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Sixty Minutes is, in many ways, peak boomer. The not-so-shiny-anymore crown jewel is that of a media brand now more invested in property advertising and streaming services. And TV insiders everywhere appear unwilling to accept that nobody on the way up, instead of on the way out, is really watching TV anymore.
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But last night the Sixty Minutes program did show, however, its continuing relevance for … the Australian share market.
That’s because Greenland-based microcap Energy Transition Minerals (ASX:ETM), probably one of the more unique plays on the ASX, has shot up today by nearly +130% after appearing on the program last night.
As of midday today, around $3.7M worth of shares had traded hands. Not quite the liquidity you’re seeing for MinRes on Monday ($50M traded in the first hour of the day), but enough to see the volume shoot up well over a 4wavg of 1.39M.
If you’re like me, you want to know how, exactly, ETM – a company with a cap under $200M and 1.5B shares on issue – ended up on Sixty Minutes in the first place.
It wasn’t just a fleeting overlay shot of the company’s branding, either. Executives Simon Kidston and Daniel Mamadou were directly interviewed, presumably because the producers at Sixty Minutes just naturally care about critical minerals.
That’s probably what’s going on, an organic interest in supply chains. Surely. Let’s just leave that there.
At any rate, it’s another injection of enthusiasm for the company (which I admit I do like to keep tabs on), and there’s a reason the market likes the stock.
ETM likes to say it could have the world’s largest REE deposit just sitting there in Greenland, if only its pesky left-leaning government would allow mining. That issue has been the subject of a long-running lawsuit that has seen ETM attempt to sue Greenland for four times its GDP. Unfortunately, like the landscape around the country, that process is moving at a glacial pace.
Not helping matters is that Trump has also apparently stopped caring about Greenland for the time being, and with no noise, there’s no signal in this case.
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So you can say what you want, but at the end of the day, the big thing is that it’s lucky the company ended up on Sixty Minutes. Especially because just last week, the company looked like it was quietly pivoting back to Spain to hunt for niobium-tantalum.
ETM last traded at 12.5cps.
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