What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – AUK, WTM, DGR, WCN & MNB
What’s Not – DRO & S32
What’s Hot
AUK – Aumake Limited today closed up 50% to finish at 0.6c on $850k stock traded. The reason they were up today was because they announced a non-binding strategic co-operation was entered with Chinese State-Owned Enterprise Yangtze River New Silk Road International Logistics (Hubei).
Yangtze River is a wholly owned subsidiary of Hubei Port Group with a team of 475 staff, their main operations include multi-modal transport, logistics park management, and integrated transport and trade services.
Under the 3-year framework, Yangtze River intends to purchase a minimum of $100m worth of Australian goods each year for a minimum of $300m.
WTM – Waratah Minerals Limited today closed up 35% to finish at 37c on $640k stock traded. There was no news out today but earlier this month they announced assay results from its Spur Project located in the Lachlan Fold Belt, NSW.
Results received from a further six holes intersected up to 89m @ 1.73g/t Au, 0.08% Cu from 115m including 57m @ 2.50g/t Au, 0.11% Cu from 115m.
The maiden RC drilling program at Spur was designed to test extensions of shallow epithermal gold mineralisation and investigate a potential link with an alkalic porphyry gold-copper system down plunge.
DGR – DGR Global Limited today closed up 26% to finish at 2.9c on $960k stock traded. There was no news out today but last week they announced its 6.6% owned SolGold had entered into a gold only streaming agreement.
The gold streaming agreement is with a syndicate comprising 2/3 Franco Nevada and 1/3 Osisko Royalties for the provision of US$100m in short-term funding to progress the flagship Cascabel copper Gold in northern Ecuador.
The funding package endorses the US$3.2B NPV and after-tax rate of return of 24% in SolGold’s March 2024 PFS which adopts conservative metals prices of copper at $3.85/lb ($4.51 right now) and gold at $1750/oz ($2,427).
WCN – White Cliff Minerals Limited today closed up 23% to finish at 1.6c on $350k stock traded. The reason they were up today was because they announced the appointment of John Hancock as a strategic advisor.
John’s experience in the mining and exploration industry began more than 40 years ago visiting Pilbara iron ore prospects with his grandfather.
His experience in international resource development and capital markets includes the role of senior advisor to The Lind Partners, a US fund that during his tenure has deployed more than $500m to small-cap companies in both Australia and Canada.
MNB – Minbos Resources Limited today closed up 21% to finish at 6.4c on $460k stock traded. There was no news out today but roughly a fortnight ago they announced an update on the funding progress for its Cabinda Phosphate Fertilizer Project located in Angola.
Back in October last year, MNB announced a term sheet was signed with the Industrial Development Corporation of South Africa Ltd (IDC) for a loan facility of US$14m, with credit committee approval received in April this year.
Minbos has also engaged with the Angolan Sovereign Fund (FSDEA) on an equity injection for US$10m-US$15m.
What’s Not
DRO – Droneshield Limited today closed down 21% to finish at $1.55 on $112m stock traded. The reason they were down today was because they released its quarterly report which revealed 1H24 revenues increased by 110% to $24.1m on the previous corresponding period (pcp).
DRO also reported software as a service (SaaS) revenue was up 93% to $1.3m on the pcp, this growth was underpinned by customers requiring the latest AI software engines.
Droneshield has expanded its Sydney facility and its supply chain network, the manufacturing capacity will be increasing from the current $400m p.a. to $500m p.a.
S32 – South32 Limited today closed down 13% to finish at $2.99 on $208m stock traded. The reason they were down today was because they announced an update in relation to regulatory approvals for new mining areas at the Worsley Alumina Project located in WA.
Worsley Alumina is an integrated bauxite mining and alumina refining operation in the South West of WA and is recognised as one of the largest alumina refineries in the world.
Back in 2019, Worsley Alumina commenced the environmental approval process with the WA Environmental Protection Authority (WA EPA) for the Worsley Mine Development Project to enable access to bauxite to sustain production.
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).