In the latest from Credit Suisse…
The bank today said it would borrow up to $US54 billion ($81 billion) from the Swiss central bank to shore up liquidity and investor confidence after a slump in its shares intensified fears about a global financial crisis.
The Swiss bank’s announcement helped stem heavy selling in financial markets in Asian morning trade on Thursday, following torrid sessions in Europe and the United States overnight as investors fretted about potential runs on global bank deposits.
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Across Markets…
Australian shares have erased nearly all their gains for this year to close at 6965.5 points, slightly above their calendar year low of 6946.2 points on January 3.
The selling failed to relent after Credit Suisse detailed plans to shore up its cash position. The market was down 1.5 per cent on the day.
The energy sector cratered 4.8 per cent and the materials sector was down 3.2 per cent. Woodside lost 5.4 per cent and BHP 4.8 per cent.
Financials fell 1.4 per cent, with CBA the best performer among the big four, losing just 0.1 per cent.
Gold miners climbed. At the close, Dow Jones sharemarket futures were up 0.3 per cent.
Stock markets in Europe tumbled earlier in the day as anxieties mounted.
The FTSE 100 sank nearly 4 per cent, as British banks and asset managers were dumped by investors. Prudential, the insurer, lost more than 12 per cent of its valuation, while Barclays fell by 9 per cent.
Meanwhile, Shell and BP declined by more than 8 per cent.
Oil prices fell more than 5 per cent as memories of the 2008 financial crisis and its aftermath stoked fears of a global economic downturn.
Source: AFR
Joint venture partners Piedmont Lithium (ASX: PLL) and Sayona Mining (ASX: SYA) have produced 1,200 tonnes of saleable lithium concentrate from the recently recommissioned North American Lithium (NAL) operation in Quebec, Canada.
Piedmont owns a 25% interest in NAL, and also holds a direct 15% stake in Sayona.
The duo announced this morning about 1,200t of saleable concentrate had been generated so far, including 6% lithium grade concentrate.
This follows the announcement of first spodumene concentrate at the start of the month.
Commissioning is proceeding on schedule and within budget, with the first shipment expected to occur in July this year.
All-up for the half year ending December 2023 (H1 FY2024), the joint venture plans to produce and export 85,000-115,000t of spodumene concentrate from NAL. This is expected to occur via four shipments.
Sayona managing director Brett Lynch said production of first saleable concentrate at NAL was a “major milestone”.
Source: SmallCaps
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.25 -10.71%
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: $0.03 -6.25%
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: $0.011 Unchanged
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.03 with a 1:3 CDTOA
Today’s Price Change: $0.022 +4.76%
Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 Listed Option
Today’s Price Change: $0.013 +8.33%
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: $0.064 -3.03%
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: $0.50 -0.99%
Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.01
Today’s Price Change: $0.013 -7.14%
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: $0.047 +2.08%
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.015 -6.25%
Company: Lobe Sciences (CSE:LOBE)
Sector: Medtech
Deal Type: Pre-IPO
Raise Amount: $1.5M
Latest Entry Price: $0.05 with a 1:1 Warrants
Today’s Price Change: $0.035 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $1.335 -2.55%
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: $0.046 -2.13%
Company: Cipherpoint Limited (ASX:CPT)
Sector: Cybersecurity
Deal Type: Placement
Raise Amount: $2.9M
Latest Entry Price: $0.005 with a 1:1 Listed Option
Today’s Price Change: $0.006 Unchanged
Company: Metals Australia Limited (ASX:MLS)
Sector: Lithium/Graphite
Deal Type: Placement
Raise Amount: $7.8M
Latest Entry Price: $0.078 with 1:1 MLSOD
Today’s Price Change: $0.039 -7.14%
Company: BBX Minerals Ltd (ASX:BBX)
Sector: Mining
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.082 with a 1:1 BBXOA
Today’s Price Change: $0.12 Unchanged
Sector: CBD
Raise Amount: $5M
Latest Entry Price: $0.022 with a 1:2 AVEO
Today’s Price Change: $0.009 +12.50%
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.02 Unchanged
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