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• Aug 14, 2020 | 01:25 PM | AEST

  Platina Resources Allots 10Mn Shares as Consideration for Newly Acquired Challa Gold Project

  Platina Resources Limited (ASX: PGM) has confirmed the allotment of 10 million ordinary fully paid shares as consideration for the purchase of a 100 per cent interest in the Challa Gold Project. 

  The Challa gold tenements include 2 high-quality exploration licences which cover 293km² and are positioned in-between the prolific Mt Magnet and Sandstone gold districts in Western Australia, 500km north-east of Perth. 

  At the project, PGM is set to begin field activities including a soil geochemistry and low-cost Rotary Air Blast drilling program to define and test primary targets.

  On 14 August, at AEST 12:38 PM, PGM was trading at AUD 0.050, with a market cap of 19.29 million, up by 2.041 per cent.

• Aug 14, 2020 | 01:25 PM | AEST

  Cirralto focussed on growing the Spenda Business Payments Services with $2.7 Million Capital Raising

  Australian digital payment service provider, Cirralto Limited (ASX: CRO) has received applications for raising $2.712 million (before costs) under a placement to institutional and sophisticated investors at an issue price of $0.01 per share. The Company would issue 271,200,000 fully paid ordinary Cirralto shares. 

  The placement was initially sought to raise $2 million received strong demand from several new institutional and sophisticated investors, and the Company has elected to accommodate a portion of the excess demand for raising an additional $712,000. 

  The funds raised will be utilised to support growth, debt reduction, additional payments, product development, marketing, costs associated with the completion of Appstablishment acquisition and general working capital requirements.

  Canary Capital and CPS Capital acted as joint lead managers to the issue. They shall receive a fee of 6% of the amount raised and 100 million options exercisable at $0.025 expiring on 28 July 2023.

• Aug 14, 2020 | 01:24 PM | AEST

  Golden State Mining’s Yule South Project Delivers First Pass Gold Hits

  Golden State Mining Limited (ASX:GSM) has reported highly encouraging assay results for the first two target areas (Targets 1 & 5) drilled at the Yule South project, under the Phase 1 Yule South Aircore drilling program over five gold target areas.

  • Target 1 returned best intercept of 8m @ 0.92g/t Au from 96m incl. 4m @ 1.81 g/t Au from 96m (20GSYSAC002)
  • Target 5 returned best intercept of 19m @ 91ppb Au from 46m incl. 4m at 350ppb Au from 58m (20GSYSAC0062)

  The drill results returned from wide-spaced reconnaissance aircore drilling based solely on aeromagnetic interpretation in the first two areas drilled. The results confirmed the sturdy geological greenfield targeting and strong prospective nature of GSM’s extensive West Pilbara ground holding.

  Moreover, two new target corridors have been interpreted based on initial results and geological observations. These shall be the subject of future drill planning in the coming months.

  Over the course of next month, GSM looks forward to obtaining additional assay results for Targets 2, 3 and 4 from the programme and recommencing Phase 2 drilling in September.

• Aug 14, 2020 | 12:58 PM | AEST

  Waypoint REIT Updates on Inaugural USPP Issuance and FY20 Guidance

  Waypoint REIT (ASX:WPR) declared that its inaugural US Private Placement has been priced with US$178 million of notes to be issued, split across 7, 10 and 12 year tranches with a weighted average maturity of 9.2 years. The company expects that the transaction would be funded on 29 October 2020 and is subject to standard investor due diligence and documentation.

  Following the conclusion of these key capital management programs and a review of operating expenses for the rest of FY2020, WPR upgraded its FY2020 guidance for Distributable Earnings growth over FY2019 from 3% - 3.75% to 4% - 4.25% and is subjected to material changes in market conditions as a result of COVID-19.

• Aug 14, 2020 | 12:58 PM | AEST

  Sydney Airport Raises $1.3 billion and Provides Traffic Update

  Sydney Airport (ASX:SYD) announced the completion of the institutional component of its $2 billion equity raising and released a traffic update for July. Details Include:

  • SYD raised gross proceeds of approximately $1.3 billion through the Institutional Entitlement Offer at $5.3 per new share which was $0.74 above the offer price of $4.56 per security.
  • Total passenger traffic in July 2020 was 317,000 passengers, down 91.8% on pcp.
  • 42,000 international passengers and 276,000 domestic passengers passed through the airport, down by 97.2% and 88.5%, respectively.

• Aug 14, 2020 | 12:57 PM | AEST

  National Australia Bank Provides Q3FY2020 Trading Update; Reports Unaudited Statutory NPAT of A$1.50 Billion

  National Australia Bank Limited (ASX:NAB) has provided Q3FY2020 trading update with the following financial highlights:

  • Unaudited statutory NPAT was A$1.50 billion.
  • Unaudited cash earnings were A$1.55 billion. 

  

  Operating Performance:

  As compared to 1H2020 quarterly average and excluding large notable items, cash earnings improved 24% & cash earnings before credit impairment charges rose 17%.

  • Revenue grew 10%, which shows higher Markets & Treasury income along with reversal of unrealised mark to market losses on the high-quality liquid portfolio from March.
  • Net interest margin is broadly stable.
  • Expense ratio improved 2% due to increased accruals and remuneration.

• Aug 14, 2020 | 12:44 PM | AEST

  Prescient Therapeutics Reveals Cell Therapy Collaboration with World-class Cell Therapy Institute Peter Mac

  Prescient Therapeutics Limited (ASX:PTX) announced a collaboration with the world-renowned Peter MacCallum Cancer Centre for developing new cell therapy technologies, including CAR-T technologies.

  Under the terms of this contract, PTX will own the resulting IP from the research program being undertaken by Peter Mac’s Professor Phil Darcy.

  Moreover, Prescient will retain its formerly established IP and look to extend this portfolio through this partnership with Peter Mac.

  On 14 August 2020, PTX was trading at A$0.060 at AEST 12:20 PM.

• Aug 14, 2020 | 12:44 PM | AEST

  Middle Island Reports a 13% Rise in Two Mile Hill Open Pit Mineral Resource

  Middle Island Resources Limited (ASX:MDI) has reported a 13 per cent increase in the Two Mile Hill open pit Mineral Resource, to 1.25Mt at 1.36g/t Au for 55,000oz, within its Sandstone gold project.

  The updated resource estimate has been announced subsequent to the completion of infill and extension drilling undertaken under 2020 exploration and resource definition drilling campaign (+40,000m) at Sandstone.

  Following the updated resource estimate, Sandstone’s existing total project Mineral Resources has increased to 657,500oz gold, which does not comprise the five new satellite gold deposits where resource definition drilling is being completed.

  As at 11:55 AM AEST, MDI is trading at $0.020.

• Aug 14, 2020 | 12:40 PM | AEST

  RBA Expects a Further 7% Contraction in Australian Economy In 2020

  RBA governor Philip Lowe in the opening statement to the House Representatives addressed that the June quarter data is expected to show a contraction of nearly 7%. However, the good part here may be that the contraction is not as large as it was expected.

  The labour market outcome is poor. Hours worked were earlier projected to fall by staggering 20% over the first half of this year. However, the actual fall was half of this driven by preliminary achievement in containing the virus and the quicker easing of some restrictions.

  Philip Lowe also stated that there is a high level of uncertainty about the outlook and economic recovery and it is directly related on how successfully the virus can be contained. He also expects around 6% contraction in Australian economy this year and later grow by 5% in 2021 and 4%in 2022.

• Aug 14, 2020 | 12:40 PM | AEST

  APN Funds Management Confirms Property Acquisitions

  APN Funds Management Limited, as responsible entity for APN Convenience Retail REIT (ASX: AQR), has confirmed its decision to buy Coles Express Acacia Ridge, QLD (Acacia Ridge), Coles Express Moorooka, QLD (Moorooka) and Coles Express Cairns, QLD (Cairns) collectively for $27.5 million. Some details include:

  • Sites were all newly built between mid-2016 and the end of 2017
  • Over 90% of the income from the sites is securely leased to major tenants and rest of the rent is derived from local convenience retailers
  • These acquisitions together with the Brisbane Airport Link Service Centre acquisition in early July, take the AQR’s total acquisitions for FY2021 to $38 million

• Aug 14, 2020 | 12:39 PM | AEST

  Baby Bunting Turns A$10 million Profit, EBITDA Rises 24.1%

  Baby Bunting Group (ASX:BBN) released its results of the financial year 2020 (ended 28 June 2020)-

  • Total sales of A$405.2 million recorded in FY20, up 11.8% on the pcp (ended 30 June 2019).
  • Pro forma EBITDA rose by 24.1% to A$33.7 million.
  • Statutory NPAT was down 14.3%, reported to be A$10.0 million.

  Moreover, the company mentioned that it did not qualify for, or obtain, any JobKeeper support.

  Baby Bunting declared a fully franked final dividend of 6.4 cents per share, indicating 10.5 cents dividend for the full year.

  On 14 August 2020, BBN stock was trading at A$4.060 up by 7.979% at AEST 12:12 PM.            

• Aug 14, 2020 | 12:39 PM | AEST

  Mesoblast Stock Skyrockets ~37% After US FDA Votes Nine to One in Favor of Remestemcel-L

  Global leader in cellular medicines, Mesoblast Limited (ASX:MSB) revealed that the Oncologic Drugs Advisory Committee (ODAC) of the US FDA voted in favor that the available data support the efficacy of remestemcel-L (RYONCIL™) in pediatric patients with SR-aGVHD.

  Moreover, RYONCIL has been accepted for Priority Review by the FDA with an action date of 30 September 2020, under the PDUFA.

  Once approved by the PDUFA date, MSB intends to launch RYONCIL in the US in 2020.

  Post announcement, on 14 August 2020 (AEST 11:39 AM), MSB was trading at A$4.650 climbed by 37.574%.

• Aug 14, 2020 | 12:38 PM | AEST

  Saunders International Unveils New Project Wins, FY20 Results Expected Shortly

  Multi-disciplined engineering and construction company, Saunders International Limited (ASX:SND) has been awarded ~ $12 Mn in new projects across the Group amid these unprecedented times, demonstrating stability and resilience of its renewed operating model.

  The new projects comprise a new contract for CPB Downer JV as part of the Parramatta Light Rail project, works order for construction of a 34m modular steel bridge for the Ventia Boral Amey JV as part of RMS’ Steward Maintenance Contract, and new contracts with Cummins South Pacific, Coogee Chemicals Pty Limited in Kwinana WA, Western Region Water Corporation in Victoria and Glen Innes Council.

  The Company is on track to deliver on its previously stated FY20 earning guidance (revenue guidance range being $66 Mn to $70 Mn and EBIT margin forecast of 1.8% - 2.3%). SND is likely to release FY20 results on 26 August 2020.

  SND last traded at $ 0.590 on 13 August 2020.

• Aug 13, 2020 | 03:33 PM | AEST

  Horizon Minerals’ $16.1 Million Capital Raising for Accelerating Exploration and Milling Plans

  Australian gold explorer, Horizon Minerals Limited (ASX: HRZ) has received binding commitments for a placement of 115 million fully paid ordinary shares in the Company at $0.14 per share for raising $16.1 million before costs of the offer. 

  The Placement received overwhelming support from both new and existing Australian as well as international institutional and sophisticated investors and was heavily oversubscribed. The Board elected to increase the Placement size to offer balance sheet flexibility for undertaking a large-scale drilling program, for pursuing further regional consolidation and for providing general working capital.

  Hartleys Limited and Bell Potter Securities Limited acted as Joint Lead Managers to the issue with New York-based Jett Capital Advisors LLC acting as the US & Europe Placement Agent.