How was your weekend?
Saudi Arabia is actively courting Australian miners and mining service companies as it tries to kickstart a $100 billion-a-year industry almost from scratch.
The government has just this month doubled its estimate of the country’s mineral wealth to $US2.5 trillion ($3.8 trillion), and wants to attract $US200 billion of investment by the end of the decade.
Australian companies EV Metals and European Lithium have already announced plans to set up processing facilities in the kingdom, taking advantage of cheap energy costs.
Market highlights
The Australian sharemarket looks set to track a US rally that pushed the S&P 500 and the Nasdaq to records last week, as price action continues to be dominated by expectations that the Federal Reserve will cut rates this year. Futures indicate the ASX will open up 0.4 per cent, extending Friday’s session that sent the benchmark S&P/ASX 200 up more than 1 per cent to 7421.2.
That is still 2.8 per cent below its own record forged in August 2021.On Wall Street, it was another leg higher for the tech sector that drove the S&P 500 up 1.2 per cent to a record for the first time in two years, once again fuelled by the hype around artificial intelligence, and a rally in US chipmakers.
The same group of companies that powered 2023’s rally is again driving the new year advance. So far in January, AI hopeful Nvidia, Microsoft and Facebook-parent Meta Platforms are the S&P 500’s biggest gainers in points terms.
“Stocks continue to demonstrate their resiliency despite a muted start to the year,” said Anthony Saglimbene, chief market strategist at US-based Ameriprise Financial.
Source: AFR
- Bioxyne subsidiary Breath Life Sciences launches CanxChange.com.au
- Offers transparency in pricing and supply in Australia’s B2B prescription cannabis industry
- Platform has seen more than $10 million of sale interests uploaded in first week since launch
Special Report: Bioxyne subsidiary Breathe Life Science Wholesalers has kicked off 2024 with a new platform to target the $500m+ medical cannabis market in Australia.
Bioxyne (ASX:BXN) says the CanxChange.com.au platform is a marketplace solution to help licenced businesses and pharmacies navigate the highly regulated medical cannabis market environment safely, with greater transparency and ease.
CanxChange Aus is operated by BXN subsidiary Breathe Life Sciences Wholesalers (BLWS).
BLWS holds licenses to import, export, store and distribute wholesale Schedule 3, 4, and 8 controlled substances including medicinal cannabis, following TGA rescheduling last July.
CEO Sam Watson says CanxChange aims to solve market inefficiencies and create more transparency in pricing and supply in the B2B prescription cannabis industry in Australia, which is moving rapidly towards $1 billion per year.
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: $0.18 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: $0.006 -14.29%
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: $0.007 +7.69%
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 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: $0.054 -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: $0.14 -12.50%
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 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 -16.67%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.3625 -5.84%
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: $0.03 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: $0.022 Unchanged
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Peak on 1300 304 460
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