Benzinga - by Austin DeNoce, Benzinga Staff Writer.
Top Stories for Jan. 2, 2024:
1. The boron and lithium company 5E Advanced Materials, Inc. (NASDAQ: FEAM) announced that it has officially started its mining operations at its 5E Boron Americas Complex with the wellfield injection process.
The company is working to extract valuable minerals from its wholly-owned project at Fort Cady with expectations to begin lab production in the near future and production of boric acid and lithium carbonate by the end of the first quarter of 2024.
"We are excited about reaching this major milestone through the launch of mining operations today at our 5E Boron Americas Complex," said 5E Advanced Materials CEO, Susan Brennan. "The 5E team has been resilient through the construction process, navigating several challenges and ultimately bringing our facility on-line. We look forward to 2024 as we continue advancing our vision as we now become the newest domestic producer of boric acid and lithium carbonate."
2. Short interest in American Battery Technology Company (NYSE: ABAT) has risen nearly 7.5% since the company’s last report, which showed 2.52 million (or 5.32%) of all regular shares were sold short.
According to Benzinga Pro, this is notably higher than the company’s 3.81% average, and based on the stock’s trading volume, it would take an average of 3.03 days for traders to cover their short positions.
3. According to Benzinga's options scanner, BHP Group Limited (NYSE: BHP), a diversified global miner, has witnessed unusual activity in its options trades with a series of sizable transactions.
The overall sentiment from eight options transactions is split 75% bullish and 25% bearish, with seven put options amounting to $704,640 and one call option valued at $26,200.
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