A warm sunny day in Melbourne today for a change.
This must be what summer feels like!
Across Markets…
Australian shares rallied 1.2 per cent by mid-day, bolstered by a strong session on Wall Street and the strongest monthly retail sales report in three years.
The benchmark S&P/ASX 200 jumped 90.4 points, or 1.2 per cent, to 7541.9 with tech leading gains, following a more than 2 per cent gain in the Nasdaq as Nvidia paced the Magnificent Seven higher. The All Ordinaries rose 1.1 per cent.
Zip leapt 5.7 per cent, while Block and Megaport rose 4 per cent each.
The major banks advanced as much as 1.3 per cent. Among the big miners, BHP gained 0.8 per cent, Rio Tinto edged up 0.3 per cent and Fortescue rallied 1.4 per cent. Lithium and gold explorers were also in demand with Core Lithium up 2.6 per cent and West African Resources 2.2 per cent higher.
Energy was the only sector down, albeit only slightly, after oil prices slumped on Monday. Santos and Woodside were both 0.4 per cent lower. Karoon Energy was the second-biggest laggard on the index, down 1.5 per cent.
The Reserve Bank of Australia is looking for evidence of a slowdown in the economy to help bring inflation back to target. Last month it kept the cash rate on hold at 4.35 per cent and may look through the distorted retail sales result.
Another data surprise came from building approvals which jumped 1.6 per cent in November, against expectations of a 2 per cent drop and following a 7.2 per cent gain in October.
The $A edged up 0.1 per cent to US67.24¢, the third consecutive session of subdued activity. It topped a five-month peak of US68.71¢ late last month.
Source: AFR
Galan Lithium (ASX: GLN) continues to make rapid progress with construction activities at its 100%-owned Hombre Muerto West (HMW) phase 1 lithium brine project in Argentina.
The company enters 2024 with a number of significant activities underway at the HMW phase 1 development, with the project scheduled to commence lithium chloride production in H1 2025.
Galan managing director Juan Pablo (JP) Vargas de la Vega said current construction highlights include work on pond 1 where earthworks are almost complete and liner installation now underway.
The company plans to commence filling pond 1 in the current quarter, allowing the brine evaporation process to commence this summer.
Mr Vargas de la Vega said this will be the first major step of the long-term production schedule for HMW phase 1.
Galan has already commenced earthworks construction at pond 2 and work there is now 10% complete.
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: $0.005 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: $0.125 Unchanged
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.13 -3.70%
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: 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 Unchanged
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: $0.008 Unchanged
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 -7.69%
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 -1.72%
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 Unchanged
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 +14.29%
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: $0.425 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 -3.33%
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 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 +4.55%
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
Comments are closed