What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – NMT, JRV, PLC, HFR, OMA & WCN
What’s Not – PGO & RIM
What’s Hot
NMT – Neometals Limited today closed up 32% to finish at 14.5c on $1m stock traded. There was no news out today but on Monday they announced an update on the potential gold endowment at its Barrambie Project located in WA.
Barrambie is not only one of the world’s highest-grade titanium deposits but is also highly prospective for gold mineralisation, with minimal gold exploration occurring since the 1970s.
An exploration target has been calculated along the 40km strike of the Barrambie Greenstone Belt (BGB) within its tenure which is between 8Mt-10.5Mt @ 1.3g/t-2.3g/t Au for a contained 335Koz-775Koz Au.
JRV – Jervois Global Limited today closed up 27% to finish at 1.4c on $270k stock traded. There was no news out today but roughly a fortnight ago they announced the majority bondholder of the US$100 million 12.5% Idaho Cobalt Operations senior secured bonds had agreed to modifications to the Jervois Finland (JFO) working capital facility.
To support its continuing work with its debt and equity capital providers on potential transactions to strengthen its balance sheet, the lender has agreed to provide an additional US$7.5m delayed draw term loan.
As part of the term loan, the lender will receive additional security including a pledge over the shares of Jervois Brasil which owns the São Miguel Paulista nickel cobalt refinery.
PLC – Premier1 Lithium Limited today closed up 20% to finish at 1.2c on $300k stock traded. The reason they were up today was because they announced an update on its strategic review for the Yalgoo Project located in WA.
A review of historical exploration at Yalgoo project has identified extensive gold mineralisation including intersections of up to 5m @ 5.1g/t Au & 10m @ 6.4g/t Au.
The Yalgoo project covers approximately 220km2 across much of the northern portion of the Yalgoo-Singleton Greenstone Belt which hosts both the large Golden Grove and Deflector copper-gold mines as well as many other deposits and prospects.
HFR – Highfield Resources Limited today closed up 13% to finish at 34c on $280k stock traded. The reason they were up today was because they announced the completion of its institutional placement to raise $17.9m @ 29.89c through the boys and girls at Morgan Stanley & DBS Bank.
Among the placement was a US$5m (A$7.5m) commitment from by EMR Capital Resources Funds III, a specialist resources private equity manager.
Back on Tuesday, Highfield announced a placement to raise US$220m @ 50c with cornerstone investments from Yankuang Energy (US$90m), Beijing Energy (US$50m) & Taizhong (US$30m) which represented a 64% premium to the last closing price of 30c.
OMA – Omega Oil and Gas Limited today closed up 13% to finish at 36c on $420k stock traded. There was no news out today but on Monday they announced its Canyon-1H horizontal well located in QLD had been spudded, which no doubt you read about in here earlier this week.
The well program consists of re-entering the Canyon-1 vertical well and drilling a new horizontal section up to a maximum length of 1,100m long, and is expected to take 3-4 weeks.
Omega plans to complete a multi-stage hydraulic fracture stimulation, flowback and well testing program after analysing and integrating the results of the well.
WCN – White Cliff Minerals Limited today closed up 11% to finish at 2.1c on $120k stock traded. There was no news out today but late last month they announced exploration results from its Great Bear Project located in Northwest Territories, Canada.
Rock chip samples taken from the Slider Prospect has returned bonanza grades of up to 7.54% Ag (75,439g/t Ag or 2,425 Oz/t Ag).
An additional new E-W structural trend has been identified within the Slider region with over 450m of strike length returning assays up to 904g/t Ag, 6.5% Cu and 8.1% Zn.
What’s Not
PGO – Pacgold Limited today closed down 28% to finish at 10.5c on $110k stock traded. The reason they were down today was because they announced a placement to raise $4.1m @ 9c through the boys and girls at Euroz Hartleys.
PGO is also undertaking a share purchase plan (SPP) to raise a further $1.5m under the same terms, directors intend to subscribe for a combined $75k in the placement.
The funds raised will be used to accelerate exploration at its Alice River Gold Project located 300km northwest of Cairns, North QLD.
The exploration will consist of regional geochemical and geophysical surveys, regional RC drill programs, diamond drilling to continue resource definition and metallurgical test work.
RIM – Rimfire Pacific Mining Limited today closed down 27% to finish at 5.8c on $1.3m stock traded. The reason they were down today was because they announced the termination of the Fifield project earn-in agreement with Golden Plains Resources.
Golden Plains Resources (GPR) had the right to earn a joint venture interest of up to 50.1% in the Fifield Project.
RIM has exercised a termination right which has arisen as a result of a change of control of GPR following the judgement of the Victorian Supreme Court, RIM does not owe GPR any funding received prior to the termination.
The Fifield Project contains the Murga North Scandium Prospect where RIM has recently reported an inferred mineral resource estimate of 21Mt @ 125 ppm Sc (4,050t Sc Oxide).
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).