Kick your legs up, pour yourself a wine, it’s Friday!
Enjoy your weekend.
Across Markets…
- ASX closed flattish on Friday, but was up 1pc for the week
- Energy stocks crumbled after crude prices dropped 5pc overnight
- Cathie Wood’s views on AI stocks at the Sohn conference
The ASX reversed early losses to close flattish on Friday. For the week, the benchmark ASX200 index was up 1%.
In New York last night, stocks were mixed as the focus turned to the oil market where crude prices suffered further losses of 5%.
Energy stocks were expectedly the worst performers today, with the sector down 1.5%. Mining and Industrials stocks meanwhile led the winners.
Gold miners like Northern Star (ASX:NST) and Evolution Mining (ASX:EVN) rose around 4%. Carsales (ASX:CAR) was one of the worst large caps, down over 3%.
There were no major economic data releases today, but reports are anticipated later tonight from the APEC summit in San Francisco where PM Albanese is one of the attendees.
Meanwhile, Australia’s leading investor conference, Sohn Hearts & Minds, got under way today at the Drama Theatre, Sydney Opera House.
Ark’s Cathie Wood was one of the big names who attended. Amongst the various topics she touched on, Wood said she was bearish on Google and Nvidia, but was instead favourable on companies that already have real AI expertise.
Woods also said she was still enthusiastic about Tesla, while bullish on Bitcoin.
Elsewhere in the region, Asian stock markets were mostly down today.
Alibaba shares in Hong Kong shaved 10% after the company said it was shelving plans to spin off its clouds business.
Source: AFR
Galan Lithium (ASX: GLN) has signed an agreement with a subsidiary of global mining and trading company Glencore for the offtake of up to 100% of lithium chloride concentrate from Phase 1 production at the Hombre Muerto West project in Argentina.
Glencore has also offered to provide a secured financing pre-payment facility for up to $153 million to support funding of Phase 1.
Under the terms of the five-year deal, Glencore will purchase technical-grade lithium chloride product from the start of commercial production at Hombre Muerto West in the first half of 2025.
Annual production is expected to be around 540,000 tonnes of lithium carbonate equivalent (LCE) in lithium chloride concentrate.
The price payable by Glencore will be referenced to a mutually-agreed lithium carbonate price index over a quotational period, less a marketing fee, discount and any penalties.
Glencore will not need an export licence to purchase the high-grade, low-impurity product.
The offtake will be toll treated into lithium carbonate for sale and export from Argentina.
Phase 1 of Hombre Muerto West remains remains on track for first pond fill early in the new year.
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: $0.007 -12.5%
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.15 +15.38%
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: $0.006 +20%
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: $0.022 +15.79%
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: $0.006 -14.29%
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: $0.0105 -4.55%
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: $0.10 with a 1:4 LMGO
Today’s Price Change: $0.062 +8.77%
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: $0.19-2.56%
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: $0.013 -7.14%
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: 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 Unchanged
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 +Unchanged
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.023 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
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