We’re looking forward to our continued support of Tino Guglielmo and the entire Bass Oil Limited (ASX:BAS) team!
We co-managed the $3,000,000 placement and co-invested on the same terms as investors.
Bass is advancing a portfolio of gas and oil projects across Australia and Indonesia, with a strategy focused on increasing near-term production and establishing a position in the East Coast Australian Gas Market.
Well done to everyone involved!
Market Highlights
ASX 200 futures are pointing up 66 points or 0.8 per cent to 8646.
All US prices at 4.20pm New York time.
- AUD +1.3% to US70.71¢
- Bitcoin +3.3% to $US74,016
- On Wall St: Dow +0.8% S&P +1% Nasdaq +1.2%
- VIX -3.62 to 23.57
- Gold -0.1% to $US5016.30 an ounce
- Brent oil -3.1% to $US99.96 a barrel
- Iron ore -0.01% to $US107.70 a tonne
- 10-year yield: US 4.22% Australia 5%
Across Markets…
Australian shares are poised to open higher. The local dollar rallied more than 1 per cent as the greenback fell as oil prices eased. The Reserve Bank is expected to lift the cash rate on Tuesday.
ASX 200 futures were up 66 points or 0.8 per cent to 8646 near 7am AEDT. Tech advanced, helping to pace Nasdaq 1.2 per cent higher at the closing bell in New York. The S&P 500 advanced 1 per cent with information tech pacing all 11 industry sectors higher.
In a note, Morgan Stanley equity strategists led by Michael Wilson said: “The bar remains high for the oil spike to threaten the business/earnings cycle. While we can’t rule out modest downside in the near term if the rate of change on crude/the [US] dollar accelerates further, we maintain our view that this correction is closer to its ending stages in time and price.”
Wilson said his team’s “constructive” view on the next six to 12 months remains intact. “The main reason is that the earnings acceleration is continuing and that the current set-up looks very different than prior late-cycle periods when an oil spike ended the business cycle.
“Specifically, earnings growth for the S&P 500 is +13 per cent and accelerating today whereas it was decelerating & entering negative territory in those periods. In addition … oil spikes that have ended cycles were about 100 per cent year-over-year whereas this one is currently around 40 per cent.
“Finally, we have significant fiscal support today and clear momentum in the business cycle. We think about risks in rate of change terms: pace of the crude move accelerates higher, tanker flow through the Strait of Hormuz doesn’t pick up, dollar/bond yields continue to rise.”
Source: AFR
FIN Resources starts drilling high-grade Cabin Lake gold project to follow-up historical hits
- 1500m drilling program underway at Cabin Lake gold project in Canada’s Northwest Territories
- Following up on high-grade intersections including 31.4m grading 15.2g/t gold
- Project in proven Archean Slave Craton near historical Lupin mine that yielded 3.3Moz
Special Report: FIN Resources has embarked on maiden drilling at the Cabin Lake gold project in the Northwest Territories, Canada, after completing its acquisition in late February 2026.
The planned 1500m diamond drilling program is designed to follow-up on previous high-grade intersections such as:
- 31.4m grading 15.2g/t Au from a down-hole depth of 17.49m;
- 19.9m at 8.5g/t Au from 24.69m; and
- 13.6m at 7.3g/t Au from 41.19m.
Drilling will test priority mineralised zones that FIN Resources (ASX:FIN) identified through integrated geological interpretation, reprocessing of historical data and a recent technical review.
Field operations are fully mobilised with camp infrastructure, drilling equipment and logistical support established on site.
“The commencement of drilling at Cabin Lake marks an important milestone for FIN as we transition from acquisition and technical review into active field exploration,” director Jason Bontempo said.
“The team has completed mobilisation successfully and we are pleased to now have the drill rig turning on what we consider to be a highly prospective gold system within the Bugow Iron Formation.
“This initial program is designed to systematically test priority zones identified through our geological reinterpretation and technical work completed over recent months.”
Cabin Lake project
The Cabin Lake project sits within the Archean Slave Craton, one of North America’s most prolific greenstone belts.
It contains the Bugow Iron Formation – a prospective banded iron formation akin to the gold-bearing stratigraphy hosting the historical Lupin gold mine in neighbouring Nunavut.
Some 3.3Moz of gold grading more than 10g/t was previously mined at Lupin.
The structural and geological similarities to other gold systems in Canada and the presence of multiple untested targets highlights the potential for the company to make new discoveries at Cabin Lake.
A recent site visit also uncovered multiple historical drill holes containing zones that were never assayed, despite visual similarities to known high-grade gold intervals.
Results are pending for a subsequent sampling and re-assaying program, which could convert four separate mineralised areas into one broader and continuous ore zone.
Source: Stockhead
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Performance Since Entry: +100%
Company: Eden Innovations Ltd (ASX:EDE)
Sector: Construction/Clean Energy
Deal Type: Shortfall
Latest Entry Price: $0.035 with 1:2 option, strike $0.07
Price Performance Since Entry: +314%
Company: Tasman Resources Ltd (ASX:TAS)
Sector: Gold/Silver/Mining
Deal Type: Placement
Latest Entry Price: $0.0125 with 1:2 option, strike $0.02
Price Performance Since Entry: +300%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +375%
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Price Performance Since Entry: +161%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +38%
Company: Biotron Ltd (ASX:BIT)
Sector: Biotech
Deal Type: Placement
Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Price Performance Since Entry: 0%
Company: Eclipse Metals Ltd (ASX:EPM)
Sector: REE
Deal Type: Placement
Latest Entry Price: $0.015
Price Performance Since Entry: +33%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Price Performance Since Entry: +1,037%
Company: Dimerix Ltd (ASX:DXB)
Sector: Biotech
Deal Type: Rights Issue
Raise Amount: $800,000
Latest Entry Price: $0.08 with 1:1 option, strike $0.126
Price Performance Since Entry: +338%
Company: Noviqtech Ltd (ASX:NVQ)
Sector: Blockchain
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.02 with 1:1 option $0.08 strike
Price Performance Since Entry: +5%
Company: Critica Limited (ASX:CRI)
Sector: REE
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.0075 with a 1:1 CRIO
Price Performance Since Entry: +207%
Company: Patagonia Lithium Ltd (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Price Performance Since Entry: +67%
Company: Kalgoorlie Gold Mining Ltd (ASX:KAL)
Sector: Gold/Mining
Deal Type: Placement
Raise Amount: $2.3M
Latest Entry Price: $0.026 with 1:2 option $0.032 strike
Price Performance Since Entry: +65%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs. Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances. If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au or by telephoning Peak on 1300 304 460
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