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    28 September, 2023

Pies or Lions…who will it be?

The Grand Final Weekend is upon us and the festive mood is setting in here in Melbourne.

We’re ready for few days of cracking weather, footy and beers.

On another note

If you’ve been watching the Uranium spot price go gangbusters….

Check out our very own Niv Dagan’s views on the outlook here.

See you Monday!

Across Markets…

The Australian sharemarket finished lower on Thursday, weighed down by consumer stocks after an unexpected fall in monthly retail sales figures.

The benchmark S&P/ASX 200 index fell 0.1 per cent, or 5.5 points to 7024.8 at the closing bell, with eight out of the 11 industry sectors recording losses.

Consumer stocks reacted negatively to Australian retail sales for August and were among the worst-performing on the gauge. The data showed that retail activity last month slowed to 0.2 per cent from July’s increase of 0.5 per cent, reinforcing the case for the Reserve Bank to hold the cash rate when it meets next week.

ANZ economists Adelaide Timbrell and Madeline Dunk said in a note to clients that the data supported the likelihood that the Reserve Bank would leave the cash rate unchanged next Tuesday, with the “RBA appearing comfortable to continue its extended pause”.

The consumer discretionary sector recorded the sharpest loss, down 1.2 per cent. IDP Education dropped 3.5 per cent, Aristocrat Leisure slid 1.9 per cent and Wesfarmers fell 0.8 per cent.

WTI crude hit fresh one-year highs above $US94 a barrel as stockpiles in the largest US storage hub dropped to the lowest since July last year. Energy stocks tracked the oil price and were among the best performing on the ASX 200, jumping 3 per cent.

Woodside Energy rallied 2.9 per cent, Santos jumped 3.8 per cent and Karoon surged 4.7 per cent.

Source: AFR

Pic of the day

Local Equity News

Latrobe Magnesium (ASX: LMG) is heading into 2024 fully confident that it can achieve success on a number of fronts at its unique Latrobe magnesium project.

In releasing its 2023 annual report, the company said it is now back on target to complete the construction phase of its stage 1, 1000 tonnes per annum demonstration plant in Victoria.

After an adjustment to its schedule due to impacts on labour markets and equipment procurement due to external financial market issues, the company is aiming to complete construction by the end of December 2023 with Stage 3 commissioning targeted to commence in January 2024 and first magnesium production to begin in March 2024.

The company confirmed that the outcomes of the stage 1 demonstration plant development will now play a key part in determining the size of its stage 2 commercial plant.

Current thinking is for the development of 10,000 tonnes per annum plant, which is based on the amount of ash supply generated from the nearby Yallourn brown coal power generation facility until its closure in 2028.

The company is confident that the Yallourn ash alone can support the operation of a 10,000 tonnes per annum plant for 20 years.

However, current studies are looking into the fact there is substantially more ash supply available than that which will be generated, and work is now undertaken will determine the amount of ash that can be economically extracted.

This will then determine the optimum size and mine life for the project, potentially beyond 10,000 tonnes per annum.

CLICK HERE TO READ MORE

Source: Small Caps

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Recent Peak Deals

Company: Alderan Resources (ASX:AL8)
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.0095 -5.00%

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 Unchanged

Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.12 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: $0.0065 Unchanged

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: $0.025 +4.17%

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 +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: $0.009 -10.00%

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 +10.00%

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: $0.044 Unchanged

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 +2.78%

Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.004 with a 1:1 option
Today’s Price Change: $0.003 -14.29%

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: $0.036 Unchanged

Company: Fatfish Group (ASX:FFG)
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.012 Unchanged

Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.595 +8.18%

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 -6.67%

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: $0.018 Unchanged

Company: Avecho Biotechnology (ASX:AVE)
Sector: CBD

Deal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.0045 Unchanged

Company: ECS Botanics Holdings Ltd (ASX:ECS)
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.021 Unchanged

If you would like more information on future Peak deals, please don’t hesitate to get in touch.


The trustee for Peak Asset Management Unit Trust (“Peak”) is a corporate authorised representative (#1295491) of Brava Capital Pty Ltd (AFSL #382585).
 
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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