Wednesday 26 June 2024

What’s Hot – FRS, FAL, VN8, LTP, MQR & LMS

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

What’s Hot – FRS, FAL, VN8, LTP, MQR & LMS
What’s Not – BOE

What’s Hot
FRS – Forrestania Resources Limited today closed up 140% to finish at 4.6c on $6.4m stock traded. The reason they were up today was because they announced an option was signed to acquire highly prospective iron tenements located in the Yilgarn region of WA.

The tenements include one exploration licence and the holder of the rights to explore and mine iron ore on two other granted contiguous exploration licences.

The Koolyanobbing Fe Project (KFP) represents significant potential due to its proximity to Mineral Resources Limited’s (MIN.asx $14.6b market cap) Koolyanobbing Operations.

FAL – Falcon Metals Limited today closed up 50% to finish at 24c on $920k stock traded. The reason they were up today was because they announced assay results from its Farrelly Mineral Sands Prospect located in Victoria.

High grade mineral sands were intersected and remains open in several directions with intersections of up to 26m @ 8.9% total heavy minerals (THM) from 6m including 15m @ 12.9% THM from 13m.

Drilling has identified a thick zone of mineralisation now defined covering an area of approximately 1,200m by 600m and remaining open in several directions, additional high-grade zones have also been identified up to 5km to the north of the Main Zone.

VN8 – Vonex Limited today closed up 41% to finish at 22.5c on $140k stock traded. There was no news out today but late last month they released its quarterly which highlighted its continued focus on ensuring systems and operations delivered value for their customers.

The Vonex NBN network insource project hit a major milestone in the last quarter with a large portion of customers transitioning to their own network.

Further migration activity will occur over the coming month which will drive down cost and place direct control into their hands, which is already benefiting their customers.

LTP – LTR Pharma Limited today closed up 20% to finish at 57.5c on $560k stock traded. There was no news out today but late last month they released its quarterly which highlighted that its pivotal clinical study of SPONTAN was fully recruited, and dosing of all participants had been completed.
The study has entered the data evaluation phase with results anticipated in mid-2024, this study represents a critical milestone for LTP as it is designed to show that SPONTAN can disrupt the global PDE5 (Viagra, etc.) marketplace.

The study results are anticipated in mid-2024, the final data is also expected to support the early access scheme in Australia and aid in pre-submission meetings with the FDA and TGA respectively.

MQR – Marquee Resources Limited today closed up 15% to finish at 1.5c on $190k stock traded. The reason they were up today was because they announced an option agreement was entered with two parties to acquire the Sa Pedra Bianca Project located in Italy.

Sa Pedra Bianca is an advanced high-grade gold and silver project which contains a non-JORC resource of 1.65Mt @ 7.06 g/t Au and 29.7 g/t Ag for a total of 376,140oz gold and 1.58Moz silver.

Sa Pedra Bianca is a low sulphidation epithermal gold and silver vein field with over 50km of mapping completed over 22 vein sets, of which only seven have been drill tested and a number of the veins have received only limited exploration evaluation.

LMS – Litchfield Minerals Limited today closed up 13% to finish at 22.5c on $330k stock traded. There was no news out today but earlier this month they announced drilling had commenced at the Silver King Prospect within its Mount Doreen tenement located in the NT.

The drilling will focus on the copper, gold-silver-lead-zinc deposits within the Lander Rock Formation.

The holes have been designed mainly to test the higher order chargeability anomaly, better define the style and controls on mineralisation and confirm several historical high-grade Cu, Pb, Ag intercepts.

What’s Not
BOE – Boss Energy Limited today closed down 11% to finish at $4.76 on $77m stock traded. The reason they were down today was because they released a change of directors’ interest which revealed MD & CEO Duncan Craib, Chairman Wyatt Buck and Director Bryn Jones have sold a portion of their respective shareholdings on market.

Several years ago, the Board of Directors made personal commitments not to sell any shares until its 100% owned Honeymoon uranium mine commenced production.

Back in April, BOE announced it had produced the first drum of uranium, becoming Australia’s newest uranium producer in the past 10 years, where production is forecast to ramp up to 2.45Mlbs a year.

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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