Stocks of the Hour: 4 August, 2022

By Finance News Network | More Articles by Finance News Network

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Brookside Energy (ASX:BRK) provided an update to shareholders today confirming the establishment of commercial production at their Flames Well in the Anadarko Basin. Flame Well is now producing premium light sweet crude and liquids rich gas, the unhedged production is allowing the company to take full advantage of the current strong pricing environment. Brookside Energy’s Managing Director David Prentice commented, “The establishment of commercial production on our Flame Well is a fantastic achievement on its own, but when combined with the now sustained production from our other two wells, it marks the achievement of a company making milestone.” Shares are trading 13.3 per cent higher at 1.7 cents.

Anson Resources (ASX:ASN) today announced further increases in lithium grades from its current drilling campaign at the Paradox Lithium Project in UTAH, USA. Based on these results, the company plans to confirm a JORC resource upgrade incorporating all of the Clastic Zone horizons and the Mississippian Units to add to the Project’s existing JORC resource. Shares are trading 8 per cent higher at 14 cents.

American Rare Earths (ASX:ARR) today announced assay results from new claims area “bluegrass” showing significant upside for Halleck Creek. These results are on the back of an outstanding maiden drill campaign announced in June and July, demonstrating Halleck Creek as potentially one of the largest, rare-earth projects in the US. MD and CEO Chris Gibbs commented: “Halleck Creek continues to exceed our expectations.” “These are very exciting results for the Company coming soon after the highly encouraging drill results from the maiden drill program completed at Halleck Creek earlier this year.” Shares are trading 8 per cent higher at 27 cents.