Sagon Resources Up Over 10% On Rare Earths Project Updates

Sagon Resources Ltd (ASX: SG1), formerly Clancy Exploration Limited (ASX: CLY), has treated the market with an update related to the Cummins Range Rare Earths Project, increasing its stock price by more than 10% on 23 August 2019. The company reported that it has engaged with key shareholders to progress the project.

At the project, first phase of the maiden drill program is planned to commence in the coming months, while the historical review of data and geological modelling have been completed. Sagon, which is amid the acquisition of RareX, has dispatched a notice of general meeting to complete shareholder approvals.

The company also provided insights into the rare earths market. It noted that the Australian Government is investing $200 billion in defence capabilities (according to a report published by the Australian Broadcasting Corporation), and rare earth metals are essential for the development.

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6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

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