Performance of WA Index and global indices

WA Index movement

Top performers of the month

Western Australian top performers over the past month by growth in market capitalisation

• Silver Lake Resources’ market capitalisation increased 6 percent over the month of September following the announcement the board approved access, development and production of Deflector South West corridor, extending the life of the Deflector gold-copper project.
• The market capitalisation of De Grey Mining grew 13 percent in September following commitments received for a A$100m capital raising, which will be used to fund extension and definition drilling at the Hemi discovery, as well as other regional exploration. September also saw De Grey entering the S&P/ASX 300 Index.
• Westgold Resources’ market capitalisation grew by 11 percent from August to September. The main driver of Westgold’s market capitalisation climb was the announcements of the restructure of their hedge book. Reducing hedged production levels allows Westgold to capitalise on the higher spot gold prices.

The top Deloitte WA Index Movers and Shakers in November were:

• Piedmont Lithium’s market capitalisation skyrocketed by 278 percent over the month of September on the back of signing a sales agreement with Tesla. The binding agreement is for the supply of spodumene concentrate to Tesla from Piedmonts’ North Carolina deposit. The terms of the agreement are for an initial five-year term on a fixed-price commitment, equating to approximately one-third of Piedmonts planned spodumene concentrate production of 160,000 tonnes per annum.
• The market capitalisation of Pointerra Limited climbed 81 percent over the month of September. This growth was a result of the company’s announcement which updated its annual contract value, noting growth in existing customers and the addition of new customers in the US energy utilities sector underpinning significant turnover potential.
• MyFiziq Limited’s market capitalisation surged 178 percent over the month of September, to close at $151.6 million. MyFiziq announced a binding term sheet with WellteQ, which will allow the company to expand its CompleteScan capabilities into WellteQ’s personalised digital wellness and analytics platform.