What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – SWF, BMG, MHK, TSO, ZEO, TYP, TCG, VR1 & OSM
What’s Not – NXL
What’s Hot
SWF – SelfWealth Limited today closed up 71% to finish at 20.5c on $2.9m stock traded. The reason they were up today was because they announced the receipt of a non-binding indicative proposal to be acquired by Bell Financial Group (BFG.asx) for 22c in cash.
Bell Financial Group is an Australian-owned, highly diversified financial services and wealth management business and a leading provider of direct investment, clearing, research, and cash and lending solutions.
The Selfwealth Board has determined that the Bell proposal is highly attractive for shareholders and has entered into an exclusivity deed to negotiate and document the terms of a binding offer.
BMG – BMG Resources Limited today closed up 25% to finish at 1.5c on $650k stock traded. The reason they were up today was because they announced drilling would commence later this month at its Abercromby Gold Project located in WA.
Drilling is aimed at growing the current mineral resource estimate (MRE) of 11.12Mt @ 1.45 g/t Au for 518,000 oz Au.
Abercromby Gold is comprised within two granted Mining Leases with access to infrastructure (roads, power) and proximal to a number of producing gold mines.
MHK – Metal Hawk Limited today closed up 22% to finish at 25c on $170k stock traded. The reason they were up today was because they announced a non-brokered placement to raise $2.5m @ 20c with the directors applying for $60k subject to shareholder approval.
The proceeds will be used to fund gold exploration activities including the maiden drilling program at the Leinster South Project located in WA.
Metal Hawk recently discovered high grade gold at the Leinster South project, located along the eastern limb of the Lawlers Anticline.
TSO – Tesoro Gold Limited today closed up 20% to finish at 2.4c on $100k stock traded. There was no news out today but roughly a fortnight ago they announced assay results from its El Zorro Gold Project located in the Coastal Cordillera region of Chile.
Drilling intercepted wide, high-grade gold mineralisation in the northern area of the Ternera Gold Deposit with assays of up to 46.15m @ 11.86g/t Au from 77.15m including 22.25m @ 23.66g/t Au from 77.15m.
The drill program was designed to target key areas within a 1.5km radius of the existing Ternera Deposit as well as conducting infill and extensional drilling.
ZEO – Zeotech Limited today closed up 16% to finish at 5.9c on $530k stock traded. There was no news out today but not after lunchtime they were handed a speeding ticket after increasing from 3.5c last Wednesday to an intraday high of 5.7c.
ZEO responded that they were unaware of any unknown information, however noted its recent execution of a non-binding memorandum of understanding (MOU) with Holcim.
Holcim Australia is a leading supplier of aggregates, concrete, and concrete pipe and products and one of the largest integrated suppliers and manufacturers of building materials and solutions in Australia & NZ.
TYP – Tryptamine Therapeutics Limited today closed up 15% to finish at 5.4c on $600k stock traded. There was no news out today but roughly a fortnight ago they released its quarterly which highlighted a placement to raise $6m @ 2c through the boys and girls at Merchant Group.
The placement was cornerstoned by the high conviction Merchant Biotech Fund (MBF) and Dr Daniel Tillett who will also be appointed a non-executive director.
Dr Tillett is the founder and CEO of Nucleics, an Australian biotechnology company focused on the development of software tools that improve DNA sequencing and genomics, he is also currently the CEO/MD of Race Oncology (RAC.asx $255m market cap).
TCG – Turaco Gold Limited today closed up 13% to finish at 30.5c on $1.5m stock traded. The reason they were up today was because they announced assay results from the Niamienlessa Trend within its Afema Project located in southeast Cote d’Ivoire.
Drilling intersected a newly discovered moderately dipping zone of shallow gold mineralisation with assays returning up to 12m @ 6.72g/t gold from 18m including 6m @ 11.85g/t gold from 18m.
Due to the shallow nature of drilling results, the majority of mineralisation has been intercepted in the oxide zone (extending up to 80m from surface), however one hole also returned 28m @ 1.04g/t gold from 71m in fresh rock indicating broad mineralisation remains open at depth.
VR1 – Vection Technologies Limited today closed up 11% to finish at 3c on $1.1m stock traded. There was no news out today but roughly a fortnight ago they announced a partnership with Dell Technologies to launch its AI-based Algho platform across the EMEA region (Europe, Middle East & Africa).
This collaboration strengthens its position in AI and Spatial Computing with the AI platform now available to Dell’s salesforce and partners, VR1 has secured its first sale to Dell valued at circa $500k.
By integrating its generative AI layer with its existing technology, Vection is delivering a powerful AI platform designed to meet the operational needs of large enterprises
OSM – Osmond Resources Limited today closed up 11% to finish at 47c on $150k stock traded. There was no news out today but roughly a month ago they released its quarterly report which highlighted the acquisition of an 80% interest in Iberian Critical Minerals (ICM).
ICM has the right to earn a 90% interest in Green Mineral Resources (GMR), who holds a 100% interest in the rights and title to the Orion EU Critical Minerals Project located in Spain.
Orion contains a siliciclastic geological system with various layers rich in critical minerals including rutile (titanium), zircon, hafnium, and light and heavy rare earths.
What’s Not
NXL – Nuix Limited today closed down 22% to finish at $5.90 on $43m stock traded. The reason they were down today was because they released a chairman’s address which highlighted a 14% increase in annual contract revenue (ACV) to $211.5m.
An important driver of ACV growth was the lift in Net Dollar Retention, which rose to 112.9%, up 3.7 percentage points on the prior year.
NXL delivered strong EBITDA growth over the year with underlying EBITDA up 38.7% to $64.4m and statutory EBITDA up 60.2% to $55.9m.
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).