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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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Mesoblast (ASX: MSB) was popular on HotCopper after it announced it had received approval from the US FDA to implement a new potency assay, T-cell Proliferation Inhibition BioAssay (TIBA), for release and stability monitoring of all new commercial product lots.
The FDA-approved mesenchymal stromal cell (MSC) product Ryoncil is an allogeneic cellular medicines for inflammatory diseases.
The TIBA assay will ensure sufficient sensitivity to detect any shifts in potency of the commercial product that could arise during changes in manufacturing processes or production in new facilities.
Ryoncil is the first industrially-manufactured allogeneic MSC product approved by FDA for any indication, and the only MSC product to be approved for patients with steroid-refractory acute graft versus host disease aged two months or older.
MSB rose 3.21% to $2.25.
Viking Mines (ASX: VKA) was up after the second batch of assay results from its maiden reverse circulation (RC) drilling program at the Linka tungsten project in Nevada confirmed thick zones of mineralisation.
Drilling is testing down dip of the historic Linka Mine workings and returned significant intervals.
“The assay results continue to deliver grades as expected at Linka. LKRC0005 and LKRC0006 were drilled to test below the historic workings, and both have returned thick intervals of tungsten mineralisation at grades comparable to those mined at Linka through the 1950’s,” MD and CEO, Julian Woodcock, said.
“Just as importantly, the shallow holes above the historic stopes have also returned mineralisation.
VKA jumped 25.0% to 1.5¢.
Litchfield Minerals (ASX: LMS) was up on news that drilling at the Oonagalabi multi-element project in the Northern Territory is scheduled to commence on 8 October with a rig secured through Topdrill.
“We are pleased to have secured Topdrill for the October program and to be returning to the Oonagalabi Main Zone. Previous drilling at Oonagalabi confirmed broad copper-zinc mineralisation at the Main Zone and provided us with a much better understanding of the geometry and structural controls we need to test,” MD, Matthew Pustahya, said.
“This program is designed to build on that work by testing extensions to the known mineralisation, sharpening our understanding of the structural controls and stepping into new areas southwest within the Main Zone. What we learn will feed directly into the Main Zone geological model and inform the next phase of drilling.”
LMS was up 12.5% to 22.5¢.
Looking wider, the S&P/ASX 200 was lower today, dropping 73.50 points or 0.84% to 8,691.80. The bottom performing stocks in this index were Zip Co. and Nine Entertainment, down 9.82% and 7.24% respectively. The index has lost 0.46% for the last five days but is virtually unchanged year to date.
Elsewhere, with unemployment continuing to rise in August by 28,000 people, Australia must change its approach to reducing inflation to avoid the comparatively higher unemployment of other advanced nations, said the Australian Council of Social Service (ACOSS).
Largely as a result of lower average interest rates over the period from 2022 to 2025, Australia has substantially lower unemployment than other comparable countries such as Canada (6.4%) and New Zealand (5.6%), with headline inflation at similar levels.
“Since we started to increase interest rates, unemployment has also begun to rise with over 200,000 additional people out of paid work since mid 2022.
“Our comparably low unemployment rate remains a considerable achievement which we cannot take for granted. It must be protected,” said ACOSS CEO Dr Cassandra Goldie.”
That’s Thursday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
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