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Thursday 25 July 2024

What’s Hot – MRQ, CE1, LBT, PNM, CC9 & BUB

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

What’s Hot – MRQ, CE1, LBT, PNM, CC9 & BUB
What’s Not – AVG & LTP

CE1 – Calima Energy Limited today closed up 67% to finish at 0.6c on $530k stock traded. The reason they were up today was because they went ex-dividend after distributing $80m to shareholders.

Calima returned 12.64c per share as a result of the sale of Blackspur Oil Corp to Astara Energy Corp (previously trading at 13c).

Post distribution, Calima will have ~A$5-6m cash and a 100% interest in the Paradise Field in British Columbia which generates approximately A$350k in free cash flow annually.

Calima today opened up at 0.5c which gave it a market cap of $3.1m, well below its current cash reserves.

LBT – LBT Innovations Limited today closed up 54% to finish at 2c on $110k stock traded. There was no news out today but not long before open they were placed in a temporary pause in trading.

During lunchtime today, the pause in trading was lifted with no explanation as to why they were paused to begin with.

PNM – Pacific Nickel Mines Limited today closed up 39% to finish at 3.9c on $100k stock traded. The reason they were up today was because they announced a significant milestone was achieved for its Kolosori Nickel Project located in the Solomon Islands.

Kolosori is now achieving a throughput of two ships per month, with ramp-up to full production of 1.5Mtpa nearing completion, equivalent to three ships per month during the dry season.

PNM has coordinated the next shipment with Glencore which is expected to arrive on the 16th of June, PNM currently has a US$22m secure loan facility with Glencore.

CC9 – Chariot Corporation Limited today closed up 32% to finish at 22.5c on $110k stock traded. There was no news out today but last month they announced drilling results from its Black Mountain Project located in Wyoming, U.S.

The phase 1 drilling program was designed to determine the widths and grade of outcropping pegmatite dikes in the central portion of the Black Mountain.

The first three holes tested the outcropping pegmatites and returned high grade intercepts of 0.8% to 1.12% Li2O over intervals of 14m+.

BUB – Bubs Australia Limited today closed up 17% to finish at 14c on $1.9m stock traded. The reason they were up today was because they announced a trading update which highlighted an increase in revenue.

USA weekly scan revenue has exceeded US$1m per week in comparison to US$750k in Q3, with over 24,000 tins sold.

Bubs is now the number 1 best-selling infant formula product on Amazon USA, back in February they were the 6th best seller.

Bubs products are also widely sold in major supermarkets and pharmacies throughout Australia, as well as exported to ten markets across China, Southeast Asia and the Middle East.

What’s Not
AVG – Australian Vintage Limited today closed down 39% to finish at 19c on $1.8m stock traded. The reason they were down today was because they announced the completion of a placement and entitlement offer to raise $15m @ 20c.

The funds raised will be used to enhance levels of liquidity and financial flexibility and better position AVG to capitalise on future growth opportunities.

AVG was placed into suspension back in mid-May pending an announcement regarding a trading update.

AVG then announced FY24 sales was expected to be in the range of $257m–261m, in line with FY23 in a challenging market but lower than internal expectations.

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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