Winners and Losers: Miners dig in as Barton Gold forges ahead
A mudslide at an Indonesian mine saw investors flocking to its competitors, while Barton Gold has more than quintupled its valuation over the year to date.
Amid caution overseas about investments in artificial intelligence, Australian CPI data coming in higher than expected, and a fresh barrage of Trump trade tariffs, the standout story for South Australian stocks was in mining.
Gold hit a record high on Tuesday and silver was up more than four per cent this week. Meanwhile, critical minerals and uranium remained popular.
But the big news of the week was news of a mudslide at the Grasberg copper mine in Indonesia.
Two people were killed and five remained missing after the mudslide at the world’s second-largest copper mine, now expected to remain offline for as long as six months.
Amid concerns about the mine’s safety there were also fears about the event creating a shortage of copper, and the metal price spiked on the news. In South Australia, Hillgrove Resources rallied on the increase, but then went into a trading halt on Friday to quickly tap investors for more money via an as-yet-undisclosed capital raising.
Barton Gold was a highlight of the Winners, rising 34.54 per cent. The company is now up more than 455 per cent over the year to date.
In fact, all of the Winners this week were in mining or energy, spanning uranium, silver and copper.
A capital raise was a dilutive moment for 1414 Degrees, which was the week’s biggest Loser, down 48.78 per cent.
Meanwhile, Amplitude Energy also fell after announcing a $150 million capital raise at 24 cents, having closed at 27 cents prior to the news. It finished the week at 23 cents.
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The full list of Winners and Losers for the week ended 26 September:
Data via Baker Young Limited analysts.
