What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – OVT, IRX, SLM, TM1, ASL, OMA, NVU, ADO & MTH
What’s Not – PER
What’s Hot
OVT – Ovanti Limited today closed up another 86% to finish at 2.6c on $5.5m stock traded. There was no news out today but yesterday they announced the appointment of Mr Simon Keast as CEO.
Mr Keast used to be the US CEO of Zip Co (ZIP.asx) along with other roles at Zip as managing director, division director and head of small business designs & solutions.
Mr Keast is a result-focused and decisive C-suite leader with a track record of driving strategy development to execution and delivering step changes in business performance.
IRX – InhaleRx Limited today closed up 36% to finish at 3c on $180k stock traded. The reason they were up today was because they announced a funding facility was secured with Clendon Biotech Capital for up to $38.5m.
Clendon Biotech Capital is a Melbourne based venture capital investor which is focused on small to mid-size bio-technology companies in its target therapeutic areas – neuroscience, gastroenterology, oncology and anti-aging.
This strategic partnership will provide the funding to cover all direct costs associated with the Phase 1 & 2 clinical development of its key projects – IRX-211 & IRX-616a.
SLM – Solis Minerals Limited today closed up 29% to finish at 12.5c on $120k stock traded. There was no news out today but on Tuesday they announced exploration results from its Cinto Project located in southern Peru which no doubt you read about in here on Tuesday night.
Solis completed a combined drone and ground magnetometry survey which showed magnetic anomalies south of an intrusive batholith contact.
Areas of low magnetic response north-east of the batholith contact represent alteration that contains the area of visible copper mineralisation present at Cinto.
TM1 – Terra Metals Limited today closed up 21% to finish at 4.7c on $100k stock traded. There was no news out today but back in August they announced assay results from its Dante Cu-Au-PGE project located in WA.
Partial drill results from Reef 1 South have confirmed another substantial increase to the discovery strike with assays returning up to 17m @ 0.12% Cu, 0.21g/t PGE3, 0.28% V2O5, 9.4% TiO2, from 31m.
The strike now stands at approximately 20km, further demonstrating the large-scale potential of the Dante Reefs copper-PGE sulphide, vanadium and titanium discovery.
ASL – Andean Silver Limited today closed up 16% to finish at $1.35 on $5.7m stock traded. There was no news out today but last month they announced a placement to raise $25m @ $1.17 through Canaccord Genuity, Euroz Hartleys & SCP Resource Finance.
The funds raised will be utilised for resource conversion and exploration activities at the Cerro Bayo Silver Project located in Chile.
As part of the exploration program, it is Andean’s intention to increase the number of drill rigs on site to four focusing on brownfield and greenfield targets and resource conversion.
OMA – Omega Oil & Gas Limited today closed up 14% to finish at 32c on $540k stock traded. The reason they were up today was because they announced a drilling update for the Canyon-1H well located in the Bowen Basin in Southern QLD.
Drilling of the Canyon-1H horizontal well is progressing smoothly with over 550m of horizontal section drilled after the horizontal section of the well was landed precisely on target into the Canyon Sandstone.
Strong gas shows with fluorescence indicating the presence of condensate have been recorded while drilling within the target section.
NVU – Nanoveu Limited today closed up 13% to finish at 4.3c on $650k stock traded. The reason they were up today was because they announced they commenced benchmark testing for the ECS-DOT chipset by Embedded A.I. Systems (EMASS).
Back on Tuesday, NVU announced the acquisition of EMASS which holds a proprietary, semiconductor system on a Chip (SoC) business and intellectual property (IP) portfolio.
Integration of EMASS’ ultra-low power SoCs into NVU’s EyeFly3D platform will provide them with a unique competitive edge to meet the growing market need for energy-efficient AI-enabled hardware and 3D capabilities across a growing range of portable devices in a wide range of industries.
ADO – AnteoTech Limited today closed up 12% to finish at 2.9c on $2.3m stock traded. The reason they were up today was because they responded to a price query from the ASX following the release of an announcement on Tuesday.
ADO announced a first purchase order was received for its Ultranode battery anode technology from an undisclosed company.
AnteoTech has now confirmed that the other party is Mercedes-Benz AG.
ADO previously had taken all efforts to protect the confidentiality of Mercedes Benz as “EV1” due to the stage of commercial relationship and the confidential nature of the work being undertaken.
MTH – Mithril Silver and Gold Limited today closed up 11% to finish at 49.5c on $3m stock traded. The reason they were up today was because they announced further assay results from its Copalquin District project located in Mexico.
Drilling at the El Refugio target returned intercepts of up to 4.6 m @ 5.51 g/t gold & 182.4 g/t silver from 99m including 0.60m @ 28.0 g/t gold, 997 g/t silver.
The El Refugio target already hosts a high-grade gold-silver JORC resource of 529koz AuEq @ 6.81 g/t AuEq which is supported by a conceptional underground mining study.
What’s Not
PER – Percheron Therapeutics Limited today closed down 34% to finish at 8.9c on $2.6m stock traded. The reason they were down today was because they announced an institutional placement to raise $13m @ 8c through the boys and girls at Canaccord Genuity.
PER is also launching a share purchase plan to raise a further $2m under the same terms, which is a massive 40% discount to the last closing price of 13.5c.
The funds raised will be used for completion of the Phase IIb avicursen clinical trial (ATL1102), optimisation of manufacturing processes & R&D patent protection.
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).