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Thursday 25 July 2024

What’s Hot – MOM, KLI, PVL, SLM, QHL & FBR

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

What’s Hot – MOM, KLI, PVL, SLM, QHL & FBR
What’s Not – MEI

What’s Hot
MOM – Moab Minerals Limited today closed up 100% to finish at 0.6c on $69k stock traded. The reason they were up today was because they announced the completion of an acquisition of an 89.6% interest in Linx Resources.

Linx is the 80% owner of certain prospecting licenses comprising the Manyoni Uranium Project and the Octavo Uranium Project, both located in Tanzania.

In the Manyoni area the uranium is deposited in a shallow playa lake system as schröckingerite (in the lake sediments) and carnotite in the granitic saprolite below the lake sediments.

KLI – Killi Resources Limited today closed up 84% to finish at 7.9c on $4m stock traded. The reason they were up today was because they announced exploration results from the Kaa target within its Mt Rawdon West Project located in QLD.

Rock chip assay results have indicated a new epithermal gold system at Kaa target exposed at surface with assays of up to up to 238g/t Au, 2.1% Cu & 513g/t Ag along a 1.8km long trend.

Additional old workings, veins and gossan structures were located along the 1.8km trend and returned on average 5-6g/t Au, 1-2% Cu &100g/t Ag.

PVL – Powerhouse Ventures Limited today closed up 37% to finish at 5.2c on $140k stock traded. The reason they were up today was because they announced they formed a syndicate of investors to establish and co-sponsor a new natural capital platform in the Australian carbon market.

The initial strategic investors in this endeavour are a boutique natural capital investment and advisory firm, and a globally experienced, Singapore-based commodities trading house.

PVL has executed binding documentation for a $500k investment in Australian Carbon Credit Investments (New Carbon Co).

SLM – Solis Minerals Limited today closed up 24% to finish at 11c on $200k stock traded. The reason they were up today was because they announced exploration results from its Cinto Project located in Peru.

Initial mapping programs have identified a zone within and bordering the Incapuquio Fault system that shows the presence of abundant copper oxides with artisanal workings.

Several assays returned copper values greater than 1% and one high grade sample returned up to 7.14% Cu in a highly mineralised oxide zone.

QHL – Quickstep Holdings Limited today closed up 22% to finish at 27.5c on $220k stock traded. There was no news out today but last month they announced an update on ongoing major customer contract renewals and forecast demand.

Quickstep is the largest independent aerospace composite business in Australia and employs more than 280 people.

Quickstep continues to be actively engaged with all major customers and partners to identify new opportunities in traditional program component supply and new and emerging sectors.

FBR – FBR Limited today closed up another 15% to finish at 4.7c on $2.1m stock traded. There was no news out today but yesterday they announced its first next-generation Hadrian X construction robot has arrived in the US.

The next-generation Hadrian X unit will undertake site acceptance testing at the facility, consisting of a test build outdoors, plus the inclusion of some bond beam blocks.

This will be followed by an inspection from an independent structural engineer to confirm that the constructed walls of the test build are consistent with the design and meet applicable building standards.

Completion of the site acceptance testing will trigger a US$600k payment by CRH Ventures and will trigger the commencement of the demonstration program.

What’s Not
MEI – Meteoric Resources Limited today closed down 16% to finish at 13c on $5.2m stock traded. There was no news out today but yesterday they announced scoping study results from its Caldeira Rare Earth Ionic Clay Project located in the state of Minas Gerais, Brazil.

The study was based on an annualised production of 11Kt TREO over the first five years with LOM average production of 9.1Kt TREO comprised of 31% NdPr & 1% DyTb.

The capital expenditure for the construction of the initial processing facilities and mining fleet is US$297m excluding contingency of 35%, MEI has stated that US$400m would likely be required.

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).

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