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Stocks of the Hour: Raiden Resources, Encounter Resources, Stellar Resources

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Raiden Resources (ASX:RDN) has entered into a transaction to acquire an 80 per cent interest in the Welcome Exploration tenements. These are located in the Pilbara region of WA. Dusko Ljubojevic, MD of Raiden, commented: “With credit to Raiden’s management team, the company has managed to secure prospective ground immediately adjacent to one of the most exciting lithium discoveries this year.” Shares are trading 28.57 per cent higher at 0.9 cents.

Encounter Resources (ASX:ENR) has identified carbonatites over 3.5km of strike in the West Arunta region of WA. MD Will Robinson said: “Both holes contain zones of shallow oxidised and fresh carbonatite that returned anomalous niobium-REE on a handheld pXRF.” Shares are trading 30.19 per cent hgher at 34.5 cents.

Stellar Resources (ASX:SRZ) has intersected massive sulphides of zinc, lead and copper at the company’s North Scamander project in Tasmania. Executive Director, Gary Fietz, commented: “The significant Zn-Pb-Cu mineralised zone intersected to date… is very encouraging as this is interpreted as being the top of a metal-rich hydrothermal system which may exist at depth”. Shares are trading 20 per cent higher at 1.2 cents.
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Source: Finance News Network