Stocks of the Hour: Jindalee Lithium, Algorae Pharmaceuticals, Canyon Resources

Informed Investor07-31

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Jindalee Lithium (ASX:JLL) announced that battery-grade lithium carbonate has been successfully produced from ore from the McDermitt Lithium Project. All steps of the processing flowsheet for the Project from ore beneficiation and leaching to purification and production of battery-grade lithium carbonate are now validated. Shares are trading 13.46 per cent higher at 29.5 cents.

Algorae Pharmaceuticals (ASX:1AI) has released positive results for its drug AI-116. It showed significantly better results in reducing brain cell damage than an existing dementia drug in laboratory tests. Shares are trading 33.33 per cent higher at 1.2 cents.

Canyon Resources (ASX:CAY) has signed a mining convention for the Minim-Martap Bauxite Project in Cameroon. This agreement outlines how Canyon's subsidiary can mine and export alumina and bauxite once it receives a mining permit. Shares are trading 2.67 per cent higher at 7.7 cents.

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