What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – AUG, C7A, SM1, LIT, SLM, TM1, NTI, ALA & TLX
What’s Not – WA1
What’s Hot
AUG – Augustus Minerals Limited today closed up 145% to finish at 9.3c on $3.8m stock traded. The reason they were up today was because they announced exploration results from its Ti-Tree Project located in the Gascoyne Region of WA.
Rock chip assay results received from Ti-Tree have returned up to 35% copper, 10.1g/t gold, 236 g/t silver & 5,000ppm molybdenum.
Augustus will continue with field checking of geophysical/remote sensing targets, follow-up of existing soil anomalies and continuation of the regional soil sampling program which is now over 60% complete.
C7A – Clara Resources Limited today closed up 55% to finish at 1.7c on $260k stock traded. The reason they were up today was because they announced the sale of its stake in First Tin to Metals X (MLX.asx) for $4.3m.
Before today’s announcement, Clara had a market cap of $2.2m.
The funds raised will be used towards the acquisition of a remaining 60% stake in Ashford Coal Project from Savannah Goldfields (SVG.asx), along with paying off debt.
Clara is purchasing the remaining 60% of Ashford for a total consideration of $3.95m, plus a $0.75/tonne future royalty on coal sales.
SM1 – Synlait Milk Limited today closed up 48% to finish at 34c on $300k stock traded. The reason they were up today was because they announced The a2 Milk Company Limited was indicating it will vote in favour of a resolution at its special shareholders meeting today.
The meeting is to vote on the resolution to approve the proposed entry into a $130m shareholder loan to be made available to Synlait.
The loan would be made by Bright Dairy International Investment, a related company of Bright Dairy Holding who is a 39.01% shareholder in SM1.
LIT – Lithium Australia Limited today closed up 28% to finish at 2.3c on $500k stock traded. The reason they were up today was because they announced they achieved a significant milestone of delivering positive operating profit during Q4 FY24.
LIT operates Australia’s market leading battery recycler, produces critical battery material lithium ferro phosphate (LFP), and has developed a patented lithium extraction technology.
The positive operating profit was achieved was driven by the growth in their upstream ‘fee for service’ recycling model, increasing overall revenues and lowering dependence on downstream commodity sales.
SLM – Solis Minerals Limited today closed up 26% to finish at 14.5c on $320k stock traded. There was no news out today but on Tuesday they announced exploration results from its Cinto Project located in Peru.
Initial mapping programs have identified a zone within and bordering the Incapuquio Fault system that shows the presence of abundant copper oxides with artisanal workings.
Several assays returned copper values greater than 1% and one high grade sample returned up to 7.14% Cu in a highly mineralised oxide zone.
TM1 – Terra Metals Limited today closed up another 21% to finish at 10.5c on $4.1m stock traded. There was no news out today but last week they announced further assay results from its Dante Reefs Project located in WA.
Drilling has confirmed a second large Platreef-style copper-platinum group element (PGE) sulphide reef at Reef 2 with assays returning up to 10m @ 0.86g/t PGE33, 0.85% V2O5, 0.23% Cu, & 19.3% TiO2 from 84m.
The discovery strike along Reef 1 and Reef 2 now stands at over 9km of magmatic copper-PGE sulphide mineralisation from surface with mineralisation remaining open along strike and downdip.
NTI – Neurotech International Limited today closed up 12% to finish at 8.4c on $600k stock traded. There was no news out today but yesterday they announced positive results for the double-blind, placebo-controlled Phase II/III NTIASD2 clinical trial for children with autism spectrum disorder (ASD).
NTI continues to see further significant improvements in ASD patients who received NTI164 following the primary endpoint analysis at 8 weeks as previously reported.
At 12 weeks, NTI164 patients showed a mean CGI-S score of 2.42, representing a 56% improvement from baseline with children re-classified under this scale as borderline ill.
ALA – Arovella Therapeutics Limited today closed up 11% to finish at 15.5c on $470k stock traded. There was no news out today but roughly a month ago they announced the completion of process development and scale up for manufacture of its lead product ALA-101.
The modular, semi-automated process is suitable for large-scale manufacturing and produces a high yield of Chimeric Antigen Receptor (CAR)-positive iNKT cells with very high purity.
Arovella can now proceed with engineering and good manufacture practice (GMP) batches to produce material for phase 1 clinical trials.
TLX – Telix Pharmaceuticals Limited today closed up 10% to finish at $19.39 on $131m stock traded. The reason they were up today was because they announced a proposal was made from the Centers for Medicare & Medicaid Services (CMS).
CMS has proposed to improve payments for diagnostic radiopharmaceuticals for Medicare patients in the U.S, facilitating continued patient access after transitional pass-through payment status expires.
Under the proposed changes, diagnostic radiopharmaceuticals including Illuccix will continue to be paid separately by CMS for traditional Medicare Fee for Service patients in the hospital outpatient setting following the expiry of transitional pass-through payment status.
What’s Not
WA1 – WA1 Resources Limited today closed down 9% to finish at $17.07 on $16m stock traded. The reason they were down today was because they announced an institutional placement to raise $60m @ $17 through the boys and girls at Canaccord Genuity & Bell Potter Securities.
The funds raised will primarily support activities at the Luni discovery, and the broader West Arunta Project including ongoing mineral resource and extensional drilling, process test work and flowsheet development, permitting and project development activities.
Shareholders wouldn’t be too disappointed with the raise considering the share price was trading at around $15 a few weeks ago and a 70% premium to the last placement of $40m @ $10.
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).