What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – WML, SGQ, SUM, HCL, KRR, LTP, COV & EXR
What’s Not – ACW
What’s Hot
WML – Woomera Mining Limited today closed up 33% to finish at 0.4c on $120k stock traded. The reason they were up today was because they announced a earn-in term sheet was entered with Kincora Copper (KCC.asx) granting WML the right to earn up to a 100% interest in the Bronze Fox project located in Mongolia.
The Bronze Fox Project covers 175km2 in the Southern Gobi porphyry belt, Kincora has previously defined three shallow, large porphyry complexes.
Bronze Fox currently holds a JORC compliant mineral resource estimate of 194Mt @ 0.26% copper equivalent (CuEq) along with an exploration target of 100Mt-300Mt @ 0.25%-0.35% CuEq.
SGQ – St George Mining Limited today closed up 32% to finish at 3.3c on $1.9m stock traded. The reason they were up today was because they announced an update on its proposed acquisition of the advanced, high-grade niobium-REE Araxá Project located in Minas Gerais, Brazil.
SGQ was made aware of claims made online that an active tailings dam is located within the project area and that the significant high-grade mineralisation discovered at the Project is beneath the tailings dam.
SGQ has stated that this information is false and that no other tailings dams – neither historical nor presently active – are within the project area or proximal to the project.
SUM – Summit Minerals Limited today closed up 31% to finish at 23.5c on $860k stock traded. There was no news out today but last week they announced 6 new tenements were acquired in Brazil.
One of the newly acquired tenements adjoins its Equador Niobium and Tantalum Project which recently returned up to 53% Nb2O5 & 47.17% Ta2O5.
Once formal Government approval has been received, Summit intends to commence initial exploration works on the tenements immediately thereafter.
SUM recently completed a LiDAR survey on the Equador Project with results due soon, magnetic survey contractors have also been engaged with a survey expected to begin this month.
HCL – Highcom Limited today closed up 29% to finish at 22.5c on $2.2m stock traded. There was no news out today but last week 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.
The company wide review to improve its profitability continues, with a FY24 H2 EBITDA of approximately $2m.
KRR – King River Resources Limited today closed up 20% to finish at 1.2c on $130k stock traded. There was no news out today but last month they released its quarterly which highlighted the commencement of a drilling program at the Langrenus & Kurundi Prospects within its Tennant East Project located in the NT.
KRR completed drilling at the Target Area 1 within Langrenus which is only 700m from historical mining and 1km along strike of the Mauretania prospect where Emmerson (ERM.asx) returned a best drill result of 20m @ 38.5g/t Au.
A significant quartz hematite zone was intersected in Area 1, the overall zone is 20m down hole thickness with varying intensity of quartz veining and hematite in iron altered Warramunga siltstone units.
LTP – LTR Pharma Limited today closed up 18% to finish at 96.5c on $1.2m stock traded. There was no news out today but last week they announced a second medical practitioner has been authorised to prescribe SPONTAN under the TGA Special Access Scheme (SAS).
Dr Tom Silva, an expert in men’s health, Senior Lecturer in General Practice at the University of Queensland and Director of Kangaroo Point Medical Centre, has begun prescribing SPONTAN for select patients.
Young wheelbarrow has already spoken with him last week, he won’t tell me if he’s been approved for the sniffy stuffy but will get it out of him sooner or later.
Men’s health experts are increasingly interested in SPONTAN’s improved side effect profile as an alternative to oral therapies.
COV – Cleo Diagnostics Limited today closed up 15% to finish at 41.5c on $340k stock traded. There was no news out today but roughly a fortnight ago they announced initial US clinical trial sites had been selected in support of its FDA application for its ovarian cancer diagnostic blood test.
Prior to submission with FDA, COV will complete a study that will benchmark its technology through a 500-patient clinical trial.
The first patients are being recruited with the trials to begin mid-August; CLEO is pursuing expedited FDA approval via the 510(k)-application pathway.
EXR – Elixir Energy Limited today closed up 12% to finish at 11c on $410k stock traded. There was no news out today but last week they announced an update on the Daydream-2 program in its 100% owned Grandis Project located in QLD’s Taroom Trough.
Elixir is in the final stages of mobilizing all equipment for the Daydream-2 stimulation and testing program.
Over the weekend, the plug set above the Lorelle Sandstone was due to be milled out and post stimulation flow testing of the Lorelle sandstone will follow immediately after.
What’s Not
ACW – Actinogen Medical Limited today closed down 59% to finish at 3.1c on $4.5m stock traded. The reason they were down today was because they announced results from a phase 2a XanaCIDD trial of Xanamem in patients with cognitive dysfunction and major depressive disorder (MDD).
Xanamem was safe and well-tolerated with a MADRS depression score improvement in all 165 patients favouring Xanamem over the placebo.
Although, the primary endpoint of superiority to placebo in a cognitive attention composite of three Cogstate computerized tests was not met.
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
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