Hot Stocks: Many Peaks Minerals, DeSoto Resources, Brookside Energy

Wall Street rallied Monday as investors welcomed Iran’s relatively restrained retaliation to US strikes, easing fears of a wider conflict in the Middle East. The Dow Jones rose 0.89% to 42,581.78, the S&P 500 gained 0.96% to 6,025.17, and the Nasdaq climbed 0.94% to 19,630.97. Iran’s missile strikes on US bases in Qatar and Iraq were largely intercepted and caused no casualties, tempering concerns about an escalation. Crude prices plunged in response: West Texas Intermediate fell over 7% to US$68.51 per barrel, and Brent crude dropped nearly 9% intraday. Former President Trump weighed in, urging low oil prices and crediting his foreign policy for the de-escalation, while analysts warned the risk of further Iranian retaliation remains, particularly around the strategically vital Strait of Hormuz.

Tesla shares surged 8% after launching its Model Y robotaxi service in Austin, Texas. The flat-fare service generated investor excitement but also drew criticism after videos showed erratic driving behaviour. CEO Elon Musk called the launch a milestone, though observers noted Tesla remains behind rivals like Waymo.

ASX futures point to a strong open Tuesday, up 64 points or 0.8%, tracking Wall Street’s gains. A late-breaking report of a ceasefire between Israel and Iran, announced by Donald Trump after the US market close, may further boost risk appetite and extend pressure on oil prices.

Many Peaks Minerals (ASX:MPK) released strong diamond drill results from its Ferké Gold Project in Côte d’Ivoire, with intercepts including 230m @ 1.2g/t Au and 79m @ 1.46g/t Au, highlighting significant down-dip and strike extensions. The company’s exploration model for a plunging, high-grade gold system is being validated, with three rigs now operating on site. Reverse circulation drilling and air core assays are pending. The results suggest bulk tonnage potential, and the program has been expanded with ongoing assays expected in the coming months.

DeSoto Resources (ASX:DES) reported encouraging shallow auger drilling results from its Dadjan Gold Project in Guinea’s Siguiri Basin, with notable intercepts such as 4m @ 7.08 g/t Au and 2m @ 7.12 g/t Au. The drilling confirmed a 3.7km gold anomalous zone at Dadjan, and exploration is ongoing at Tole and Timbakouna, with further assays pending. Management also met with Guinea’s Ministry of Mines to reaffirm compliance and support for recent reforms. DeSoto is actively expanding its exploration footprint across its 14-project landholding, aiming to generate RC/AC drilling targets for a potential +2Moz discovery.

Brookside Energy (ASX:BRK) has secured a fifth Drilling Spacing Unit (DSU) in its SWISH Play acreage in Oklahoma, boosting its development drilling inventory by 26%. The 960-acre unit lies adjacent to existing DSUs and targets the Sycamore and Woodford formations. Two horizontal wells are planned, mirroring successful nearby developments. Brookside is also assessing potential in emerging sub-plays and preparing for a possible NYSE listing. CEO David Prentice said the addition supports the company’s strategy to scale production and return capital.