How was your long weekend?
We spent ours camping along the Murray River (see pic below) 5 minutes outside of Echuca for some R&R!
In other news, a great effort from Jannik Sinner who won the 2024 Aus Open last night in a five-set epic against Daniiel Medvedev.
Market highlights
The Australian sharemarket is set to extend a five-session winning streak at the open of trading on Monday, placing the local bourse back within striking distance of its all-time high.
S&P/ASX 200 futures are 14 points, or 0.2 per cent higher, which would put the benchmark fewer than 60 points shy of its August 2021 peak.
The local sharemarket’s week-long rally has tracked gains in the US, where increasing signs of a soft economic landing have sent traders back to equities amid the risk-on mood.
“A soft landing now appears the most likely scenario and markets are pricing that in, but we’ve still got a lot of wood to chop until we get to the end of 2024,” said GSFM market strategist Stephen Miller.
If the S&P/ASX 200 can retrace its remaining lost ground it would join the same rarefied air as the S&P 500, which has charted multiple record highs last week, before paring back slightly during the Friday session.
CPI to fuel RBA hold
On Wednesday, the attention will shift back to Australia for the December-quarter consumer price index.
The consensus among forecasters is for annual inflation to moderate to 4.3 per cent from 5.4 per cent in the September quarter, which would put the pace of inflation under the Reserve Bank of Australia’s own forecasts.
Source: AFR
- MinRes and Fortescue were the headliners today, but plenty of other companies were on reporting duty
- Paladin edges closer to restart of Langer Heinrich uranium mine
- Grange Resources surges on high iron ore prices while Regis is delirious about closing its hedgebook
Uranium hopeful Paladin Energy (ASX:PDN) is inching towards the revival after six long years of the Langer Heinrich uranium mine in Namibia, feeding the first ore to its processing plant as spot prices sit at 16 year highs of $106/lb.
Already up over 20% year to date, Paladin shares have been on a tear in recent times some six years after shutting the mine and seven since falling into administration.
It says the restart of the Langer Heinrich mine is now more than 93% complete with capex estimates pushed up from US$118m to US$125m, not awful by the standards of modern project overruns.
Commercial production has been targeted for the end of the March quarter, though “lower contractor productivity” over the Christmas period could see that timeframe pushed out to the June term.
Paladin has over US$60m in the bank to see it through to first production and announced a US$150m debt facility today with Nedbank and Macquarie to provide additional capital and progress ‘growth options’ which will include exploration at the Michelin project in Canada.
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: $0.004 Unchanged
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.13 with 1:1 T92O
Today’s Price Change: $0.17 Unchanged
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.115 -4.17%
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.004 Unchanged
Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.007 with 1:2 VRCOB
Today’s Price Change: $0.006 Unchanged
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.01 with 1:2 CDTOA
Today’s Price Change: $0.007 Unchanged
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 +9.09%
Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.04
Today’s Price Change: $0.054 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: $0.13 -3.70%
Company: Excite Technology Services (ASX:EXT)
Sector: Cloud
Deal Type: Placement
Latest Entry Price: $0.005 with a 1:2 EXTOD
Today’s Price Change: $0.009 +12.50%
Company: Estrella Resources (ASX:ESR)
Sector: Mining
Deal Type: Placement
Raise Amount: $1.65M
Latest Entry Price: $0.006 with a 1:1 ESRO
Today’s Price Change: $0.005 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.35 Unchanged
Company: Sabre Resources (ASX:SBR)
Sector: Energy
Deal Type: Placement
Raise Amount: $2.6M + $700k strategic
Latest Entry Price: $0.04 with a 1:1 SBROB
Today’s Price Change: $0.027 Unchanged
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: $0.014 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: $0.022 -2.22%
If you would like more information on future Peak deals, please don’t hesitate to get in touch
Peak on 1300 304 460
Comments are closed