What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – NRZ, RR1, TMG, IIQ & DXN
What’s Not – ITT & BTH
What’s Hot
NRZ – Neurizer Limited today closed up 57% to finish at 1.1c on $190k stock traded. There was no news out today but late last month they released a change of substantial shareholding.
Energy Exploration Capital Partners sold 248m shares on market at 0.2c which you would have read about in here in the What’s Not section late month.
The Company received the shares as part of a convertible note which was issued at 0.1c, so a healthy 100% profit.
RR1 – Reach Resources Limited today closed up 42% to finish at 1.7c on $1.6m stock traded. The reason they were up today was because they announced exploration results from its Wabli Creek Project located in the Gascoyne region of WA.
Rock chip sampling has identified a primary source of high grade Nb/REE mineralisation with assays of up to 17.65% Nb2O5, 0.15% Y2O3, 10.81% Ta2O5, 31.39% TiO2 & 0.37% TREO.
The in-situ assay results taken straight from the bedrock were taken approximately 0.5km from the historically reported 32% Nb2O5.
TMG – Trigg Minerals Limited today closed up 33% to finish at 0.8c on $540k stock traded. There was no news out today but last month they announced the commencement of geophysical surveys at the Breccia Hill and Limey Prospects within its Drummond Gold Project located in QLD.
Trigg’s geophysical program will survey high-priority epithermal gold targets previously identified to prioritise targets for an upcoming drilling program.
In addition, Trigg has committed to conducting a heritage survey with Traditional Owners which is expected to occur in June.
IIQ – Inoviq Limited today closed up 19% to finish at 67c on $1.6m stock traded. The reason they were up today was because they announced that its NEURO-NET technology can isolate brain-derived exosomes in Alzheimer’s Disease.
NEURO-NET captures exosomes secreted from various brain cells, exosomes provide a fingerprint of the health or disease status of the parent cell and can cross the blood-brain barrier, making them promising candidates as diagnostics for neurological diseases.
Initial analytical and clinical validation studies have shown NEURO-NET to identify known Alzheimer’s biomarkers in exosomes that could not be detected by other methods.
DXN – DXN Limited today closed up 18% to finish at 7.1c on $130k stock traded. There was no news out today but last week they announced a market update.
DXN has advised that unaudited revenue for FY24 is expected to exceed $10m which is materially higher than FY23 revenue of $6.6m.
The revenue growth has been driven by the deployment of new modular data centres across multiple clients.
What’s Not
1TT – Thrive Tribe Technologies Limited today closed down 50% to finish at 0.4c on $380k stock traded. The reason they were down today was because they announced they conducted a strategic review of its technology suite.
1TT recently saw a significant increase in headcount and incurred substantial expense following the successful completion of the recent beta phase launch of its Kumu app.
As a result of the launch the Kumu team reached a head count of 16, following the review that headcount has now decreased to 2.
BTH – Bigtincan Holdings Limited today closed down 23% to finish at 10c on $770k stock traded. The reason they were down today was because they announced the completion of an institutional entitlement offer to raise $10m @ 10c with a further $10.5m to still be raised through the retail entitlement offer.
This follows a proposal from Vector Capital Management to acquire BTH for 25c in cash.
So it doesn’t come as much surprise that BTH had also received a letter from Vector Capital Management around lunchtime withdrawing their previous non-binding indicative offer @ 25c following the 10c entitlement offer.
Back in December 2022, BTH received a non-binding proposal to be acquired by SQN Investors for 80c in cash, which the board then decided to decline.
Not long after, BTH raised $35m @ 60c which represented a 25% discount to the proposal, today’s placement was a 60% discount to the indicative offer which really makes you scratch your head and wonder how this stuff happens.
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).