Friday 26 July 2024

What’s Hot – PUA, TTT, I88, AL3, ITM, EXR, M2M, AWJ & COV

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

What’s Hot – PUA, TTT, I88, AL3, ITM, EXR, M2M, AWJ & COV
What’s Not – MRQ

What’s Hot
PUA – Peak Minerals Limited today closed up 67% to finish at 0.5c on $290k stock traded. The reason they were up today was because they announced the acquisition of an 80% interest in the Kitongo and Lolo Uranium Projects and the Minta Rutile Project located in Cameroon, West Africa.

The Kitongo and Lolo Project were both acquired by Mega Uranium Ltd in April 2007, as part of its acquisition of TSX-listed Nu Energy Corporation in a transaction valued at approximately C$150m.

During March 2009, Mega Uranium released results from an 11-hole diamond drilling program undertaken on the Kitongo Project indicating the presence of high-grade uranium mineralisation with up to 1.0% U3O8.

TTT – Titomic Limited today closed up 37% to finish at 13c on $2.6m stock traded. There was no news out today but on Monday they announced the sale of a custom high-pressure cold spray system to the Oregon Manufacturing Innovation Center (OMIC R&D) for US$790k (A$1.2m).

OMIC R&D provides commercial research and development services to companies including Sandvik Coromant, Boeing, and Daimler.

This purchase enables Titomic to expand the reach of R&D initiatives by providing access to Titomic’s world-leading cold spray technology to U.S.-based industry through OMIC R&D.

This will lead to industry’s enlightenment on the vast benefits of cold spray application, further presenting opportunities for its sales conversion and growth.

I88 – Infini Resources Limited today closed up another 36% to finish at 49c on $1m stock traded. There was no news out today but on Monday they announced exploration results from the Talus Uranium Prospect within its Portland Creek Project located in Newfoundland, Canada.

A maiden soil sampling program has defined a ~235m x 100m zone coincident with a historic radon gas anomaly, 17 samples returned in excess of the upper limit of detection of ~1.18% U3O8.

Infini will now complete re-assaying of the 17 samples above detection limit, a UAV geophysics structural interpretation and urgent fieldwork with an immediate focus on sampling radon gas anomalies at Talus.

AL3 – AML3D Limited today closed up yet another 26% to finish at 21.5c on $13m stock traded. There was no news out today but on Tuesday they announced a ~A$1.1m sale of a 2600 Edition ARCEMY system for use by US Navy component supplier, Laser Welding Solutions (LWS).

The purchase order, issued by Blue Forge Alliance, includes a one-year service and maintenance contract.

The purchase of this initial ARCEMY system follows the recent announcement that LWS is directly leasing, with the option to buy, two additional 2600 Edition ARCEMY systems to support the development of metal 3D printed components for the US Navy Submarine industrial base.

ITM – iTech Minerals Limited today closed up 21% to finish at 7.5c on $110k stock traded. The reason they were up today was because they announced rock chip assay results from its Reynolds Range Project located in the NT.

Numerous outcropping low-sulphide gold style veins systems were identified and sampled with assays returning up to 182 g/t Au.

The fast-tracked assay results at the Reynolds Range Project provides ITM with significant encouragement to advance exploration for copper and gold at the project.

This style of mineralisation appears to be widespread with significant results at Sabre, Sabre Southwest and Falchion, covering an area of 1.8km x 1.1km

EXR – Elixir Energy Limited today closed up 20% to finish at 12c on $280k stock traded. There was no news out today but on Tuesday they announced an operations update at its Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC) in the South Gobi Basin, Mongolia.

The Mongolian Pilot Plant has produced over 73,000 barrels of water since its inception, and the current daily water production is now stable at ~280 barrels of water per day, the highest level the field has seen from the Nomgon-9 and Nomgon-10 producing wells.

The CBM field is now seeing steady reservoir pressure decrease at around 5 psi per month, presuming this trend continues, the field should begin to see gas desorption breakthrough before the end of 2024.

Two additional pilot wells that were provisionally planned for 2024 are currently not considered necessary to assist and accelerate gas desorption breakthrough in the field.

M2M – Mt Malcolm Mines Limited today closed up 17% to finish at 4.1c on $2.8m stock traded. The reason they were up today was because they announced drill results from the Golden Crown Prospect located in WA.

The drill results from the grade control drillholes have confirmed the presence of high-grade gold mineralization in the proposed area for bulk sampling and have enhanced confidence in the grade of the bulk sampling program.

Drilling yielded multiple high-grade intercepts of up to 14m @ 16.78 g/t Au from 4m, including 1m @ 111 g/t Au and 6m @ 36.75 g/t Au.

M2M remains focused on resource estimation and further development activities at Golden Crown, supported by these promising results.

AWJ – Auric Mining Limited today closed up 15% to finish at 23c on $650k stock traded. The reason they were up today was because they announced the second gold milling campaign from the Jeffreys Find Gold Mine is expected to commence this month.

Jeffreys Find is located near Norseman and has an Indicated and Inferred gold resource estimate of 1.22Mt @ 1.22g/t for 47,900 oz with a 0.5g/t cut-off grade

The second gold campaign of the year is expected to generate in excess of $20m in gross revenue for the joint venture.

BML is planning on mining more than 300Kt of ore during Stages 2 and 3 of the Project in 2024 with further gold milling campaigns scheduled later in the year and early 2025.

COV – Cleo Diagnostics Limited today closed up 13% to finish at 44c on $200k stock traded. There was no news out today but last week they announced the completion of an initial pre-submission meeting with the FDA for its ovarian cancer detection blood test.

The pre-submission meeting is designed to permit COV to receive early guidance from FDA review teams prior to an eventual application submission.

CLEO is pursuing expedited FDA approval for its first ovarian cancer detection product – the pre-surgical Triage test – via the 510(k) application pathway.

CLEO’s clinical trial design has now been reviewed and approved in both the U.S. and Australia, the trial sites are being formally contracted, and patient recruitment is to commence shortly.

What’s Not
MRQ – MRG Metals Limited today closed down 20% to finish at 0.4c on $520k stock traded. The reason they were down today was because they announced a placement to raise $800k at 0.45c through the boys and girls at Peak Asset Management.

The funds raised will be used for its recently announced joint venture partners to progress the HMS Projects to decision to mine and subsequent mine development.

MRQ entered into a binding joint venture agreement with Shenzen (SLC) to develop its Mozambique Corridor Sands Projects.

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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