Happy hump day! Friday is officially within sight…
Across Markets…
The sharemarket rallied on Wednesday for the second day with investors awaiting the Federal Reserve policy statement for insights on the central bank’s interest rate path.
The S&P/ASX 200 rose 0.9 per cent, or 57.6 points, to 6838.3, but remained close to one-year lows touched earlier this week. The All Ordinaries gained 0.8 per cent. The main index dropped 3.8 per cent in October, the biggest monthly decline in more than a year.
“The ASX’s recent losses stem from global geopolitical tensions and rising yields, but more importantly, the expectation that Australia is set to see higher interest rates still,” said Josh Gilbert, Market Analyst at eToro.
Nine of the index’s 11 sectors flashed green, with real estate leading gains.
The four big banks edged up between 0.3 per cent and 0.7 per cent.
The big miners jumped, tracking stronger prices of iron ore in Asia on positive sentiment about China after Beijing vowed to strengthen efforts to reduce local debt risks.
The benchmark December iron ore price on the Singapore Exchange rose 1.2 per cent to $US120.5 a tonne. Also helping was Citi’s upgrade of its iron ore outlook to $US120 a tonne, from $US100.
Rio Tinto leapt 2.4 per cent to $120.44, Fortescue rose 2.5 per cent to $22.86, and BHP Group advanced 1.6 per cent to $45.19.
At its annual AGM on Wednesday, BHP chief executive Mike Henry said he sees “significant growth” in potash in Canada.
Source: AFR
- It’s spod-spotting a-go-go once again in James Bay as Loyal Lithium makes some big, thick finds
- TG “Tethered Goat” Metals is keeping its own recent lithium finds in the spodlight
- And Magnum is up on a zero-carbon green pig iron deal with Saudi company Midmetal
Loyal Lithium, one of several Aussie explorers in the thick of the spod-hunting action over in the battery metal hotspot of Quebec’s James Bay, is making a lunchtime (+35%) burst up the ASX on the back of an interception of the big, beautiful and thick variety.
We’re (actually it’s) talking “thick intercepts of spodumene-bearing pegmatite” at LLI’s highly prospective Trieste project.
The company’s drilling program is targeting Dyke #01, which it notes is a “large, prominent weather-resistant outcrop ridge”, with all drill holes to date successfully intercepting spodumene-bearing pegmatite.
Fourteen drill holes have been completed to date and Dyke #01 remains open in all directions with drill core displaying large and abundant spodumene crystals from surface.
Other highlighted company notes include:
Notable drilling pegmatite cumulative intercepts (apparent widths) of:
– 74.77m of spodumene-bearing pegmatite: DIS23-014
– 30.44m of spod-bearing peggie: DIS23-011
– 27.96m of spod-bearing peggie: DIS23-004
– 26.74m of spod-bearing peggie: DIS23-006
– 24.22m of spod-bearing peggie: DIS23-005
The company adds that samples are now being selected for assaying and those results are expected by January 2024.
Loyal Lithium’s MD, Adam Ritchie, said:
“We are delighted to have been able to commence this maiden drilling program just 6 weeks after the discovery at the Trieste Lithium Project.
“The geological understanding gained by this program has confirmed extensions of the spodumene bearing dyke beyond the exposed outcrop, which in turn has confirmed the possibilities of concealed extensions across the entire project.
“The visual spodumene crystals within the core are large and abundant – in line with what we’ve seen at surface across the project.”
Source: Stockhead
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.012 Unchanged
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: $0.12 -14.29%
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.006 +20.00%
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: $0.0200 Unchanged
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: $0.007 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: $0.01 Unchanged
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: $0.012 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 +2.13%
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: $0.155 -3.13%
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: $0.032 -3.03%
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.010 -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: $0.415 -32.52%
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: $0.021 +5.00%
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 +6.67%
Sector: CBD
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.004 Unchanged
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.
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