Happy Friday!
For us in Melbourne, 30 degrees and sunny!
Has uranium turned up to party? We think so….
- 2023 Start: US$48.63/lb
- 2023 Finish: US$91.50/lb
- High: US$91.50/t (December 25-29)
- Low: US$48.63/lb (January 1-3)
- % Change: +88.15
You should never talk to uranium bulls at parties. But 2023 may have been the year their endless premonitions of a yellowcake breakout finally came to fruition.
Prices have since risen higher, scaling up to US$92.50/lb, something that will no doubt have dozens of uranium explorers on the ASX and TSX delirious at the thought incentive prices could soon be here to dust the cobwebs off low grade projects which have sat dormant for decades.
Contracting by nuclear power plants hit a decade high in 2023 as prices rose to levels not seen in 15 years, well before Fukushima and the subsequent shuttering of the Japanese reactor fleet in 2011 took more heat than Oppenheimer faced from
the United States Atomic Energy Commission out of the market.
Market highlights
ASX futures down 35 points or 0.5% to 7453 near 7.45am AEDT
- AUD -0.2% to 66.86 US cents
- Bitcoin +0.4% to $US46,350 at 7.53am AEDT
- On Wall St at 3.53pm: Dow +0.01% S&P -0.2% Nasdaq -0.1%
- In New York: BHP -0.5% Rio -0.5% Atlassian -0.8%
- Tesla -3.1% Apple -0.3% Microsoft +0.4%
- VIX -1.9% QQQ -0.07% TLT +0.5%
- Stoxx 50 -0.6% FTSE -1% DAX -0.9% CAC -0.5%
- Spot gold -0.4% to $US2016.19/oz at 1.57pm in New York
- Brent crude +0.6% to $US77.26 a barrel
- Iron ore +1.1% to $US134.35 a tonne
- 10-year yield: US 3.98% Australia 4.10% Germany 2.23%
- US prices as of 3.48pm in New York
Australian shares are poised to fall, though futures were fast paring an earlier drop, after the latest US consumer price data somewhat tempered hopes that the Federal Reserve is set to pivot to rate cuts in March.
Shares whipsawed in New York, opening higher, then plunging and recouping about half the loss near 2pm. All three major benchmarks were very modestly higher at 3pm and poised to end the day slightly lower.
US Treasury yields turned lower after initially rising and the 10-year yield fell back below 4 per cent.
Bitcoin briefly traded above $US49,000, a two-year high. It pared all of that advance near 2pm in New York but then edged higher anew by 3pm and appeared to be steadying.
Trading volumes were “impressive”, more than $US2 billion, according to Fundstrat Global’s Tom Couture, though specific inflow data won’t be calculated until after the closing bell once share counts are disclosed.
Source: AFR
- Mark Creasy backed CZR Resources has mooned today after announcing the sale of its Robe Mesa iron ore project for $102m to a Chinese buyer
- With iron ore prices in a position of strength it comes after nearby Strike sold its Paulsens East project of $20.5m last week to similar interests
- 43c per share sale will see CZR bank double its pre-bid market cap in cash
As iron ore prices surged above US$140/t late last year Chinese buyers zeroed in on one of a handful of development-ready assets in the Pilbara, offering top dollar to mop up two small mines which could sell 5Mtpa from WA’s North West Coast.
Two separate but seemingly conjoined companies under the moniker of Miracle Iron will pay a combined $122m to secure Strike Resources’ (ASX:SRK) Paulsens East project, which was briefly mined and shipped through the junior Utah Point Facility in Port Hedland a couple years ago and CZR Resources’ (ASX:CZR) larger Robe Mesa, an extension of Rio Tinto’s (ASX:RIO) Mesa F deposit at its Robe River JV.
Coming a week after Strike revealed the sale of its proposed 1.5Mtpa Paulsens East for $20.5m, Mark Creasy backed CZR (53% owned by the prospecting giant) announced the $102m sale of its 85% stake in the 33Mt Mesa F.
That’s 43c a share in cash and more than double its $47m market cap before trade started today. Cue a 40% plus gain.
CZR and Strike were partners with infrastructure firm CSL in a project to develop a new iron ore hub at the Port of Ashburton. A DFS last year suggested Robe Mesa – producing a low grade, low alumina and low phosphorous product akin to Fortescue’s (ASX:FMG) Super Special Fines blend which is currently in high demand in China – could ship 3.5Mtpa for four years before exporting 5Mtpa for another four years over an eight-year life.
An investment decision on a DSO operation commencing next year was due in the second half of 2024. But the deal will see CZR shareholders, including those who aren’t Creasy – currently deliberating on the sale of his 15% minority stake in the asset – see a return on their investment years earlier than they would have if they had to spend $109 million to build the thing.
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: $0.005 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: $0.14 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 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: $0.005 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: $0.007 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: $0.008 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: $0.0125 +4.17%
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 +1.79%
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 +6.25%
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 +12.50%
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: $0.005 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.42 -2.33%
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: $0.03 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: $0.015 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: $0.023 +9.52%
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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