NewsStocksMonday's HotCopper Trends: DXN Jumps 45.5% on $12.2M AI Data Centre Contract; Right Resources and North Stawell Minerals Gain on Gold Results

Monday's HotCopper Trends: DXN Jumps 45.5% on $12.2M AI Data Centre Contract; Right Resources and North Stawell Minerals Gain on Gold Results

Author: The Market Online Australia·

Key Takeaways

  • DXN signed a binding $12.2 million contract to design, manufacture and commission a two-megawatt AI high-performance computing modular data centre for an AI compute operator, its second such award in as many months, and its shares jumped 45.5% to 40 cents.
  • Right Resources reported the first gold identified by modern exploration at its Blue prospect in New South Wales, within an extensive tungsten-bismuth-gold system where tungsten is listed as an Australian critical mineral, and its shares rose 20.9% to 11 cents.
  • North Stawell Minerals intersected 0.4 metres at 17.1 grams per tonne gold from 98.6 metres at its Darlington prospect in Victoria, strengthening geological similarities with the historic high-grade Mariners Lodes at Stawell, and its shares climbed 20% to 2.4 cents.
  • The S&P/ASX 200 gained 56.40 points, or 0.62%, to close at 9,115.30, leaving the index 1.95% below its 52-week high.
  • A Minerals Council of Australia survey of 2,045 voters found more than two-thirds believe foreign-funded activists and social media influencers should not influence government tax policy, while 68% agreed major tax changes should be taken to an election.
Monday's HotCopper Trends: DXN Jumps 45.5% on $12.2M AI Data Centre Contract; Right Resources and North Stawell Minerals Gain on Gold Results

With more than 600,000 average monthly users on the HotCopper forums, each and every discussion can move markets, which is why staying ahead of the platform's red-hot trends matters for every trader. This daily HotCopper Trends column breaks down the top Australian stocks generating discussion through each trading day.

DXN lands $12.2 million AI data centre contract

Prefabricated modular data centre specialist DXN (ASX: DXN) continued its run of success by entering into a binding contract worth $12.2 million with an AI compute operator for the design, engineering, manufacture, delivery, installation and commissioning of a two megawatt (MW) AI high-performance computing (HPC) modular data centre.

"This contract is a significant step forward for DXN. It is our second AI HPC award in as many months, materially larger than the first," Managing Director Shalini Lagrutta said.

"This win demonstrates that the AI HPC module platform we have productised over the last three years is translating into wins across both offshore and domestic markets. Delivering two MW of high-density GPU capacity on a single site is a meaningful uplift in scale for the product line," she said.

The award lands amid a global build-out of AI infrastructure, with growing demand for high-density GPU compute driving investment in new data centre capacity. Modular facilities such as DXN's are manufactured off-site, a format designed to shorten deployment timelines for operators adding compute capacity.

DXN shares jumped 45.5% to 40.0¢.

Right Resources records first gold from modern exploration at Blue prospect

Right Resources (ASX: RRE) was popular with investors after reporting that gold had been identified for the first time through modern exploration at the Blue prospect in New South Wales. Systematic rock-chip sampling, laboratory soil geochemistry and geological mapping confirmed gold within quartz and quartz-tourmaline veins across an extensive tungsten-bismuth-gold mineralised system. Tungsten, used in cutting tools and steel hardening, is designated a critical mineral on the Australian Government's official list, adding a strategic-metals dimension to the prospect alongside its newly confirmed gold.

Managing Director Graham Howard said the laboratory results had converted what was already a large surface tungsten anomaly into a clearly defined series of tungsten, bismuth and gold targets.

"In an interpreted reduced intrusion-related system, these are the pathfinder elements expected to be present within a proximal position to the intrusive core. We now have a five km mineralised north-west trend, cross-cutting target zones and two top priority areas for further exploration identified," Howard said.

RRE rose 20.9% to 11.0¢.

North Stawell Minerals extends high-grade gold at Darlington

North Stawell Minerals (ASX: NSM) saw its share price climb after it extended high-grade gold mineralisation with drilling at the Darlington prospect in Victoria. A diamond drill hole intersected 0.4m at 17.1 grams per tonne (g/t) from 98.6m, more than 70m north of a previously reported high-grade intercept.

Executive Director Bill Reid said the two high-grade hits had strengthened the geological, structural and mineralisation similarities between Darlington and the high-grade Mariners Lodes at Stawell, located approximately six km to the south.

"The historic Mariners Lodes at Stawell are a compelling target-type for NSM exploration – with reported historic production of 740,000 to 950,000 ounces of gold at an average grade of 28-30 g/t gold," Reid said.

The Stawell district in western Victoria has been a gold-producing centre since the 1850s gold rush, providing the historic mining backdrop against which NSM is testing the Darlington trend.

NSM was up 20.0% to 2.4¢ at the time of going to press.

S&P/ASX 200 higher

Looking wider across the market, the S&P/ASX 200 was up today, gaining 56.40 points, or 0.62%, to 9,115.30. Over the last five days the index has risen 0.46% and currently sits 1.95% off its 52-week high.

Voters reject foreign-funded influence on tax policy: MCA research

Meanwhile, more than two-thirds of Australian voters believe foreign-funded activists and social media influencers should not be able to influence government tax policy, according to research conducted for the Minerals Council of Australia (MCA), the peak representative body for the country's mining industry.

MCA Chief Executive Tania Constable said a survey of 2,045 Australian voters, conducted by research firm Insightfully earlier this year, also found that 61% of Australians were aware that social media influencers and activists are not held to the same regulatory and advertising standards as journalists and businesses.

Business owners rejected foreign influence on tax policy even more strongly, with 73% disagreeing that activists and social media influencers funded by foreign groups should be able to influence government tax policy.

More than half of Australian voters agreed that social media influencers and activists are having too much influence on Australian political decision-making, with Labor voters the most likely to agree (57%).

A strong majority (68%) of voters agreed – and a third strongly agreed – that the Federal Government should take any proposed major tax changes to an election so voters can make an informed decision.

That's Monday's HotCopper Market Trends. I'm Colin Sandell-Hay – see you for close.