Happy hump day!
The dovish/hawkish interest rate pendulum continues to swing.
What are your expectations for the March decision?
Across Markets
US stocks were lower after Federal Reserve policymaker Christopher Waller pushed back on near-term rate cut bets. The Dow was about 300 points lower shortly after 3pm; the yield on the US 10-year note surged more than 10 basis points.
Shares extended losses in New York after a federal judge blocked JetBlue Airways from buying Spirit Airlines, signalling a tougher regulatory outlook. Boeing fell more than 8 per cent. Morgan Stanley dropped 4.8 per cent.
In contrast, AMD surged more than 7 per cent and Nvidia advanced too. Reuters reported that Barclays analysts lifted their price targets for AMD and several other chipmakers, saying they would benefit from growth in artificial intelligence.
The Australian dollar slumped as much as 1.2 per cent, falling below US66¢, as the greenback rallied the most in 10 months. The US dollar’s advance was bolstered by the prospect of rates holding higher for longer and the prospect of a wider Middle East conflict.
ASX futures gave up early gains, to fluctuate between modestly negative and positive near 6am AEDT. They were 3 points lower near 7.05am. Evolution Mining issues a production update on Wednesday.
Waller’s speech “was notably less dovish than we and the market expected after his forward-leaning remarks late last year”, Evercore ISI’s Krishna Guha said in a flash note.
Waller previously said the Fed could consider cutting rates if the following three, four or five months inflation data supported ongoing disinflation.
Source: AFR
The completion of the program sees Venture reaching the 70% expenditure milestone for the JV covering the 40 km2 target, with the Company now forging ahead to 90% ownership
(Refer to ASX announcement 9 May 2023).
Highlights
• Jupiter Stage One Resource definition drill program completed across the 40 km2 target.
• 82 holes for 5,052 metres (m) of drilling were completed on a 1000 m x 500 m spaced pattern.
• Drilling has intersected broad consistent zones of clay in a vast majority of drill holes and portable XRF confirms the presence of REE mineralisation.
• Previous drill program at Jupiter intersected consistent 20-30 m widths of REE mineralisation grading over 2,000 ppm TREO1 within broader zones up to 64 m grading over 1,000 ppm TREO (Refer to ASX announcement 29 November 2023 and see Figures 3, 5 & 6).
• The Resource definition drill program is likely to put Jupiter on track to deliver clay hosted Rare Earth resources with significant grade at a World Class scale.
• Assay Results from the Stage One Resource definition drill program are expected in the coming weeks.
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: $0.195 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: $0.004 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: $0.0075 -6.25%
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 -4.00%
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: $0.054 -1.82%
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: $0.165 +3.13%
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 -11.11%
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: $0.004 -20.00%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.3875 -3.12%
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: $0.028 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: $0.014 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 +9.09%
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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