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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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Caspin Resources (ASX:CPN) has been popular with HotCopper followers today after reporting high-grade tin hits in RC drilling results from the Kelpie resource extension program at the Bygoo project in New South Wales.
Kelpie is currently estimated at 3.94 million tonnes (Mt) at 0.50% tin for 19,300 tonnes of contained tin. MD, Greg Miles, said the latest and recent results clearly demonstrate substantial growth at excellent tin grades.
“This stunning result is easily Caspin’s best intersection at Bygoo to date. With the tin price holding over US$50,000 tonne, at almost four times the copper price, this is truly a high-grade and high-value intersection, occurring less than 100m vertically below surface and well within open pit depths.
“Importantly, the intersection is outside the current resource envelope and therefore has massive implications for resource growth at Kelpie.”
CPJ jumped +13.6%, to 10c today.
Proteomics International Laboratories (ASX:PIQ) is up after the U.S. Patent and Trademark Office (USPTO) granted the company’s patent application covering PromarkerEndo, a proprietary diagnostic blood test for endometriosis.
The patent strengthens Proteomics’ intellectual property portfolio and represents a major milestone towards securing granted patent protection in one of the world’s most important healthcare markets. CEO and MD David Morris said the patent covers diagnosing endometriosis using specific protein biomarkers measured in blood samples, and using the results to guide treatment selection.
PIQ has been up +19.4%, to 18.5¢ at the time of writing.
And finally, IperionX (ASX:IPX) drew much discussion as a major ASX faller, with the company dropping after today pricing its underwritten public offering of 2,275,000 of its American Depositary Shares (ADSs).
Each ADS represents 10 of its ordinary shares at a price per ADS to the public of US$21.98, for aggregate gross proceeds of approximately US$50 million.
The public offering was led by U.S. institutional investors and is expected to close on July 9, subject to customary closing conditions.
IPX was down -16.9% on the pricing news, to $3.35.
Looking wider, the ASX 200 is lower today, dropping 91.7pts, -1.04%.
That’s Wednesday’s HotCopper Trends, I’m Colin Sandell-Hay – see you for close.
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