Running through my week in review. These are just the main announcements that caught my interest this week. There were many other good announcements but I can't cover them all. There might be some watchlist worthy stocks in this list or other points of interest. Or not. Make of it what you will.
Monday started with a bang.
SOL, BRK - 2 big investment stocks, SOL (Soul Pattinson) and BRK (Brickworks) announced they would be merging. They have cross holdings so this will also simplify their structures. Both were up on the announcement but have dropped back a bit since. Still up significantly on the week. Definitely one for the investment portfolio or watchlist. Charts have largely been in a sideways trend over the last year but over the last decades, they have been solid performers.
FTL - Firetail Resources - announced an option to acquire 2 high grade US Gold projects. Looks like a pretty decent acquisition. Stock was up about 50% on the news, rose on Tuesday as well but has dropped back a bit over the last 3 days. Market Cap $32.68m. SOI around 380m. SP 8.6c. Broke a long term downtrend only to trade in a sideways range. Depending on the chart timeframe, this might now be a breakout or may still be in that trading range. Possibly one to watch.
CDX - Cadiex - announced TGA approval for their medical device. Market unimpressed. Terrible chart, was in a long term downtrend, traded sideways for a while and is not in another downtrend with no bottom in sight. Market cap $17.5m. SOI 448m. SP 3.9c. Interesting news but a stock to avoid.
IIQ - Inoviq Ltd - announced an early ovarian cancer screening breakthrough with their tests. They detected all early stage I and II cancers with no missed diagnoses.They still need to do further validation studies and get regulatory approval prior to commercialisation. Market loved the news with a bounce on the day but the SP has dropped back again. MC $50.2m. SOI around 112m. SP 45c. Uninspiring chart. Could be one to keep on the watchlist as they progress through next steps.
Rest of the week was less eventful.
SLS - Solstice Metals - announced good gold drill results on Tuesday. Market loved it. Market Cap $28m. SOI 104m. SP 27c. Looks like a break out on the charts. They are planning further drilling. Possibly one to watch. Very much a story stock at this stage but the chart has broken out.
LEX - Lefroy Exploration - also announced good gold drill results. Market cap $26m. SOI 248.4m SP 10.5c. Market liked the results. Long term chart is uninspiring. Not particularly interested in the short term chart either. May be one to watch when they start their next drill program.
ELS - Elsight - announced another contract on Wed. Chart is parabolic. Pulled back a bit on Friday. Would like to see a bit of consolidation from here. I've posted on this one numerous times so won't go into more detail here.
COS - Cosol - announced a market update and earning guidance. They provide tech-enable asset management solutions for mining, utilities, infrastucture and defence. Market hated the announcement. Chart is pretty terrible, in a solid downtrend for the last year. SP $107.4m. SOI 182m. SP 59c. At a glance, one to avoid, but with a bit more research, there may or may not be a bottom in sight for the bottom pickers. Not one for me.
PVL - Powerhouse Ventures - only made it on my list because they announced a trading guidance announcing maiden cash profit guidance. They are a very small investment house with fund management products, advisory and other services. Possibly an emerging company? Market Cap $14.4m. SOI 157.8m. SP 9.1c. Bit of a nothing chart. Was trading sideways for a few years, stepped up a range and continued trading sideways in a range. Might be one to watch as an emerging company. Not one for me.
RML Resolution Minerals - halted for a material acquisition. Might be one to watch next week when they announce.
CU6 - Clarity - positive topline results. Commencing next steps to conduct Phase III trial. This one has also been covered to death so I don't think I need to add more here.
DVP - Develop Global - mine owner and mining services business. Released an investor update on Friday. Too many numbers for my brain at the end of the week. They are producing. MC $1.16B. SOI 274.4m. SP $4.23. Great chart since April. On my 5 year chart, I have it trading in a range for the last 4 years. Looks like it has now broken out. Definitely one to check out and keep on the watchlist, imo. Might have to have another go at that investor update this weekend.
EBR - EBR systems - announced their first patient implants for some heart monitor/stimulation things. Market cap $500m. SOI 429m. SP $1.16. Uninspiring chart. Was looking good for the first quarter of this year but has fallen back into the old trading range. Nice story. Nothing else of interest, atm.
G88 - Golden Mile Resources. Announced visible copper in their drill cores. Will announce results in coming weeks. Market cap $7.62m. SOI 544m. SP 1.4c. Fell 22% on the news which surprised me. Seemed like an overreaction but maybe traders were expecting the results already. For a company with such a small market cap, they should do well when they do get the results in a few weeks if they are half decent. Visible copper in 7 out of 10 holes bodes well for them. One to watch, imo.
That was pretty well it. Very big news with SOL/BRK and some weekend homework on DVP for me. Apart from that, some nice stories and a few drill results but this week definitely won't be a contender for the most interesting or inspiring week of the year for me.
