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    1 December, 2023

Happy Friday!

PEAK will be hosting our inaugural Xmas party on Wednesday 13th December from 6pm at Dutton Garage in Richmond (see details below).

If you wish to attend, please RSVP to:

We look forward to seeing you there!

Across Markets…

  • The ASX benchmark has ended Friday lower, but the week higher
  • 11 of 11 sectors in the rouge
  • Small caps led by mighty diggers Mitre, Dalaroo and Perpetual Resources 

Local markets have had a sullen run of it on Friday, after US bond yields rose and tech stocks fell overnight.

Oil prices also crashed on an unhappy outcome at the headline OPEC+ meeting.

Around the traps, regional equity markets are all doing it tough on Friday.

One of the problems is the Caixin survey out of China, which has November Chinese manufacturing kicking absolute goals for factory activity.

That flies right in the face of official data released yesterday which detailed a second straight month of contraction.

The Caixin China General Manufacturing PMI rose to 50.7 last month, up from 49.5 in October, smacking market forecasts of 49.8 and pointing to the highest reading since August.

The Caixin read, miraculously, has both output and buying levels returning to growth, suggesting that Beijing’s mild recent efforts to excite the local economy are coming good – a direct contradiction of the official numbers out of the bureau of stats.

Caixin – a formerly independent Chinese financial media organisation, but now wholly state-run, also reports that business sentiment has suddenly lifted to a four-month peak.

The Friday performance of national equity markets of China’s satellite economies suggests the Caixin read is having trouble finding buyers, with most Asian markets lower near 4pm in Sydney.

After responding positively to Thursday’s official PMI’s, which suggested that Beijing may have to initiate further stimulus to promote activity, the ASX Materials sector has fallen significantly .

At home, broad-based selling has followed up Thursday’s surprise bonanza of gains. The IT sector is coming in for some heavy treatment, although at 3.45pm, the sector’s strong midweek performance still leaves it way out ahead and likely to end the last week of November – the strongest month of the year for the ASX benchmark – well ahead by more than +2%.

Elsewhere the Energy sector remains a weak point. A furtive OPEC+ has offered traders little to go on after the overnight conclusion of possibly the year’s most important meeting for the oil-producing cartel.

Members have reportedly agreed to trim output, except for Angola, which has come out in defiance of the group, led by Saudi Arabia and Russia.

West Texas Intermediate crude oil prices began today’s session in Sydney having tumbled almost 2.5% overnight to nearer US$75.00.

Source: Stockhead

Pic of the day

Local Equity News

Mitre Mining (ASX: MMC) has moved to acquire the “company-changing” Cerro Bayo silver-gold project in Chile for $5 million.

The historic project has been on care and maintenance since October 2022 after being in production for over 15 years and producing more than 45 million ounces of silver and 650,000oz of gold.

However, Mitre is investing in projects with significant upside and already in place assets.

In-depth studies have estimated that Cerro Bayo contains an existing joint ore reserves committee-inferred resource of 3.82 million tonnes at 206 grams per tonne for 24.7Moz of silver equivalent.

The project is also considered to have significant scope for rapid growth, with extensive high-grade mineralisation identified outside the current resource.

The acquisition includes more than $150 million of infrastructure, including a 500,000t per annum processing plant, extensive underground mines, power network, offices and workshops.

Click here to read more.

Source: Small Caps

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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: $0.007 +16.67%

Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.13
Today’s Price Change: $0.135 -10.00%

Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $
0.135 +3.85%

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 -14.29%

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: $0.020 -9.09%

Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.007 with 1:2 VRCOB 
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: $0.01 with 1:2 CDTOA
Today’s Price Change: $0.010 -4.07% 

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: $0.014 +7.69

Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.04
Today’s Price Change: $0.059 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: $0.175 -2.78%

Company: Excite Technology Services (ASX:EXT)
Sector: Cloud
Deal Type: Placement
Latest Entry Price: $0.005 with a 1:2 EXTOD
Today’s Price Change: $0.009 Unchanged

Company: Estrella Resources (ASX:ESR)
Sector: Mining
Deal Type: Placement
Raise Amount: $1.65M
Latest Entry Price: $0.006 with a 1:1 ESRO
Today’s Price Change: $0.006 Unchanged 

Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.395 +1.28%

Company: Sabre Resources (ASX:SBR)
Sector: Energy
Deal Type: Placement
Raise Amount: $2.6M + $700k strategic
Latest Entry Price: $0.04 with a 1:1 SBROB
Today’s Price Change: $0.036 -5.26%

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: $0.015 -6.25%

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: $0.003 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.

The trustee for Peak Asset Management Unit Trust (“Peak”) is a corporate authorised representative (#1295491) of Brava Capital Pty Ltd (AFSL #382585).
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  or by telephoning Peak on 1300 304 460 



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