Winners and Losers: Rare minerals explorers sink while Mayne takeover gets more time
South Australian minerals companies sank last week, having enjoyed a bull run. Meanwhile, anticipation is growing around the takeover of a major SA pharmaceutical firm.
The script flipped for rare and critical minerals investors, with four of the top five losers this week being minerals exploration firms.
Power Minerals and Resolution Minerals shares both fell by more than 20 per cent, while Archer Minerals and Hillgrove Resources slid 18 per cent and 13 per cent respectively.
It followed a bullish few weeks for those in the rare and critical minerals space, as they enjoyed positive geopolitical momentum and a growing technology stocks sector thanks to the popularity of AI. Rare and critical minerals are increasingly being sought after for production of new technology and computer chips.
Resolution Minerals, in particular, was a beneficiary in recent weeks as it made progress with its Horse Heaven mining project in Idaho, USA. Its shares were down 22 per cent this week, but remain 387.50 per cent up on a 12-month basis and 85.71 per cent over the month alone.
Amongst the winners list, Mayne Pharma rose by 15.29 per cent, recovering some of the prior week’s losses, amid news that the Australian Foreign Investment Review Board (FIRB) had extended its review of a takeover by a US suitor.
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Two weeks ago, Mayne Pharma shares fell by more than 30 per cent in just one day after it released details about a letter sent to the SA company’s suitor detailing Federal Treasurer Jim Chalmers thoughts on a proposed takeover.
The SA-based pharmaceutical business was currently embroiled in a takeover by US-based Cosette, which was trying to wriggle out of the deal.
Cosette wanted to terminate its $601 million purchase of the Salisbury-based business, which had already been approved by the courts.
On Friday, Mayne told shareholders it was notified that the FIRB extended its statutory deadline for approval to November 14, 2025.
“Many are watching this outcome for implications around regulatory barriers to inbound corporate activity – and the potential use of them to break deals,” Baker Young Limited analysts said.
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Shares in the firm remain up 10.61 per cent on the year.
The full list of Winners and Losers for the week ended November 7, 2025:
Data via Baker Young Limited analysts.
