A computer memory chip breakthrough during testing sent a technology company’s share price booming, while two small cap lithium explorers benefited from having ground next to a big player with recent success.
FLASHPOINT - TRANSCRIPT
Tim - But first here's Matt Birney with the ASX Runners of the Week.
Tim - Thanks to Liquidity, for sophisticated investors.
Matt Birney - Thanks Tim.
Matt Birney - Well 4Ds Memory jumped 142 per cent this week after tests on its new style of computer memory exceeded expectations. 4Ds’ share price peaked at 16 cents after closing out last week at just 6.6.
Matt Birney - Red Metal Ltd jumped from 7.5 to 14.5 cents when it latched onto some crazy long rare earths dill hits in Queensland, that notably, were drilled in a rather unusual geological setting.
Matt Birney - And Raiden Resources was up 107 per cent to hit 2.7 cents from last week’s 1.3 cent close after identifying 3.5kms of pegmatites in the Pilbara. Notably those pegmatites are curiously close to Azure Minerals' massive lithium pegmatite discovery.
Matt Birney - And finally, Native Mineral Resources was up 140 per cent, touching 6 cents a share after sophisticated investors backed in a capital raise to buy into a lithium project in Canada at wait for it ... 3c a share. Representing a lazy 100 per cent hike for the new money.
Matt Birney - And they also picked up a bag of free options with a 6c strike price - maybe that’s why they call them “sophisticated investors.”