Good afternoon and a happy Friday. This is HotCopper Highlights for the week, I’m Jonathon Davidson.
Let’s get into it.
Among the most watched stocks on HotCopper was Monday’s sensational news that Northern Star will be snatching up De Grey Mining.
There’s chatter De Grey may receive another offer, which may be why 1-week returns were 26% higher on Friday. For its part, Northern Star wants the WA Hemi gold deposit that put De Grey on the map.
Elsewhere, another listed lithium company collapsed as Lepidico revealed it’s going into administration on Thursday. The company had earlier in the week flagged a need for strategic financing.
Despite the fact lithium prices have forced projects to shutter for more than 12 months, shareholders still hanging on weren’t too happy. The hardest part of investing really is knowing when to sell.
Finally, HMC Capital attracted attention on Thursday when it moved to pick up French Neoen’s renewables assets across Victoria for nearly one billion dollars.
HMC is setting up an energy transition investment base; the French renewables multinational is one of Australia’s largest and often overlooked clean energy players.
So what about the most discussed?
Former defence stock darling Droneshield generated chatter with its news of a repeat contract order for its anti drone tech from a European customer.
Droneshield was the talk of the town earlier this year as its market cap hit one billion – miles ahead of its relatively small market cap. Short sellers have since moved in.
Elsewhere, TMK Energy’s latest pilot well program was of interest to HotCopper users. The Mongolian-based gas explorer is one of the last Australian stocks working in the Gobi Desert after Talon Energy and Elxiir Energy left in recent history.
Finally, Gina Rinehart backed Arafura Rare Earths was on the radar despite having no real news. The company received an $800M lifeline from Canberra earlier this year, though, it looks like the project momentum has stalled while anchor rare earth commodity Neodymium prices remain off COVID highs.
That’s HotCopper Highlights for this week, I’m Jonathon Davidson – have a great weekend and we’ll see you on Monday.