What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – BIM, M2R, OCT, WCN, FTL, GRE, SGM & SS1
What’s Not – ALQ
What’s Hot
BIM – Bindi Metals Limited today closed up 35% to finish at 10.5c on $170k stock traded. The reason they were up today was because they announced the acquisition of the Lisa Antimony-Gold Project & Mutnica Antimony-Copper Project located in Serbia.
Various historical summary reports at Lisa have indicated that antimony mineralisation has been mined with an estimated 60Kt of antimony ore @ 5%-20% Sb.
The licence also hosts the potential for gold mineralisation, previous work in the area notes the presence of gold locally with antimony of up to 2.5g/t Au in hand samples and up to 87g/t silver.
M2R – Miramar Resources Limited today closed up 29% to finish at 0.9c on $160k stock traded. There was no news out today but last week they announced an update on exploration activities within its projects in the Capricorn Orogen of WA.
The maiden RC drilling campaign at its Bangemall Ni-Cu-Co-PGE Projects has now been completed with the core sent to the lab for analysis.
The drilling tested multiple geological and/or geophysical targets at Mount Vernon and Trouble Bore.
OCT – Octava Minerals Limited today closed up 22% to finish at 11c on $380k stock traded. There was no news out today but on Tuesday they announced historical assay results from its Yallalong Project located in WA (which surely you read about on Tuesday night in here).
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.
WCN – White Cliff Minerals Limited today closed up 18% to finish at 2c on $340k stock traded. There was no news out today but late last month they announced exploration results from its Great Bear Project located in Northwest Territories, Canada.
Rock chip samples taken from the Slider Prospect has returned bonanza grades of up to 7.54% Ag (75,439g/t Ag or 2,425 Oz/t Ag).
An additional new E-W structural trend has been identified within the Slider region with over 450m of strike length returning assays up to 904g/t Ag, 6.5% Cu and 8.1% Zn.
FTL – Firetail Resources Limited today closed up 17% to finish at 9.5c on $160k stock traded. The reason they were up today was because they announced the appointment of Mr. Glenn Poole as managing director.
Glenn’s combination of advanced technical and corporate experience will expedite the exploration and development of the recently acquired York Harbour Copper-Zinc-Silver Project located in Newfoundland, Canada.
The York Harbour Project is a Cyprus-type volcanogenic massive sulphide (VMS) copper exploration project covering ~47km2 of highly prospective geology, hosting the historic, high grade York Harbour Copper Mine.
GRE – Greentech Metals Limited today closed up 17% to finish at 11c on $340k stock traded. The reason they were up today was because they announced assay results from its Whundo Copper-Zinc Project located in WA.
Drilling at the Austin and Ayshia Cu-Zn mineralised shoots returned assays of up to 16m @ 1.2% Cu, 0.12% Zn, 0.035g/t Au from 230m & 10m @ 1.2% Cu, 1.2% Zn, 0.09g/t Au from 260m.
Whundo currently hosts a mineral resource estimate (MRE) of 6.2Mt @ 1.12% Cu & 1.04% Zn for 45Kt Cu & 39Kt Zn.
SGM – Sims Limited today closed up 12% to finish at $12.40 on $14m stock traded. The reason they were up today was because they released a guidance on the expected Q1 FY25 trading performance of its metal businesses.
All the metal businesses are on track to contribute to a good start for FY25, particularly North America Metal (NAM) which is estimated to deliver $29m in EBIT and a 22% in trading margin.
This is a massive turnaround from Q3FY24 which saw a loss of $15m, followed by an EBIT of $12m in Q4FY24.
SS1 – Sun Silver Limited today closed up another 10% to finish at 87.5c on $2m stock traded. There was no news out today but yesterday they announced a placement to raise $13m through the boys and girls at Canaccord Genuity (prob read in here last night).
The capital raise consisted of a $8m placement @ 62c along with a $5m cornerstone investment from Nokomis Capital @ 80c which represents a 10.3% premium to the last closing price of 72.5c.
Nokomis Capital is a distinguished US-based investment firm recognised for its long-term strategic approach and strong track record in high-growth sectors.
What’s Not
ALQ – ALS Limited today closed down 9% to finish at $13.67 on $140m stock traded. The reason they were down today was because they released a trading update which revealed that they recently encountered volume headwinds within its minerals division.
Volumes in geochemistry and metallurgy remain patchy and fluctuations have become even more pronounced in July and August.
While minerals margins are down on the previous corresponding period (pcp), margins remain resilient at ~30%.
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).