Kick Back: The 10 biggest stories you might have missed on Stockhead this week
Link copied to
Enjoy your long weekend South Australians, New South Welshmen, Queenslanders and … Canberrans. Cranberryians?
Whatever. Here are all the important bits what you might have missed on Stockhead this week, and others didn’t, but liked the best.
Overall, it was not a good week for poor Suda Pharmaceuticals (ASX:SUD).
The mouth spray biotech dropped 33 per cent on Tuesday after the Australian Therapeutic Goods Administration declined the company’s appeal to have its anti-malaria mouth spray approved.
Suda still has “more irons in the fire than a gold rush era blacksmith”, says columnist Tim Boreham.
But while it shows far more promise than its penny-dreadful status – and $14 million market capitalisation – would suggest, at this stage it’s hard to glean a holistic picture of likely long-term revenues and profits.
“And quite frankly, unexplained and abrupt CEO departures are unsettling,” Boreham writes.
A number of recent mineral discoveries by juniors is setting investor pulses racing – the latest coming from Alkane Resources (ASX:ALK) at Boda in NSW’s Lachlan Fold Belt and that 40 per cent copper hit at Stavely Mineral’s (ASX:SVY) Thursday’s Gossan property in western Victoria.
So which junior might be next? Barry has a feeling that Paterson Province based Encounter Resources (ASX:ENR) is on the right track.
+$1.2bn market cap Clinuvel (ASX:CUV) isn’t a small cap by any stretch, but you loved this story anyway.
It’s an unusual day in recent trading when shares in biotech stock Clinuvel haven’t risen or fallen by anywhere between 2 to 4 per cent. That’s probably because there’s a decision due October 8 from the Food and Drug Administration (FDA) — the gatekeeper for Clinuvel to gain access to the critical US market.
Broker Moelis says the FDA’s decision remains a “key catalyst” for Clinuvel shares.
Will Pantoro unravel the Norseman enigma?
Few Australian goldfields have offered more promise than Norseman in WA, but it’s equally true to say that few goldfields have proved more difficult to tame, writes Treadgold.
That’s probably why there hasn’t been a more enthusiastic reaction by investors to Pantoro’s (ASX:PNR) Norseman adventure.
Whatever the challenges at Norseman, Pantoro has one enormous advantage that eluded earlier owners – a local gold price of more than $2,100/oz, four times higher than the $500/oz when WMC sold in 2002.
Worth it for the Highlander reference alone.
Yes, this is paid content, but it’s here because you guys loved it so much.
Probably because we asked Steve Parsons — aka managing director at gold darling Bellevue Resources (ASX:BGL) — why he’s increasing his personal stake in Swedish gold and base metals explorer Alicanto Minerals (ASX:AQI).
The dulcet tones of Garimpeiro columnist Barry FitzGerald make the top 10, once again.
In this episode Barry chats with Tony Swiericzuk, managing director and CEO of Salt Lake Potash (ASX:SO4).
Sitting fireside with Barry, the pair discuss fond Fortescue memories, the minutiae of fertiliser and the joys of talking potash at Sunday barbecues.
Stockhead has compiled a list of the top 100 small caps based on share price returns for the year to June 30. We used a cut-off of $500 million market cap.
There’s some interesting stuff in here – like the fact there’s just two resources stocks in the top 10. Have a dig.
Nine directors made trades of more than $100,000 this week and four of them came from the same company, Uniti Group (ASX:UWL).
They collectively bought $5.1m worth of shares at $1.20 each.
Based on Friday’s price of $1.48 these guys just made – a lot of money.
Another podcast, because you folks love them.
In this latest episode stock analysis veteran and lover of the oil and gas game, Peter Strachan, interviews Ansila Energy (ASX:PVD) technical director, Chris Lewis.
Tune in to hear Peter and Chris discuss the Polish gas game, Europe’s desire for energy independence and the ups and downs of natural fractures.
We’re out. See you next week.