Hang in there.. it’s almost Friday!
Across Markets
Market highlights
ASX futures down 21 points or 0.3% to 7188 near 7am AEDT
- AUD -0.03% to 65.50 US cents
- Bitcoin +1.1% to $US44,051 at 7.16am AEDT
- On Wall St at 2.30pm: Dow +0.04% S&P -0.1% Nasdaq -0.2%
- In New York: BHP +0.9% Rio +0.9% Atlassian -0.3%
- Tesla +1.2% Apple -0.4% Amazon -1.1% Citigroup +3%
- VIX -0.9% QQQ -0.4% TLT +1.2%
- Stoxx 50 +0.7% FTSE +0.3% DAX +0.8% CAC +0.7%
- Spot gold +0.5% to $US2029.32/oz at 2.27pm in New York
- Brent crude -3.6% to $US74.44 a barrel
- Iron ore +2.2% to $US131.85 a tonne
- 10-year yield: US 4.13% Australia 4.28% Germany 2.20%
- US prices as of 3.09pm in New York
Australian shares are poised to fall as Wall Street struggled to hold in positive territory after oil prices plunged amid heightening concerns of a supply glut. The 10-year US yield fell towards 4.1 per cent.
US oil was 4.1 per cent lower near 3.15pm in New York, falling below $US70 a barrel. Brent slid more than 3.5 per cent, falling below $US75 a barrel. In a note, Goldman Sachs said: “We continue to expect that solid demand growth, a slowdown in US supply growth, and low OPEC+ supply will keep Brent in the $US80-100/bbl range in 2024.”
The oil market’s turmoil offset more positive US labour market news. The monthly ADP private payrolls report showed that American employers slowed hiring this month, bolstering evidence of a cooling economy and bets of a swift policy pivot at the Federal Reserve.
Shares in Citigroup were sharply higher after CFO Mark Mason said the Wall Street bank is still on target to report full-year revenue between $US78 billion and $US79 billion despite a slump in trading revenue.
Source: AFR
Like the ASX, the Canadian bourse has traditionally been a prolific breeding ground for exploration and mining stocks.
Despite fears it is turning into a low volume “ghost town of trading” there are huge pockets of value to be found exclusively on the Canadian bourse.
All up, 19 resources stocks on the TSX and TSXV have posted gains over 200% in 2023, according to IRESS data. Five have posted gains over 500%.
This compares favourably to the ASX, where just nine stocks have made gains of over 200%, and five over 500%.
But there’s something fascinating when you dig deeper… Canadian investors love gold stocks even more than the Aussies.
FOUNDERS METALS (TSXV:FDR)
Founder acquired the historical Antino gold project in the small South American country of Suriname in March this year.
It is surrounded by some monster mines, including Newmont’s 7Moz Merian mine and Zijin’s 13.7Moz Rosebel operation.
Founders rerated after its maiden drill program returned consistent shallow results like 9m at 11g/t and 12m at 8.7g/t, culminating in a highlight 15.5m at 30.72g/t.
High grade mineralisation runs for 575m and remains open all over the joint, the company says.
MINSUD RESOURCES (TSXV:MSR)
MSR has a two main projects in Argentina: Chita Valley (copper-moly-gold-silver) and La Rosita (gold-silver).
Chita Valley is a porphyry system with a current resource of 386 million pounds of copper (175,000t) which is subject to an earn in with mining giant South32 (ASX:S32).
S32 (50.1% ownership) is spending C$9.1m this year to drill 21,700m to expand resource and test other targets.
So far, drilling has expanded the ‘Chinchillones’ porphyry-epithermal system with monster hits like 786m at 0.43% Cu, 0.23g/t Au, 15.78g/t Ag from 456m to 1,242m (open at depth).
This includes a high grade 166.3m at 1.35% Cu, 0.54g/t Au and 26.63g/t Ag.
A resource upgrade is being planned, the company says.
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: $0.006 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: $0.14 Unchanged
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.13 -3.7%
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: $0.019 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: $0.007 +16.67%
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: $0.01 +11.11%
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: $0.014 Unchanged
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 -1.82%
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: $0.17 -2.86%
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: $0.008 Unchanged
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: $0.006 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.39 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: $0.029 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: $0.017 +13.33%
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: $0.003 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: $0.024 +4.35%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak on 1300 304 460
No responses yet