What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – AUC, SVY, COD, IVR, SGR, GTK, SS1, BMO & MMA
What’s Not – MHJ
What’s Hot
AUC – Ausgold Limited today closed up 50% to finish at 3.9c on $2m stock traded. The reason they were up today was because they announced several board changes.
This includes the appointment of experienced international finance and resources executive John Dorward as its Executive Chairman.
Mr Dorward was the President, CEO and Director of Toronto-headquartered Roxgold Inc, which was acquired in 2021 by Fortuna Silver Mines Inc in an all-scrip deal valued at US$884m.
SVY – Stavey Minerals Limited today closed up 49% to finish at 4.9c on $440k stock traded. There was no news out today but last week they announced results from the re-interpretation of historic and more recent drilling at the Junction Prospect within its Stavely Copper-Gold Project in Western Victoria.
The Junction prospect is located approximately 2km south of the Cayley Lode Deposit, which hosts a Mineral Resource Estimate (MRE) of 9.3Mt @ 1.23% copper, 0.23g/t gold and 7g/t silver.
Re-interpretation has identified an immediate shallow discovery opportunity with historical intercepts of up to 35m @ 3.44% Cu & 26g/t Ag from 24m to end-of-hole (EoH).
COD – Coda Minerals Limited today closed up 31% to finish at 17c on $250k stock traded. There was no news out today but late last month they released its quarterly report which highlighted updates made to the copper-cobalt scoping study at its Elizabeth Creek Project located in South Australia.
Further material improvements were made to forecasted project economics achieved from the application of a successful pillar recovery strategy and mine plan optimisation.
A study into the recovery of a higher percentage of support pillars at the Emmie Bluff underground mine has been completed, indicating the scope to expand resource extraction from 77% to 89% of any given super panel.
IVR – Investigator Resources Limited today closed up 23% to finish at 6.4c on $1.6m stock traded. There was no news out today but late last month they announced a strategic alliance was entered with Golding Contractors.
Golding Contractors is a contractor with significant experience of delivering safe, flexible and cost-effective project solutions across civil infrastructure, urban and mining services.
The alliance was made to develop the mine design, schedules and cost inputs for the mining of the Paris Silver Project.
SGR – The Star Entertainment Group Limited today closed up 20% to finish at 54c on $61.3m stock traded. The reason they were up today was because they announced a response to media speculation.
The response was in relation to an Australian Financial Review article released last night titled ‘Hard Rock Cafe pitches Star rescue plan’.
The Star confirmed that it has not received a proposal directly from Hard Rock Hotels and Casinos (Hard Rock).
GTK – Gentrack Group Limited today closed up 19% to finish at $8.60 on $3.9m stock traded. The reason they were up today was because they announced its half yearly results which highlighted a 21% increase in revenue to $102m.
Growth has been driven by recent and in-year new customers as well as upsells and upgrades for existing customers.
Major projects starting during the period including in Saudi Arabia (a new customer secured in October last year) and at Genesis Energy in NZ helped drive their non-recurring revenues 85% higher to $28.9m.
SS1 – Sun Silver Limited today closed up yet another 15% to finish at 71.5c on $7.4m stock traded. There was no news out today but last Tuesday they listed after raising $13m @ 20c through the boys and girls at Wagtail Capital.
Sun Silver’s flagship Maverick Springs Silver-Gold Project is located in Nevada and hosts a JORC compliant Mineral Resource of 292Moz AgEq (silver equivalent) @ 72.4g/t.
The deposit itself remains open along strike and at depth, with multiple mineralised intercepts located outside of the current resource constrained model.
BMO – Bastion Minerals Limited today closed up 14% to finish at 0.8c on $900k stock traded. The reason they were up today was because they announced exploration results from its Morrissey Project located in the Gascoyne region of WA.
Initial mapping and sampling have identified potential for economic surficial uranium, hosted at shallow depth in calcrete.
Widespread visible uranium oxide was observed, BMO identified 32 high grade samples with spectrometer readings (for radiation detection) exceeding 1,000cps Tc (Total Count), with one high reading of 9,405 cps Tc.
MMA – Maronan Metals Limited today closed up 13% to finish at 31.5c on $300k stock traded. There was no news out today but last week they announced a placement to raise $5.65m @ 24c through the boys and girls at Veritas Securities.
Maronan will be well funded to continue resource growth and development activities at its Maronan Silver-Lead and Copper-Gold deposit, including drilling and completion of the Starter Zone Scoping Study.
The Maronan Project is one of Australia’s largest and highest-grade, undeveloped silver resources located just 90km north of the giant Cannington Silver-Lead-Zinc Mine.
What’s Not
MHJ – Michael Hill International Limited today closed down 21% to finish at 48c on $1m stock traded. The reason they were down today was because they announced a trading update last Friday after market which revealed a 10.3% fall in revenue for its NZ segment.
The old after market release rarely is missed in this day & age of social media – back in the day it sometimes worked but not for many years now.
The New Zealand segment remains their most challenged with deeper macroeconomic pressures significantly impacting consumer behaviour and discretionary spend.
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).