What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – KOB, ARN, BUS, WCN, PCL, DUN & TOR
What’s Not – SYR & VNT
What’s Hot
KOB – Koba Resources Limited today closed up 29% to finish at 9c on $200k stock traded. The reason they were up today was because they announced assay results from its Yarramba Uranium Project located in South Australia.
Drilling at the Berber Prospect has intersected high-grade mineralisation over 700m of strike with assays of up to 1.6m @ 1,026ppm eU3O8 from 91.5m, the prospect remains open in all directions.
Planning is well underway to undertake further drilling in early 2025 to better define the mineralisation across the 700m of known strike and to test for extensions of the mineralisation.
ARN – Aldoro Resources Limited today closed up 27% to finish at 32.5c on $2.1m stock traded. The reason they were up today was because they announced further trenching assay results from its Kameelburg REE & Niobium Project located in Namibia.
Assays for line 3 have returned 220m @ 0.70% Nb₂O₅ including 90m @ 1.12% Nb₂O₅, there is currently an additional 168m pending assay results.
Line 3 is located approximately 500m to the southwest of the previously reported line 4 which returned 262m @ 0.52% Nb₂O₅ including 94m @ 0.93% Nb₂O₅.
BUS – Bubalus Resources Limited today closed up 22% to finish at 14c on $110k stock traded. The reason they were up today was because they released an investor presentation highlighting the recent 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.
WCN – White Cliff Minerals Limited today closed up 12% to finish at 1.9c on $500k stock traded. There was no news out today but late last month they announced the acquisition of Victoria Copper for a total consideration of C$700k.
Victoria Copper holds an exploration licence that covers the historical Danvers copper deposit and lies within the broader Rae Copper region of Nunavut, Canada.
The licence currently contains a non JORC compliant historic mineral resource estimate of 4.16Mt @ 2.96% Cu (2% cut-off Cu).
PCL – Pancontinental Energy Limited today closed up 11% to finish at 2.1c on $620k stock traded. There was no news out today but last month they announced an update for its PEL 87 project located offshore Namibia.
Pancontinental is pleased to report that the seismic license for PEL 87 has now been approved by the relevant Namibian authority and delivered to Woodside Energy (WDS.asx $45B market cap).
Woodside may now exercise its option to farm-in to PEL 87 within 180 days (18th of May 2025), now that they received an instrument in the form of a seismic license.
DUN – Dundas Minerals Limited today closed up 10% to finish at 3.2c on $250k stock traded. The reason they were up today was because they announced assay results from its Windanya Gold Project located in WA.
Drilling discovered a new zone of gold mineralisation between the historic Milford and Windanya North gold prospects within its granted mining lease.
Gold mineralisation now extends over ~1km along strike with assays returning up to 12m @ 1.9g/t gold from 72m & 16m @ 1.5g/t gold from 68m.
TOR – Torque Metals Limited today closed up 10% to finish at 5.4c on $170k stock traded. There was no news out today but last month they announced assay results from its Paris Gold Project located in WA.
Drilling confirmed new high-grade gold mineralised lodes outside the recently announced mineral resource estimate (MRE) with assays returning up to 15m @ 12.57 g/t gold from 215m.
Results indicate a thick, high-grade gold structure with strong continuity that remains open and lies in a gentle dip that if mined, can be more accessible and cost-effective than steeper lodes.
What’s Not
SYR – Syrah Resources Limited today closed down 28% to finish at 19c on $11.5m stock traded. The reason they were down today was because they declared a force majeure event concerning its Balama Graphite Operation in Mozambique.
For those of you who are unaware, force majeure is a term used in contract law to describe an extraordinary event that prevents a party from fulfilling their contractual obligations.
SYR declared force majeure on its contracts because it did not have enough graphite stockpiled to continue selling to customers.
Nationwide protests associated with the electoral process is causing widespread disruptions throughout Mozambique, including at several mining operations.
VNT – Ventia Services Group Limited today closed down 23% to finish at $3.33 on $84m stock traded. The reason they were down today was because they announced the ACCC had started civil proceedings against Ventia and two of its employees along with Downer EDI (DOW.asx).
Spotless (DOW’s subsidiary) and Ventia each provide services to defence under separate billion-dollar contracts to over 200 major Australian Defence Force (ADF) bases and other properties across Australia.
The ACCC alleges that on three occasions Ventia and/or Spotless made or attempted to make arrangements or understandings containing provisions which had the purpose of fixing, controlling or maintaining the prices at which these services would be supplied to defence under specific programs of works.
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).