What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – NVU, OVT, ERM, TYP, BNZ & CCO
What’s Not – FCG
What’s Hot
NVU – Nanoveu Limited today closed up 30% to finish at 4.8c on $1m stock traded. The reason they were up today was because they announced the commencement of the next phase of benchmark testing for the ECS-DOT chipset, developed by Embedded A.I Systems (EMASS).
The tests will focus on two critical applications, anomaly detection and keyword spotting, using standardised workloads from the MLPerf Tiny AI suite
MLPerf Tiny benchmarking suite is an industry-standard suite providing reproducible, reliable assessments of SoC performance in speed, accuracy and energy efficiency, results are expected within a week.
OVT – Ovanti Limited today closed up 19% to finish at 2.5c on $2.1m stock traded. There was no news out today but last week they released its quarterly report which highlighted a strong performance of its 21% owned business I.Destinasi Sdn Bhd (IDSB).
IDSB is a specialised finance company focusing on providing instalment-based consumer credit services to civil servants for and on behalf of Malaysian banks.
Ovanti purchased the 21% interest back in 2021 for $20.3m, OVT is finalising the sale of its holding in IDSB in order to fund its entry into the US BNPL market.
ERM – Emmerson Resources Limited today closed up 17% to finish at 5.4c on $69k stock traded. The reason they were up today was because they announced its joint venture partner Tennant Consolidated Mining (TCMG) had received a proposal to be acquired by Pan African Resources.
ERM is meeting with TCMG to ascertain PAN’s intentions and the implications for Emmerson, the joint venture and their ongoing exploration activities in Tennant Creek.
Last month, ERM, TCMG & CuFe (CUF.asx) announced the formation of a strategic alliance to collaborate on their copper, gold and critical metals development opportunities in the Tennant Creek Region of the NT.
TYP – Tryptamine Therapeutics Limited today closed up 12% to finish at 3.7c on $220k stock traded. There was no news out today but last week they released its quarterly which highlighted a placement to raise $6m @ 2c through the boys and girls at Merchant Group.
The placement was cornerstoned by the high conviction Merchant Biotech Fund (MBF) and Dr Daniel Tillett who will also be appointed a non-executive director.
Dr Tillett is the founder and CEO of Nucleics, an Australian biotechnology company focused on the development of software tools that improve DNA sequencing and genomics, he is also currently the CEO/MD of Race Oncology (RAC.asx $255m market cap).
BNZ – Benz Mining Corporation Limited today closed up 12% to finish at 29c on $540k stock traded. The reason they were up today was because they announced the acquisition of the Glenburgh & Mt Egerton Gold Projects from Spartan Resources (SPR.asx) for up to $15.6m in cash and scrip.
Glenburgh is a substantial 786km² land package situated 250km east of Carnarvon which has a granted mining lease and a JORC mineral resource estimate (MRE) of
The Glenburgh Gold Project has a granted mining lease 16.3Mt @ 1.0g/t Au for 510Koz of contained gold.
CCO – The Calmer Co Limited today closed up 11% to finish at 1c on $870k stock traded. The reason they were up today was because they announced a trading update which highlighted a record-breaking result in October.
CCO recorded $860k in revenue for October which equates to an annualised rate of >$10m per annum which is more than triple the amount of revenue on the previous corresponding period (pcp).
The result was driven by record monthly sales in both the Amazon USA channel and the Australian Shopify eCommerce channel, with total eCommerce sales of $670k or >$21,500/day.
What’s Not
FCG – Freedom Care Group Holdings Limited today closed down 46% to finish at 7c on $100k stock traded. The reason they were down today was because they announced two notices were received from the NDIS Quality and Safeguards Commission.
One of the notices advised of the preliminary view that the registration of FCGPL as a registered NDIS provider should be revoked.
The other notice views it appropriate to place a banning order permanently restricting FCGPL from providing or managing any supports, services or funding to people with disability both directly and indirectly.
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).