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Wednesday 26 June 2024

What’s Hot – WC1, CUF, ICL, TG1, BDX, VR8, SUM & OSX What’s Not – WMG

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

What’s Hot – WC1, CUF, ICL, TG1, BDX, VR8, SUM & OSX
What’s Not – WMG

What’s Hot
WC1– West Cobar Metals Limited today closed up 35% to finish at 5.4c on $100k stock traded. There was no news out today but roughly a fortnight ago they announced a maiden Scandium resource for the Newmont deposit within its Salazar Project located in WA.

The maiden inferred mineral resource estimate (MRE) contains 12Mt @ 103ppm Scandium, this is in addition to a previously reported MRE of 83Mt @ 1117 ppm TREO, 29Mt @ 5.01% TiO2 & 4Mt @ 29.6% Al2O3.

Preliminary metallurgical test work reports high scandium leach recovery up to 81.2% at atmospheric pressure.

CUF – CuFe Limited today closed up 31% to finish at 2.1c on $600k stock traded. There was no news out today but roughly a fortnight ago they announced an exploration update for its West Arunta projects.

A geophysical review has identified 9 target areas based on airborne magnetic data that have potential to represent carbonatite intrusive Niobium and Rare Earth Element (REE) mineralisation.

The modelled bodies have an approximate strike length of 1.5km and depth extent of 1km-1.5km in the highest susceptibility.

Land access is progressing through the regulatory steps and a draft land access agreement with the Parna Ngururrpa traditional owners is in progress and is to be considered by their Board in May.

ICL – Iceni Gold Limited today closed up 30% to finish at 9.2c on $390k stock traded. There was no news out today but yesterday they announced a placement to raise $1.7m @ 6.5c through the boys and girls at Evolution Capital & Morgans Corporate.

The funds raised will be used for an active initial 6-month exploration program on four immediate priority drill ready targets at the 14 Mile Project located in WA.

Drilling is planned to commence in the June Quarter, commencing with evaluating the Christmas Gift Prospect.

Last Wednesday, ICL announced rock chip assays results from outcropping gold bearing quartz veinlets which returned up to 18,207g/t Au (18.2kg per tonne).

TG1 – TechGen Metals Limited today closed up 23% to finish at 4.9c on $1m stock traded. The reason they were up today was because they announced the acquisition of the Blue Devil copper-gold project in WA.

Previous rock chip assays have returned up to 50.5% Cu and 15 of 34 previous rock chip samples recorded above 1% Cu.

The mineralisation within these structures continues sporadically across the width of the tenement, with mineralised locations mapped over a distance of about 10km.

The copper-rich structures contain variable amounts of other elements including gold which has achieved several assays above 3 g/t Au, with a peak of 6.9 g/t Au.

BDX – Bcal Diagnostics Limited today closed up 20% to finish at 12c on $110k stock traded. There was no news out today but roughly a fortnight ago they released its quarterly which highlighted that its internally managed SENSIBLE studies were completed.

BCAL is developing a blood-based test, BREASTEST for the detection of early-stage breast cancer.

These studies used prospectively collected Australian samples that were not previously analysed, to provide refinement of the lipid panel for BREASTEST.

VR8 – Vanadium Resources Limited today closed up 19% to finish at 5.6c on $100k stock traded. The reason they were up today was because they announced they would participate in a series of meetings and discussions across China over the next two calendar weeks.

VR8 has multiple potential offtake partners and strategic equity investors, including the companies with which VR8 has entered into offtake MoUs, namely Matrix, Hexiang, Enerflow and Zhongxin.

This follows an announcement yesterday which saw VR8 entering into a memorandum of understanding with Hunan Zhongxin New Materials Technology.

Zhongxin is a vanadium based high-end alloy material processing enterprise that integrates research and development, production and trade, with a customer base across the globe and annual production capacity of 13kt of vanadium based high-end alloy materials.

SUM – Summit Minerals Limited today closed up another 16% to finish at 14.5c on $560k stock traded. There was no news out today but last Thursday they announced exploration results from its recently acquired Equador Nb-REE Project located in Brazil.

Multispectral analysis targeting niobium mineralisation has been completed at Equador with 30 targets identified.

Previous surface sampling results at Equador have returned assays of up to 355,400ppm or 35.54% (Nb2O5) + 14,080ppm partial rare earth oxides (PREO) or 1.408% PREO.

OSX – Osteopore Limited today closed up 12% to finish at 8.7c on $3m stock traded. The reason they were up today was because they announced non-exclusive partnership agreement was signed with SingHealth until H2 CY26.

SingHealth is Singapore’s largest public healthcare cluster, it has a network of acute hospitals, national specialty centres, polyclinics and community hospitals offering over 40 clinical specialties.

The partnership will look to establish Osteopore’s first Global Centre of Excellence (GCoE), the GCoE enables OSX to set up a dedicated workspace to co-develop, test, validate, adopt and scale its customised medical device (CMD) globally.

What’s Not
WMG – Western Mines Group Limited today closed down 19% to finish at 30.5c on $250k stock traded. The reason they were down today was because they announced assay results from its Mulga Tank Project located in WA’s Eastern Goldfields.

Assay results were received from the last 4 drill holes which returned highlights of 220m @ 0.28% Ni, 124ppm Co, 63ppm Cu, 25ppb Pt+Pd from 82m.

Further drill holes will continue to be added to these programs, with ongoing targeting work, as WMG systematically explores the Mulga Tank Ultramafic Complex.

These results will feed into its ongoing modelling work and aid resource evaluation of this zone.

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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