The Hyperion Metals Ltd (ASX: HYM) share price has surged to a new record high for the second consecutive day. Shares in the Aussie materials group shot 11.9% higher to $1.08 this morning after another key market update.
Why is the Hyperion Metals share price climbing?
Hyperion this morning announced a new US-focused advisory board to help drive its growth plans. The Capital Markets Advisory Board comprises a team of experts to help advance potential strategic partnerships for financing, development and operational activities.
The Hyperion Metals share price has surged higher for the second straight day on the back of the news. Key Advisory Board members include:
- Todd Ruppert, former CEO and president of T. Rowe Price Global Investment Services;
- Melissa Waller, AIF Institute president and former deputy treasurer and chief of staff for the North Carolina Department of State Treasurer;
- Andy Stewart, industry partner at Motive Partners and former co-lead of Blackrock’s Alternative Investment Platform; and
- Toby Symond, senior advisor to a number of asset managers including Coliseum Capital Management and Sweetwater Capital Partners.
Upwards momentum
The board announcement saw the Hyperion Metals share price shoot 8.9% higher to start the day, and up 11.9% at the time of writing. That pushes the company’s market capitalisation to more than $111.5 million following yesterday’s surge.
The Hyperion Metals share price rocketed 16.4% higher on Thursday after a key new partnership announcement. Hyperion signed a memorandum of understanding (MOU) with US-based Energy Fuels.
That MOU is to evaluate the potential supply of monazite sands from the Titan Project in Tennessee, USA to Energy Fuels’ White Mesa Mill in Utah for the production of rare earth products.
The news was well-received by investors who helped propel the Hyperion Metals share price higher. That strong momentum has been carried on this morning following the advisory board update from the Aussie-US materials group.
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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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