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Good afternoon and welcome to HotCopper Highlights for Week 11, our weekly wrap where we look at the news you were watching this week. Let’s get into it.
Starting with most viewed,
Boss Energy attracted eyes on Thursday as it boosted its stake in Laramide Resources to 18.4% – just shy of 20%. Boss confirmed it hasn’t been in talks with Laramide, and even said it won’t buy out the company.
And yet, it’s building up a stake towards 20%. Not long from now, it will need to make a takeover offer. Make of that what you will.
Meanwhile, South African helium producer Renergen Limited finally arrived at a crucial milestone on Friday – the company is now at the stage of selling liquid helium.
This follows a multitude of delays at the South African project – South Africa’s power grid has long been struggling, along with other issues in the country – but a stock price jump on Friday showed investors were warming back up to Renergen after much impatience.
Finally, Silk Logistics tanked on Thursday after the Australian competition regulator issued a 26 page report of concerns surrounding its proposed takeover by Dubai-based logistics giant DP World – so many pages, in fact, many investors decided to bail on Silk altogether.
It was one of the more stronghanded moves from the regulator year to date, and there’ll be lots of eyes watching to gauge the tensity of red tape down under this year.
And as for the most discussed,
Forum favourite Strike Energy generated chatter as it threw a conference at Rottnest with a presentation that took shots at former CEO Stuart Nicholls. The company pointed to a lack of ‘coherence’ regarding strategy under Nicholls, which looks like they’re blaming the former top dog for shareholder pain.
Meanwhile, Star Entertainment’s long-running saga towards bankruptcy is looking more positive as the casino chats with two cashed up entities – Bally’s Group and Salter Brothers Capital – both dangling possible private bailouts for the casino operator.
Finally, another forum favourite Race Oncology was hot on Friday as the company gets set to kick off a key cancer trial in New South Wales following an ethics approval. Biotech fever could be here to stay.
That’s HotCopper Highlights for this week, I’m Jonathon Davidson, have a great weekend and we’ll see you on Monday.
