What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – IR1, NAG, MTM, CC9, MM8, AGH, ALA, PNT, WSR & AUN
What’s Not – NMT
What’s Hot
IR1 – Iris Metals Limited today closed up 103% to finish at 36.5c on $840k stock traded. The reason they were up today was because they announced the successful conversion of its spodumene concentrate to 99.5% battery grade lithium carbonate.
The spodumene concentrate was achieved using ore entirely sourced from its Beecher Project located in South Dakota, USA.
The Beecher project is already licensed for production, and ReElement (IR1’s MOU partner) is advancing from demonstration operations at its Indiana customer qualification plant to a commercial-scale critical mineral refining plant.
NAG – Nagambie Resources Limited today closed up 38% to finish at 1.8c on $340k stock traded. The reason they were up today was because they announced drilling would recommence at its Nagambie Mine located in Victoria.
Drilling will target the shallow high-grade gold-antimony orebody which contains a maiden JORC inferred resource of 415Kt @ 3.6 g/t Au & 4.3% Sb for 47.8Koz Au & 17.8Kt Sb.
The maiden JORC resource relates only to the drilling under the West Pit area, the East Pit area and the area to the southwest of the West Pit are structurally anomalous and remain to be drilled.
MTM – MTM Critical Metals Limited today closed up 23% to finish at 8.5c on $1m stock traded. There was no news out today but on Tuesday they announced successful results extracting metals from e-waste using its Flash Joule Heating (FJH) technology.
The FJH successfully recovered tin and palladium from electronic waste which expands on the list of recoverable metals of gold, silver & copper.
This was achieved without the use of toxic acids, recovering approximately 86% of the tin and 82% of palladium content from printed circuit boards (PCBs), a common component of e-waste.
CC9 – Chariot Corporation Limited today closed up 23% to finish at 8.5c on $1m stock traded. There was no news out today but last week they announced a revised strategy for its Black Mountain hard rock lithium project located in Wyoming U.S.
I dare say the IR1 news today certainly helped, plus Wyoming isn’t the worst place in America.
Chariot will now shift from exploring for a large-scale resource to testing the viability of establishing a smaller-scale pilot mine with the goal of supplying spodumene concentrate to several lithium hydroxide refineries under in the south-western states.
MM8 – Medallion Metals Limited today closed up 19% to finish at 8.7c on $220k stock traded. There was no news out today but on Monday they announced drilling had commenced at its Ravensthorpe Gold Project (RGP) located in WA.
The program is comprised of an in-fill component to improve confidence in the high-grade sulphide resource and to collect samples for metallurgical test work.
Additionally, Medallion will test several high priority near mine and regional exploration targets within and around the Kundip Mining Centre (KMC) which forms part of the RGP.
AGH – Althea Group Holdings Limited today closed up 18% to finish at 4.6c on $360k stock traded. There was no news out today but last month ago they announced its subsidiary Peak USA had successfully established an emulsion manufacturing lab in Florida.
While the emulsion acts as a carrying agent, it plays a crucial role in delivering THC, the active ingredient in its US made cannabis beverages.
Initial production is already underway as part of the previously announced JV with Flora Growth Corporation which is preparing to launch its line of cannabis-infused beverages in the coming weeks.
ALA – Arovella Therapeutics Limited today closed up 16% to finish at 18.5c on $1.8m stock traded. There was no news out today but back in August they announced positive feedback had been received from the FDA during a pre-IND meeting in the lead up to its phase 1 study of ALA-101 as a treatment for CD19+ blood cancers.
ALA-101 consists of CAR19-iNKT cells that have been modified to produce a Chimeric Antigen Receptor (CAR) that targets CD19, an antigen found on the surface of numerous cancer types.
The meeting provided a clear path forward to submitting an IND for ALA-101, with no major changes proposed for the development program.
PNT – Panther Metals Limited today closed up 15% to finish at 3c on $320k stock traded. There was no news out today but on Tuesday they announced exploration results from its Comet Well and Comet Well South projects located in WA.
Numerous gold nuggets have been discovered during drill preparations, up to 33.62 grams of alluvial gold has been recovered with the largest nugget weighing 8.5g.
Prospecting activities are ongoing to further assess the abundance of gold within the area where the nuggets were discovered.
WSR – Westar Resources Limited today closed up 11% to finish at 1c on $600k stock traded. There was no news out today but late last month they announced a field program was completed at its Mindoolah Gold Project located in WA.
Open pit and surface mapping carried out over the entire centre with the field team focusing on identifying structural controls on quartz veins which are potential hosts for gold mineralisation.
Samples taken from quartz veins are being finalised with assay results expected in 4-5 weeks, a drill program approval process has also commenced.
AUN – Aurumin Limited today closed up 10% to finish at 5.5c on $150k stock traded. The reason they were up today was because they announced a binding term sheet was executed with Newcam Minerals.
Newcam is a private company which mines, hauls and exports iron ore from Mt Gould through the Geraldton Port and recently purchased the JWD Wiluna assets from CuFe Limited (CUF.asx).
The Central Sandstone Project is located 520km north-east of Perth and is part of Aurumin’s sandstone operations which also includes the Birrigrin and Johnson Range Projects.
What’s Not
NMT – Neometals Limited today closed down 17% to finish at 10c on $500k stock traded. The reason they were down today was because they announced a placement to raise $4m @ 9c through the boys and girls at Euroz Hartleys.
Neometals has also launched a 1 for 12 entitlement offer to raise a further $5m under the same terms.
The funds raised will be used towards its LiB recycling development, lithium & vanadium technology research & development and its Barrambie Gold and Titanium project.
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).