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Golden State Mining (GSM) was one of the many companies to release its results, and the market reacted with a 6.5 per cent lift.
GSM had reported assays from first-pass geochemical sampling at the Paynes Find lithium project in WA over the March quarter, identifying a clear anomaly with up to 217 parts per million lithium.
The company also secured new exploration licences at both its Southern Cross East and Yamarna projects in Western Australia. Golden State Mining was last trading at 3.3 cents.
Vulcan Energy Resources (VUL) was also on the rise after outlining its “rapid transformation” over the year so far.
Vulcan has been reshaping from a development company to an integrated project development, execution and operations business.
The quarterly report follows yesterday’s news the company had signed a term sheet with industrial chemicals leader Nobian for a 50/50 joint venture and equity financing for the Vulcan Central lithium plant in Germany.
Vulcan held $186.2 million in funding at the end of the March quarter. The company’s share price gained 4.5 per cent, trading just shy of $6.
Meanwhile, Magnum Mining and Exploration (MGU) has completed magnetite outcrop channel sampling at its Buena Vista Green Pig iron project in Nevada.
The company’s reconnaissance work identified shallow, high-grade potential in historical pits. This sampling will support efforts to define a direct shipping ore source that may allow early, low-cost mining and shipping from the project.
Magnum Shares last traded at 1.9 cents.
Meanwhile, Mount Ridley Mines (MRD) has outlined planned aircore drilling between its Mia and Marvin prospects within its namesake Mt Ridley rare earth element project in Western Australia.
The next drilling will include infill work at its 25 square kilometre Mia prospect.
During the March quarter, MRD completed more than 230 aircore holes, targeting clay-hosted rare earth element mineralisation. Shares last traded at 0.3 cents.
To health care, Imugene (IMU) spent its March quarter on the development of its cancer-killing virus, VAXINIA.
IMU dosed the first patients in a combination and a monotherapy trial of the drug after receiving ethics approval.
The company posted net negative operating cashflow of $10.6 million for the period but still had $151.5 million in the bank at the end of March.
Imugene shares are up 2 per cent to 13 cents.
