Winners and Losers: New appointments drive gains for SA stock market darlings
Two significant appointments were welcomed by the shareholders of South Australian listed tech and mining companies amid a disappointing week for the broader Australian market.
Appointments at PTR Minerals and Fortifai drove gains for the two companies which landed firmly in the Winners list last week.
Mining company PTR Minerals – formerly Petratherm – appointed a new non-executive director, Colin Bwye.
Bwye is a qualified metallurgist with more than 35 years of experience in the mineral sands sector.
Meanwhile, PTR promoted Rob Sennitt from executive director to managing director, and is assuming responsibility alongside current CEO Peter Reid for driving development of the company’s titanium mining project.
Shares in PTR rose 30.43 per cent over the week, making it the period’s top Winner among SA’s listed companies.
AI company Fortifai also enjoyed a rally, benefiting from optimism about artificial intelligence in the global market. Shares in the company were up 18.75 per cent.
It also appointed finance and operations leader Boris Levin as its new vice president of finance.
Other Winners included Barton Gold (up 19.74 per cent), Chrysos Corp (up 18.20 per cent) and Terramin (up 10 per cent).
But the broader Australian market logged declines on four of the five trading sessions last week – the largest of which was on Friday to close out the week with a 1.6 per cent loss.
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Green energy company 1414 Degrees was the biggest Loser of the SA companies, falling 16.39 per cent in the week.
It was followed by Papyrus Australia (down 11.11 per cent) and Magnetite Mines (down 10.53 per cent).
The full list of Winners and Losers for the week ending August 14:
Data via Baker Young Limited analysts.
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