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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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A top attraction for HotCopper followers this morning was Mesoblast (ASX:MSB) after it reported it had been successful in treating 300 patients in a pivotal phase three trial of rexlemestrocel-L for chronic low back pain (CLBP).
The trial aims to confirm the durable pain reduction from a single intra-discal injection of rexlemestrocel-L as seen in an earlier trial. CEO Silviu Itescu said completing the target of treating at least 300 patients in the placebo-controlled pivotal back pain trial ensures the trial is well powered for success.
“Commercial manufacturing is proceeding in parallel so that we can file for approval as soon as possible after trial results readout,” he said.
MSB was up +0.64%, around $2.37 at time of going to press.
Elsewhere across the HotCopper forums today, AuKing Mining (ASX:AKN) was closely monitored after the company confirmed it had received firm commitments for a $5 million equity raising. The support came via family offices, global institutions and sophisticated and professional investors.
Proceeds from the placement will be used to upsize the current drilling program at the Tundulu rare earths project in southern Malawi, AuKing said, following positive on-ground findings from initial drill sample logging.
After the news today, AKN has been 2.7¢, down -3.57%.
And finally, a big riser in the resource ranks was Tusker Minerals (ASX:TSK), which reported that the Douala Basin asset in Central Africa is emerging as a globally significant rutile project. The company has announced a JORC (2012) exploration target of 2.1 to 2.6 billion tonnes at 2.1 to 2.3% total heavy minerals (THM) for the Diwong South deposit within the Douala Basin project. The estimate includes indicative in-situ grades of 0.3 to 0.35% rutile and 0.06 to 0.07% zircon.
TSK was up +41.2% today, to 12¢.
Looking wider, the ASX 200 was lower, dropping 23.5 points, or -0.27%.
That’s Tuesday’s HotCopper Trends, I’m Colin Sandell-Hay – see you for close.
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