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Friday 26 July 2024

What’s Hot – SCL, ADG, ERM, PPK, AKM, PGY, DRE & PSC

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

What’s Hot – SCL, ADG, ERM, PPK, AKM, PGY, DRE & PSC
What’s Not – AGC

What’s Hot
SCL – Schrole Group Limited today closed up 181% to finish at 45c on $1.6m stock traded. The reason they were up today was because they announced a scheme agreement was entered with TES Global to be acquired for 48.52c in cash.

TES is a leading education technology platform supported by the world’s largest community of teachers, creating intelligent online products and services.

Schrole and TES have also entered into an alliance agreement, under which both parties will use reasonable endeavors to collaborate on commercial opportunities.

ADG – Adelong Gold Limited today closed up 40% to finish at 0.7c on $340k stock traded. The reason they were up today was because they announced a non-binding memorandum of understanding (MoU) was entered with Cosmo Gold & Sarama Resources (SRR.asx).

Back in August 2020, ADG announced its intention to sell its Cosmo Newbery gold project to Cosmo who would then seek to IPO, although in June 2021 Cosmo had withdrawn the IPO.

ADG has accepted to receive scrip (25m shares) and options in Sarama in full settlement of the loan obligations owed by Cosmo to Adelong Gold, for an 80% interest in the Cosmo Newbery project.

ERM – Emmerson Resources Limited today closed up 26% to finish at 5.4c on $160k stock traded. The reason they were up today was because they announced its joint venture partner Tennant Mining had commenced construction of the Nobles Gold Processing Facility located in the NT.

Tennant Mining’s conventional 840Ktpa CIL gold processing facility is being relocated from Cloncurry in QLD and constructed at its Nobles project area located ~14km southeast of Tennant Creek.

ERM and Tennant Mining entered into two earn-in to exploration joint ventures (EEJV) over the Northern Project Area & Southern Project Area, where Tennant Mining has the right to earn a 75% interest in both areas through expending a total of $10.5m on exploration over five years.

PPK – PPK Group Limited today closed up 17% to finish at 40.5c on $420k stock traded. The reason they were up today was because they announced a decision on relief in court proceedings.

The Court has ordered PPK to issue to Flynfam Flynn Family Trust $500k divided by the volume-weighted average price (VWAP) over the 30 trading days immediately preceding the judgment date, estimated at 44c.

The court case has been going since the 30th of August 2023, so it would come as a relief to shareholders that the proceedings are now over.

Back in June, PPK announced its 47.37% owned Craig International Ballistics received a $30m order from the Australian Defence Force (ADF).

AKM – Aspire Mining Limited today closed up 15% to finish at 30c on $210k stock traded. There was no news out today but back in April they announced findings from a comprehensive marketing study completed on its Ovoot Coking Coal Project located in Mongolia.

The Ovoot Coking Coal project has been classified as FM36 Metabituminous coal, a high-quality and sought-after product used in coke production.

Aspire plans to truck coal from the Ovoot mine site to a rail terminal near the city of Erdenet in northern Mongolia, where it will be transported into China.

The Ovoot washed coal has medium ash, medium Sulphur, high G index, low CSR, and high CRI characteristics which offer advantages over Chinese domestic fat coals.

PGY – Pilot Energy Limited today closed up 11% to finish at 2c on $800k stock traded. The reason they were up today was because they announced its application to declare a Greenhouse Gas Storage Formation over the WA 31- L licence area has been approved.

The declaration instrument notes a storage capacity of 13.4Mt for the Cliff Head Storage Formation which is sufficient for the initial stage of the Mid West Clean Energy Project (MWCEP) Cliff Head CO2 Storage project.

The declaration is one of the first of its kind for an offshore CO2 storage project in Australia and provides confidence in the Australian regulatory regime, further de-risking the MWCEP for potential international project partners.

DRE – Dreadnought Resources Limited today closed up 11% to finish at 0.2c on $170k stock traded. The reason they were up today was because they announced drilling had commenced at its Tarraji-Yampi Project located in WA.

Diamond drilling will test 6 Cu-Au volcanogenic massive sulphide (VMS) targets around the Orion deposit, which has previously returned up to 12m @ 1.6% Cu, 31.7g/t Ag, 0.5g/t Au, 0.02% Co from 45m.

DRE has entered into a drill for equity agreement with Topdrill, the agreement provides an option to satisfy up to 50% of drilling costs by the issue of fully paid ordinary shares up to a maximum value of $1m.

PSC – Prospect Resources Limited today closed up 11% to finish at 15.5c on $220k stock traded. The reason they were up today was because they announced assay results from the recently acquired Mumbezhi Copper Project located in the world-class Zambian Copperbelt.

Previously unreleased results which have been acquired from a 2021 drill program has identified new wide copper intercepts of up to 38.0m @ 0.87% Cu from 101m and 32m @ 0.68% Cu from 159m.

The validated drilling data sets have now been captured into a dedicated spatial database, which forms the basis for ongoing 3D modelling of the Nyungu deposits and ultimately the estimation of a maiden JORC-reportable copper mineral resource.

What’s Not
AGC – Australian Gold and Copper Limited today closed down 24% to finish at 30c on $3.8m stock traded. The reason they were down today was because they announced assay results from the Achilles Prospect within its Cargelligo Project located in Cobar, NSW.

Assays returned from the final 6 holes of the program returned up to 24m @ 13.0% Pb+Zn, 64g/t Ag, 0.6g/t Au & 0.7% Cu from 87m.

A new drilling program is scheduled to begin this week comprising up to 20 RC holes followed by ten diamond core holes, focused on extending the strike length and depth of the deposit.

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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