LA Private

Stocks of the Hour: DroneShield, Nickel X, QX Resources

DroneShield (ASX:DRO) has been awarded a contract by a Five Eyes Department of Defence. This is a follow-on two-year R&D contract with a total value of $9.9 million. Oleg Vornik, DroneShield’s CEO, commented, “DroneShield is proud and pleased to continue undertaking multi-year contracts of increasing size with this customer.” Shares are trading 17.78 per cent higher at 26.5 cents.

Nickel X (ASX:NKL) has executed an option to acquire 100 per cent of an advanced nickel and hard rock lithium exploration project in Central Europe. Managing Director Matt Gauci commented: “The projects are exceptionally well located, almost on the doorsteps of 27 lithium battery ‘Gigafactories’ in Europe planned for 2030.” Shares are trading 40.3 per cent higher at 9.4 cents.

QX Resources (ASX:QXR) has acted as the underwriter to the rights issue of Bayrock Resources, and has now secured a 39 per cent interest in issued capital of the company. Executive Chairman Maurice Feilich commented, “Bayrock has received excellent support from its existing shareholder base, and together with QXR’s investment, the company is sufficiently capitalised to deliver further value through ongoing drilling in Sweden.” Shares are trading 20 per cent higher at 2.4 cents.