What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – OZM, AII, AQD, KAL, ENV, ORD, USL & DRE
What’s Hot
OZM – OzAurum Limited today closed up 29% to finish at 13.5c on $7.9m stock traded. There was no news out today but yesterday they announced an update on its new gold discovery at the Mulgabbie North Gold Project located in WA.
Back on Monday, OZM announced drilling had confirmed multiple shallow high-grade intercepts along the Relief Shear with assays returning up to 20m @ 3.57 g/t Au from surface & 10m @ 6.59 g/t Au from 12m.
One of my smarter broking buddies who we will call Jimmy Nic to keep him anonymous said to me on Monday, three words for you rat he said – Buy The Discovery & then he hung up.
AII – Almonty Industries Limited today closed up 25% to finish at $1.925 on $1.1m stock traded. There was no news out today but last week they announced a placement to raise $18.45m @ 90c through RM Corporate Finance.
The timing of that one was brilliant, given the Chinaman’s ban on Moly & Tungsten earlier this week (don’t even think the 90c paper has even been issued yet) but don’t quote me as I didn’t get any but well done to those of you that did.
The funds raised will be used towards restructuring the company’s balance sheet.
Last week, AII had also announced an offtake agreement was entered with SeAH Group to supply Molybdenum from its Sangdong Molybdenum Project for the life of mine.
AQD – AusQuest Limited today closed up 21% to finish at 5.7c on $5.7m stock traded. The reason they were up today was because they announced further assays from the Cangallo Porphyry Copper Discovery located in Peru.
Drilling returned assays of up to 304m @ 0.30% Cu, 0.06ppm Au from 34m including 28m @ 0.56% Cu and 0.03ppm Au.
Copper and gold mineralisation remains open in all directions including at depth, although prospectivity appears to increase to the west of the current drilling, where the centre of the porphyry system is thought to be hidden beneath the cover.
KAL – Kalgoorlie Gold Mining Limited today closed up 21% to finish at 2.3c on $140k stock traded. There was no news out today but last week they released its quarterly report which highlighted the advancement of its Pinjin Project located in WA.
Throughout the quarter, KAL completed four phases of drilling at its Pinjin Project defining gold mineralisation at three priority prospects.
Drill program design and planning is currently in progress to test KalGold’s most prospective gold discoveries in early 2025.
During lunch time today they were placed in a trading halt pending an announcement in relation to drill results.
ENV – Enova Mining Limited today closed up 14% to finish at 0.8c on $930k stock traded. The reason they were up today was because they announced assay results from its CODA North Project located in Brazil.
Drilling returned near surface titanium mineralisation with assays of up to 54m @ 9.03% TiO2 from surface including 16m @ 16.1% TiO2 from 37m.
Exploration data highlights a sustained moderate positive correlation between TiO₂ percentage and TREO concentrations.
As TiO₂ levels rise, rare earth oxide content tends to increase, reinforcing the potential for co-mineralisation.
ORD – Ordell Minerals Limited today closed up 14% to finish at 40c on $300k stock traded. There was no news out today but last month they announced assay results from the McNabs East Prospect within its Barimaia Gold Project located in WA.
Drilling continued to confirm shallow, open pit potential with assays returning up to 22.7m @ 4.09g/t Au from 71.3m including 1m @ 36/t Au.
Gold mineralisation is interpreted to plunge shallowly to the east, striking east-northeast with drilling of the McNabs East western zone to form part of the large drilling program commencing in February.
USL – Unico Silver Limited today closed up 11% to finish at 21c on $1.5m stock traded. There was no news out today but roughly a fortnight ago they announced assay results from the Cerro Leon project located in the Santa Cruz province of Argentina.
Drilling has defined high-grade mineralisation at three mineralised structures that fall outside of the current mineral resource estimate (MRE).
Assays from the first 37 holes (another 10 holes pending) returned up to 12m at 411g/t AgEq from 18m (Karina) & 2m at 482g/t AgEq from 42m & 10m at 651g/t AgEq from 5m (CSS).
DRE – Dreadnought Resources Limited today closed up 10% to finish at 1.1c on $220k stock traded. There was no news out today but yesterday they announced a placement to raise $4.1m @ 1c through Shaw and Partners.
The directors have committed $220k in the placement while Black Cat Syndicate (BC8.asx) has also subscribed for $1m.
Dreadnought is now funded to deliver its self-funded explorer strategy by bringing the high-grade Star of Mangaroon gold mine into production.
The Star of Mangaroon has an initial resource of 23,300 oz @ 12.8g/t Au which remains open at depth and along strike.
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.
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