Good afternoon and welcome back to HotCopper highlights for the third week of the year – let’s get into it.
Raiden Resources was by far the most viewed stock as long-awaited results from its WA lithium drilling campaign turned up a duster.
The company expanded the program out of the blue which left some investors concerned Raiden might be having a hard time finding thick lithium hits; that concern was proven true on Monday. Raiden’s main value prop was always nearology, which can be a dangerous game when it comes to managing expectations. Future results could turn the ship around.
Elsewhere, Mesoblast remained in vogue as the company this week raised $260M in a placement priced at $2.50 per share. The price fell to match and user reactions were thoroughly mixed – but the momentum of a recent FDA approval remains strong.
Finally, emerging explorer of interest Marmota was again a feature of the HotCopper trending boards following a heavy two months of newsflow.
The company will soon kick off drilling at its heavy minerals and titanium discovery. Worth noting, its most recent September quarterly showed the company had just under $3M in cash. A capital raise may be on the horizon given drilling costs.
And so what about the most discussed stocks?
Star Entertainment Group was a recurring name this week as the market tries to figure out whether or not the casino is likely to go bankrupt before the New South Wales state government reviews the casino’s suspended licence in March.
Elsewhere, former antimony darling Larvotto Resources remains popular, as the critical minerals focused junior climbed again above 70 cents.
Finally, Arafura Rare Earths made the boards as chatter starts to rebuild around the stock backed by both Gina Rinehart and Canberra to the tune of over one billion dollars.
That’s HotCopper Highlights for this week, I’m Jonathon Davidson, have a great weekend and we’ll see you on Monday.