Good Morning from sunny Perth!
We would like to thank everyone that made it along to the 2023 Spotlight Investor Conference yesterday, we had an amazing day!
To the attendees, presenters, sponsors and organizers. We really appreciate your contributions to make for a successful event.
Across markets
Australian shares are poised to slip. Wall Street is falling after mixed profit reports from Microsoft and Alphabet. Oil was volatile. The two-year bond yield rose to 5.12%.
Jerome Powell is set to give a key Federal Reserve speech at 7.30am AEDT. US GDP results are also expected. A Bloomberg survey of economists suggests GDP is projected to have grown at an annual rate of 4.5 per cent last quarter – that would be more than double the pace of the quarter before and the fastest pace since the end of 2021.
The S&P 500 dropped 1 per cent and the Nasdaq underperformed. Alphabet slid 9.1 per cent to a three-month low, as its cloud business suffered. It was the opposite for Microsoft, which jumped 2.7 per cent. Meta is due to report after the closing bell. Analysts expect its best results for two years.
Today’s AGMs: Challenger, Woolworths, Reliance Worldwide, APA, JB Hifi, Boral, South32, Wesfarmers, Austal
Market highlights
ASX futures down 22 points or -0.2% to 6845 near 5am AEDT
- AUD -0.7% to 63.09 US cents
- Bitcoin +2.2% to USUS34,594 at 4.47am AEDT
- On Wall St: Dow -0.4% S&P -1.5% Nasdaq -2.5%
- In New York: BHP +1.1% Rio +1.0% Atlassian –5.7%
- Tesla -1.0% Apple -1.4% Amazon -5.4%
- VIX +10.0% QQQ -2.4% TLT -2.5% MOVE -2.8%
- Stoxx 50 +0.2% FTSE +0.3% CAC +0.1% DAX +0.3%
- Spot gold +0.7% to USUS1,984.69 /oz at 2pm in New York
- Brent crude +2.0% to USUS89.81 a barrel
- Iron ore +1.08% to USUS117.35 a tonne
- 10-year yield: US 3.88% Australia 3.00% Germany 2.60%
- US prices as of 2pm in New York
Source: AFR
- Bishop is led by 17Moz Au of exploration and development experience
- All directors helped lead Cardinal Resources in proving up the +7.5Moz Namdidi gold deposit
- Drilling is underway in Senegal and exploration in Ghana is pegged for Q1 next year
You’ll be hearing a lot more of Bishop Resources in the coming months – a gold developer that has set up shop in West Africa’s highly-regarded mining jurisdictions of Ghana and Senegal – run by experts who have done it all before with previous ASX market darling Cardinal Resources.
It owns two project areas that have a bright future for further exploration and development in two Tier 1 gold districts of West Africa.
The projects come with a plant each already – one ready for refurbishment and the other ready for construction. We’ll get to them, but first – let’s talk about the team that’s driving these projects.
A wealth of experience with strong West African connections
Bishop is led by a team of minted African gold project developers from Cardinal fame, who have had massive success in Ghana, including the discovery of the 7.5Moz Namdini gold mine.
Between them, they have been driving forces behind ~17Moz of discovered and developed gold over the past decade.
Bishop chair Kevin Tomlinson has a wealth of experience mining in Africa, and has had roles as director of Cardinal, ex-director of Centamin, Orbis Gold and Medusa Mining, and is current non-exec chair of Bellevue Gold.
A founding director of Cardinal Resources, Malik Easah, a prominent Ghanaian, is the current director of Asante Gold and brings his expertise as executive director of Bishop.
So does David Michael, also from Cardinal, who has founded numerous ASX-listed companies such as Beacon Minerals, St George Mining, Argent Minerals and Western Yilgarn.
Other directors include Michele Muscillo, who hails from Aeris Resources and was on the board with Cardinal, as well as Alec Pismiris who also founded Cardinal and is a current director of Agrimin, Aguia Resources, Mount Magnet South and Pelican Resources.
With a target IPO in Q2 next year, these mining experts are putting their money where their mouth is for gold projects as they currently make up ~46% of the share registry.
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: $0.011 +10%
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.14 +7%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.14 -3.45%
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.005 Unchanged
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: $0.02 -4.35%
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: $0.008 +14.29%
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: $0.010 -9.26%
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: $0.013 +8.3%
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: $0.046 -6.19%
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: $0.185 +2.70%
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: $0.035 Unchanged
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: $0.01 -9.09%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.62 +3.80%
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: $0.025 -3.69%
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: $0.015 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: $0.004 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: $0.023 +4.3%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak on 1300 304 460
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