Business cheers as divisive Andrews bows out early. The outgoing Victorian premier’s shock resignation blindsides rival factions allowing his handpicked deputy, Jacinta Allan, to take the reins.
What are your thoughts on yesterday’s news?
Across markets
Australian shares are poised to open lower amid a broad sell-off in New York amid concerns about consumer spending, the rate outlook, potential US government shutdown and tighter tech regulations.
ASX futures were down 22 points or 0.3% to 7048 near 7am AEST.
For local investors, CommSec notes: Core Lithium releases earnings and Myer shares trade ex-dividend and some 11 ASX-listed companies pay dividends to investors today, including the ASX, Coles, Mineral Resources and Woolworths.
- On Wall St: Dow -1.1% S&P -1.5% Nasdaq -1.6%
- In New York: BHP -2% Rio -1.7% Atlassian -2.6%
- Tesla -1.2% Apple -2.3% Amazon -4% NYSE Fang -1.8%
“The relief rally was not meant to be,” Oanda’s Edward Moya said. “Wall Street won’t be able to say the peak [in interest rates] is in place and that the disinflation process will remain if we are seeing record house prices, surging oil prices, and a surging [US] dollar.”
The S&P 500 info tech index fell 1.8 per cent on Tuesday, widening its drop from a July peak to 11 per cent, according to Bloomberg.
Source: AFR
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Peter Strachan is a capital markets veteran, resources analyst and lover of the oil and gas game. The brains behind the popular weekly StockAnalysis investment letter, which launched in 2003, Peter has worked in capital markets for over 35 years, and is a qualified metallurgist and geologist.
Lithium explorers are expanding horizons beyond established provinces, toward new areas that promise to deliver a new generation of lithium discoveries.
In Canada, early successes in Quebec and northern Ontario Provinces have persuaded companies to look in the neighbouring Province of Manitoba where $12 million market capitalisation Leeuwin Metals (ASX:LM1) aims to replicate the success of others across the border in Ontario.
Market attention has been caught by recent impressive discoveries in Australia’s Pilbara by 12-bagger and now $270 million market capitalisation Wildcat Resources (ASX:WC8) at former Tabba Tabba tantalum mine. This new discovery sits just north of the massive Pilgangoora and Wodgina lithium projects of the $12 billion market cap Pilbara Minerals (ASX:PLS), and the $13 billion diversified miner and gas giant, Mineral Resources (ASX:MIN) respectively.
Further west in the Pilbara, another +10-bagger and now $1.1 billion company, Azure Minerals’ (ASX:AZS) Andover lithium and nickel discoveries, have established the Pilbara, alongside IGO’s 49% owned, massive Greenbushes mine in the southwest of Western Australia, as the dominant growth regions for spodumene concentrate on a global scale.
The 2023 price correction for spodumene concentrate from over US$5,000 to around US$2,440 per tonne, while battery grade lithium carbonate declined from over US$80 to US$23.7 per kg, has taken some of the shine off the market.
However, current Li price levels leave plenty of profit for low-cost producers like Greenbushes, which delivers Li concentrate for less than US$380 per tonne, while the Pilgangoora operations have FOB costs of less than US$640 per tonne.
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: $0.011 Unchanged
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.115 Unchanged
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.12 +4.35%
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.006 -14.29%
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: $0.025 Unchanged
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 +20.00%
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: $0.0095 +5.56%
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 +20.00%
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: $0.044 -4.35%
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: $0.18 -10.00%
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: $0.0035 -12.50%
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: $0.038 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 -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: $0.595 -2.46%
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: $0.03 -3.23%
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: $0.018 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: $0.0045 +12.50%
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: $0.021 -4.55%
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