Happy Hump Day!
Good day on the boards following a strong rally in the US overnight.
We wonder how many shorts have been squeezed here…and if a Santa rally is on the cards.
What do you think?
Across Markets…
The Australian sharemarket hit its highest level in eight weeks on Wednesday, buoyed by the latest US inflation report which bolstered speculation that interest rates might have peaked in the world’s largest economy.
The S&P/ASX 200 index advanced 99.2 points, or 1.4 per cent, to 7105.9 at the closing bell. The All Ordinaries gained 1.5 per cent even as local data pointed to the fastest rate of wage growth on record for the series in the third quarter at 1.3 per cent.
The Australian dollar also surged above US65¢.
Stocks rallied around the globe after the US Consumer Price Index rose 3.2 per cent over the year through October, down from the 3.7 per cent in September and August. Compared with the prior month, prices in October were flat – the last time that happened was July 2022.
The data buoyed Wall Street, sending the tech-heavy Nasdaq up 2.4 per cent on Wednesday and the S&P 500 climbed 2.1 per cent to 4503, its highest in more than two-months.
On the ASX, 10 of the 11 industry sectors finished in the green, led by the interest rate sensitive real estate sector, which jumped 4.6 per cent. Sector heavyweight Goodman rallied 3.4 per cent to $23.55, Stockland added 6.1 per cent to $4.03, and Scentre gained 5.1 per cent to $2.70.
The mining giants were among the best performers after Singapore iron ore futures hit $US130 a tonne for the first time since March on improving demand for steel in China, which is considering a new wave of stimulus to shore up its struggling property sector.
Bloomberg reported Beijing plans to provide at least 1 trillion yuan ($137 billion) of low-cost financing to the nation’s urban village renovation and affordable housing programs.
Source: AFR
Boss Energy (ASX: BOE) is pursuing an increase in the resource base at its flagship Honeymoon uranium project in South Australia with the start of infill and scout drilling at the Jason’s satellite deposit, located to the project’s north.
The deposit contains an inferred mineral resource estimate of 6.2 million tonnes at 790 parts per million uranium oxide for 10.7 million pounds of contained uranium oxide.
Drilling is expected to provide valuable geological and hydrogeological data regarding the Eyre Formation sediments that host the mineralisation.
It will test for continuity and extensions to the mineralisation and provide validation of historical exploration results from the 1970s.
The most recent exploration at Jason’s was completed by Boss in 2016 and culminated in the release of the current inferred resource.
Boss is looking to lift the 2.45Mlb nameplate capacity to more than 3Mlbs per year of uranium oxide equivalent.
Source: Smallcaps
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.008 +14.29%
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 +3.85%
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 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: $0.0195 +2.63%
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: $0.011 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: $0.013 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: $0.054 +3.85%
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 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: $0.028 -6.67%
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.012 -7.69%
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 -0.63%
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: $0.022 +4.76%
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 Unchanged
Sector: CBD
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.004 -20.00%
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 +4.55%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
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