NewsStocksHotCopper Trends: Red Mountain, Dataworks Group and Strike Energy Lead Monday's Most-Discussed ASX Stocks

HotCopper Trends: Red Mountain, Dataworks Group and Strike Energy Lead Monday's Most-Discussed ASX Stocks

Author: The Market Online Australia·

Key Takeaways

  • Red Mountain has commenced a 17-hole maiden drilling program at the Oaky Creek prospect within its 391 sq. km Armidale antimony-gold project in NSW, and its shares rose 11.1% to 1.0¢.
  • Dataworks Group executed a fixed-price planning services agreement with the NSW government expected to deliver roughly $536,000 in revenue over eight weeks, contingent on three milestones, with shares up 15.4% to 15.0¢.
  • Strike Energy announced an aligned gas processing solution with Hancock Energy for West Erregulla and a non-binding term sheet for up to $30 million in funding support, sending its shares 11.9% higher to 11.8¢.
  • The S&P/ASX 200 closed down 1.30 points at 9,091.00, sitting 2.21% below its 52-week high, with Silex Systems and Pantoro Gold the worst performers.
  • The Queensland government launched a Resources Workforce Plan comprising 29 actions and $159 million in budget funding for subsidised vocational qualifications to address resources sector skills shortages.
HotCopper Trends: Red Mountain, Dataworks Group and Strike Energy Lead Monday's Most-Discussed ASX Stocks

With more than 600,000 average monthly users on the HotCopper forums, individual discussions there can move markets, which is why identifying the hottest trending topics early matters for active traders. In this daily HotCopper Trends column, we break down the top Australian stocks through each trading day. The HotCopper podcast also offers in-depth discussions and insights on the biggest headlines of the week, available on Spotify, Apple, and other platforms.

Red Mountain (ASX: RMX) drew a strong following on HotCopper today after announcing that the maiden drilling program at its Armidale antimony-gold project is underway in northeastern New South Wales. A total of 17 holes are planned to test key priority targets defined by the company's extensive surface geochemical sampling program at the Oaky Creek prospect. Oaky Creek is Red Mountain's most advanced target within the 391 sq. km Armidale project, located in the Southern New England Orogen of NSW, which is considered Australia's premier antimony mineral province. Antimony has drawn heightened attention in recent years as a critical mineral used in munitions, flame retardants, and batteries, with China — the dominant global producer — having imposed export controls on the metal, boosting interest in Western supply sources. As with any maiden drilling program, results will be the key catalyst to watch, as early-stage exploration outcomes can differ materially from surface sampling indications. RMX shares rose 11.1% to 1.0¢.

Dataworks Group (ASX: DWG), a regulated gaming technology company, advanced after announcing it had executed a planning services agreement with the NSW government. Based on the current scope, the company expects the engagement to generate approximately $536,000 in revenue over an eight-week period, contingent on the successful delivery of three defined milestones. The engagement is expected to commence on 2 September 2026, will be delivered on a fixed price basis, and is intended to support project planning, technical scoping, and contract development activities. For a small-cap company, a government contract represents a revenue stream from a creditworthy counterparty, and the milestone-linked structure shifts delivery risk onto the company — worth monitoring as the work gets underway. DWG jumped 15.4% to 15.0¢.

Strike Energy (ASX: STX) climbed after announcing a major breakthrough in the commercialisation of the West Erregulla gas field in Western Australia. Strike plans to develop West Erregulla through an aligned gas processing solution with its joint venture partner, Hancock Energy, alongside entry into a term sheet for up to $30 million of funding support from Hancock Energy. Chair Nev Power said the arrangements de-risk West Erregulla's pathway to production and represent a major value inflection point for Strike, providing a clear route to unlock one of WA's largest undeveloped onshore conventional gas resources and to materially increase the scale and diversity of Strike's production and earnings base. New onshore gas supply is a focal point in WA, where domestic gas shortfalls have been flagged as an energy security concern, and the term sheet — which is not yet a binding funding agreement — remains a key document to watch as negotiations progress. STX was up 11.9% to 11.8¢.

Taking a wider view, the S&P/ASX 200 closed down just 1.30 points at 9,091.00. The index's worst performers were Silex Systems and Pantoro Gold, down 12.58% and 9.72% respectively. Over the last five days the index is virtually unchanged, and it currently sits 2.21% below its 52-week high.

Meanwhile, the Queensland government has unveiled plans to bolster the resources workforce in order to overcome skills shortages. The Queensland Resources Workforce Plan focuses on delivering practical, results-driven solutions through 29 targeted actions that align skills and training with current and emerging industry needs. Some of those actions are already being implemented, including an expansion of the Queensland Minerals and Energy Academy aimed at attracting the next generation of resources workers, and a pilot program designed to boost female participation. The government has set aside $159 million in this year's budget for subsidised vocational qualifications used across the resources sector.

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

Join the discussion: see what HotCopper users are saying right now and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Readers are encouraged to conduct their own research and consult a certified financial advisor before making any investment decisions.