Global markets were slightly positive overnight as we await the Fed’s rate decision, with expectations that rates will remain unchanged.
The US dollar is modestly weaker, while the AUD outperformed overnight following the RBA’s decision to raise the cash rate to 4.1 per cent
Oil prices traded in a tight range, although longer dated contracts continued to push higher as the Strait of Hormuz remained largely closed…
Market Highlights
ASX 200 futures are pointing up 12 points or 0.1 per cent to 8669.
All US prices near 4.15pm New York time.
- AUD +0.5% to US71.05¢
- Bitcoin +0.6% to $US74,489
- On Wall St: Dow +0.2% S&P +0.3% Nasdaq +0.4%
- VIX -1.21 to 22.30
- Gold -0.04% to $US5004.30 an ounce
- Brent oil +3.6% to $US103.77 a barrel
- Iron ore +1.2% to $US108.80 a tonne
- 10-year yield: US 4.20% Australia 4.94%
Across Markets…
Australian shares are set to open modestly higher, bolstered by generally positive sentiment from Wall Street. Oil rose again as the US-Israeli war against Iran continued unabated.
While Israel said it had killed two more top Iranian leaders, Iranian drones struck energy facilities in the UAE and Iraq. “The prospect of a prolonged period of instability in the Middle East grows louder, irrespective of this phase of the conflict,” TD Securities said. “We are transitioning away from an ample energy environment to a scarce energy environment.”
ASX 200 futures were pointing up 12 points or 0.1 per cent to 8669 near 7am AEDT. The S&P 500 was 0.3 per cent higher in New York, fading an earlier rise, with energy stocks pacing gains in eight of the benchmark’s 11 industry sectors.
In its latest monthly survey of fund managers, Bank of America found global growth optimism slumped, inflation expectations leapt and cash holdings surged. “Geopolitics and inflation replace AI bubble as biggest tail risks.”
Nvidia closed 0.7 per cent lower as CEO Jensen Huang’s optimistic sales outlook failed to offset concerns that demand will prove as enduring as Huang thinks.
Source: AFR
ASX explorers descend on the Gawler Craton as new gold frontier takes shape
- ASX explorers are targeting SA’s Gawler Craton for its large-scale gold potential
- Barton Gold owns processing infrastructure that could support future regional production
- Neighbouring companies such as Indiana Resources, Auravelle Metals and Marmota could benefit
In 1975, the discovery of copper, gold and uranium in remote South Australia marked the birthplace of what would become BHP’s (ASX:BHP) gigantic Olympic Dam mine.
The find also revealed the presence of IOCG-style mineralised systems within the Gawler Craton: a vast geological formation covering more than 520,000km2.
Subsequent discoveries like Prominent Hill and Carrapateena cemented the craton’s standing as Australia’s premier copper belt. However, its mineral endowment is not limited to copper-dominant IOCG deposits.
Gold mining in the Gawler Craton stretches back to the late 1800s thanks to high-grade fields like Tarcoola. More recently, the Challenger gold mine churned out more than a million ounces between 2002 and 2018.
Fast forward to today and the region is once again drawing interest from ASX-listed gold explorers.
Modern exploration techniques are helping companies search beneath shallow cover that conceals much of the craton’s geology. The narrative has also shifted from isolated historical gold occurrences to the potential of regional consolidation and large-scale production.
Leading the charge is Barton Gold (ASX:BGD).
The company is establishing processing infrastructure that could help de-risk the pathway to production for other discoveries across the central Gawler Craton.
And neighbouring ASX explorers such as Indiana Resources (ASX:IDA), Auravelle Metals (ASX:AUV) and Marmota (ASX:MEU) could be set to benefit.
Regional opportunity
Barton listed on the ASX in 2021 with a strategy centred on consolidating gold mining in the Gawler Craton through a hub-and-spoke operational model.
Today, it holds more than 5000km2 of land and a resource totalling 2.25Moz of gold.
The Tunkillia deposit contributes 1.6Moz to this total. Challenger adds another 313,000 ounces and Tarcoola chips in with 20,000 more.
Barton also strengthened its resource base last year by acquiring the 279,000 ounce Wudinna project further to the south.
To read more, click here
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: +300%
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: +284%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +338%
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: +156%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +43%
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: +20%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Price Performance Since Entry: +1,020%
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: +381%
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: +193%
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: +56%
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: +54%
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
Comments are closed