What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – GED, MRR, BIO, M2R, LIN, CTT & WTM
What’s Not – MCM
What’s Hot
GED – Golden Deeps Limited today closed up 164% to finish at 7.4c on $10m stock traded. The reason they were up today was because they announced XRF drilling results from its Havilah Project located in the Lachlan Fold Belt, NSW.
Drilling intersected patches of semi-massive copper (chalcopyrite) and zinc (sphalerite) sulphides as well as vein and disseminated sulphides across an 80m zone in the targeted Sofala Volcanics.
Hand-held pXRF readings from the most intensely mineralised zone in HVD003 from 85m to 113m (28m) ranged up to 18.5% Cu (over a 0.2m interval) and 34.8% Zn and averaged 0.5% Cu and 0.7% Zn.
MRR – Minrex Resources Limited today closed up 17% to finish at 1c on $210k stock traded. The reason they were up today was because announced an exploration update from its Mt Pleasant Project located in the Lachlan Fold Belt of NSW.
14 new targets were generated based on geological setting, structural setting, geophysical anomalism, geochemical anomalism and proximity to known historic workings.
Three high priority targets all occur on the same trend as the Mt Pleasant Mo-W deposit and the Glasscock polymetallic prospect.
Soil sampling is being planned over the 6 high priority targets along with induced polarisation geophysical surveys.
BIO – Biome Australia Limited today closed up 14% to finish at 72c on $2.4m stock traded. There was no news out today but yesterday they released its FY25 revenue guidance.
After a strong start to the September quarter, Q1 sales revenue is expected to surpass $4m in comparison to $3.8m the previous quarter.
Earlier this month, BIO launched its new cholesterol lowering probiotic, Biome Cholesterol Probiotic, in both pharmacy and practitioner channels.
M2R – Miramar Resources Limited today closed up 14% to finish at 1.6c on $370 stock traded. There was no news out today but last week they announced the grant of the Chain Pool tenement located in the Gascoyne region of WA.
An initial reconnaissance fieldtrip to the Joy Helen prospect within the tenement returned high-grade rock chip results of up to 5.49% Cu, 42.0% Pb & 73.48g/t Ag.
Combined with historic sampling, the high-grade copper, lead and silver mineralisation at Joy Helen has been seen over approximately 700m of strike.
LIN – Lindian Resources Limited today closed up 14% to finish at 12.5c on $300k stock traded. There was no news out today but back in late July they released its quarterly report which highlighted the completion of a feasibility study for its Kangankunde Rare Earths Project located in Malawi.
The feasibility study for a stage 1 development confirmed an economically robust project with a net present value (NPV) of US$555m (A$831m) and an internal rate of return of 80%.
The pre-production capital cost is US$40m (A$60m) which includes a 12.5% contingency, making it one of the lowest capital cost rare earths projects under development.
CTT – Cettire Limited today closed up another 10% to finish at $1.54 on $25m stock traded. There was no news out today but last week they released its preliminary full year results which revealed a 34% decline in net profit after tax (NPAT) to $10.47m.
Notwithstanding the impact of increased growth investment, Cettire achieved full year adjusted EBITDA growth of 11% to $32.5 million and increased its delivered margin by 62% to $155m.
Since the start of FY25, the global luxury sector has continued to experience softer trading conditions.
WTM – Waratah Minerals Limited today closed up 10% to finish at 41.5c on $930k stock traded. There was no news out today but earlier this month they announced assay results from its Spur Project located in the Lachlan Fold Belt, NSW.
Results received from a further six holes intersected up to 89m @ 1.73g/t Au, 0.08% Cu from 115m including 57m @ 2.50g/t Au, 0.11% Cu from 115m.
The maiden RC drilling program at Spur was designed to test extensions of shallow epithermal gold mineralisation and investigate a potential link with an alkalic porphyry gold-copper system down plunge.
What’s Not
MCM – MC Mining Limited today closed down 13% to finish at 20.5c on $170k stock traded. There was no news out today but last week they announced an agreement was reached with Kinetic Development Group (KDG), which you would have read about in here last week.
KDG has proposed to acquire a 51% interest in MCM for US$90m by initially subscribing for 13.04% for US$12.9m at an implied price of 30.83c followed by a second tranche of US$77m.
KDG is an integrated coal mining and trading group incorporated in the Cayman Islands with extensive operational experience and expertise.
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).