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    6 December, 2023

Happy hump day!

The sun is shining here in Melbourne and lithium stocks are making a comeback.

Take a look at ASX:LNR (close to ASX:MRQ).

Across Markets…

  • ASX rebounded on Wednesday on conviction rates will not rise any higher
  • Iron ore, lithium stocks rise
  • Endeavour Group, HCM Capital and Magellan were best performers

The ASX 200 bounced back hard from yesterday’s losses as it closed Wednesday 1.7% higher.

All 11 sectors rose, led by Real Estate and Staples with Info Tech not far behind.

Local traders are parsing through RBA governor’s rather bullish tone as she spoke to a high-powered gathering of central bankers in Hong Kong. Bullock said Australian companies are resilient in the face of challenging macro backdrop.

“Despite that noise, households and businesses in Australia are actually in a pretty good position, “ she said following the RBA’s decision to pause rate hikes yesterday. “Their balance sheets are pretty good.”

Equities have also been supported by lower bond yields. Overnight, the benchmark US 10-year yield plunged by 10bp (bond prices rise), while Aussie yields remained flattish today.

“[Aussie] 10-year yields are likely to muddle around the current cash rate for some time,” said Andrew Canobi, Director Franklin Templeton Australia Fixed Income.

Iron ore miners BHP (ASX:BHP) and Rio Tinto (ASX:RIO) rose today, tracking higher iron ore prices in Singapore.

Lithium stocks like Pilbara Minerals (ASX:PLS) and IGO (ASX:IGO) also jumped 5-6%, also tracking higher lithium prices.

Across the region, Asian shares mainly advanced.

According to Bloomberg, India’s stock market value has reached more the US$4 trillion mark, after adding US$1 trillion in market cap in less than three years. This is a key milestone for the world’s fifth-biggest equity market, as it rapidly narrows the gap with the slumping Hong Kong market.

Source: AFR

Pic of the day

Local Equity News

  • Latin Resources increases resource at Salinas lithium project to 70.3Mt at 1.27% Li2O
  • Colina deposit resource increased by 41% and maiden resource announced for Fog’s Block
  • Company now planning for a Phase 3 extension in the DFS

Special Report: Latin Resources has reported a whopping 56% increase in the global resource at its Salinas lithium project in Brazil to 70.3Mt at 1.27% Li2O.

Smack bang in the lithium-rich Bananal Valley region of the pro mining state of Minas Gerais, Colina is a direct neighbour to Sigma Lithium’s (TSXV:SGML) 766,000tpa Grota do Cirilo project which entered production earlier this year.

Latin Resources (ASX:LRS) recently defined a Preliminary Economic Assessment (PEA) for the project which proposes a 3.6Mtpa standalone mining and processing operation over two phases.

The PEA highlighted an after-tax NPV of A$3.6 billion (US$2.5 billion) and combined after-tax IRR of 132%.

A robust five-month program of resource expansion drilling at the flagship Colina deposit has now resulted in a resource jump from 45.2Mt at 1.32% Li2O back in June to 63.5Mt at 1.3% Li2O (1.73Mt at 1.47% Li2O measured and 39.29Mt at 1.36% Li2O indicated) and 22.47Mt at 1.21% Li2O inferred.

That’s a 41% increase, placing Colina amongst one of the largest scale Tier-One undeveloped lithium resources globally.

The maiden resource at Fog’s Block has also been reported at 6.8Mt at 0.9% Li2O inferred for a combined global mineral resource of now 70.3Mt at 1.27% of Li2O.

Source: Stockhead

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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: $0.006 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: $0.14 Unchanged

Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $
0.13 -3.7%

Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.005 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: $0.019 Unchanged

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: $0.007 +16.67%

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: $0.01 +11.11%

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: $0.014 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: $0.054 -1.82%

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: $0.17 -2.86%

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: $0.008 Unchanged

Company: Estrella Resources (ASX:ESR)
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 Unchanged

Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.39 Unchanged

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: $0.029 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: $0.017 +13.33%

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: $0.003 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: $0.024 +4.35%

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).
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