A cool windy morning here in Melbourne.
Overnight, the discussion around the US debt ceiling continues to gain momentum.
US Treasury Secretary Janet Yellen said that signs of market stress are now beginning to emerge as the federal government moves closer to running out of cash, and that the Biden administration’s focus is on completing a debt-limit deal rather than contingency planning for a default.
Will they raise the debt ceiling or will the US run out of cash by June 1?
Across markets…
Australian shares are set to tumble as markets across Europe and the US sold off sharply.
A shock UK inflation report sent bond yields soaring and US Treasury secretary Janet Yellen warned the country would run out of cash by June 1.
Yields on securities due in early June surged as investors steered clear of more at-risk bills, with the rates on at least one instrument topping 7 per cent, more than 4 percentage points above instruments maturing May 30, while other securities in the first weeks of June also saw their yields leap.
ASX futures down 43 points or 0.6% to 7184 near 4.30am AEST
- AUD -1.2% to 65.33 US cents
- Bitcoin -3.8% to $US26,215 near 3.17am AEST
- On Wall St: Dow -0.8% S&P 500 -0.8% Nasdaq -0.9%
- In New York: BHP -3.4% Rio -2.2% Atlassian +0.7%
- Tesla -2.0% Apple -0.3% Amazon +0.8%
- Stoxx 50 -1.8% FTSE -1.7% DAX -1.9% CAC -1.7%
- Spot gold -0.7% to $US1,961.56/oz at 1.15pm in New York
- Brent crude +0.6% to $US77.32 a barrel
- Iron ore $US95.10 a tonne
- 10-year yield: US 3.73% Australia 3.65% Germany 2.47%
- US prices as of 2.30pm in New York
Source: AFR
Alma Metals has received commitments to raise $2 million via a placement at $0.01 per share to fund further resource extension and infill drilling at the Briggs, Mannersley and Fig Tree Hill copper project in Queensland.
The project includes the Briggs Central copper deposit, where an inferred resource of 143Mt at 0.29% copper has been defined.
Alma Metals (ASX:ALM) is making good on its deal with Canterbury Resources (ASX:CBY) to earn up to 70% of the project by spending up to $15.25m on exploration over nine years, and has its sights set on an easy-mining, shallow porphyry deposit.
Porphyry mines are huge, responsible for ~60 per cent of the world’s copper, most of the molybdenum, and significant amounts of gold and silver and their large volumes make up for the low grades, typically between 0.2% to 0.7% copper equivalent.
The placement amount also includes director participation of $100,000, which is subject to shareholder approval.
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: $0.22 -2.22%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.19 -2.56%
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: $0.0265 +1.92%
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: $0.01 Unchanged
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: $0.0155 +3.33%
Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 Listed Option
Today’s Price Change: $0.014 -6.67%
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: $0.062 -4.62%
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: $0.29 -8.66%
Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.01
Today’s Price Change: $0.0045 -10.00%
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: $0.044 +4.76%
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: $0.015 -6.25%
Company: Lobe Sciences (CSE:LOBE)
Sector: Medtech
Deal Type: Pre-IPO
Raise Amount: $1.5M
Latest Entry Price: $0.05 with a 1:1 Warrants
Today’s Price Change: $0.035 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.89 -4.30%
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: $0.044 Unchanged
Company: Cipherpoint Limited (ASX:CPT)
Sector: Cybersecurity
Deal Type: Placement
Raise Amount: $2.9M
Latest Entry Price: $0.005 with a 1:1 Listed Option
Today’s Price Change: $0.006 Unchanged
Company: Metals Australia Limited (ASX:MLS)
Sector: Lithium/Graphite
Deal Type: Placement
Raise Amount: $7.8M
Latest Entry Price: $0.078 with 1:1 MLSOD
Today’s Price Change: $0.037 -5.13%
Company: BBX Minerals Ltd (ASX:BBX)
Sector: Mining
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.082 with a 1:1 BBXOA
Today’s Price Change: $0.062 -3.13%
Company: Avecho Biotechnology (ASX:AVE)
Sector: CBDDeal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.022 with a 1:2 AVEO
Today’s Price Change: $0.005 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: $0.019 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak on 1300 304 460
