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Friday 21 June 2024

What’s Hot – MTH, CHR, GIB, LTP, KRM, SUM, HOR, ADO & VTM

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

What’s Hot – MTH, CHR, GIB, LTP, KRM, SUM, HOR, ADO & VTM
What’s Not – ING

What’s Hot
MTH – Mithril Resources Limited today closed up 43% to finish at 28.5c on $3.3m stock traded. The reason they were up today was because they re-listed after being suspended since November last year.

Back in May last year, Mithril announced the execution of a binding scheme implementation deed (SID) with TSX Venture Exchange (TSXV) listed Newrange to be acquired in scrip.

Months later the SID fell through and as a result Mithril was placed in a trading halt, before being placed in suspension due to a strategic review including all options regarding recapitalisation.

CHR – Charger Metals Limited today closed up 41% to finish at 10c on $1.4m stock traded. The reason they were up today was because they announced exploration results from the Mt Gordon Prospect within its Lake Johnston Project located in WA.

An infill soil sampling program has further delineated surface lithium anomalies at Lake Johnston including anomalies not previously identified.

Large soil anomalies (>100ppm Li2O) extend for over 3km and lies adjacent to the Jaegermeister Lithium Prospect delineated by TG Metals Ltd (TG6.asx).

GIB – Gibb River Diamonds Limited today closed up 32% to finish at 4.9c on $330k stock traded. There was no news out today but yesterday they announced the grant of three key licenses at its Ellendale Diamond Project located in WA.

The grant of these three mining leases is an important milestone in re-establishing diamond production at Ellendale.

A heritage survey is also scheduled to be conducted in the first week of June, the Survey will be conducted under the protocols established in the recently signed Mining Benefits Agreement.

LTP – LTR Pharma Limited today closed up 28% to finish at 50c on $530k stock traded. There was no news out today but late last month they released its quarterly which highlighted that its pivotal clinical study of SPONTAN was fully recruited, and dosing of all participants had been completed.

KRM – Kingrose Mining Limited today closed up 21% to finish at 5.7c on $2m stock traded. The reason they were up today was because they announced an exploration alliance agreement was entered with BHP.

The Alliances will be carried out over three stages and span agreed areas of interest in Norway and Finland, exploring for nickel and copper.

BHP will sole fund up to US$20m (A$31m) in regional generative exploration over up to 4 years across belt scale areas of interest in Norway and Finland for the exclusive right to select targets to become defined projects.

BHP may earn up to 75% in two stages by sole funding a further up to US$36m (A$56m) over 7 years from commencement of the phase 1, this is then followed by a joint venture phase where both parties fund JV activities on pro-rata basis.

SUM – Summit Minerals Limited today closed up another 16% to finish at 21.5c on $2.4m stock traded. There was no news out today but roughly a fortnight ago they announced exploration results from its recently acquired Equador Nb-REE Project located in Brazil.

Multispectral analysis targeting niobium mineralisation has been completed at Equador with 30 targets identified.

Previous surface sampling results at Equador have returned assays of up to 355,400ppm or 35.54% (Nb2O5) + 14,080ppm partial rare earth oxides (PREO) or 1.408% PREO.

HOR – Horseshoe Metals Limited today closed up 16% to finish at 1.1c on $280k stock traded. There was no news out today but roughly a month ago they announced an update regarding copper development activities at its Horseshoe Lights Copper-Gold Project (HSL) located in WA.

Discussions are ongoing with parties that have expressed interest in the offtake of the direct shipping ore (DSO) and potential future concentrates, including copper cement, produced at HSL.

The DSO sales are intended to come from high-grade copper stockpiles, HOR is intending to carry out additional drilling of the North Dump, gold stockpiles, copper low-grade oxide and low-grade sulphide stockpiles.

ADO – AnteoTech Limited today closed up 14% to finish at 2.4c on $880k stock traded. The reason they were up today was because they announced an update on partnering and commercial engagements following an attendance at the 14th international Advanced Automotive Battery Conference (AABC) in Strasbourg, France.

ADO’s Manuel Wieser, provided a presentation to over 100 participants with new technical data from a customer case study, demonstrating significant improvements in battery performance in an anode incorporating Anteo X.

AnteoTech has met with the project management team from the battery division of a global electric vehicle manufacturer or ‘EV1’ (due to confidentiality) which has been evaluating the use of Anteo XTM in their next generation batteries.

VTM – Victory Metals Limited today closed up 11% to finish at 30c on $150k stock traded. There was no news out today but on Monday they announced a placement to raise $2.5m @ 22c.

The funds raised will be used to further advance the North Stanmore Heavy Rare Earth Project situated adjacent to the Great Northern Highway in Cue, WA.

VTM plans to complete an updated mineral resource estimate (MRE) at North Stanmore which currently contains 250Mt @ 520ppm TREYO and makes it Australia’s largest heavy rare earth project.

VTM also plans on further project study work and metallurgical test work, with recent met results demonstrating recoveries of 93% for critical magnet metals.

What’s Not
ING – Inghams Group Limited today closed down 6% to finish at $3.60 on $46m stock traded. There was no news out early today although it was reported that an avian influenza has been detected on a farm in Victoria’s west.

Agriculture Victoria confirmed that preliminary tests detected the presence of the avian influenza virus, otherwise known as bird flu.

The property has been placed into quarantine and samples have been sent to the Australian Centre for Disease Preparedness, which is based nearby in Geelong.

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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