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Stocks of the Hour: Blue Star Helium, Magnis Energy Technologies, Downer EDI

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Blue Star Helium (ASX:BNL, OTCQB:BSNLF) has entered into an agreement with IACX Energy. Under the agreement, IACX will supply and operate a helium plant for the provision of helium recovery services. Blue Star will pay a monthly fee. MD and CEO Trent Spry commented: “As well as delivering significant de-risking benefits in terms of upfront capital… adopting this pathway has also eliminated any requirement for Blue Star to commit to price concession offtake agreements. The result is that we can target the premium pricing available in short-term US contract markets and spot sales.” Shares are trading 43 per cent higher at 3 cents.

Magnis Energy Technologies (ASX:MNS; OTCQX:MNSEF; FSE:U1P) has executed a Letter of Intent for Phase 1 of its anode active materials commercialisation facility in the US. Con Hoursalas, Group Communications Manager, commented: "The selection of a suitable site holds great significance as it is a milestone in satisfying our customer’s agreement announced in February this year. We look forward with excitement in sharing further details in our next update.” Shares are trading flat at 14 cents.

Downer EDI (ASX:DOW) has secured a $4.6 billion agreement with the Queensland government for its train production initiative. Chief executive Peter Tompkins said, “Our industry-leading engineering and maintenance practices will be applied in the delivery of the next generation of Queensland’s passenger train fleet.” Shares are trading 2 per cent higher at $4.
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Source: Finance News Network