What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – SRJ, LKY, IR1, KRR, HAR, D3E, SGQ & RCM
What’s Not – PLS
What’s Hot
SRJ – SRJ Technologies Group Limited today closed up 36% to finish at 1.5c on $410k stock traded. There was no news out today but last month they announced the strategic acquisition of a UAE (United Arab Emirates) entity registered with a Middle Eastern National Oil Company (NOC).
The completion of the acquisition will deliver the platform to contract directly with a regional NOC and major regional clients – significantly advancing SRJ’s commercial capability in the region.
Regional NOC registration is granted after a rigorous assessment of technical, safety, financial, and operational standards.
LKY – Locksley Resources Limited today closed up 34% to finish at 29.5c on $6.6m stock traded. The reason they were up today was because they announced a non-binding heads of agreement was entered with EV Resources (EVR.asx) for an ore sales agreement.
Under the agreement, EVR will send representative samples of ore to Locksley’s refining facility to test and confirm ore properties and processing viability.
The ore sales agreement will set out the commercial framework for a long-term supply partnership, with an initial focus on offtake to support downstream processing studies.
IR1 – Iris Metals Limited today closed up 27% to finish at 14c on $270k stock traded. The reason they were up today was because they announced the acquisition of an extensive portfolio of private lands and federal mineral claims across the Black Hills of South Dakota, US.
The acquisition includes the Bob Ingersoll Mine, a historically significant producer of lithium and beryllium ore which was first discovered in 1880 and operated intermittently until the mid-1950s.
The property hosts five known pegmatite bodies, two of which have been partially mined, with all showing significant untested potential at depth.
KRR – King River Resources Limited today closed up 23% to finish at 1.6c on $150k stock traded. There was no news out today but last week they announced the appointment of Mr Graham Gadsby as managing director.
Prior to joining, Mr. Gadsby spent seven years at Spartan Resources (SPR.asx), where he held senior roles of both General Manager of Operations and Chief Geologist.
During his time with Spartan Resources, Mr Gadsby role was pivotal in many areas & for anyone that has followed the Spartan story should be well aware of who The Great Gatsby is from Spartan.
HAR – Haranga Resources Limited today closed up 22% to finish at 10.5c on $4.8m stock traded. The reason they were up today was because they announced assay results from its Ibel South Gold Project located in southeastern Senegal.
The maiden drill program has identified strong near-surface mineralisation with assays returning up to 20m @ 6.54 g/t Au from 12m including 4m @ 14.64 g/t Au.
Drilling has indicated mineralisation may extend laterally over 700m+, with potential for greater strike length if the zones connect.
D3E – D3 Energy Limited today closed up 16% to finish at 46.5c on $170k stock traded. There was no news out today but on Monday they announced its formal production right application had been accepted for its ER315 permit, located in South Africa’s Free State Province.
The submission of the production right application marks a major technical and commercial milestone for D3E, this was lodged approximately 12 months ahead of schedule and under budget.
The production right application includes a development plan for the initial 16 wells along the Virginia fault line, supported by robust flow testing and independent reserve certification.
EVR – EV Resources Limited today closed up 10% to finish at 1.1c on $600k stock traded. The reason they were up today was because they announced the acquisition of the historic Dollar Antimony Project located in Nevada.
The Dollar Project sits within the historic Jett Mining District, a region known for polymetallic systems rich in antimony, silver, lead, copper, and tungsten.
Historical assays have returned up to 40.63% Sb, with USGS modern sampling confirming values up to 10,000 ppm Sb (1.0%), alongside silver, lead, and copper credits.
SGQ – St George Mining Limited today closed up 11% to finish at 7c on $5m stock traded. The reason they were up today was because they announced a memorandum of understanding (MOU) was signed with REAlloys Inc to create a strategic alliance.
REAlloys is an integrated rare earth magnet materials producer for high-performance “US Protected Markets” including the US National Defense Stockpile (NDS), robotics, electric aviation and critical infrastructure industries and for US partner countries with defense treaties, alliances and agreements.
REAlloys produces high-performance neodymium iron boron (NdFeB) and samarium cobalt (SmCo) magnet materials.
RCM – Rapid Critical Metals Limited today closed up 10% to finish at 3.3c on $110k stock traded. The reason they were up today was because they announced the sale of its Ingersoll private project properties in South Dakota to Iris Metals (IR1.asx) for cash & scrip.
RCM will receive a US$50k cash payment along with US$625k in IR1 shares as consideration.
This is in addition to the sale of its Tin Mountain Project to IR1 for a further US$300k cash & a 2% gross revenue royalty on future production.
Last week, RCM announced the acquisition of the Webbs Consol Silver Project located in NSW.
What’s Not
PLS – Pilbara Minerals Limited today closed down 17% to finish at $1.985 on $323m stock traded. There was no news out today but last month they released its full year results which revealed a 176% fall in statutory loss after tax to $196m (previously a $257m profit).
The statutory loss after tax of $196m reflects lower pricing, higher depreciation expense, construction costs for the mid-stream demonstration plant project and non-cash impacts from the Group’s investment in P-PLS.
Revenue also declined 39% to $769m which was driven by a 43% decrease in the average realised price of US$672/t on a ~SC5.3% basis.
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).