Hot Stocks: Boss Energy, Strickland Metals, Tivan

US markets fell on Tuesday as geopolitical tensions and weak economic data weighed on sentiment. The Dow dropped 299 points (0.7%) to 42,215, while the S&P 500 and Nasdaq lost 0.8% and 0.9%, respectively. Investor anxiety rose after President Donald Trump issued a series of social media threats to Iran’s leadership, demanding “unconditional surrender” and suggesting military targeting was imminent. Trump left the G7 summit early to convene his national security team in Washington, and the Pentagon has since deployed additional assets to the region. Oil surged more than 4% amid fears of supply disruption, with WTI crude rising above US$74 a barrel. Gold ticked higher, but Bitcoin fell 3.7% to US$103,921.

On the economic front, US retail sales fell 0.9% in May, the second straight monthly decline, while industrial production and homebuilder sentiment also weakened. These signs of consumer and manufacturing softness have increased speculation that the Federal Reserve may pivot to rate cuts later this year, though rates are expected to remain unchanged this week. Fed futures still point to two cuts starting in September.

ASX futures suggest a 32-point drop at the open, tracking Wall Street’s decline. The Australian dollar slipped to 64.76 US cents overnight, while iron ore prices fell 1.2% to US$92.90 a tonne. Bond markets were steady, with 10-year yields holding at 4.25%.

Boss Energy (ASX:BOE) announced that its Honeymoon Uranium Operation in South Australia has met FY25 production guidance, with 850,000 lbs of U3O8 drummed by 17 June. This achievement comes amid ongoing commissioning, ramp-up, and construction. Production for the June quarter rose 11% on the March quarter, though remaining output this month will be limited by planned maintenance. FY26 guidance will be released in late July. CEO Duncan Craib emphasised that production and cost targets have never been revised since the 2021 Enhanced Feasibility Study, positioning Boss to benefit from a tightening uranium supply-demand outlook.

Strickland Metals (ASX:STK) has reported thick, high-grade intercepts at the Shanac deposit, part of its 7.4Moz AuEq Rogozna Project in Serbia. Highlights include 244.4m @ 1.3g/t AuEq (incl. 82.7m @ 2.0g/t) and 132.9m @ 1.4g/t AuEq (incl. 32.7m @ 2.2g/t). The results expand high-grade zones in the western central domain, enhancing continuity and resource confidence. Seven rigs are now drilling across the project, with 12 assay results pending. The company is well-funded with over $34.8m in cash and support from a recent $5m investment by Zijin Mining.

Tivan (ASX:TVN) announced that Sumitomo Corporation has received FIRB approval to proceed with its investment in the Speewah Fluorite Project. Through its special-purpose vehicle Japan Fluorite Corporation (JFC), Sumitomo will invest an initial $5.3m for a 7.5% stake, as part of a potential $60.3m, 22.5% total investment. The funding will support a feasibility study to produce acid-grade fluorspar (>97% CaF2) for export. The FIRB approval enables the finalisation of project restructuring and is expected to lead to formal joint venture establishment in early July.