What a game on right now… Can the Pies hold on?
Across Markets…
The Australian sharemarket fell for an eighth straight session on Thursday as oil hit $US126 a barrel on renewed concerns over the Strait of Hormuz and an escalation in the Iran war.
The S&P/ASX 200 Index fell 21.20 points, or by 0.2 per cent, to 8665.80, trimming its gain for April to 2.2 per cent and extending its longest losing streak for the gauge since 2018.
Oil surged to a fresh wartime high above $US126 a barrel on Thursday after Axios reported that US President Donald Trump is weighing new military options in Iran. Earlier, Trump told the same publication that he would maintain a naval blockade of Iran’s ports until Tehran agrees to curb its nuclear program.
“Markets have been pricing for nine weeks that this will be resolved in two weeks … and we’re still no closer,” IG market strategist Tony Sycamore said. “The ASX needs to see a resolution, otherwise, our energy security concerns, along with Asia’s, remain paramount, and it does really weigh on sentiment and is acting as a handbrake on any gains.”
On the ASX, consumer staples dropped after Woolworths warned that rising fuel costs would impact earnings. It said full-year Australian food earnings before interest and tax would now rise in the mid to high single-digit range. The shares dived 7.8 per cent to $34.39 while its supermarket rival Coles lost 3.6 per cent to $22.11.
A weaker gold price weighed on the mining sector as Newmont fell 2.1 per cent to $150.32 and Evolution Mining 5.3 per cent to $11.90. Mineral Resources bucked the trend, rising 3 per cent to $63.71 after it upgraded full-year production guidance from stronger volumes and improved operating momentum.
Technology was the strongest sector on the ASX after a string of robust results from the US giants, including Amazon and Microsoft. WiseTech Global rose 3.4 per cent to $42.72 and NextDC added 1.7 per cent to $14.24.
The big four banks were also higher led by a 1.3 per cent uplift in ANZ to $36.65, while the index’s largest stock – Commonwealth Bank – added 0.9 per cent to $173.66.
Source: AFR
TG Metals top of the heap leach as it chases low cost WA gold|
- TG Metals eyes massive WA gold opportunity with heap leach
- H3 Energy reaps fresh capital from the oil & gas rush for domestic supplies
- China’s grip on dual use metals boosts economics of NSW scandium project
TG Metals (ASX:TG6) Closed up 14.3% as golden recoveries from laterite resources signal a near-term cashflow opportunity at Van Uden.
Located in WA’s Southern Cross-Forrestania Greenstone Belt, 90km east-northeast of Hyden and 120km south of Southern Cross, the laterite resources at Van Uden have seen rapid gold recoveries in testwork.
“Achieving 88% gold extraction after 35 days is a remarkable result,” TG Metals CEO David Selfe said.
“These initial results from the column leach testwork are exceptional and give us a high level of confidence of favourable outcomes for a heap leaching operation on over one million tonnes of laterite within the Van Uden gold deposit.”
The idea is this could generate quick and low-cost cashflow. The current laterite resource is 1.05Mt at 0.52g/t for 17,700oz. 15,900oz of that is indicated.
The ASX’s cops generally frown on ‘in-ground valuations’, but for a $20m market capped company and at A$6400/oz spot gold, the opportunity is intriguing from the back of an envelope.
Testwork is being planned on so-called transitional material between the oxidised layer and the fresh rock below – modelled to contain 1.855Mt at 1.05g/t for 62,400oz, 38,300oz of that indicated.
Being at surface and with no waste removal required for extraction, the laterite could be low-cost. A potential onsite facility means no transport costs.
“This delivers low mining costs, coupled with the low upfront capital and operating costs associated with heap leach processing,” Selfe said.
“We also expect the transitional zones of the Van Uden resource will be amenable to the same process and metallurgical testwork on this mineralisation type will be undertaken.
“The final recoveries will be provided when the full leach cycle is completed, anticipated to be another three weeks under leach.”
The metallurgical testwork will be used to design and engineer heap leach infrastructure for onsite installation and progress mining proposal.
Watch this space.
TG6 estimates study outcomes to be concluded in Q2 2026 and a final investment decision to be made in Q3.
Source: SmallCaps
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Performance Since Entry: +69%
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: +414%
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: +316%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +288%
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: +131%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: -8%
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: -33%
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: +1,126%
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: +188%
Sector: Blockchain
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.02 with 1:1 option $0.08 strike
Price Performance Since Entry: +80%
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%
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Price Performance Since Entry: +44%
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: +46%
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