Stocks of the Hour: Vintage Energy, Mandrake Resources, Charger Metals, Carnarvon Energy

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Vintage Energy (ASX:VEN) has announced that their gas supply from the Vali gas field commenced yesterday. Vali is supplying gas to eastern Australia under a long-term gas supply agreement with AGL Energy (ASX: AGL). “Our expectation is Vali, and the Odin gas field nearby, will be supplying gas to eastern Australia for many years” – Neil Gibbins, Managing Director, Vintage Energy. Shares are trading 2.2 per cent higher at 9.3 cents.

Mandrake Resources (ASX:MAN) has secured a large-scale lithium project in the United States. In response, Managing Director James Allchurch commented: “Mandrake has organically secured a potentially world-class lithium project in the heart of the US, at a time when the US federal government is actively funding and supporting domestic sources of strategic and critical materials such as lithium.” Shares are trading 16.98 per cent higher at 6.2 cents.

Charger Metals (ASX:CHR) has confirmed high-grade lithium at the Medcalf Spodumene Discovery. Charger’s Managing Director, David Crook, commented: “The first very encouraging drilling results are now to hand and drilling is continuing to intersect similar multiple-sheet pegmatites within a plunging, 100m-wide, structural zone.” Shares are trading 16.2 per cent higher at 43 cents.

Carnarvon Energy Limited (ASX:CVN) has entered into a binding agreement to divest a 10% interest in its Bedout assets to OPIC Australia Pty Limited, a subsidiary of CPC, which is Taiwan’s national oil and gas company. In response, Carnarvon Managing Director and CEO, Adrian Cook, commented: “Carnarvon will be in the enviable position of holding substantial cash and financial liquidity to fund its share of the world class Dorado development.” Shares are trading 9.7 per cent higher at 17 cents.
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