Hot Stocks: Predictive Discovery, Cobalt Blue, Origin Energy, Jade Gas

Predictive Discovery (ASX:PDI) announced that its Argo and Bokoro exploration permits in Guinea were among over 100 licences revoked by the country’s Ministry of Mines and Geology. The company had applied for extensions in 2021 and 2023 and has not yet received formal notice, but intends to appeal under Guinea’s Mining Code. The affected permits represent only a small fraction of PDI’s total resource base; critically, the core Bankan Gold Project permits remain intact and are advancing through the exploitation permit process. The news highlights ongoing political and tenure risk in the region but does not yet affect the company’s primary development asset.

Cobalt Blue Holdings (ASX:COB) has signed a contract with Glencore to supply up to 50% of the cobalt feedstock for its Kwinana Cobalt Refinery over three years. The deal will initially source 3,750 tonnes of cobalt hydroxide from Glencore’s DRC operations, with pricing linked to industry benchmarks. This supply agreement is a major de-risking step for the refinery project, which aims to produce high-grade cobalt sulphate for battery and industrial markets. Cobalt Blue is also in talks with other suppliers to meet remaining feedstock needs and has reaffirmed its commitment to ESG standards. The project is part of Australia’s broader strategy to build sovereign capacity in critical minerals processing.

Origin Energy (ASX:ORG) upgraded its FY25 Energy Markets underlying EBITDA guidance to $1.3–1.4bn, narrowing toward the high end of its prior range due to strong wholesale generation, favourable market conditions, and lower green certificate costs. However, its share of Octopus Energy earnings is now forecast as a loss of $0–100m, reversing earlier guidance, primarily due to unseasonably warm UK weather and unresolved accounting issues related to past government subsidies. Despite the downgrade, Octopus continues to grow rapidly, particularly outside the UK and in its Kraken software platform, which now serves 74 million accounts globally.

Jade Gas Holdings (ASX:JGH) has completed Mongolia’s first-ever horizontal coal bed methane (CBM) production wells at its Red Lake field. The company expects to commence dewatering and initial gas production by early June. This milestone positions Jade as the lead developer in Mongolia’s emerging gas sector, with potential applications in diesel replacement for long-haul trucking and local power generation. Commercialisation discussions are underway for both LNG and CNG sales, and Jade is considering partnerships to accelerate market access. The company sees this as a key step in Mongolia’s energy transition and in establishing a domestic, cleaner fuel supply.