What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – SS1, AGC, ERW, EMS, VR8, DTR, PEC, NWM, MPK & LTP
What’s Not – CHL
What’s Hot
SS1 – Sun Silver Limited today closed up 113% to finish at 42.5c on $7.8m stock traded. The reason they were up today was because they listed after raising $13m @ 20c through the boys and girls at Wagtail Capital.
Sun Silver’s flagship Maverick Springs Silver-Gold Project is located in Nevada and hosts a JORC compliant Mineral Resource of 292Moz AgEq (silver equivalent) @ 72.4g/t.
Increase in Silver price since IPO closed can’t have hurt nor the note today which you will see below.
The deposit itself remains open along strike and at depth, with multiple mineralised intercepts located outside of the current resource constrained model
SS1 aims to develop the Maverick Springs Project and undertake early-stage studies to assess the feasibility of silver paste and solar energy opportunities in North America.
AGC – Australian Gold and Copper Limited today closed up 104% to finish at 24.5c on $5.9m stock traded. The reason they were up today was because they announced assay results from the Achilles Prospect within its Cargelligo Project located in Cobar, NSW.
Drilling covered over half a kilometre of strike and has extended mineralisation beyond the discovery holes recently reported, some of the best intersections included 43m @ 2.2g/t Au, 196g/t Ag & 3.6% Pb+Zn from 99m.
Given these very strong results, assays for the six holes pending have also been expedited and are expected in the coming weeks.
ERW – Errawarra Resources Limited today closed up another 43% to finish at 14c on $2.6m stock traded. There was no news out today but on Monday they announced exploration results from its Andover West Project located in the Pilbara, WA.
ERW has identified a 1.6km x 1km stacked pegmatite swarm with a highly anomalous lithium soil trend that has a peak of 325ppm Li2O.
This trend appears to be along strike of the Raiden Resources’ (RDN.asx) pegmatites where Li2O values including 3.8% were reported from rock chips.
The project is also located in proximity to Azure Minerals (AZS.asx) 60% owned Andover project which has returned intercepts of up to 209.4m @ 1.42% Li2O and was recently acquired for $1.7 billion.
EMS – Eastern Metals Limited today closed up 20% to finish at 3.6c on $300k stock traded. There was no news out today but roughly a fortnight ago they released its quarterly which highlighted that exploration activities were being fast tracked at the Home of Bullion copper deposit located within its West Arunta Project.
EMS recently released an updated Mineral Resource estimate of 3.1Mt @ 2.9% CuEq for the Home of Bullion copper deposit.
VR8 – Vanadium Resources Limited today closed up another 20% to finish at 6.7c on $140k stock traded. There was no news out today but yesterday they announced they would participate in a series of meetings and discussions across China over the next two calendar weeks.
VR8 has multiple potential offtake partners and strategic equity investors, including the companies with which VR8 has entered into offtake MoUs, namely Matrix, Hexiang, Enerflow and Zhongxin.
This follows an announcement yesterday which saw VR8 entering into a memorandum of understanding with Hunan Zhongxin New Materials Technology.
DTR – Dateline Resources Limited today closed up 18% to finish at 1.3c on $110k stock traded. There was no news out today but roughly a fortnight ago they released its quarterly which highlighted recent drilling results from its Colosseum Project located in California.
Drilling aimed at expanding upon the high-grade sedimentary breccia zone at Colosseum returned assays of up to 76.2m @ 8.62g/t Au.
High-grade gold was also intersected in the felsite breccia unit, outside of the targeted high-grade sedimentary breccia unit.
PEC – Perpetual Resources Limited today closed up 18% to finish at 2c on $2.5m stock traded. The reason they were up today was because they announced the acquisition of the Raptor Rare Earth Project located within the Caldeira REE Complex, Brazil.
The option agreement comprises 4 licenses, which cover a strategic area of 380 hectares all located proximal to Meteoric Resources (MEI.asx) Tier 1 Caldeira ionic clay REE project.
The Caldeira Project boasts a JORC Mineral Resource Estimate of 545Mt @ 2,561ppm TREO comprising 24.1% MREO.
NWM – Norwest Minerals Limited today closed up 14% to finish at 4c on $370k stock traded. The reason they were up today was because they announced gravity survey results from its West Arunta Project located in WA.
Two zones ‘Duck’ and ‘Malibu’ host a number of large, priority-one drill targets defined by coincident gravity-magnetic highs and associated iron oxide copper gold (IOCG) geochemical anomalies.
At Duck, multiple geochemical anomalies including a ~1km wide, north-south striking IOCG geochemical feature of coincident lithium, REE and niobium.
This drill target extends ~2.5kms from a gravity high at the southern tenement boundary to the north where it intersects the 5km belt of high gravity-elevated magnetics recently identified by SGC.
MPK – Many Peaks Minerals Limited today closed up 12% to finish at 23.5c on $120k stock traded. There was no news out today but last week they announced they have completed the acquisition of the Turaco Gold (TCG.asx) & Predictive Discovery’s (PDI.asx) joint venture which holds the right to acquire an 85% interest in four mineral permits in Cote d’Ivoire.
The permits cover an expansive 1,275km2 land package and includes the Ferke Gold Project which contains a 16km mineralised trend in soils and hosts the recent Ouarigue South discovery.
The Ouarigue South prospect has returned assays of up to 35.95m @ 3.88 g/t gold within 77.6m @ 2.33 g/t gold from 45.9m.
LTP – LTR Pharma Limited today closed up 12% to finish at 33.5c on $320k stock traded. There was no news out today but roughly a fortnight ago they released its quarterly which highlighted that its pivotal clinical study of SPONTAN was fully recruited, and dosing of all participants had been completed.
Some might remember this as the old sniff sniff stiff stiff stock & as per last time we wrote about them I still own plenty (by my standards anyway).
SPONTAN is an innovative intranasal spray treatment for Erectile Dysfunction (ED), the nasal spray bypasses the digestive system and is designed to overcome certain issues experienced by some patients using other ED therapies, namely oral tablets.
The study has entered the data evaluation phase with results anticipated in mid-2024, this study represents a critical milestone for LTP as it is designed to show that SPONTAN can disrupt the global PDE5 (Viagra, etc.) marketplace.
What’s Not
CHL – Camplify Holdings Limited today closed down 25% to finish at $1.10 on $3m stock traded. The reason they were down today was because they announced an update to the market regarding the migration and integration of the PaulCamper GmbH platform.
Back in February, CHL began the migration project to move PaulCamper users to a single global platform, although due to technical complexities and customer migration issues, this project was delayed from an original 30 days to the end of April (60 odd days).
The platform migration, and challenges in customer transition, has had a material impact on customer bookings and activity for the period of the migration.
This impact has had a flow on effect to FY24 revenue for CHL of a reduction in revenue for the year of between $3.5m-$4m.
Today’s news shed over $26m off its market cap, that’s about as much value add as you will get from me with a 2 year old in a bath while typing this.
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
Rat Consulting Pty Ltd (ABN 81 148 181 588 ) Authorised Representative (No 001281456) of Sanlam Private Wealth Ltd (ABN 18 136 960 775) holder of Australian Financial Services Licence (AFSL 337 927).