Hot Stocks: Andean Silver, HyTerra, EcoGraf
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Wall Street ended lower on Friday as investors locked in profits following a week of record-setting gains. The S&P 500 fell 0.29% and the Nasdaq dropped 0.40%, while the Dow inched higher by 0.08% thanks to a sharp rise in UnitedHealth. Weakness in chipmakers, including a 14% slump in Applied Materials, weighed on sentiment, alongside data showing US consumer confidence slipped in August. Even so, the major indexes all posted weekly gains, supported by softer inflation data that bolstered expectations for a September Federal Reserve rate cut. July retail sales also pointed to ongoing resilience in household spending.
In Australia, the S&P/ASX 200 is set to retreat by 0.6% at Monday’s open after closing Friday at a record 8,938.6, its fifth straight all-time high. Analysts say the rally has been fuelled by a solid start to reporting season, with many companies beating earnings forecasts. However, results from BHP, Woodside Energy, Santos and Transurban this week will be closely watched to gauge whether corporate profits can sustain the market’s momentum.
Andean Silver unearths high-grade silver-gold veins near Cerro Bayo mill
Andean Silver (ASX:ASL) has discovered multiple new high-grade silver-gold veins at its Cerro Bayo project in Chile, just 1km from the existing processing mill. Assays returned spectacular results, including samples grading up to 7,344g/t silver and 85g/t gold. The company is moving drill rigs to the new target area and may expand its fleet, while also preparing internal mine planning and restart studies. With resources already at 111Moz silver equivalent, the new finds highlight significant near-infrastructure growth potential as Andean pushes towards a restart of Cerro Bayo .
HyTerra’s McCoy 1 well confirms hydrogen and helium potential in Kansas
HyTerra (ASX:HYT) has confirmed significant concentrations of both geologic hydrogen (up to 83%) and helium (up to 5%) at its McCoy 1 well in Kansas, USA. The well, drilled to 1,695m, is the company’s deepest to date and represents a step-out from earlier discoveries. The find is notable as Kansas is already the top helium-producing state in the US. HyTerra is now converting McCoy 1 into an appraisal well to test for steady-state flows, with results to inform a broader production testing program. The exploration campaign is backed by funding from Fortescue Future Industries.
EcoGraf secures Australian patent for HFfree® purification breakthrough
EcoGraf (ASX:EGR) secured its first Australian patent covering its proprietary HFfree® purification process for graphite, extending protection for 20 years to 2041. This follows a recent breakthrough lowering purification costs by 25%, giving its process a stage-one NPV of US$282m. The technology enables environmentally friendly production of battery anode material without hydrofluoric acid, with patent protection now granted across multiple jurisdictions including the US, South Africa and Tanzania. The patent strengthens EcoGraf’s vertically integrated strategy to supply cleaner battery anode materials outside China.
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Source: Finance News Network