Winners and Losers: Micro-X rises on US government deal
Nano x-ray tech company Micro-X added more than $20 million to its valuation after securing a $12.5 million development contract with a US government agency.
The deal, worth US$8.2 million (AUD$12.5 million), will see Tonsley-based Micro-X develop the first prototype of a CT scanner over a two-year program.
The company will develop a lightweight, portable, full-body CT scanner for the US Advanced Research Projects Agency for Health.
The deal could be worth $25 million in total thanks to a second contract to develop the CT scanner through to FDA standards over an additional three years if the Agency takes up that option.
The announcement, combined with a separate release to shareholders about the receipt of a $6.4 million R&D tax incentive, sent Micro-X shares up 70.91 per cent over the five trading days.
That landed the company in the number two spot on the Winners list, just behind NeuRizer which doubled the value of its shares despite making no announcements.
Micro-X CEO Kingsley Hall said he was “incredibly excited” by the contract to develop the portable CT scanner.
“Micro-X continues to go beyond boundaries to challenge the constraints of legacy X-ray and deliver solutions that meet the needs of customers, users and patients, and this development builds seamlessly upon the work undertaken in both Head CT and Baggage CT projects,” Hall said.
Petratherm was another Winner this week after drill results confirmed a major discovery of high-value minerals at its Muckanippie Project in outback South Australia.
CEO Peter Reid said historic drill holes indicated “favourable concentrations of high-value Leucoxene and Rutile”.
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For Petratherm, the announcement follows the discovery of titanium-rich heavy mineral sands at its project – southwest of Coober Pedy.
Koonenberry Gold topped the Losers list this week after the issue of new shares, while Vintage Energy dropped on a heavy volume of trading – the largest trading day for the company since August 9 – after Regal Funds sold 23.8 million shares (valued at $114,000).
The full list of Winners and Losers for the week ended 6 December:
Data via Baker Young Limited analysts.
