A couple of big news items!
The U.S. House of Representatives on Monday passed a ban on imports of Russian uranium as lawmakers seek to add pressure on Moscow for its war on Ukraine, though the measure has waivers in case of supply concerns for domestic reactors.
In other news….
After falling for most of the year, graphite prices finished November either marginally higher or flat – just as China commenced its export restrictions.
ASX:VRC, ASX:MLS, & ASX:SYR with deposits outside of China in focus.
Watch this space (see pic below).
Across Markets…
The Australian sharemarket advanced in late trading, led by sharp gains in the interest rate sensitive stocks.
The benchmark S&P/ASX 200 index added 0.5 per cent, or 34.4 points to 7233.4 points near 2:30pm AEDT, buoyed by the information technology and consumer staples sectors. The All Ordinaries rose 0.5 per cent.
Technology stocks were among the best performers, climbing 2.3 per cent. WiseTech rallied 2.8 per cent and Xero up 4.2 per cent.
There was a lacklustre session on Wall Street overnight as investors stayed on the sidelines ahead of key US inflation that will help gauge whether the US is done with raising interest rates.
“There’s so much to come over the next few days, which could determine how markets end the year and start 2024,” said Craig Erlam at Oanda. “The Federal Reserve decision on Wednesday is unlikely to be controversial, but the forecasts, dot plot and press conference that accompany it may well be.”
Stocks edged up ahead of tonight’s US CPI data (Wednesday AEDT) and the Fed’s last meeting of the year on Thursday. The S&P 500 rose 0.4 per cent, Nasdaq was up 0.2 per cent and the Dow Jones added 0.4 per cent.
The only market move of note was bitcoin, which tumbled 7.5 per cent to below $US41,000, following a rally of more than 150 per cent this year.
In commodities, oil steadied just above a five-month low with oversupply concerns in focus after OPEC+ pledges to extend and deepen output cuts failed to halt a slump in prices. Global benchmark Brent traded around $US76 a barrel after rising 2.7 per cent over the prior two sessions.
Source: AFR
- Maiden drilling has commenced at the Pharos project in the Murchison
- Scorpion Minerals managing dual exploration programs across its key WA lithium assets
- Maiden resource for Younami project expected early next year
Special Report: Scorpion Minerals has kicked off maiden lithium-focused drilling at its Pharos project in Western Australia’s Murchison district.
While one side of the business is focused on delivering a maiden resource for its key WA lithium asset – Youanmi – early next year, the other side of Scorpion Metals (ASX: SCN) has launched into a RC drilling program of up to 10 holes at Pharos, about 60km northwest of Cue.
Drilling will target outcropping LCT pegmatites at Poona East and Poona West where historical surface sampling returned values up to 2.99% @ Li2O.
Initial geological mapping by SCN confirmed extensive stacked LCT pegmatites at Poona, including individual pegmatites up to 1km long and surface exposures which suggest widths of 5-15m.
The company is also encouraged by what it described as “poorly targeted” RC drilling completed by previous explorers. Historical results include 9m @ 0.77% Li2O, 9m @ 0.29% Li2O and 3m @ 0.49% Li2O.
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: $0.005 Unchanged
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.13 with 1:1 T92O
Today’s Price Change: $0.12 +14.29%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.13 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: $0.005 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: $0.019 Unchanged
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: $0.008 +33.33%
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: $0.009 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: $0.04
Today’s Price Change: $0.059 +1.79%
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: $0.185 +15.63%
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: $0.007 Unchanged
Sector: Mining
Deal Type: Placement
Raise Amount: $1.65M
Latest Entry Price: $0.006 with a 1:1 ESRO
Today’s Price Change: $0.005 +25%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.35 -4.05%
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: $0.028 +3.7%
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: $0.014 Unchanged
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
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.022 -4.35%
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