What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – OSM, TMG, SUM, EIQ & ENV
What’s Not – GED
What’s Hot
OSM – Osmond Resources Limited today closed up 136% to finish at 16.5c on $910k stock traded. The reason they were up today was because 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.
GMR has completed two rounds of exploration including sixteen rock chip samples from outcrops across more than 2kms & three channel samples across the complete layer thickness weighing 150kg to get a bulk sample.
TMG – Trigg Minerals Limited today closed up 27% to finish at 1.9c on $420k stock traded. There was no news out today but yesterday 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.
Trigg is currently drilling at the high priority SW Limey target within the Drummond Project.
SUM – Summit Minerals Limited today closed up 16% to finish at 25.5c on $330k stock traded. There was no news out today but last Monday they announced the commencement of a bulk sampling program at its Equador Project located in northeast Brazil.
The program will provide multiple, large representative samples from across the Equador Project that will form the foundation of the metallurgical test program.
The program will extend to the newly acquired North Equador mining lease which recently returned up to 53% Nb2O5 & 47.17% Ta2O5.
Summit recently completed a magnetic survey on the northern section of the property, this will now be expanded to cover the whole project.
EIQ – Echoiq Limited today closed up 16% to finish at 18.5c on $1.7m stock traded. The reason they were up today was because they announced a placement to raise $7.1m @ 15c through the boys and girls at Ord Minnett.
The funds raised will be used to progress commercialisation activities, product development and to extend its cash runway through the FDA approval process for its Heart Failure solution.
Back on Tuesday, EIQ announced it completed two clinical studies to evaluate the performance of its Heart Failure AI system in detecting new onset heart failure.
The AI-alone detects 86% of heart failure cases (vs 46% in current standard clinical practice), combination of AI and clinical evaluation increases diagnosis accuracy to 97% in high-risk individuals.
ENV – Enova Mining Limited today closed up 11% to finish at 1c on $220k stock traded. The reason they were up today was because they announced drilling results from its CODA North tenements located in Brazil.
ENV has successfully completed 850m of drilling with significant potential REE mineralisation intersected across key target areas.
The maximum thickness of the kamafugite strata (key host rock of potential REE mineralisation) encountered during drilling is up to 70m.
Enova is now concentrating on the next phase of resource definition drilling while they wait for assay results, with a strategic focus on expanding and fine-tuning the potential high-grade REE zones.
What’s Not
GED – Golden Deeps Limited today closed down 38% to finish at 4.6c on $2.8m stock traded. The reason they were down today was because they announced a placement to raise $1.78m @ 5.9c through the boys and girls at PAC Partners & Peak Asset Management.
The funds raised will be used for further drill-testing of key targets at its Havilah Project in the world-class Lachlan Fold Belt Cu-Au Province of NSW.
Back on Tuesday, GED released drilling results which intersected patches of semi-massive copper (chalcopyrite) and zinc (sphalerite) sulphides as well as vein and disseminated sulphides across an 80m zone in the targeted Sofala Volcanics.
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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