Stocks of the Hour: Gateway Mining, Sabre Resources, Ionic Rare Earths


Gateway Mining (ASX:GML) has intersected a significant new zone of bedrock gold mineralisation in first-pass Reverse Circulation (RC) drilling testing at the newly defined Duplex target, within the Montague Gold Project in WA. In response, Gateway’s Managing Director, Mr Mark Cossom, said, “this is a completely new style of mineralisation to anything we’ve seen before at Montague – validating our systematic approach to unlock the full value, through new discoveries, of what we believe is a major gold mineralised system.” Shares are trading 23.81 per cent higher at 2.6 cents.

Sabre Resources (ASX:SBR) is set to commence a multi-phase exploration program at its Dingo Project in the Northern Territory to follow up on high-grade uranium results, identified in previous drilling at the Eclipse 1 Prospect. In response, Sabre Resources CEO Jon Dugdale commented, “Uranium exploration in the Ngalia Basin is actively encouraged by the Northern Territory Government and its location in an arid area 300km northwest of Alice Springs makes it one of Australia’s best regions for uranium development.” Shares are trading 24.14 per cent higher at 3.6 cents.

Ionic Rare Earths (ASX:IXR) has announced that the Ugandan Minister of Energy and Mineral Development, has signed and issued Large Scale Mining Licence for the Makuutu Heavy Rare Earths Project. This brings on further supply chain and off-taker engagement, and positions Makuutu for targeted Final Investment Decision later in 2024 and first production in 2026. Shares are trading 6.82 per cent higher at 2.35 cents.