What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – MRQ, TSO, AHK, RFX, AGH, TM1, I88 & LTR
What’s Not – MAY
What’s Hot
MRQ – MRG Metals limited today closed up 67% to finish at 0.5c on $650k stock traded. There was no news out today but last week they announced the completion of Phase 2 exploration at its Shawa Carbonatite Mining Licenses located in Zimbabwe.
Ground exploration returned highly anomalous portable XRF results returned highlights of Phosphorous up to 48,405 ppm (4.84% P), Strontium up to 8,076 ppm, Iron up to 63.25% Fe & Niobium up to 427 ppm.
Back in June, MRQ announced a binding joint venture agreement was entered with Shenzen (SLC) to develop its Mozambique Corridor Sands Projects.
TSO – Tesoro Gold Limited today closed up 21% to finish at 3.4c on $125k stock traded. The reason they were up today was because they announced significant assay results from first-pass drilling of the Ternera East target, which has intercepted a newly identified, thick (+200m), well-mineralised El Zorro Tonalite (EZT) intrusive.
This new discovery is located approximately 300m east of the 1.3Moz Ternera Gold Deposit (Ternera) within Tesoro’s broader El Zorro Gold Project (El Zorro) in Chile, so that’s pretty exciting for Zeff and the team.
I spoke with him briefly this afternoon as today’s news did catch my attention as I have been following it for a long time, plus I would love to get back to Chilie one day and surf Lobos again.
AHK – Ark Mines Limited today closed up 20% to finish at 18c on $120k stock traded. The reason they were up today was because they announced an exploration target for its Sandy Mitchell Rare Earths Project located in North QLD.
The exploration target estimated for Sandy Mitchell is 1.3Bt-1.5Bt @ 1,250ppm-1490ppm monazite equivalent which includes a basket of contained heavy minerals (HM) of 15.6Mt-22.3Mt.
The exploration target is based on mineralisation from surface down to an average depth of ~11m, therefore there is no overburden removal, simple mining and a low environmental impact.
RFX – Redflow Limited today closed up 20% to finish at 11c on $320k stock traded. The reason they were up today was because they announced a memorandum of understanding (MOU) was signed with Stanwell Corporation.
Stanwell is wholly owned by the QLD Government and is a major provider of electricity and energy solutions to QLD, the National Electricity Market and large energy users throughout Australia.
Redflow and Stanwell intend to collaborate on the development and deployment of Redflow’s X10 battery for use in a 400 MWh large-scale project.
The first stage is to conduct an initial due diligence pre-feasibility study for an initial 5 MWh project using Redflow’s new X10 battery at Stanwell’s FEITH near Rockhampton, QLD.
TM1 – Terra Metals Limited today closed up 17% to finish at 8.3c on $1.2m stock traded. There was no news out today but last week they announced a placement to raise $6m @ 6c through the boys and girls at Evolution Capital, who were kind enough to offer us a few.
Terra’s largest shareholder, Tribeca, has committed to subscribe for approximately $941k & directors of the company have committed to subscribe for $174k.
The funds raised will be used to accelerate exploration and development at its Dante Project located in WA.
The exploration will consist of infill and extensional drilling, metallurgical and mineralogical analysis, geophysical surveys & new discovery drilling of magmatic copper sulphide targets.
AGH – Althea Group Holdings Limited today closed up 17% to finish at 2.8c on $69k stock traded. There was no news out today but back in May they announced a binding term sheet was signed with Flora Growth Corporation to form a joint venture (JV).
Flora Growth Corp (US$11.9m market cap) produces organic cannabis oils, cannabidiol infused food and beverage, pharmaceutical grade, medical, and cosmetic-grade derivatives from the cannabis plant.
The joint venture will target the legal US hemp derived delta-9-THC cannabis-infused beverages market which is projected to reach a market value of US$19.06b in 2028.
Peak (AGH’s subsidiary) contributes production and quality expertise, while US-based Flora brings a wealth of sales and marketing experience within the dynamic landscape of lifestyle cannabis in the US.
I88 – Infini Resources Limited today closed up another 13% to finish at 38.5c on $2.3m stock traded. There was no news out today but yesterday they announced exploration results from the Talus Uranium Prospect within its Portland Creek Project located in Newfoundland, Canada.
A maiden soil sampling program has defined a ~235m x 100m zone coincident with a historic radon gas anomaly, 17 samples returned in excess of the upper limit of detection of ~1.18% U3O8.
Infini will now complete re-assaying of the 17 samples above detection limit, a UAV geophysics structural interpretation and urgent fieldwork with an immediate focus on sampling radon gas anomalies at Talus.
LTR – Liontown Resources Limited today closed up 7% to finish at 95.5c on $40m stock traded. The reason they were up today was because they announced its strategic partnership was expanded with LG Energy Solution (LGES).
LGES (A$88b market cap) is a foundation customer and one of the world’s largest manufacturers of lithium-ion batteries.
The companies have executed agreements for five-year US$250m convertible notes (A$379 million), a 10-year offtake extension, and a downstream collaboration agreement.
The collaboration agreement will investigate the feasibility of establishing an Inflation Reduction Act (IRA)-compliant conversion plant to process LG Energy Solution offtake material and potential additional tonnes from any future 4Mtpa expansion.
What’s Not
MAY – Melbana Energy Limited today closed down 17% to finish at 2.9c on $1.1m stock traded. There was no news out today but last Thursday they announced exploration results from its Alameda-3 appraisal well within its Block 9 PSC located onshore Cuba.
Test gauges were opened on variable choke sizes and only 14% of load fluid was recovered.
The well was then shut in to build pressure, however minimal returns were achieved at surface after reopening.
The inability of the well to flow does not fit with previous observations and expectations, given wireline and FMI over this interval indicate substantial good quality conventional pay in addition to the highly fractured pay.
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).