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Wednesday 26 June 2024

What’s Hot – REE, SER, KAL, CAZ, IR1 & SS1

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

What’s Hot – REE, SER, KAL, CAZ, IR1 & SS1
What’s Not – EL8

What’s Hot
REE – RareX Limited today closed up 36% to finish at 1.9c on $530k stock traded. The reason they were up today was because they announced the acquisition of a large niobium-rare earth project located in the East Yilgarn, WA.

The Khaleesi Project is located adjacent to the Mulga Rocks deposits which is owned by Deep Yellow (DYL.asx), Mulga Rocks contains a mineral resource of 115Mt @ 420 ppm for 104.8Mlb U308.

The eastern margin of the Yilgarn Craton hosts significant alkaline intrusions particularly along strike in the Queen Victoria Spring nature reserve 5km to the south which hosts the largest carbonatite pipe in Australia.

SER – Strategic Energy Resources Limited today closed up 33% to finish at 1.6c on $1.4m stock traded. The reason they were up today was because they announced a placement to raise $2m @ 1.1c through the boys and girls at Bell Potter.

The placement was cornerstoned by respected resources investment funds Datt Capital and Lowell Resources Fund, who are both yet to send me an order at the new joint.

Mr Tony Gu, a nominee of Datt Capital has been appointed as a non-executive director, he brings over a decade of experience in capital markets and investor relations.

KAL – Kalgoorlie Gold Mining Limited today closed up 22% to finish at 3.3c on $550k stock traded. The reason they were up today was because they announced assay results from the Wessex and Harbour Lights prospects within its Pinjin project located in WA.

Extensive, thick gold mineralisation and anomalism has been discovered at Wessex with assays returning up to 28m @ 1.27 g/t Au from 36m including 8m @ 1.90 g/t Au from 44m.

The orientation of gold mineralisation at Wessex which strikes north-northwest and dips shallowly to the east, is similar to the nearby Anglo Saxon deposit which contains 157Koz @ 6.1 g/t Au.

CAZ – Cazaly Resources Limited today closed up 21% to finish at 2.9c on $930k stock traded. There was no news out today but during lunchtime they were handed a speeding ticket from the ASX after increasing from 1.7c to a high of 2.8c.

CAZ responded that they were unaware of any unknown information, however noted that the increase may be a reflection of recent speculative Niobium news in the market and on social media, along with the possible association with its Carb Lake project in Canada.

Cazaly recently announced a drilling program for Carb Lake has been submitted, and once all approvals are in place, drilling is anticipated to commence in Q3.

IR1 – IRIS Metals Limited today closed up 16% to finish at 44c on $400k stock traded. There was no news out today but late last month they released its quarterly which highlighted a binding agreement was executed to enable access and exploration to the historic Tin Mountain property located in South Dakota, US.

The Tin Mountain Mine was acquired back in January, it is renowned for very large crystals of spodumene visible in the walls of the stopes and underground drives.

Iris has designed a drill program for the new Tin Mountain project, with drill approvals anticipated in the near term.

SS1 – Sun Silver Limited today closed up 14% to finish at 58c on $3.8m stock traded. The reason they were up today was because they announced a drilling update for its Maverick Springs Silver Project located in Nevada, US.

SS1 has commenced the tender process for its maiden drilling campaign at Maverick Springs, which already contains an inferred mineral resource of 292Moz @ 72.4g/t AgEq.

The deposit itself remains open along strike and at depth, with multiple mineralised intercepts located outside of the current resource constrained model.

What’s Not
EL8 – Elevate Uranium Limited today closed down 10% to finish at 55.5c on $600k stock traded. There was no news out today but late last month they released its quarterly which highlighted an updated mineral resource estimate (MRE) for its Koppies project located in Namibia.

The Koppies JORC MRE increased by 20% to 134.6Mt @ 195U3O8 ppm (100 ppm cut-off grade) for 57.8Mlb of contained uranium.

Koppies is one of the shallowest uranium resources globally and the diagram shows the near surface nature of the Koppies deposit, with approximately 95% of the total mineral resource being within 18.5m of the surface.

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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