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Welcome to HotCopper Highlights for Week 9 of the year, I’m Jonathon Davidson. Let’s get into it.
Star Entertainment took the top spot on Friday once again as its latest release gives investors an idea of how the company is faring – or how badly. Star said on Friday it expects to receive financial proposals from other parties today, which could then offer it the liquidity it needs to file a financial report. The company’s stock plunged again, while its next casino licence review is next month.
Meanwhile, HotCopper users digested the financial report of emerging AI microcap Nanoveu after which stocks fell -10%, also on Friday. The company’s revenue was down -93% year on year after a recent capital raising. Nanoveu released a presentation earlier this year claiming its AI tech could help crop prediction, it’s unclear how this could improve existing weather radars.
Elsewhere, Melbana Energy attracted eyes earlier in the week as the longtime Cuba-based oil and gas explorer released an unrisked resource estimate for its WA-based gas blocks off the Northwest Shelf. Behind the scenes, Cuba is struggling with massive population outflows and an aging power grid, which appear to be prompting Melbana to consider an Aussie project.
And so what about the most discussed?
HotCopper favourite FBR Limited continued to generate conversation in a very popular thread, especially after the robotic homebuilder apparently courted the interest of Samsung Heavy Industries, the Korean giant’s shipbuilding division. Collaborative talks are early stage, but it’s been enough to rejuvenate forum interest.
Meanwhile, Arafura Rare Earths continued to prompt chatter, especially after a few share price jumps this week on no news. The Gina Rinehart backed company is intending to mine the NT for rare earths, but with neodymium prices not too exciting right now – that commodity generally acting as a benchmark for all rare earths – the project could be a while away yet.
Finally, Wisetech Global was back on the forum’s trending lists after Richard White came back onto the company’s board as Chair after a sort-of-resignation last year. White, who has been dogged by reports of sex scandals since last year, founded the company – and the departure of four board members this week has been of much interest. One to keep an eye on.
That’s HotCopper Highlights for this week, I’m Jonathon Davidson, have a great week and we’ll see you on Monday.
