Winners and Losers: Horse Heaven trots along
A major mining project in the United States is progressing as South Australian resources firms lead the stock market during the first week of the new financial year.
Resolution Minerals has reported that it is making good progress on its US mining project, announcing on the first day of the new financial year that it had completed a significant drilling project.
While the company says its antimony, tungsten, gold and silver mining project Horse Heaven in Idaho is progressing, the company was still figuring out the scale and extent of tungsten and gold mineralisation in the region.
“I am exceedingly pleased with the drill rate we are achieving at Golden Gate South,” the company’s CEO of US operations, Craig Lindsay, said.
The company rose by 28.95 per cent over the week that straddled the 2026 and 2027 financial years.
It was the third largest rise among South Australian-listed companies, following Otto Energy (up 40 per cent) and Iondrive (up 37.50 per cent).
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The Losers list was led by 1414 Degrees, which fell by 15.63 per cent in the week.
This was despite an update on the development of its battery program, with CTO Peter Yaron saying testing of the tech had delivered strong results.
And Archer Materials fell by 11.11 per cent after exiting a trading halt and entering into a strategic agreement with the world’s leading quantum platform IonQ.
IonQ is listed on the New York Stock Exchange and has a valuation of $21 billion. It provides quantum computing solutions to companies like Hyundai, Airbus, AstraZeneca and Lockheed Martin.
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The agreement gives Archer access to the IonQ tech to develop quantum algorithms, applications and solutions.
“Quantum compute power is no longer a horizon technology, but a strategically critical utility ready for commercial deployment,” Archer CEO Dr Simon Ruffell said.
“This agreement with IonQ represents an exciting opportunity to explore how Archer can help bring advanced quantum computing services to Australian customers and support developing sovereign quantum capability nationally.”
The company also raised $7 million and launched a share purchase plan to raise an additional $3 million.
Ruffell said the funding “positions Archer to execute the strategic agreement with IonQ and advance the company’s other projects to the next stage”.
The full list of Winners and Losers for the week ended July 3:
Data via Baker Young Limited analysts.
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