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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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Latrobe Magnesium (ASX: LMG) was a big mover after it unveiled its intention to pursue a USA-based commercial magnesium project with the aim of selling primary magnesium metal into the North American market.
Chairman, Jock Murray, said the project aims to be the first new commercial-scale primary magnesium producer in North America in decades, addressing the magnesium supply gap for US defence, aerospace, automotive and aluminium industries.
The 50,000 per annum (ktpa) primary magnesium metal plant is strategically positioned in South Carolina.
Letters of Intent have been signed for 32,000 tonnes per annum (ktpa) of committed demand from US consumers and traders, with substantial backing from the State of South Carolina.
LMG was up 60.0% to 1.6¢.
CurveBeam AI (ASX: CVB) was closely monitored on HotCopper after it revealed it had received US Food and Drug Administration (FDA) clearance for its CT-based Bone Mineral Density (BMD) technology using multidetector CT (MDCT) supine (lying-down) scans.
The clearance represents an important regulatory milestone in CurveBeam AI’s strategy to expand its advanced CT imaging capabilities into quantitative bone-health assessment, and over time develop a broader CT-based platform that can deliver anatomical, alignment and bone-quality information from a single examination generating additional revenues through a SaaS model once the clearance on HiRise is achieved.
The next stage of CurveBeam AI’s BMD regulatory strategy is to extend the cleared BMD technology to weight bearing, standing CT BMD measurement on the company’s HiRise platform.
HiRise is designed to provide weight bearing CT imaging of the lower extremity, providing the potential to combine assessment of the patient’s anatomy, alignment and bone quality within a single standing examination.
CVB jumped 30.0% to 2.6¢.
Lumos Diagnostics Holdings (ASX: LDX) is up on news it had expanded its FebriDx live sites to 215 and sites under evaluation to 405.
The company also revealed that two new US urgent care groups within the top 100, each owned and operated by major US health systems, have moved into the network rollout stage, with FebriDx to be deployed across more than 40 combined sites.
“Securing two further top 100 urgent care groups, both backed by major US health systems, is a clear signal that FebriDx is earning a place in frontline respiratory care,” CEO Doug Ward, said.
“These are sophisticated organisations that evaluate diagnostics on clinical utility, workflow fit and economics before committing sites, and they are now moving into rollout ahead of the respiratory season. Pleasingly, FebriDx is now deployed across 215 live sites, including 44 WellStreet sites, with a further 405 sites in the evaluation stage.”
FebriDx is a rapid point-of-care test that uses a fingerstick blood sample to aid in the differentiation between bacterial infection and non-bacterial etiology.
LDX was up 10.0% to 11.0¢.
Market news
Looking wider, the S&P/ASX 200 was lower today, dropping 43.10 points or 0.49% to 8,706.80. The bottom performing stocks in this index were Westgold Resources and Evolution Mining, down 4.53% and 4.13% respectively. The index has lost 2.40% for the last five days but is virtually unchanged year to date.
Elsewhere, more than two-thirds of New South Wales voters support uranium mining in the state if it helps address climate change, according to research conducted for the Minerals Council of Australia (MCA).
A survey of 1000 NSW voters conducted for the MCA also found that twice as many voters would support a candidate in favour of uranium mining compared to a candidate that opposed extraction of the resource.
The research found a majority of NSW voters (52 per cent) support uranium being mined in NSW in the same way it is mined in other Australian jurisdictions.
Australia’s uranium reserves are the world’s largest, with around one-third of global resources, and Australia is the world’s fourth largest producer behind Kazakhstan, Canada and Namibia, MCA CEO Tania Constable, said.
Nuclear energy generation from uranium is recording its biggest growth for many decades as recent global energy trends reinforce benefits including energy security, low emissions and reliable supply.
That’s Tuesday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
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