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Stocks of the Hour: Eildon Capital Group, Meteoric Resources, Los Cerros

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Eildon Capital Group (ASX:EDC) has announced that they have received an odd-market takeover offer from Samuel Terry Asset Management as trustee for Samuel Terry Absolute Return Active Fund for $0.93 cash per stapled security. The board is currently considering the Offer. Shares are trading 18.35 per cent higher at 93.5 cents.

Meteoric Resources (ASX:MEI) has entered into a binding agreement to acquire significant and strategic Ionic Clay Rare Earth Element licences in Brazil. Executive Chairman, Andrew Tunks said, “The large contiguous area created by the acquisition will provide the perfect platform to grow a Tier-1 worldclass rare-earth project within a single area.” Shares are trading 3.45 per cent higher at 15 cents.

Continuing on the mining thematic, Los Cerros (ASX:LCL) has announced that their first hole drilled at their Kusi prospect in Papua New Guinea has hit high grade gold. Managing Director Jason Stirbinskis commented, “the first drill hole is considered a strong success and has given us added comfort that the Kusi Upper Limestone skarn mineralisation is a worthy target capable of delivering large tonnage and grade.” Shares are trading 6.67 per cent at 3.2 cents.
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Source: Finance News Network