QX Resources (ASX: QXR) secures 39% stake in battery minerals-focused Bayrock Resources

July 03, 2023 07:16 PM PDT | By Team Kalkine Media

Google News:

QX Resources (ASX: QXR) secures 39% stake in battery minerals-focused Bayrock Resources — Image source: Company update

Recent News

Why Is OFG Bancorp (NYSE:OFG) Facing Volatility On The NYSE and S&P Re...

Is Babcock & Wilcox Enterprises (NYSE:BW) Reflecting NYSE Composite Se...

Is Danaher Corporation (NYSE:DHR) Price Volatility Reflecting Sector S...

Is La-Z-Boy (NYSE:LZB) Drawing Market Focus On NYSE and S&P 400 Follow...

Highlights

QXR now holds a ~39% interest in Bayrock, which is a battery minerals-focused Australian company with assets in Sweden.

Bayrock has completed its rights issue with support from its existing shareholder base.

QXR is charting a path for exploration work at its lithium portfolio based in Pilbara.

QX Resources Limited (ASX: QXR) has shared an exciting development, suggesting that it now holds a ~39% interest in the issued capital of Australian firm Bayrock Resources Limited. The development comes after the conversion of secured loans provided to Bayrock by QXR and fees due to payment to the company.

It is to be noted that Bayrock has wrapped up its rights issue valued at AU$1.8 million, in which QXR acted as underwriter.

Bayrock has a project portfolio in Sweden with focus on battery minerals.

Shares gain 20%

Triggered by the update, QXR shares gained 20% to trade at AU$0.024 at the time of writing on 4 July 2023.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.