It should be noted that historical exploration results have not been independently validated by the company and have not been reported in accordance with the 2012 JORC Code. However, DY6 adds that nothing has come to its attention that would that calls into question the accuracy or reliability of the tests.
A fieldwork campaign is planned once an exploration license has been granted for Tundulu, so the market will be watching closely to see what DY6 can uncover with its own exploration campaign.
Last week, this column noted the merits of Nearology and the difference a good neighbor can make to a company's stock price.
So it seems almost a natural progression that Forrestania Resources rose to second place on the Bulls N' Bears list of runners after a 289.47 percent increase in the stock, a rise that likely would have claimed the gold in any other week. Its shares jumped from a previous close of 1.9c to touch 4.6c after acquiring 100 per cent of Netley Minerals.
Netley held an exploration license and iron ore exploration and mining rights on two other contiguous exploration licenses in the Yilgarn region of Western Australia, directly adjacent to the Koolyanobbing iron ore operations of Mineral Resources.
You could say the acquisition sparked quite a bit of interest on the ASX… more than 108.5 million bits of interest considering that was the amount of shares that changed hands after the agreement And it continued, although not at the same level as on opening day.
More than 13.5 million shares were traded on Wednesday, 9.4 million more yesterday and at last count nearly 44 million today.
Forrestania, clearly getting straight to the point, calls its latest acquisition the Koolyanobbing Fe project. Management says its strategic location is in close proximity to established MinRes facilities, including rail and mining infrastructure, which can provide synergies and reduce future capital and operating expenses.
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 follow-up exploration immediate for Forrestania.
Speaking of 3D, technology company Nanoveu took bronze on this week's list of runners, with its share price up more than 155 percent. From a previous close of 1.8c to touch 4.6c for the week, the innovator signed a binding agreement with South Korea's Rahum Nanotech for exclusive distribution rights to Nanoveu's EyeFly3D technology in the Southeast Asian nation.
EyeFly3D is described as a proprietary film and software combination that allows users to experience glasses-free 3D on handheld mobile 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 agreement with Rahum gives Nanoveu exclusive sales rights in South Korea for a period until the end of 2026, which is subject to meeting minimum purchase order targets of nearly $17 million by the closing date, at more than the smaller goals of $10.5 million by the end of 2025 and $1.5 million by the end of this year.
Nanoveu's products to be sold under the deal include its glasses-free 3D hardware films for tablets, phones and large digital displays, as well as a range of complementary 3D applications and related peripherals.
The technology sounds amazing!
It's based on taking an ordinary plastic film and designing half a million mini lenses of uniform size on its surface, turning the plastic into an additional screen protector that produces 3D content on mobile devices. The film has the added benefit of not affecting the touch sensitivity or normal display of smartphones.
The technology means no need to use 3D glasses or those expensive 3D TVs, and the company has already received $500,000 worth of purchase orders from South Korea for this quarter.
Despite being a tech-head columnist who isn't supposed to be adding any social or economic commentary on an ASX-listed company, this sounds really good and could be the start of a beautiful relationship for Nanoveu.
Coming full circle on this week's Bulls N' Bears list of runners is DeSoto Resources, which narrowly missed a podium finish with a share price increase of more than 123 percent. Its stock rose 7.6c to 17c following the acquisition of the Spectrum project in the Northern Territory.
Spectrum is located in the Pine Tree region of the Top End, where historical drilling delivered ridiculous numbers for rare earths.
Sound familiar?
Previous diamond and RC drilling in 2010 revealed a 50m strike at 1.55 per cent TREO from 245m, including 6m 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 percent TREO from 254 m, including 1 m with 6.42 percent TREO from 254 m. Management says the rare earth mineralization has also associated gold and silver within sulphides and is between 50 and 100 m of cover.
DeSoto has plans for ground gravity and fixed-loop electromagnetic surveys on its new parcel and is committing to 3500m of reverse circulation (RC) and diamond drilling in the first 15 months.
Could rare earths be making a comeback after the commodity had a big breakout in 2022? We will have to wait and see.
But with significant market interest in two companies with relatively new investment in rare earth projects on this week's list of brokers, the tide may be starting to turn.
Is your ASX listed company doing anything interesting? Contact: [email protected]
