How was your weekend?
Market highlights
ASX futures up 5 points or 0.1 per cent near 6am AEDT
- AUD +0.1% at US66.90¢
- Bitcoin +0.2% to $US42,880
- Dow -0.3% S&P +0.1% Nasdaq flat
- FTSE +0.6% DAX +1.0% CAC +1.1%
- Gold +1.0% to $US2049.06 an ounce
- Brent oil +1.1% to $US78.29 a barrel
- Iron ore -3.5% to $US129.60 a tonne
The Australian sharemarket is set to open slightly higher after markets overseas drifted to a subdued close as investors prepared for the Martin Luther King Day holiday in the US.
Futures indicate that the benchmark S&P/ASX 200 Index is poised to rise 0.1 per cent, or 5 points, from Friday’s 7498.3 points close. Wall Street will be closed on Monday.
Indexes in New York drifted to a mixed finish on Friday as investors started to digest the results of some of the biggest banks in the US as their earnings season kicked off. The S&P 500 ended Friday up 0.1 per cent and remains within 0.3 per cent of its record.
The tech-heavy Nasdaq was little changed.
Locally, investors will be focused on the December unemployment data due on Thursday. Market consensus is looking for an addition of 15,000 jobs and for the jobless rate to be unchanged at 3.9 per cent.
Both National Australia Bank and ANZ forecast the unemployment rate will fall slightly to 3.8 per cent. And they expect moderate job gains of 30,000 and 20,000 respectively.
NAB’s head of market economics, Tapas Strickland, cited the lift in November’s unemployment rate being driven by a leap in labour participation as the reason for a slight reversal in the figures.
“The Reserve Bank’s November statement of monetary policy had pencilled in an unemployment rate of 3.8 per cent for Q4 2023, so a 3.8 per cent to 3.9 per cent outcome is unlikely to shift their thinking,” Mr Strickland wrote in a note to clients.
Source: AFR
- Alma Metals to acquire two EPMs next to the Briggs copper JV project in Queensland
- The acquisition cost will form part of ALM’s earn-in expenditure for the project
- Assays from drilling last year still pending, with a resource update also planned
Special Report: Alma Metals is acquiring two Exploration Permit for Minerals (EPM) from Tropex Metals which are adjacent to its Briggs copper project in Queensland.
Exploration at Briggs is being funded by the company under an earn-in joint venture agreement. Alma Metals (ASX:ALM) currently has a 30% JV interest and can earn up to a 70% interest from owner Canterbury Resources (ASX: CBY) via a staged earn-in.
Last year, an inferred mineral resource of 415Mt at 0.25% copper and 31ppm molybdenum was defined at Briggs.
That’s ~1Mt of contained copper and +28.6Mlb of molybdenum which puts it amongst the Top-10 largest undeveloped copper projects in Australia.
The two new EPMs will become part of the Briggs, Mannersley and Fig Tree Hill JV, with the cost of acquisition to form part of ALM’s earn-in expenditure.
Location of the two EPM’s to be acquired and the existing Briggs, Mannersley and Fig Tree Hill EPMs overlain on a total magnetic intensity map of the region. Source: ALM
Terms of the deal
Once the deal is completed, ALM will issue $50,000 worth of ordinary shares to Tropex based on a 10-day VWAP calculated on the day binding transaction documents are executed. These shares will be escrowed for six months.
Tropex will also be entitled to receive a 1% net smelter royalty on mineral production from the two EPMs, capped to a maximum total of $7.5m.
In the meantime, ALM expects assays from its December drilling program at Briggs to arrive in mid-Q1, with follow-up drilling to kick-off shortly thereafter.
Then, a resource update could be on the cards to support a scoping study at the project.
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: $0.13 -7.14%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.14 +7.69%
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 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: $0.055 -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 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: $0.009 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: $0.005 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 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 -6.45%
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: $0.014 -6.67%
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: $0.021 -8.70%
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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