What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – BPH, HCL, CTM, LBT, HCH, AW1, AWJ & PSC
What’s Not – CAZ & MOZ
What’s Hot
BPH – BPH Energy Limited today closed up 38% to finish at 2.2c on $1.3m stock traded. The reason they were up today was because yesterday after market they announced its subsidiary Asset Energy had filed an originating application for judicial review in the Federal Court.
This is in regard to a declaration that the Commonwealth-New South Wales Offshore Petroleum Joint Authority has breached an implied duty by failing to make a decision with respect to two pending applications relating to the PEP-11 Permit located offshore Newcastle.
Asset alleges that the failure by the Joint Authority to make a decision with respect to its first application and the second application constitutes a breach of its duty to consider the applications within a reasonable time.
HCL – Highcom Limited today closed up 29% to finish at 22.5c on $2.2m stock traded. The reason they were up today was because they announced an updated FY24 guidance and a company update.
Cash has significantly improved over H2 increasing $1.6m to $6.2m with no debt and $3.2m in current working capital facilities available, HCL believes they won’t need to raise any additional equity.
Over the last 2 days, HCL has received two new ballistics product orders valued at $2.5m & $8.9m.
CTM – Centaurus Metals Limited today closed up 26% to finish at 38.5c on $470k stock traded. There was no news out today but on Monday they announced an updated mineral resource estimate (MRE) for its Jaguar Nickel Project located in Brazil.
The updated MRE has increased by 27% to 138.2Mt @ 0.87% Ni for 1.2Mt of contained nickel including a high-grade component of 36.1Mt @ 1.49% Ni for 537.9Kt of contained nickel.
CTM is working towards a final investment decision (FID) in Q2 2025, completion of the Mining Lease and Installation License (LI) approvals and its strategic partnering process are the key determining factors in the timing of the FID.
LBT – LBT Innovations Limited today closed up 20% to finish at 1.8c on $940k stock traded. The reason they were up today was because they announced an agreement was signed with AstraZeneca to sell five APAS Independence instruments.
The Automated Plate Assessment System (APAS Independence) uses artificial intelligence and machine learning software to automate the imaging, analysis and interpretation of microbiology culture plates.
LBT will also be providing annual maintenance and support services over seven years, the total contract value is between $3.4m to $4.1m depending on the level of maintenance required.
HCH – Hot Chili Limited today closed up 14% to finish at 88c on $300k stock traded. There was no news out today but last week they released its quarterly which highlighted the signing of a memorandum of understanding (MoU) with Puerto Las Losas SA (PLL) for the right to negotiate a binding Port Services Agreement.
The MoU will evaluate bulk tonnage loading alternatives for copper concentrates from its Costa Fuego Copper-Gold Project located in Chile.
Costa Feugo’s pre-feasibility study (PFS) remains on track to be completed in late 2024 with the advancement of multiple development study workstreams, including drilling operations in support of metallurgical and hydrogeological studies.
AW1 – American West Metals Limited today closed up 14% to finish at 12c on $270k stock traded. There was no news out today but roughly a fortnight ago they announced drilling results from its Storm Copper Project located in Nunavut, Canada.
Thick visual copper mineralisation has been intersected in all nine step-out drill holes at the Thunder Prospect, extending the known strike of the mineralisation to over 300m.
One hole intersected a continuous 121.2m thick zone of visual copper sulphide mineralisation from 18.3m downhole while another hit 73.2m thick zone of visual copper sulphide mineralisation from 45.7m downhole.
AWJ – Auric Mining Limited today closed up 10% to finish at 21.5c on $200k stock traded. There was no news out today but roughly a fortnight ago they announced the commencement of its second gold milling campaign for the Jeffreys Find Gold Mine located near Norseman, WA.
The campaign will take around 6 weeks for 150,000 tonnes of ore which will be processed at the Greenfields Mill.
BML (Auric’s joint venture partner) is mining on an around-the-clock basis with around 27,000 tonnes of ore on the ROM Pad at Jeffreys Find, awaiting transport to Greenfields.
PSC – Prospect Resources Limited today closed up 10% to finish at 11c on $100k stock traded. There was no news out today but last week they announced a placement to raise $8m @ 10c through the boys and girls at Canaccord Genuity & Foster Stockbroking.
PSC is also planning to undertake a share purchase plan to raise a further $2m under the same terms, the Directors are intending to participate.
The funds raised will be used to advance exploration and development activities at its recently acquired Mumbezhi Copper Project located in Zambia.
What’s Not
CAZ – Cazaly Resources Limited today closed down 18% to finish at 1.8c on $110k stock traded. The reason they were down today was because they announced drilling had been delayed at its Carb niobium-REE Project located in Ontario, Canada.
The drill program has been delayed due to a new communication from the local First Nations community, with the drill rig and crew already on site.
Cazaly maintains the requisite approvals for the proposed drilling activity is committed to arranging follow up meetings with the community as soon as possible to determine when the program can recommence.
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).