What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – G50, ILA, OCC, AKN, OVT & RAD
What’s Not – BDG
What’s Hot
G50 – G50 Corp Limited today closed up 38% to finish at 20c on $345k stock traded. There was no news out today other than they have issued stock from the recent institutional placement which raised them $5.6m @ 15c.
Following completion of the Placement, the company will have approximately 160 million shares on issue.
Funds raised from the placement will primarily support a maiden drilling program at the White Caps gold project in Nevada and a significant follow up drilling program at the company’s high grade gallium halo discovery and precious metals discovery at Golconda in Arizona.
As part of the planned program, the company will commence mineralogy and bench scale metallurgical test work.
ILA – Island Pharmaceuticals Limited today closed up 30% to finish at 21.5c on $1.3m stock traded. The reason they were up today was because they released that ISLA-101 has shown safety and anti-dengue activity in the Phase 2a cohort of the PROTECT Phase 2a/b trial.
ILA is a drug repurposing company, focused on areas of unmet need for antiviral therapeutics to address infectious diseases.
Their lead asset is ISLA-101, a drug with a well- established safety profile, being repurposed for the prevention and treatment of dengue fever and other mosquito (or vector) borne diseases.
OCC – Orthocell Limited today closed up 27% to finish at 80.5c on $3.1m stock traded. The reason they were up today was because they announced it has appointed Device Technologies Asia (“DVT Asia”) as the exclusive distributor of market leading peripheral nerve repair device Remplir™ in Singapore.
Singapore represents the first major international market launch outside the existing markets of Australia and New Zealand.
Remplir has rapidly growing sales in the Australian and New Zealand markets, with an increasing number of surgeons using and endorsing its unique repair qualities.
AKN – Auking Mining Limited today closed up 25% to finish at 0.5c on $110k stock traded. The reason they were up today was because they announced that it has secured important funding for ongoing exploration activities together with initial funding for a proposed earn-in right in respect of a gold project near Cloncurry in northern Queensland.
Benwest Investment Services Pty Ltd to place to a group of sophisticated and professional investors the shortfall that arose from AuKing’s recent rights issue entitlement offer – a total of 197,963,982 new shares will be issued at $0.007 per share to raise $1.385M before issue-related costs.
There will also be a few changes to the board but long-time reader and friend of the show Paul Williams will remain on as MD, which was pleasing to read as he’s a top bloke.
OVT – Ovanti Limited today closed up 13% to finish at 2.7c on $3.9m stock traded. There was no news out today but yesterday they did announce that EAS Advisors have been appointed as OVT’s US capital market advisory firm to accelerate growth plans in the US BNPL market, including exploring a suitable US exchange for a dual listing of OVT’s securities (ideally the NASDAQ).
Founded in 2008 by long time Rant reader Mr Edward ”pass the” Sugar, EAS provides a range of services to clients, including institutional market engagement, equity and debt raising and M&A and capital markets advisory.
Since its inception, EAS has participated in over US$6.5 billion of successful transactions. EAS operates under the broker-dealer license of Odeon Capital Group LLC – a member of FINRA/SIPC/MSRB/NFA.
RAD – Radiopharm Theranostics today closed up 11% to finish at 3.1c on $185k stock traded. The reason they were up today was because they too will be listing also over in the US via American Depositary Shares (“ADSs”) under the ticker symbol “RADX”.
They are listing on the Nasdaq which is a secondary listing and complements the company’s existing primary listing of ordinary shares on the ASX.
The company completed the Nasdaq listing without an associated capital raise in the United States.
Therefore, initial trading of ADSs may be limited due to the time it takes for existing shareholders to deposit their RAD ordinary shares into the ADR program and receive ADSs for trading on Nasdaq.
What’s Not
BDG – Black Dragon Gold today closed down 22% to finish at 3.9c on $200k stock traded. There was no news out today and nor has there been for about a month when they raised cash with some high-net-worth Spanish investors.
It’s been a wild ride for these Spanish guys, the stock was 1.5c in mid-October, it traded as high as 8c in mid-November and now here they are again.
Do the Spanish make the first move or the Aussies, no idea but it has been fun watching from a far with some popcorn, dare say we will see more from these guys soon.
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).