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Thursday 25 July 2024

What’s Hot – VN8, M4M, RDN, MRL, RAD, CXL & TM1

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

What’s Hot – VN8, M4M, RDN, MRL, RAD, CXL & TM1
What’s Not – BCB

What’s Hot
VN8 – Vonex Limited today closed up 94% to finish at 3.5c on $960k stock traded. The reason they were up today was because they announced a scheme implementation deed (SID) was entered with Maxo Telecommunications to be acquired for 3.75c in cash.

MaxoTel is an Australian telecommunications provider, offering best-in-class VoIP, hosted PBX and SIP trunking solutions.

The Vonex Board unanimously recommends that Vonex shareholders vote in favour of the 108% premium to the last closing price of 1.8c.

Most shareholders would still be down after the $34.4m transaction with the share price reaching highs of 33c back in early 2021.

M4M – Macro Metals Limited today closed up 23% to finish at 3.7c on $800k stock traded. There was no news out today but late last month they announced rock chip assay results from its Cane Bore Iron Ore Project located in WA.

The results indicate a strong degree of consistency of mineralisation throughout the samples collected coupled with a low deleterious element profile, assays returned up to 58.17% Fe.

The results from the rock chip campaign have given the board sufficient confidence to increase the scale of the drilling program that commences during June to 50m x 50m spacing.

A program of works has been approved by the DEMIRS for the drilling of the Callisto and Europa Prospects which will aim to define a maiden indicated mineral resource.

RDN – Raiden Resources Limited today closed up 19% to finish at 3.1c on $830k stock traded. There was no news out today but roughly a month ago they announced the receipt of the final heritage survey report for its Andover North Project located in the Pilbara, WA.

No changes from the preliminary heritage survey report have been flagged, and therefore RDN can reconfirm that that an AC drilling program will be carried out over the key prospects.

Program of works (POW’s) for 3 tenements have now been submitted to DEMIRS for approval, management are planning to commence the AC drilling program as soon as its approved.

MRL – Mayur Resources Limited today closed up 19% to finish at 22c on $800k stock traded. The reason they were up today was because 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.

RAD – Radiopharm Theranostics Limited today closed up 18% to finish a 4c on $420k stock traded. The reason they were up today was because they announced the completion of a placement to raise $62.5m @ 4c through the boys and girls at Bell Potter Securities & B. Riley Securities.

Lantheus Holdings has also agreed to make an initial strategic equity investment of $7.5m @ 5c which represents a 47% premium to last closing price of 3.4c.

Lantheus Holdings is a radiopharmaceutical industry leader who engages in the provision of diagnostic imaging and nuclear medicine products.

CXL – Calix Limited today closed up 15% to finish at $1.475 on $1.8m stock traded. The reason they were up today was because they announced an update on the progress with its Direct Air Capture (DAC) projects in partnership with DAC company, Heirloom.

Calix’s will provide its electric calcination and carbon capture technology to two Heirloom DAC facilities capable of removing up to ~320,000 tons of carbon dioxide from the atmosphere per year.

The 300Kt per year facility is Heirloom’s contribution to Project Cypress, a Department of Energy (DOE)-supported DAC Hub eligible for up to $600m in government funding.

TM1 – Terra Metals Limited today closed up 11% to finish at 8.1c on $5.7m stock traded. The reason they were up today was because they announced a placement to raise $6m @ 6c through the boys and girls at Evolution Capital, who were kind enough to offer us a few.

Terra’s largest shareholder, Tribeca, has committed to subscribe for approximately $941k & directors of the company have committed to subscribe for $174k.

I spoke with the boss briefly today (about my allocation) amongst other things but it was short sharp and to the point and I’ve still got plenty of love for the Line, Clear Eyes, Long John & Uncle Roon.

The funds raised will be used to accelerate exploration and development at its Dante Project located in WA.

What’s Not
BCB – Bowen Coking Coal Limited today closed down 10% to finish at 5.3c on $410k stock traded. There was no news out today and nor has there been since they announced its quarterly back in April which highlighted a 105% increase in coking coal sales volume from the previous corresponding period (pcp).

The record number, which effectively represents the Burton Complex steady-state mining rates, was achieved in the wake of higher-than-expected rainfall, lightning, rail cancellations and port closures.

The Burton Complex was on track to meet FY24 guidance of run-of-mine (ROM) of 2.3Mt-2.6Mt, sales of 1.5Mt-1.8Mt and free on board (FOB) cash costs excluding State royalty of $175-$195/t.

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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