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Stocks of the Hour: Ardea Resources, Thor Energy, Helix Resources

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Ardea Resources (ASX:ARL) provides an update on progress with the Consortium, comprising Sumitomo Metal Mining and Mitsubishi Corporation, following the signing of a non-binding MOU. The Consortium and Ardea have agreed on the scope of work and budget for the Kalgoorlie Nickel Project (KNP) Goongarrie Hub Definitive Feasibility Study (DFS), pending finalisation of binding agreements, with DFS contracts to be awarded upon their signing, aiming for execution by March 31, 2024. ARL shares are trading 21.25 per cent higher at 48.5 cents.

Thor Energy (AIM, ASX:THR, OTCQB: THORF) has announced high grade uranium and vanadium results from the recently completed RC drilling program on the Company’s 100% owned Wedding Bell and Radium Mountain Projects, in southwest Colorado, USA. Vanadium mineralisation forms broad zones adjacent to the uranium mineralisation, with an average vanadium-to-uranium ratio of 10:1, which is typical of the Uravan Mineral Belt. Shares are trading 20 per cent higher at 3 cents.

Helix Resources (ASX:HLX) has successfully trialed the use of an Induced Polarisation (IP) geophysical survey technique at the Canbelego Main Lode Mineral Resource. The results received clearly identify the ‘known’ Canbelego copper deposit and highlight two new chargeable IP anomalies that have never been drilled. Shares are flat at 0.3 cents.