Hot Stocks: Peregrine Gold, Firebird Metals, Warriedar Resources

Wall Street ended mixed on Friday as trade tensions resurfaced, with reports that former President Donald Trump is pushing for steep new tariffs on European Union goods. The Dow Jones fell 142 points, or 0.32%, while the S&P 500 dipped slightly after hitting an intraday record. The Nasdaq, however, managed a modest gain of 10 points. Corporate earnings were in sharp focus, with Netflix dropping 5% after cautioning on margins, and 3M and American Express both falling on weaker outlooks. Economic data also lent support, with the University of Michigan’s July survey showing consumer sentiment at a five-month high, and inflation concerns easing. 

Meanwhile, the ASX is set to open following last week’s 2.1% rally, SPI 200 futures pointing to a 0.56% fall. Attention now turns to key local developments, including Tuesday’s RBA meeting minutes and a Thursday speech from Governor Michele Bullock. With unemployment unexpectedly rising from 4.1% to 4.3% in June, markets are increasingly pricing in a rate cut in August. NAB and Westpac now expect multiple cuts, although some economists say the RBA may wait for quarterly inflation data before making its move.

Peregrine Gold (ASX:PGD) has announced a significant discovery of a high-grade Channel Iron Deposit (CID) at its Newman Gold Project in Western Australia. The Coopers CID Prospect stretches 6.4km and is up to 200m wide, with inferred extensions increasing the total strike to 7.7km. Rock samples returned iron grades averaging ~57% Fe and peaking above 61% Fe, with low deleterious elements. Located just 2km from BHP’s Western Ridge Project and 13km from Mt Whaleback, the discovery is considered potentially analogous in scale to CZR’s Robe River CID project, recently sold for around $75m.

Firebird Metals (ASX:FRB) has secured two key Chinese patents for its proprietary LMFP (lithium manganese iron phosphate) battery cathode materials, with four more patents pending. These patents underpin Firebird’s IP-led strategy for next-gen battery technology, integrating high purity manganese sulphate production with pCAM (pre-cathode active material) synthesis. Over 100 LMFP batches have been produced at its R&D centre, with test samples being prepared for Chinese and international customers. The company aims to capitalise on the rapidly growing LMFP market, forecast to exceed US$20bn by 2030, and is considering partially relocating test work outside China due to recent Chinese export restrictions.

Warriedar Resources (ASX:WA8) reported further wide, high-grade gold and antimony intercepts at its Ricciardo deposit (part of the Golden Range Project in WA), including 50.7m @ 5.12 g/t Au and 0.15% Sb and 13m @ 5.55 g/t Au and 0.35% Sb. These intervals surpass expectations and suggest significant mineral resource growth potential. The company is accelerating its multi-rig drilling program and plans to update its MRE model. The project is 100% owned and lies on existing mining leases with strong infrastructure access.