Stocks of the Hour: Pacific Nickel Mines, Elementos, Perpetual Resources


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Pacific Nickel Mines (ASX:PNM) announced that mining operations at the Kolosori Nickel Project, in the Solomon Islands has achieved a significant milestone. The Project is now achieving a throughput of two ships per month, with ramp-up to full production of 1.5mtpa nearing completion, equivalent to three ships per month during the dry season. Shares are trading 42.86 per cent higher at 4 cents.

Elementos (ASX:ELT) has signed a non-binding term-sheet, through a wholly owned Spanish subsidiary, to secure an option to acquire up to a 50% interest in Iberian Smelting SL. The smelter is located only 220km by road from the Oropesa Tin Project, leading to significant cost reductions and environmental benefits, over transporting and selling concentrate to other global smelters. Shares are trading flat at 12.5 cents.

Perpetual Resources (ASX:PEC) announced that it has commenced its maiden drill program at the recently acquired Raptor REE Project, located within the prolific Caldeira complex in Minas Gerais, Brazil. Initiation of drilling follows the use of portable XRF in-field sampling equipment for selection of sample locations. Shares are trading 13.33 per cent higher at 1.7 cents.