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Across Markets…
Australian shares closed lower on Monday as investors awaited the Reserve Bank of Australia’s interest rate decision and direction on monetary policy as the Middle East war reignites inflationary concerns.
The S&P/ASX 200 Index was down 32.7 points, or by 0.4 per cent, to 8697.10 after trading between a low of 8675.4 and a high of 8738.1. Seven of the 11 sectors were weaker with public holidays in Queensland and the Northern Territory.
The bond market has priced in an 83 per cent chance of the RBA raising interest rates on Tuesday by 0.25 percentage points to 4.35 per cent, undoing all the rate cuts the bank made last year. An expected rate rise saw the Australian dollar trade near a four-year high of US72.24¢ – shy of its 2022 peak of US72.27¢ touched on Friday.
Westpac head of AUD rates strategy Damien McColough said markets were awaiting to see the messaging from the RBA, particularly around the level of restrictiveness or what is achieved with investors split about what the next steps are.
“We expect eye-catching forecasts for inflation and that suggests a hawkish tone to the move,” he said. “As such, we would not expect the market to pare back current pricing for future meetings at all.”
McColough said a further one-to-two rate hikes is most likely given the domestic inflation outlook and global risk to expectations, but some in the market say the RBA could end tightening after Tuesday.
Against that backdrop were mixed messages from the Middle East as President Donald Trump said the US would start guiding neutral ships trapped in the Persian Gulf out through the Strait of Hormuz.
Oil steadied around $US107 a barrel as Iran warned any US interference in the strait would be a ceasefire breach and amid reports by Reuters that Iranian officials have instructed all commercial ships from any movement in the chokepoint without coordination with the regime.
Source: AFR
Nexus Minerals Advances Crusader-Templar Gold Project Towards Funded Mining Operations with MoU
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MOU signed with MGMS for funded mine development and profit sharing at Crusader-Templar.
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Permitting milestone achieved; securing processing solution is the next key hurdle.
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Continued exploration success at Wallbrook supports resource growth potential.
Nexus Minerals (ASX: NXM) has entered a non-binding six-month Memorandum of Understanding (MoU) with Macro Gold Mining Services (MGMS) to advance its Crusader-Templar gold deposit.
Under the proposed terms, MGMS—a subsidiary of Macro Metals Limited (ASX: M4M)—will fund and deliver mine development and mining operations for the Crusader-Templar open-pit gold deposit.
Following cost recovery, Nexus will receive 60% of the profit, with MGMS receiving 40%.
Discussions are now underway with third-party processing plants to secure an acceptable ore sale and purchase agreement (OPA) or toll treatment arrangement, with a final binding agreement between Nexus and MGMS anticipated once this definitive processing solution is determined.
Key permitting progress includes the native vegetation clearing permit for the Crusader-Templar gold deposit, with other essential permitting items including tenements, MDCP, and works approval noted as approved.
Crusader-Templar Resource Base
The Crusader-Templar gold deposit is part of Nexus Minerals’ 100% owned Wallbrook Gold Project.
It holds a combined Mineral Resource Estimate (MRE) of 304,000 ounces of gold at a 0.4 g/t Au cut-off, compliant with JORC 2012 standards.
To further test resource extensions and regional prospects, including Clement, Payns, and Branches, a ~22,000m Reverse Circulation (RC) drilling program is currently underway.
It is important to note that an ore reserve for Crusader-Templar has not yet been defined, indicating that technical and economic de-risking for the project is still in progress.
Wallbrook Exploration Progress
Nexus Minerals has previously reported strong exploration results across its broader Wallbrook regional portfolio, including successful aircore (AC) and RC drilling campaigns.
Earlier drilling programs that included 6,155m of RC drilling and 10,113m of AC drilling yielded high-grade intercepts and confirmed extensional growth across multiple prospects.
Currently, five prospects within the Wallbrook region—Branches, Payns, Clement, Amand, and Godfrey—are advancing towards Resource Definition drilling.
This ongoing work aims to expand the near-surface gold ounce inventory.
Permitting for the Crusader-Templar project continues to progress, with additional approvals received for its Mine Proposal and Closure Plan pathway, supporting a potential multi-stage open-pit operational concept.
Source: SmallCaps
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Performance Since Entry: +85%
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: +400%
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: +308%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +238%
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: -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: 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: +1,140%
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: +50%
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: +78%
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: +42%
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