Search

Thursday 25 July 2024

What’s Hot – RXM, REM, FBR, MRL, A3D, LYN & ENR

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

What’s Hot – RXM, REM, FBR, MRL, A3D, LYN & ENR
What’s Not – OVT

What’s Hot
RXM – Rex Minerals Limited today closed up 56% to finish at 43c on $23m stock traded. The reason they were up today was because they announced a scheme implementation deed (SID) was entered with MACH Metals Australia to be acquired for 47c in cash.

MACH was established in 2015 and is fully owned by the Salim Group, one of Indonesia’s largest conglomerates, MACH currently holds a 15.8% interest in Rex.

They took a ”strategic” placement earlier this year putting in $8.2m @ 17c, so that was a pretty good hint.

The Rex Board unanimously recommends that shareholders vote in favour of the 70.9% premium to the last closing price of 27.5c.

REM – RemSense Technologies Limited today closed up 29% to finish at 3.1c on $90k stock traded. There was no news out today but roughly a month ago they announced a purchase order was received from AGC Industries on behalf of Chevron Australia.

Chevron is one of the world’s leading integrated energy companies and through its Australian subsidiaries, has been present in Australia for 70 years.

RemSense will undertake virtualplant high-resolution photogrammetry scanning and image processing of Chevron’s Wheatstone LNG Train 2 for a contract value of $534k.

This followed a $534k contract received from Chevron only a few weeks before for its Gorgon LNG Train 1 in northwestern Australia.

FBR – FBR Limited today closed up 28% to finish at 4.1c on $3m stock traded. The reason they were up today was because they announced its first next-generation Hadrian X construction robot has arrived in the US.

The next-generation Hadrian X unit will undertake site acceptance testing at the facility, consisting of a test build outdoors, plus the inclusion of some bond beam blocks.

This will be followed by an inspection from an independent structural engineer to confirm that the constructed walls of the test build are consistent with the design and meet applicable building standards.

MRL – Mayur Resources Limited today closed up 17% to finish at 28c on $170k stock traded. There was no news out today but roughly a fortnight ago they announced a non-binding exclusive term sheet was signed with ACAM LP for a US$50m strategic investment.

ACAM is a prominent global investor in the natural resources sector, focusing on strategic long-term investments.

US$40m equity is to be made available alongside the contemplated announced Appian Capital Advisory US$70m base debt facility.

The funds raised will be used to prioritise Stage 2 and part of Stage 3 wharf facilities for the Central Lime Project (CLP) located in PNG, with MRL targeting early cash flow revenues from the sale of limestone and other raw products in late 2024.

A3D – Aurora Labs Limited today closed up 14% to finish at 8.9c on $630k stock traded. There was no news out today but roughly a fortnight ago they announced a memorandum of understanding (MOU) was signed Turbine MachineGenes.

Turbine MachineGenes is a private Australian Artificial Intelligence (AI) company, applying globally novel forms of evolutionary machine learning to industrial problems.

The MOU sets out the areas of collaboration for both Aurora Labs and Turbine MachineGenes to exchange information regarding AI technologies.

LYN – Lycaon Resources Limited today closed up 13% to finish at 29.5c on $320k stock traded. There was no news out today but last week they announced they won a ballot for the Myrnas Hill project located in the Pilbara region of WA.

Myrnas Hill is located adjacent to the Marble Bar and DOM’s Hill projects held by Kali Metals Limited (KM1.asx) and Sociedad Química y Minera de Chile (US$11.7b market cap).

The historical high-grade results from rock chips at Myrnas Hill has returned up to 42% Cu, 7.05% Cu, 6.49g/t Au & 47.7g/t Ag.

Late last month, LYN announced a heritage survey was scheduled for its Stansmore West Arunta Project located in WA.

ENR – Encounter Resources Limited today closed up 13% to finish at 82.5c on $9.4m stock traded. The reason they were up today was because they announced further assay results from its Aileron Project located in the West Arunta, WA.

Assay results from the Crean target have returned up to 46m @ 3.1% Nb2O5 from 60m to end of hole including 4m @ 6.4% Nb2O5 from 84m.

These results confirm continuity along strike of high-grade shallow mineralisation at Crean which previously returned 52m @ 3.0% Nb2O5 from 81m just 200m to the east.

What’s Not
OVT – Ovanti Limited (previously IOUPay Limited IOU.asx) today closed down 25% to finish at 0.9c on $280k stock traded. There was no news out today but roughly a fortnight ago they announced the signing of a significant new contract with a leading commercial bank in Malaysia.

iSentric (wholly owned subsidiary) will oversee SMS Broadcast and a comprehensive omnichannel marketing communication strategy for the Bank.

iSentric internally forecast the combined value of these contracts to be worth approximately A$4.8m annually over the next three years.

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).

Free stock updates

Subscribe to receive the latest stock news, CEO interviews, expert insights, events and offers directly into your inbox