What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – LM1, MTM, COD, PTX, BDG, OMA & PTR
What’s Not – IRI
What’s Hot
LM1 – Leeuwin Metals Limited today closed up another 35% to finish at 13.5c on $150k stock traded. There was no news out today but last Friday they announced the acquisition of the Marda Gold Project from Ramelius Resources (RMS.asx).
The Marda Gold Project spans over 500km² of granted mining, exploration, and prospecting leases in the renowned Western Australian Goldfields.
The project includes multiple existing pits on granted mining leases with high grade intercepts of up to 2m @ 16.75g/t Au from 12m.
MTM – MTM Critical Metals Limited today closed up 31% to finish at 19c on $5.2m stock traded. The reason they were up today was because they announced a strategic placement to raise $7.5m @ 14.5c through Peloton Capital, Sandton Capital & GBA Capital.
The placement included a $4m investment from Pengana Capital, increased holdings from substantial shareholder Terra Capital and backing from a substantial international family office.
Pengana Capital manages about $3.5B in assets and has backed similar companies including Iperionx (IPX.asx), the $1.5B titanium processing technology company.
COD – Coda Minerals Limited today closed up 20% to finish at 8.4c on $250k stock traded. There was no news out today but last week they announced drilling would commence at its Elizabeth Creek Project located in South Australia’s Olympic Copper Province.
The drilling program which is set to begin in February will target additional low-cost open pittable tonnes proximal to the MG14 and Windabout deposits along with extensions to the underground Emmie Bluff deposit.
Emmie Bluff contains a mineral resource estimate of 40.2Mt @ 1.27% copper, 569ppm cobalt, 17g/t silver and 0.17% zinc 1.87% copper equivalent (CuEq).
PTX – Prescient Therapeutics Limited today closed up 20% to finish at 4.9c on $900k stock traded. The reason they were up today was because they announced the U.S. FDA had cleared the investigational new drug (IND) application for the Phase 2 clinical trial of PTX-100.
PTX-100 is a first in class compound with the ability to block an important cancer growth enzyme known as geranylgeranyl transferase-1 (GGT-1).
The Phase 2 trial builds on compelling Phase 1b data demonstrating PTX-100’s potential to address key unmet medical needs in T-cell lymphomas (TCL) including refractory cutaneous T-cell lymphomas (r/r CTCL).
BDG – Black Dragon Gold Corp Limited today closed up 16% to finish at 5.2c on $180k stock traded. There was no news out today but earlier this month they announced the Council had voted against its application for land re-zoning for the Salave Gold Project located in northern Spain.
The application was formally accepted by the Council in February, nine months later, despite the efforts of the company permitting of this economically and socially important project has yet again been delayed.
Not long before lunchtime they were handed a speeding ticket from the ASX after increasing from 2.8c last Wednesday to an intraday high of 5.8c today.
OMA – Omega Oil & Gas Limited today closed up 12% to finish at 29.5c on $140k stock traded. There was no news out today but back in late October they announced the completion of a drill program at its Canyon-1H horizontal well located in the Bowen Basin in Southern QLD.
The well reached a total depth (TD) of 4,616 meters and casing has been run to TD and cemented, drilling recorded strong gas shows with fluorescence indicating the presence of condensate.
OMA is now in a strong position for the upcoming multi-stage hydraulic fracture stimulation, flow back, and well testing program.
PTR – Petratherm Limited today closed up 11% to finish at 29.5c on $300k stock traded. There was no news out today but earlier this month they announced maiden drill results from the Rosewood Prospect within its Muckanippie Project located in South Australia.
Assay results from the first 5 step out drill holes over a 2km trend have intersected up to 22m @ 19.1% HM (heavy minerals) from 8m including 1m @ 39.7% HM.
The initial small batch was fast tracked to confirm nature of mineralisation and to ensure HM could be recovered using standard heavy liquid separation (HLS) methods.
What’s Not
IRI – Integrated Research Limited today closed down 16% to finish at 46c on $850k stock traded. The reason they were down today was because they announced a trading update which revealed an anticipated revenue decrease (midpoint) of 34% to $25m to $29m in 1H.
EBITDA for the 1H is also anticipated to be in the range of $(0.5m) to $2m, a decrease of 93% (midpoint) versus the previous corresponding period (PCP).
Total contract value (TCV) from client contracts due for renewal in the second half of FY25 is significantly stronger than the first half, which should help a few metrics later on.
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).