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Stocks of the Hour: Sigma Healthcare, Musgrave Minerals, Adavale Resources

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Sigma Healthcare (ASX:SIG) has been awarded a supply contract with Chemist Warehouse. CEO Vikesh Ramsunder commented: “The contract allows us to leverage our highly automated distribution centres and latent spare capacity after multiple years of investment.” Shares are trading 21.26 per cent higher at 77 cents.

Musgrave Minerals (ASX:MGV) is being taken over in an all-scrip off market takeover offer for all of the issued outstanding shares by Westgold Resources (ASX:WGX). Westgold Managing Director Wayne Bramwell said: “The combination of Musgrave’s assets with our regional infrastructure and operating teams will fast track and de-risk the development of Musgrave’s Cue Gold Project.” Shares are trading 15.69 per cent higher at 29.5 cents.

Adavale Resources (ASX:ADD) has revealed that massive nickel sulphides have been intersected at their nickel project in Tanzania. Technical Director, John Hicks commented: “With a second diamond drilling rig currently being mobilised to site, Adavale is well positioned to advance drilling its priority targets.” Shares are trading 112.5 per cent higher at 3.4 cents.
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Source: Finance News Network