Pathkey.AI jumps 22.6% after hiring Altium's former chairman. Elixir Energy raises $5M for Taroom Trough drilling. Mount Ridley Mines reports positive metallurgical results.
Alpha Score of 57 reflects moderate overall profile with moderate momentum, moderate value, moderate quality, moderate sentiment.
Pathkey.AI (ASX:PKY) jumped 22.6% to 3.8¢ after appointing Sam Weiss, the former Altium chairman who led that company to a $9.1 billion acquisition by Renesas Electronics, as a strategic advisor. The company also raised $2.8 million through a placement cornerstoned by Weiss himself.
Weiss served as non-executive chairman of Altium from 2007 to 2024, overseeing its transformation from a small Sydney software shop into a global leader in printed circuit board design. The Altium acquisition closed in August 2024. Pathkey.AI said Weiss will advise CEO and the Chipforge team, though the company gave no further detail on his mandate.
Elixir Energy (ASX:EXR) secured $5 million in a placement to existing and new investors, backing its drilling program in Queensland’s Taroom Trough. The funds will cover downhole pressure monitoring, technical work, and observation of the Lorelle-3H well during a 60-day soak period, then the costs to restart flowing. Money also goes toward data gathering and independent reserve certification.
MD and CEO Stuart Nicholls said the raising strengthens the balance sheet at a time when industry interest in the Taroom Trough is higher than it has ever been. “Elixir holds the largest land position across every known and tested play in the Trough, and that position is attracting significant external attention,” he said. The company is evaluating options to convert that into shareholder value while continuing well testing across its portfolio.
Mount Ridley Mines (ASX:MRD) reported positive initial results from metallurgical testwork on historical drill samples from the Grass Patch Complex in Western Australia. MD and CEO Allister Caird called the results a pivotal technical milestone, saying the company’s wholly owned Selectro Process recovered HREE, LREE, scandium, and gallium from un-beneficiated material through a single leach process. “The Selectro process results validate what we believed to be true about Grass Patch, that we have a genuinely polymetallic system where all three critical minerals can be recovered from a single leach process,” Caird said.
Broader markets were weaker. The S&P/ASX 200 fell 54.30 points, or 0.59%, to 9,196.30. Seek (ASX:SEK) and Premier Investments (ASX:PMV) were the worst performers, down 13.81% and 8.63% respectively. The index has lost 0.34% over the last five days and sits 1.08% below its 52-week high.
The Australian Bureau of Statistics said it had received more than eight million household Census forms online and on paper, with well over two-thirds of households having responded. Australian statistician Dr David Gruen called the Census an incredibly important exercise for planning services and supporting communities.
For more on daily stock trends from the HotCopper forum, see our earlier coverage of Pentanet leading the trends after a 60% jump.
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