How was your Monday?
A productive sunny day here in Melb, following a relaxing long weekend.
From the REE space…
Insightful research coverage on our portfolio company ASX:VMS by East Coast Research.
The company is currently in the process of defining a maiden resource at its REE Project in WA in the short term.
Click here to read the full report.
Across Markets…
Energy stocks all-but single handedly helped the Australian sharemarket to its sixth day of straight gains on Monday, after escalating tensions in the Middle East triggered a rally in oil prices and producers.
The S&P/ASX 200 closed up 23 points, 0.3 per cent, to 7578.4, around 50 points shy of its all-time high reached in August 2021. The All Ordinaries climbed by a similar margin.
Energy stocks were the standout performer, up 1.8 per cent, following two separate attacks over the long weekend, in which Iran-backed militants killed US troops in Jordan and hit a tanker in the Red Sea.
“Elevated tensions in the Middle East have underpinned oil prices for the past couple of months. Disruptions to supply have been limited, but that changed on Friday,” ANZ senior commodity strategist Daniel Hynes said in note on Monday.
“With oil tankers linked to the US and UK now under threat of attack, the market is likely to reprice the risk of disruptions.”
Brent crude rose as much as 1.3 per cent to $US84.62 a barrel at the open of trading, while West Texas Intermediate advanced toward $US79 a barrel. Despite paring back gains later in the session, Brent crude remained 1.9 per cent higher than since ASX shares had last traded on Thursday
Tech stocks were the worst performing, slipping 1.2 per cent, at the top of another week of US earnings season. Mega-cap US tech stocks Microsoft, Alphabet, Amazon and Meta will all report this week.
The benchmark was also weighed by BHP, which was off 1.4 per cent to $46.87. Over the weekend, Reuters reported that a Brazilian federal judge had ruled the miner should pay part of a 47.6 billion reals ($14.7 billion) fine relating to a deadly tailings dam disaster in 2015.
In other corporate news, Golden Road Resources was the worst performer on the benchmark, falling 18.4 per cent to $1.40. The miner reported a slip in gold production and a downgraded its full-year guidance in its latest quarterly report.
Boss Energy fell 4.5 per cent lower at $5.33. The uranium stock was downgraded to hold by Bell Potter.
Investment firm Perpetual dropped 2.1 per cent to $25.66 after clients pulled $4.3 billion of assets from its funds in the December quarter.
Source: AFR
Leading online marketplace business Frontier Digital Ventures (ASX: FDV) has reported its fourth consecutive quarter of positive operating cash flows.
Founder and chief executive officer Shaun Di Gregorio said the December quarter result highlighted the consistent execution of the company’s strategy and the strength of its online marketplaces model, despite the headwinds experienced in the first half of 2023.
Frontier Digital achieved group operating revenue of $21.7 million and earnings before interest, taxes, depreciation and amortisation of $2.1m in the December quarter.
This was also the sixth consecutive quarter of positive operating cash flow across all geographic regions the group operates in.
The Q4 2023 revenue included a record $14.4m from the company’s 360 Latin American (LATAM) businesses.
This was a 22% increase on the previous corresponding period (pcp), with transactions revenue growing 231% on the pcp.
Mr Di Gregorio said Frontier is entering a new phase of its journey, having delivered long-term revenue and earnings growth as well as, for the first time, full-year positive net operating cash flows.
Source: SmallCaps
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.004 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: $0.17 +3.03%
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 +4.35%
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.003 -25.00%
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 -12.50%
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: $0.057 +5.56%
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: $0.125 -7.41%
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: $0.009 Unchanged
Sector: Mining
Deal Type: Placement
Raise Amount: $1.65M
Latest Entry Price: $0.006 with a 1:1 ESRO
Today’s Price Change: $0.006 +20.00%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.405 +17.39%
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: $0.027 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
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
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