Stocks of the Hour: Larvotto Resources, OD6 Metals, Magnetite Mines

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Larvotto Resources (ASX:LRV) announced bonanza grade results of total rare earth element oxide (TREO) results from recent aircore drilling at the company’s Merivale South Prospect in Western Australia. Managing Director, Mr Ron Heeks commented: “Today’s results are exceptionally high-grade intervals for ionic clay mineralisation and come from shallow depth.” Shares are trading 85.19 per cent higher at 25 cents.

And in more rare earth news, OD6 Metals (ASX:OD6) announced bumper rare earth grades and extensive thicknesses at its Splinter Rock project in WA. Brett Hazelden, Managing Director, commented: “These exceptional drill results represent some of the highest rare earth grades, over some of the thickest intersections seen in an Australian clay hosted rare earth project.” Shares are trading 32.2 per cent higher at 39 cents.

Magnetite Mines (ASX:MGT) has announced that they have signed a land access agreement enabling access to rail-side concentrate transfer location, supporting the stage 1 development and expansion case. MGT CEO Tim Dobson commented, “The planned infrastructure at the existing Hillgrange rail siding will be Razorbacks connection to global markets, enabling access to the national rail network for the delivery of our high-grade iron ore products to customers.” Shares are trading 0.85 per cent higher at 59 cents.
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Source: Finance News Network