Alset Energy Corp. (ION:TSXV) outperformed all stocks in July’s Stock Challenge Tuesday to capture the Daily Stock Challenge Breakout award.
Alset Energy ripped 47% Tuesday
Alset Energy moved 12 and-a-half cents higher Tuesday, or 47% on 1.37 million shares traded to close at $0.39 per share. While Alset has been as high as $0.84 earlier this year, it has rebounded from a recent low of $0.265.
Alset, like many high-flying liquid stocks on the TSX Venture, is in the lithium exploration space. Lithium explorers have gotten a huge bid in 2016 as electric cars, which use large amounts of lithium, continue to gain in popularity and overall sales.
Alset targets Lithium Salars in Mexico
Alset announced on July 13th, that it had executed a final agreement on lithium salars in Mexico. The company reported that it “…will acquire these assets through its wholly owned Mexican subsidiary, Grupo Minero Alset, S.A. de C.V., by paying the outstanding mining taxes on the four concessions in the amount of approximately US$112,000 and making the following payments of US$210,000 to the Optionor on the following schedule:
- US$20,000 on the Company providing the Notice of satisfaction of the due diligence;
- US$25,000 on first anniversary of signing the Definitive Agreement;
- US$30,000 on second anniversary of signing the Definitive Agreement;
- US$35,000 on third anniversary of signing the Definitive Agreement;
- US$40,000 on fourth anniversary of signing the Definitive Agreement; and
- US$60,000 on fifth anniversary of signing the Definitive Agreement”
Click here to read the entire press release.
Stephen Stares, Company President and CEO stated, “We are pleased to have completed administrative aspects surrounding this agreement and establishing Alset’s corporate presence in Mexico. We now look forward to aggressively exploring the concessions with our team of talented advisors with the hopes of developing these properties into producing assets in the future.”
Alset also reported on July 13th that is well funded with approximately $900,000 in cash.
Click here to read the entire press release from July 13th.
leblereau holding the lead in July Stock Challenge
The race for the crown in July’s Stock Challenge has seriously tightened up. Member ‘leblereau‘ is leading the way, with a 50.24% return.
‘BrotherJ‘ a past Stock Challenge champ and member for over 3 years has moved into second place with a 48.52% return. Member ‘Tricky‘ a member for almost 2 years is a hair behind BrotherJ with a 47.95%combined average return at the close of trading Tuesday.
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