TRADING HALTS
Panterra (ASX:PFT): Pending news of a capital raise
Spacetalk (ASX:SPA): Pending news of a capital raise
Balkan Mining and Minerals (ASX:BMM): Regarding a potential capital raise
Battery Age Minerals (ASX:BM8): Pending news of a capital raise
Aldoro Resources (ASX:ARN): Pending an announcement in relation to analysis of drill results for diamond hole 32 (NDD0032)
AVADA Group (ASX:AVD): Pending an announcement in relation to a proposed transaction and a capital raising involving an institutional placement
Grand Gulf Energy (ASX:GGE): Pending news of a capital raise
QMines (ASX:QML): Pending news of a proposed equity raise to be conducted by by way of a placement
Ecofibre (ASX:EOF): Pending news of a capital raise
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$1,896.01 (+0.11%)
Silver: US$23.40 (+0.22%)
Nickel (3mth): US$20,600/t (+2.39%)
Copper (3mth): US$8,361/t (+1.05%)
Oil (WTI): US$79.55 (-0.71%)
Oil (Brent): US$83.77 (-0.82%)
Iro
n 62pc Fe: US$106.77/t (+0.27%)
AUD/USD: 0.6422 (-0.2%)
Bitcoin: US$25,673 (-1.97%)
Australian shares are set to open lower as Wall Street struggled ahead of Nvidia’s pivotal earnings report.
ASX futures down 23 points or -0.3% to 7,053 near 4am AEST
Wednesday’s reporting schedule includes: APA Group (APA) | Corporate Travel (CTD) | Domino’s Pizza (DMP) | HMC Capital (formerly HomeCo) (HMC) | IDP Education (IDP) | Iluka (ILU) | Karoon Energy (KAR) | The Lottery Corporation (TLC) | Pepper Money (PPM) | Perpetual (PPT) | Qualitas (QAL) | Santos (STO) | Siteminder (SDR) | WiseTech (WTC) | Woolworths (WOW) | Worley (WOR)
- AUD +0.1% to 64.20 US cents
- Bitcoin -0.9% to $US25,800 at 4am AEST
The yield on the US 10-year note was down 2 basis points to 4.32%
On Wall Street, Nvidia shares touched an intraday record signalling investor optimism ahead of the chipmaker’s highly anticipated earnings report.
Source: AFR
Red Metal (ASX:RDM), a small-cap minerals hunter with monster ambition, has been on the lookout for something special in the world of rare earths mineralisation. And the company believes it’s found it in North West Queensland.
The Sybella project’s latest results, borne from a “proof of concept” drilling campaign, is in fact so special, says Red Metal’s MD Rob Rutherford, that his team is describing it as a “world first” REO (rare-earth oxide) discovery.
Sybella is located about 20km southwest of Mt Isa, and Red Metal’s find, according to the company, shows scope for “vast tonnages of weak-acid soluble REO mineralisation hosted in low-acid consuming granite rock”.
Sybella Project: Recent Red Metal drill hole locations on satellite image highlighting wide zones of >300 ppm NdPr oxide. (Source: Red Metals ASX announcement.)
The rare earths in question are neodymium and praseodymium (NdPr) as well as yttrium (Y) and dysprosium (Dy). These play into the EV narrative because they are essential to the production of high-performance magnets.
The discovery and the company’s excitement around it follows assay drilling results on 19 percussion holes which punched 2,280m into the granite, highlighting the quality of grade and substantial widths of the find.
Importantly, Red Metal is talking near-surface REO mineralisation that “should be recoverable by the application of a weak acid solution”.
It’s the acidic details that forms the crux of the matter, and are what gives this news its headline significance, which we’ll get to in a sec.
A $20.88m market-capper, RDM’s share price, meanwhile, has been chopping about all year (+25% YTD), but has just hit its highest level since April on the back of the company’s ASX announcement on Monday. Even still, RDM reckons the potential enormity of the find has likely largely yet to land with investors at this point.
We mentioned some of the key parts of the company’s ASX announcement in brief on Monday in our Resources Top 5 column, but to get a deeper sense of Red Metals’ latest activities, we chatted with Rutherford on what it all means and why he’s drawing comparisons between RDM and rare earths darling Meteoric Resources (ASX:MEI).
Source: Stockhead
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.15 -3.23%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.15 -9.09%
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.009 -10.00%
Company: Unith Ltd. (ASX:UNT)
Sector: AI/ChatGPT
Deal Type: Placement
Raise Amount: $4.5M
Latest Entry Price: $0.033 with a 1:1 UNTO
Today’s Price Change: $0.026 +4.00%
Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.011
Today’s Price Change: $0.009 -10.00%
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.02 with a 2:3 CDTOA
Today’s Price Change: $0.01 -9.09%
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: $0.011 -8.33%
Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.10 with a 1:4 LMGO
Today’s Price Change: $0.05 Unchanged
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: $0.17 -10.53%
Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.004 with a 1:1 option
Today’s Price Change: $0.004 Unchanged
Company: iCandy (ASX:ICI)
Sector: Gaming & Digital Advertising
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.02 with a 1:1 ICIOB
Today’s Price Change: $0.041 -6.82%
Company: Fatfish Group (ASX:FFG)
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.014 -12.50%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.67 -2.90%
Company: ReNu Energy Limited (ASX:RNE)
Sector: Energy
Deal Type: Placement
Raise Amount: $1.46M
Latest Entry Price: $0.06 with a 1:1 RNEO
Today’s Price Change: $0.033 +3.13%
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: $0.023 Unchanged
Company: Avecho Biotechnology (ASX:AVE)
Sector: CBD
Deal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.008 +6.67%
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
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak on 1300 304 460
No responses yet