What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso
What’s Hot – SLH, NAG, EQN, ADG, ATC, FG1, NAE, 3DA, PSC & GDM
What’s Not – RSG
What’s Hot
SLH – Silk Logistics Holdings Limited today closed up 41% to finish at $2.07 on $6.5m stock traded. The reason they were up today was because they announced a scheme implementation deed was entered with DP World Australia to be acquired for $2.14 in cash.
DP World is a leading provider of end-to-end supply chain logistics solutions, enabling the flow of trade across the globe, the company has over 100,000 employees world-wide.
Silk’s Board unanimously recommends that shareholders vote in favour of the 45.6% premium to the last closing price of $1.47.
NAG – Nagambie Resources Limited today closed up 33% to finish at 2c on $380k stock traded. The reason they were up today was because they announced an updated JORC mineral resource estimate (MRE) for its Nagambie Mine high-grade gold-antimony deposit located in Victoria.
The updated MRE is a result of higher gold prices, much higher antimony prices along with a resultant lower cut-off grade.
Nagambie Mine now contains a MRE of 539Kt @ 18.6g/t AuEq for 322Koz of contained gold equivalent.
EQN – Equinox Resources Limited today closed up 27% to finish at 21c on $480k stock traded. There was no news out today but last week they announced exploration results from its Alturas Project located in British Columbia, Canada.
The maiden exploration program returned rock chip assays of up to 69.98% Sb with some of the world’s highest reported natural stibnite grades.
Stibnite is a typical hydrothermal deposit associated with other sulphide minerals and is the principal source of antimony.
ADG – Adelong Gold Limited today closed up 25% to finish at 0.5c on $120k stock traded. There was no news out today but roughly a fortnight ago they announced a binding farm-in agreement was entered with Great Divide Mining (GDM.asx) for up to a 51% interest in the Adelong Gold Project located in NSW.
The Adelong Gold Project has a storied history of gold production with over 800,000 ounces of gold extracted from the area to date.
The project currently holds a mining lease & exploration lease and contains a JORC resource of 188Koz with strong potential for further expansion through exploration.
ATC – Altech Batteries Limited today closed up 22% to finish at 7.9c on $2.3m stock traded. There was no news out today but last Friday they responded to a price query from the ASX or Constable Chapman after increasing from 4.6c to 6.6c on no news.
ATC responded that they were unaware of any unknown information, however noted that East Coast Research had released a research report on the company.
Last month, ATC announced they achieved a milestone in its Silumina Anodes battery material technology with an average 55% surge in lithium battery anode energy capacity.
FG1 – Flynn Gold Limited today closed up 23% to finish at 3.7c on $100k stock traded. There was no news out today but last Friday they announced an exploration target for its Golden Ridge Project located in Tasmania.
The maiden exploration target estimated for the Trafalgar, Brilliant and Link Zone prospects is 3.5Mt-5.4Mt @ 3g/t-4g/t Au for 449Koz-520Koz of contained gold.
The exploration target is open in all directions and represents less than 30% of the known strike of the 9km gold anomaly.
NAE – New Age Exploration Limited today closed up 20% to finish at 0.6c on $130k stock traded. There was no news out today but late last month they released its quarterly report which highlighted the completion of drilling at its Wagyu Gold Project located in WA.
The Wagyu Project is located in the Central Pilbara’s fast-emerging gold region and adjoins De Grey Mining’s (DEG.asx) tenure containing its ~10.5Moz Hemi Gold deposit.
Multiple drill holes from Phase 1 intercepted or ended in gold mineralisation with intercepts including 3m @ 2 g/t gold, silver was also detected in multiple intercepts.
3DA – Amaero International Limited today closed up 13% to finish at 39.5c on $1.3m stock traded. There was no news out today but roughly a month ago they released its quarterly report which highlighted its first quarter with material commercial revenue.
Amaero reported revenue in excess of $1m which consisted of $600k from powder sales and $450k from powder metallurgy hot isostatic pressing manufacturing.
3DA had completed qualification of C103 AM powder to ADDMAN Group which triggered an offtake agreement of no less than 2.25 tonnes of Niobium C103 at a fixed price.
PSC – Prospect Resources Limited today closed up 11% to finish at 11c on $220k stock traded. There was no news out today but last Tuesday they announced drilling results from the Nyungu Central deposit within its 85% owned Mumbezhi Copper Project located in Zambia.
Phase 1 diamond drilling continues to produce wide, high-tenor intersections of significant copper mineralisation with highlights of up to 36.1m @ 0.95% Cu from 381m.
Prospect has accelerated and expanded the Phase 1 program via the mobilisation of an additional two diamond drill rigs ahead of a maiden JORC mineral resource estimate for Nyungu Central in Q1 2025.
GDM – Great Divide Mining Limited today closed up 10% to finish at 27c on $100k stock traded. The reason they were up today was because they announced a binding farm-in agreement was entered with Adelong Gold (ADG.asx) which you would have read about above already.
GDM intends to move quickly to restart mining and processing at Adelong in order to generate ongoing cashflows for the Adelong Venture.
Testing and commissioning works are expected to start at the Adelong Process Plant during Q3FY25.
What’s Not
RSG – Resolute Mining Limited today closed down 33% to finish at 45c on $43m stock traded. The reason they were down today was because they announced its CEO and two other employees have been detained in Mali by Government officials.
The executives were in Bamako to hold discussions with the mining and tax authorities regarding general activities related to its in-country business practices, and to progress open claims made against Resolute, which RSG maintains are unsubstantiated.
Resolute’s employees are being treated well and the company is in regular communication with all three, thank goodness.
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).