What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – IVX, ION, MX1, EUR, BUS, JBY & QPM
What’s Not – VIC
What’s Hot
IVX – Invion Limited today closed up 100% to finish at 36c on $330k stock traded. The reason they were up today was because they announced the first patient had been dosed in its Phase I/II non melanoma skin cancer (NMSC) trial using topical INV043.
The trial is designed to evaluate the safety and efficacy of INV043, a novel photosensitiser developed in Australia for use in Photodynamic Therapy (PDT) for the treatment of multiple cancers.
PDT uses non-toxic photosensitisers and light to selectively kill cancer cells and promote an anti-cancer immune response, it is less invasive than surgery and has minimal side effects.
ION – Iondrive Limited today closed up 67% to finish at 2c on $1.9m stock traded. The reason they were up today was because they announced a placement to raise $6m @ 1.4c through the boys and girls at Taylor Collison & Prenzler Group.
The placement was completed at a 16.7% premium to the last closing price of 1.2c and attracted institutional investor Terra Capital alongside major cornerstone shareholders Strata Investment Holdings & Ilwella.
The funds raised will be used to fund the construction and operation of a pilot plant for its Li-ion battery recycling technology.
MX1 – Micro-X Limited today closed up 31% to finish at 7.1c on $470k stock traded. The reason they were up today was because they announced a response to a publication on a US Government Agency website.
The website had stated that MX1 was awarded a development contract of US$8,153,718 (A$12.6m).
Micro-X confirms that it is in advanced stages of working with a US Government Agency with respect to a development contract however at this stage it has not received a fully executed contract.
EUR – European Lithium Limited today closed up 30% to finish at 6c on $660k stock traded. There was no news out today but yesterday they announced an environmental impact assessment (EIA) was not required for its Wolfsberg Lithium Project located in Austria.
This is an important step on the way to realizing the project and establishing a European battery supply chain for electromobility.
Wolfsberg is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market.
European Lithium holds 66.4m shares (74.30%) in Critical Metals which based on the last closing price of US$6.81 is valued at US$452m.
BUS – Bubalus Resources Limited today closed up 27% to finish at 14c on $110k stock traded. The reason they were up today was because they announced an option was granted for the acquisition of exploration licences located in the heart of the Victorian goldfields.
The portfolio includes the Crosbie project which is located 18km from Agnico Eagle’s Fosterville Gold Mine (21.6Mt @ 4.28 g/t gold for 3Moz Au) and 20km from Mandalay Resource’s Costerfield Gold Mine (1.25Mt @ 9.8 g/t Au & 2.7% antimony).
Previous exploration had indicated significant potential for gold with high grade gold rock chips collected as well as targets enhanced by recent geophysical surveys.
JBY – James Bay Minerals Limited today closed up another 16% to finish at 86c on $1.1m stock traded. The reason they were up today was because they announced drilling had commenced at its Independence Gold Project located in Nevada, US.
The 2,000m program is designed to test the extension of mineralisation both at depth below the current mineral resource and to the east, an area that has never previously been drill tested.
Diamond drilling aims to provide a clearer understanding of the structural controls on high-grade mineralisation, JBY is also targeting several key extensions to enhance the prospectivity of the project.
QPM – QPM Energy Limited today closed up 10% to finish at 4.5c on $670k stock traded. There was no news out today but roughly a month ago they released its quarterly which highlighted the solid commercial and operating progress towards building a viable business with significant growth options.
Throughout the quarter, QPM announced a drilling update on its 7 production well drilling program located at Teviot Brook South.
The drilling of all vertical wells and 5 of the lateral wells has been completed with the drill rig currently on location drilling the 6th lateral which is scheduled to be completed in November.
What’s Not
VIC – Victoria the State is overdue a spray after what looks to me like some seriously questionable decisions that have been made recently.
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
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