What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – FL1, ION, SER, SS1, RDN, VTX, M2R, ERW & LTP
What’s Not – MP1
What’s Hot
FL1 – First Lithium Limited today closed up 65% to finish at 15.5c on $200k stock traded. The reason they were up today was because they announced assay results from the Blakala Prospect within its Gouna permit located in Mali.
Drilling was targeting series two holes (under series one holes) at depths of approximately 50m-100m below surface.
Drilling returned high grades covering ~1,200m strike on the main pegmatite body with assays returning up to 41m @ 1.91% Li2O from 81m & 20m @ 2.03% Li2O from 69m.
ION – Iondrive Limited today closed up 44% to finish at 1.3c on $150k stock traded. There was no news out today but last week they announced a collaboration agreement was signed with Production Engineering of E-Mobility Components at RWTH Aachen University (PEM) and PEM Motion GmbH (PEM Motion).
PEM focuses on developing innovative solutions for the production and integration of e-mobility components while PEM Motion is a business consulting and engineering service provider focusing on batteries and electric motors, as well as the industrialisation of mobility products.
The primary objectives of the collaboration agreement are to attract investment to validate the Iondrive DES recycling technology at pilot plant scale and to form a consortium of strategic industry partners to solve a pressing industry need.
SER – Strategic Energy Resources Limited today closed up 24% to finish at 2.6c on $580k stock traded. The reason they were up today was because they announced a gravity survey was completed at its Canobie Project located in northwest QLD.
Canobie is being explored under a farm-in and joint venture with FMG Resources (FMG.asx) targeting iron oxide copper-gold (IOCG) mineralisation west of the Gidyea Suture Zone.
The new gravity data will be reviewed alongside the existing datasets across the project area to refine the exploration model and rank new drill targets in preparation for a future round of drilling.
SS1 – Sun Silver Limited today closed up 23% to finish at 59c on $1.9m stock traded. The reason they were up today was because they announced assay results from its Maverick Springs Silver-Gold Project in Nevada, USA.
Sun Silver’s inaugural drilling campaign is focused north-west of the current mineral resource boundary, the first extensional hole intersected a wide zone of 41.15m @ 126.75g/t AgEq including 13.42m @ 331.76g/t AgEq.
Maverick Springs currently hosts a JORC inferred mineral resource of 125.4Mt @ 43.5g/t Ag & 0.34g/t Au for 175.7Moz Ag & 1.37Moz Au (292Moz of contained AgEq).
RDN – Raiden Resources Limited today closed up 21% to finish at 3.4c on $2.7m stock traded. The reason they were up today was because they announced a heritage survey was completed at its priority copper-nickel-cobalt-PGE targets at the Mt Sholl Project area located in WA.
A preliminary heritage report for this survey is anticipated to be received within one week, drilling will commence once this is received along with a program of work (PoW) approval.
Back in April last year, RDN announced a maiden JORC mineral resource for Mt Sholl of 23.4Mt @ 0.60% NiEq or 1.54% CuEq.
VTX – Vertex Minerals Limited today closed up 21% to finish at 11c on $160k stock traded. There was no news out today but last week they announced a placement to raise $3.8m @ 8c through the boys and girls at CPS Capital who were kind enough to offer us a few.
The funds raised will be used to advance the reward Gold Mine to production and for general working capital.
Last month, VTX announced ore sorting results for the Reward Gold Mine with TOMRA to assess the potential of upgrading the ore prior to further processing through the Hill End Gravity Gold Mill.
M2R – Miramar Resources Limited today closed up 20% to finish at 1.2c on $500k stock traded. There was no news out today but last week they announced drilling had commenced at its Bangemall Project portfolio located in the Gascoyne region of WA.
Drilling is co-funded through the WA government’s exploration incentive scheme (EIS) and will test several airborne ground EM anomalies at Mount Vernon and Trouble Bore.
Miramar is the first explorer to specifically target Norilsk-style mafic intrusion-hosted Ni-Cu-Co-PGE mineralisation within WA’s Capricorn Orogen.
ERW – Errawarra Resources Limited today closed up 18% to finish at 5.9c on $100k stock traded. There was no news out today but late last month they released its quarterly which highlighted the first of two planned heritage surveys were completed at its Andover West project area located in the Pilbara, WA.
The priority areas represent strike extensions to a known Li pegmatite trend and comprise ~2km combined strike of Li fertile pegmatite packages.
ERW is preparing drill plans in anticipation of the completion of the second heritage clearance survey and the receipt of results from the follow-up infill soil sampling program in the Western Pegmatite Swarm area.
LTP – LTR Pharma Limited today closed up 17% to finish at $1.55 on $4.7m stock traded. There was no news out today but last week they announced the first patient had been prescribed SPONTAN under the TGA Authorised Prescriber Scheme (APS).
The APS allows registered medical practitioners to prescribe SPONTAN to a broader class of patients with erectile dysfunction, streamlining access for those who may benefit from this innovative treatment.
Dr Tom Silva, an expert in men’s health, Senior Lecturer in General Practice at the University of Queensland and Director of Kangaroo Point Medical Centre, has begun prescribing SPONTAN for select patients.
What’s Not
MP1 – Megaport Limited today closed down 21% to finish at $9.32 on $107m stock traded. The reason they were down today was because they released its full year report which highlighted a 28% increase in revenue to $195.3m.
Megaport delivered a record EBITDA of $57.1m in line with guidance along with a its first ever net profit after tax for the year of $9.6m in comparison to a $9.8m loss the prior year.
While continuing to grow its global footprint and position as the world’s leading global network as a service provider, Megaport increased in all metrics across all regions in FY24.
MP1 expects FY25 revenue to be in the range of $214m-$222m, with FY25 EBITDA to be between $57m-$65m, so perhaps investors aren’t happy with the growth.
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
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