What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – PTR, MAY, WIA, XRG, MIN, PLS & LRS
What’s Not – TKM
What’s Hot
PTR – Petratherm Limited today closed up 90% to finish at 3.8c on $420k stock traded. The reason they were up today was because they announced assay results from its Muckanippie Project located in South Australia.
Mapping, surface sampling, and re-assaying of historic drilling has discovered high-grade Titanium rich heavy mineral sands (HMS) over several kilometers.
The re-assaying of historical intercepts found up to 36m @ 4.0% TiO2 from surface while sample grades ranged from 10% to 50% TiO2.
PTR has established an exploration target over only 10% of the total interpreted prospective HMS area which stands at 237Mt-377Mt @ 5.3%-7.9% TiO2.
MAY – Melbana Energy Limited today closed up 53% to finish at 2.9c on $3m stock traded. The reason they were up today was because they announced an operational update for its 30% owned Block 9 PSC located onshore Cuba.
The first of the next seven new well pads have been approved for construction with permitting of the remaining pads proceeding satisfactorily, each of these pads will be permitted for two production wells.
The contractor for the required civil works is expected to commence work towards the end of the rainy season (around November).
WIA – Wia Gold Limited today closed up 17% to finish at 13.5c on $1.3m stock traded. There was no news out today but last week they announced assay results from its Bouaflé Gold Project located in Côte d’Ivoire.
Drilling intersected two high-grade gold intercepts with assays of up to 4m @ 87.43 g/t Au from 79m & 6m @ 8.51 g/t Au from 93m.
These two drillholes are spaced 200m apart and the mineralisation is fully open along strike and at depth.
XRG – xReality Group Limited today closed up 16% to finish at 4.3c on $2.4m stock traded. The reason they were up today was because they announced a $5.6m contract was awarded from the US Department of Defence.
XRG will be delivering a new immersive training capability and includes supplying Operator XR system licenses along with R&D services.
This project represents the first sale of Operator XR’s immersive training systems to a US Federal Government customer and will be delivered across a period of 20 months starting today.
MIN – Mineral Resource Limited today closed up 16% to finish at $35.12 on $200m stock traded. The reason they were up today was because last night after market they announced the Foreign Investment Review Board (FIRB) had approved the sale of a 49% interest in the Onslow iron haul road to Morgan Stanley Infrastructure Partners (MSIP) for total expected proceeds of $1,300 million.
MSIP is a private infrastructure investment platform within Morgan Stanley Investment Management.
MinRes will receive an upfront cash consideration of $1,100m, the additional deferred cash consideration of $200m will be paid to MinRes subject to Onslow Iron achieving a 35Mtpa run rate for any quarter.
The project will be operationally complete with the completion of the Haul Road in October and remains on track to reach its nameplate 35Mtpa run rate from June 2025.
PLS – Pilbara Minerals Limited today closed up 13% to finish at $2.67 on $224m stock traded. There was no news out today but late month they released its full year results which revealed an 89% fall in statutory profit after tax to $257m.
The massive fall in profit is a result of a 74% fall in the realised price in lithium, which no doubt most of you already know about.
Pilbara announced it received credit approved commitments from a banking group for a new $1B debt facility to refinance its existing project debt and further strengthen its balance sheet.
LRS – Latin Resources Limited today closed up 13% to finish at 18c on $11m stock traded. There was no news out today but roughly a month ago 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 18.69c per share (as of Pilbara’s last closing price of $2.67).
What’s Not
TKM – Trek Metals Limited today closed down 22% to finish at 2.9c on $110k stock traded. There was no news out today but yesterday they announced an option agreement was signed with Advanced Energy Fuels (AEFI) to divest its Hendeka Manganese Project located in WA.
AEFI (US$732m market cap) is a private US company leveraging the transition to clean energy through the development of critical minerals projects in Australia and the USA.
The agreement gives AEFI an option to acquire the Hendeka Project as part of a proposed US listing and by making certain payments and sole funding A$2m of exploration expenditure.
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).