What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – DXN, LRL, AAU, MTH, IVR, AZY, LRV, USL & OSM
What’s Not – ENV
What’s Hot
DXN – DXN Limited today closed up 42% to finish at 9.2c on $420k stock traded. The reason they were up today was because they released a FY24 results and outlook presentation which highlighted a 64% increase in revenue to $10.8m.
Modular data centre order intake for manufacturing was $12.6m, an improvement of 202% on FY23.
This included the largest order in DXN’s history from East Micronesia Cable System (EMCS) for circa $5.7m, EMCS is their first order from a global internet company.
LRL – Labyrinth Resources Limited today closed up 37% to finish at 2.6c on $480k stock traded. The reason they were up today was because they announced a review was completed at its Comet Vale & Vivien projects located in WA.
Vivien Main remains underexplored with substantial intersections including 5.4m @ 12.6 g/t Au from 120.6m & 17m @ 8.54 g/t Au from 101m.
Ramelius (RMS.asx) ceased mining at Vivien in early 2023, over 8 years RMS mined 1.5Mt at an average grade of 5.68g/t Au for 260koz Au.
LRL has identified a large number of promising targets at Vivien from historic drill information compiled.
AAU – Antilles Gold Limited today closed up 25% to finish at 0.5c on $410k stock traded. The reason they were up today was because they announced metallurgical results from its La Demajagua open pit mine located in Cuba.
BGRIMM, which is a leading Chinese engineering group specialising in the design and construction of roasters to oxidise refractory gold concentrate, carried out the test work over a 9-month period.
BGRIMM determined a 77.9% antimony recovery from alkaline leaching of the ~53,000tpa of gold-arsenopyrite concentrate with 4.9% antimony content expected to be produced after reverse flotation of the ore.
MTH – Mithril Silver and Gold Limited today closed up 19% to finish at 12.5c on $180k stock traded. The reason they were up today was because they released a presentation which highlighted recent assay results from its district scale Copalquin project located in Mexico.
With 100 historic underground gold-silver mines and workings, plus 198 surface workings/pits throughout 70km2 of mining concession area, Copalquin is an entire mining district with high-grade exploration results.
The target 1 area (El Refugio) was drilled to test mineralisation and extend the underground resource which returned intercepts of up to 17.95m @ 5.16 g/t gold, 78.0 g/t silver from 265.55m.
El Refugio already hosts a high-grade gold-silver JORC resource of 529koz AuEq @ 6.81 g/t AuEq which is supported by a conceptional underground mining study.
IVR – Investigator Resources Limited today closed up 15% to finish at 3.9c on $170k stock traded. There was no news out today but last week they announced assay results from its joint venture tenements in the Stuart Shelf, South Australia.
The JV reported assay results of up to 11m @ 1.2% Cu from 59m, they are now advancing approvals to undertake further diamond drilling & soil sampling.
IVR has also commenced drilling at its Paris Silver project located in South Australia, Paris currently contains a 24Mt @ 73g/t Ag & 0.41% Pb for 57Moz Ag & 99Kt Pb.
IVR is currently undertaking the work required to complete a definitive feasibility study for its Paris Silver Project also located in South Australia.
AZY – Antipa Minerals Limited today closed up 14% to finish at 1.6c on $830k stock traded. The reason they were up today was because they announced the sale of its 32% interest in the Citadel Joint Venture Project to Rio Tinto for $17m.
There are no regulatory approvals required meaning that subject to satisfying the limited conditions precedent, the transaction is expected to complete by November.
Post transaction, AZY will hold $23m in cash with is intended on progressing its exploration program at its 100%-owned Minyari Dome Project located in WA.
This will include drilling programs in conjunction with development appraisal related workstreams along with working capital requirements.
LRV – Larvotto Resources Limited today closed up 14% to finish at 44c on $5m stock traded. There was no news out today but on Monday they announced The Bank of Nova Scotia and its controlling entities had become a substantial shareholder.
There were more than 16.4m shares (5.31% interest) purchased on market from the 19th of August to just last week, with purchase prices ranging from 24.5c to 40.3c.
Yesterday they released a change of substantial shareholding which revealed Nova Scotia had purchased a further 4.34m shares on market from 34c to 40.5c.
Last month, LRV announced the receipt of final drilling permits for its Hillgrove Project located in NSW.
USL – Unico Silver Limited today closed up 11% to finish at 19.5c on $260k stock traded. There was no news out today but last month they announced the acquisition of the Joaquin and Cerro Puntudo projects located in Argentina.
Joaquin contains a historical foreign estimate of 16.7Mt @ 136g/t silver equivalent (AgEq) for 73Moz AgEq (68Moz Ag, 64koz Au) and is strategically located 60km from its Cerro Leon resource.
The Cerro Leon mineral resource estimate currently stands at 16.47Mt @ 172g/t AgEq for 91.3Moz of contained silver equivalent.
USL is planning a comprehensive exploration program on four advanced prospects, aiming to boost current foreign estimates and publish a maiden JORC mineral resource estimate (MRE).
OSM – Osmond Resources Limited today closed up 10% to finish at 21.5c on $200k stock traded. There was no news out today but last Friday they announced an agreement was executed to acquire up to 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
ENV – Enova Mining Limited today closed down 27% to finish at 1.1c on $500k stock traded. The reason they were down today was because they announced assay results from its CODA North tenements located in Brazil.
Drilling intersected up to 18m @ 4,447 ppm TREO (total rare earth oxides) along with titanium hits of 58m @ 10% TiO2.
The next phase of resource definition drilling will focus on expanding and refining the known high-grade REE mineralised zones identified using recent assays.
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).