Lending Association

Stocks of the Hour: BluGlass, Vection Technologies, Lake Resources

Global semiconductor developer BluGlass (ASX:BLG) has received $4.3 million in commitments from institutional and sophisticated investors via a strongly supported share placement at an issue price of $0.037 per share. BluGlass is also undertaking a Share Purchase Plan Offer to enable eligible shareholders in Australia and New Zealand to acquire up to $100,000 worth of Shares on the same terms. Shares are trading 22.83 per cent lower at 3.55 cents.

Vection Technologies Ltd (ASX:VR1, OTC:VCTNY) has announced the award of a contract valued at $4.9m (€3.0m) on a Total Contract Value basis, all of which is expected to be recognised in 3Q FY24. The contract is with a technology service provider focused on cybersecurity and infrastructure security solutions for law enforcement, government agencies and security agencies, with the service to be ultimately provided to a non-European government. Shares are trading 21.43 per cent higher at 3.4 cents.

Clean lithium developer Lake Resources (ASX:LKE; OTC:LLKKF) has reported that drilling operations at the Kachi Lithium Brine Project in Catamarca Province, Argentina, have consistently intercepted lithium-bearing brine within sand units conducive to extraction across substantial intervals in the southern sector of the central resource area. The DFS highlights include: Total resource estimated at 10.6 Mt LCE, representing a globally significant resource, and a 25-year life of mine (LoM) supported by a maiden Ore Reserve statement. Shares are trading 1.6 per cent lower at 9.25 cents.