If you’re curious how a near-collapsed ASX gold company can be brought back to life, have a read here
Market Highlights
ASX 200 futures are pointing up 30 points or 0.3 per cent to 8994.
All US prices near 3.15pm New York time.
- AUD -0.7% to US70.39¢
- Bitcoin -1.8% to $US66,295
- On Wall St: Dow +0.03% S&P +0.2% Nasdaq +0.4%
- VIX -0.17 to 20.12
- Gold +2.1% to $US4977.80 an ounce
- Brent oil +4.4% to $US70.36 a barrel
- Iron ore -0.3% to $US95.95 a tonne
- 10-year yield: US 4.08% Australia 4.72%
Across Markets…
Australian shares are poised to open higher, though futures faded from earlier gains in line with moves in New York after US Federal Reserve policymakers put a rate rise on the radar.
ASX 200 futures were up 30 points or 0.3 per cent to 8994 near 7.15am. The Nasdaq Composite was 0.4 per cent higher at 3.15pm in New York (7.15am AEDT), after having risen more than 1.2 per cent.
Rio Tinto, Telstra and Wesfarmers headline a long list of company reports on Thursday, with January jobs data at 11.30am.
US equities pared earlier gains after the latest Federal Reserve policy meeting minutes showed “several” officials open to lifting rates if inflation persists.
Oil was more than 4 per cent higher, and holding its advance, after a report by Axios that a joint US-Israeli attack on Iran would likely be a massive, weeks-long campaign. The US will soon have two aircraft carriers, a dozen warships, hundreds of fighter jets and more air defence systems in the Middle East, Axios also said.
Source: AFR
Magmatic bulks up pipeline of gold targets with latest Weebo drill hits
- Magmatic Resources strengthens its pipeline of gold targets along 80km of strike at Weebo in WA
- Aircore drilling has returned encouraging gold mineralisation across several prospects, adding to significant intercepts from past drilling
- The company is planning an infill drilling program
Special Report: Magmatic Resources has beefed up its pipeline of gold targets across 80km of strike at the Weebo gold project in WA with aircore drilling returning encouraging mineralisation at several prospects.
The company has completed two aircore and two RC drilling programs since acquiring Weebo in July last year.
Its second phase of aircore drilling was designed to better define four prospects along the 5km long Ockerburry Trend.
This drilling has now extended known oxide mineralisation to the south of Ockerburry 3.
New results include 12m at 1.34g/t Au from 44m, 16m at 1.26g/t from 44m and 8m at 1.32g/t from 44m.
These outcomes build on a string of notable hits from historical drilling at Ockerburry, including 4m at 29.9g/t Au from 8m and 16m at 2.8g/t from 52m.
In addition, recent aircore and RC drilling by Magmatic Resources (ASX:MAG) also appeared to hit the sweet spot at Ockerburry 3.
Here, high-grade intercepts included 12m at 5.13g/t Au from 66m and 12m at 3.2g/t from 49m.
Separately, the company has also defined an 800m long mineralised trend at the Scone Stone prospect just to the north where historical drilling returned 3m at 15.6g/t Au from 69m and 9m at 4.6g/t from 64m.
Magmatic’s previous drilling at Scone Stone also delivered up to 6m at 2.40g/t Au from 80m and 10m at 1.13g/t from 112m.
“RC drilling at Ockerburry 3 and Scone Stone prospects has further defined the potential for significant shallow mineralisation at both,” said MAG managing director David Richardson.
“These prospects remain to be fully defined and tested along their respective 5km and 800m strikes and the company is planning on further advancing each prospect with drilling and potential resource definition.”
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Source: Stockhead
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Performance Since Entry: +69%
Company: Eden Innovations (ASX:EDE)
Sector: Construction/Clean Energy
Deal Type: Shortfall
Latest Entry Price: $0.035 with 1:2 option, strike $0.07
Price Performance Since Entry: +529%
Company: Tasman Resources Ltd (ASX:TAS)
Sector: Gold/Silver/Mining
Deal Type: Placement
Latest Entry Price: $0.0125 with 1:2 option, strike $0.02
Price Performance Since Entry: +452%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +338%
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Price Performance Since Entry: +225%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +45%
Company: Biotron Ltd (ASX:BIT)
Sector: Biotech
Deal Type: Placement
Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Price Performance Since Entry: 0%
Company: Eclipse Metals Ltd (ASX:EPM)
Sector: REE
Deal Type: Placement
Latest Entry Price: $0.015
Price Performance Since Entry: +53%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Price Performance Since Entry: +1,181%
Company: Dimerix Ltd (ASX:DXB)
Sector: Biotech
Deal Type: Rights Issue
Raise Amount: $800,000
Latest Entry Price: $0.08 with 1:1 option, strike $0.126
Price Performance Since Entry: $0.505 +494%
Company: Noviqtech Ltd (ASX:NVQ)
Sector: Blockchain
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.02 with 1:1 option $0.08 strike
Price Performance Since Entry: +45%
Company: Critica Limited (ASX:CRI)
Sector: REE
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.0075 with a 1:1 CRIO
Price Performance Since Entry: +260%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Price Performance Since Entry: +61%
Company: Kalgoorlie Gold Mining Limited. (ASX:KAL)
Sector: Gold/Mining
Deal Type: Placement
Raise Amount: $2.3M
Latest Entry Price: $0.026 with 1:2 option $0.032 strike
Price Performance Since Entry: +85%
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