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 7 December, 2023

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

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Closer to Home

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.


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.


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

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Recent Peak Deals

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Today’s Price Change: $0.006 Unchanged

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Today’s Price Change: $0.014 Unchanged

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Company: Askari Metals Ltd (ASX:AS2)
Sector: Mining
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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)
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Company: Estrella Resources (ASX:ESR)
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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
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Company: Sabre Resources (ASX:SBR)
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Raise Amount: $2.6M + $700k strategic
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Company: Carly Holdings Ltd (ASX:CL8)
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Company: Avecho Biotechnology (ASX:AVE)
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Company: ECS Botanics Holdings Ltd (ASX:ECS)
Sector: Medicinal Cannabis
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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.

The trustee for Peak Asset Management Unit Trust (“Peak”) is a corporate authorised representative (#1295491) of Dayton Way Securities Pty Ltd (AFSL #382585).
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