Good Afternoon and welcome to HotCopper Highlights wrapping up Week 21 of the year, I’m Jon Davidson. In this segment we look at what you’ve been watching and discussing most this week, let’s get into it.
Starting with the most viewed,
Lucapa Diamonds attracted eyes on Friday as the company officially appointed administrators, all but confirming to shareholders the company is in between a rock and a hard place. With one year returns down nearly -85%, and no share price action on Friday, it looks like most investors have jumped ship. Spare a thought for anybody still holding a bag.
Elsewhere, Errawarra Resources generated some attention this week as the company moves to rebrand itself as West Coast Silver and get drilling on-site its Elizabeth Hill project in the WA’s sought after Pilbara region. While that mining province is better known for gold, the company are hoping to replicate high grade discoveries underground suggested by some surface samples. Good luck to the team, and to shareholders.
Finally, Provaris Energy – the only company on the ASX building a shipping tanker capable of transporting hydrogen – this week floated an interesting idea: what if it went into carbon capture instead? The company outlined in a deck this week that it could handle liquefied carbon dioxide, presumably to be exported to some kind of storage facility elsewhere, unless somebody wants to buy the stuff. An ambitious prospect to be sure, but perhaps an idea that could gain traction.
And so what of the most discussed stocks?
A basket of uranium stocks including Deep Yellow, Boss and Bannerman Energy respectively, Silex Systems and more have been volatile this week but ended Friday on a good note as Trump is thought to be soon signing an executive order to boost the USA’s domestic nuclear energy industry. In between the lines, unsurprisingly, is a geopolitical narrative: the US is trying to match China’s pace in that sector.
Elsewhere, a megathread for Imugene Limited remains popular. The HotCopper favourite biotech stock recently issued a letter to shareholders outlining that concerns around the company’s high cash burn were valid, but that for a biotech company, such things are normal. Users continue to digest that sentiment, both the loyal and the skeptical. But it can be a dangerous game to be a skeptic on certain HotCopper threads.
Finally, heavily shorted retailer James Hardie was slammed this week after its latest financial report showed net profits down -17% and the company’s CFO cited “challenging macro conditions.” But perhaps most damaging is the stock hardly touched on its controversial AZEK acquisition, or at least not in a way that mattered. Most commentary around the buyout was perhaps fatally optimistic in the way only corporate speak can achieve; despite the fact the deal is worth around the same price as its market cap.
That’s HotCopper Highlights for this week, I’m Jon Davidson, have a great night and we’ll see you on Monday.