What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – BPM, MHK, 88E, SNX, RAD, VTM, CHN & SS1
What’s Not – BIS
What’s Hot
BPM – BPM Minerals Limited today closed up 72% to finish at 8.6c on $2.7m stock traded. The reason they were up today was because they announced assay results from its Claw Gold Project located in WA.
Initial AC drilling at the Louie Prospect has returned intercepts of up to 30m @ 1.84g/t Au from 25m including 5m @ 7.12 g/t Au from 35m.
Additional infill AC drilling that is currently underway will further define the high-grade core in preparation for deeper RC drill testing later in the year.
MHK – Metal Hawk Limited today closed up 56% to finish at 14c on $110k stock traded. The reason they were up today was because they announced exploration results from its Leinster South project located in WA.
A high-resolution UAV (drone) magnetic survey has been completed over the majority of the Leinster South tenement including the Siberian Tiger gold prospect.
The Siberian Tiger prospect is located along the eastern limb of the Lawlers Anticline and only 15km from the Lawlers mining centre, past production from the Agnew-Lawlers deposits is >5Moz @ 5gt Au.
88E – 88 Energy Limited today closed up 33% to finish at 0.2c on $400k stock traded. The reason they were up today was because they announced an update for its 74.3% owned Phoenix Project located in Alaska.
Back in February, 88E drill tested the Hickory-1 discovery (within Pheonix) which focused on the two shallower primary targets, the Upper SFS (USFS) reservoir, previously untested, and the SMD-B reservoir.
88E has reported an independently certified contingent resource estimate of gross 128MMbbl (million barrels of oil) hydrocarbon liquids and 68BCF (billion cubic feet) of gross recoverable gas.
SNX – Sierra Nevada Gold Limited today closed up 25% to finish at 0.5c on $450k stock traded. The reason they were up today was because they announced exploration results from its Blackhawk Project located in Nevada, US.
Initial sampling completed from the Crystal Peak prospect returned 1,880g/t Ag from a quartz stockwork zone and 31.2g/t Au from the G Mine area associated with copper up to 4.94%.
Given the nature of the observed covering deposits, it is highly likely that more detailed mapping will delineate further areas of interest.
RAD – Radiopharm Theranostics Limited today closed up 17% to finish at 3.5c on $270k stock traded. There was no news out today but late last month they announced it increased its ownership stake in Radiopharm Ventures from 51% to 75%.
Radiopharm Ventures is a joint venture which was created with The University of Texas MD Anderson Cancer Center back in Q3 2022.
The increased ownership percentage comes as the joint venture continues to show promising progress in its cancer therapeutic pipeline, including the advancement of its leading B7H3 candidate and other preclinical assets.
The joint venture leverages MD Anderson’s expertise in antigen discovery and molecular imaging alongside Radiopharm’s capabilities in developing radiopharmaceutical therapies.
VTM – Victory Metals Limited today closed up 15% to finish at 50c on $240k stock traded. There was no news out today but roughly a fortnight ago they announced drilling had recommenced at its Stanmore Heavy Rare Earth Elements Project located in WA.
The approximate 5,000m AC drilling program is designed to significantly expand the existing MRE, which is already recognised as one of Australia’s largest clay-hosted HREE deposits.
Stanmore currently contains a MRE of 235Mt @ 520ppm total rare earth oxides (TREO) for 79.2Kt contained TREO & 28Kt contained HREO.
The focus areas of this program are immediately adjacent to the existing North Stanmore MRE, which remains open in all directions.
CHN – Chalice Mining Limited today closed up 15% to finish at $1.455 on $16m stock traded. There was no news out today but yesterday they announced the grant of strategic project status for its Gonneville PGE-Ni-Cu-Co Project located in WA.
The status provides formal recognition of the strategic value of the project and provides a high level of project facilitation including for regulatory approvals and infrastructure requirements.
Gonneville has the potential to produce a rare mix of critical and strategic minerals required for decarbonisation and urbanisation, such as nickel, copper, cobalt, palladium and platinum.
SS1 – Sun Silver Limited today closed up 10% to finish at 79.5c on $2m stock traded. The reason they were up today was because they announced a placement to raise $13m through the boys and girls at Canaccord Genuity.
The capital raise consisted of a $8m placement @ 62c along with a $5m cornerstone investment from Nokomis Capital @ 80c which represents a 10.3% premium to the last closing price of 72.5c.
Nokomis Capital is a distinguished US-based investment firm recognised for its long-term strategic approach and strong track record in high-growth sectors.
The proceeds will be used to accelerate the development of its flagship Maverick Springs Silver Gold Project located in Nevada, US.
What’s Not
BIS – Bisalloy Steel Group Limited today closed down 14% to finish at $3.44 on $2m stock traded. There was no news out today but late last month they released its full year results which revealed a 0.2% fall in revenue to $152.8m.
Despite the fall in revenue, BIS’s net profit after tax increased by 20% to $16.2m while operating EBITDA increased by 16.1% to $26.7m.
Bisalloy’s sales tonnes were impacted in FY24 in Australia by protracted EBA (enterprise bargaining agreement) negotiations in H1 and in Indonesia by import restrictions in place for much of the year, which have now been lifted.
The FY25 outlook remains uncertain for BIS with significant geo-political risks and a further slowdown driven by Chinese domestic demand posing a significant threat to global steel prices and therefore margins.
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).