Good Afternoon and welcome to HotCopper highlights – I’m Jonathon Davidson. In this segment we’ll look at the top stocks HotCopper users have been watching, and discussing, through Week 47. Let’s get into it.
On Tuesday, Sayona Mining attracted 61,342 viewers when it announced a merger with North Carolina’s Piedmont Lithium.
The deal had been long-awaited, and HotCopper’s positive reaction to the news shows interest in lithium is still strong, despite collapsed lithium prices. The deal also speaks to a larger macro trend: everywhere in lithium land, it’s still a case of vultures and prey.
Pancontinental Energy, meanwhile, drew some 20,387 viewers on Wednesday with its news of a trading halt set to expire on Friday.
The company issued the halt in relation to a Seismic Licence with the southern hemisphere’s second largest oil and gas supermajor, Woodside– that company acquired an option in March of 2023 to pick up a 56% stake in Pancontinental’s licence offshore Namibia.
On Friday, when the halt was lifted, we learned Woodside has until March next year to make a decision. So, kind of a non-event.
Finally, Race Oncoloy saw 11,310 users viewing its Thursday news the company has discovered a batch of new molecules it hopes could be powerful anti-cancer drugs.
Shares jumped 5% at close on Thursday in response, adding more green to the company’s stats – its year to date returns through 2024 are up around +70%.
So that was most viewed – but what about the most discussed?
WA-based lithium explorer Raiden Resources was among the most discussed, given HotCopper users are anxiously waiting to see lithium drill hit data from the company’s WA Andover project.
Users have been mixed on what a recent surprise move to expand the drill run means. In other words, is it good news, or is the company struggling to find a good spot of lithium?
Elsewhere on the HotCopper forums, Web Travel Group’s news it won’t release its latest results until late November caused a stir, especially given that the company has now started blaming Deloitte for delays – completely out the blue.
Finally, microcap Magnum Mining had people typing with a lot of question marks as the company pivoted to a rare earths project in Brazil. Up until this week, the company had been more focused on making green steel in Saudi Arabia.
That’s HotCopper Highlights for this week – have a great weekend, stay safe, and we’ll see you on Monday.
