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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One of the biggest movers of the day so far has been Prominence Energy (ASX:PRM), after the company revealed an independent satellite study highlighted exploration potential at its Eyre helium and hydrogen project.
Independent satellite spectral analysis has now identified numerous helium, natural hydrogen and methane anomalies across the project. COO, Dr Krista Davies, said the results have provided further evidence supporting the company’s exploration model and helping advance high-priority targets to drilling.
PRM was up +33.3%, to 0.2c at the time of going to press.
Adavale Resources (ASX:ADD) was also strongly backed across the HotCopper forums after multiple hits in the growing body of its London-Victoria gold mine validated and extended the resource below the existing open pit.
New results from the mine, located in the prolific Lachlan Fold Belt of NSW, support the company’s interpretation that London-Victoria contains a combination of structurally controlled higher-grade shoots of mineralisation under the northern portion of the pit and broader zones to the south.
ADD has been up +2.86% today, to sell at 3.6¢.
Finally, leading Australian diversified specialist trade skill services business Tasmea (ASX:TEA) caught attention on the HotCopper forums after it announced the strategic acquisition of JPS Group, a leading integrated services provider to the energy sector. MD, Stephen Young, said JPS Group diversifies Tasmea’s earnings across structurally growing LNG, gas and energy infrastructure markets.
“The acquisition of JPS is a defining step in Tasmea’s programmatic growth strategy and diversifies the group’s earnings into the structurally growing LNG, gas and critical energy infrastructure sectors,” Mr Young said.
On the back of the news, TEA was up +4.43% to $9.43.
Looking wider, the S&P/ASX 200 was up today, up 30.1 points to lunchtime.
Homeowners will be hoping for more good news on the interest rates front, too, after headline inflation eased to an annual rate of 4% in May, down from 4.2% in April, according to the latest ABS data. The better-than-predicted number comes after sharp falls in petrol and diesel prices.
Rachael McCririck, ABS head of prices statistics, said the largest contributor to annual inflation in May was housing, which rose by 6.5%.
That’s Wednesday’s HotCopper Trends, I’m Colin Sandell-Hay – see you for close.
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