Sagon Resources Ltd (ASX: SG1) Iodm Ltd (ASX: IOD) and Corum Group Limited (ASX: COO) Big Movers

Sector Reports > Latest News > ASX > Sagon Resources Ltd (ASX: SG1) Iodm Ltd (ASX: IOD) and Corum Group Limited (ASX: COO) Big Movers

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Sago Resources Acquires Cummins Range Rare Earth Project

Sago Resources exploded by more than 2000% on the confirmation it is now the rightful owner of the Cummins Range Rare Earth Project. The company has completed the 100% acquisition of RareX Pty limited on the issuance of its 60 million shares to RareX shareholders.

Located 130km southwest of Halls Creek, the Cummins Range Project is one of the two known sites bearing rare earth carbonates in Australia. The site has already shown to have huge prospects for Neodymium and Praseodymium. The two rare earth metals continue to elicit strong demand, as they are integral in the development of electric vehicles as well as Military hardware and wind turbines.

The acquisition comes hot on the heels of the company completing a placement and consequently raising $1.17 million. While part of the funds will finance the purchase of the Cummins Range and Rare Earth’s Project, part of its will finance an exploration program at the project.

IODM Limited-Western Union Partnership

IODM Limited shares rallied by more than 30% on the announcement the company has entered into a strategic partnership with Western Union. A deal with a global leader in cross-currency paves the way to expand its footprint into the Asia Pacific, and the UK.

Under the terms of the agreement, IODM products will now work with Western Union solutions to provide customers an efficient way of processing payments. IODM expects the partnership to advance the awareness of its products into new and exciting markets as both companies move to benefit from the partnership.

IODM CEO Mark Reilly commented, “This is an exciting day for us as it gives further validation for the products that we offer. Our staff and officers have worked hard to make this achievable in a short space of time, and I thank Western Union Business Solutions for the professional manner that they have displayed, underlining why they have been one of the most dynamic and innovative companies for the past 168 years.”

Corum Group Capital Raise

Corum Group was up by more than 20% after affirming its push to capitalize on growth opportunities within the pharmacy software and adjacent markets. The company has consequently raised $3.66 million on a fully subscribed placement of 146.4 million ordinary shares. The capital raise drive saw Alchemy Healthcare invest $1.5 million.

With the new finances, the company remains well-positioned to come up with the next generation cloud-enabled solutions as it also continues to deliver innovative and value-enhancing solutions. The capital raise drive comes just days after the company confirmed completion of negotiations on the development of a number of solutions with BAMM Administration

The two are joining forces to come up with software solutions that will assist in multi-store management and in-store retail operations within the pharmacy industry in Australia. The agreement paves the way for Corum to accelerate the project as it moves to strengthen its intellectual property.

 

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