It should be noted that the company has not independently validated the historical exploration results and they have not been reported in accordance with the 2012 JORC Code. However, DY6 adds that nothing has come to its attention that causes it to question the accuracy or reliability of the assays.
A fieldwork campaign is planned once an exploration licence for Tundulu has been granted, so the market will be keeping a close eye on what DY6 can uncover with its own exploration campaign.
Last week, this column pointed out the merits of nearology and the difference a good neighbour can make to a company’s share price.
So, it seems almost a natural progression that Forrestania Resources roared into second place on the Bulls N’ Bears runners list after a stock hike of 289.47 per cent – a surge that would have probably claimed gold in any other week. Its shares jumped from a previous close of 1.9c to touch 4.6c after it acquired 100 per cent of Netley Minerals.
Netley held one exploration licence and the rights to explore and mine iron ore on two other contiguous exploration licences in Western Australia’s Yilgarn region – directly next door to Mineral Resources’ Koolyanobbing iron ore operations.
You could say that the acquisition sparked a bit of interest on the ASX … more than 108.5 million bits of interest considering that was how many shares changed hands following the deal. And it kept going – albeit not at quite the same level as the opening day.
More than 13.5 million shares were traded on Wednesday, another 9.4 million yesterday and, at last glance, nearly 44 million today.
Forrestania, clearly getting straight to the point, is calling its latest acquisition the Koolyanobbing Fe project. Management says its strategic location is in close proximity to the established MinRes facilities, including rail and mine infrastructure, potentially providing synergies and lowering future capital and operational expenditures.
Using data analysis to produce 3D predictive models, Netley has previously identified seven high-priority targets within the Kooly Fe South prospect, with confirmed banded-iron formation trends that will be a focus of immediate follow-up exploration for Forrestania.
Speaking of 3D, technology company Nanoveu took out the bronze in this week’s list of runners, with a share price hike of more than 155 per cent. From a previous close of 1.8c to touch 4.6c during the week, the innovator signed a binding heads of agreement with South Korea’s Rahum Nanotech for exclusive distribution rights to Nanoveu’s EyeFly3D technology in the South-East Asian nation.
EyeFly3D is described as a proprietary film and software combination that allows users to experience 3D without the need for glasses on everyday mobile handheld devices and other digital displays.
Nanoveu’s EyeFly3D is described as a proprietary film and software combination that allows users to experience 3D without the need for glasses.
The deal with Rahum gives Nanoveu exclusive selling rights in South Korea for a period up to the end of 2026, which is subject to meeting minimum purchase order targets of almost $17 million by the end date, in addition to smaller targets of $10.5 million by the end of 2025 and $1.5 million by the end of this year.
Nanoveu products to be sold under the deal include its Glasses Free 3D hardware films for tablets, phones and large digital displays, in addition to a range of 3D companion applications and related peripherals.
The technology sounds amazing!
It is based on taking a regular plastic film and engineering some half a million uniform-sized mini lenses onto its surface, turning the plastic into an add-on screen protector that produces 3D content on mobile devices. The film has the added bonus of not affecting the touch sensitivity or regular display of the smartphones.
The technology means not having to use 3D glasses or those expensive 3D televisions and the company has already received South Korean purchase orders worth $500,000 for this quarter.
Despite being a tech-head columnist who is not supposed to add any social or economic commentary on an ASX-listed company – this looks really cool and could be the start of a beautiful relationship for Nanoveu.
Coming full circle for this week’s list of Bulls N’ Bears runners is DeSoto Resources, which narrowly missed out on a podium finish with a share price hike of more than 123 per cent. Its stock leapt from 7.6c up to 17c following the acquisition of the Spectrum project in the Northern Territory.
Spectrum sits in the Pine Tree region of the Top End where historic drilling delivered some ridiculous figures for rare earths.
Sound familiar?
Previous diamond and RC drilling back in 2010 revealed a 50m hit going 1.55 per cent TREO from 245m including 6m at a peak grade of 6.55 per cent TREO from 248m. And it wasn’t just a one-hit wonder.
Additional highlights show 21.9m at 2.55 per cent TREO from 276m including 9.2m at 3.78 per cent from 288m, while a third hole produced 17m grading 1 per cent TREO from 254m including 1m reading 6.42 per cent TREO from 254m. Management says the rare earths mineralisation also has associated gold and silver within sulphides and is sitting under 50m to 100m of cover.
DeSoto has plans in place for ground gravity and fixed-loop electromagnetic surveys across its new plot and is committed to 3500m of reverse-circulation (RC) and diamond drilling within the first 15 months.
Could rare earths be back after the commodity made a big splash back in 2022? We will have to wait and see.
But with significant market interest in two companies with a relatively new investment in rare earths projects in this week’s list of runners, the tide may well be starting to turn.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au