Stocks of the Hour: Charger Metals, Lithium Australia, Race Oncology, Syrah Resources

There has been a confirmation of lithium at the Lake Johnston project jointly owned by Charger Metals (ASX:CHR) and Lithium Australia (ASX:LIT). The project is being prepared for drilling. Shares in Charger Metals (ASX:CHR) are trading 8.7 per cent higher at $0.50 while shares in Lithium Australia (ASX:LIT) are trading 1.2 per cent higher at 8.2 cents. 

The board at Race Oncology (ASX:RAC) has approved an on-market share buyback for up to four million ordinary shares over the next 12 months. The biotech is looking to take advantage of the market volatility to snap up shares in periods where the price undervalues the business. Shares are trading 12.7 per cent higher at $1.91.

Syrah Resources (ASX:SYR) has received reports of an insurgent attack at a mine project in northern Mozambique. This is the second incident in the area after a period of significant security improvement. Shares are trading 14.3 per cent lower at $1.31