What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – CSX, REZ, FG1, MYG, KLI & DRO
What’s Not – LIC
What’s Hot
CSX – Cleanspace Holdings Limited today closed up 85% to finish at 56.5c on $150k stock traded. There was no news out today but on Tuesday they announced a FY24 sales update.
Sales has increased by 30% to $15.7m on the previous corresponding period, revenue has now grown every half year over the last 4 periods.
CSX continues to perform exceptionally well in Europe, and also experienced very positive revenue growth in both the Asia Pacific and North America regions in H2.
REZ – Resources & Energy Group Limited today closed up 26% to finish at 2.2c on $120k stock traded. There was no news out today but roughly a fortnight ago they announced the first gold pour was expected this quarter from its East Menzies Project located in WA.
The campaign will initially target 5,000 tonnes of ore with a diluted grade of ~4.6gt/ Au, East Menzies currently contains 183koz Au & 862koz Ag.
After establishing the economics of the process, REZ will develop a larger scale vat leach campaign to treat additional shallow resources identified at the Maranoa (8Koz) and Goodenough (43Koz) gold deposits.
FG1 – Flynn Gold Limited today closed up 23% to finish at 3.2c on $2.5m stock traded. The reason they were up today was because they announced exploration results from its Golden Ridge Project located in Northeast Tasmania.
A new high-grade gold vein zone was discovered in trenching 250m north of the Trafalgar mine with rock chip samples returning assays of up to 99.4g/t Au.
A trench channel sampling program returned intervals of 11m @ 2.0g/t Au including 3.3m @ 6.3g/t Au.
Confirmation of the high-grade gold bearing quartz veins in the trench area significantly broadens the known mineralisation footprint of the Trafalgar prospect from a 300m wide corridor to almost 500m wide.
MYG – Mayfield Group Holdings Limited today closed up 15% to finish at 82.5c on $80k stock traded. The reason they were up today was because they announced a dividend of 2c for FY24.
This represents a 100% increase on the previous year and translates into a total payout of $1.829m to shareholders.
Back in February, MYG released its half yearly report which highlighted a 105.9% increase in profit to $2.8m despite a 7.9% fall in revenue to $38.7m.
KLI – Killi Resources Limited today closed up 15% to finish at 15.5c on $1.4m stock traded. There was no news out today but on Wednesday they announced the completion of a ground geophysical survey at the Kaa target within its Mt Rawdon West Project located in QLD.
Processing of the raw data will take 2-3 weeks and will provide an analytical signature for resistive as well as conductive rock units beneath the 1.8km high-grade copper-gold trend at Kaa.
Last week, KLI announced a new epithermal gold system exposed at surface with rock chip assays returning up to 238g/t Au, 2.1% Cu & 513g/t Ag.
DRO – Droneshield Limited today closed up 13% to finish at $1.96 on $55m stock traded. There was no news out today but roughly a month ago they announced a $4.7m contract was awarded from a new non-government Swiss international customer.
DRO will provide multiple vehicle-based counterdrone-drone (C-UxS) systems that can be operated in both static and on-the-move (OTM) missions for convoy and mobile VIP protection.
Payments are expected to be received throughout 2024, with the final payment expected in Q1CY25.
What’s Not
LIC – Lifestyle Communities Limited today closed down 14% to finish at $9.51 on $38m stock traded. The reason they were down today was because they withdrew forward guidance along with its FY24 results.
Lifestyle Communities develops, owns and manages affordable independent living residential land lease communities.
LIC’s operating profit after tax is expected to be in the range of $52.4m-$53.4m which is a decrease of 26.3%-24.8% of $71.1m in FY23.
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).