Energy, materials, and health care are all getting a run at the top of the HotCopper forums, with each of the top three managing to stay above what was a pretty red open Monday (though it’s mellowed slightly to lunchtime).
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With more than seven million users on the HotCopper forums, every discussion and speculation can move markets – which is why getting in front of those trends is so important for any trader worth their salt. In this daily HotCopper Trends column, we break down the top three Aussie stocks through each trading day, and why they’ve drawn a daily focus intraday.
First up, Elixir Energy (ASX:EXR) has got chins wagging by landing an “exceptional” outcome in the final drilling results of the Lorelle-3H appraisal well within Queensland’s Taroom Trough. The well hit 1,033m of high-quality net gas-condensate pay within the targeted Tinowon ‘Dunk’ sandstone, which is now being described as one of the highest impact wells to be drilled in the trough this year.
Australian traders clearly loved the news just as much as HotCopper users (or rather, they’re likely one and the same); Elixir managed a +15% boom on Monday to lunchtime trade, bringing its 1Y returns to some +247%.
By midday, EXR had settled to around 9.7cps.
Elsewhere, Lynas Rare Earths (ASX:LYC) has bumped +1% after signing a binding LOI with the U.S. Department of War to finalise a rare earth oxide supply deal.
Under this arrangement, Lynas will be allocated some US$96 million by the DoW, in return for light and heavy rare earth oxide products. The Market Link understands the floor price for supply of NdPr oxide will be US$110/kg.
LYC last sold $20.91.
Racura Oncology (ASX:RAC) brought up the rear in the top three on HotCopper today. The ever-popular healthcare company received governance approval from Monash Health for the HARNESS-1 Phase 1 trial of RC220 in EGFR non-small cell lung cancer patients being treated with osimertinib.
Today, RAC is selling at ~$2.25/share.
And looking wider, the ASX has been down -0.1%.
That’s Monday’s HotCopper Market Trends, I’m Isaac McIntyre – see you for close.
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