Stocks of the Hour: Besra Gold, Mincor Resources, MGC Pharmaceuticals, Renegade Exploration
Besra Gold (ASX:BEZ) has announced an up to US$300m for a non-binding drawdown offtake funding facility term sheet, signed with major shareholder Quantum Metal Recovery, to facilitate development of the 3 million ounce Bau Gold Project. Besra’s Chairwoman, Jocelyn Bennett commented: “We [now] plan to commence an update of the 2013 feasibility study and accelerate our plans to begin pilot production in the calendar year 2023.” Shares are trading 85 per cent higher at 7.4 cents
Mincor Resources (ASX:MCR) has received a $1.40 cash takeover offer from Wyloo Consolidated Investments, an investment vehicle of Australian billionaire Twiggy Forest. Forest currently owns 19.87% of Mincor and this will help his push into the nickel and the EV battery minerals industry. Shares are trading 40.38 per cent higher at $1.46.
MGC Pharmaceuticals (ASX:MXC) announced that ArtemiC™, their proprietary clinically tested for COVID 19 treatment, has been listed as over-the-counter status on the National Drug Code Database of the US FDA. In response, Roby Zomer, CEO and Managing Director of MGC Pharmaceuticals, commented: “[This] provides significant access to the largest healthcare market in the world and stands as a major milestone MGC’s growth progression.” Shares are trading 42.86 per cent higher at 1 cent.
Renegade Exploration (ASX:RNX) has announced that their drilling has hit large copper sulphide zones at their Mongoose Project in Queensland. In response, Director, Mr Robert Kirtlan, said, “Within two months of assuming control of Mongoose we have completed a maiden RC program and it has all the hallmarks of being very successful.” Shares are trading 30 per cent higher at 1.3 cents.
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