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Wednesday 26 June 2024

What’s Hot – SNX, CDD, HAR, LGM, FG1, FND, CRS, BMO & TOR

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

What’s Hot – SNX, CDD, HAR, LGM, FG1, FND, CRS, BMO & TOR
What’s Not – AMS

What’s Hot
SNX – Sierra Nevada Gold Limited today closed up 85% to finish at 7.6c on $280k stock traded. The reason they were up today was because they announced plans to follow up recent drilling at the Endowment Mine within its Blackhawk Epithermal project located in Nevada, USA.

SNX has previously identified a large and high-grade intermediate sulphidation epithermal Ag-Au-Pb-Zn vein system, with assays returning up to 5m @ 479 g/t Ag from 256.5m including 0.5m @ 1270g/t Ag.

The Endowment mine was discovered in the 1860s with most mining completed by the 1880s, achieving reported production of 70Koz Au equivalent.

CDD – Cardo Limited today closed up 45% to finish at 42c on $430k stock traded. The reason they were up today was because they announced yesterday after market that an unfranked dividend of $3.9m (10c per share) would be distributed to shareholders.

This distribution reflects the receipt of dividends of US$700k from Entrix Americas and the collection of the final balance outstanding of $3.7m from DT Global Australia related to the sale of Cardno International Development.

Cardno continues to focus on the divestment of its Entrix operations which is a US$3m revenue socio-economic business operating in Ecuador and Peru.

HAR – Haranga Resources Limited today closed up 28% to finish at 12c on $100k stock traded. The reason they were up today was because they announced drilling results from the Sanela prospect within its Saraya uranium project located in Senegal.

Haranga has had continued success at Sanela with 91 new auger holes drilled and assayed at the prospect, 140 out of 161 holes have encountered uranium anomalism.

Of the 91 recently drilled holes, 29 recorded significant uranium pXRF readings in saprolite samples, with concentrations ranging from 14ppm to 81ppm Uranium.

LGM – Legacy Minerals Holdings Limited today closed up 27% to finish at 28.5c on $520k stock traded. There was no news out today but roughly a fortnight ago they announced an exploration update for its Drake Project located in NSW.

LGM continues to incorporate a large amount of historical data and exploration information across the tenement and will follow up with targeted field work programs.

Historical drill results from Drake have returned intersections of up to 12.82m @ 48g/t Au and 2,589g/t Ag from 16.9m.

FG1 – Flynn Gold Limited today closed up 26% to finish at 3.4c on $2.1m stock traded. The reason they were up today was because they announced exploration results from the Link Zone prospect within its Golden Ridge Project located in Tasmania.

Mapping and vein sampling of mineralised veins have returned assays of up to 64.4g/t Au & 37.6g/t Au.

The mapping, rock sampling and previous RC drill results indicate high-grade mineralisation is structurally continuous at the Link Zone prospect over a strike length of at least 120m and a depth of 50m, it is open in all directions.

FND – Findi Limited today closed up 24% to finish at $3.77 on $4m stock traded. The reason they were up today was because they announced its full year financial results which highlighted a 22.1% increase in revenue to $66.5m.

EBITDA has also increased by 63% to $27.4m, with the help of an EBITDA margin of 41.2% which remains significantly ahead of historical averages.

Findi’s record financial results follows its successfully securing a 10-year contract with State Bank of India (SBI) that will generate revenue up to $620m through deploying 4,219 ATMs across India.

CRS – Caprice Resources Limited today closed up 19% to finish at 3.8c on $330k stock traded. There was no news out today but yesterday they announced exploration results from its recently acquired Mukinbudin Rare Earth Element Project located in WA.

Infill and extensional sampling at Colosseum has defined an elevated rare earth oxides (REO) target of 1.4km x 1.7km with ~75% of samples within this target area recording geochemical REO anomalism of 2,000ppm+.

Follow up infill soil sampling at Hadrian’s has also confirmed significant REO anomalism, which occurs at over a strike of 3.5km and remains open.

BMO – Bastion Minerals Limited today closed up another 13% to finish at 0.9c on $320k stock traded. The reason they were up today was because they announced exploration results from its Morrissey project located in the Gascoyne region of WA.

Extensive new lithium-bearing pegmatites were discovered towards the north end of the Central pegmatite target and potential new pegmatite corridors prospective for Lithium were confirmed.

Importantly, the field program discovered Pegmatites which show similar characteristics to other areas of the regional Ti Tree shear zone.

TOR – Torque Metals Limited today closed up 11% to finish at 21c on $155k stock traded. There was no news out today but last Friday they announced drilling was completed at its Paris Gold Project located in WA.

Drilling successfully extended mineralisation which was previously identified, previous intersections include up to 35m @ 14.12 g/t gold.

The Paris Gold Project reveals potential to host multiple deposits within a larger mineralised system characterised by parallel structures (2.5km by 1km and open) and splays under the control of the Boulder Lefroy System.

What’s Not
AMS – Atomos Limited today closed down 48% to finish at 2.1c on $440k stock traded. The reason they were down today was because they announced a placement and entitlement offer to raise $16.17m @ 2c.

The funds raised will be used to repay outstanding debt, finalise restructuring, invest in new product inventory & provide additional working capital.

AMS announced two new products at the NABSHOW in Las Vegas, one of the largest global trade shows for video, media, broadcast and entertainment.

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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