What’s Hot – MVF, GTK, QUB, SMM, MRD, EUR & LSR
What’s Not – AEU & MYX
What’s Hot
MVF – Monash IVF Group Limited today closed up 44% to finish at 88c on $35m stock traded. The reason they were up today was because they announced an unsolicited, conditional and non-binding indicative proposal was received from a consortium comprising Genesis Capital Investment Management & WHSP Holdings to be acquired for 80c in cash.
The offer values MVF at $311m and represents a 31% premium to the last closing price of 61c.
GTK – Gentrack Group Limited today closed up 21% to finish at $7.97 on $6.5m stock traded. The reason they were up today was because they released its full year results which highlighted an 8% increase in revenue to $230.2m.
GTK had also reported an 18% increase in EBITDA to $27.8m while statutory net profit after tax (NPAT) increased by 119% to $20.9m.
QUB – Qube Holdings Limited today closed up 19% to finish at $4.86 on $234m stock traded. The reason they were up today was because they announced a conditional, non-binding and indicative proposal was received from Macquarie Asset Management (MAM) to be acquired for $5.20 in cash.
The proposal follows an earlier unsolicited, non-binding and indicative offer at a lower value and a period of negotiation, which included the provision of limited due diligence information to facilitate a meaningfully improved proposal from MAM.
SMM – Somerset Minerals Limited today closed up 17% to finish at 1.4c on $460k stock traded. The reason they were up today was because they announced assay results from the Jura North target within its flagship Coppermine Project located in Nunavut, Canada.
All holes drilled to date at Jura North have intersected mineralisation with assays returning up to 42.7m @ 2.69% Cu from 15.24m including 16.8m @ 3.96% Cu from 41.15m.
MRD – Mount Ridley Mines Limited today closed up 15% to finish at 3.8c on $3m stock traded. There was no news out today but roughly a fortnight ago they announced an expansion of its tenure at the Mount Ridley Gallium and Rare Earth Project located in WA.
The new exploration licences significantly expand its footprint over the critical mineral rich, Grass Patch Complex.
EUR – European Lithium Limited today closed up 13% to finish at 17.5c on $2.4m stock traded. There was no news out today but last month they announced a further 3.03m shares were sold in Critical Metals Corp (CRML) to a single US institutional investor at US$16.50 for US$50M (approx. $A76m).
In addition, EUR confirmed that CRML has completed a private placement of approximately US$50m of equity funding.
LSR – Lodestar Minerals Limited today closed up 11% to finish at 2c on $290k stock traded. There was no news out today but a couple weeks ago they announced assay results from its Neds Creek Gold Project located in WA.
Drilling at the Gidgee Flat Prospect returned high-grade gold mineralisation with assays of up to 13m @ 4.38 g/t Au from 229m including 1m @ 49.60 g/t Au from 230m.
What’s Not
AEU – Atomic Eagle Limited (previously Tombador Iron TI1.sax) today closed down 31% to finish at 24c on $860k stock traded.
The reason they were down today was because they announced a merger with TSX-V-listed GoviEx Uranium, not sure what price was but anyway they down 31% according to ASX.
MYX – Mayne Pharma Limited today closed down another 18% to finish at $3.65 on $13m stock traded. The reason they were down today was because last Friday after market they announced written notice was received from the Foreign Investment Review Board (FIRB) stating that the Treasurer has objected to the proposed acquisition by Cosette Pharmaceuticals by way of scheme of arrangement.
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
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