Put your hand up if you’re going to the tennis?
Blue skies in Melbourne but the crowd is a little “nervous” re the virus as seats are still empty…
Tennis Australia had to spend over $40M to get the players and their “entourage” here so let’s just hope that TV rights is where the money is being made?
Across markets…
Australian shares are set to open lower as Wall Street struggled for direction for a second session. Federal Reserve chairman Jerome Powell said while some COVID-19 risks persist, he expects second-half growth.
ASX futures were down 25 points or 0.4 per cent to 6774 near 6.45am AEDT, paring earlier losses almost in half. The currency was little changed; the yield on the US 10-year note slipped 2 basis points to 1.13 per cent.
In New York, stocks were little changed in afternoon trading though improving in the wake of Mr Powell’s comments. At 2.46pm the Dow was up 71 points or 0.2 per cent. The S&P 500 was up less than 2 points, the Nasdaq was up 10 points.
“Valuations are stretched, we’re overbought but there’s a lot of sectors that haven’t participate as well … and rotation into these pockets always seems to keep this market floating,” Dennis Dick, a proprietary trader at Bright Trading LLC in Las Vegas, told Reuters.
Source: AFR
Melbana will begin drilling a highly prospective oil play in mid-2021 that could ultimately be worth billions to the company.
Melbana Energy (ASX:MAY) has taken another step closer to the start of drilling at its Block 9 project in Cuba with the award of a contract for the supply of long-lead items and construction of the first well pad largely complete.
The company has a 30 per cent stake in Block 9, where drilling will test four targets estimated to host about 236 million barrels of oil (best case estimate).
In Melbana’s favour is the fact that it is drilling in an area that has previously flowed oil to the surface. And success would make the company’s share of this resource worth billions of dollars.
Executive chairman Andrew Purcell says it’s an opportunity on a scale rarely offered by junior oil companies to its shareholders.
Sector: Consumer Discretionary
Year: 2019
Deal Type: Placement
Raise Amount: $2.2m
Price Change: $0.041 -4.65%
Sector: Consumer Discretionary
Year: 2018, 2019
Deal Type: Seed, Bridging and IPO
Raise Amount: $10m
Price Change: $0.20 -2.50%
Sector: Technology
Year: 2018
Deal Type: Seed and IPO
Raise Amount: $10m
Price Change: $0.043 -4.44%
Sector: Mining
Year: 2017
Deal Type: Seed & IPO
Raise Amount: $5m
Price Change: $0.20 +5.26%
Sector: Mining
Year: 2017
Deal Type: IPO & Placement
Raise Amount: $6m
Price Change: $0.044 -6.38%
Sector: Healthcare Equipment and Services
Year: 2016
Deal Type: IPO
Raise Amount: $8m
Price Change: $0.12 Unchanged
Sector: Materials
Year: 2016
Deal Type: IPO
Raise Amount: $9m
Price Change: $0.029 Unchanged
Sector: Biotechnology
Year: 2015, 2017, 2018
Deal Type: Placements & IPO
Raise Amount: $5m
Price Change: $2.75 +1.10%
Sector: Media an Entertainment
Year: 2016
Deal Type: Reverse Takeover
Raise Amount: $4m
Price Change: $0.044 -2.22%
Sector: Mining
Year: 2018, 2019, 2020
Deal Type: Placements & Rights Offer
Raise Amount: $1.5m
Price Change: $0.011 -8.33%
Sector: Discretionary
Year: 2020
Deal Type: Placement
Raise Amount: $1.3m
Price Change: $0.068 Unchanged
Sector: Gaming
Year: 2020
Deal Type: Placement
Raise Amount: $1.25m
Price Change: $0.12 Unchanged
Sector: Mining (Gold)
Year: 2020
Deal Type: Placement
Raise Amount: $982k
Sector: Mining (Gold/Silver)
Year: 2020
Deal Type: Placement
Raise Amount: $2.3m
Price Change: $0.013 +8.33%
Sector: Hemp & CBD
Year: 2020
Deal Type: Pre IPO
Raise Amount: $2.5m
Sector: Psychedelic assisted therapy
Year: 2020
Deal Type: Placement
Raise Amount: $2.5m
Price Change: CAD $0.12 +9.52%
Sector: Mining
Year: 2020
Deal Type: Placement
Raise Amount: $330k
Price Change: 0.14 -6.45%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
