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Thursday 25 July 2024

What’s Hot – AKM, RCR, KRR, SUM, TNY, PL3, BIO, RAC & SS1

What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso

What’s Hot – AKM, RCR, KRR, SUM, TNY, PL3, BIO, RAC & SS1
What’s Not – MAY

What’s Hot
AKM – Aspire Mining Limited today closed up another 30% to finish at 39c on $640k stock traded. There was no news out today but back in April they announced findings from a comprehensive marketing study completed on its Ovoot Coking Coal Project located in Mongolia.

The Ovoot Coking Coal project has been classified as FM36 Metabituminous coal, a high-quality and sought-after product used in coke production (coal that is not caine).

Aspire plans to truck coal from the Ovoot mine site to a rail terminal near the city of Erdenet in northern Mongolia, where it will be transported into China.

The Ovoot washed coal has medium ash, medium Sulphur, high G index, low CSR, and high CRI characteristics which offer advantages over Chinese domestic fat coals.

RCR – Rincon Resources Limited today closed up 21% to finish at 8.9c on $1.8m stock traded. There was no news out today but yesterday they announced exploration results from the Pokali Prospect within its West Arunta Project in WA.

A new dipole-dipole induced polarisation (DDIP) geophysical survey has identified a 2.7km long induced polarisation (IP) chargeability trend.

Planning for a RC drill program to directly test the new targets is underway, along with an additional 3 infill DDIP survey lines at Pokali to refine the trend.

Drilling contractors have also recently been locked-in to drill the high priority Avalon target; the program will encompass up to 6,000m of combined RC and DD drilling.

KRR – King River Resources Limited today closed up 20% to finish at 1.2c on $250k stock traded. There was no news out today but a fortnight ago they announced a drilling update for its Tennant Creek Project located in the NT.

KRR had completed its planned RC drilling at the Langrenus target with the rig moving to commence work at the Commitment target.

Drilling tested two main areas along the Mauretania-Hopeful Star trend, with target area 1 being only 700m from the nearest historical mining and 1km along strike of the Mauretania prospect where Emmerson Resources (ERM.asx) returned up to 20m @ 38.5g/t Au.

SUM – Summit Minerals Limited today closed up another 20% to finish at 49c on $4m stock traded. There was no news out today but last week they announced rock chip assays from its Equador Project located in Brazil.

The assays have confirmed high grade niobium and tantalum over a 1.2km strike length with highlights of 40.84% Nb2O5, 34.16% Ta2O5 & 9,070 ppm partial rare earth oxides (PREO).

Assays have now been sent to another lab so that a full suite analysis on the sample can be contacted, enabling them to announce the TREO percentage as well as potentially other elements contained within the samples.

TNY – Tinybeans Group Limited today closed up 19% to finish at 7.4c on $130k stock traded. The reason they were up today was because they announced a strategic partnership was secured with Babylist to deliver brand awareness, subscriber growth and sales revenue for Tinybeans in the US.

Babylist is a leading US-based digital parenting platform which helps over 9m people make purchases through its baby registry, app, e-commerce shop and comprehensive product guides.

Tinybeans acquires over 70% of its new subscribers in the third and fourth trimesters of pregnancy and sees high engagement and retention over multiple years, making it a compelling opportunity for TNY.

PL3 – Patagonia Lithium Limited today closed up 16% to finish at 11c on $310k stock traded. The reason they were up today was because they announced exploration results from its Formentera Lithium Project located in Northern Argentina.

Formentera returned assays of up to 582ppm Li from a 200L packer test conducted on the second well.

Porosity tests from well one was extremely high at 27%-47% total porosity, showing the aquifer at more than 200m in depth.

Both wells have been lined with PVC tubing ready for NMR (nuclear magnetic resonance) porosity and permeability logging which will be undertaken when all four wells are completed.

BIO – Biome Australia Limited today closed up 15% to finish at 42.5c on $1.3m stock traded. There was no news out today but last week they announced a trading update for Q4 FY24.

Biome has reported strong growth in FY24 has continued in Q4 with record sales revenue for April and May.

BIO has now forecasted its revenue to be $12.5m in FY24 in comparison to a previous guidance of $11.5m which was reported back in October last year.

Biome’s cholesterol-lowering probiotic is also scheduled for launch in Q1 FY25, clinical trial results have shown a 14% reduction in cholesterol levels in a 12-week period.

RAC – Race Oncology Limited today closed up 15% to finish at $2.01 on $1.4m stock traded. The reason they were up today was because they announced the FDA had extended its rare paediatric disease designation (RPDD) to RC220 bisantrene for the treatment of childhood (paediatric) subtypes of adult acute myeloid leukemia (AML).

The RPDD for paediatric AML may enable RAC to be eligible to receive a priority review vouched (PRV) from the FDA.

The PRV can be redeemed for an accelerated 6-month review of RC220 bisantrene or any other new drug application submitted to the US FDA.

SS1 – Sun Silver Limited today closed up 10% to finish at 50c on $3.7m stock traded. The reason they were up today was because they announced assay results from its Maverick Springs Silver Project located in Nevada, US.

An ongoing comprehensive review of historical data has identified a high-grade target zone on the north-west border of the Maverick Springs resource with assays of up to 54.86m @ 303.08g/t Ag from 202m including 1.5m @ 6,216g/t Ag from 240m.

These high-grade zones are significantly larger than the average grades and intercepts of the Maverick Springs JORC modelled ore body that is 292Moz silver equivalent @ 72.4g/t.

What’s Not
MAY – Melbana Energy Limited today closed down 32% to finish at 4.5c on $4m stock traded. The reason they were down was because yesterday after market they announced exploration results from its appraisal well Alameda-2 within its 30% owned Block 9 PSC located onshore Cuba.

Drilling reached a total depth of 3,880m deep with logs indicating significant natural fracturing.

Two attempts were made at flowing the well, however in both cases the complete removal of drilling mud and downhole fluids from the test string was not achieved and oil did not flow to surface.

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).

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