Winners and Losers: BHP big wig appointment drives urban miner upwards
A South Australian miner’s appointment of a former BHP leader landed the company in the Winners list, while 1414 Degrees slid despite a major data centre contract announcement.
Shares in self-described urban mining company Iondrive shot up 20 per cent this week after the company appointed BHP’s former head of innovation as its new CEO.
Iondrive extracts critical metals from e-waste using in-house technology, addressing a potentially $92.5 billion global market.
On July 20, it appointed Dr Grant Caffery as CEO, effective August 1. In a press release, chairman Michael McNeilly said Caffey’s appointment was a “statement of intent for Iondrive”.
Shares in the firm have been rising ever since the announcement, and rose a further 20 per cent last week, placing it in the top Winners for the period.
Orpehus Uranium was the biggest Winner of the week, after announcing drilling had commenced at its Forme Project in the state’s east near Cockburn.
Shares in the company were up 22.22 per cent over the trading week.
Meanwhile, thermal energy storage business 1414 Degrees was one of the week’s biggest Losers after its shares slid by 20.63 per cent.
This was despite announcing on Monday a Heads of Agreement for a 1GW data centre with an undisclosed partner.
The partnership would see the company develop an AI data centre on the Upper Spencer Gulf in South Australia.
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It would complement the company’s master-planned industrial precinct, including an approved battery energy storage system.
According to the company’s announcement, the data centre is designed for renewable generation and storage assets, and can be picked up and relocated or replaced as the tech develops.
The full list of Winners and Losers for the week ending July 31:
Data via Baker Young Limited analysts.
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