What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – RLT, AMS, AW1, 360, ASL, EVZ, 3DP
What’s Not – PHX
What’s Hot
RLT – Renergen Limited today closed up 38% to finish at 99c on $380k stock traded. The reason they were up today was because they announced its liquid helium production train is now fully operational at its Virigina Gas Plant located in South Africa.
RLT is currently accumulating liquid helium (LHe) inventory for sale to their customers, an Iso-container is scheduled to arrive later this month for filling.
The plant has been producing LHe since July, initially utilising the output to cool the vacuum jacketed pipelines and the inline helium storage tank to ~ 4.5 kelvin.
The optimisation efforts during the commissioning phase have yielded impressive results, evidenced by a significant reduction in timelines for the plant start up and cooldown processes.
AMS – Atomos Limited today closed up 23% to finish at 4.9c on $120k stock traded. There was no news out today but last week they released its quarterly which highlighted its highest quarterly revenue for FY24 of $9.7m.
Throughout the quarter, AMS announced the launch of two new products being the Ninja Phone and SunDragon (LE lighting system).
AMS is well progressed on its detailed cost restructure, having already significantly reduced staff costs to under 70 permanent staff (from 90) which is expected to be complete by Q1 FY25 with targeted EBITDA breakeven around $45m of sales.
AW1 – American West Metals Limited today closed up 21% to finish at 14.5c on $1.4m stock traded. There was no news out today but roughly a fortnight ago they announced drilling results from its Storm Copper Project located in Nunavut, Canada.
Thick visual copper mineralisation has been intersected in all nine step-out drill holes at the Thunder Prospect, extending the known strike of the mineralisation to over 300m.
One hole intersected a continuous 121.2m thick zone of visual copper sulphide mineralisation from 18.3m downhole while another hit 73.2m thick zone of visual copper sulphide mineralisation from 45.7m downhole.
360 – Life360 Incorporated Limited today closed up 18% to finish at $17.56 on $65m stock traded. The reason they were up today was because they released its quarterly results which highlighted a 20% increase in revenue year on year to $84.9m.
360 reported a positive adjusted EBITDA of $11m in comparison to a positive adjusted EBITDA of $5.7m in Q2CY23.
Life360 ended Q2’24 with cash, cash equivalents and restricted cash of $162m, an increase of $87.4m from Q1’24.
Life360 has updated its 2024 earnings guidance with consolidated revenue of $370m-$378m (upgraded from $365m-$370m) & positive adjusted EBITDA of $36m-$41mn (upgraded from $30m-$35m).
ASL – Andean Silver Limited today closed up 15% to finish at 65c on $580k stock traded. There was no news out today but on Monday they announced exploration results from its Cerro Bayo Project located in Chile.
ASL has identified a new, large, mineralised district where channel samples and rock chips have returned bonanza grades of up to 9,929 AgEq over an initial area of 4km by 1.8km.
The veins are spatially associated with a series of intrusive domes and display a range of high-level epithermal characteristics which are consistent with district wide controls on the distribution of silver-gold mineralisation.
EVZ – EVZ Limited today closed up 13% to finish at 17.5c on $240k stock traded. The reason they were up today was because they announced a new contract win with Rio Tinto valued at circa $23m.
Brockman (EVZ’s wholly owned subsidiary) has been awarded a bulk process water tanks package by Rio Tinto as part of the seawater desalination project at Parker Point, Dampier.
Works are expected to commence immediately on the design and procurement activities before a planned mobilisation to site in December for anticipated completion in the last quarter of 2025.
3DP – Pointerra Limited today closed up 10% to finish at 6.5c on $330k stock traded. The reason they were up today was because they announced new contract awards from existing US energy utility customer Florida Power & Light (FPL).
As America’s largest electric utility, FPL serves more customers and sells more power than any other utility, providing clean, affordable, reliable electricity to approximately 5.8 million accounts, or more than 12 million people.
Under the new contracts, Pointerra will be paid to analyse lidar and imagery for FPL business cases.
What’s Not
PHX – Pharmx Technologies Limited today closed down 33% to finish at 3c on $370k stock traded. The reason they were down today was because they announced the outcome of the Victorian Supreme Court appeal proceedings commenced by Fred IT Group.
The overall result has been a loss for PharmX Technologies.
As a consequence of these outcomes, PHX will be required to repay to Fred IT all of the approximately $8.1m previously paid to PHX.
The Board presently anticipates that this outcome will have no material impact on its underlying business, nor will it slow the execution and delivery of its commercial growth strategy.
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).