What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – EME, EMD, LRL, SGI, M2R & TGM
What’s Not – CRN
What’s Hot
EME – Energy Metals Limited today closed up 29% to finish at 9c on $570k stock traded. The reason they were up today was because yesterday after market they announced drill results from its Bigrlyi Uranium Project located in the NT.
They drilled two drill holes that intersected multiple zones of high-grade uranium including 10.6m @ 0.86% eU3O8 from 529.1m downhole & 5.3m @ 0.61% eU3O8 from 488.9m downhole.
Drilling was aimed at growing the uranium resource which currently sits at 6.32Mt @ 1530ppm for 9.66Kt (21.3 Mlbs) contained U3O8 using a 500ppm cut-off.
EMD – Emyria Limited today closed up 28% to finish at 4.6c on $140k stock traded. There was no news out today but on Monday they announced interim clinical results from analysis of its MDMA-assisted therapy (MDMA-AT) for post-traumatic stress disorder (PTSD) program.
All eight patients who completed the comprehensive program demonstrated substantial improvement in patient outcomes at the end of their active treatment.
Clinically and statistically significant improvements were observed in PTSD symptoms & quality of life respectively, highlighting the program’s potential to address significant unmet needs in PTSD care.
LRL – Labyrinth Resources Limited today closed up 18% to finish at 2c on $150k stock traded. There was no news out today but last month they announced exploration results from the Comet Vale Project located in WA.
LRL collected 11 rock chip samples from Comet Vale with returned highlights of 63.1g/t Au, 3.27 % Cu & 59g/t Ag.
More than 500 soil samples were samples with elevated Au (up to 0.86g/t Au), Cu, W, Zn (up to 1365ppm Zn) and Ag from the Lady Mac and Coonega prospects.
SGI – Stealth Group Holdings Limited today closed up 17% to finish at 35c on $760k stock traded. There was no news out today but last week they released its full year results which highlighted a 2.4% growth in revenue to $113.7m.
SGI had also delivered record net profit of $1.4m (50.2% increase) along with a 33% reduction in debt to $4.9m.
Short-to medium growth outlook remains positive supported by the acquisition of Force Technology that will contribute $45m of new sales in FY25.
The industrials division also continues to benefit from the breadth and diversity of its business and resilient end markets, particularly in mining, resources and infrastructure.
M2R – Miramar Resources Limited today closed up 15% to finish at 1.5c on $230k stock traded. There was no news out today but last week they announced the grant of the Chain Pool tenement located in the Gascoyne region of WA.
An initial reconnaissance fieldtrip to the Joy Helen prospect within the tenement returned high-grade rock chip results of up to 5.49% Cu, 42.0% Pb & 73.48g/t Ag.
Combined with historic sampling, the high-grade copper, lead and silver mineralisation at Joy Helen has been seen over approximately 700m of strike.
M2R is completing the maiden drilling program at the Mount Vernon and Trouble Bore Projects within its Bangemall Ni-Cu-Co-PGE Project portfolio.
TMG – Trigg Minerals Limited today closed up 15% to finish at 1.5c on $500k stock traded. The reason they were up today was because they announced an exploration update for its Drummond project located in northern QLD.
Economic grades of antimony (up to 2.3% Sb) have been discovered in the epithermal gold and polymetallic mineralisation at Police Creek, near Mt Coolan in the Drummond Basin.
TMG also considers its recently acquired Bosworth & West Ravenswood Projects prospective for orogenic and intrusion-related mineral systems hosting gold-copper-molybdenum, base metal and potentially low-temperature epizonal gold-antimony systems.
What’s Not
CRN – Coronado Global Resources Limited today closed down 16% to finish at 92c on $18m stock traded. The reason they were down today was because they announced an updated guidance for FY24.
During the month of August, CRN’s Curragh Complex was negatively impacted by required mechanical repairs to the overland conveyor & subsequent rainfall levels more than 3 times the 10-year monthly average for the area.
To mitigate the weather impacts to production, Coronado plans to temporarily idle an additional fleet at the Curragh Complex to reduce costs.
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).