Hot Stocks: Cobre, Silver Lake Resources, BetMakers Technology Group

Cobre Limited Junior Miner (ASX: ECB) today announced the first intersection of significant copper mineralization from its ongoing drilling program on its KML NCP licenses. Based on visual estimates, confirmed by pXRF readings, drill hole NCP07 intersected a broad zone of copper mineralization beginning at 214m and continuing for approximately 59m to 273m. Mineralization includes vein and fracture fill chrysocolla as well as fine-grained copper sulphides, the abundance of which increases between 250 and 260 m depth. Commenting on the initial drill results, Cobre Executive Chairman and Managing Director Martin Holland said, “This new copper discovery represents a transformative moment for Cobre shareholders. Cobre has never been in a better position from a project ownership, technical and operating perspective and we now have a promising copper intersection, on one of the most prospective copperbelts in the world. world. Shares of CBE are currently trading up 90% at 9 cents.

Silver Lake Resources (ASX: SLR) set new sales guidance of 260,000 ounces of gold production for fiscal 2023 after withdrawing its previous quarterly guidance in April amid rising costs and uncertainty over labor issues work. The mining company said it generated quarterly production of 65,844 ounces of gold and 235 tonnes of copper in the three months to June. For the year, production of the precious metal reached 251,887 and 991 tonnes of copper. “Silver Lake operations resiliently managed the challenges presented by the prevailing operating climate during the quarter and throughout Fiscal Year 22, which were impacted by the ongoing and evolving response to COVID-19, and the stresses labor and supply chain,” he added. Shares of SLR are currently trading up 3.2% at $1.37.

BetMakers Technology Group Ltd (ASX: BET) today announced a strong quarterly cash flow statement and quarterly business report for the fourth quarter of FY22. The $26.2 million in cash revenue reported by customers in the fourth quarter of the FY22 highlights the continued strong performance of the existing business with cash revenue from FY22 customers of $93.4 million. Net cash from operating activities for the quarter was $0.4 million, which includes approximately $2.5 million of payments not directly related to normal ongoing costs for the period. Betting shares are currently trading up more than 1% at 49 cents.