What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – LVH, AQC, APX, WTM, PCL, ION, NOX & LRS
What’s Not – AUK
What’s Hot
LVH – LiveHire Limited today closed up 88% to finish at 4.5c on $3.8m stock traded. The reason they were up today was because they announced they received a proposal to be acquired on-market by Humanforce Holdings for 4.5c in cash.
Humanforce is an Australian proprietary company which operates a SaaS platform providing workforce management solutions.
LiveHire’s Board unanimously recommends that shareholders accept the 87.5% premium to the last closing price of 2.4c.
AQC – Australian Pacific Coal Limited today closed up 29% to finish at 15.5c on $670k stock traded. There was no news out today but late last month they released its quarterly which highlighted the ongoing progress at its Dartbrook Coal Mine located in NSW.
Underground restoration works on the Hunter Tunnel are on schedule with completion expected in August while above ground restoration works are making good progress.
AQC and its partners are working with various consultants to analyse options to optimise the Dartbrook Mine Plan and accelerate the restart work program and ramp-up period within forecast expenditure limits.
APX – Appen Limited today closed up 24% to finish at 94.5c on $20m stock traded. There was no news out today but late last month they released its quarterly report which highlighted an underlying EBITDA of $600k in comparison to a $7.2m loss on the previous corresponding period (pcp).
Revenue had fallen 16% to $55m on the pcp which was mainly driven by the loss of its biggest customer Google which made up $18.3m in revenue.
Appen’s target remains to reach cash EBITDA positive on a run-rate basis in early H2 2024.
WTM – Waratah Minerals Limited today closed up another 23% to finish at 40.5c on $1.6m stock traded. The reason they were up today was because they released a change in substantial shareholding.
Farjoy Pty Ltd has purchased 4.9m shares to increase its shareholding from 5.08% to 7.49%, 931k of the shares were purchased in the last placement while 4m were purchased on market.
Farjoy is the Robertson family investment fund, that clan includes legendary lawyer Geoffrey who may or may not even read this tonight (like your style Farjoy).
PCL – Pancontinental Energy Limited today closed up 20% to finish at 1.8c on $820k stock traded. There was no news out today but late last month they released its quarterly report which highlighted the continued analysis of the 6,593 km2 3D pre-stack depth migration (PSDM) seismic dataset at its PEL 87 Project located offshore Namibia.
Seismic bright amplitudes and Amplitude vs Offset (AVO) anomalies are evident within a number of exploration leads across the play types, including discrete leads that have been identified within the Saturn complex (intra-Saturn).
Saturn is at the same geological level, and is similar in other ways, and currently mapped as larger in area than Total’s major Venus oil discovery (Africa’s largest ever Sub-Saharan oil find) further south of PEL 87.
ION – Iondrive Limited today closed up 11% to finish at 1c on $120k stock traded. There was no news out today but on Monday 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.
NOX – Noxopharm Limited today closed up 11% to finish at 9.3c on $690k stock traded. The reason they were up today was because they announced encouraging new data regarding its CRO-67 preclinical drug for pancreatic cancer.
CRO-67 acts as a novel dual-cell therapy, destroying both tumour and barrier cells, the study found CRO-67 significantly reduced pancreatic tumours and barrier cells in a complex model.
The new results arise from a highly sophisticated study that tested CRO-67 in a complex model, in which human pancreatic cancer cells as well as barrier cells were transplanted into the pancreas of mice.
LRS – Latin Resources Limited today closed up 10% to finish at 12c on $2.5m stock traded. There was no news out today but late last month they announced assay results from the Planalto Prospect located along strike from its Colina Deposit located in Brazil.
Assays confirmed the presence of a thick high-grade core of mineralisation with intersections of up to 16.05m @ 2.18% Li2O from 293.29m including 9.22m @ 2.54% Li2O from 293.29m.
Further drilling will focus on extending this high-grade zone up-plunge to the southwest where the mineralisation is interpreted to extend nearer to the surface.
What’s Not
AUK – Aumake Limited today closed down 11% to finish at 0.8c on $400k stock traded. The reason they were down today was because they announced a placement to raise $2.8m @ 0.5c to a strategic consortium through the boys and girls at Novus Capital.
AUK has also reached an agreement to convert $1m of its existing debt facility into equity on the same terms as the strategic placement.
The strategic consortium will help leverage extensive Asian networks and sales channels to assist Aumake in streamlining costs as it strives towards financial profitability in FY25.
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).