A beautiful morning here in Melbourne. With a bit of luck, we may string together a whole week of them!
TRADING HALTS
International Graphite (ASX:IG6) – Pending the release of an announcement regarding an upgrade to the Mineral Resource Estimate at the Springdale Graphite Project.
iCetana (ASX:ICE) – Pending news of a capital raise.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$1918.90 (-0.01%)
Silver: US$22.917 (-0.13%)
Nickel (3mth): US$20258/t (-0.56%)
Copper (3mth): US$8,223.75/t (-0.23%)
Oil (WTI): US$87.297 (+0.49%)
Oil (Brent): US$90.280 (+0.40%)
Iron 62pc Fe: US$117.50/t (-1.67%)
AUD/USD: 0.6379 (+-0.03%)
Bitcoin: US$25,817.50 (-0.31%)
Across markets
Australian shares are set to open higher, bolstered by gains in iron ore, oil and gold after the latest China data eased some concerns about the nation’s economic outlook.
ASX futures were up 7 points or 0.1 per cent to 7199 near 7am AEST.
- On Wall St: Dow +0.3% S&P +0.7% Nasdaq +1.1%
- In New York: BHP +2.8% Rio +3.4% Atlassian +3.6%
- Tesla +10.1% Apple +0.7% Amazon +3.5% Meta +3.3%
“China developments are helping global risk appetite in an otherwise quiet start to the week,” Scotiabank’s Derek Holt said.
China’s credit demand improved, deflationary pressures eased and the yuan rallied, adding to a recent trickle of signs that the economy and financial markets may be stabilising after a sharp downturn, Bloomberg reported.
Source: AFR
BDO head of global natural resources Sherif Andrawes says they could be back on the agenda in a big way from the December quarter
Demand for battery metals and gold is keeping exploration and capital raising high despite a bearish macroeconomic environment“
I think that what we’ll see is a whole lot more IPOs, a lot more companies have money raised in the space of what we broadly call critical minerals, basically battery minerals and all the rare earths.“I think that’s a trend we’re going to see in future reports, future quarters, future years. There’s no doubt there’s not enough money going into it yet and there’s going to be a whole lot more coming, that’s going to be a growth area for some time to come.”
Back in 2021 investment bankers could have closed a junior mining IPO selling shares to mourners at a wake.
As many as 105 companies entered the ASX looking for lithium, gold, copper, rare earths, graphite, iron ore and everything in between as exuberance and freewheeling cash coming out of Covid set a fire under the market. That was the most since 2007.
Within a year that flood had slowed to a trickle. But there are early signs that a taste for lithium and everything else needed for the energy transition is bringing the flow of cash back into the industry.
And one expert is predicting a big lift in the junior resources IPO market as 2023 draws to a close.
According to the latest edition of BDO’s Explorers Quarterly Cash Update, a dearth of IPOs and rise in merger activity has seen the number of companies making 5B reports fall for the first time since September 2020 from 787 in March to 779 in the June quarter.
While M & A is likely to continue, BDO head of global natural resources Sherif Andrawes says IPO interest is starting to come thick and fast, while a 111% lift QoQ in capital raisings to $2.84 billion showed battery metals demand was fuelling investment in what has otherwise been a tough business environment.
“I think in the December quarter, we’ll see quite a few IPOs all at the bottom end of the market, all sub-$10 million raises,” Andrawes said.
“Nothing substantial in this space, in the mining space, but hopefully that leads to a stronger market going into 2024.
Source:Stockhead
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.115 +19.79%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.14 -6.67%
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.007 -6.67%
Company: Unith Ltd. (ASX:UNT)
Sector: AI/ChatGPT
Deal Type: Placement
Raise Amount: $4.5M
Latest Entry Price: $0.033 with a 1:1 UNTO
Today’s Price Change: $0.025 -3.85%
Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.011
Today’s Price Change: $0.009 -12.50%
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.02 with a 2:3 CDTOA
Today’s Price Change: $0.0105 +5.00%
Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 AEVO
Today’s Price Change: $0.01 Unchanged
Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.10 with a 1:4 LMGO
Today’s Price Change: $0.048 Unchanged
Company: Askari Metals Ltd (ASX:AS2)
Sector: Mining
Deal Type: IPO
Raise Amount: $5.7M
Latest Entry Price: $0.35 with a 1:3 AS2O
Today’s Price Change: $0.225 -4.26%
Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.004 with a 1:1 option
Today’s Price Change: $0.003 -25.00%
Company: iCandy (ASX:ICI)
Sector: Gaming & Digital Advertising
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.02 with a 1:1 ICIOB
Today’s Price Change: $0.036 -5.26%
Company: Fatfish Group (ASX:FFG)
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.011 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.715 +8.33%
Company: ReNu Energy Limited (ASX:RNE)
Sector: Energy
Deal Type: Placement
Raise Amount: $1.46M
Latest Entry Price: $0.06 with a 1:1 RNEO
Today’s Price Change: $0.035 -2.78%
Company: Carly Holdings Ltd (ASX:CL8)
Sector: AI and Car subscription
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.025 with a 1:2 CL8O
Today’s Price Change: $0.017 Unchanged
Company: Avecho Biotechnology (ASX:AVE)
Sector: CBD
Deal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.0045 +12.50%
Company: ECS Botanics Holdings Ltd (ASX:ECS)
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.024 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak on 1300 304 460
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