Happy Hump Day!
Yesterday’s Small Caps standouts were:
GCX Metals (ASX:GCX), flying 78.5% higher this morning has ended with around a 50% gain on news that it has entered into a binding conditional agreement to acquire the Dante nickel-copper-platinum group elements project located in the West Musgrave region of Western Australia.
Dante contains advanced large-scale magmatic Ni-Cu-PGE targets and PGE-Au Reef targets, including about 23km of outcropping mineralised strike grading an average of 1.1g/t PGE3ii, 1.13% V2O5, and 23.2% TiO2, with grades up to 3.4g/t PGE3.
Valor Resources (ASX:VAL) rose 33%, still basking in the cracking acquisition by Firetail Resources of a circa 80% stake in Valor’s Peru-based Picha and Charaque Copper Projects. Valor says the deal will streamline its global portfolio, allowing it to focus on its high-potential uranium and rare earth assets in Canada’s Athabasca Basin.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$1,937.21 (+0.91%)
Silver: US$24.69 (+1.81%)
Nickel (3mth): US$20,685/t (-0.53%)
Copper (3mth): US$8,455/t (+1.19%)
Oil (WTI): US$81.33 (+1.53%)
Oil (Brent): US$83.80 (-0.73%)
Iron 62pc Fe: US$108.65/t (+1.76%)
AUD/USD: 0.6479 (-0.03%)
Bitcoin: US$27,660.42 (+6.45%)
Across markets
Australian shares are poised to rise, bolstered by gains overseas after data showed the US labour market is cooling. Techs rallied as bond yields eased. Bitcoin surged on a US court ruling opening the door wider to a potential spot ETF.
ASX futures were up 46 points or 0.6 per cent to 7208 near 6.45am AEST.
Wednesday’s reporting schedule: Auswide Bank (ABA) | Brambles (BXB) | City Chic (CCX) | Healius (HLS) | Flight Centre (FLT) | Prospa (PGL)
- On Wall St: Dow +0.9% S&P +1.5% Nasdaq +1.7%
- In New York: BHP +2.2% Rio +1% Atlassian +3.9%
- Tesla +7.7% Apple +2.2% Amazon +1.3% Meta +2.7%
- Alphabet +2.8% Nvidia +4.2% NYSE Fang +3.1%
The S&P 500 logged its strongest one-day gain since June 2, while the Nasdaq notched its strongest session since July 28, and both indexes closed at more than two-week highs, according to Reuters.
All 11 S&P 500 sector indexes rose, led by communication services, up 2.5 per cent, followed by a 2.4 per cent gain in consumer discretionary.
Source: AFR
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- RareX added to its understanding that producing phosphate concentrate from a conventional flotation circuit is best for mineral recovery for both phosphate and rare earths
- A Stage 1 DFS is due at the end of the year
- Cummins Range is shaping up to be a significant REE and phosphate producer across its three-stage development plan
Bulk flotation testwork has now provided further support to RareX’s plan to produce premium-grade phosphate-rare earth concentrate in Stage 2 of its Cummins Range development.
A recent enhanced scoping study – the first proper look at the economics of building a project – envisaged a three-stage, 18 year project development strategy for Cummins Range, Australia’s largest undeveloped rare earths project and a significant source of phosphate.
The first three years of production, called Stage 1, involves a simple mining and crushing operation to produce a phosphate DSO that can be used as direct application fertiliser, RareX says.
This de-risking step requires low capex of $45m to deliver robust economics from the production of about 300,000tpa of ore grading 23% P2O5.
The substantially larger $304m capex Stage 2 beneficiation operation would then produce 550,000tpa of higher value phosphate-rare earth mineral concentrate, containing about 169,000t of P2O5 and 12,000t of total rare earth oxides (TREO).
Stage 3 will see a $63m upgrade to the Stage 2 plant in year 13 to produce a concentrate from the un-weathered, fresh rock.
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: $0.14 -3.45%
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 -15.15%
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.009 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: $0.026 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 +5.88%
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: $0.01 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: $0.01 Unchanged
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: $0.051 +4.08%
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: $0.225 +7.14%
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: $0.003 -25.00%
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: $0.036 -7.69%
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: $0.013 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.615 -3.15%
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: $0.032 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: $0.024 +4.35%
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: $0.007 +16.67%
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 Unchanged
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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