Wednesday 26 June 2024

What’s Hot – OSX, AUG, RCR, SUM, L1M, RCE, PCL & QPM

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

What’s Hot – OSX, AUG, RCR, SUM, L1M, RCE, PCL & QPM
What’s Not – ATP

What’s Hot
OSX – Osteopore Limited today closed up 139% to finish at 39.5c on $1m stock traded. The reason they were up today was because they announced the successful commencement of first-in-human clinical trials for knee preservation in Singapore.

The first patient was treated with Heparan Sulphate 3 (HS3) and aXOpore via a high tibial osteotomy (HTO) at Singapore’s National University Hospital (NUH).

HTO is a surgical procedure that is performed to correct angular deformities of the knee to prevent development or progression of unicompartmental osteoarthritis.

Following the surgery, the patients will participate in a post-operative rehabilitation program up to the 2-year mark, with bone union assessed at 6 and 9 months.

AUG – Augustus Minerals Limited today closed up 37% to finish at 4.1c on $400k stock traded. The reason they were up today was because they announced rock chip assay results from its Ti-Tree Project located 200kms east of Carnarvon in WA.

Reconnaissance field work conducted on the Ti Tree Project’s northwestern tenement has discovered high grade copper and silver mineralisation in two areas.

The mapping identified two areas containing mineralised veins and historic workings with assays of up to 17.8% Cu & 282g/t Ag at the Tiberius prospect and 6.6% Cu & 86g/t Ag from the Claudius prospect.

AUG has also recently commenced RC drilling at the Minnie Springs Cu-Mo-Ag porphyry prospect within the same project

RCR – Rincon Resorces Limited today closed up another 36% to finish at 4.5c on $1.2m stock traded. There was no news out today but yesterday they announced exploration results from its West Arunta Project located in WA.

A ground gravity survey has defined the Avalon bullseye target which forms a 3km east-west elongated gravity anomaly high with a high amplitude of ~5mGal and represents either carbonatite-Nb-REE or IOCG mineral target for drill testing.

SUM – Summit Minerals Limited today closed up 28% to finish at 11.5c on $1m stock traded. The reason they were up today was because they announced the acquisition of a niobium, rare earth & lithium portfolio located in the Minas Gerais & Paraiba regions of Brazil.

The Niobium and REE tenement package consists of Juazeirinho, Equador, Aratapira, Santa Sousa and T1/T2 Projects, covering a combined strategic area of 107.47 km2 across 11 granted tenements.

Panned concentrates from pegmatite and sediment samples at Juazeirinho and Equador have returned up to 355,400ppm or 35.54% (Nb2O5) + 14,080ppm partial rare earth oxides (PREO) or 1.408% PREO.

L1M – Lightning Minerals Limited today closed up another 17% to finish at 10.5c on $100k stock traded. There was no news out today but yesterday they announced the acquisition of an options agreement over two lithium projects located in Brazil’s Lithium Valley district in the state of Minas Gerais.

RCE – Recce Pharmaceuticals Limited today closed up 14% to finish at 65c on $230k stock traded. There was no news out today but yesterday they released its quarterly which highlighted the successful production of 5,000 of its RECCE 327 (R327) doses per week with its patented manufacturing process.

R327 is as an intravenous and topical therapy that is being developed for the treatment of serious and potentially life-threatening infections due to Gram-positive and Gram-negative bacteria including their superbug forms.

Producing 5,000 doses of R327 per week is a significant achievement that provides surplus sample material for multiple present Phase I, Phase II and an anticipated registrational Phase III diabetic foot ulcer infection study ahead.

Good manufacturing practices certification signifies compliance with rigorous guidelines set by regulatory authorities, including the U.S. Food and Drug Administration (FDA).

An update was also provided on its Phase I/II diabetic foot infection clinical trial with the study achieving its primary endpoints of resolving/curing bacterial infections in DFI.

Following this success, Recce is looking to expand clinical sites domestically and internationally, accelerating patient recruitment across a wide patient population.

PCL – Pancontinental Energy Limited today closed up 12% to finish at 2.8c on $2m stock traded. There was no news out today and nor has there been since back in February when they announced the appointment of Mr Iain Smith as CEO.

Iain has been advisor to the PCL Board since May last year, having previously been MD of successful Perth Basin explorer, Norwest Energy (NWE.asx).

QPM – Queensland Pacific Metals Limited today closed up another 11% to finish at 4.9c on $630k stock traded. There was no news out today but yesterday they announced an update on its strategic direction.

The Board has resolved that its core focus will be to immediately switch to accelerating the growth and development of its gas and energy assets.

The board believes there is strong potential to deliver exceptional shareholder returns by accelerating growth of the QPM Energy business, particularly in light of recent published forecasts by AEMO which highlight supply gaps in East Coast Australia gas.

The acquisition of the Moranbah Project (back in August last year) transformed QPM into the 6th largest domestic gas producer listed on the ASX (10PJ per annum and growing).

QPM will accelerate the development of production and reserves at the Moranbah Project which has substantial, uncontracted gas reserves giving it the capacity to deliver large volumes of gas into the Eastern Australian market.

What’s Not

ATP – Atlas Pearls Limited today closed down 32% to finish at 11.5c on $1.5m stock traded. The reason they were down today was because they announced an update on a recent auction at Kobe and a report on its sales results for the quarter.

ATP recently conducted an auction in Kobe Japan where 104,000 pearls were offered for sale, ATP formed the view that the prices did not reflect the true worth and chose to scale down sales.

Atlas ended up selling 68,786 pearls at an average price of $68.60 per piece for total revenue of $4.66m, much lower than its highs of $112 a pearl back in November last year.

ATP continues to work on the genetics initiative and while it is too soon to see any effect from this work in harvest results, Atlas continues to see an improvement in the quality index for those pearls harvested.

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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