Rat’s Rant – The German Late Night Blitz Edition


What’s Not – PXS & HMX

What’s Doing – The Great Unwashed Protesters

Closet to the Pin – Leader board update and zero commentary  
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Good Afternoon,

Did you know that on this day in 1940 Germans began the blitz over London.

The Germans began strategically bombing the United Kingdom and London on this day.

For 57 days, the German Luftwaffe aerially bombed London, killing over 20,000 people and destroying over a million homes in the city.

The strategy lasted until May 1941 but did not succeed in breaking British resolve, no wonder they want Brexit. 
What’s Hot  
GLA – Gladiator Resources Limited today closed up 100% to finish at .5c on $4.3m stock traded. There was no news out today and nor has there been since last week when they announced that they discovered some gold mineralisation at their Marmia project over in WA. 
They were handed a speeding ticket just after lunch due to share price with volumes, so the Constable or the ASX were busy at it again today.

Surprise surprise the company stated they were not aware of any information that wasn’t already public.  
Some details on the Marmia project are listed below:
Marymia Aircore Drilling Identifies Gold Mineralisation 
 Gladiator completes 1922m aircore drill programme at its Marymia gold project. Drilling confirms and delineates gold anomalies Follow up drilling required.  
Gladiator Resources Ltd, is pleased to provide results of the recently completed aircore drill programme at its Marymia gold project located in Western Australia. The Marymia Gold Project in Western Australia comprises granted exploration license E52/3104 located at the north east end of the ~50km long Plutonic Greenstone Belt.

The Plutonic Belt hosts the world class Plutonic and Marymia gold mine centres some ~45km and ~10km to the south west. 
The Company completed 31 holes for 1,922 meters of aircore drilling with the program designed to test strike extensions to the NE tenement corner and south of anomalous MHRB008 in order to assess the southern greenstone margin. Drilling was also designed to extend mineralisation to the SW of historic wide spaced RAB anomalism. 
The aircore drilling confirmed and identified gold anomalism along the southern greenstone areas and to the NE tenement corner. Aircore drilling did not extend anomalism to the SW of historic wide spaced RAB holes. 
Grades reported were low but confirm the presence of gold mineralization and the Company will undertake further analysis of results and geology before determining the next steps for this project. 
AOA – Ausmon Resources Limited today closed up 100% to finish at 1c on $1.3m stock traded. The reason why they were up today was because they announced that the RC Drilling Program is commencing at EL 8747 Stirling Vale targeting cobalt, zinc and gold.

I do own stock in this one, know the chairman who might even read this tonight who we will call Boom Boom to keep him anonymous.

I just hope the wait is worth it Boom Boom as this has been a lobster pot or a Hotel California trade for the last 12 months for me as I am sure you will agree.     

Some details on today’s news are listed below:


Planned 10 holes totalling 1,200 m RC drillingTargeting 1.5 km zone at 50 m and 100 m vertical depth for cobalt, zinc and gold

Ausmon Resources Limited is pleased to advise that the RC Drilling Program is commencing at EL 8747 Stirling Vale targeting cobalt, zinc and gold.

10 holes totalling 1,200 m are planned in a 1.5 km zone along the western limb of the Stirling Vale Synform. Completion is expected this month with the results next month. 

Cobalt mineralisation within the PI2 zone that outcrops as a discontinuous ridge over 1.5 km of strike with surface assays to 216 ppm cobalt (ASX announcement 15 January 2020). Holes SVRC001 and SVRC002 will test this targeted area at 50 m vertically below the surface.

Cobalt associated with pyritic albitic gneiss (up to 20% pyrite). The pelite above the cobalt one has an increased % of magnetite which will be a good marker horizon when exploring for the cobalt mineralisation.

Base metal in pyritic metasediments comprising quartz and gahnite and with similarities to the Broken Hill Lode System. Assays in the area comprise 2 m @ 700 ppm zinc and up to 6% pyrite.Gold based on the findings of resampling of Pasminco’s 1995 hole DD95STV3 of 1.2 m @ 0.9 ppm Au.

I would with Boom Boom….maybe even take the AOM from our office too !!
SBR – Sabre Resources Limited today closed up 80% to finish at 1.8c on $12.3m stock traded. There was no news out today and nor has there been since last Tuesday when they announced that Pegasus Airborne Systems Pty Ltd has completed the airborne magnetic survey and released the data together with an unprocessed aeromagnetic image to Sabre.

Hopefully a few of you read about it last Tuesday when it was mentioned in here and trading at less than half a cent.   
They were also issued a speeding ticket with no explanation for the stock price movement other than the belief that the stock price rally had been caused by investor interest in the potential of the tenement to hold a gold resource which was mentioned above and last week for that matter.
Some details on last week’s news are listed below again for those that missed the first three bhags:

Interpretation of Aeromagnetic Survey at Bonanza Gold Project Underway to Finalise Drill Targets
Sabre Resources Limited is pleased to announce that Pegasus Airborne Systems Pty Ltd has completed the airborne magnetic survey on Exploration Licence E57/1125 (Bonanza Gold Project) and released the data together with an unprocessed aeromagnetic image to Sabre.

The data has been forwarded to Sabre’s geophysical consultants for more detailed processing and imaging followed by a lithostructural interpretation to finalise targets for drill testing.

The detailed aeromagnetic survey was conducted over a priority structural target area of 2km by 3km in the northeast corner of E57/1125, with a line spacing of 20m for a total of 300-line kilometers.

The northeast corner of E57/1125 is approximately 500m from the tenement boundary of Ramelius Resources and 800m from the Penny West discovery. 
The quality of the data is substantially better than expected with the unprocessed image revealing in fine detail the complexity of the geology in the target area.

Significantly it has indicated the presence of west-northwest trending structures that may represent fault splays off the Youanmi Fault Zone that hosts the Penny West Mine. A full analysis and interpretation of the data is now underway. Results will be reported as soon as they are available. 
WCG –  Webcentral Group Limited today closed up 55% to finish at 17c on $1.6m stock traded. The reason why there were up today is because they announced the terms of a non-binding indicative proposal by 5GN to to acquire all of their shares they don’t already own in WCG.

This offer would value WCG at 17.7c based on 5GN’s closing share price on Thursday which implies an equity value of WCG of approximately $21.6m however will need shareholder approval.

I know uncle Joe Joe from 5GN and will be chatting with him tomorrow.

Those that read this would also know the 5GN story as it has put on around 10 bhags since we first mentioned it in the What’s Doing section not long after they listed in Nov 2017.    
Some details on today’s news are listed below:

Proposed Acquisition
Webcentral Group Limited has announced today the terms of a non-binding indicative proposal given by 5GN to WCG (5GN Proposal) to acquire on an agreed basis all of the shares on issue in Webcentral. 5GN notes that the Board of WCG has advised that they consider the 5GN Proposal to be a Superior Proposal to the Web.com Proposal.
A summary of the key terms of the 5GN Proposal including defeating conditions are set out in the WCG Announcement. The 5GN Proposal remains subject to agreement of a bid implementation agreement between 5GN and WCG. 
The implied price set out in the 5GN Proposal is 17.7 cents per WCG share (based on 5GN’s closing share price on Thursday, 3 September 2020) (Offer Price) which implies an equity value of WCG of approximately $21.6 million. 
As set out in the Investor Presentation 5GN released to ASX on Friday 4 September 2020: 

In a scenario where the businesses are combined, 5GN expects that it can generate synergies across both businesses of over $7 million per annum on a run rate basis. 

On a strategic shareholding basis where 5GN does not hold 100% of WCG, 5GN expects that it can generate synergies across both businesses of over $3 million per annum on a run rate basis. 

The proposed acquisition is expected to be transformational for 5GN’s earnings, with earnings per share of 5GN expected to more than double on a pre-synergies basis, and further increased on a post-synergies basis. 

The Offer Price represents an attractive and significant premium compared to the offer of 10 cents per WCG share available to shareholders in WCG under the Scheme of Arrangement proposed by Web.com Group Inc. (Web.com) (Web.com Proposal) as announced on 13 July 2020. 5GN has acquired 10.1% of the shares in Webcentral.

5GN confirms that it does not intend to vote its 10.1% interest in Webcentral in favour of the scheme with Web.com
WCG stated in its Announcement that “Keybridge Capital Limited, whose last public disclosure indicated that it had a 9.24% economic interest in WCG shares (comprising 5.94% by way of physical holding and 3.3% by way of a cash settled swap), has also advised WCG that Keybridge “presently intends” to vote against the Scheme”.
FFR – Firefly Resources Limited today closed up 38% to finish at 16.5c on $6m stock traded. The reason why they were up today is because they announced that it had found spectacular high-grade gold mineralisation at shallow depths, including a bonanza intercept of 1,439.55g/t from the very first holes drilled.

This was found from their recently acquired Yalgoo Gold Project in Western Australia and I do own stock in it myself after taking some in the recent placement so there you go folks for disclosure.  

Sadly I sold a small amount last week (as I am no Warren Buffet) but have more than enough left to want to see it bhag hard from here and for some of my broking mates like Dickky, Come Over, Me Indian Porn Star & Ivan Milat. 
Some details on today’s results are listed below:
Spectacular gold hits from maiden drill program at Yalgoo 
Bonanza grade intercept of 1m at 1,439.55g/t within a broader zone of 6m at 244.91g/t from outside the historical resource envelope at the Melville Deposit.
Outstanding results received from the first four holes completed as part of the Company’s maiden Reverse Circulation (RC) drill program at the Yalgoo Gold Project in WA. Significant assay results from drilling at the Melville Deposit include: 

6m at 244.9g/t from 50m including 1m at 1,439.55g/t from 51m and 1m at 16.95g/t from 55m, 14m at 1.00g/t from 58m including 1m @ 2.61g/t and 1m @ 3.73g/t, and 2m @ 1.06g/t from 106m to the end-of-hole (in a mineralised porphyry unit) (FMRC0008) 

13m at 3.65g/t from 113m including 4m at 9.19g/t from 119m(FMRC0010) 

9m at 1.32g/t from surface including 1m at 4.76g/t from 7m, 1m at 3.49g/t from 96m, 2m at 1.87g/t from 101m and 1m at 2.66g/t from 105m (FMRC0009) 

4m @ 1.24g/t from 3m and 1m at 5.76g/t from 69m (FMRC0007)  

All of these initial results are from outside the historical resource envelope at Melville, highlighting strong potential to upgrade and grow the resource base at Yalgoo. 

Porphyry intrusives at Melville confirmed as mineralised and strongly implicated as introducing high-grade gold fluids into the rocks of the Yalgoo Gold Project. All four Firefly holes intersected mineralised porphyry, high-grade gold in porphyry-associated quartz veining and/or wide intersections of mineralised porphyry-related wallrock alteration. FMRC0008 also ended in mineralised porphyry at 108m (2m @ 1.06g/t).

Assays from the remaining six holes completed as part of the initial 10-hole, 1,200m RC program expected over the next week. 

Next phase of the multi-pronged, 10,000m drill program set to resume shortly.  

Firefly Resources Ltd is pleased to advise that it has intersected spectacular high-grade gold mineralisation at shallow depths, including a bonanza intercept of 1,439.55g/t, from the very first holes drilled as part of its maiden drilling program at the recently acquired Yalgoo Gold Project in Western Australia. 

The Yalgoo Project is located 175km east of Geraldton and encompasses a 600km2 tenement package covering an entire historic goldfield that has an extensive history of high-grade gold production but has had no exploration for the past 15 years. Firefly recently commenced its maiden Reverse Circulation (RC) drilling program at Yalgoo, with the first round of drilling designed primarily to validate the historical mineral resource estimate over the Melville Gold Deposit and upgrade it to JORC 2012 compliance.

Approximately 1,200m of RC drilling for 10 holes has been completed to date as part of a larger 10,000m multi-stage campaign. Assays have been received so far from the first four holes drilled as part of this initial program, which are reported in this announcement. 

The remaining assays are expected to be returned in the coming week, and the next phase of RC drilling is scheduled to resume shortly. 
LBY –  Laybuy Group Holdings Limited today closed up 30% to finish at $2.05 on $40m stock traded. The reason they were up today was because they listed listed today which would have read about it here on Friday.

LayBuy’s IPO price was done at $1.41 which was raised through Bell Potter and Canaccord giving it a market capital of $246 million with 174.5m shares on issue @ $1.41. 

There is currently $46.1m of cash in the bank and the top 20 has 80 % of the register with some well term Instos i.e BOMBORA INVESTMENT MANAGEMENT and WASHINGTON H SOUL PATTINSON suggesting a tight register but still even Sea World flavour for some liquidity. 

(Dolphins or Flippers or Stag traders or just Pests)  

Laybuy is expected to operate on a long-term average net transaction margin of 2.5% through their BNPL system which sees more than 250k active customers in Australia and NZ on top of 153k users in the UK, the company also had over 5600 active merchants.

Spending limits will be based on the customer’s credit score ranging from $120-$1500 and must make six weekly payments with no interest charged although does charge late fees.

Some Key points regarding their business I see are listed below for those that are interested in knowing more about them:

Allows customers to buy now, pay c.15% of the selling price upfront, and the balance over the following five weeks

Free for customers with no interest to pay

Sign up and credit check in minutes, via the Laybuy smartphone app or website

Simple, quick and low cost to integrate for Merchants

Since official UK launch in February 2019, Laybuy has grown rapidly

Big Merchants and Partners Signing up in the UK

Merchant Partnerships Laybuy has developed a number of strategic partnerships which are aimed at strengthening the business model across multiple high growth sectors, and widening its appeal to different groups of merchants and target consumers. These include JD Sports, the Hut Group, Boohoo Group Plc, Cotton On and others.

Major sporting clubs Laybuy’s relationships with major English Premier League Football clubs are also expected to assist Laybuy to grow awareness of the Laybuy platform, drive customer acquisition and increase revenue and transactional volumes.

Laybuy provides BNPL services for this year’s FA Cup finalist, Arsenal FC’s, online store. Laybuy launched on the Arsenal store in the United Kingdom for merchandise in April 2020 and Australia and New Zealand are expected to launch during the third quarter of 2020.

Laybuy is the official BNPL partner of Manchester United and Manchester City FC in New Zealand, Australia and the United Kingdom.

I don’t Sin nor do I have a Credit Card….true story on both too !!!
MGT – Magnetite Mines Limited today closed up 27% to finish at 1.9c on $5.3m stock traded. The reason I presume they were up today was because they announced a rights issue.

The rights issue gives existing shareholders 1 new share for every 4 shares held at an issue price of $0.01 per share and one listed option for every two new shares subscribed for an exercisable price of $0.05 with an expiry of 29 October 2021, with the boys and girls down at Mahe capital underwriting approximately $4 million.

Funds raised will help the company to accelerate pre-feasibility study work on its flagship Razorback Iron Project and position the company well as it looks to dig up the fundamental value of its large iron ore resources, progressively deliver value to shareholders and for general working capital.

Some details about the rights issue are listed below:

Renounceable Rights Issue to Raise Up To $5.65 Million, Underwritten to $4 Million


1 for 4 Renounceable Rights Issue to raise up to $5.65 million

Underwritten to $4 million by Mahe Capital

Attractively priced at 1 cent per share, a discount of 29% to the last close of 1.4 cents and 27% to the 10-day VWAP of 1.36 cents

For every two shares subscribed, Eligible Shareholders will receive one attaching new listed option exercisable at 5 cents each and expiring 29 October 2021

Directors intend to participate

Shareholders can trade their rights and apply for additional shares, with rights to start trading from Wednesday, 9 September 2020

With the positive results of the selective mining assessments (see ASX release 19 August 2020) and the substantial re-rating of the Company’s value, funds are to be applied to accelerate PFS work.

Magnetite Mines Limited is pleased to announce that it is undertaking a 1 for 4 renounceable rights issue (“Rights Issue”) at 1 cent per share to raise up to approximately $5.65 million (before costs).

For every 2 new shares subscribed, eligible shareholders will receive 1 free attaching new option with an exercise price of 5 cents and expiring on 29 October 2021. The Company will apply for the quotation of the new options on the ASX.
The Rights Issue is partially underwritten to $4 million by Lead Manager and Underwriter Mahe Capital Pty Ltd (ACN 634 087 684) (AFSL 517246) (“Mahe Capital”), with a summary of the material terms of the underwriting agreement annexed to this announcement.

All Directors intend to participate in the Rights Issue.
Funds raised will be used to enable the Company to accelerate pre-feasibility study (“PFS”) work on its flagship Razorback Iron Project and position the Company for steady progress as it looks to monetise the inherent value of its large and well-positioned iron ore resources and progressively deliver value to shareholders, for general working capital and costs of the Rights Issue.

The Company has planned a rigorous and disciplined value optimisation process for the PFS which will deliver an optimal, efficient scope for the project, using experienced external advisors.

The PFS is a comprehensive study of a range of options for the technical and economic viability of the mineral project that has advanced to a stage where a preferred mining method and pit configuration is established and an effective method of mineral processing is determined including a financial analysis based on reasonable assumptions.
RSH –  Respiri Limited today closed up 24% to finish at 21c on $1.34m stock traded. There was no news released today and nor has there been since this time last week when they announced the preliminary results of a clinical study comparing wheezo to the gold standard clinician based stethoscope measurement of wheeze in asthma and chronic obstructive pulmonary disease (COPD) patients in a stable condition in the emergency department or admitted to hospital with an exacerbation of airway disease.

The week prior to the results saw a partnership with the Carlton Football Club AFLW for the 2021 season. 

The partnership announcement will see wheezo supported by the Carlton Football Club AFLW team and bring awareness of the importance of asthma management to the forefront of the community.

Some details on the company are listed below:

Respiri is an e-Health SaaS company supporting respiratory health management. Its world-first technology detects wheeze, a typical symptom of asthma, COPD and respiratory disease to provide an objective measure of airway limitation.

The only platform of its kind, the flagship wheezo® product employs machine learning to provide personalised feedback and education based on the user’s personal health data correlated with environmental factors, and enables the sharing of that data, anytime, anywhere with caregivers, physicians and other health care professionals.

Respiri’s mission is to help improve quality of life for hundreds of millions of children and adults around the world and dramatically reduce hospital admissions and the economic burden of asthma. Respiri Limited’s operations are based in Melbourne, Australia.

Me too sometimes……..
DRE – Dreadnought Resources Limited today closed up 23% to finish at 1.6c on $527k stock traded. The reason why they were up today was because they announced the commencement of the Illaara Gold-VMS-Iron Ore Project.

Drilling will commence at Metzke’s Find which has previously returned high grade gold intercepts of up to 12.8gs a tonne. 

I know Dean, Dr Dre & Santa Clause all of who are involved or on the board and I wish them all good luck with this up coming drill campaign.   

Some details on today’s news are listed below:


A 36 hole, ~3,500m RC drill program has commenced at the Illaara Gold-VMS-Iron Ore Project

Drilling is initially focused at Metzke’s Find (19 Holes, ~2,300m) which will test extensions of previous high-grade intercepts and target additional lodes

Rig will then move to the recently defined Longmore’s Find (17 holes and ~1,200m)

Drilling is expected to be completed in 3-4 weeks with assays expected throughout October 2020

Dreadnought Resources Limited is pleased to announce that a 36 hole, ~3,500m RC drill program has commenced at the Illaara Gold-VMS-Iron Ore Project.

Drilling will commence at Metzke’s Find (19 holes and ~2,300m) which has previously returned high grade gold intercepts including:

MZRC015: 2m @ 12.8 g/t Au from 51m including 1m @ 24.8 g/t Au from 51m
MZRC016: 8m @ 8.1 g/t Au from 84m including 3m @ 21.0 g/t Au from 85m
MZRC017: 13m @ 4.2 g/t Au from 48m including 7m @ 7.5 g/t Au from 51m

Metzke’s Find is defined by ~500m of historical workings and shallow oxide drilling intercepts. Dreadnought has drilled 18 RC holes to date for an average depth of 95m along ~360m strike of the Metzke’s lode.

This drill program will test the extensions of lode mineralisation at depth and to the south as well as testing the shallow oxide mineralisation to the north above previous Dreadnought drilling.
 Once the Metzke’s Find drilling is complete, the rig will move ~10kms north to Longmore’s Find and undertake the first drilling program targeting the three forgotten historical lodes identified by Captain Longmore Gaywood in the 1920s where rock chips recently returned 18g/t Au from a sugary quartz vein similar in appearance and alteration to Metzke’s Find.

 Dreadnought Managing Director, Dean Tuck, commented: “Dreadnought is excited to recommence drilling at Metzke’s Find to follow up on previous significant intercepts. As well, we will kick off the first ever drilling at the recently re-discovered Longmore’s Find. We have an exciting time ahead with drilling and results from Illaara prior to heading up to the Kimberley.”
OAR – Oakdale Resources Limited today closed up 19% to finish at 2.5c on $15.2m stock traded.

This must be the 4th time they have been featured in the past week, they are continuing to rise with no news so congratulations to holders and if you bought it after reading about it in this rag…….you know what I like !!!! 

BNL – Big Star Helium Limited today closed up 17% to finish at 2.8c on $600k stock traded. There was no news out today and nor has there been for a while but those that read this would be aware of my thoughts on them.   

I do have clients that own it, I like it, I like Helium, I like the broker that gave me stock in it who we will call Eddie Groves or Penny Wong to keep them anonymous. 
We did feature these in the What’s Doing section at the end of May, hope you got a few like the Chooks A Grade Flipper & Penny Wong did  – and ya still got them too hopefully boys !!! 

If you would like to know more about these guys make sure you give it a read below, well named edition too:

Some details on what they do and about helium are listed below:
About Blue Star Helium:
Blue Star Helium Ltd is an independent helium exploration and production company, headquartered in Australia, with operations and exploration in North America. Blue Star’s strategy is to provide its shareholders with exposure to multiple high-value helium projects in North America
About Helium:
Helium is a unique industrial gas that exhibits characteristics both of a bulk, commodity gas and of a high value specialty gas and is considered a “high tech” strategic element.

Due to its unique chemical and physical qualities, helium is a vital element in the manufacture of MRIs and semiconductors and is critical for fibre optic cable manufacturing, hard disc manufacture and cooling, space exploration, rocketry, lifting and high-level science.

There is no way of manufacturing helium artificially and most of the world’s reserves have been derived as a by-product of the extraction of natural hydrocarbon gas.

There’s not many Helium memes left…..strange as not many listed Helium stocks I must just be on the right horse for a change maybe !!!! 
OLL – Open Learning Limited today closed up 16% to finish at 37c on $1m stock traded. There was no news out today and nor has there been since they released their half yearly report.

Hopefully some of you remember reading about them not that long ago in the What’s Doing section.

Adam and his team just seem to be chipping away in what I reckon is an exciting space to be in especially during these Peroni times that we sadly currently live in.   

A link to the old report from the What’s Doing section is below for those of you that like reading old news !!! 


Some details on what they do are listed below:  
OpenLearning Limited is a software as a service company that provides a scalable online learning platform to education providers and a global marketplace of world-class courses for learners of all levels. 
OpenLearning’s platform enables the delivery of project-based, social learning to encourage interaction among users and foster a community of collaborative learners.

The company’s unique service provides a complete learning environment for all types of online education – from short courses through to micro- credentials and online degrees. 
With more than 2.17 million learners worldwide across over 8,000 courses provided by 76 education providers, OpenLearning is at the forefront of a new wave of online education delivery. 

Poor old Forset…….or is it Forrest 

Closet or Closest…..sh*t who cares 
What’s Not 
PXS –  Pharmaxis Limited today closed down 17% to finish at 8.1c on $420k stock traded. The reason why they were down today was because they announced the discontinuation of the development of anti-inflammatory for the treatment of patients with moderate-severe non-proliferative diabetic retinopathy. 

The anti-inflammatory was acquired from Pharmaxis in 2015 and Boehringer Ingelheim will now terminate the agreement.

Doesn’t sound good and quite frankly don’t follow and don’t care but good luck to those that do.  

Some details on today’s news are listed below:

Boehringer Ingelheim discontinues development of BI 1467335 for Diabetic Retinopathy

BI 1467335 was acquired from Pharmaxis in 2015 as part of Boehringer Ingelheim’s growing Retinal Health R&D pipeline portfolio.

Boehringer Ingelheim has terminated the agreement with Pharmaxis with 90 days’ notice during which time Pharmaxis can request return of all existing data and intellectual property.

Pharmaxis will continue its development of small molecule amine oxidase inhibitors with a phase 2 study in myelofibrosis due to commence later this year.

Boehringer Ingelheim will continue to advance its comprehensive portfolio of next generation retinal therapy approaches. Boehringer Ingelheim and Pharmaxis Ltd today announced the discontinuation of the development of anti-inflammatory AOC3 inhibitor BI 1467335 for the treatment of patients with moderate-severe non-proliferative diabetic retinopathy (NPDR). BI 1467335 was acquired from Pharmaxis in 2015 and Boehringer Ingelheim will now terminate the agreement.

 In a Phase IIa trial in patients with moderate-severe NPDR, BI 1467335 met its primary endpoint in ocular safety with the treatment being well tolerated. Boehringer Ingelheim decided not to further develop BI 1467335 in this indication based on the lack of a clear efficacy signal and risk of dose dependent drug interactions of the compound in NPDR patients identified in another Phase I study.

 Pharmaxis CEO, Gary Phillips said, “We understand Boehringer Ingelheim’s decision to stop development of BI 1467335 in NPDR based on the risk of dose dependent drug interactions at the dose level that was tested in the Phase IIa trial. Based on recent publications AOC3 remains an important clinical target.

We will review the data collected in more detail to evaluate potential opportunities in other indications that already have supportive pre-clinical data and where the risk of drug interactions are of less concern.

In the meantime, we look forward to the upcoming FDA decision on granting a marketing authorisation for Bronchitol in the US cystic fibrosis market and our focus remains on advancing our anti-cancer pan-LOX inhibitor program into a phase 2 myelofibrosis study following the recent IND approval.”
 Boehringer Ingelheim takes a holistic approach to the development of novel retinal disease therapies, targeting key mechanisms in the pathogenesis of retinal diseases.

By leveraging existing expertise in oncology, inflammation, neurodegeneration, fibrosis and cardiometabolic diseases, the company is building a growing portfolio of next generation retinal therapy approaches in various stages of development up to Phase 2 in macular degeneration and diabetic retinal diseases.
HMX – Hammer Metals Limited today closed down 16% to finish at 3.7c on $530k stock traded. The reason they were down was because they announced broad intersections of copper and associated gold have been reported in the two holes drilled at the Shadow prospect at the Mt Isa East Joint Venture which the market obviously did not appreciate. 

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


Broad intersections of copper and associated gold have been reported in the two holes drilled at the Shadow prospect at the Mt Isa East Joint Venture

Drilling at Shadow outlined a wide mineralised zone associated with the Shadow Breccia and more significantly a silicified magnetite alteration zone on the margin of the breccia. Significant intercepts are:

83m @ 0.13% Cu from 81m including 29m @ 0.16% Cu from 135m in HMSHDD001; and

106m @ 0.10% Cu from 44m including 5m @ 0.23% Cu from 52m in HMSHDD002.

Drilling at Toby identified significant levels of alteration in the drill core accompanied by minor levels of chalcopyrite mineralisation. The strong Electromagnetic (“EM”) conductor targeted by the drill hole remains unexplained

Two drill holes at Koppany intersected visible rare earth mineralisation with the second hole encountering visible chalcopyrite in pyrrhotite-rich stringer sulphide zones with ISCG affinity. Assay results for these holes are pending

An expanded exploration program has been agreed by the Mt Isa East Joint Venture with detailed soil sampling and mapping programs initiated on the broader Mt Philp and Shadow trends

A downhole EM program has been commissioned at all three recent drill targets and will commence immediately

Hammer Metals Ltd is pleased to provide results from its diamond drilling program undertaken on the Shadow and Toby prospects located within the Mt Isa East Joint Venture area (“JOGMEC JV”) and on the Koppany prospect located within Hammer’s 51/49% Joint Venture with Mount Isa Mines.

Two holes were drilled at the Shadow prospect, for a total of 372m and a further hole was drilled at Toby (252m). The drilling at Shadow confirms that the Shadow trend is mineralised and has the potential to host a significant Copper Deposit.

With the presence of a wide zone of copper mineralisation in the first two holes the JV has committed to expanding the work program along the remainder of the 4km magnetic trend and the surrounding Mt Philp areas. This work program will consist of soil sampling and field mapping with the aim of identifying targets for follow up drilling.

Drilling at Toby failed to explain the very strong heliborne and ground EM conductors identified during previous exploration. A downhole EM program is to commence immediately and will be deployed to each of the three targets recently drilled.

The Company has also completed 507m of diamond drilling on the Koppany Copper -Rare Earth Element (“REE”) prospect located to the southeast of the historic Mary Kathleen mine.

The drilling intersected visible REE mineralisation (Allanite) and multiple zones of stringer sulphide mineralisation (of up to 9m in downhole length) composed of pyrrhotite and chalcopyrite.

Hammer anticipates these results being available over the next fortnight.
What’s Doing
This might not be the most popular thing to say and you know what, as this is my canvass and you read it quite frankly I couldn’t give a ……….toss if you like it or not and if you do happen to be one of those great unwashed protesters from last week, please unsubscribe and give yourself an uppercut. 
I am not sure if those hippie protesters who were out last week are aware of a small highly contagious virus called Covid-19 that kills thousands of people worldwide, mainly elderly people like our parents.  
You morons that protested AGAIN especially down in Melbourne are half the reason why that State is in lock-down….and the rest of the world is rooted – only thing that isn’t at the moment is the stock market and me but that will come with time on both fronts.   
Most of those I see at those protests are only interested in stirring up the police – who I might add don’t want to be doing it either or chanting out some ridiculous chants of which half of them don’t even make sense.
You wonder why people think hippies take drugs……FMD !!!
Stay home, wash your hands, follow the rules & don’t be one of those great unwashed protesters from the weekend who have the brain the size of pea, unlike mine which is more pumpkin like when it comes to matters like these.




everday people……..!!!

Trust me I got a pumpkin brain…unlike my boss sadly. 
Closet to the Pin


Fiddy BonesHigh Rollers
1Wally Lewis  (BPH) 430.4%The Growler (TMX) 275.0%

2Seabas Turd (SVD) 428.6%Dickky Kneeham (MSM) 275.0%

3Top Gear (SM8) 371.4%Brian Henderson (CML) 125.0%

4Top Gear (BNL) 366.7%Captain Gaywood (AQI) 106.7%

5Ivan from MAFS (GTR) 300.0%The mad rooter  (AQI) 106.7%

6Rudey (GTR) 300.0%Down the hall to the left  (ABR) 101.2%

7WAZZA  (AYR) 293.3%THE ANALYST (OPL) 100.0%

8Dickky Kneeham,  (MSM) 275.0%JC (IMU) 56.3%9John Paul Young  (EXR) 253.7%CD (ESR) 55.6%10MST (UTR) 250.0%CG (HAV) 52.4%11PC (DRE) 220.0%Thomas the tank engine  (MQR) 35.0%12The Roo Shooter  (VUL ) 190.2%Billy Harrigan  (EMR) 33.3%13Stump (RSH) 150.0%JFJ (360) 31.8%14Brian Henderson (CML) 125.0%The Rodent  (MEU) 27.0%15Alex Revealing (SCI) 125.0%Captain Morgan (BET) 24.0%16PC the orignal  (BC8) 113.5%slippers (BET) 24.0%17Tog gear  (BBX) 112.5%Seabas Turd (ADN) 20.9%18Choice Bro (RTG) 109.3%RnT (XTC) 20.0%19Captain Gaywood  (AQI) 106.7%Old McDonald  (AHL) 20.0%20Pierpont (AQI) 106.7%ML (MBK) 16.1%21DG (LCL) 92.3%Michael Jordan  (MRZ) 8.7%22Hector Turbine (AAR) 81.8%JP (SF1) 0.0%23Queen Elizabeth  (VMT ) 77.0%The Greek Carr (AJC ) 0.0%24PC the orignal  (Z1P ) 68.7%Captain Gaywood (RML) -2.8%25JFJ (HYD) 59.0%Captain Gaywood (TTT) -14.7%26THE ANALYST (KTG) 56.3%Bio Boy (IXC) -15.6%27CD (ESR) 55.6%QF (AU8) -17.9%28CG (HAV) 52.4%Moreton Bay Bug (CBE) -35.3%29JC (RHY) 49.4%Senor Fish  (TD1) -36.8%30PC (ENR) 36.4%Tommy the tank with gas (TD1) -36.8%31VK (KSN) 35.1%The Flash  (PLX) -38.8%32Thomas the tank engine  (MQR) 35.0%WAZZA  (FPL) -40.0%33JFJ (360) 31.8%Beefarmer (BOT) -40.0%34Down the Hall to the right   (CEL) 31.4%Tony Hawk  (TMK) -44.4%35Son of Growler (EQE) 30.8%TOMO  (ARN) -52.2%36Ned’s Folly (MEU) 27.0% 37Captain Morgan (BET) 24.0% 38Luther (ZNO) 20.8% 39Old Unit  (AON) 20.0% 40RB (AQX) 11.4% 41Tony Hawk  (3DA ) 10.7% 42AK (3DA) 10.7% 43TK (3DA ) 10.7% 44JP (SF1) 0.0% 45George Harrison  (CCE) 0.0% 46Gay Dominator (MBM) 0.0% 47TOMO  (TTL) 0.0% 48Captain Gaywood  (RML) -2.8% 49Leesa Left Eye (LKE) -8.1% 50RT (ADD) -8.3% 51RB (SVA) -8.7% 52Old Mcdonald  (QTM) -9.8% 53Choice Bro (QTM) -9.8% 54Elle McPherson (SAU) -11.8% 55Captain Gaywood  (TTT) -14.7% 56QF69 (AU8) -17.9% 57JFJ (RLT) -18.2% 58John’s Gay  (OSL) -23.5% 59n.a. (TYR) -23.7% 60Troppo (SEI) -31.0% 61JP (WZR) -31.6% 62SK (WZR) -31.6% 63Billy Harrigan  (RHT ) -34.1% 64JP (NUF) -34.5% 65Moreton Bay Bug (RFR) -36.7% 66Senor Fish  (TD1) -36.8% 67Beefarmer (BOT ) -40.0% 68Dr Harper  (FPL) -40.0% 69PC the orignal  (NVO) -44.3% 70Tamsyim Lewis  (FRX) -46.3% 71JPPPP (EML) -46.5% 72JFJ (IMM) -53.2% 73Billy K  (CPH) -74.2% 74Slippers (JXT) -75.7%
RANKFiddy BonesHigh Rollers
1Wally Lewis  (BPH) 430.4%The Growler (TMX) 275.0%
2Seabas Turd (SVD) 428.6%Dickky Kneeham (MSM) 275.0%
3Top Gear (SM8) 371.4%Brian Henderson (CML) 125.0%
4Top Gear (BNL) 366.7%Captain Gaywood (AQI) 106.7%
5Ivan from MAFS (GTR) 300.0%The mad rooter  (AQI) 106.7%
6Rudey (GTR) 300.0%Down the hall to the left  (ABR) 101.2%
7WAZZA  (AYR) 293.3%THE ANALYST (OPL) 100.0%
8Dickky Kneeham,  (MSM) 275.0%JC (IMU) 56.3%
9John Paul Young  (EXR) 253.7%CD (ESR) 55.6%
10MST (UTR) 250.0%CG (HAV) 52.4%
11PC (DRE) 220.0%Thomas the tank engine  (MQR) 35.0%
12The Roo Shooter  (VUL ) 190.2%Billy Harrigan  (EMR) 33.3%
13Stump (RSH) 150.0%JFJ (360) 31.8%
14Brian Henderson (CML) 125.0%The Rodent  (MEU) 27.0%
15Alex Revealing (SCI) 125.0%Captain Morgan (BET) 24.0%
16PC the orignal  (BC8) 113.5%slippers (BET) 24.0%
17Tog gear  (BBX) 112.5%Seabas Turd (ADN) 20.9%
18Choice Bro (RTG) 109.3%RnT (XTC) 20.0%
19Captain Gaywood  (AQI) 106.7%Old McDonald  (AHL) 20.0%
20Pierpont (AQI) 106.7%ML (MBK) 16.1%
21DG (LCL) 92.3%Michael Jordan  (MRZ) 8.7%
22Hector Turbine (AAR) 81.8%JP (SF1) 0.0%
23Queen Elizabeth  (VMT ) 77.0%The Greek Carr (AJC ) 0.0%
24PC the orignal  (Z1P ) 68.7%Captain Gaywood (RML) -2.8%
25JFJ (HYD) 59.0%Captain Gaywood (TTT) -14.7%
26THE ANALYST (KTG) 56.3%Bio Boy (IXC) -15.6%
27CD (ESR) 55.6%QF (AU8) -17.9%
28CG (HAV) 52.4%Moreton Bay Bug (CBE) -35.3%
29JC (RHY) 49.4%Senor Fish  (TD1) -36.8%
30PC (ENR) 36.4%Tommy the tank with gas (TD1) -36.8%
31VK (KSN) 35.1%The Flash  (PLX) -38.8%
32Thomas the tank engine  (MQR) 35.0%WAZZA  (FPL) -40.0%
33JFJ (360) 31.8%Beefarmer (BOT) -40.0%
34Down the Hall to the right   (CEL) 31.4%Tony Hawk  (TMK) -44.4%
35Son of Growler (EQE) 30.8%TOMO  (ARN) -52.2%
36Ned’s Folly (MEU) 27.0%
37Captain Morgan (BET) 24.0%
38Luther (ZNO) 20.8%
39Old Unit  (AON) 20.0%
40RB (AQX) 11.4%
41Tony Hawk  (3DA ) 10.7%
42AK (3DA) 10.7%
43TK (3DA ) 10.7%
44JP (SF1) 0.0%
45George Harrison  (CCE) 0.0%
46Gay Dominator (MBM) 0.0%
47TOMO  (TTL) 0.0%
48Captain Gaywood  (RML) -2.8%
49Leesa Left Eye (LKE) -8.1%
50RT (ADD) -8.3%
51RB (SVA) -8.7%
52Old Mcdonald  (QTM) -9.8%
53Choice Bro (QTM) -9.8%
54Elle McPherson (SAU) -11.8%
55Captain Gaywood  (TTT) -14.7%
56QF69 (AU8) -17.9%
57JFJ (RLT) -18.2%
58John’s Gay  (OSL) -23.5%
59n.a. (TYR) -23.7%
60Troppo (SEI) -31.0%
61JP (WZR) -31.6%
62SK (WZR) -31.6%
63Billy Harrigan  (RHT ) -34.1%
64JP (NUF) -34.5%
65Moreton Bay Bug (RFR) -36.7%
66Senor Fish  (TD1) -36.8%
67Beefarmer (BOT ) -40.0%
68Dr Harper  (FPL) -40.0%
69PC the orignal  (NVO) -44.3%
70Tamsyim Lewis  (FRX) -46.3%
71JPPPP (EML) -46.5%
72JFJ (IMM) -53.2%
73Billy K  (CPH) -74.2%
74Slippers (JXT) -75.7%
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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