What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – LRS, ODY, ARV, LSA, OSL, PDI & LTP
What’s Not – RGT
What’s Hot
LRS – Latin Resources Limited today closed up 54% to finish at 18.5c on $39m stock traded. The reason they were up today was because they announced a binding scheme implementation deed was entered with Pilbara Minerals (PLS.asx) to be acquired by scheme of arrangement.
Pilbara Minerals ($8 billion market cap) is the leading ASX-listed lithium company, owning 100% of the world’s largest, independent hard-rock lithium operation.
Under the scheme, Latin shareholders will receive 0.07 PLS shares for every LRS share held, valuing the transaction at 20c per share (as of Pilbara’s last closing price of $2.85).
ODY – Odyssey Gold Limited today closed up 36% to finish at 1.9c on $110k stock traded. There was no news out today but late last month they released its quarterly which highlighted the continued advancement of its flagship Tuckanarra Gold Project located in WA.
Throughout the quarter, ODY increased its mineral resource estimate for Tuckanarra to 5.14Mt @ 2.5g/t Au for 407koz of gold.
Importantly, 4.2Mt @ 2.3g/t for 311Koz of gold is located on granted mining leases and only occupies a small portion of the Tuckanarra Project tenement package.
The deepest intersection at the Highway Zone intersected the structure ~180m below surface and is open down dip.
ARV – Artemis Resources Limited today closed up 33% to finish at 1.2c on $530k stock traded. The reason they were up today was because they announced the discovery of high-grade gold in veins at the Titan prospect within its Karratha Gold Project located in WA.
The Titan prospect tracked for ~700m and remains open with rock chip assays of up to >10,000g/t Au, 6,520g/t Au & 23.8% Cu.
Sampling work was conducted around the Titan prospect with around 300kg material removed, this material was sorted, crushed, separated, gold extracted and a gold bar weighing 10.4oz was subsequently produced.
LSA – Lachlan Star Limited today closed up 29% to finish at 9c on $200k stock traded. The reason they were up today was because they announced assay results from the Basin Creek prospect within its southern Junee Project located in the Lachlan Fold belt of NSW.
Following comprehensive relogging of half-a-century-old diamond drill core, a wide disseminated copper sulphide system was recognised at the Basin Creek Prospect.
Within this system, several zones of semi-massive copper sulphides (chalcopyrite) have been identified with assays of up to 21.3m @ 4.51% cu from 41.1m downhole including 4.6m @ 18.54% cu.
OSL – Oncosil Medical Limited today closed up 20% to finish at 1.2c on $190k stock traded. The reason they were up today was because they announced the successful surgical resection of a pancreatic tumor in the first patient commercially treated with its OncoSil device in Turkey.
The patient, who was initially diagnosed with unresectable locally advanced pancreatic cancer, underwent treatment with the OncoSil device combined with chemotherapy.
Following this combined treatment approach, the patient’s tumor was successfully reduced to a size and state that made it amenable to surgical resection.
PDI – Predictive Discovery Limited today closed up 15% to finish at 22.5c on $7.7m stock traded. The reason they were up today was because they announced Perseus Mining (PRU.asx) acquired a 13.82% strategic investment in the company for $67m.
In addition to the share acquisition, Perseus has an economic interest in approximately 3.45% of PDI shares through cash settled equity swaps.
Perseus Mining ($3.4 billion market cap) is an Australian mining company that currently operates three gold mines in Africa.
LTP – LTR Pharma Limited today closed up 10% to finish at $1.375 on $3.9m stock traded. There was no news out today but on Tuesday they announced a co-development agreement was entered with Aptar Pharma.
Aptar Pharma (US$9.5 billion market cap) is a trusted partner to many pharmaceutical companies to bring drug delivery solutions to market quickly and efficiently.
Aptar Pharma has supported numerous market authorisation holders in obtaining their combination drug-device product approvals incorporating Aptar’s nasal delivery systems from regulatory agencies such as the FDA.
What’s Not
RGT – Argent BioPharma Limited today closed down 42% to finish at 16.5c on $69k stock traded. The reason they were down today was because they announced they were de-listing from the ASX.
The board of RGT believes de-listing is in the best interests of shareholders due to a lack of liquidity, fundraising difficulties and the fact that it is still listed on the London Stock Exchange (LSE).
It hasn’t been the easiest road for RGT shareholders, with the company trading north of $120 back in 2021.
RGT (formerly MGC Pharmaceuticals MXC.asx) wasn’t really $120, but the price was adjusted due to the completion of a 1,000 to 1 consolidation.
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).