How was your week?
A rocky one on the boards.
However, it is 29 degrees here in Melb as we write this and we’re about to pop open a beer.
So not all is lost!
Enjoy the weekend.
Across Markets…
The S&P/ASX 200 fell 1.2 per cent on Friday or 80.9 points to 6900.7 points as investors worry about conflicts in the Middle East and Ukraine, with the interest rate on US 10-year government bonds briefly topping 5 per cent on Friday morning.
The fall took the market to its worst week in five, with a 2.13 per cent loss for the week.
At lunchtime on Friday, US President Biden said he plans to ask Congress for another $US74 billion ($117.2 billion) to fund the wars in Ukraine and the Middle East.
The only sharemarket sector higher on Friday was energy, which added 0.2 per cent as benchmark Brent crude futures advanced 0.7 per cent to $US93.30 a barrel.
Gold also climbed over the trading day to fetch $US1990 an ounce and set an Australian gold price record high of $3150 an ounce. While digital currency and risk bellwether bitcoin also climbed 3.3 per cent to $US29,335.
The Australian dollar edged 0.2 per cent lower through Friday afternoon to buy US63.2¢.
Gold’s move means local miners dominated the sharemarket’s leaderboard, with Evolution Mining climbing 2.2 per cent to $3.68 and Northern Star rising 1.3 per cent to $12.13.
The materials sector lost 1.7 per cent, following a 31.2 per cent collapse for lithium darling Liontown Resources, after it raised $376 million at $1.80 per share to dampen sentiment. Other lithium producers, including Mineral Resources and Allkem, dropped 2.4 per cent and 3.9 per cent in sympathy.
Next Thursday in the US September quarter gross domestic product growth is tipped to climb to 4.1 per cent at an annualised rate. While in Australia headline consumer price index inflation data for the September quarter is forecast to slow to 5.3 per cent year-on-year, versus 6 per cent in the June quarter.
Source: AFR
After a dramatic week, leading Australian lithium developer Liontown Resources (ASX: LTR) has wrapped up a major financing milestone with the successful completion of an approximately $365 million institutional placement.
The new capital raising will support the company’s development of its world-class Kathleen Valley lithium project in Western Australia and comes just days after Liontown revealed that a proposed $6.6 billion takeover by global mining giant Albemarle was withdrawn and the completion of a $760 million debt facility.
To support the $365 million institutional placement and debt facility, Liontown has also revealed it is undertaking a share purchase plan (SPP) to raise up to $45 million and that an additional $10.8 million will be raised via a non-underwritten conditional placement to billionaire mining entrepreneur and Liontown chairman, Timothy Goyder.
Managing director and chief executive officer, Tony Ottaviano, said Liontown had received strong demand from domestic and offshore institutions providing further endorsement of the Kathleen Valley project for the placement.
“The completion of the institutional placement completes the funding package to take Kathleen Valley through to first production and beyond,” he said.
“Notwithstanding the current challenging market conditions, the placement was met with strong demand and we have achieved our goal of strengthening our share register with the addition of high-quality domestic and international institutional shareholders.
Source: Small Caps
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.011 -8.33%
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.13 Unchanged
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.15 Unchanged
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.0055 +10.00%
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: $0.022 -4.35%
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: $0.008 Unchanged
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: $0.009 -5.26%
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: $0.011 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: $0.0415 -1.19%
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: $0.19 +2.70%
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: $0.035 Unchanged
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.01 -9.09%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.65 -5.80%
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: $0.028 +7.69%
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: $0.016 -15.79%
Sector: CBD
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.004 -11.11%
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 Unchanged
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
No responses yet