What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – EEL, BEZ, AMS, KAI, AMD, LRV & LAT
What’s Not – DRO
What’s Hot
EEL – ENRG Elements Limited today closed up 50% to finish at 0.3c on $400k stock traded. The reason they were up today was because they announced the acquisition of the Lamont Lake Uranium Project located in Saskatchewan, Canada.
Historical shallow grade mineralisation occurs from near surface to 57m and with grades of between 0.02% and 0.5% U3O8.
Based on a historical airborne radiometric survey, significant radioactive areas and isolated occurrences were identified over the area with a total of 48 anomalies located.
BEZ – Besra Gold Limited today closed up 45% to finish at 8.7c on $870k stock traded. The reason they were up today was because they announced the appointment of Mr Matthew Antill as managing director.
Mr Antill’s career spans over three decades in mining and mine development, with significant senior operational management experience and oversight of studies in both open pit and underground operations.
As Chief Production and Mine Development Officer at Monument Mining, he played a pivotal role in the commencement of multiple open pit mines and commissioning the ~1mtpa sulphide gold processing circuit at the Selinsing Gold Mine in Malaysia.
AMS – Atomos Limited today closed up 25% to finish at 4.5c on $440k stock traded. There was no news out today but last night they released its quarterly which highlighted the highest quarterly revenue for FY24 of $9.7m.
Throughout the quarter, AMS announced the launch of two new products being the Ninja Phone and SunDragon (LE lighting system).
AMS is well progressed on its detailed cost restructure, having already significantly reduced staff costs to under 70 permanent staff (from 90) which is expected to be complete by Q1 FY25 with targeted EBITDA breakeven around $45m of sales.
KAI – Kairos Minerals Limited today closed up 25% to finish at 1c on $460k stock traded. The reason they were up today was because they announced the sale of its non-core Mt York Project to Pilbara Minerals (PLS.asx) for $20m.
The tenure being sold contains a gold resource of 230K oz in two small satellite gold deposits that are non-core to the Mt York Gold Project, it does not include its main trend which contains 43Mt @ 1 g/t for 1.385Moz.
KAI will receive $10m cash on the completion date and a further $10m in cash or equity 10 business days after the earlier of the grant date of the M45/1307 application or other agreed tenure over the same area.
AMD – Arrow Minerals Limited today closed up 20% to finish at 0.3c on $200k stock traded. The reason they were up today was because they announced the acquisition of the Niagara Bauxite Project located in Guinea.
The Niagara Bauxite Project combined with its Simandou North Iron Project (SNIP) are projects with significant scale potential and operating synergies.
The SNIP is host to approximately 40km interpreted strike of the Simandou iron formation which is the important host rock of the combined Simandou iron ore project which contains 4.6Bt @ 65% Fe.
LRV – Larvotto Resources Limited today closed up 17% to finish at 14c on $1.4m stock traded. There was no news out today but yesterday after market they released its quarterly which highlighted a new exploration target for its Hillgrove Project located in NSW.
The Hillgrove Project has a mineral resource of 1.4Moz @ 6.1g/t AuEq and an exploration target of 2.8Mt-3.6Mt @ 7.4g/t-9.46g/t AuEq for 670k-1.08Moz AuEq.
Hillgrove has been established as one of the world’s top 10 global antimony deposits and the largest in Australia, in addition to its high-grade gold.
LAT – Latitude 66 Limited today closed up 14% to finish at 12c on $80k stock traded. There was no news out today but yesterday they released its quarterly which highlighted the acquisition of Latitude 66 Cobalt Limited, an entity that holds advanced gold and cobalt assets in northern Finland.
Back in April, LAT completed a successful diamond drilling campaign at K South (within the Kuusamo Schist Belt (KSB) Project) targeting mineralisation extensions at the highly prospective K9 and K13 prospects.
Some of the best intersections included 22.4m @ 2.4g/t Au, 0.07% Co & 0.16% Cu from 43.6m.
The K9 prospect represents a significant growth opportunity for the company to add substantial ounces to the already significant global resource base within the KSB Project of 7.2Mt @ 2.7g/t Au for 650Koz Au.
What’s Not
DRO – Droneshield Limited today closed down 15% to finish at $1.185 on $65m stock traded. The reason they were down today was because they announced a placement to raise $120m @ $1.15 through Bell Potter Securities, Macquarie Capital & Shaw and Partners.
The funds raised will be used to fund artificial intelligence (AI) R&D into new counterdrone (C-UxS) products and new generations of existing products in response to end user requirements to fuel its rapid growth.
Extending its R&D into new products and new generations of existing products is expected to further entrench its position as the market leader in the rapidly evolving C-UxS market.
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).