Puget Technologies Inc (OTCMKTS: PUGE) is making a major move northbound out of the triple zeroes to recent highs near a penny. The stock is quickly gaining traction among small cap investors and starting to attract some big players. Currently under heavy accumulation PUGE is looking to break out of its current trading range and blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension; with recent highs of $0.0095 PUGE is looking for a blue-sky breakout into copper land.
PUGE has got a lot of investors behind it and it’s easy to see why; the Company has been making big moves bringing on new CEO seasoned healthcare management professional Karen Fordham and executing on every level. The stock is already “Pink Current” and the Company has announced some major acquisitions in the works including Behavioral Centers of South Florida LLC (“BCSF”), an LOI to acquire D & D Rehab Center, Inc., (“D & D”) based in Hialeah, Florida. D & D’s total revenues (unaudited) for the calendar years ended December 31, 2019 and 2020 were $3,595,291 and o $3,635,240, respectively, with profits of $221,252 and $252,242. They are also in negotiations to acquire Florida Behavioral Center, Inc. (“FHS”), and Glades Medical Centers of Florida LLC (“GMC of Florida”), a Florida limited liability company. FHS’s total revenues for the calendar years ended December 31, 2019 and 2020 were approximately $3.9 million and $4.1 million, respectively, and revenues for GMC of Florida for the calendar years ended December 31, 2019 and 2020 were $700,000 and $500,000, respectively.
Puget Technologies Inc (OTCMKTS: PUGE) operating out of Boca Raton, Florida PUGE aspires to evolve into an innovation-focused holding company operating through a group of subsidiaries and business units that work together to empower ground-breaking companies to reach their next stage of growth. With a strategy that combines acquisitions, strategic investment strategies, and operational support, Puget intends to provide a one-stop shop for growing companies who need access to both capital and growth resources, while enabling Puget and its stockholders to generate synergies and derive profit through pooled resources and shared goals. Puget’s current investment focus ranges from traditional industries like health care that are ripe for business model innovation to new markets that strive to solve big societal problems such as climate change. Publicly traded on the Pink Open Market under the ticker symbol “PUGE”, Puget is committed to delivering a competitive return to investors.
The Company is making big moves recently brining on new CEO Karen Fordham. Hermann Burckhardt, who has held the role since 2015, will continue as a member of the Board of Directors as needed. Ms. Fordham’s employment with Puget commenced on August 19, 2021. Ms. Fordham is a highly successful and seasoned healthcare management professional with more than 20 years of diverse experience specializing in operations, service line development, strategic planning, physician recruitment, process improvement, and financial management for large healthcare organizations. Her experience includes managing the behavioral health divisions in various large hospital settings. This expertise is extremely beneficial to Puget as the company drives forward its health care acquisition strategy with the goal of creating integrated health care delivery systems that fuse the needs for behavioral and traditional primary care into one holistic enterprise.
In August the Company reported it was in negotiations for the acquisition of Behavioral Centers of South Florida LLC (“BCSF”) are progressing in full force. Upon completion of the transaction, which is expected, for regulatory purposes, to be concluded in two stages, BCSF would become the first company to enter Puget’s Pre-IPO Incubator program, which prepares companies for entering the public markets.
Puget and BCSF anticipate expansion by establishing additional clinics throughout the state of Florida, and through the acquisition of compatible and complementary businesses. BCSF is represented by the Florida firm of Kravitz Talamo & Leyton PLLC, and it is anticipated that following the proposed closing, this law firm will represent Puget in healthcare-related matters, including additional acquisitions.
On August 11 PUGE announced an LOI to acquire D & D Rehab Center, Inc., (“D & D”) based in Hialeah, Florida. D & D, organized in February of 2010, is a health care provider that provides applied behavior analysis in the home environment to children who have conditions on the autism spectrum, among others. Additionally, through occupational, speech, and physical therapists available at its center, D & D provides rehabilitative services to individuals disabled by disease or injury to help them attain their maximum functional capacity. As proposed, Puget would acquire D & D in two stages, first, a 50% interest in exchange for $1,500,000 in cash equivalents and $1,500,000 in unregistered shares of Puget’s Class B Convertible Preferred Stock. D & D’s total revenues (unaudited) for the calendar years ended December 31, 2019 and 2020 were $3,595,291 and o $3,635,240, respectively, with profits of $221,252 and $252,242.
— Mr_Realistic (@MrRealisticOTC) September 30, 2021
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On September 10 PUGE announced it has entered into two additional letters of intent to acquire companies in the healthcare industry. The first, Florida Behavioral Center, Inc. (dba “Florida Healthcare System” and referred to as “FHS”), organized in 2015 and based in Doral, Florida, is a healthcare organization that provides mental health services through an experienced team of psychiatrists, mental health counselors, case managers, and administrative staff. Common mental health concerns treated include anxiety, substance abuse, depression, suicide risk, trauma, bipolar disorder, and attention deficit disorder; and targeted case management services are offered for mental illness in patients of all ages.
The second, Glades Medical Centers of Florida LLC (“GMC of Florida”), a Florida limited liability company, is the successor in interest to Glades Medical Centers LLC, a Florida limited liability company organized on May 28, 2014 after its entry into a joint venture with Primary Medical Physicians, LLC, also a Florida limited liability company (all collectively referred to as “GMC of Florida”). Its services focus on preventive primary care as well as diagnosis and treatment of illnesses and minor injuries. Additional services include an in-house lab along with specialists including podiatry, allergy, and gynecology.
In each case, the companies have granted Puget a 90-day exclusive right to negotiate specific terms after it conducts required due diligence and the parties determine the most appropriate valuations and form of acquisition. In both cases, the acquired companies would become consolidated subsidiaries of Puget and would be incorporated into Puget’s healthcare division, along with Behavioral Centers of South Florida, LLC and D & D Rehab Center Inc., in order to generate synergies and attain significant operational savings. FHS’s total revenues for the calendar years ended December 31, 2019 and 2020 were approximately $3.9 million and $4.1 million, respectively, and revenues for GMC of Florida for the calendar years ended December 31, 2019 and 2020 were $700,000 and $500,000, respectively. While it is anticipated that the FHS transaction will involve a traditional acquisition, GMC of Florida is expected to become part of Puget’s incubator program for companies that are interested in potential future spinouts as independent public companies. In both cases, Puget intends to conclude related negotiations on or before November 30, 2021, with closings occurring by December 31, 2021.
Karen Fordham, President and CEO of Puget, explains, “The addition of Florida Healthcare System and GMC of Florida to our healthcare portfolio will enable us to expand our behavioral health and primary care capabilities, thus advancing our aspirations of creating a holistic healthcare service delivery system.” Ms. Fordham elaborates, “With the ability to offer a broader array of services to their patients under the same roof, both Florida Healthcare Systems and GMC of Florida have the potential for significant revenue growth. We look forward to working with both executive teams to deliver high quality patient service in Florida and beyond.”
— The Pirate (@ArrrgToTheMoon) September 27, 2021
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PUGE is making a major move northbound out of the triple zeroes to recent highs near a penny. The stock is quickly gaining traction among small cap investors and starting to attract some big players. Currently under heavy accumulation PUGE is looking to break out of its current trading range and blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension; with recent highs of $0.0095 PUGE is looking for a blue-sky breakout into copper land. PUGE has got a lot of investors behind it and it’s easy to see why; the Company has been making big moves bringing on new CEO seasoned healthcare management professional Karen Fordham and executing on every level. The stock is already “Pink Current” and the Company has announced some major acquisitions in the works including Behavioral Centers of South Florida LLC (“BCSF”), an LOI to acquire D & D Rehab Center, Inc., (“D & D”) based in Hialeah, Florida. D & D’s total revenues (unaudited) for the calendar years ended December 31, 2019 and 2020 were $3,595,291 and o $3,635,240, respectively, with profits of $221,252 and $252,242. They are also in negotiations to acquire Florida Behavioral Center, Inc. (“FHS”), and Glades Medical Centers of Florida LLC (“GMC of Florida”), a Florida limited liability company. FHS’s total revenues for the calendar years ended December 31, 2019 and 2020 were approximately $3.9 million and $4.1 million, respectively, and revenues for GMC of Florida for the calendar years ended December 31, 2019 and 2020 were $700,000 and $500,000, respectively. We will be updating on PUGE when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with PUGE.
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Disclosure: we hold no position in PUGE either long or short and we have not been compensated for this article.
Monsters of Rock: Lithium shares flush with positive sentiment to dominate the gains
Lithium miners were the kings, queens, jacks and aces of the bourse on an avalanche of positive news around the … Read More
The post Monsters of Rock:…
Lithium miners were the kings, queens, jacks and aces of the bourse on an avalanche of positive news around the sector.
The biggest trigger was probably the incredible rise in value for Tesla overnight, which soared beyond a US$1 trillion valuation on news Hertz would order US$4 billion worth of electric vehicles from the automaker.
As the leading electric vehicle maker in the western world, and with a big presence also in China and energy storage, Tesla is one of the biggest end users of lithium products globally.
Its boss Elon Musk, now the richest man ever, has a fair bit of sway on the market as well.
— Elon Musk (@elonmusk) October 25, 2021
On top of that Pilbara Minerals (ASX:PLS), up 525% over the past 12 months since spodumene prices bottomed out at under US$400/t (it sold a batch for upwards of US$2000/t last month), gained 7.66% after formally announcing plans to develop a lithium chemical plant in a JV with South Korea’s POSCO.
Core Lithium (ASX:CXO) declared the start of construction on its Finniss Lithium Mine in the Northern Territory. That will be shipping concentrate from the end of 2022.
$550 million capped Neometals (ASX:NMT) was up 14% after announcing its battery recycling demonstration plant in Hilcenbach, Germany, had been fully commissioned.
The one time lithium miner is up 405% over the past year.
On the flippity flip, iron ore miners were weak with Fortescue (ASX:FMG) and Rio Tinto (ASX:RIO) cancelling out a gain from BHP (ASX:BHP), while Mineral Resources (ASX:MIN) cancelled out the gains it made with yesterday’s announcement the Wodgina lithium mine would be coming back online with news it ate a 48% price discount on iron ore sales in the September Quarter.
MinRes’ average realised prices fell from US$178/t to around US$78/t between the June and September Quarters.
Base metals inventories falling, but can it be sustained?
Base metals were back up on Monday, with production cuts in energy starved China and Europe hitting primary supply.
Inventories held by the major exchanges are being chewed up.
While price moves among the miners was muted, nickel rose 3.2% to climb back over US$20,000/t overnight after hitting US$21,000/t briefly last week.
“Nickel rallied after Eramet disclosed a 19% drop in ferronickel production from its operations in New Caledonia,” ANZ analysts said in a note.
“The market is also showing signs of tightness, with cash contracts closing at their biggest premium to futures in two years. LME inventories are down nearly 50% since April.”
LME stockpiles for copper hit their lowest level since 1974 last week, but Commbank analyst Vivek Dhar says it is too early to say whether the market is as tight as it seems, or whether some traders are hoarding to capitalise on high prices.
The market is expected to be in a small deficit at the end of this year to a 328,000t surplus in 2022 on rising supply (about 1.3% of global demand).
Mined supply is expected to increase 2.1% this year and 3.9% in 2022, but Dhar warned copper miners had a history of underwhelming.
“The rising forecasts for copper mine production reflect 5 major copper projects due to arrive by the end of 2022,” Dhar said.
“That compares with just two major copper projects in the last 4 years.
“Given the track record of mine disruptions (i.e. labour strikes, power and water scarcity and geopolitics) and the decline in copper grades, elevated copper mine production growth forecasts don’t tend to last long.
“We think it’s worth considering that new mine supply may take longer than currently expected to hit the market.”
The post Monsters of Rock: Lithium shares flush with positive sentiment to dominate the gains appeared first on Stockhead.
Lefroy Exploration secures major nickel frontier land package in WA
Special report: In line with its multi-commodity gold and base metals strategy, Lefroy Exploration has pegged five exploration licence applications ……
In line with its multi-commodity gold and base metals strategy, Lefroy Exploration has pegged five exploration licence applications over a new nickel project named Glenayle.
The Glenayle Project covers a massive contiguous 2735sqkm of the Proterozoic age Salvation Basin that is intruded by multiple dolerite sills which extend over the entire land package.
These dolerite sills are part of the Warakurna Large Igneous Province (LIP), which extends west to the Bangemall Basin and east to include the Giles layered intrusive complex. More importantly, they are considered prospective for nickel mineralisation.
Glenayle represents a first mover approach by Lefroy (ASX:LEX) into a frontier nickel-copper exploration project with its stake over the Warakurna LIP.
New wholly owned subsidiary to list on ASX in 2022
The Glenayle tenement package is held by a new wholly owned LEX subsidiary, Johnston Lakes Nickel (JLN), which Lefroy aims to list on the ASX in 2022 subject to shareholder and regulatory approvals.
JLN will also hold other nickel assets currently held by LEX at Lake Johnston and at Carnilya South in the Lefroy Gold Project.
The company expects the tenements to be granted in Q4, 2022.
While the explorer aims to expand its portfolio in search for nickel, the focus remains on exploration at Eastern Lefroy and the Burns gold-copper prospect.
A rare opportunity
LEX managing director Wade Johnson said it is not often that an opportunity like this presents itself.
“It is a monster land package,” he said.
“We have taken the first mover approach into a new area that has seen very little exploration.
“We are very keen to further develop and apply knowledge learned about nickel mineralisation in large igneous provinces that will provide exploration targeting criteria for target selection,” he said.
“Glenayle adds another wholly owned project to the LEX greenfields exploration portfolio and complements our other nickel assets at Lake Johnston and Carnilya South.”
Identified in desktop assessment
The Glenayle nickel project was identified after a desktop assessment to identify new areas in Western Australia considered prospective for nickel mineralisation.
Prior geological knowledge of the area from a field reconnaissance trip in 1998 by Wade Johnson and the subsequent review of the research paper by Pirajno and Hoatson (2012) supported LEX’s acquisition.
Lefroy has kicked off compilation and assessment of previous surface geochemistry, geophysical and drilling data from WAMEX at Glenayle.
The location of drill core from the only three diamond holes drilled at Glenayle is being sourced, with two of the three holes being located.
Geophysics, and in particular interpretation of gravity survey data, will play a key role in guiding exploration targeting within the project.
Development of a detailed aeromagnetic and gravity dataset is underway and will be the primary exploration tool in the interpretation of the distribution of the mafic rocks such as feeder sills, layered intrusions and dykes within the Salvation Basin.
This will then be followed by targeted stratigraphic diamond drilling in 2023.
The company will apply for funding support through the WA State Governments Exploration Incentive Scheme (EIS) for this drilling where applicable.
LEX has also commenced land access negotiations with the determined Native Title group.
This article was developed in collaboration with Lefroy Exploration, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The post Lefroy Exploration secures major nickel frontier land package in WA appeared first on Stockhead.
Resources Top 5: Investors pile into ASX stocks as global magnesium shortage bites
China is slashing magnesium production due to ongoing power crisis and buyers are getting desperate ASX magnesium stocks Korab, Latrobe … Read More
- China is slashing magnesium production due to ongoing power crisis and buyers are getting desperate
- ASX magnesium stocks Korab, Latrobe and Magnotec soar in early trade
- Emmerson hits visual copper in drilling, Aguia inks phosphate sales agreement
Here are the biggest small cap resources winners in early trade, Tuesday October 26.
(Up on no news)
There are only a handful of current or likely magnesium producers outside China, which is slashing production due to an ongoing power crisis. Buyers are getting desperate.
Another metal going berserk, courtesy of China’s energy crunch. Magnesium (a key element to produce steel and aluminum alloys) has gone up 225% since January. Europe, which buys 95% of its magnesium from China, will run out of the metal by late November https://t.co/Vzdupn4tNP pic.twitter.com/eD4V593IiZ
— Javier Blas (@JavierBlas) October 22, 2021
$20m market cap KOR is currently in a pause pending a further announcement after shooting up almost 100% in early trade.
This sleepy explorer has been trying to develop, or sell, the ‘Winchester’ magnesium project in the NT for over a decade.
Over the last few months, KOR says it has been approached by two separate groups expressing an interest in developing Winchester.
The latest unsolicited proposal would see the two parties “jointly develop the Winchester quarry where the other party will fully fund the development in exchange for sharing the future profits from the quarry”.
No commercial terms have been met as yet, KOR said September 30.
(Up on no news)
LMG plans to develop a 3000tpa operation which will convert fly ash from the Yallourn coal operations in the Latrobe Valley into magnesium and a host of other industrial products.
Latrobe still has engineering and other studies to complete before issuing tenders for construction of its plant in January next year but managing director David Paterson said end users facing supply woes out of China were already desperate to get their hands on mag product.
“That’s why we keep on talking about diversity of supply,” he told Stockhead on September 30.
“We’ve had probably at least three or four inquiries a week, probably one a day.”
“We’ve had two today just on can we supply mag at a price, at any price, because they can’t get supply.”
(Up on no news)
China and Europe-based MGL isn’t a miner, but it does sell primary and recycled magnesium alloys into the auto, power tool and electronics sectors.
In the first six months of 2021 the metals businesses experienced a ‘difficult period”. The principal constraint on Magontec’s metals business in China is the absence of raw material supply, it says.
“Auto sector output was constrained, logistics costs rose sharply, magnesium prices were volatile and Magontec’s key magnesium alloy cast house at Golmud, Qinghai province, PRC continued to source its raw material from regional Pidgeon producers pending resumption of supply from the Qinghai Salt lake Magnesium Co Ltd (QSLM),” the company says.
“Until this supply re-commences the MAQ business will continue to be unprofitable at the EBITDA line and, with depreciation charged on this currently non-performing asset, will continue to negatively impact reported profit.”
MGL’s other metals businesses — recycling of magnesium alloy scrap in Germany and Romania — is also challenged.
“A slowdown in the automotive sector due to chip shortages, among other issues, has reduced volume throughput for the European recycling facilities over the last 12 months and we don’t expect a recovery in the short-term,” the company says.
A maiden drilling program pulled up visual copper at ‘Hermitage’, one of a cluster of targets held by ERM in the 5.5Moz gold, 470,000t copper Tennant Creek Mineral Field (TCMF).
Drill hole HERC002 and HERC003 intersected thick zones of malachite (copper ore) chalcopyrite (copper ore), interspersed with native copper.
Here’s what that looks like:
HERC003 terminated in mineralisation at 192m, ERM says.
Drilling continues, and first assay results are expected in the current December quarter.
Hermitage has not seen any systematic, modern exploration since the 1980s.
The first phase of this exploration is aimed at following up historic hits like 9m at 12.8g/t gold from 176m and 23m at 4.84g/t gold and 3.7% copper from 203m.
$37m market cap ERM has been treading water, up 7% over the past month and down 6% year-to-date.
This aspiring fertiliser miner has presold 30,000 tonnes per annum of natural phosphate fertiliser from the ‘Três Estradas’ Phosphate Project (TEPP) in Rio Grande do Sul, the southernmost state of Brazil.
The MOU — with well-known fertiliser and agribusiness distributor Tuch — potentially represents well over half of AGR’s projected first year of TEPP sales, estimated at 50,000 tonnes, the company said.
The sale price from AGR to Tuch is $74 per tonne FOB for the product in bulk. Operational expenditure has been estimated at just $11/t.
The project, which will cost just $8m to build, is expected to produce 306,000tpa over 18 years following a three-year ramp up, AGR added.
The post Resources Top 5: Investors pile into ASX stocks as global magnesium shortage bites appeared first on Stockhead.
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