A sunny day in Melbourne to take us over the hump.
A number of face to face catch ups for the PEAK team.
Did you know…
The US has nearly 2 million MW of clean energy waiting to be connected to the grid.
The average wait time for projects can be up to 3.7 years!
See pic below for more.
Across Markets…
The ASX200 index rose +0.6% on Wednesday, taking its winning streak to four straight days.
All 11 sectors except for Healthcare finished higher as traders become more confident that the Fed is done with hiking rates. Mining, Industrials, and Discretionary sectors led today’s session.
The Aussie dollar has also bounced back to over US64c as the Fed softened its language, firming up at US64.25c at the time of writing.
The market was also buoyed after S&P Global Market Intelligence revised up its forecast of real US GDP growth for 2023 from 2.3% to 2.5%, and for 2024 from 1.5% to 1.6%.
However, the S&P revised up its near-term projections of Treasury yields, corporate bond rates, mortgage rates, and the US dollar, while revising down its near-term projection of equity valuations.
The biggest news today came from Qantas (ASX:QAN) after it announced that Chairman Richard Goyder will step down from the role next year. Goyder joins former CEO Alan Joyce, who is set to leave the airline in November.
Elsewhere in the region, Asian markets rose after China is said to be preparing for a new round of stimulus. The size of the package, which would be spent on infrastructure, could be as high as US$137bn, according to a report by Bloomberg.
Insurance Australia Group (ASX:IAG) rose after confirming that it’s on track to achieve ‘low double digit’ gross written premium growth in FY24, and meet its insurance margin guidance in the range of 13.5 to 15.5%.
Telstra (ASX:TLS) rose after announcing the acquisition of cyber security firm Versent for $267.5 million to bolster its tech services segment, Telstra Purple.
Source: Stockhead
The continued shut down of Myanmar’s controversial rare earths mining sector has sent the price of the critical metal sky high.
Led by a swarm of illegal miners, Myanmar has been one of the world’s largest producers of rare earths in recent years, with the majority of its output sent to neighbour China.
The US Geological Survey estimates that about 240,000 tons of rare earth minerals were mined globally in 2020, with China accounting for 140,000 tons, followed by the United States with 38,000 tons and Myanmar with 30,000 tons.
The country is particularly noted for the amount of highly valuable heavy rare earths that it mines, with it rated near the top of the tree amongst global producers.
Heavy rare earths play a key role in technology such as hybrid cars, fibre optics and medical devices and deemed as critical in the make-up of high-performance permanent magnets, making Myanmar’s production particularly valuable.
But that supply has dried up since the mid-year when Myanmar’s Kachin authorities elected to suspend mining activities in the state.
This led to a major spike in early September with Chinese rare earth prices reported to have reached their highest level in 20 months.
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: $0.014 +7.69%
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.135 -6.90%
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 +7.69%
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 Unchanged
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: $0.023 +4.55%
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: $0.0085 +6.25%
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: $0.011 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: $0.011 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: $0.047 +6.82%
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: $0.195 Unchanged
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: $0.037 Unchanged
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.011 -8.33%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.605 +0.83%
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 -3.45%
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 -5.88%
Sector: CBD
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.0045 Unchanged
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.025 +4.17%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
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