What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – OCT, BTH, AON, NVA, CRI, SKY, LYN, PTM & TSO
What’s Hot
OCT – Octava Minerals Limited today closed up 90% to finish at 9.1c on $2.6m stock traded. The reason they were up today was because they announced historical assay results from its Yallalong Project located in WA.
Drilling completed back in 2015 at the Discovery prospect returned high-grade antimony intersections of up to 3m @ 6.83% Sb from 21m & 7m @ 3.27% Sb from 12m.
The antimony mineralisation identified at Yallalong appears to occur within a 10km north-south striking mineralised corridor.
BTH – Bigtincan Holdings Limited today closed up 38% to finish at 16.5c on $2m stock traded. The reason they were up today was because they announced a non-binding indicative offer (NBIO) was received from Vector Capital Management to be acquired for 20c in cash.
The Board of Bigtincan will evaluate the revised proposal with input from external advisors, including as to value and sources of funding prior to engaging with Vector.
Back in June, BTH received a NBIO from Vector Capital Management to be acquired for 25c in cash.
AON – Apollo Minerals Limited today closed up 22% to finish at 2.8c on $140k stock traded. There was no news out today but late last month they announced new gold targets were identified at its Salanie Gold project located in Gabon.
Results from pre-drill exploration activities identified visible gold in quartz veining assaying up to 429g/t Au & 125g/t Au.
AON has defined numerous new target soil anomalies (assays up to 1.9g/t Au), with a focus on the Binda and Mikouma areas.
Roughly a month ago, AON commenced its maiden drill program across the 12km highly prospective underexplored greenstone belt, the initial program will target approximately 1,200m of diamond drilling at three key prospects: A1 A3 and P6.
NVA – Nova Minerals Limited today closed up 20% to finish at 18c on $120k stock traded. There was no news out today but last month they announced an update on its antimony-gold prospects at the Stibium & Styx prospects within its 500km2 flagship Estelle Project located in Alaska.
Over 2,500kg of bulk sample material potentially containing massive stibnite (the most important source of antimony) has been collected from Stibium and 500kg from Styx, for metallurgical test work.
The test work will help develop a process flow sheet and plant design in anticipation of a fast-track production scenario.
CRI – Critica Limited today closed up 18% to finish at 1.3c on $130k stock traded. The reason they were up today was because they announced assay results from its Brothers Project located in WA.
Drilling at Jupiter Satellite has returned assays results of up to 8m @ 4,256ppm TREO (total rare earth oxides) with drill intersections containing up to 34% magnet rare earth oxides (MREO) & low uranium and thorium.
Importantly, the assays are 40km to the east of the flagship Jupiter Project which expands the highly prospective tenure to over 1,353km2.
SKY – Sky Metals Limited today closed up 18% to finish at 4c on $100k stock traded. The reason they were up today was because they announced ore sorting results from its Tallebung Tin Project located in NSW.
The latest TOMRA ore sorting test work has shown a substantial increase in tin grade with reasonable recovery of tin in less than 2% of the original mass.
A 0.10% tin sample was upgraded to 4.42% tin (44x upgrade) & 342g/t silver with 83% recovery of tin achieved from 1.9% of the total mass, representing a 98.1% reduction in the sorted mass.
LYN – Lycaon Resources Limited today closed up another 16% to finish at 33c on $480k stock traded. There was no news out today but yesterday they announced heritage clearance approval was received for its Stansmore Nb-REE/IOCG target located in the West Arunta, WA.
Drilling will target a regionally prominent 500m diameter magnetic feature (Stansmore) and a larger ~3km wide magnetic anomaly (Volt and Ions).
Further geophysical modelling was recently completed which has assisted drill targeting, LYN is aiming to commence drilling in late October, it is expected to take 2-4 weeks to complete.
PTM – Platinum Asset Management Limited today closed up 13% to finish at $1.115 on $12.5m stock traded. The reason they were up today was because they announced an unsolicited confidential, non-binding, indicative proposal was received from Regal Partners (RPL.asx) to be acquired via a scheme of arrangement.
The old sneaky Regal swooping like a Sea Eagle in the Eastern Suburbs on a Friday night – good luck to old mate PK who may or may not read this tonight after getting Ethan ready to roar on Friday night against the Roosters.
Under the proposal, PTM shareholders would receive 0.274 Regal shares for each Platinum share held (currently valued at ~87.6c), along with a 24c full franked special dividend to shareholders (for a total $1.1168).
TSO – Tesoro Limited today closed up 10% to finish at 3.3c on $200k stock traded. There was no news out today but back in July they announced a placement to raise $9.7m @ 3c through Unified Capital Partners, Morgans Corporate & Tamesis Partners.
The placement included a $1.2m commitment from strategic partner Gold Fields Limited for a 17.52% interest in the company.
The funds raised will be applied towards ongoing resource growth of the existing 1.3Moz Ternera Gold Deposit within its El Zorro Project located in Chile.
The proceeds will also be used for exploration drilling of high-priority gold targets proximal to Ternera, including recent discoveries at Drone hill and Ternera East, regional target generation and further technical and economic study advancement at El Zorro.
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.
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