Tuesday’s HotCopper trends: Ioneer, Conrad Asia Energy, Santos, and other daily topics

With more than 600k average monthly users on the HotCopper forums, each and every discussion can move markets. That’s why getting in front of those red-hot trends is key for every trader worth their salt. In this daily HotCopper Trends column, we break down the top Oz stocks through each trading day.

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First off the rank today, Ioneer (ASX:INR) was one of the hot stocks to follow on HotCopper today, after the company announced it had entered into strategic non-binding letters of intent (LOI) with the Korea Overseas Infrastructure & Urban Development Corporation (KIND) and Hyundai Engineering.

KIND is Korea’s specialised institution that facilitates and invests in overseas infrastructure and public-private partnership projects. It, along with Hyundai, has agreed to support the advancement of Ioneer’s Rhyolite Ridge project. Rhyolite Ridge hosts the only known lithium-boron reserve in North America.

“Rhyolite Ridge has been a decade in the making – through ongoing partnerships, permitting, and financing,” MD Bernard Rowe said.

At the time of going to press, INR was up +21.4% to 17¢.

Elsewhere on the HotCopper forums today, Conrad Asia Energy (ASX:CRD) has been informed that the delivery point for its Mako gas field in Indonesia has been completed. The “hot tap” connection for the West Natuna Transportation System (WNTS) to the Pemping gas pipeline project is now in place, as Conrad now finalises the Mako development and its tie into the WNTS.

Gas will ultimately be transported into Indonesia when Mako commences production in the fourth quarter of CY27. Conrad MD and CEO, Miltos Xynogalas, said this is an important step in developing infrastructure that will connect Natuna gas supplies to Indonesia’s domestic energy market.

CRD has been up +3.37%, at 46cps.

Elsewhere, leading Oz oil and gas company Santos (ASX:STO) was another energy stock popular with HotCopper followers after it commenced continuous production at its Pikka Phase 1 oil project on Alaska’s North Slope.

Considered one of the company’s leading growth projects, Pikka Phase 1 is developing an estimated 400 million barrels of gross 2P reserves. MD and CEO, Kevin Gallagher, today said continuous operations at Pikka Phase 1 have marked a significant step on the path to plateau production later this year.

STO has been up +0.14%, to $7.31 today.

Looking wider, the S&P/ASX 200 was up just 1.80 points today, to 8,817.90. The index has lost -1.12% for the last five days; it sits 4.18% below its 52W high.

Since its positive opening, the ASX has bounced between gains and losses after major tech names ended in the red on Wall Street. By late lunchtime, the ASX 200 has been sitting pretty flat. Globally, the markets have again been trying to understand where Brent crude is headed as U.S.-Iran peace talks progress.

The two are meeting in Switzerland following the signing of an interim deal last week.

That’s Tuesday’s HotCopper Trends, I’m Colin Sandell-Hay ⁠– see you for close.

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