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 23 August, 2023

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

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Closer to Home

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

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Recent Peak Deals


Company: Terra Uranium (ASX:T92)
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Today’s Price Change: $0.15 -3.23%

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Today’s Price Change: $0.026 +4.00%

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Company: Castle Minerals Ltd. (ASX:CDT)
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Company: Avenira Ltd. (ASX:AEV)
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Company: Latrobe Magnesium Ltd. (ASX:LMG)
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Today’s Price Change: $0.05 Unchanged

Company: Askari Metals Ltd (ASX:AS2)
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Today’s Price Change: $0.17 -10.53%

Company: Tymlez Ltd (ASX:TYM)
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Deal Type: IPO/On-market purchase
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Latest Entry Price: $0.004 with a 1:1 option
Today’s Price Change: $0.004 Unchanged

Company: iCandy (ASX:ICI)
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Today’s Price Change: $0.041 -6.82% 

Company: Fatfish Group (ASX:FFG)
Sector: Fintech
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Today’s Price Change: $0.014 -12.50%

Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
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Raise Amount: $1M+
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Today’s Price Change: $0.67 -2.90%

Company: ReNu Energy Limited (ASX:RNE)
Sector: Energy
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Company: Carly Holdings Ltd (ASX:CL8)
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Company: Avecho Biotechnology (ASX:AVE)
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Company: ECS Botanics Holdings Ltd (ASX:ECS)
Sector: Medicinal Cannabis
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If you would like more information on future Peak deals, please don’t hesitate to get in touch.

The trustee for Peak Asset Management Unit Trust (“Peak”) is a corporate authorised representative (#1295491) of Dayton Way Securities Pty Ltd (AFSL #382585).
Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs.  Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances.  If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au  or by telephoning
Peak on 1300 304 460

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