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Wednesday 26 June 2024

What’s Hot – NVU, FAL, MMI, FBM, SUM, DXB & MTH

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

What’s Hot – NVU, FAL, MMI, FBM, SUM, DXB & MTH
What’s Not – CNB & LMG

What’s Hot
NVU – Nanoveu Limited today closed up 41% to finish at 3.1c on $3.1m stock traded. The reason they were up today was because they announced a binding heads of agreement (HOA) was signed with Rahum Nanotech for the exclusive distribution rights of its EyeFly3D in South Korea.

Rahum Nanotech is based in South Korea and is a manufacturing company that develops and produces media art and AR Headsets.

The HOA includes minimum orders totaling USD$19.725m (approx. A$29.637m) by the 31st of December 2026 is required to maintain exclusivity.

NVU has received initial purchase orders for USD$372k worth of products for the period up to the end of the current calendar quarter (including app development reimbursement).

FAL – Falcon Metals Limited today closed up 29% to finish at 27c on $700k stock traded. There was no news out today but on Tuesday they announced assay results from its Farrelly Mineral Sands Prospect located in Victoria, which hopefulyl you read about in here on Tuesday night.

High grade mineral sands were intersected and remains open in several directions with intersections of up to 26m @ 8.9% total heavy minerals (THM) from 6m including 15m @ 12.9% THM from 13m.

Drilling has identified a thick zone of mineralisation now defined covering an area of approximately 1,200m by 600m and remaining open in several directions, additional high-grade zones have also been identified up to 5km to the north of the Main Zone.

MMI – Metro Mining Limited today closed up 17% to finish at 4.9c on $5m stock traded. There was no news out today but roughly a fortnight ago they announced an update on its JORC ore reserve and resource estimates for the Bauxite Hills Mine located in QLD.

So dare say a speeding ticket from the ASX or Constable Chapman in the morning for Metro crew.

Bauxite Hills total mineral resource estimate stands at 118.7Mt @ 49.2% Al2O3 & 14.1% SiO2 while the ore reserves stand at 83.2Mt @ 49.8% Al2O3 & 13.1% SiO2.

FBM – Future Battery Metals Limited today closed up 16% to finish at 4.3c on $310k stock traded. There was no news out today but yesterday they announced Phase 4B drilling had commenced at its Kangaroo Hills Lithium Project (KHLP) located in WA.

The program comprises up to 3,000m of RC drill testing of the interpreted north-easterly extension of the high-grade Big Red lithium mineralisation.

Drilling will build on recent successful step-out drilling which demonstrated a further 65m of northern continuity via a project-best intercept of 31m @ 1.13% Li2O from 86m.

Drilling is expected to complete by mid-to-late June, with assays expected mid to late July.

SUM – Summit Minerals Limited today closed up 15% to finish at 23.5c on $1.1m stock traded. There was no news out today but on Monday they announced a placement to raise $2m @ 18.5c through the boys and girls at GBA Capital who were kind enough to offer us a few.

The fund raised will be used to accelerate exploration activities at its recently acquired Niobium and REE projects in Brazil, namely the Equador and Juazerinho Prospect’s which have had historical near surface artisanal activities for Niobium and Tantalum.

Summits’ managing director Gower He completed a successful community engagement and project site visit, strengthening its in-country presence.

DXB – Dimerix Limited today closed up 14% to finish at 45.5c on $8.8m stock traded. There was no news out today but on Monday they announced an exclusive license agreement was entered with Taiba Middle East for the commercialisation of its Phase 3 drug candidate DMX-200.

The agreement is for the rights to use DMX-200 for the treatment of focal segmental glomerulosclerosis (FSGS) kidney disease in the United Arab Emirates (UAE), Saudi Arabia, Oman, Kuwait, Qatar, Bahrain and Iraq.

DXB will receive up to $120.5m from Taiba in upfront and milestone payments, in addition to tiered royalties starting at 30% on net sales.

MTH – Mithril Resources Limited today closed up 10% to finish at 23.5c on $300k stock traded. The reason they were up today was because they announced drilling had commenced at its Copalquin Project located in the Durango state, Mexico.

Mithril has developed high priority targets at its district scale 7km x 10km Copalquin project and is aiming to increase its current JORC resource of 529Koz @ 6.8 g/t gold equivalent.

The Copalquin Project has previously produced intercepts of up to 8.26m @ 80.3 g/t Au, 705 g/t Ag & 3m @ 34.7 g/t Au, 3,129 g/t Ag.

What’s Not
CNB – Carnaby Resources Limited today closed down 17% to finish at 63c on $1.3m stock traded. The reason they were down today was because they announced a scoping study for its Greater Duchess Copper Gold Project in Mt Isa, QLD.

Financial analysis of the fixed optimised open pit and underground production target tonnages was run at US$4.56/lb copper and US$2,345/oz gold.

This generated a net present value (NPV7) of A$294m and an internal rate of return (IRR) post tax of 105% for the third party processing scenario.

LMG – Latrobe Magnesium Limited today closed down 14% to finish at 4.8c on $400k stock traded. The reason they were down today was because they announced a capital raising of $18m @ 4.5c through the boys and girls at Ord Minnett.

The raise consists of a $12m placement and a $6m 1 for 15 entitlement offer which will be underwritten by Ord Minnett.

LMG’s directors and management have subscribed for $650k in the placement subject to shareholder approval.

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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