What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – ATC, LM8, IBX, SIG, TOE, 5EA & MM8
What’s Not – CAN
What’s Hot
ATC – Altech Batteries Limited today closed up 47% to finish at 5.6c on $670k stock traded. The reason they were up today was because they announced its first CERENERGY ABS60 battery prototype was online and operating successfully.
The ABS60 CERENERGY battery pack is a high-performance energy storage system with a total capacity of 60kWh.
The battery is ideal for applications requiring consistent performance and reliability in challenging environments being dust and weatherproof.
The ABS60 battery has outperformed early expectations, exhibiting exceptional efficiency and robust performance across all key metrics.
LM8 – Lunnon Metals Limited today closed up 39% to finish at 23c on $1.1m stock traded. The reason they were up today was because they announced assay results from the Lady Herial prospect within its Kambalda Gold & Nickel Project (KGNP) located in WA.
Two, thick, parallel mineralised structures have been identified with assays returning up to 23m @ 16.61g/t Au from surface & 13m @ 4.10g/t Au from 3m.
The Lady Herial gold prospect is hosted in the Defiance Dolerite, a known favourable host for gold in the immediate vicinity of the Victory-Defiance gold complex located a few km to the north.
The world-renowned Kambalda Nickel District has produced more than 1.6Mt of nickel metal since and over 15Moz of gold.
IBX – Imagion Biosystems Limited today closed up 35% to finish at 5.4c on $120k stock traded. There was no news out today although yesterday they were handed a speeding ticket after increasing from 2.5c to 5c with no news.
IBX responded that they were unaware of any unknown information, however noted that its share price was down significantly in recent months for no apparent reasons either.
Almost 24 months ago, IBX was trading at $1.40 equivalent due following the completion of a 40 to 1 consolidation in October last year.
SIG – Sigma Healthcare Limited today closed up 23% to finish at $1.765 on $94m stock traded. The reason they were up today was because they announced an update regarding its proposed merger with Chemist Warehouse.
Back in December last year, Sigma announced a proposed merger with Chemist Warehouse, a leading Australian retail pharmacy franchisor, supporting a multi-national Retail Network of ~600 stores.
Sigma is set to acquire all the shares in Chemist Warehouse in exchange for scrip and a $700m cash consideration.
The merger will have a capitalisation of >$8.8 billion and is expected to be eligible to sit well within the S&P/ASX200 following quarterly re-balancing.
TOE – Toro Energy Limited today closed up 21% to finish at 28.5c on $1.6m stock traded. There was no news out today but last week they announced a re-estimation for the Lake Maitland & Wiluna Uranium Projects located in WA.
As a result of a rapidly improving uranium market, TOE has lowered the cut-off grade to 100ppm U3O8 & V2O5 (previously 200ppm) which is aligned with other Wiluna deposits such as Centipede-Millipede & Lake Way.
Lake Maitland’s contained uranium increased by 12% to 33.3Mt @ 403ppm for 29.6Mlbs while Wiluna’s contained uranium increased by 17% to 87.8Mt @ 381ppm for 73.6Mlbs.
5EA – 5E Advanced Materials Limited today closed up 15% to finish at 8.5c on $250k stock traded. The reason they were up today was because they announced a non-binding letter of interest (LOI) was received from the Export-Import Bank of the United States (EXIM) for debt financing of up to $285m.
The debt financing package would be used for the commercial scale development and construction of its Boron Americas Complex located in California, US.
Given the significant demand growth for boron and the associated vulnerabilities of the boron supply chain, the LOI demonstrates a growing awareness and commitment by the U.S. government to securing an integrated boron supply chain.
MM8 – Medallion Metals Limited today closed up 11% to finish at 5.9c on $250k stock traded. There was no news out today but last month they announced drilling had commenced at its flagship Ravensthorpe Gold Project (RGP) located in WA.
MM8 will commence a 15,000m drill program which is comprised of an in-fill component to improve confidence in the high-grade sulphide resource and to collect samples for metallurgical test work.
Additionally, Medallion will test several high priority near mine and regional exploration targets within and around the Kundip Mining Centre (KMC) which forms part of the RGP.
What’s Not
CAN – Cann Group Limited today closed down 17% to finish at 7.9c on $760k stock traded. There was no news out today but yesterday they were handed a speeding ticket after increasing from 4.5c last Thursday to a high of 7.3c yesterday.
CAN responded that they were unaware of any unknown information, however they made mention that the CEO & MD Jenni Pilcher had recently presented at the Pitt St Research Life Sciences Conference.
Cann had also noted that it is contemplating raising further capital via a rights issue although the terms are not yet finalised.
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).