Two deals in two days @PeakHQ and we are grinding it out despite the market.
On another note…
There certainly has been some movement in gold recently.
Check out chart below for some historical trends.
Are we in for another move upwards?
Across Markets…
Australia’s benchmark index posted its worst one-day performance in four weeks on Thursday, as simmering Middle East tensions and an unexpected fall in the September jobless rate put investors on watch.
S&P/ASX 200 dropped 96 points, or 1.4 per cent lower at 6981.6, falling below the 7000-point threshold for the second time this month. The All Ordinaries fell 1.3 per cent.
Australian shares followed US indexes, which fell overnight on Wednesday during US President Joe Biden’s diplomatic visit to Israel. The President’s trip followed a disputed attack on a hospital in the Gaza Strip that derailed plans for a meeting of Arab leaders.
Meanwhile, Australia’s jobless rate unexpectedly fell to 3.6 per cent in September, according to data released on Thursday, in a sign the labour market may still be tight. Analysts had forecast the jobless rate to stay at 3.7 per cent.
KPMG chief economist Brendan Rynne said the jobs data may not sway the Reserve Bank of Australia’s next rate decision in November.
“This fall is not due to increased employment, but, concerningly, because around 13,000 people withdrew from the labour force,” he said.
“Next week’s CPI figures will be crucial, especially given the potential impacts of the conflict in the Middle East on inflation and oil prices and possible implications for global economic growth.”
On the benchmark, all 11 sectors ended the day in the red. Industrial and finance stocks were among the worst hit. Commonwealth Bank, National Australia Bank and Westpac all fell more than 1.4 per cent.
Tech stocks were the worst hit, falling 1.8 per cent after the tech-heavy Nasdaq dipped 1.6 per cent, overnight.
Lithium miners weighed on the materials sector, as lithium developer Liontown prepared for an equity raise following a failed buyout offer from US giant Albemarle.
Source: AFR
Shareholders in Incannex Healthcare (ASX: IHL) (NASDAQ: IXHL) have voted overwhelmingly in favour of a scheme to redomicile the company’s headquarters to the US.
Approximately 99.64% of shareholders and 99.93% of optionholders have given their nod of approval to the proposal which will see Incannex US acquire 100% of issued Incannex shares to become the group’s new parent entity.
Of a total 464 shareholders who had voted by 18 October, 433 of them (representing approximately 788 million shares) voted in favour, or provided discretion to the company to vote in favour, of the scheme.
A total 16 shareholders representing 2.4 million shares voted against the idea.
Of a total 217 optionholders who voted by 18 October, 209 (representing approximately 124 million options) voted in favour, or provided discretion to the company to vote in favour, while four of them (representing 53,336 options) voted against.
Incannex directors have unanimously voted in favour of the scheme so the company may redomicile to the US and have all of its shares trade exclusively on the Nasdaq securities exchange.
Incannex said it would facilitate a seamless transition to the Nasdaq and intends to engage an international share registry to provide share transactional services to shareholders.
Source: Small Caps
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.012 Unchanged
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.13 Unchanged
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.15 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 +20.00%
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: $0.023 +4.55%
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: $0.008 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: $0.0095 +5.56%
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: $0.011 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: $0.042 -2.33%
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 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: $0.035 Unchanged
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.01 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.685 -1.44%
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: $0.026 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: $0.019 Unchanged
Sector: CBD
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.0045 Unchanged
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.024 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs. Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances. If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au or by telephoning Peak on 1300 304 460
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