What’s Hot – FBR, LIN, MFG, COD & VTM
What’s Not – MGT
What’s Hot
FBR – FBR Limited today closed up 25% to finish at 0.5c on $200k stock traded. The reason they were up today was because they announced a binding wall as a service (WaaS) offtake agreement was executed with EW Distribution Pty Ltd (trading as AMOVEO).
LIN – Lindian Resources Limited today closed up 23% to finish at 65c on $79m stock traded. The reason they were up today was because they announced a binding term sheet was executed to acquire 100% of the Summit Atom Rare Earth Company Arctic (SARECO) MREC (mixed rare earth carbonate) processing facility and associated infrastructure.
MFG – Magellan Financial Group Limited today closed up 22% to finish at $10.31 on $53m stock traded. The reason they were up today was because they announced an agreement was entered to merge with Barrenjoey Capital Partners.
COD – Coda Minerals Limited today closed up 14% to finish at 20.5c on $1.3m stock traded. There was no news out today but last month they announced revised economics for its flagship Elizabeth Creek Copper-Silver Project located in South Australia.
VTM – Victory Metals Limited today closed up 14% to finish at $1.535 on $1.9m stock traded. The reason they were up today was because they announced a metallurgical update for its North Stanmore Heavy Rare Earth Element Project located in WA.
What’s Not
MGT – Magnetite Mines Limited today closed down 16% to finish at 4.1c on $140k stock traded. The reason they were down today was because they announced an underwritten renounceable rights issue to raise $3.92m @ 4c through Mahe Capital.
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).