Azzet reports on three ASX stocks with notable trading updates today.
Gold Hydrogen rallies on landmark buy-in by Japanese giants
Shares in Gold Hydrogen (ASX: GHY) were up around 8% at the open after the junior explorer told the market that three Japanese giants have bought into the stock ahead of a drilling program in South Australia scheduled for later this year.
What excited the market today were revelations that Toyota, Mitsubishi Gas Chemical and Eneos Holdings plan to invest $14.5 million in the stock through a placement of 20.7 million shares at 70¢ a share - a 22% premium to Wednesday’s closing price.
Gold Hydrogen, which is chaired by former foreign minister Alexander Downer, wants to develop underground deposits of natural hydrogen and helium more economically than traditional production methods.
Today’s funding follows strong hydrogen and helium results - up to 95% and 36.9% respectively - from the company’s maiden Ramsay Project drilling on Yorke Peninsula, South Australia.
The proceeds of this strategic investment will fund further drilling and focus on evaluating long-term opportunities across the natural hydrogen and helium value chain.
Commenting on today's update, Gold Hydrogen managing director Neil McDonald told the market that today’s investment by these three Japanese giants paves the way for future opportunities including supply, purification technology, and future commercialisation pathways, including green methanol production.
“This is a landmark moment for our Company. Partnering with world-renowned leaders like Toyota Motor Corporation, Mitsubishi Gas Chemical and ENEOS Xplora validates the global significance of Gold Hydrogen’s natural hydrogen and helium potential,” said McDonald.
“Together, we will be aiming to ultimately unlock a new era of sustainable, low-emissions hydrogen and helium production at scale.”
With a combined permit area in excess of 75,000km2. Gold Hydrogen holds one granted exploration license (the Ramsay Project - PEL 687) and one application area, while its two 100% owned subsidiary companies (White Hydrogen Australia and Byrock Resources) hold an additional seven (7) applications for Natural Hydrogen and Helium exploration within South Australia.
Gold Hydrogen is also the preferred applicant for four (4) gas storage exploration licences applications (GSELA) covering an area of approximately 8,000km2 within the Yorke Peninsula portion of PEL 687 in South Australia.
Gold Hydrogen has a market cap of $99 million; the share price is down 53% over one year and up 3.33% in the last week.
The stock’s shares appear to be in a long-term bearish trend confirmed by multiple indicators.
Consensus does not cover this stock.
Pro Medicus jumps after announcing two new contracts
Shares in Pro Medicus (ASX: PME) were up over 9% at the open after the radiology powerhouse announced it had won two new U.S. contracts collectively worth nearly $200 million.
Pro Medicus' wholly owned United States subsidiary Visage Imaging signed both transaction-based contracts.
Firstly, the company announced the renewal of a five-year contract and a new Visage 7 Open Archive contract with Franciscan Missionaries of Our Lady Health System (FMOLHS), based in the U.S. state of Louisiana.
It’s understood the contract with FMOLHS has a minimum value of $20 million.
"This deal confirms our belief that there is a material opportunity for us to sell Visage 7 Open Archive to our existing base of 'viewer only' clients," Pro Medicus CEO Sam Hupert said.
"Over time, we believe those customers with on-premise implementations will join FMOLHS and a growing number of existing clients in transitioning to cloud, a trend we see continuing," he added.
Two minutes after announcing the contract with FMOLHS, Pro Medicus announced a second contract win, a $170 million, 10-year deal with UCHealth, based in the U.S. state of Colorado.
UCHealth spans a network of 14 hospitals, with affiliate hospitals, clinic locations, and health care providers throughout Colorado, Wyoming, and western Nebraska.
Pro Medicus’ cloud-based Visage 7 Enterprise Imaging Platform will be implemented throughout UCHealth and provide a single, unified enterprise imaging platform.
“They join an ever-growing list of Visage 7 clients to opt for our fully cloud-based solution, which, as a result of our CloudPACS strategy, is becoming the standard in the North American healthcare IT market,” said Hupert.
“Our pipeline remains strong and spans all market segments. There is growing interest in our 'full stack' solution comprising all three core Visage products, viewer, workflow, and archive with the added option of 'otherologies' such as cardiology.”
Based on a pipeline of recent contract wins, the stock’s share price is up 126.5% over 12 months.
Pro Medicus has a market cap of $32 billion; the share price is up 24% year to date.
Last month Morgans downgraded Pro Medicus to Trim from Add, with a price target of $250.00.
The stock appears to be in a long-term uptrend confirmed by multiple indicators.
Consensus is Hold.
WIA Gold soars after announcing best-ever gold intercept
Shares in WIA Gold (ASX: WIA) were up around 13% at the open after the gold and base metals explorer reported exceptional assay results from its Kokoseb Gold Project in Namibia, including its best-ever intercept of 50m at 12.00 g/t Au (including 1m at 528 g/t Au).
The results span the Southern, Central, and NW zones, confirming high-grade continuity and expanding the known mineralisation.
These results demonstrate the potential for substantial growth in the Kokoseb deposit, which remains open at depth and along strike, and will contribute to an updated Mineral Resource Estimate expected later this month, marking a key milestone for the company.
WIA sees strong potential for underground mining as it further defines the extent of the deposit.
Commenting on today’s WIA executive chairman, Josef El-Raghy told the market that the potential to grow Kokoseb - significantly demonstrated by what he regards as outstanding results – is underpinned by its best gold intercept to date (50m at 12.00 g/t Au).
“The Kokoseb deposit remains open at depth and along strike, with widths of consistent high grade in the Southern, Central and NW Zones. We look forward to announcing our updated Mineral Resource Estimate later this month, which will mark another important milestone in unlocking Kokoseb’s significant value,” he said.
During the quarter to 31 December 2024, the company completed a $30 million placement of 200 million new fully paid ordinary shares at $0.15 per share and held a cash balance of $37.1 million (excluding trade creditors) and zero debt.
WIA Gold has a market cap of $348 million; the share price is up 177% over one year and up 75% year to date.
The stock is in a long-term bullish pattern confirmed by multiple indicators.
Consensus is Strong Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
