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 10 October, 2023

Certainly more nip in the air this week, we’re missing the warmer weather!

From the ESG space…

The EU has officially launched the first phase of its Carbon Border Adjustment Mechanism (CBAM), the world’s first carbon tariff. 

The first phase of the CBAM targets imports of emissions-intensive products, including iron, steel, cement, aluminum, electricity, fertilizers, and hydrogen.

If imported materials in these categories have higher carbon intensity (the emissions associated with producing the material) than similar EU products, the importers will have to buy certificates from the European Emissions Trading System (ETS) to cover the excess emissions.

Click here to read more.

Across markets

Australian shares are poised to extend three straight sessions of gains this morning, following a positive overnight lead from US indices. 

ASX futures were up 28 points or 0.4 per cent to 7030 near 6.50am AEDT.

Energy stocks will once again be in focus as investors continue to assess the impact of Israel’s decision to order a complete siege of Gaza, and a potential ground assault, which has sent oil prices higher.

US shares were higher to start their week with Hamas’ shock attack on Israel bolstering oil prices and lifting energy stocks including Exxon and Chevron.

Also bolstering overall sentiment were comments from two Federal Reserve policymakers seeming to signal that the recent rise in bond yields may offset the need for another interest rate increase.

Federal Reserve vice chairman Philip Jefferson said he is watching the increase in Treasury yields as a potential further restraint on the economy even though the rate of inflation remains too high.

  • On Wall St at 4pm: Dow +0.6% S&P +0.6% Nasdaq +0.4%
  • In New York late: BHP -1.4% Rio -1.2% Atlassian +1.7%
  • Tesla -0.3% Apple +0.9% Exxon +3.5% Chevron +2.8%

On bitstamp.net, bitcoin was 1 per cent lower to $US27,620 at 7.03am AEDT.

The yield on the US 10-year note was unchanged at 4.80 per cent at 1.09pm in New York. The US bond market was closed on Monday for a holiday.

Source: AFR

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Closer to Home

Young lithium bull shark Fin Resources is carving through ASX waters this morning after its maiden fieldwork program identified abundant spodumene crystals within a broad pegmatite outcrop at Cancet West in James Bay, Canada.

Big nearology feels there, just 45km west of  Winsome Resources’ (ASX:WR1) Cancet lithium deposit and 100km west of Patriot Battery Metals’ (ASX:PMT) 109.2Mt at 1.42% Li2O world-class Corvette deposit.

Then there’s the explorer’s 98km2 Ross project, close to Critical Elements Lithium’s (TSXV:CRE) Graab prospect and Nemaska Lithium’s 36.6Mt at 1.3% Li2O Whabouchi deposit – about 65km and 100km to the southwest respectively. Fieldwork has now begun at Ross targeting nine priority areas.

But regarding Cancet West, the company reports at least five pegmatite bodies have been identified outcropping across the western and eastern blocks of the area, with roughly total strike lengths of each outcrop ranging from 200-400m.

Up to 30cm long green spodumene crystals, trace lepidolite, coarse muscovite, tourmaline, blue-green beryl, coarse red garnets and megacrystic feldspars were mapped within one of the pegmatite outcrops.

Click here to read more.

Source: Stockhead


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Recent Peak Deals

Company: Alderan Resources (ASX:AL8)
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.014 +7.69%

Company: Terra Uranium (ASX:T92)
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Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.14 -6.67%

Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
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Latest Entry Price: $0.20
Today’s Price Change: $0.14 +7.69%

Company: Gold Mountain Limited (ASX:GMN)
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Today’s Price Change: $0.006 Unchanged

Company: Unith Ltd. (ASX:UNT)
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Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
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Latest Entry Price: $0.011 
Today’s Price Change: $0.008 Unchanged

Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
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Raise Amount: $1.52M
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Today’s Price Change: $0.01 Unchanged

Company: Avenira Ltd. (ASX:AEV)
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Company: Latrobe Magnesium Ltd. (ASX:LMG)
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Raise Amount: $3M & $11.5M
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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: $0.18 -2.70%

Company: iCandy (ASX:ICI)
Sector: Gaming & Digital Advertising
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Raise Amount: $1.25M
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Today’s Price Change: $0.037 Unchanged

Company: Fatfish Group (ASX:FFG)
Sector: Fintech
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Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.012 Unchanged

Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.59 Unchanged

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: $0.029 Unchanged

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: CBDDeal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.004 Unchanged

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: $0.023 -4.17%

If you would like more information on future Peak deals, please don’t hesitate to get in touch.

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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
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