Happy Friday!
It’s the 1st of December already.. *rubs eyes*
Market highlights
ASX futures down 9 points or 0.1% to 7085 near 7am AEDT
- AUD -0.2% to 66.03 US cents
- Bitcoin -0.3% to $US37,766 at 6.58am AEDT
- On Wall St at 3.17pm: Dow +1% S&P -0.1% Nasdaq -0.7%
- In New York: BHP +0.3% Rio +0.2% Atlassian -3.1%
- Tesla -1.8% Apple -0.2% Amazon -1%
- Stoxx 50 +0.3% FTSE +0.4% DAX +0.3% CAC +0.6%
- Spot gold -0.5% to $US2034.16/oz at 1.49pm in New York
- Brent crude -0.3% to $US82.86 a barrel
- Iron ore +1% to $US129.75 a tonne
- 10-year yield: US 4.36% Australia 4.41% Germany 2.44%
- US prices as of 3.14pm in New York
Australian shares are poised to open lower. Shares were fluctuating on Wall Street in the final hour of the last day of November.
US bonds reversed direction on the day. The yield on the US 10-year note was 10 basis points higher to 4.36 per cent at 3.14pm in New York.
Oil was lower even after OPEC + agreed to cut output because the group provided few details on what individual producing nations’ agreed to do. A short time later, Angola rejected its new output quota, saying it planned to breach it, a rare challenge to the cartel that heralds more infighting ahead.
Tesla slid ahead of the long-awaited release of its Cybertruck. In a note, Wedbush Securities Dan Ives said the release “is another historical moment for Tesla and [Elon] Musk”.
Source: AFR
- Peak reveals lower costs for Tanzanian rare earths development ahead of AGM in Sydney
- Chinese rare earths giant Shenghe Resources wants all of the concentrate from the Ngualla mine, and could negotiate a stake in the project
- Miners down as gold, battery metals and uranium stocks cool off
Who ever heard of costs going down with a study update?
Magnet metals hopeful Peak Rare Earths (ASX:PEK) appears to have done just that, though as with all of these things the proof of the pudding will be in the eating if it finally gets to develop its Ngualla project in Tanzania.
It now says its capital cost has come down from US$320.7m to US$286.9m, with operating costs to fall 17.8% from US$93.3m to US$76.7m.
The new numbers are contained in a FEED study to follow up the Ngualla BFS, updated last in October last year. Typically costs rise in this stage, as miners fiddle with the scope and convert the theoretical into something more real, with contractors and suppliers putting the hard numbers on their services and materials.
Among the factors lowering operating costs for the project, one of the highest grade undeveloped rare earths developments globally, include a longer term power deal and lower forecast Tanzanian diesel prices.
Those are important given Peak — which plans to sell its concentrate to Chinese major and 19.8% shareholder Shenghe Resources — needs to demonstrate the mine can work at times of lower neodymium-praseodymium prices. Currently you’ll pay around US$68/kg for NdPr oxide in China.
Early last year, when the BFS update was in full swing, those prices soared past US$130/kg and ran as high at one point as US$175/kg.
At US$60/kg, Peak assumes it will make US$5.53 on each keg shipped as a margin, rising to US$37.96 should prices double to US$120/kg.
Source:Stockhead
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: $0.135 -10.00%
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 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: $0.007 +16.67%
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: $0.022 +4.76%
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 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: $0.0105 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: $0.013 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: $0.059 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: $0.18 -2.7%
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 +28.57%
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 -1.27%
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: $0.038 +5.56%
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: $0.016 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: $0.003 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 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak on 1300 304 460
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