What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – HWK, VHL, PIM, MGU, FBR, KGD, FUN & PNN
What’s Not – MGX & PVT
What’s Hot
HWK – Hawk Resources Limited today closed up 33% to finish at 4c on $390k stock traded. There was no news out today but last week they announced an option agreement was entered to earn up to 80% of the Olympus Scandium Project in the West Musgrave region, WA.
Olympus was previously explored for copper, nickel, cobalt, platinum group elements (PGE) and gold, scandium was not a target commodity of previous exploration.
A review of pXRF analyses of soil, lag and RAB samples has identified a 4km x 7km scandium soil anomaly with grades up to 1,284ppm Sc and peak RAB assays of 2,164ppm Sc over 1.0m sample intervals.
VHL – Vitasora Health Limited today closed up 23% to finish at 3.2c on $2.5m stock traded. The reason they were up today was because they announced an expansion of its agreement with Evolent Care Partners (ECP)
Evolent Care Partners is owned by Evolent Health (US$869m market cap) who provides specialty care management services in oncology, cardiology, and musculoskeletal markets in the US.
Evolent Health has announced the divestiture of ECP to Privia Health Group, a physician-led organization with ~1,500,000 lives under management and one of the highest-performing ACO portfolios in the US.
PIM – Pinnacle Minerals Limited today closed up another 15% to finish at 19.5c on $520k stock traded. There was no news out today but on Wednesday they announced the commencement of its on-ground exploration program across the Yellow Pine, Thunder Mountain, Antimony Queen & Justice Projects in Idaho and Washington State.
PIM has engaged Piton Exploration to undertake the initial field campaign, focusing on high-priority gold, silver, antimony, and tungsten anomalies across its strategic landholding.
The six Idaho Projects surround Perpetua Resources (A$4B market cap) Stibnite Project and lie within a similar structural corridor and share similar geological characteristics, including host rocks, alteration, and roof pendant mineralization style.
MGU – Magnum Mining and Exploration Limited today closed up 14% to finish at 0.8c on $220k stock traded. There was no news out today but last week they announced a placement to raise $7m @ 0.8c through CPS Capital Group & Alpine Capital.
The funds raised will be allocated towards permitting costs associated with the establishment of the Lovelock Processing Hub, exploration and drilling activities across its Brazilian REE Projects & new asset acquisitions.
MGU plans to investigate the establishment of a critical minerals processing hub on its 100%-owned tenements located at Lovelock, Nevada.
FBR – FBR Limited today closed up 13% to finish at 0.45c on $100k stock traded. There was no news out today but last week they announced its newest Hadrian unit has completed factory acceptance testing at its premises in High Wycombe, WA.
During the factory acceptance testing, the Hadrian built a test structure comprised of 751 blocks at an effective lay rate exceeding 285 blocks per hour.
Back in August, FBR announced a placement to raise $1m @ 0.45c through Peak Asset Management, along with a share purchase plan to raise a further $1m under the same terms as the placement.
KGD – Kula Gold Limited today closed up 12% to finish at 3.8c on $340k stock traded. The reason they were up today was because they announced assay results from its Mt Palmer Gold Project located in WA.
An RC drill program has returned assays of up to 14m @ 1.68g/t gold from 15m including 8m @ 2.10g/t gold from 16m.
The new assay results at the J2 & El Dorado targets suggest mineralisation is associated with a jaspilitic banded iron formation and quartz reefs hosted within.
FUN – Fortuna Metals Limited today closed up 11% to finish at 19.5c on $270k stock traded. There was no news out today but last week they announced a drilling update for its 100% owned Mkanda and Kampini rutile and graphite Projects located in Malawi.
A Phase 1 hand auger at the Mkanda Project consisted of 63 auger holes averaging 9.2m depth has been completed with assays anticipated to be received in November through to January.
The next phase of drilling will consist of an 800m spaced grid over the Mkanda Project for a total of 205 holes to 10m depth.
PNN – Power Minerals Limited today closed up 11% to finish at 15.5c on $1.1m stock traded. There was no news out today but on Tuesday they announced the commencement of a drill program at its Santa Anna Project located in Brazil.
Drilling will follow up on its recently completed maiden 29-hole, 2,272m program at the Santa Anna Project and subsequent auger drilling, which is still in progress.
The maiden program has already returned assays of up to 14m @ 17,944ppm (1.79%) TREO from surface to end of hole (EOH) including 5m @ 28,516ppm (2.85%) TREO from 1m.
What’s Not
MGX – Mount Gibson Iron Limited today closed down 27% to finish at 34.5c on $6.6m stock traded. The reason they were down today was because they announced an update on its Koolan Island operations located in WA.
Last week, a significant rockfall occurred on the eastern footwall (island-side) of the Main Pit.
Following intensive assessment since the incident, including input from external geotechnical specialists, MGX has determined that remediating the rockfall-affected area and resuming mining is not viable.
PVT – Pivotal Metals Limited today closed down 10% to finish at 1.8c on $500k stock traded. The reason they were down today was because they announced a placement to raise $4.25m @ 1.1c through Powerhouse Advisory Australia.
PVT will also receive an additional $1.1m (for a total of $5.4m) in non-dilutive funding secured via the Canadian flow-through share scheme, further enhancing total funding with minimal dilution to shareholders.
They have secured the commitment of well-known Australian resources sector figure Matthew Latimore, who will become a substantial shareholder in PVT.
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).