New month, new sentiment in markets, with a looming rate hike and gold pulling back.
Gold fell more than 8% toward US$4,900/oz on Friday, following Thursday’s record high of US$5,608. Even with the drop, prices are still on track for a sixth straight monthly gain, the strongest stretch since the 1980s.
Across Markets…
The sharemarket is poised for a subdued start on Monday as robust economic data fuels expectations that the Reserve Bank of Australia will raise interest rates this week.
The S&P/ASX 200 Futures Index indicates a fall of 60 points, or 0.7 per cent, in the sharemarket, continuing last week’s decline. Still, overall, it finished up 1.8 per cent in January, which was the best monthly performance since August.
Investors are now preparing for the RBA to lift the cash rate by 25 basis points to 3.85 per cent on Tuesday, following stronger-than-expected inflation and employment figures.
Financial markets have priced in a 74 per cent chance that the central bank will increase rates, which would be the first rate rise in more than two years. It’s a substantial change in sentiment, considering that only two months ago, the consensus among analysts leaned towards further policy easing.
The RBA cut the cash rate three times last year, but governor Michele Bullock has warned the rate would rise again if there was a concerning uptick in inflation.
Source: AFR
Barkly Rare Earths surges on debut as investors back critical minerals junior
- Barkly Rare Earths shares trade 25% higher on ASX debut
- Experienced team aims to grow 40Mt at 2100ppm TREO rare earths resource in the NT
- $8m IPO to bankroll 10,000m of drilling to prove up exploration targets that could blow current resource out of the water
Special Report: The critical minerals boom is alive and well, with new ASX player Barkly Rare Earths surging 25% within minutes of its debut on the local bourse on Friday.
The rapid rise follows a successful $8 million IPO at 20c per share through joint lead managers Leeuwin Wealth and Cumulus Wealth.
It brings an advanced NT rare earth explorer to the local market at a time when the magnet metals are increasingly becoming a sticking point in the fundamental geopolitical struggles of the modern world.
Barkly Rare Earths’ (ASX:BAK) project of the same name contains an inferred mineral resource estimate of 40Mt at 2100ppm total rare earth oxides including 82,000t of TREO.
And 34% of those are high value magnet rare earth oxides, all contained within a shallow, flat-lying deposit, which remains open in all directions.
That’s at a 430ppm cut-off grade for neodymium-praseodymium, with met testwork already demonstrating the firm’s capacity to achieve a 2.9% TREO concentrate with a 74% magnet rare earth oxide extraction rate through conventional leaching.
Resource growth is the immediate focus, with a program planned and contractor engagements already commenced for an initial 10,000m drill campaign that will see 400 shallow holes punched from late March.
The plan is to expand the inferred mineral resource with the target area covering just 6% of a 5030km2 tenement package.
“It is an incredibly exciting day with the listing of Barkly Rare Earths. Since I founded the company in 2020 with Rene Sterk and Richard Hall, and made the discovery at Barkly in 2022, we have been laser-focused on creating an Australian rare earths company of global consequence,” managing director Craig Wright said.
“The funds from the listing will allow us to aggressively pursue an expansion of the inferred mineral resource within the very large drilling target.”
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Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Today’s Price Change: $0.011 -8.33%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.175 -5.41%
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Today’s Price Change: $0.047 +4.44%
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
Today’s Price Change: $0.046 -6.12%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.057 +3.64%
Company: Biotron Ltd (ASX:BIT)
Sector: Biotech
Deal Type: Placement
Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Today’s Price Change: $0.0035 -12.5%
Company: Eclipse Metals Ltd (ASX:EPM)
Sector: REE
Deal Type: Placement
Latest Entry Price: $0.015
Today’s Price Change: $0.024 -4%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Today’s Price Change: $16.69 -0.95%
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
Today’s Price Change: $0.505 -0.98%
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
Today’s Price Change: $0.027 -3.57%
Company: Critica Limited (ASX:CRI)
Sector: REE
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.0075 with a 1:1 CRIO
Today’s Price Change: $0.030 -6.25%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Today’s Price Change: $0.10 -9.09%
Company: WhiteHawk Ltd. (ASX:WHK)
Sector: Cybersecurity & AI
Deal Type: Placement
Raise Amount: $1.7M
Latest Entry Price: $0.01 with 1:3 option $0.02 strike
Today’s Price Change: $0.0085 +6.25%
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
Today’s Price Change: $0.045 -8.16%
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