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Wednesday 26 June 2024

What’s Hot – CBY, RCR, CYM, LNR, OPL, AKM & DRE

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

What’s Hot – CBY, RCR, CYM, LNR, OPL, AKM & DRE
What’s Not – BET

What’s Hot
CBY – Canterbury Resources Limited today closed up 41% to finish at 4.5c on $150k stock traded. There was no news out today but last week they released its quarterly which highlighted preparations for a drill program was well advanced at its Bismarck Project located in Papua New Guinea.

Drilling will test high priority targets at Willie Headwaters (porphyry Cu-Au) and Ndokowai (high-grade skarn), the program is expected to commence in May.

Alma Metals (ALM.asx) is also sole-funding an earn-in joint venture agreement for its Briggs Project located in QLD, ALM can earn up to 70% through staged exploration and expenditure totaling $15.25m.

At the Briggs copper deposit an inferred mineral resource estimate (MRE) of 415Mt @ 0.25% Cu and 31ppm Mo has been estimated, plus an exploration target of 480Mt-880Mt at 0.20%-0.30% Cu and 25ppm-40ppm Mo.

RCR – Rincon Resources Limited today closed up yet another 23% to finish at 8.5c on $7.3m stock traded. There was no news out today but last Monday they announced exploration results from its West Arunta Project located in WA.

A ground gravity survey has defined the Avalon bullseye target which forms a 3km east-west elongated gravity anomaly high with a high amplitude of ~5mGal and represents either carbonatite-Nb-REE or IOCG mineral target for drill testing.

CYM – Cyprium Metals Limited today closed up 22% to finish at 3.9c on $580k stock traded. There was no news out today but last month they announced an upgraded mineral resource estimate (MRE) for its Nifty Copper Mine located in WA.

The Nifty measured and indicated MRE has grown to 119mt @ 0.84% pct Cu for 1 million tonnes contained copper.

The global resource figures don’t include previously mined oxide ores in historically mined heap leach workings, previous management established a mineral inventory of 17Mt at an estimated remaining grade of 0.53% copper.

The Cyprium team is reviewing prior and current studies to detail the copper metal available in this potential resource and will inform the market as appropriate.

Copper surged toward US$4.6 per pound and briefly broke the threshold of US$10,000 per tonne for the first time in two years, as growing supply worries and bullish long-term demand spurred a fresh round of speculative buying.

LNR – Lanthanein Resources Limited today closed up 20% to finish at 0.6c on $280k stock traded. The reason they were up today was because they announced exploration results from its Lady Grey Project located in the Forrestania Greenstone Belt of WA.

A recently completed soil sampling program has identified new gold, copper and nickel soil anomalies including a >2km long gold anomaly coincident with structural flexure.

The copper and nickel anomalies are spatially adjacent to each other along with high sulphur which returned a peak value of 5.33% and 50 samples >0.05% which would indicate the presence of weathered sulphides.

Exploration reconnaissance and further geochemical sampling is planned to investigate the potential for magmatic sulphides and the presence of gossanous outcrop or subcrop.

OPL – Opyl Limited today closed up 19% to finish at 1.9c on $110k stock traded. The reason they were up today was because they announced the expansion of its TrialKey coverage.

TrialKey is an AI-based clinical trial predictor with an accuracy rate of +90%, the platform provides users access to tailored, actionable steps to address critical trial challenges, improving the likelihood of success as quickly as possible and at lower costs.

By widening TrialKey’s coverage from 65k to 350k trials, Opyl has significantly bolstered its capacity to offer comprehensive insights into the complexities of clinical research and design.

This broader spectrum of coverage furnishes trial designers and stakeholders with a richer dataset for in-depth analysis and optimisation, thereby advancing the field of clinical research and design.

AKM – Aspire Mining Limited today closed up 15% to finish at 19.5c on $200k stock traded. The reason they were up today was because they announced final government approval had been received for the construction of a public road from its 100% owned Ovoot Coking Coal Project (OCCP) located in Mongolia.

Receipt of this Detailed Environmental Impact Assessment (DEIA) approval enables Aspire to formally commence project financing endeavors.

Road constructed in accordance with public road standards will be less capital intensive and of lower operating cost in comparison to special purpose road designed to support heavy duty trucks.

The trucks that AKM plans to utilise to haul coal from the OCCP will be supplied by top tier original equipment manufacturers and be compliant with modern, international standards meeting or exceeding statutory requirements in Mongolia.

DRE – Dreadnought Resources Limited today closed up 13% to finish at 1.8c on $100k stock traded. The reason they were up today was because they announced a drill program was completed at its Central Yilgarn Project located in WA.

Drilling at each target (Viper, Leghorn, Chicken Little & Honey) intersected the expected mineralisation style and anomalism, assay results are expected in June.

Previous drilling at these targets have returned intersections of up to 15m @ 1.5g/t Au from 12m (Viper) & 48m @ 0.7g/t Au from 27m (Leghorn & Honey).

Drilling at Honey targeted the historical shallow, high-grade gold workings and a coincident gold-in-auger anomaly, Honey is similar to the high-grade Wattle Dam deposit which produced >250koz @ 10.9 g/t Au.

What’s Not

BET – BetMakers Technology Group Limited today closed down 11% to finish at 12.5c on $1m stock traded. The reason they were down today was because they released its quarterly which revealed a 4.1% fall in revenue to $22.3m on the previous corresponding period.

BetMakers has quarterly revenue share agreements with approximately 30 platforms, and Q3 was a challenging period for Australian operators as a result of the competitive landscape coupled with regulatory and taxation headwinds.

Betr’s recently proposed merger with BlueBet Holdings (BBT.asx) will also result in the cessation of its ongoing contract with BetMakers.

BetMakers achieved positive operating cash flow of $1m, although this included $3.75m from Betr so the BBT transaction wasn’t news to their ears.

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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