And we here at Bulls N’ Bears have no doubt that reducing greenhouse gas emissions while increasing the amount of lamb on our plates is something we can all agree upon.

Second place this week goes to HighCom after its stock went ballistic, rising 100 per cent from a close of 13.5c last week to 27c. The reason the price shot up this week was an updated FY24 guidance following two new additional ballistics product orders, all unveiled this week.

The company specialises in advanced ballistic products for the high-end needs of military, law enforcement and first-responder sectors, providing primarily personal protection solutions.

Within two days, HighCom received two new ballistics product orders valued at $2.5 million and $8.9 million, respectively, continuing from a strong second half to the past financial year. The second half of FY24 saw cash holdings increase from $1.6 million to $6.2 million, with no debt.

The company’s FY24 revenue is expected to be about $46 million. It is lower than expected, based on a timing of delivery issue, however, profitability is improving and is projected to be $2 million for the second half of FY24.

It is a little ironic that a firm which manufactures ballistic defence products used globally is seeing an increase in orders when it appears global portfolios are the ones in need of the most protection.

And the bronze medal goes to … East 33, which ran up 83.33 per cent from a close of 1.2c last week to 2.2c on the back of an all-cash takeover offer by Australia’s biggest shellfish provider, Yumbah Aquaculture.

East 33, which refers to itself as “The Sydney rock oyster company”, listed on the ASX in July 2021 with the aim of expanding its business from $4 million in revenue to more than $20 million in two years. And, lo-and-behold, the company received more than $23 million in cash receipts for the past financial year, knocking down its milestones and in turn, earning the admiration of Yumbah.

The Australian aquaculture business, which started its journey farming abalone, has expanded significantly in recent years, with business centres across eight locations in Victoria, South Australia and Tasmania. It has since broadened its seafood horizons to include mussel and oyster offerings.

Now, it seems there is no stopping Yumbah’s shellfish spending spree. The acquisition looks likely to proceed as recommended by East 33’s independent board committee, which upon completion will see the company delisted from the ASX.

Rounding out this week’s runners and just outside the medals is Heavy Minerals, which hiked up some 80.41 per cent from 9.7c to 17.5c this week on confirmation it had raised $2.1 million through a royalty funding scheme.

The funds were received for a 1.05 per cent royalty on potential future gross production revenue at its Port Gregory garnet project in Western Australia.

The royalty agreement was executed with Campbell Transport for $1.25 million, adding to the previously-raised $850,000 from professional and sophisticated investors.

The company says it was, “extremely pleased to have completed the first syndicated non-dilutive pre-paid royalty to be done in Australia”.

The funds raised will be applied towards the completion of Heavy Minerals’ Port Gregory prefeasibility study (PFS), which has been held up for some months now while awaiting the completion of the royalty funding agreement.

Such royalty sale agreements are quite common in the US and can be favoured by existing shareholders, as dilutionary effects of issuing lots of shares at low prices for capital can be significantly reduced.

It certainly seems the Campbell Transport group is confident of what may lie within Heavy Minerals’ pending PFS findings, with hopes to cash in on the company’s future gross sales to the tune of 0.625 per cent, should Port Gregory end up as a producing garnet mine.

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