Winners and Losers: SA company’s podcast-led payday
South Australia’s listed companies experienced a steadier four days of trading last week, but one company was issued a “please explain” after outperforming the rest thanks to an appearance on a popular podcast.
Listed mining and tech companies had a solid week on the ASX, with one South Australian firm rising by more than 65 per cent in the shorter four-day trading period.
The short-lived ceasefire between the United States and Iran brought relief to the Australian market, with the ASX200 rising 4.5 per cent, recovering much of March’s overall seven per cent fall.
Oil prices fell 11 per cent for the week, while gold bounced around two per cent.
But with the US Vice President JD Vance last night announcing his nation was unable to reach an agreement with Iran, volatility is set to resume in public markets.
Green hydrogen and graphite business Sparc Technologies was the biggest riser of the week, with shares up 65.71 per cent over the four trading days despite not making any major announcements.
It received a ‘please explain’ letter from the ASX amid the boom on Tuesday, with the company saying the boom was likely due to its managing director Nick O’Loughlin participating in the ‘Making Money Matter’ podcast.
“The podcast had a strong listenership over the intervening period and may explain the uptick in price and volumes,” a statement from the board said.
Resolution Minerals was another Winner for the week, rising by 50 per cent on the back of new 3D modelling of antimony and silver-bearing veins within its US Horse Heaven project.
The company said 3D modelling and ground mapping identified more than 100 high-grade veins.
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“The modelling has revealed significant size potential which demonstrates the strategic importance of Antimony Ridge as a potential source of US domestic antimony supply,” CEO Craig Lindsay said.
Gas player Elixir Energy also saw its shares rise after announcing it had commenced feasibility work for the fastest and most economic path for its Taroom Trough gas to reach the Wallumbilla Gas Hub in Queensland.
The full list of Winners and Losers for the week ending April 10:
Data via Baker Young Limited analysts.
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