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 20 September, 2023

Happy hump day!

The state of Minas Gerais has the largest lithium resources in Brazil and is looking to leverage this with the launch of the Lithium Valley Brazil initiative to generate jobs and income for its population.

This initiative seeks to transform the Jequitinhonha Valley into a technology hub for battery production and other value added products by formulating public policies to attract companies and investments, qualify the workforce, promote technology, and provide the necessary infrastructure for the region’s growth.

As one of the companies with existing resources in this region, Latin Resources (ASX:LRS) is understandably keen to play a key role in this effort and is looking to follow in the footsteps of lithium producer Sigma Lithium Resources.

The market is certainly starting to take an interest in the area with ASX:OZM flying on the back of their lithium acquisition. 

Whats your next Brazilian Lithium play? 


Gold: US$1,945.6 (+0.66%)

Silver: US$23.305 (-0.31%)

Nickel (3mth): US$19,936/t (-1.56%)

Copper (3mth): US$8,375/t (-0.55%)

Oil (WTI): US$91.20 (+0.57%)

Oil (Brent): US$94.27 (+0.14%)

Iron 62pc Fe: US$121.29/t (+0.6%)

AUD/USD: 0.6445 (+-0.02%)

Bitcoin: US$26,604.00 (+0.17%)

Across markets

Australian shares are poised to open lower. Shares were modestly lower in New York, off session lows. Instacart surged more than 40 per cent on its debut; it ended the day up 12 per cent.

The focus is squarely on the Federal Reserve’s policy statement, scheduled for 4am AEST Thursday. While no rate change is expected, markets are keen for any hint of what lies ahead for November’s meeting.

ASX futures were down 14 points or 0.2% to 7186 near 7am AEST.

  • On Wall St: Dow -0.3% S&P -0.2% Nasdaq -0.2%
  • In New York: BHP -0.7% Rio +0.2% Atlassian +0.2%
  • Tesla +0.5% Apple +0.6% Amazon -1.7% Meta +0.8%

The highlight of New York’s day was the debut of Instacart, the latest company to spark hopes of a revival for IPOs.

Instacart’s shares opened trading at $US42 each after selling for $US30 — the top of a marketed range — to raise $US660 million for the company and selling stockholders in the year’s fourth-biggest US IPO. The shares, which jumped as much as 43 per cent, closed at $US33.70 in New York, giving the company a market value of $US9.3 billion.

Source: AFR

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Closer to Home
  • The ‘drone in the box’ is changing the game for the drones market
  • RocketDNA’s CEO Christopher Clark explains big opportunities that lie ahead
  • Are there other drone stocks on the ASX?

By 2030, the commercial drone market is projected to reach almost US$60 billion, driven by a steady Compound Annual Growth Rate (CAGR) of 7%.

Drones have rapidly become essential tools for businesses, and while some applications like aerial deliveries are still in their infancy, other uses have exploded globally.

In mining for example, drones are being used extensively to survey large tracts of land, capture aerial images, and collect data from areas where traditional methods may not be feasible.

The CEO of drones company RocketDNA (ASX:RKT) (formerly Delta Drones ), Christopher Clark, said that while people have seen drones before, most never really understood how they could be applied in business.

“That was always the hardest thing, I guess, to try to get investors’ heads across that you can make real, serious money with drones,” Clark told Stockhead.

Source: Stockhead

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