A sweet deal sealed with a big Australian miner sent a technology company’s share price soaring, while a reimagined lithium explorer with top-tier ground stormed back onto the Australian Stock Exchange.
FLASHPOINT - TRANSCRIPT
Tim - But first here's Steve Butler with the ASX Runners of the Week.
Tim - Thanks to Liquidity, for sophisticated investors.
Steve Butler - Thanks Tim,
Steve Butler - Orexplore Technologies jumped 134 per cent this week after sealing a $1.55 million deal to provide its rock scanning technology to “The Big Australian”, BHP. The company’s share price peaked at 11 cents after closing out last week at just 4.7.
Steve Butler - MetalsGrove Mining was all smiles when drill assays showed it had struck some high-grade rare earths at its Arunta project near Alice Springs. That news pumped its stock up 72 per cent to hit a high of 19 cents.
Steve Butler - Loyal Lithium’s share price doubled to hit 98 cents after field work at its James Bay ground in Canada identified a cluster of lithium-bearing pegmatites.
Steve Butler - James Bay is becoming as productive as it is picturesque, with reimagined explorer Lithium Universe also running hard after picking up ground at what is fast becoming known as a global lithium hotspot. It re-listed on Monday at 2 cents and rocketed up 230 per cent to touch as high as 6.6 cents on Friday.
Steve Butler - Just goes to show, sometimes new money is also smart money.