Podium Minerals Limited (ASX: POD)

Found in 1986, POD is an exploration and development company in platinum group metals (PGM), gold and nickel-copper sulfides. Its projects include Parks Reef PGM Project, Exploration and Mineral Resources. Its market capitalization stood at AUD 94.35 million as of 29^th November 2021.

Financial and Operational Updates: On 18^th November 2021, it appointed Ms Hanna Hudson as Chief Financial Officer and Company Secretary. On 10^th November 2021, its Share Purchase Plan oversubscribed by ~50% and raised A$7.56 million from the plan. With an aim of becoming the Australia’s first Platinum Group Metal producer, it commenced its Diamond Drilling of more than 500m below surface at Parks Reef with an exploration target over the full strike length of 3.1 to 5.8 million         ounces 3E PGM within 200m of surface.

As per the Quarterly Update on 21^st October 2021, a substantial increase of ~57% is found in Mineral Resources Estimate has been found. Its sales receipts for 1QFY22 were reported as nil and closed the quarter with a cash balance of ~AUD 2.11 million at the end of 30^th September 2021 versus ~AUD 2.98 million at the end of 30^th June 2021. It reported substantial increase in its comprehensive losses and reported as ~AUD 1.33 million in FY21 versus ~AUD 3.76 million for FY20.

Technical Analysis: On the weekly chart, POD’s prices are trading below the trend-following indicators 21-period SMA and 50-period SMA, indicating a bearish stance. The momentum oscillator RSI (14-period) is trading in a mid-range at ~42.269 level also suggests indecisive nature of the share price. The crucial support level for the stock is placed at AUD 0.280, while the key resistance is at AUD 0.355.

After considering its current expected indecisive price movements and substantial losses for FY21, a ‘Watch’ stance is suggested. The stock was analyzed as per the closing price of AUD 0.310 per share, down by ~1.588% as of 29^th November 2021.

Weekly Technical Chart – POD

Source: REFINITIV

NOTE: Podium Minerals Limited (Company) is a client of Kalkine Media Pty Ltd (Kalkine Media), an affiliate of Kalkine. However, under no circumstances have Kalkine or its related entities been, directly or indirectly influenced in making any recommendation concerning Company as contained in this report, and no form of compensation is or will be received by Kalkine, Kalkine Media or Kalkine’s other related entities for the publication of this report.

Hazer Group Limited (ASX: HZR)

HZR is engaged in the commercialization of the production of hydrogen gas from methane with negligible carbon dioxide emissions and the co-production of a high purity graphite. Its market capitalization stood at AUD 206.43 million as of 29^th November 2021.

Financial and Operational Updates: As per the update on Hazer Commercial Demonstration Project which was announced on 12^th November 2021, the construction activities are now fully underway, and the project achieved significant milestones with the installation of transformer units and connection to the Western Power grid.

During the quarter ended 30 September 2021 (Q1FY22), the company was focused on the execution of the Hazer Commercial Development Project. In addition, HZR wrapped up site civil preparation and civil construction works and commenced mechanical, instrument and electrical works. HZR cemented its balance sheet via completion of AUD 7.00 million placement to sophisticated and institutional investors during the quarter, and AUD 7.00 million Share Purchase Plan subsequent to the end of the quarter.

HZR has received FY21 R&D tax incentive of AUD 1,326,917 from the Australian Taxation Office on 5 October 2021. The company used the proceeds for repayment against Mitchell Asset Management Senior Secured Loan Facility. Its sales receipts for 1QFY22 were reported as nil and closed the quarter with a cash balance of ~AUD 27.30 million at the end of 30^th September 2021.

Technical Analysis: After hitting highs of ~AUD 1.885 and ~AUD 1.765 twice this year in 2021, HZR’s stock price is facing stiff resistance at the latter price. Currently, gone into a consolidation phase it is moving towards the trend-following indicators 21-period SMA and 50-period SMA, acting as crucial support zone. Moreover, the momentum oscillator RSI (14-period) is trading at (~53.242) suggesting a low momentum in the price levels and suggesting a possible negative stance. An immediate support level for the stock is at AUD 1.170 while immediate resistance level is AUD 1.470.

A ‘Watch’ stance is suggested, after considering its current ~261% increase (Y-o-Y) in net losses in FY21 and current price levels. The stock was analyzed as per the closing price of AUD 1.290 per share, up by ~0.389% as of 29^th November 2021.

Weekly Technical Chart – HZR

Source: REFINITIV

Osprey Medical Inc. (ASX: OSP)

With the use of AVERT Plus System and DyeVert System, OSP protects patients from the harmful effects of X-ray dye (contrast) which is used during the commonly performed angiographic imaging procedures. It currently holds market capitalization at AUD 18.85 million as of 29^th November 2021.

Financial and Operational Updates: On 28^th October 2021, the company’s DyeVert ™ was featured in multiple hospitals as it reduces the Contrast Induced Acute Kidney Injury (AKI). As per the Quarterly Activities Report on 20^th October 2021, OSP showed strong revenue growth of ~34% Y-o-Y to ~USD 508k with an increase of ~50% in unit sales PcP. Its strategic alliance with GE Healthcare showed ~80% increase in European Sales. It reported its cash receipts from customers as ~USD 416k for 3QFY21 and closed the September 2021 quarter with a cash balance of ~USD 8.11 million at the end of 30^th September 2021 versus ~USD 11.05 million at the end of 30^th June 2021. As per the Half Yearly Report, its net losses after taxes were reported as ~AUD 5.18 million in H1FY21 versus loss of ~AUD 7.44 million in PcP.

Technical Analysis: Its CMP is struggling to sustain above the trend-following indicator 21-period SMA and the 50-period SMA, suggesting a negative stand in its movement. The momentum oscillator RSI (14-period) is trading around oversold zone at ~29.80 levels show low momentum with no reversal signs in stock prices, supporting a negative bias.

Low momentum and subdued profitability suggest the scrip as a ‘Watch’. The stock was analysed as per the closing price of AUD 0.750 per share, up by ~2.040% as of 29^th November 2021.

Weekly Technical Chart – OSP

Source: REFINITIV

Note 1: The reference data in this report has been partly sourced from REFINITIV.

Note 2: Investment decisions should be made depending on the investors’ appetite for upside potential, risks, holding duration, and any previous holdings. Investors can consider exiting from the stock if the Target Price mentioned as per the Valuation has been achieved and subject to the factors discussed above.

Technical Indicators Defined: -

Support: A level where-in the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level where-in the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest. 

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trend. If the prices are trading above the 21-period, then it shows prices are currently trading in a bullish trend, (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trend. If the prices are trading above the 50-period, then it shows prices are currently trading in a bullish trend, (Vice – Versa).

The Yellow colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period) which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status while a reading of 30 or below suggests an oversold status.

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