Rat’s Rant – The George Bush Terror Edition

11

What’s Hot – COY, LKE, WFL, SVM, DWS, TTM, VR1 & CRL

What’s Not – BYE & SHO

What’s Doing – ESR    (Aussie Nickel play sub $10m market cap)  

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Good Afternoon,

Did you know that on this day in 2001, American president, George W. Bush declared war on terror.

The global military campaign against terrorism was first declared in the aftermath of the September 11 attacks in the United States.

The phrase was used by president Bush in a speech given to the United States Congress.

Thanks Obama say’s the crowd that’s long the market like me !!!

What’s Hot  

COY – Coppermoly Limited today closed up 79% to finish at 2.5c on $1m stock traded. There was news out today and nor has there been for quite some time so your guess is probably better than mine today.  

Just before lunch today they were issued a speeding ticket with the company stating they didn’t know what has caused the price movement, which is one that I have never heard before. 

Some details on what they do are listed below:

About Coppermoly

Coppermoly Ltd is a mineral exploration adn resource development company steadily advancing an exxciting portfolio of copper/gold projects in the South West Pacfic nation of Papua New Guniea.

Since listing on the Australian Stock Exchange in 2007, Coppermoly’s exploration efforts have been focused on the island of New Britain, where the Company holds extensive highly prospective exploration territory and has had major success in discovering and defining significant copper and gold deposits.

Papua New Guinea has a long history of successful development of major resources projects, being richly endowed with some of the world’s largest copper/gold deposits, including Ok Tedi, Lihir Island, Porgera, Misima, Panguna, Hidden Valley and Frieda River.

The so-called “Pacific Ring of Fire” – the volcanic arc that hosts many of these deposits – extends through New Britain, where Coppermoly holds or has applications in place for a number of exploration tenements.

Coppermoly’s exploration activity currently is focused on two of these prospects: the Nakru copper/gold deposit and the Simuku copper / gold / molybdenum deposit.

She’s still so busy Constable Chapman that I might need to find a new cop !!!

LKE – Lake Resources Limited today closed up 50% to finish at 9c on $11m stock traded. There was no news out today and nor has there been since last week when they announced they were well advanced in producing battery quality lithium carbonate but they were mentioned here last week, so hopefully a few of you have got on board Steve’s little red rocket that I call Lake Resources.  

After market they responded to a price query from the ASX or the great Constable with the company stating they were unaware of any unknown information and Steve failed to make mention of the air time he got in Rat’s Rant recently.

One of these days……

Some details on last week’s news are listed below:

HAZEN WELL-ADVANCED PRODUCING BATTERY QUALITY LITHIUM CARBONATE 

Independent assay laboratory, Hazen, expected to produce initial larger samples of battery-quality lithium carbonate within 15-18 days

Hazen is conducting a thorough analysis to optimize the process for a superior product and is in the bulk precipitation phase at present

Significant step towards independent verification of quality of Lake’s responsibly sourced, high-purity lithium, amid growing demand Clean lithium developer
Lake Resources NL announced today further progress towards the development of sustainable, high-purity lithium, following confirmation that Hazen Research Inc (Hazen), an independent assay laboratory, is well advanced in producing initial larger samples of battery quality lithium carbonate.

Initial samples are anticipated within 15-18 days, with more samples to follow progressively as brines are delivered and processed, according to the Colorado-based company. Hazen is conducting a thorough analysis to optimize the process for a superior product.

The outcome will be beneficial as treatment is commenced of the larger samples in the near future. Hazen is in the bulk precipitation phase, one of the final stages of producing initial larger lithium carbonate samples from the concentrated lithium chloride produced from Lilac’s lithium extraction pilot plant module in California, using brines from Lake’s Kachi Lithium Brine Project.

The first larger samples will be despatched to Novonix Battery Technology Solutions, a Nova Scotia-based independent testing and development laboratory used by recognised battery makers, to produce NMC622- based lithium-ion battery test cells using Lake’s battery quality lithium carbonate.

Under the agreement with Novonix Limited (ASX:NVX), lithium carbonate samples provided by Lake will be used together with commercial battery cathode precursor materials to form an NMC622 cathode and battery (refer ASX announcement 27 August 2020). Novonix is currently developing ‘million mile’ battery technologies with revolutionary anode and cathode materials.

Lake has attracted growing international interest in its efforts to advance direct extraction technology, including an invitation-only presentation to leading German industry officials, together with the recent presentation to the ASX Small and Mid-Cap Conference 2020.

Lake’s Managing Director, Steve Promnitz said:

“It’s exciting to be this close to delivering battery-quality lithium carbonate from a well-regarded lab as Hazen. Hazen has been diligent in seeking ways to optimize the processing to produce better results.”

There’s no red in this Lake today………….

WFL – Wellfully Limited today closed up 42% to finish at 23.5c on $820k stock traded. The reason they were up today was because they announced an update on their agreement with The Hut Group.

On September 16, The Hut Group secured GBP of 1.88 billion which according to Bloomberg is the biggest listing at the London stock exchange in three years but I am not sure who that Bloomberg mob are or how reliable they are. 

I may or may not have seed in THG………………………..I don’t but sounds like I wish I did !!!

I hope some of my Pommie readers do !!! 

Some details on today’s news are listed below:

Wellfully Ltd and The Hut Group

Further to the Announcement lodged with the ASX on 17 September 2020, the Board and CEO of Wellfully Limited would like to elaborate on the following points in relation to The Hut Group (THG).

The Agreement is a Retail Supply Agreement where Wellfully is the vendor/supplier and THG is the seller, as is standard practice for the beauty Industry;

The term of the Agreement is ongoing and non-exclusive to both parties;

Wellfully supplies product to THG at its wholesale selling price, and THG retails this product to its consumers based on its retail selling price;

There are no minimum or maximum quantities and no consideration is payable under the agreement, other than the price paid by THG to purchase product; and

Other than standard industry trading terms and conditions, there are no other material conditions that need to be satisfied.
Wellfully CEO Paul Peros said, “In a context where brick and mortar retail operations are in Covid-19 related difficulties across the globe, Wellfully has focused its commercial strategy on limiting exposure to current adverse market conditions.”

On September 16, THG secured GBP 1.88 billion which according to Bloomberg* is the biggest listing at the London stock exchange in three years, and its shares opened at 20% above the listing value which is a record debut for an IPO over GBP 100M in London since 2018.

Paul Peros highlighted the importance of this for the Company, “With THG, we hope to have secured a deal with one of the largest pure-play beauty e-commerce operators globally.

THG’s recent IPO performance is testament to that. RÉDUIT is a brand just in the process of developing its commercial footprint in a very difficult environment.

In this respect, we will remain very careful in deciding on new product placements. We deem to have made a good decision with THG.”

Let’s hope that’s not Jabba the Hut on the ground after listing !!!

OAR – Oakdale Resources Limited today closed up 35% to finish at 3.1c on $14.2m stock traded. There was no news out today and nor has there been since a fortnight ago when they announced drilling had commenced at their Lambarson Canyon gold project which you would have read about in here.

About a month ago we wrote about them pre drill which you can find below if interested in reading old news like my mate John:

https://bit.ly/3kBBtz6

I am hoping to pin down Chris Gale this week and make him say to me “don’t blush baby” but the investor relations chick isn’t taking my calls.

She thinks I am stalking her but the truth is she’s got good cattle in her yard (stocks) and I just want to talk to the CEO’s and maybe her a little too. 

#pleasetakemycalls

Some details on what they do are listed below:

Oakdale, through its 100% owned Peruvian subsidiary Ozinca Peru SAC, is the owner and soon to be operator, of a CIP Gold lixiviation plant in Southern Peru.

The plant is strategically located in a highly mineralised area, with thousands of small miners in the immediate vicinity, all of whom are potential customers for our processing business. The Company intends to secure supply contracts with many of these miners as source feed for its Chimu Gold Plant.

The Company has also recently signed a  Binding Term Sheet for the acquisition of the Hanai Gold mine and the Burpar Gold concessions covering 1500 hectares.

It is anticipated that, with successful mining and development, these properties in time will sustain a successful mining operation, which will provide source material feed for the expanded processing facility at Chimu.

Oakdale Resources through its option agreement with Alipine Resources (Nevada, USA) is targeting epithermal and Carlin type Gold deposits in Southern Nevada, which jurisdiction is ranked “World Top 3” by the Fraser Institute.

I hope not for Chris the MD and the Investor Relations chick who we will call Taylor to keep her anonymous.  

SVM – Sovereign Metals Limited today closed up 35% to finish at 39c on $1.6m stock traded. The reason they were up today was because they announced that they have tripled the size of their rutile-mineralised footprint to 66km squared.

This drilling has substantially extended the strike length of the rutile-mineralised envelope to over 16km and expanded the width to up to 6km from the previous 7.5km by up to 3km.

It’s not one I follow but some details on today’s news are listed below:

DRILLING TRIPLES MINERALISED AREA AT KASIYA

Sovereign Metals Limited is pleased to announce Phase 7 drill results from Kasiya, the Company’s flagship, large, high-grade rutile deposit in Malawi. This substantial batch of drill-holes has tripled the rutile-mineralised footprint to ~66km2 .

HIGHLIGHTS

Phase 7 drilling has substantially extended the strike length of the rutile-mineralised envelope to over 16km with widths of up to 6km (previously ~7.5km by up to 3km)

Mineralised envelope has tripled in footprint size to ~66km2 (previously ~22km2)

Numerous new areas of high-grade rutile definedThe Phase 7 results include extensional and infill drilling comprising a further 82 hand-auger holes (50 extensional and 32 infill) for a total of 819m. With the inclusion of Phase 7 the total number of holes reported from Kasiya to date is now 233 with 2,298m drilled.

This drilling has substantially extended the strike length of the rutile-mineralised envelope to over 16km and expanded the width to up to 6km from the previous 7.5km by up to 3km.

In terms of area, the mineralised envelope has approximately tripled in footprint size to ~66km2 from the previous ~22km2 . The mineralised envelope continues to remain open along strike to the north and south, and laterally at its widest zone to the east.

A number of the extensional holes were drilled to the east, north and south-east of the core mineralised zone at a nominal 400m x 400m drill spacing and fall within the targeted area for the upcoming Mineral Resource Estimate (MRE).

These extensional holes have provided a significant expansion to the widest, central core zone of high-grade rutile mineralisation. A significant number of high-grade rutile drill intercepts from surface were encountered in these holes.

The infill drilling results continue to show high rutile grades from surface, as expected, with the infill drill holes limited to the central portion of the main resource target area. The Phase 7 drill results continue to show high-grade rutile from surface to as deep as 16m.

Significant rutile enrichment is generally present in the 0-8m from surface range. In most cases, drill depth was restricted by the hand-auger drilling equipment capacity and it is assumed that free-dig rutile mineralisation should continue vertically to the base of saprolite estimated at approximately 25m depth from surface.

These results continue to validate the Company’s geological exploration model and provide a step-change in the potential size of Kasiya. It is now clear that Sovereign’s geological team has the ability to predict, with some accuracy, new areas of rutile mineralisation prior to any on-ground soil sampling or drilling.

If the Company’s geological exploration model continues to hold true regionally, the rutile potential across Sovereign’s exploration licences in Malawi is immense.

DWS – DWS Limited today closed up 30% to finish at $1.17 on $4.7m stock traded. The reason they were up today was because they announced that HCL Technologies were to acquire them in a recommended transaction.

The offered price was $1.23 per share which represents a premium of 36.7% to the undisturbed closing price of $0.90 with an additional $0.03 dividend per share.

Quite frankly I couldn’t give a …….rats as I don’t own any and don’t think any clients do either but I’m sure a few of you do on this list so well done !!!  

Some details on today’s news are listed below:

HCL TECHNOLOGIES LIMITED TO ACQUIRE DWS IN A RECOMMENDED TRANSACTION

Proposed Scheme of Arrangement under which HCL Australia Services Pty. Limited will acquire 100% of outstanding shares in DWS for A$1.20 per DWS share, payable in cash, plus an additional A$0.03 per share dividend as announced to the market on 24 August 2020.

Implied share price of A$1.23 per share represents a significant premium of 36.7% to the undisturbed closing price of A$0.90 (as at 18 September 2020)

Values DWS issued equity at A$162.15 million

Each member of the DWS Board recommends that DWS shareholders vote in favour of the Scheme in the absence of a Superior Proposal and subject to the Independent Expert concluding in the Independent Expert’s Report that the Scheme is in the best interests of DWS shareholders (and not changing or qualifying that conclusion)

As part of HCL Technologies Limited, DWS will leverage HCL’s significant global resources and expertise to offer an expanded platform to its Australian clients

DWS’ largest shareholder, Danny Wallis, intends to vote all shares within his control (which currently represent 42.7% of the shares on issue) in favour of the scheme. 
DWS Limited is pleased to announce that DWS and HCL Australia Services Pty. Limited (HCL) have entered into a Scheme Implementation Agreement under which it is proposed that HCL will acquire 100% of the shares in DWS by way of a Scheme of Arrangement (the Scheme).

HCL Australia Services Pty. Limited is a wholly owned subsidiary of HCL Technologies Limited, which is a listed company on the National Stock Exchange of India (NSE) with a market capitalization that exceeds US$29 billion3 as at today’s date.

Under the Scheme, DWS shareholders will receive total cash consideration of A$1.20 per DWS share (Scheme Consideration) plus an additional A$0.03 per share dividend (Target Permitted Ordinary Dividend). Following implementation of the Scheme, DWS will become a wholly-owned subsidiary of HCL.

Total cash consideration including the dividend values DWS’ issued equity at A$162.15 million. The transaction will be 100% cash funded.

Each member of the DWS Board recommends that DWS shareholders vote in favour of the Scheme at the Scheme meeting in the absence of a Superior Proposal and subject to the Independent Expert concluding in the Independent Expert’s Report that the Scheme is in the best interests of DWS shareholders and not changing or qualifying that conclusion.

Subject to those same qualifications, each DWS Director intends to vote the DWS shares held or controlled by them in favour of the Scheme.

In addition, DWS’ largest shareholder, Danny Wallis, who holds or controls DWS shares which represent 42.7% of the total shares on issue at the date of this announcement, has advised DWS that he intends to vote in favour of the resolutions to be put to DWS’ shareholders to implement the Scheme in respect of all DWS shares controlled or held by or on behalf of him in the absence of a Superior Proposal that remains a Superior Proposal even after giving effect to any matching rights available to HCL under the Scheme Implementation Agreement, and subject to the Independent Expert concluding in the Independent Expert’s Report that the Scheme is in the best interests of DWS shareholders and not changing or qualifying that conclusion.

TTM – Titan Minerals Limited today closed up 24% to finish at 15.5c on $2.8m stock traded. The reason they were up today was because they announced their Jersualem gold project in Ecuador was reinstated to 100% ownership.

Prior to today’s news they already had a 2.1Moz resource, averaging 4.5 g/tonne gold resource inventor at its Dynasty Project and with today’s addition, its resource base has jumped 64%.

As the project was reinstated and not acquired by TTM it means there will be no dilution of equity for the share holders which is a great thing for my client Ivan Milat who has been long these things for quite sometime.  

The boys and girls at The Next Mining boom did a great note on today’s transaction and I will share that link with you below and strongly encourage those that aren’t signed up to do so. 

https://bit.ly/3hLYY6N

I am hoping to really catch up with the IR guru behind this one as I was invited for a briefing tonight by my mate Ivan Milat but he only told me @ 5:30pm after I had got all dressed up that it’s on in Perth and it’s not virtual. 

Hence the late report as I take a long time to get ready !!!  

Some details on today’s news are listed below:

Titan Minerals Jerusalem Gold Project concession in Ecuador reinstated to 100% ownership 

Highlights

100% ownership of the Jerusalem Project in Ecuador successfully reinstated to Titan

Existing resource totals 1.28Moz gold averaging 14.5g/t and 8.6Moz silver at 98g/t in most recent Canadian NI 43-101 compliant mineral resource completed in 2014, comprised of:

Measured & Indicated – 955,000 tonnes @ 13.8g/t gold and 93g/t silver for 423,000oz contained gold and 2.86Moz contained silver

Inferred – 1,775,000 tonnes @ 15g/t gold and 101g/t silver for 856,000 oz contained gold and 5.76Moz contained silver

Historical diamond drillhole dataset of 47 diamond holes totaling 13,383m drilled with multiple undrilled targets identified in surface geochemistry

The Jerusalem concession is located on-trend between the Fruta del Norte deposit 40km to the north and the contiguous land holding of Luminex Resources’ Condor Project

Numerous high grade targets identified but not explored and the system remains open to the north and at depth.

Focus continues to be on expanding the resource at the Company’s flagship Dynasty Gold Project in Ecuador with the commencement of its significant drilling campaign in Q3 2020
Titan Minerals Limited is pleased to report the successful reinstatement of the Jerusalén Concession. Hosted in the same Jurassic age terrane as the Mirador, Fruta del Norte, and Condor deposits, the Jerusalem Gold Project is situated between the latter two deposits approximately 40km south of Lundin’s Fruta del Norte Mine hosting over 13Moz Au resources and the concession is contiguous with Luminex Resources’ Condor project, host to over 5Moz Au resources to the south of the project.

The Jerusalem Gold Project was originally acquired in 2003, whereafter, substantial expenditure from 2003 through 2007 enabled completion of significant exploration activity, resource estimation and preliminary economic study work.

The previous management pledged an expenditure commitment for exploration investment from May 2010 but was prevented from actively exploring the project due to illegal artisanal mining activity.

Issues with artisanal activity were confirmed on the concession and Force Majeure was declared in statutory reporting to the government during periods where activity on the project was temporarily delayed.

In 2015 the previous management approached the government to ask the eviction of the illegal artisanal miners, but without success. In 2017 the Ministry of Mines cancelled the concession on the basis that expenditure commitments had not been met.

Cancellation of the concession was appealed and, in September 2019, resulted in the High Court ruling in favour of the owner, declaring the procedure for cancellation null and void accepting the concession was under Force Majeure due to the ongoing illegal activity in the area.

Titan has been engaged with the Ecuadorian Ministry of Mines since the acquisition of Core Gold in May 2020 and had presented its case to successfully reinstate the concession. The Jerusalem concession has been now reinstated to Titan Minerals with the concession being formally validated and registered late last week.

That was my mate/client Ivan driving down The Esplanade today.  

VR1 – Vection Technologies Limited today closed up 16% to finish at 7.9c on $3.4m stock traded. The reason they were up today was because they announced they secured their first public hospital to trial its augmented reality healthcare solutions.

Italy is the first test market with 1,000 hospitals as the total addressable market and other than that I don’t know too much about them nor do I really give a …….

Some details on today’s news are listed below:

VECTION SECURES FIRST PUBLIC HOSPITAL TRIAL 

Real-time software company Vection Technologies Ltd is pleased to announce that it has signed a first public hospital to trial its Augmented Reality (AR) healthcare solutions.

Highlights:

First hospital trial milestone secured for Vection’s AR Healthcare solutions

Trial to introduce AR solutions in the Italian Model for Risk Management in Healthcare

Trial focussed on AR for endoscopic surgery and EMRS access through wearable devices

Italy first test market with ~1,000 hospitals as total addressable market

Healthcare trial represents a globally scalable opportunity, aligned with ARR commitment

6 months objective: agreement aligned with advancement of solutions across healthcare

Overview: Vection Technologies has signed the initial trial agreement with AORN S.G. Moscati hospital (Moscati) and Luiss Libera Università Internazionale degli Studi Sociali Guido Carli (LUISS Business School). This trial will be critical for the introduction of AR solutions in the Italian Model for Risk Management in Healthcare promoted by LUISS Business School, a national model that operators must adopt to manage risk in Healthcare.

The trial will focus on integrating Vection Technologies’ AR Healthcare solutions, based on FrameS’ technology infrastructure, within the Moscati hospital, focussing on:

Real-time integration of data fields from endoscopic equipment in the surgeon’s field of view, through AR wearable devices. This solution delivers a more precise and safe AR-based navigation system compared to conventional endoscopic procedures.

Real-time integration of electronic medical record system (EMRS) with AR, enabling healthcare professionals to access medical information through AR wearable devices.
With ~1,000 accredited hospitals, of which ~52% public1 , Italy represents the ideal test market for the Company to introduce its real-time healthcare focussed solutions.

The commitment by this first hospital represents a strong advancement of the Company’s strategy across healthcare, aligned with the stated six-months objectives.

Taylor,,,,,,,,,

CRL – Comet Resources Limited today closed up 13% to finish at 2.6c on $550k stock traded. There was no news out today and nor has there been since last week when they announced a streaming agreement with a value of up to US$20m.

The funding would be used for the development of the Santa Teresa high grade gold project in Baja California, Mexico.

I know Matt the boss and he will read this tonight and I promise big fella we will chat this week, especially as I own a few now too !!! 

Some details on last weeks news are listed below:

Streaming Agreement for up to US$20m Finalised Comet Resources Ltd is pleased to announce that is has executed binding documents with Raptor Capital International Limited (Raptor) for the provision of a streaming facility to provide a minimum of US$6m and up to US$20m in funding for development of the Santa Teresa High Grade Gold Project in Baja California, Mexico (Project).

The facility will become available after a certain conditions precedent are met, including Comet making a decision to mine at the Project. For full details of the streaming agreement please see Appendix 1 of this announcement.

Security provided under the streaming agreement will only cover the Santa Teresa Project and associated assets and will not extend to any of the Company’s assets outside of Mexico.

Comet’s Managing Director, Matthew O’Kane, commented “Finalisation of the Streaming Agreement with Raptor provides Comet with non-dilutive capital for the development of a mining operation at Santa Teresa Gold Project.

We are presently working toward upgrading the existing foreign resource estimate at the Project to a JORC compliant resource. Information gained from completing the JORC resource will also assist us in planning the initial exploration activities at the Project, including our first drilling program.”

If I was Raptor Capital and I could throw that kind of money around that would be great too !!!

Hook us up Matty !!!

What’s Not 

BYE – Byron Energy Limited today closed down 33% to finish at 19c on $4.8m stock traded. The reason they were down today was because they announced their SM58 G2 well had been drilled to a final depth and had been deemed non-commercial which in oil and gas terms especially offshore means…..

We are ……….it starts with either a R or a F and they both mean the same thing. 

The drilling results were consistent with a failed geologic seal for the Lower sand fault trap, so tough break for Doug and the boys but I have no doubt they will be back and I do have clients that own them and quite a few too.

So today wasn’t pleasant – it felt like that guy below in the meme !!!   

Some details on today’s news are listed below:

SM58 G2 Well Results

The SM58 G2 well has been drilled to a final total depth of 11,237 feet measured depth (10,233 feet true vertical depth) and has been deemed non-commercial

LWD logs indicate 310 feet of low hydrocarbon saturated sands

The drilling results are consistent with a failed geologic seal for the Lower O Sand fault trap.

Preparations are underway to sidetrack the SM58 G2 well to test the Upper O Sand in the Brown Trout Prospect
Byron Energy Limited would like to provide the following update on its 100% owned and operated South Marsh Island Block 58 G2 (“SM58 G2”) well in the US Gulf of Mexico.

Crews returned to the Enterprise Offshore Drilling 264 jack-up rig on Wednesday, 16 September 2020 (USCDT) after a short evacuation for Hurricane Sally and drilling operations on the SM58 G2 (“G2”) well resumed on Friday, 18 September 2020 (USCDT).

On Saturday, 19 September 2020 (USCDT), the G2 well reached a final total depth of 11,237 feet Measured Depth (“MD”)/ 10,233 feet True Vertical Depth (“TVD”). The G2 well drilled through the primary target section of the Lower O Sand, however, no commercial hydrocarbons were logged with Log While Drilling (LWD) tools. LWD logs across the Lower O Sand section indicated the presence of two sand bodies totalling a gross 310 feet of true vertical thickness.

Like the Lower O Sands observed on mudlogs from the SM58 G1 well drilled in 2019, the Lower O Sands in the G2 well had strong gas shows consisting of both light and heavy gasses while drilling. Non-commercial low saturation residual hydrocarbonbearing sands and several wet sands were observed across the Lower O Sand section based on LWD logs.

The low-level residual hydrocarbon saturation of the Lower O Sand section is responsible for the bright seismic amplitude observed across the Lower O Sand trap and is indistinguishable from higher hydrocarbon saturations on seismic data.

The results of the G2 are indicative of a failed geologic seal for the fault trap at the depth of the Lower O Sands.

There were no Proved, Probable or Possible Reserves attributed to the Lower O Sand in the G2 well, in the Company’s 30 June 2020 Net Reserves and Resources Report released to the ASX on 10 September 2020, which was a Prospective Resource play driven by shows in the 2019 SM58 Byron G1 BP1 well that Byron was unable to log at the time due to hole conditions.

The Company will reassess its Prospective Resources in this portion of the SM58 project in due course.

Yet I still invest in oil and gas stocks….maybe I just like dolphins !!! 

SHO – Sportshero Limited today closed down 11% to finish at 2.5c on $140k stock traded. The reason they were down today was because they released an announcement saying their ‘Olahbola’ app developed in Indonesia had surpassed 750k new users.

I thought it was pretty good news and they were actually trading up early but maybe some rich Indo woke up and smashed a few out into the liquidity. 

Who knows not me but I do quite like the story, got clients that own quite a few and I hope to catch up with Tom too this week for a quick one on one without the dolphin above hopefully.  

SportsHero CEO Tom lapping, believed generating 770k new users in just two months was an amazing achievement, however the market did not seem to think the same.

What I would say to you big fella is don’t be dishearten as a lot of things in this market aren’t making sense right now.  

Some details on today’s news are listed below:

OLAHBOLA SURPASSES 750,000 NEW UNIQUE USERS AS ENGLISH PREMIER LEAGUE AND LA LIGA START 20/21 FOOTBALL SEASONS

HIGHLIGHTS

771,333 new unique users generated on SportsHero’s fully localised Indonesian app ‘Olahbola’ since launch on 7 July 2020

Olahbola leverages SportsHero’s exclusive and valuable La Liga partnership rights and assets, including the upcoming 20/21 La Liga season

Growing user base enhances value proposition to advertising brand partners – revenue generation expected this financial half year

SportsHero has successfully secured a local Indonesian operating entity to facilitate recruitment, sales growth and revenue collection OLAHBOLA – The Indonesian football app for fanatical fans
SportsHero, one of the world’s first social networks dedicated to sports prediction, is excited to announce that the Company’s Indonesian locally branded and fully localised international football app ‘Olahbola’ has today surpassed 750,000 new unique users.

These users have been generated since the official Indonesian launch of Olahbola on 7 July 2020. SportsHero’s CEO, Tom Lapping said: “Generating 771,333 new unique Olahbola users, in just over two months, during the break in the European football season, is an amazing achievement.” “With the recent commencement of both La Liga and the English Premier League on 12 September, we expect continued growth in Olahbola’s user numbers.

This large and growing user base will considerably enhance our value proposition to advertising brand partners. With these foundations in place we expect material revenue generation this financial half year.”

Olahbola is the Indonesian local market version of SportsHero’s platform that was designed and developed in house and delivered to a planned timetable. The app caters to the millions of fanatical Indonesian football fans who follow and support international football leagues, such as the English Premier League and Spain’s La Liga.

The app, which is dedicated to international football, will leverage SportsHero’s exclusive and valuable La Liga partnership rights and assets over the upcoming 2020/21 football season in conjunction with Dugout’s premium content covering these leagues.

What’s Doing

For those that have already read this morning —- Good night and for those haven’t read the below “you’re welcome” is a good pod cast !!!   

This week I caught up with Chris Daws the CEO of Estrella Resources (ESR.asx) and we had a really interesting chat in regard to his new exploration campaign which begun for Estrella at the historic Carr Boyd nickel mine, 80km north-east of Kalgoorlie-Boulder, in the hope of making a new discovery. 

The Carr Boyd nickel mine is known to host unusual secondary nickel species and has a rich history in high grade Nickel yielding, so not a bad idea to go where  it is even an idiot like me knows that. 

The company will continue drilling for the next 2-4 weeks with Mr. Daws stating “It’s said over and over again, the best place to look for nickel is where they’ve already found it,”  thanks Scoop I told him) 

Nickelblodite was collected in 1975 from the bottom of the abandoned open pit, before more could be collected the pit collapsed into a stope.

Estrella got some airtime on the ABC radio recently about their new project which you can find below if you would like to know more about the history of the project. 

It’s aired between 34:00-40:15 minutes….he speaks pretty well !!!

https://ab.co/3c8S3mV

Just last week they announced that a diamond drill hole CBDD028 was designed to test the Carr Boyd layered mafic-ultramafic intrusions contact zone ~25m down dip of the original RC hole CBP042 which intersected 8m @ 1.11% Ni & 0.36% Cu, including 4m @ 1.60% Ni & 0.31% Cu from the matrix sulphide zone.

The core hole was drilled to a depth of 251m and successfully intersected the contact at 165.2m downhole depth, with more results pending from that program & new targets to test which were generated from that program, so there seems to be a lot happening. 

They have 500m odd shares on issue, they are trading at sub 2c and have recently sold another asset giving them more than enough cash to hopefully add some serious value to its current market cap of $10m odd.  

It’s worth DYOR if you are into small cap mining stocks as always in my opinion and I do have client that own the stock. 

Good luck to all involved  !!!  

Including me Mum – she will hate all of that trust me and I will be in trouble tomorrow too !!!

Go Hard…………. but please stay inside most of the time when you are Going Hard 

We are almost there folks, stop fckn shaking hands would you and humping strangers in isolation while you are meant to be working !!!

I can do it and so can you !!!
Nick Kelso
Wealth Advisor | EverBlu Capital

L39, Aurora Place, 88 Phillip Street, Sydney NSW 2000
d: +61 2 8249 0052 | m: +61 404 003 613 
e: nick.kelso@everblucapital.com
w: www.everblucapital.com

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Company announcements/share price data; source – asx.com.au

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.

This report IS NOT personal advice. EverBlu Capital DOES NOT PROVIDE personal advice, EverBlu Capital provides General Financial Product Advice.

All advice included in The Rat’s Rant is General Advice

Please refer to the General Advice Warning below

The views expressed in this report are my views and may not necessarily reflect the same views as Ever Blu Capital.      

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. 

I will always disclose where I own or have bought stock or invested in companies that are the subject of the Rat’s Rant.

I will let you know about it but it doesn’t mean that it is a good buy or a good sell as I am no Warren Buffett and if I was I wouldn’t be sending this out to you would I……. I’d be rich and fat not skinny and poor. 

This report is written by myself, I don’t have the luxury of a large team contributing to this report and on occasions there will be errors, spelling mistakes, poor grammar and incorrect closing prices etc (please refer to the General Advice Warning below)

Please check all the facts yourself and don’t take what I have written quickly between 4 & 10pm everyday as gospel.

Whether you’re a broker or an investor receiving this report, I’m more than happy to receive ideas and feedback from you on any stocks that you think I should be looking at or writing about but please don’t annoy me. 

Please note keyboard warriors will not be tolerated !!!

You might not like what I write or indeed my writing style, no problem,  just email me “Unsubscribe” and I will happily remove you from the list or click the button at the bottom if you’re not lazy and wan’t it done quickly. 

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If you are receiving this from someone else please just send me an email directly and would be happy to add you to my distribution list or just click on the subscribe button above. 

Important Notice
 
This report has been prepared and issued (in Australia) by Nick Kelso in his capacity as an Authorised Representative (AR No: 001265800) of EverBlu Capital Pty Ltd  (ABN 23 612 793 683) (AFS Licence No. 499 601) (“EverBlu Capital”). 
The report remains the property of EverBlu Capital. No material contained in this report may be reproduced or distributed, except as allowed by the Copyright Act, without the prior written approval of EverBlu Capital.  This report is subject to the disclosures and restrictions set out below. 
 
General Disclosure & Conflict of Interest
 
EverBlu Capital and its associates (as defined in Chapter 1 of the Corporations Act 2001), officers, directors, employees and agents, from time to time, may own or have positions in securities of the company(ies) in this report and may trade in the securities mentioned either as principal or agent or may be materially interested in such securities. This may include providing equity capital market services to company(ies) in this report, holding a position in the securities or acting as principal or agent. EverBlu Capital and its associates therefore may benefit from any increase in the price of those securities. EverBlu and its associates may earn brokerage fees, commissions, other benefits as well as fees or advantages from the sale, purchase or dealing of securities mentioned therein.
The Author of this Report, Nick Kelso declares that he has received and will receive in the future, compensation from companies mentioned in this report and EverBlu Capital does and seeks to do business with companies mentioned in the report. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.
                                                                                                                                                                                                                                                                                                                       
General Advice Warning

EverBlu Capital provides General Advice. Nothing contained in the report should be considered Personal Advice. This report may contain General Advice or recommendations which, while believed to be accurate at the time of publication, are not appropriate for all persons or accounts. This report does not purport to contain all the information that a prospective investor may require. Prior to making an investment or trading decision, the recipient must consider market developments subsequent to the date of this document, and whether the advice is appropriate in light of his or her financial circumstances or seek further professional advice on its appropriateness or should form his/her own independent view given the person’s investment objectives, financial situation and particular needs regarding any securities or Financial Products mentioned herein. Information in this document has been obtained from sources believed to be true but neither EverBlu Capital nor its associates make any recommendation or warranty concerning the Financial Products or the accuracy, or reliability or completeness of the information or the performance of the companies referred to in this document. Past performance is not indicative of future performance. 

This document is not an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any Financial Product, and neither this document or anything in it shall form the basis of any contract or commitment. Although every attempt has been made to verify the accuracy of the information contained in the document, liability for any errors or omissions (except any statutory liability which cannot be excluded) is specifically excluded by EverBlu Capital, its associates, officers, directors, employees and agents.  The securities of such company(ies) may not be eligible for sale in all jurisdictions or to all categories of investors.

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Sometimes it feels like I need to disclose to you what I have had for breakfast but anyway and

……..to finish off possibly the worlds longest disclaimer

GO HARD    

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