A $666 million increase in market cap value in just one week and a new nickel sulphide discovery in WA that gives cause for pause. Also a takeover at a 59 per cent premium – of a profitless company.
Brought to you by CPS Capital
FLASHPOINT - TRANSCRIPT
Tim - But first he's Matt Birney with the ASX Runners of the Week. Thanks to CPS Capital
Matt Birney - Thanks Tim, well cosmetic clinic operator Vita Group took an 83 per cent flight up to 15 cents from just 8.2 last week, after the profitless company received a takeover offer at a 59 per cent premium and agreed to sweeten up its shareholders with a special dividend.
Matt Birney - Recharge Metals vaulted 59 per cent to 17 and a half cents following a successful land grab, in what has become one of the world's hottest lithium districts, the James Bay Region of Quebec in Canada.
Matt Birney - Recently listed explorer Dynamic Metals had some extraordinary early success with the drill bit after hitting up to 30 meters of nickel sulphides near Kambalda in what looks to be a new nickel discovery, something of a rarity these days. Its stock was up 48 per cent.
Matt Birney - And finally Neuren Pharmaceuticals went nuts when it secured FDA approval for its drug design to treat a neurological disorder. Its market cap storm the barricades to put on an extra 666 million dollars in value for the week.
Matt Birney - 666 is a course the mark of the beast and that was certainly a beast of a performance