Winners and Losers: Terramin keeps rising on zinc move
In a quiet week for SA companies on the stock exchange, a local miner added more than $60 million to its valuation.
Terramin Australia shares rose 50.91 per cent over the trading week, adding about $64 million to its market capitalisation.
The firm remains a beneficiary of interest in its expanded zinc plans. The week prior, it announced it had completed the acquisition of all the land which covers the footprint of the Tala Hamza Mining Permit in Algeria.
That purchase allowed the firm to officially commence work on the project.
Terramin was also a Winner last week, rising by 31 per cent over the five days to 18 October.
It was relatively quiet for the other Winners this week, which included Investigator Resources which finished up 16.28 per cent.
AML3D, Mayfield Group and Marmota rounded out the week’s Winners.
There was also little Australian domestic economic data for investors to tap into during the week, but all eyes will be on September Quarter CPI figures – to be released on Wednesday.
These numbers are the final influential piece of data to come out before the Reserve Bank meets on Melbourne Cup day to make a call on interest rates. Listed firms will be hoping for rate cuts to ease the pressure on consumers who are buying less as the cost of goods rises.
The US election also draws near, which could send some ripples through local markets this week.
As for the Losers, there was little news except from Australian Rare Earths which announced it had commenced drilling at its Overland Uranium Project in the Murray Basin SA.
The firm’s share price fell by nearly 29 per cent.
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Wommera Mining, Maggie Beer Holdings, Otto Energy and Archer Materials rounded out the Losers for the week.
The full list of Winners and Losers for the week ended 25 October:
Data via Baker Young Limited analysts.
