With more than 600k average monthly users on the HotCopper forums, each and every discussion can move markets. That’s why getting in front of those red-hot trends is key for every trader worth their salt. In this daily HotCopper Trends column, we break down the top Oz stocks through each trading day.
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Top-trending on the HotCopper forums today was strong mover Finders Energy (ASX:FDR) after it announced Timor-Leste officials had approved the field development plan for the Kuda Tasi and Jahal Project offshore oil project.
Finders CEO Damon Neaves said the approval represents the primary regulatory authorisation for development and marks the completion of the technical evaluation and development planning phase.
It provides the regulatory framework for the development of the Kuda Tasi and Jahal oil fields and enables the project to progress to the FID.
After the news, FDR rocketed up by +22.8% to 35¢ in morning trade.
Future Metals (ASX:FME) has also jumped today, and drawn major focus on the forums, after it unveiled an updated mineral resource estimate (MRE) for its Panton PGM project in the Kimberley region of Western Australia.
The MRE featured updated Indicated and Inferred numbers of 82.3 million tonnes (Mt) at 1.6 grams per tonne (g/t) PtEq for 4.24. million ounces (Moz) (open pit and underground) comprising 40.0 Mt Indicated/42.3 Mt Inferred.
Future’s MD, Keith Bowes, said the updated resource estimate provides the company with a significantly more robust foundation to move into the development stage through the initiation of an updated scoping study.
FME rose by +21.4%, to hit 1.7c at time of writing.
Finally, Golden Deeps (ASX:GED) was popular with HotCopper followers after it lined up new tests for new, deeper targets at the Graceland prospect in Namibia.
The upcoming diamond drilling will examine ‘Tsumeb-type’ sulphide targets within the 800m strike-length Gossan 1 corridor, with a focus on a key IP-chargeability anomaly with sulphide targets below Gossan 1 and Gossan 1 East in the top 100 metres. Golden Deeps CEO Jon Dugdale said the‘Tsumeb-type’ targets within Gossan 1 provide a highly mineralised corridor.
GED has been up +17.5%, to 4.7¢ at lunchtime.
Looking wider, the ASX 200 opened lower, dropping 68.9 points, or -0.78%.
That’s Thursday’s HotCopper Trends, I’m Colin Sandell-Hay – see you for close.
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