How was your week?
Lots of AO action here in Melb with games going late into the night!
From the Lithium space…
Despite prices crashing and a number of leading battery metals companies cutting back their budgets, a Chinese consortium (CBC) has signed a significant agreement with the Bolivian government to develop a pilot plant in the country’s south-west.
Made up of CATL, Brunp and CMOC, the consortium will build a pilot plant at an estimated cost of $135 million to directly extract and process lithium at Uyuni, the world’s largest salt flat region.
Click here to read more.
Enjoy the weekend.
Across Markets…
Australian shares jumped on Friday, snapping a four-day losing streak, after a solid US labour data report bolstered optimism about the economy, sending Wall Street and risk assets in the green.
The S&P/ASX 200 closed 74.7 points, or 1 per cent higher to 7421.2, having pulled away from Thursday’s one-month low. The All Ordinaries also gained 1 per cent to 7652.3.
For the week, however, the main index was down 1 per cent, and finished the session well under a peak of 7632.7 touched on January 2.
Ten out of the index’s 11 sectors notched gains with tech the big winner, up 3 per cent. Zip flew 11.42 per cent higher at 63.5¢, EML Paymentspowered up nearly 10 per cent to $1 and Xero shot up 4.8 per cent to $114.73.
Investors also favoured resource stocks after a rebound in commodity prices on hopes that top consumer China will announce stimulus measures to support a slowing economy.
Heavyweight miners Rio Tinto powered up 0.9 per cent to $128 and Fortescue leapt 2 per cent to $27.58. BHP Group closed flat at $45.73.
Yet, uranium miners were given a wide berth. Boss Energy and Paladin Energy were among the biggest laggards of the session, down more than 2 per cent each.
The big banks advanced with ANZ shares closing 1.3 per cent higher at $26.13. CBA rose 0.7 per cent to $113.28, NAB rallied 1.3 per cent to $31.28 and Westpac added 1.5 per cent to $23.20.
Source: AFR
Latrobe Magnesium (ASX: LMG) continues to ramp up activities as it closes in on the commissioning stage and early product sales at its unique demonstration plant in Victoria.
In a solid financial position after successfully raising $3.06 million near the end of last year, Latrobe enters 2024 with a number of milestones reached and others approaching completion at its pilot magnesium production plant in the Latrobe Valley.
Latrobe is utilising a world-first patented process that will extract and sell magnesium metal and cementitious material from industrial fly ash, which is currently a waste resource from the nearby Yallourn brown coal power generation.
Following construction and testing of the pilot plant, the company aims to build a commercial plant with a capacity of more than 10,000 tonnes per annum of magnesium.
The first commercial stage of the development has been a recently-implemented fast-track plan to produce bags of magnesium oxide (MgO).
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: $0.18 Unchanged
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: $0.004 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: $0.006 -14.29%
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.01 with 1:2 CDTOA
Today’s Price Change: $0.007 +7.69%
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: $0.054 -1.82%
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: $0.14 -12.50%
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: $0.008 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 -16.67%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.3625 -5.84%
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: $0.03 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: $0.014 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 Unchanged
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