What’s Hot – ZAG, TDO, RMX, MBX, ILA, ATR, SP8, DY6, FUN
What’s Not – IPX
What’s Hot
ZAG – Zuleika Gold Limited today closed up 57% to finish at 4.7c on $800k stock traded. The reason they were up today was because they announced a final settlement was reached in relation to its long-running Plutonic Gold Mine litigation against Catalyst Metals Limited’s (CYL.asx).
ZAG (Dampier Gold Limited at the time) commenced proceedings against Vango Mining (Now Catalyst Metals) back in February 2020.
TDO – 3D Energi Limited today closed up 39% to finish at 16c on $4.2m stock traded. The reason they were up today was because they announced a drilling update from its Essington-1 gas exploration well located offshore the Otway Basin, Victoria.
Elevated gas readings were recorded in both the Waarre C (intersected at 2265 metres MDRT(measured depth rotary table) and Waarre A (intersected at 2515 metres MDRT) reservoirs.
RMX – Red Mountain Mining Limited today closed up 27% to finish at 3.8c on $1.9m stock traded. The reason they were up today was because they announced it will officially commence trading tonight on the OTCQB under the ticket RMXFF.
In addition, Red Mountain has secured the support of highly experienced markets and investor engagement advisors, with have deep networks within the US capital markets, to further enhance and complement the benefits of the listing.
MBK – Metal Bank Limited today closed up 27% to finish at 1.9c on $230k stock traded. The reason they were up today was because they announced assay results from its Whiteheads Gold Project located in WA.
Drilling at the Seven Leaders prospect returned high grade gold results and confirmed strong mineralisation over >250m strike with assays of up to 5m @ 15.17g/t Au from 27m including 2m @ 35.55g/t Au.
ILA – Island Pharmaceuticals Limited today closed up 24% to finish at 52.5c on $4m stock traded. The reason they were up today was because they announced positive responses were received from the FDA to questions posed in a Type C Meeting Request regarding Galidesivir’s approval pathway for use in Marburg under the Animal Rule.
The FDA confirms the Animal Rule pathway is appropriate for developing countermeasures against Marburg and advised that Galidesivir would qualify for a Priority Review Voucher (PRV) on approval.
ATR – Astron Limited today closed up 22% to finish at 858.5c on $1m stock traded. There was no news out today but last month they announced a non-binding and conditional letter of support from Export Finance Australia (EFA) for up to A$80 million in financing for the development of the Donald Rare Earth and Mineral Sands Project located in Victoria.
The Donald Project total funding requirement is estimated to be $520m based on the latest project parameters released in July.
SP8 – Streamplay Studio Limited today closed up 18% to finish at 1.3c on $200k stock traded. The reason they were up today was because they announced an early performance update on its Winter Burrow game.
Winter Burrow represents one of SP8’s largest multi-platform launches to date, marking its entry into the global premium console and PC market.
DY6 – DY6 Metals Limited today closed up 12% to finish at 14.5c on $100k stock traded. There was no news out today but a month ago they announced auger drilling was underway at its Central Rutile Project located in Cameroon, Africa.
The program will initially focus on its high-priority Bounde and Nganda licences, located west of the capital of Yaoundé.
FUN – Fortuna Metals Limited today closed up 12% to finish at 14.5c on $230k stock traded. The reason they were up today was because they announced soil sampling results from its Mkanda and Kampini rutile and graphite Projects located in Malawi, Africa.
Results of soil sampling to date has defined broad areas of high tenor >1.0% rutile at multiple anomalies across the Mkanda Project with a peak rutile result of 2.32%.
What’s Not
IPX – IperionX Limited today closed down only 3% to finish at $5.44 on $40m stock traded. The reason they were down today was because they announced a response to a short seller report from Spruce Point Capital Management.
We wouldn’t usually write a stock that is down 3%, but with the controversy around the short selling report & the response from the boss over the weekend, we just couldn’t leave it out.
Spruce Point Capital Management’s report stated that investor expectations are too high, cautious on it’s growth outlook and have had a swing at them (sold them short) & wrote massive long report on why they have done so.
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).