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What’s Hot – TMK, DEV, ROG, PCL, JBY & C29

What’s Hot, Not & Doing
Brought to you by TSN Contributor & Wealth Advisor Nick Kelso

What’s Hot – TMK, DEV, ROG, PCL, JBY & C29
What’s Not – RAT

What’s Hot
TMK – TMK Energy Limited today closed up 100% to finish at 0.2c on $150k stock traded. There was no news out today but on Wednesday they announced that two of the three recently drilled pilot production wells at the Gurvantes Coal Seam Gas (CSG) Project, have been completed with the successful installation of downhole production tubing, rods, pumps and the DTS fibre optic cable installed on LF-05 and LF-06.

The downhole activity in the final well (LF-04) is currently underway and is expected to be completed within the coming days.

These guys are a Mongolian gas play and if you read the above with some success here it could get exciting given its sub $10m market cap even after today’s rise.

DEV – Devex Resources Limited today closed up 32% to finish at 14.5c on $706k stock traded. The reason they were up today was because the chairman’s AGM address was released to the market (pre open).

They did also get a speeding ticket from the ASX or Constable Chapman today asking them to ”please explain”.

I note the chairman (soon to be reader) Mr Tim Goyder gave the Chairmans address to shareholders which was released premarket this morning – stock was up on volume yesterday too but not like today but imagine something to do what the chairman said.

ROG – Red Sky Energy Limited today closed up 25% to finish at 1c on $550k stock traded. There was no news today but on Friday last week they announced that Santos Limited (STO), operator of the Innamincka Dome project, has mobilised the workover rig to the Yarrow 1 well site.

This re-entry is a critical milestone in the Company’s growth strategy, expected to unlock significant gas production potential and enhance the Company’s future cash flow profile.

This milestone brings Red Sky and Santos closer to completing the re-entry and re-sleeving activities at Yarrow 1, which are aimed at optimising gas flow and improving production efficiency from the well.

PCL – Pancontinental Energy Limited today closed up 22% to finish at 1.7c on $640k stock traded. The reason they were up today was because they announced an update on its PEL 87 prospect which Woodside (WPL.asx) has until 18th May 2025 to decide if they are taking up their option to take a participating interest to be derived from Pancontinental’s 75%.

Woodside Energy may exercise its option to farm in to PEL 87 is 180 days from the date upon which Pancontinental delivers to Woodside an instrument in the form of a Seismic License.

That provides ongoing rights to the PEL 87 3D seismic data for which Woodside funded the acquisition and processing.

C29 – C29 Metals Limited today closed up 14% to finish at 12c on $169k stock traded. There was no news out today and nor has there been since last week when they announced geological work had commenced in Kazakhstan & they were granted a few new tenements too.

Their project in Southern Kazakhstan is approximately 15 km southwest of the Bota-Burum mine, one of the largest uranium deposits mined in the former Soviet Union.

Production of Uranium at the Bota Burum mine next to the village of Aksuyek commenced in 1956 and continued until 1991.

What’s Not
RAT – Yep that’s right me, it’s been a big week for me with Santa’s little helper (wheelbarrow) still over in New Zealand chasing sheep, I have a 2-year-old full time, plenty of work stress market related and as it’s almost midnight on Friday quite frankly again I can’t be you know what.

Plus as I like to remind you folk from time to time you don’t pay to read this so sometimes when Le Rodent can’t be Le F…..D, then sometimes that’s just the way the cookie crumbles.

The kid (big one that is) wheelbarrow is back on deck next Wednesday, so expect a little more from us as it’s much easier doing this each night with some help from him.

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).