Hot Stocks: Sunrise Energy Metals, Larvotto Resources, Boss Energy

Wall Street extended its rally on Thursday, with the S&P 500 closing just three points shy of a record high, lifted by easing tariff concerns, strong economic data, and continued enthusiasm around artificial intelligence. The benchmark index rose 0.8% to 6,141.02, marking a weekly gain of nearly 3% and a rebound of over 27% from its April lows. The Nasdaq Composite climbed 1% to 20,167.91, and the Dow Jones added 404 points, or 0.9%, to 43,386.84. 

Investor sentiment improved after the White House signalled flexibility around the July 8–9 tariff deadlines, fuelling hopes that the so-called “liberation day” tariffs may be delayed. Combined with a strong labour market, solid corporate earnings, and surging tech stocks, the outlook for equities has brightened considerably. Nvidia rose 0.5% to another record high, briefly pushing its market cap above US$3.8 trillion, while Meta and Alphabet also posted strong gains.

Geopolitical risks eased further as a ceasefire between Israel and Iran held, and President Trump suggested talks with Iran could occur next week. Oil prices pulled back, helping relieve inflation concerns. Weekly jobless claims in the US fell to 236,000, reinforcing confidence in the economy’s resilience. 

In Australia, the local market is set to open higher, tracking Wall Street’s gains. SPI futures are pointing up 55 points, or 0.6%, to 8588, with energy and communication services expected to lead the advance.

Sunrise Energy Metals (ASX:SRL)  announced strong results from a 125-hole drilling campaign at its Syerston Scandium Project in NSW, identifying multiple new zones of high-grade scandium mineralisation. Highlights include intercepts such as 13m at 743ppm and 7m at 884ppm scandium. The results will feed into an updated Mineral Resource Estimate and a refreshed Feasibility Study, as Sunrise targets a multi-decade mine plan. The company emphasised the strategic importance of scandium, especially given recent Chinese export restrictions, and is in discussions with potential customers in the advanced alloy and semiconductor sectors.

Larvotto Resources (ASX:LRV) has secured final approval from the NSW Department of Planning, Housing and Infrastructure for Modification 6 at its Hillgrove Antimony-Gold Mine. The approval allows Larvotto to move into final-stage financing and development activities ahead of a planned 2026 production restart. The permit enables mining and processing operations, including dry-stacked tailings and expanded processing capacity. Management described the approval as a validation of its development strategy and a catalyst for unlocking Hillgrove’s value as a globally strategic antimony and gold asset.

Boss Energy (ASX:BOE) reported that its joint venture uranium project, Alta Mesa in Texas—operated by enCore Energy—has achieved significantly increased uranium extraction rates. For the 22 days to 23 June, production averaged 2,410 pounds of U3O8 per day, with a peak of 3,705 pounds on 20 June. The site is ramping toward an annualised rate of 1.5 million pounds. Boss owns 30% of the project and is entitled to a proportional share of production. Expansion of the wellfield is ongoing, with 28 new wells recently added.