Winners and Losers: Supreme Court bid bumps Terramin up a notch

Investors got behind mining company Terramin after it announced Supreme Court action last week over the state government’s rejection of its bid to revive the Bird in Hand gold mine.

Aug 07, 2023, updated Aug 07, 2023
Photo: Terramin.

Photo: Terramin.

But it was video game developer Mighty Kingdom that returned to the top spot last week, rising by 15 per cent and adding nearly half a million to its market value.

Terramin however rose by 8.70 per cent, and was followed by Maggie Beer, Adbri and Codan.

Investors bought into the mining company after it filed legal proceedings in the Supreme Court seeking a judicial review of Energy and Mining Minister Tom Koutsantonis’s February refusal to let it revive the historic Bird in Hand gold mine near Woodside.

The company is also claiming it was not afforded procedural fairness.

South Australian Business Index

Of the losers, Centrex saw the biggest dip – the market cap falling by just over $9 million – following the release of its quarterly activities report detailing cash outflows of more than $7 million during the 12 months to 30 June.

Rounding out the five was Micro-X, Australian Vintage, Archer Materials and Aerometrex.

Check out the top five winners and losers for the week ending 4 August below:

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