What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – TG1, M2R, NAG, BAS, STX, QPM, WCN, ADG & ACR
What’s Not – JLG
What’s Hot
TG1 – TechGen Metals Limited today closed up 61% to finish at 5c on $660k stock traded. The reason they were up today was because they announced an exploration update for its Station Creek Project located in WA.
Previous rock chip samples from Station Creek have returned up to 7.05% Antimony (Sb) in addition to a +15ppm Antimony soil anomaly which is 1.2km x 400m in size.
The Station Creek Project has been explored previously for uranium, base metals and gold but has had no specific exploration for antimony.
M2R – Miramar Resources Limited today closed up 44% to finish at 1.3c on $880k stock traded. The reason they were up today was because they announced the grant of the Chain Pool tenement located in the Gascoyne region of WA.
An initial reconnaissance fieldtrip to the Joy Helen prospect within the tenement returned high-grade rock chip results of up to 5.49% Cu, 42.0% Pb & 73.48g/t Ag.
Combined with historic sampling, the high-grade copper, lead and silver mineralisation at Joy Helen has been seen over approximately 700m of strike.
NAG – Nagambie Resources Limited today closed up 44% to finish at 2.3c on $730k stock traded. There was no news out today but late last month they announced antimony prices has doubled in 2024.
The Nagambie Mine high-grade gold-antimony orebody is most sensitive to the antimony price, given that it is the highest-grade antimony mineralisation in Australia.
Nagambie currently has a maiden JORC inferred resource of 415Kt @ 3.6 g/t Au & 4.3% Sb for 47.8Koz Au & 17.8Kt Sb.
BAS – Bass Oil Limited today closed up 32% to finish at 9.9c on $920k stock traded. The reason they were up today was because they announced initial results from the Kiwi 1 Extended Production Test (EPT) located in the Cooper Basin, QLD.
The EPT has commenced with strong initial flow rates of 4.1 million cubic feet per day (mmcfd) of gas along with 988 barrels of condensate per day at a flowing wellhead pressure of 1585 psi.
Field gas measurement indicate low impurity levels with a CO2 content of 4.5% which is lower than expected, and no H2S (Hydrogen Sulfide).
The EPT is planned to continue until sufficient information is gathered to determine the size of the reservoir.
STX – Strike Energy Limited today closed up 21% to finish at 20c on $7.3m stock traded. The reason they were up today was because they announced an operational update on the West Erregulla gas field located in WA.
Strike has reached 5,208m measured depth (MD) at the Erregulla Deep-1 (ED-1) exploration well.
Positive observations of sustained drilling breaks, with associated mud gas responses above background level were made whilst drilling through a sand body within the Irwin River Coal Measures, and then again within the primary target of the Kingia Sandstone.
These observations are preliminary in nature and Strike will continue drilling to final depth before running a series of wireline logs.
QPM – Queensland Pacific Metals Limited today closed up 19% to finish at 3.7c on $1.4m stock traded. The reason they were up today was because they announced a term sheet was executed for its subsidiary QPM Energy Pty QPME.
The term sheets outline key commercial terms to be included in new contracts for Townsville Power Station (TPS) dispatch rights and North Queensland Gas Pipeline (NQGP) transport and storage services.
QPME and RATCH Australia Corporation (RAC) will contract for dispatch rights to 100% of the capacity of TPS’s 160MW gas turbine generation unit when existing arrangements expire.
WCN – White Cliff Minerals Limited today closed up 14% to finish at 1.6c on $330k stock traded. The reason they were up today was because they announced exploration results from its Great Bear Project located in Northwest Territories, Canada.
Rock chip samples taken from the Slider Prospect has returned bonanza grades of up to 7.54% Ag (75,439g/t Ag or 2,425 Oz/t Ag).
An additional new E-W structural trend has been identified within the Slider region with over 450m of strike length returning assays up to 904g/t Ag, 6.5% Cu and 8.1% Zn.
ADG – Adelong Gold Limited today closed up 11% to finish at 0.5c on $100k stock traded. The reason I presume they were up today because they presented at the Australian Gold Conference.
Adelong’s Gold Projects contain a total mineral resource estimate of 1.8Mt @ 3.21g/t Au for 188Koz of contained gold.
Adelong is prioritising drilling activities within key deposits identified in its scoping study being the Challenger, Currajong, & Caledonian deposits.
This focused approach aims to expedite the project’s path to production and update the current study, which will facilitate the exploration of various funding options for the project’s development.
ACR – Acrux Limited today closed up 10% to finish at 6.6c on $430k stock traded. The reason they were up today was because they announced the FDA had approved its fifth ANDA, a generic version of Aczone Gel, 7.5% (Dapsone Gel, 7.5%).
ANDA is a topical treatment for acne vulgaris in patients 9 years of age and older, Acrux can now manufacture and market this generic drug in the US.
In the US, sales generated by the branded product and its generic competitors exceeded US$37.4m based on IQVIA data.
Back in April, ACR launched a generic of Dapsone 5% which has annual market sales exceeding US$15 million.
What’s Not
JLG – Johns Lyng Group Limited today closed down 27% to finish at $4.06 on $72m stock traded. The reason they were down today was because they released its full year results which revealed a 9.5% fall in revenue to $1.158 billion.
JLG is also forecasting FY25 sales revenue to fall again at $1.128 billion and EBITDA of $123.5m (FY24 EBITDA was $129.6m).
JLG has commenced the first half of FY25 maintaining strong workflow and has accordingly forecast business as usual (BaU) revenue growth of 15.1%.
Johns Lyng Group is an integrated building services group delivering building and restoration services across Australia and the US.
Rats Rant – IMPORTANT INFORMATION
The idea of this report is to be informative and hopefully point out some stocks that you wouldn’t ordinarily have seen during the day, maybe even have a laugh too.This report IS NOT personal advice. Sanlam Private Wealth Pty Ltd DOES NOT PROVIDE personal advice, Sanlam Private Wealth provides General Financial Product Advice.All advice included in The Rat’s Rant is General Advice. Please refer to the General Advice Warning. The views expressed in this report are my views and may not necessarily reflect the same views as Sanlam Private Wealth.It is very important to refer to the ASX website for information on any companies / stock that are contained in this report and as always please consult your financial adviser before acting.
Important Notice
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