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Friday 21 June 2024

What’s Hot – NAE, SDV, RNX, NIM, LYN, NXS & CGR

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

What’s Hot – NAE, SDV, RNX, NIM, LYN, NXS & CGR
What’s Not – RPM

What’s hot
NAE – New Age Exploration Limited today closed up 33% to finish at 0.4c on $69k stock traded. The reason they were up today was because they announced exploration had commenced at its Wagyu Gold Project located in the Central Pilbara, WA.

Following a comprehensive review of existing geophysical data, NAE has identified several Hemi style intrusive and structural gold targets located ~9km along strike from De Grey Mining’s (DEG.asx) Hemi Gold Deposit containing ~10.5Moz.

SDV – Scidev Limited today closed up 28% to finish at 34c on $2.2m stock traded. The reason they were up today was because they released its quarterly results which highlighted a 38% increase in revenue on Q3 FY23 to $29.1m.

SDV had a stronger gross profit margin of 30% driven by growing demand for proprietary chemistry solutions, particularly in Energy and improved profitability in the Water Technologies business.

Scidev’s market share in the oil and gas sector improved significantly as their industry-leading proprietary chemistry is increasingly adopted by a growing client base across multiple onshore basins.

With a growing portfolio of significant new contracts and strong demand across our end markets, SciDev is well-positioned to continue to grow their operational and financial footprint.

RNX – Renegade Exploration Limited today closed up 27% to finish at 1.4c on $80k stock traded. There was no news out today but last week they announced exploration results from its flagship Cloncurry Project located in north-west QLD.

Renegade has identified a large, tier-1 drill target named Mongoose Deeps which is a very large magnetic anomaly similar to the world-class Ernest Henry Cu-Au mine located 35km to the north-east.

Renegade has received a $300k Collaborative Exploration Initiative (CEI) grant from the QLD Government to fund drilling of the target which is scheduled for May.

NIM – Nimy Resources Limited today closed up 25% to finish at 5.5c on $400k stock traded. The reason they were up today was because they announced drilling results from Block 3 located within its Mons project in WA.

Drilling returned intersections of elevated copper, gold, silver mineralisation in massive sulphides plus high-grade gallium and rare earth oxide mineralisation.

Some of the best intersections included 17m @ 1,463ppm TREO from 23m, 1m @ 1975ppm Cu from 48m & 240m @ 50ppm Ga₂O₃ (Gallium) from surface.

LYN – Lycaon Resources Limited today closed up 19% to finish at 28.5c on $200k stock traded. The reason they were up today was because they released its quarterly which highlighted the recently granted land access approval for its Stansmore Niobium-REE Project located in the West Arunta region of WA.

The Stansmore carbonatite target consists of a regionally prominent 700m long magnetic feature analogous to WA1’s discoveries and Encounter’s (ENR.asx) Worsley prospect.

NXS – Next Science Limited today closed up 12% to finish at 47c on $230k stock traded. The reason they were up today was because they announced the publication of a study on XPERIENCE.

XPERIENCE was found to be efficacious in preventing periprosthetic joint infection (PJI) in patients undergoing primary knee, hip and shoulder arthroplasties (joint replacement).

Periprosthetic joint/shoulder infections (PJI/PSI) are a devastating complication of primary JAs with infection prevention deemed as the single most important strategy in combating them.

CGR – CGN Resources Limited today closed up 11% to finish at 34c on $200k stock traded. There was no news out today but yesterday they released its quarterly which highlighted the commencement of a high impact exploration program at its Webb Project located in WA.

A recently completed ground-based geophysical program confirmed the presence of the regionally significant airborne gradient gravity anomalies at all four iron-oxide copper-gold targets being Surus, Snorky, Horton and Tantor.

CGR has also completed all required permitting and negotiated contracts for drilling to complete both Diamond and RC programs over the course of the 2024 exploration season.

What’s not
RPM – RPM Automotive Group Limited today closed down 16% to finish at 7.1c on $110k stock traded. The reason they were down today was because they announced a placement to raise $4m @ 7.2c through the boys and girls at Bell Potter.

The funds raised will be used towards its tyre recycling program and to repay $2m of its convertible note with Collins Street Value Fund.

The remaining amount owing to CSVF ($3.8,) will be rolled over into a second ranking secured debt at an interest rate of 4.35% per annum and a maturity date of 31 August 2025.

RPM affirms its FY24 earnings guidance of EBITDA in the range of $11m–$13m, RPM also expects earnings growth to continue into FY25 with EBITDA expected to be in the range of $16m-$18m.

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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