What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – MRZ, VBC, SRR
What’s Not – MAY & AR1
What’s Hot
MRZ – Mont Royal Resources Limited today closed up 38% to finish at 27.5c on $2.9m stock traded. The reason they were up today was because they listed after raising $10m @ 20c, which you might have read already on Monday night.
Mont Royal completed a transformational merger with TSXV-listed Commerce Resources to create a new Canadian-focused critical metals company focused on developing the 100%-owned Ashram Rare Earth and Fluorspar Deposit in Québec, Canada.
VBC – Verbec Limited today closed up 33% to finish at 15c on $460k stock traded. The reason they were up today was because they announced the acquisition of Alliance Automation for $5.5m in cash.
Alliance Automation is one of Australia’s largest independent providers of digital transformation, cyber security and industrial automation integration services, with a developing capability in machine learning and artificial intelligence (AI).
SRR – Sarama Resources Limited today closed up 23% to finish at 4.9c on $520k stock traded. There was no news out today but on Monday they announced it has filed its written memorial detailing its claim against the Government of Burkina Faso (GoBF) as well as damages for the sum of US$242m, plus interest.
The proceedings arise from the unlawful expropriation of its Tankoro 2 Exploration Permit in Burkina Faso and follow the submission of its Request for Arbitration (RFA) to the International Centre for Settlement of Investment Disputes (ICSID) in December 2024.
What’s Not
MAY – Melbana Energy Limited today closed down 53% to finish at 0.7c on $910k stock traded. The reason they were down today was because they announced drilling results for the Amistad-2 well within its 30% owned Block 9 PSC located onshore Cuba.
The well was drilled to a total depth of 2,000m measured depth with a total of 169m measured depth of highly porous net reservoir intersected.
An extensive logging program was conducted and provided positive indications of extensive porosity and oil saturation, although no oil was recovered.
AR1 – Austral Resources Limited today closed down 71% to finish at 4.7c on $3.3m stock traded. The reason they were down today was because they reinstated after being suspended since August 2023.
AR1 completed a placement to raise $40m @ 5c through Bell Potter Securities & Shaw and Partners.
The funds raised will be used to strengthen its balance sheet along with the acquisition of Rocklands to create dual-hub copper production platform across NW Queensland’s copper belt.
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).