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Across Markets…
Australian shares dropped on Wednesday in the local bourse’s third consecutive session of losses as US President Donald Trump’s indefinite extension of a ceasefire in the Iran war did little to assuage investor fears that the conflict would press on.
The S&P/ASX 200 fell 50.20 points, or 0.57 per cent, to 8,793.40, with nine of 11 sectors lower. The index closed at its lowest level since April 8, meaning it is up just 0.7 per cent year to date.
It came as equity and commodity markets were rattled by reports that the Iranian regime had fired at commercial vessels and seized two ships. Losses on the local bourse tracked US futures: all three Wall Street benchmarks edged at least 0.4 per cent lower by the ASX’s closing bell.
Meanwhile, global oil benchmarks climbed on developments in the Middle East. Brent crude rose 0.77 per cent to $US102.68 a barrel, while West Texas intermediate increased 0.78 per cent to $US93.74 a barrel.
“An extension is far from a resolution,” said IG Markets senior market analyst Tony Sycamore of Trump’s extension of the ceasefire. “This delay now threatens to deepen an already precarious global energy crunch, sending oil prices higher and limiting the ability of US equity markets to extend their gains.”
“The focus now turns squarely to whether Iran’s fractured leadership can bridge its internal divide and present a credible proposal—before patience on all sides wears thin and its critical oil infrastructure is damaged, perhaps irreparably.”
Materials led losses, with the sector down 1.04 per cent over the course of the day. Lynas Rare Earths was the second worst performing stock on the local bourse, dropping 6.7 per cent to $18.39. The miner has undergone several days of underperformance despite posting a record quarter on Tuesday.
Source: AFR
Resolution Minerals Raising $20m to Advance Exploration at Horse Heaven Antimony Project
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RML raises $20m for Horse Heaven.
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Two-tranche $0.07/sh placement; 285.7m shares, attaching options.
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Funds drilling, test work, permits; Phase 2 at Golden Gate.
Resolution Minerals (ASX: RML) has received firm commitments to raise approximately $20 million for exploration at the Horse Heaven antimony project in Idaho.
The two-tranche share placement is priced at $0.07 per share, representing a 6.3% premium to the 20-day volume weighted average price, and will see the company issue a total 285.7 million new shares to institutional and sophisticated investors.
Subject to shareholder approval, investors will also receive one free attaching listed option for every three shares issued, exercisable at $0.10 each and expiring in November 2029.
The first tranche to raise $9.21 million through the issue of 131.61 million shares will be settled at month end, while a second tranche total of $10.78 million for the issue of 154.1 million shares is expected to settle within 60 days.
Multiple Near-Term Catalysts
Proceeds from the raising – which is being cornerstoned by Tribeca Investment Partners and L1 Capital Global Opportunities Master Fund – will be used to accelerate drilling, metallurgical test work, and permitting activities across Horse Heaven.
This work will position Resolution to advance multiple near-term catalysts across antimony, gold, silver, and tungsten.
The company plans to commence a Phase 2 drilling campaign next month at Horse Heaven’s Golden Gate target, comprising up to 45 holes for a total 13,700m.
Drilling will look to define the scale of gold and associated tungsten mineralisation, supporting the progression toward a maiden mineral resource estimate before end-2027.
An earlier Phase 1 campaign at Golden Gate delivered multiple broad gold intercepts including 253m at 1.5 grams per tonne, 197.5m at 1.26g/t, 265.2m at 0.6 g/t, and 240.8m at 0.64g/t.
US Government Support
Resolution is currently advancing a US-based development platform focused on antimony and tungsten at a time of increasing geopolitical focus on securing domestic supply of critical minerals.
The company has also been working closely with the US government to advance potential offtake agreements and funding support following formal recognition of the strategic importance of its US assets.
“Following a highly successful drilling campaign last year, today’s successful capital raising marks a transformational milestone for the company as it is about to list on the NASDAQ as well as launch its second drill campaign in the coming weeks,” executive director Aharon Zaetz siad.
“Strong tailwinds from the critical minerals sector as well as the recent FAST-41 status is a further endorsement of the project’s quality and potential.”
Source: SmallCaps
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Performance Since Entry: +85%
Company: Eden Innovations Ltd (ASX:EDE)
Sector: Construction/Clean Energy
Deal Type: Shortfall
Latest Entry Price: $0.035 with 1:2 option, strike $0.07
Price Performance Since Entry: +414%
Company: Tasman Resources Ltd (ASX:TAS)
Sector: Gold/Silver/Mining
Deal Type: Placement
Latest Entry Price: $0.0125 with 1:2 option, strike $0.02
Price Performance Since Entry: +300%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +325%
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Price Performance Since Entry: +125%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +18%
Company: Biotron Ltd (ASX:BIT)
Sector: Biotech
Deal Type: Placement
Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Price Performance Since Entry: 0%
Company: Eclipse Metals Ltd (ASX:EPM)
Sector: REE
Deal Type: Placement
Latest Entry Price: $0.015
Price Performance Since Entry: +13%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Price Performance Since Entry: +1,098%
Company: Dimerix Ltd (ASX:DXB)
Sector: Biotech
Deal Type: Rights Issue
Raise Amount: $800,000
Latest Entry Price: $0.08 with 1:1 option, strike $0.126
Price Performance Since Entry: +381%
Sector: Blockchain
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.02 with 1:1 option $0.08 strike
Price Performance Since Entry: +40%
Company: Critica Limited (ASX:CRI)
Sector: REE
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.0075 with a 1:1 CRIO
Price Performance Since Entry: +207%
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Price Performance Since Entry: +89%
Sector: Gold/Mining
Deal Type: Placement
Raise Amount: $2.3M
Latest Entry Price: $0.026 with 1:2 option $0.032 strike
Price Performance Since Entry: +50%
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