Source : THE AGE NEWS
By James Pearson
This week’s batch of Riders bucked the broader pattern with strong benefits, led by reports of an AI package, a copper mine consolidation, and a long-awaited FDA approval. The United States Dow Jones has endured a 10-day losing streak – its worst since 1974.
This year’s Bulls N ‘ Bears ASX Runner of the Week is … icetana.
icetana ( ASX: ICE )
129 per cent up ( from 1.7c to 3.9c )
This month, movie analytics solution provider icetana is taking the top spot on the Runners of the Week floor.
After partnering with Malaysian-based AE Security System to secure a handy artificial intelligence ( AI ) video security deal in Asia to provide AI-driven video analytics for 1 Utama, Malaysia’s largest shopping mall, Icetana leapt out of the starting gate on Monday and charged straight to 3.9c on the largest share turnover in more than a year.
Billed as Software-as-a-Service ( SaaS), the$ 465, 000 contract- its first in Malaysia- stretches across three years and will add$ 155, 000 per year to the company’s recurring revenue. The program rollout is anticipated to begin the first quarter of this year.
The main focus of icetana’s technology is on the use of artificial intelligence to revolutionize safety surveillance in high-volume, high-traffic retail settings like sports fields and shopping centers. The bank’s AI system makes tracking easier by understanding what’s “normal” for each cameras and displaying unusual activity in real time, reducing human adjustment and increasing efficiency.
It claims that the offer strengthens its existing network, which currently supports more than 16, 000 cameras at 75 locations in 15 countries, and expands its international presence through its cutting-edge approach to intelligent surveillance solutions.
After locking down a bargain to give AI-generated security analysis to Malyasia’s largest shopping center, icetana captivated the business this week with a 129 percent share price increase.
Black Dragon Gold ( ASX: BDG)
108 per cent up ( from 2.5c to 5.2c )
Taking the gold on this year’s Runners floor is Black Dragon Gold and with it, the weekend’s biggest secret.
One of the biggest uninhabited metal jobs in Europe is the high-grade 1.5 million-ounce Salave golden project in Spain, which is operated by Black Dragon. However, it had its early Christmas present severely ruined at the beginning of the month when the Tapia de Casariego Town Council rejected the business ‘ application for land rezoning.
The share value duly halved from 3.1c to 1.6c on the sorrow. That would typically get the story’s conclusion until a business, like Black Dragon, decides to challenge the determination and possibly win it over.
The difference is that, on the day the company received the disappointing news, the share value began to rise gradually but steadily. On Wednesday, the price increased by 80 % to 4.5 cents on large quantities and no fresh information. On Friday, the property peaked at 5.2c.
Although this is currently unqualified talk, the rumor mill is currently rifling with information about a proposed European-wide change to the legislation that would limit local councils ‘ actions to prevent developments if they were viewed as proper to the European Union.
As however, the ASX hasn’t comea’knocking, but unless some clear announced is released immediately, the secret may remain unresolved.
Patriot Lithium ( ASX: PAT )
84 per cent up ( from 3.1c to 5.7c )
Patriot Lithium, who is currently in third place on the Bulls N’ Bears ‘ Runners list, decided to move its investigation focus away from lithium and onto metal exploration in Africa.
The punters were on the shop early on Monday, referring to its acquisition of a proper 80 per cent joint venture involvement in the very envisioned Kitumba 27715 metal project, which pushed the share price up 30 per cent to 4c at one point.
Subsequent news, 24-hours later, of high-grade assays at the project including 4.45 per cent copper and 2.59 grams per tonne ( g/t ) gold really got the squark boxes chirping, cranking the share price to a high of 5.7c. This represents an 84 per cent start-to-peak performance.
Spanning an impressive 255 square kilometres, Kitumba 27715 sits just 2km south of some of Zambia’s earliest copper mines, Sable Antelope or Hippo, which were both discovered in the late 19th century. The region from which the 1906 copper rush came, and from where Zambia earned its well-earned reputation as the world’s then copper capital.
The project is also highly strategic because it revolves around Sinomine’s Kitumba copper deposit, which is being funded by US$ 600 million to produce 50, 000 tonnes of copper annually.
The decision to shift its exploration focus away from being overly lithium-centric is perhaps another factor contributing to Patriot’s share price’s uptick. Anything that distracts attention from that underperforming sector may be seen as a relief because the lithium space has not been a happy hunting ground for investors in the past year.
Mesoblast ( ASX: MSB )
67 per cent up ( from$ 1.84 to$ 3.09 )
With a loud cheer, Mesoblast also had a standout week taking out the final spot on this week’s Runner’s list of the best performers.
In a groundbreaking moment for children’s health in the USt, the US Food and Drugs Administration ( FDA ) yesterday gave the green light to Mesoblast’s Ryoncil for mesenchymal stromal cell therapy, a treatment for reducing the incidence of bone marrow rejection during and after transplant, especially in children, as young as two months.
On the news, the stock, which had a massive turnover of 57 million shares, soared as high as$ 3.09 or 67 per cent, predicting a downward trend.
Ryoncil, administered intravenously, demonstrated an impressive 70 per cent overall response rate by day 28 in children with severe grades of the condition, massively improving survival outcomes.
It’s not surprising that the Mesoblast share price soared as much as it did with the nearly 10,000 allogenic bone marrow transplants that were performed annually in the US with high mortality rates and limited treatment options given that hundreds of children were receiving the procedure each year.
The four runners this week have come from a wide range of industries, which may be a sign that the market is cooling as we approach Christmas, or that there are still many good stories out there that still appeal to punters in the midst of such a depressing week for the global bourses.
All the staff at Bull N ‘ Bears would like to wish our readers a happy, safe, and enjoyable Christmas and New Year by signing off ahead of festivities the following week.
As they say in the classics, onwards and upwards.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com. au
