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Wednesday 26 June 2024

What’s Hot – DCG, DAL, WMG, LYN, LPE & RCE

What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – DCG, DAL, WMG, LYN, LPE & RCE
What’s Not – ADR
What’s hot
DCG
 – Decmil Group Limited today closed up 65% to finish at 28c on $3.3m stock traded. The reason they were up today was because they announced Macmahon Holdings (MAH.asx) had proposed to acquire them for 30c in cash.

Macmahon ($506m market cap) is an ASX listed company offering the complete package of mining services to miners throughout Australia and Southeast Asia.

Macmahon intends to operate Decmil as a wholly owned subsidiary of Macmahon and to maintain Decmil’s own branding, with the existing Macmahon civil business to merge under this umbrella.

The Board of DCG recommends that shareholders vote in favour of the 76.5% premium to the last closing price of 17c.

DAL – Dalaroo Metals Limited today closed up 50% to finish at 2.4c on $920k stock traded. The reason they were up today was because they announced exploration results from the Goodbody West gold prospect within the Lyons River Project located in WA.

Assays from maiden air-core drill program testing outlined gold mineralisation over a strike length of at least 200m with highlights of 5m @ 0.85g/t Au from 9m.

Mineralisation remains open at depth and to the east and requires deeper drilling to assess the potential for structurally controlled high-grade zones.

A new gold prospect has also been defined at Turbo Well with gold-in-soil anomalism extending over a strike length of 2km.

There was some crazy trading this morning with the stock opening up 156% at 4.1c before increasing by as much as 180% when reaching today’s intraday high of 4.5c.

Those who bought at the top would be looking at a 46% loss, if of course they are still holding the day trade nightmare they buying on the open turned out to be.

WMG – Western Mines Group Limited today closed up 45% to finish at 32c on $340k stock traded. The reason they were up today was because they announced assay results from its Mulga Tank Project located in WA.

The assay results for all three holes highlight broad intersections of nickel sulphide mineralisation with intersections up to 184m @ 0.27% Ni, 126ppm Co, 82ppm Cu, 18ppb Pt+Pd.

A number of holes across both the Phase 1 & Phase 2 RC and diamond drilling programs have returned higher grade assay results between 1% to 4.5% Ni.

Assay results have now been received for 13 of the 17 initial holes in the Phase 2 RC program, the remaining 4 holes are expected in 3-4 weeks.

The turnaround time on these holes is quite impressive, no doubt the boss and old mate Caedmon will be pretty keen to see the next set of results after today’s action.

 

LYN – Lycaon Resources Limited today closed up 41% to finish at 29c on $480k stock traded. The reason they were up today was because they announced land access was approved for its Stansmore Niobium-REE Project located in the West Arunta region of WA.

The Stansmore carbonatite target consists of a regionally prominent 700m long magnetic feature analogous to WA1’s discoveries and Encounter’s (ENR.asx) Worsley prospect.

Previous shallow aircore drilling by BHP Minerals in 1982 recorded shallow cover of approximately ~5-10m depth.

Southern Geoscience Consultants (SGC) re-processed magnetic data over the Stansmore Carbonatite Project which highlighted multiple new targets identified prospective for Niobium-REE mineralisation.

LPE – Locality Planning Energy Holdings Limited today closed up 41% to finish at 7.6c on $230k stock traded. The reason they were up today was because they announced the receipt of a proposal to be acquired by River Capital for 8c in cash.

River Capital is a Melbourne based investment firm, it was established in 1996 to manage a portfolio of assets in both public and private markets with the aim of investing in businesses with a disciplined and long term view.

River Capital currently holds a 19.75% interest in the company (35.5m shares), although the offer is subject to a 90% minimum acceptance.

River Capital first bought stock back on the 29th of March when they did a 32.6m crossing at 8c, the stock was trading at 3.4c at the time.

The Board of LPE has recommended that shareholders should take no action until the directors have had an opportunity to look closely at the offer document and make a recommendation.

What’s not

ADR – Adherium Limited today closed down 16% to finish at 3.2c on $600k stock traded. There was no news out today but yesterday they announced its Hailie Smartinhaler solution had received clearance from the FDA for use with AstraZeneca’s Airsupra and Breztri inhalation devices.

Airsupra is the first FDA approved rescue medication for asthma patients and Breztri is a triple combination for COPD patients.

The option to combine Hailie Smartinhaler with these medications empowers patients and clinicians with real-time data and insights into their medication usage patterns and inhaler technique feedback, fostering better adherence and enabling tailored treatment regimens.

Yesterday was a wild day for ADR shareholders, the stock opened up 25% at 5c before increasing by more than 130% to reach 9.3c, this was followed by a painful sell off which actually saw the share price close down for the day.

ADR is now trading 20% down from when they released yesterday’s news, no doubt due to a high amount of day traders who were getting sucked out on that river.

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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