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    5 December, 2023

How was your day? (outside of markets)

Brutal selling across the board today…

Across Markets…

Australian shares charted their worst one-day decline in more than a month on Tuesday, in an apparent shift in trader sentiment following a strong November rally.

The S&P/ASX 200 closed 63.1 points, or 0.9 per cent, lower at 7061.6 after a weak lead from Wall Street. Four of the ASX’s 11 sectors declined more than 1 per cent.

The benchmark, which was already down more than 1 per cent by midday, pared back some of its losses following the Reserve Bank of Australia’s decision to leave rates at 4.35 per cent at its final meeting of the year.

A hold was widely predicted by economists as well as money market pricing.

Tuesday’s broad sell-off came ahead of key US job data in the form of the Job Openings and Labor Turnover Survey on Wednesday, which will be followed by the US official unemployment rate later this week.

Source: AFR

Pic of the day

Local Equity News

  • Graeme Morissey has been appointed as Chief Financial Officer
  • Ben Donovan starts as Company Secretary
  • BRX has two critical minerals projects across Australia and Argentina

Special Report: Belararox has made two key appoints to the roles of CFO and company secretary as it gears up for exploration across its portfolio of critical minerals projects.

Belararox (ASX:BRX) owns the Toro-Mambo-Tambo (TMT) copper-gold project in Argentina as well as its Bullabulling gold and lithium project in WA’s Eastern Goldfields.

Fresh appointments

Ben Donovan will enter the role of Company Secretary this month and comes with a plethora of experience working with ASX listings and ASX-listed companies in the mining sector.

Appointed to CFO, Graeme Morissey is an experienced director and has a stellar audit background and CFO experience across multiple mining-related companies.

“The addition of Ben Donovan as Company Secretary and Graeme Morissey as CFO continues our plan of hiring top talent,” BRX MD Arvind Misra says.

“Both Graeme and Ben have significant experience with ASX-listed companies and especially those in the mining industry.

“We are excited to have them join our team. We also thank Simon for helping to bring Belararox to where it is today.”

Toro-Malambo-Tambo: Right place, right time

Nestled between the two highly prolific El Indo and Maricunga metallogenic gold and copper belts, Belararox has 11 highly prospective targets to explore at its TMT project in Argentina.

Argentina is rebooting its copper production, with planned projects that could produce almost 800,000t by 2030, and BRX’s TMT project is well-placed in an underexplored gap between a large number of historical and developing copper and gold mines.

These include Lundin Mining’s $4.1bn Josemaria mine and its Filo del Sol project which has hits of 1,338m @ 1.33% CuEq from 150m in the Maricunga belt to the north.

To the south, Barrick Gold and Shandong own the 22Moz Au Pascua Lama and 6.1Moz Au Veladero gold mines respectively along the El Indo belt.

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

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