How was your Monday?
It’s been a busy one @PeakHQ.
The team are headed to Perth tomorrow for our Spotlight Conference.
If you’re in Perth, be sure to swing by!
You can register here.
PS – morning and arvo wraps may be sporadic over the coming days.
Across Markets…
Australian shares ended Monday’s session at the lowest level in a year, mirroring a weaker Wall Street as concerns about a widening of the Middle East conflict dented investor sentiment.
The benchmark S&P/ASX 200 lost 56.6 points, or 0.9 per cent, to 6844.1, extending last week’s decline. The All Ordinaries fell 0.8 per cent to 7030.
Seven out of the 11 sectors were in the red, with materials and energy leading losses. The major banks retreated between 0.1 per cent and 0.9 per cent.
Rio Tinto fell 2.4 per cent to $111.85 and BHP Group declined 2.4 per cent to $43.35. Fortescue Metals slumped 2.7 per cent to $20.81. Santos shaved off 2.5 per cent to $7.81 and Woodside slid 3.2 per cent to $35.19.
Coal stocks took a beating with New Hope, the worst ASX 200 performer, down 8.5 per cent to $5.92. Further undermining its appeal in a session dominated by negative sentiment for anything relating to miners and energy was an ex-dividend trading day.
South32 dropped 3 per cent to $3.27 after flagging a 33 per cent drop in coal production this quarter in a business update.
Whitehaven Coal reversed earlier gains to end the session 0.5 per cent lower at $7.5.
In corporate news, Propel Funeral rallied 2.7 per cent to $4.53 after its board rejected “multiple” buyout offers because they were too cheap.
Immutep jumped 20 per cent to 33¢ after the biotech company published positive clinical trial results for its lung cancer treatment.
Judo Capital tumbled 5.3 per cent to 80¢ as it is seeking to raise $75 million in perpetual subordinated notes.
Treasury Wine Estates rallied 1.4 per cent to $11.93 on hopes China will remove its tariffs on Australian wine.
Source: AFR
Latrobe Magnesium (ASX: LMG) has commenced a recruitment campaign to help meet the requirements of its recently adapted timetable for stage 1 development of its magnesium production plant in Victoria’s Latrobe Valley.
The company recently announced a switch in the magnesium oxide (MgO) schedule to help improve its commissioning progress at the ground-breaking plant.
The Latrobe project team elected to adjust the execution strategy to allow it to focus on the delivery of the areas needed to produce magnesium oxide (MgO) as an initial product, prior to producing magnesium metal.
As a bonus to that change in the development schedule, Latrobe has already signed a Memorandum of Understanding (MoU) with Rainstorm Dust Control for the sale of magnesium oxide in the initial phase, as well as any excess MgO produced.
Latrobe’s new focus is on the completion of the areas identified as being necessary to produce magnesium oxide as soon as possible, including the ash handling, leaching, spray roasting and magnesite areas.
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: $0.01 -9.09%
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.125 -3.85%
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: $0.0055 -8.33%
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: $0.021 -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: $0.011 +22.22%
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: $0.05 +19.05%
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 -5.00%
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: $0.034 -2.86%
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.011 +10.00%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.635 -3.79%
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: $0.028 -3.45%
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: $0.015 -6.25%
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.
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
No responses yet