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Flashpoint - Edition #26

Updated: Jul 28, 2023

A drone package that will end with the US Department of Defence sent a tech company flying on the ASX last week, while a Geraldton garnet hunter became a “heavy” hitter and a Ravensthorpe explorer went bang.


Tim - But first here's Matt Birney with the ASX Runners of the Week.

Tim - Thanks to Argonaut

Matt Birney - Thanks Tim

Matt Birney - Well Israeli tech company Mobilicom took to the skies this week with a 462 per cent price hike after locking down a big order for its drone telemetry system that will end up with the US Department of Defence. Its stock peaked at 4.5 cents – up from last week’s close of just point 8.

Matt Birney - Perth based Heavy Minerals Limited boosted its garnet rich mineral sands resource near Geraldton by 23 per cent and was rewarded with a share price spike to 39c after closing out last week at just 11.

Matt Birney - NickelSearch went from 5.4 cents to 12 this week after pulling up some drill core near Ravensthorpe showing massive nickel sulphides.

Matt Birney - And finally, West Wits Mining doubled on news that a South African Government owned financial corporation is considering debt funding part of its Witwatersrand Basin Project in South Africa.

Matt Birney - Which isn’t a bad place to go gold mining either given that South Africa’s Witwatersrand Basin has churned out an eye-watering 1.5 billion ounces of gold over time - or put differently, 22 per cent of all the gold ever produced in the world.


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