Live ASX News Today
A renowned equity market research, investor relations and media house firm, Kalkine Media presents trending and live news about listed companies belonging to diverse sectors, besides offering market commentaries.
Our prominent Live News section keeps the loyal reader base well acquainted with live and breaking stock market news, trending economic insights, and macro-affairs that impact the share market every day. Besides, there is a focus on the famous 3Cs of the market- commodities, currency, and cryptocurrency.
Is Evergrande bond default anxiety over?
Why is Ramelius (ASX:RMS) in news today?
Image source: © Bendicks | Megapixl.com
The ASX-listed gold mining and exploration company Ramelius Resources Limited (ASX:RMS) has shared its quarterly activities report for the quarter ended on 30 September 2021.
- RMS has reported quarterly group gold production of 65,686 ounces at an AISC of A$1,445/oz.
- The company’s net cash & gold increased to AU$39.9 million across the quarter.
- RMS’s quarterly gold sales were 55,075 ounces and generated total revenue of AU$127.6 million from an average gold price of AU$2,317/oz.
- The company’s cash & gold in hand increased to AU$273.9 million.
- RMS has further shared that after the end of the quarter, the company made a recommended off-market takeover offer for Apollo Consolidated Limited (ASX:AOP).
Meanwhile, on the ASX, the RMS stock has closed, trading a tad bit higher at AU$1.545 per share today.
Novavax vaccine faces manufacturing issues
Image Source: © Eamesbot | Megapixl.com
Australia has ordered 51 million doses from the American drug maker for the Novavax vaccine. The vaccine was supposed to reach Aussies in, middle of 2021; however, manufacturing issues have caused further delay.
This had to play a significant role in the national immunity booster program.
Novavax is different from other available vaccines in Australia currently. It relies on a spike protein being produced in a laboratory. As a result, it requires more ingredients which is the real challenge. Other things like purity, especially when manufacturing many doses, also are creating a problem.
Magnis (ASX:MNS) wins Aquifer Permit approval for Lithium-ion battery plant
Image source: © Liouthe | Megapixl.com
The ASX-listed graphite and battery development company Magnis Energy Technologies Limited (ASX:MNS) announced that iM3NY has received approval for the Aquifer Permit. The last approval required for near-term production is at the iM3NY Battery Plant of Endicott, New York. MNS has shared that it is the major shareholder of the project.
Magnis has also shared that the Village officially approved the Aquifer Permit of Endicott. The approval of the Aquifer Permit, along with the recently granted Air Permit and The Environmental Justice Plan, are all the permits essential for iM3NY for near term production.
Meanwhile, on the ASX, the MNS stock has closed, trading 2.66% higher at AU$0.385 per share today.
Why is Wesfarmers (ASX:WES) stock trending today?
Image Source: © Mohammedsoliman4 | Megapixl.com
ASX-listed diversified company engaged in various business operations, such as home improvement and outdoor living Wesfarmers Limited (ASX:WES) announced the results of the 2021 Annual General meeting on Friday. The shares of the company today rose by over 3% to trade at AU$57.310 per share on ASX. On the COVID-19 pandemic and subsequent lockdowns across Australia, the company managed to come through the year with an increased profit result and a strong balance sheet.
WES stated that the Group’s net profit from continuing operations rose 16.2% to AU$2.4 billion. Wesfarmers’ ordinary dividend increased 17% to AU$1.78. The company informed that Wesfarmers’ strong balance sheet has allowed it to propose a return of capital of $2.00 per share to shareholders.
Wesfarmers has made an all-cash proposal to acquire Australian Pharmaceutical Industries (ASX:API) for AU$1.55 per share. It is believed that Wesfarmers’ offer will deliver an attractive premium and cash return for API investors and benefit API’s community pharmacy partners.
Codrus (ASX:CDR) reports strong cash position in Sept 2021 quarter
The ASX-listed mining and exploration company Codrus Minerals Limited (ASX:CDR) reported on activities at its exploration projects during September 2021 quarter.
- CDR has completed drill planning for the Red Gate Gold Project, with a 2,500m RC program currently imminent.
- Codrus has also completed its maiden diamond drilling program at Silver Swan South.
- The company has completed the trenching program planning at the Middle Creek Project.
- CDR has executed contracts for IP surveying at the Bull Run Gold Project in Oregon, USA.
- The company has reported a strong cash position of AU$6.5 million.
Meanwhile, on the ASX, the CDR stock closed at 6.667% lower at AU$0.140 per share today.
BrainChip (ASX:BRN) wins US patent for spontaneous machine learning
The ASX-listed software service company BrainChip Holdings Ltd (ASX:BRN) announced that the US Patents and Trademarks Office has granted a US patent for spontaneous machine learning and feature extraction.
Key features of the patent:
- Embodiments of the present invention provide an artificial neural network system for improved machine learning, feature pattern extraction and output labelling.
- The first spiking neural network is configured to spontaneously learn complex, temporally overlapping features in an input pattern stream.
- The second spiking neural network is connected to the first spiking neural network through dynamic synapses. It is trained to interpret and label the output data of the first spiking neural network.
Meanwhile, on the ASX, the BRN stock has closed trading, 3.158% lower at AU$0.460 per share today.
Flight Centre (ASX:FLT) prices AU$400 million convertible notes due in 2028
The ASX-listed travel company Flight Centre Travel Group Limited (ASX:FLT) announced that it has successfully priced its offering of AU$400 million senior unsecured convertible notes due 2028.
The company has shared that the notes will have a coupon of 1.625% per annum, paid on a semi-annual basis. Upon conversion, the notes will be physically settled by issuing new fully paid ordinary shares in FLT, with an initial conversion price of AU$27.30 per share. FLT has mentioned that the notes will be matured on 1 November 2028.
FLT has expected to raise approximately AU$393 million from the placement after deducting commissions, professional fees, and other administrative expenses. FLT would use the raised fund to repay the Bank of England COVID-19 Corporate Financing Facility on maturity in March 2022 and fund future growth opportunities.
Meanwhile, on the ASX, the FLT stock closed a tad bit lower at AU$20.290 per share today.
Strike’s (ASX:STX) West Erregulla drilling paves way for STX initial cashflows
Image Source: © Seesea | Megapixl.com
On Friday, ASX-listed Australia-based energy and fertiliser company Strike Energy Limited (ASX:STX) shared that the company has concluded its CY20-21 West Erregulla drilling and testing campaign and completed the pre-FEED on Project Haber. The company revealed in its Q3 quarterly report that the reserves booking is sufficient to progress towards the FID of the West Erregulla Phase 1 development, which is a positive outcome and provides a pathway to Strike’s initial cashflows. The company also informed that following the September rebalance, it has successfully entered the ASX300.
Today’s announcement revealed that Strike will drill the Walyering and South Erregulla exploration wells in the coming months, where positive outcomes have the potential to create significant value.
The company also informed that it finished the quarter with AU$52.1 million of cash in hand, AU$16 million in liquid investments, and AU$3 million of secured long lead items for the proposed Phase 1 gas plant. As noted above, during the quarter, Strike increased its economic interest in the West Erregulla gas project to ~54% via acquiring ~8% of Warrego Energy Limited. Strike is Warrego’s largest independent shareholder due to acquiring the shares and looks forward to progressing the field through to construction and first production.
Today, the stock STX closed at AU$0.175 per share on ASX.
Piedmont (ASX:PLL) ups resource at Carolina Lithium project
Here’s why the BHP (ASX:BHP) stock is trending today
BHP Lonsdale Investments Pty Ltd, a 100%-owned subsidiary of the ASX-listed mineral exploration company BHP Group Limited (ASX:BHP), and Noront Resources Ltd announced that BHP has agreed to increase its all-cash offer for Noront shares to CA$0.75 per share.
The announcement has revealed that the Noront Board has determined that the proposal from Wyloo Metals Pty Ltd. for CA$0.70 per share, considering the superior C$0.75 per share cash purchase price in the amended offer. As a result, it has stopped being the superior proposal and recommended the Noront shareholders tender their shares to the BHP Offer.
BHP has shared that its offer will be open until 11:59 PM Toronto time on 9 November 2021.
Meanwhile, on the ASX, the BHP stock last traded 2.16% lower at AU$37.65 per share.
Insurance Australia Group posts loss of AU$427M in FY21
Cardno’s (ASX:CDD) stock is trading stronger on ASX today. Here’s why
AVZ Minerals (ASX:AVZ) tumbles despite progress at Manono project
AVZ Minerals (ASX:AVZ) tumbles despite progress at Manono project
Evolution (ASX:EVN) delivers strong financials in September 2021 quarter
RBA offers to purchase AU$1 billion April 2024 bonds
Image source: © Eyeofpaul | Megapixl.com
The Reserve Bank of Australia has proposed to buy AU$1 billion on three-year government bonds on its regular market operations to control its recent rise in yields above its 0.10% target.
This move was expected to have been followed by a rout in the global market and increased market expectations. As a result, the Central bank will well-increase its cash rate before 2024.
The Central Bank informed that its last auction under its yield curve control took place on 26 February 2021, when it purchased AU$3 billion of the April 2023- April 2024 bond lines. Additionally, it has been revealed that the yields on April 2024 bonds have eased to touch 0.14% from 0.17%.
Qantas (ASX:QAN) plans to restart more international flights
Image Source: © Boarding1now | Megapixl.com
Australia’s largest airline Qantas (ASX:QAN) announced on 22 October 2021 that Qantas and Jetstar will bring forward the restart of more international flights to popular destinations from Sydney and operate regular flights to Indian National Capital Delhi. This will be the first commercial flights for Qantas between Australia and India in almost a decade.
The announcement also revealed that Qantas and Jetstar are preparing to ramp up capacity between Melbourne and Sydney as quarantine-free travel is set to resume between Australia’s two largest cities.
The national carrier has stated that it will also bring back two of its Airbus A380 aircraft earlier than planned, and it is in discussions with Boeing about accelerating the delivery of three brand new 787 Dreamliners, which have been in storage for most of the pandemic.
Qantas plans to launch a new route from Sydney to Delhi on 6 December 2021 with three return flights per week with its A330 aircraft, building to daily flights by the end of the year. However, the final decision is subject to discussions with Indian authorities.
Today, the stock QAN was spotted trading at AU$5.730 per share on ASX at 11:35 AM AEDT.
Cashrewards (ASX:CRW) is trading 14% up today. Here’s why
Image Source: © Utah778 | Megapixl.com
Cashrewards Limited (ASX:CRW) received a takeover bid from Australia and New Zealand Banking Group Limited's (ASX:ANZ) venture partner; 1835i Group Pty Ltd. ANZ partner has agreed on an off-market takeover bid for entire shares in CRW.
1835i Group has finalized a cash consideration of AU$1.135 per share, a premium of 19.5% to the last closing price of AU$0.95 and a 30.2% on a 30-day volume-weighted average price (VWAP) of AU$0.87. 1835i currently holds 14,975,285 shares in Cashrewards representing 19.0% of the shares on issue.
CRW shareholders have been recommended to accept the offer without a superior proposal by the company's Independent Board Committee (IBC). Major shareholders, Mr Andrew Clarke, Alium Capital, and M&S Skyleisure Pty Ltd, holding 39.4% interest, have confirmed a non-binding intention to accept the offer.
CRW will lodge the bidder's statement with ASX and ASIC shortly and shall issue its target statement after that.
Post announcement on ASX, CRW shares have gone up over 14%, trading at AU$1.090 per share as of 11:18 AM AEDT.
Orocobre (ASX:ORE) reports hike in lithium output in September quarter
Image Source: © Suryasnair4288 | Megapixl.com
Lithium miner Orocobre Limited (ASX:ORE) shared its s September Quarterly Activities Report on ASX today.
ORE has reported a record 67,931 dry metric tonnes of lithium spodumene concentrate production from its Mt Cattlin operations in the September quarter of 2021. From Mt Cattlin, it shipped 89,640 tonnes of lithium over the period, at an average selling price of US$779 a tonne for revenue of US$69.8 million.
ORE highlighted in its ASX announcement that contracted average pricing for the December quarter is almost double that of September. For lithium carbonate from its Olaroz mines in Argentina, ORE declared that prices are up 200% over the last year, and it has also revised the production guidance upwards.
ORE also shared updates on its other projects. Construction is almost completed at its Naraha Plant, with pre-commissioning work underway. Sal de Vida is also advancing to construction completion. Feasibility study works at James Bay are in the final stages with results and a maiden reserve scheduled release in the December quarter. ORE has also completed the merger with Galaxy Resources Limited in the September quarter.
However, on ASX, ORE shares have fallen slightly and are trading at AU$9.010 per share as of 10:51 AM AEDT.
Aurizon Holdings (ASX:AZJ) to acquire One Rail Australia (ORA)
Image Source: © Transversospinales| Megapixl.com
ASX-listed Australia’s leading rail freight operator Aurizon Holdings Ltd (ASX:AZJ) announced on Friday that it has signed an agreement with Macquarie Asset Management, on behalf of its managed funds and client, to acquire One Rail Australia (ORA) for AU$2.35 billion.
ORA consists of bulk rail haulage and general freight assets in South Australia (SA) and the Northern Territory (NT); the 2,200km Tarcoola-to-Darwin railway line; and haulage business in New South Wales (NSW) and Queensland (Qld).
According to today’s announcement, Aurizon will divest ORA’s NSW and Qld business via a demerger or a trade sale, whichever creates more value for Aurizon shareholders. The company stated that the ECR divestment commitment is to address potential competition concerns from the Australian Competition and Consumer Commission (ACCC) arising from the transaction. The company has stated that a final decision on the form of divestment will be based on delivering the best value outcome for Aurizon shareholders. The purchase is subject to various customary conditions precedent and regulatory and consent conditions, including clearance from ACCC.
The company informed that the acquisition is fully funded from Aurizon’s existing debt facilities and underwritten by newly committed debt facilities. With an aggregate estimated Earnings Before Interest Tax, Depreciation and Amortisation (EBITDA) of AU$220 million for CY2021, ORA is considered a strong, profitable business.
Today the stock AZJ was spotted trading over 5% low at AU$3.690 per share on ASX at 11:01 AM AEDT.