Live ASX News Today
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22nd Apr 07:54 PM AEST
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22nd Apr 03:51 PM AEST
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22nd Apr 03:25 PM AEST
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22nd Apr 02:16 PM AEST
Suvo Strategic Minerals (ASX:SUV) gains on positive results from Pittong mine
The shares of Suvo Strategic Minerals (ASX:SUV) climbed as much as 4.9% to A$0.215 per share as the mining firm announced that during first quarter Pittong kaolin operations in Victoria produced 5,920 tonnes of refined kaolin products.
It stated that sales of kaolin products for the quarter totalled 6,458 tonnes generating an EBITDA of A$723,000.
SUV shared these results signify a return of demand for refined kaolin products manufactured at Pittong to pre-COVID-19 levels.
The stock has risen 60.8% this year so far, as of the last close and was trading at A$0.205 per share at 1:45 PM AEST.
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22nd Apr 02:08 PM AEST
Splitit (ASX:SPT) jumps on launch of new payment gateway
The share price of Splitit Payments Ltd (ASX:SPT) rose as much as 3.1% to A$0.825 per share as the BNPL firm announced launch of Splitit Plus, a new payment gateway designed exclusively for instalment payments.
Splitit Plus is now available to merchants across the U.S., with a wider global rollout likely to start in H2 2021.
SPT expects Splitit Plus to result in incremental revenue for the Company and also drive an acceleration in merchant acquisition.
Meanwhile, the stock was spotted trading at A$0.800 per share at 1:30 PM AEST.
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22nd Apr 01:55 PM AEST
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22nd Apr 01:49 PM AEST
MGC Pharma (ASX:MXC) gains on Israeli medical research company buyout
The share price of MGC Pharmaceuticals Ltd (ASX:MXC) gained as much as 6.7% to A$0.064 per share.
The medical cannabis firm announced the acquisition of Israeli clinical and medical research company, MediCaNL.
It shared that MediCaNL will design, manage and run all clinical trials for MGC Pharma following norms set by leading worldwide drug regulators.
The deal terms include consideration of A$6 million in MXC shares, 30% on settlement and 70% in instalments as deferred consideration.
The stock has more than doubled in value so far this year, as of the last close and was trading up 5% at A$0.063 per share at 12:57 PM AEST.
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22nd Apr 01:38 PM AEST
Triangle Energy (ASX:TEG) eyes best day in nearly seven months on deal with BP Refinery
The share price of the stock Triangle Energy (Global) Limited (ASX:TEG) jumped as much as 28% to A$0.032 in its best intraday session since 23 September 2020.
The Australian oil and gas explorer entered into a binding agreement with Kwinana-based BP Refinery Pty Ltd concerning the storage of Company's crude oil produced at the its Cliff Head Asset.
The Company has also agreed terms with BP Singapore Pte Ltd in a nonbinding term sheet for a related offtake agreement for its product.
More than 5.5 million TEG shares were traded as compared to the 30-day average of about 2.5 million shares.
Meanwhile, TEG has risen 4.2% so far this year, as of the last close and was found trading at A$0.028 per share, up 11.999% at 1:03 PM AEST.
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22nd Apr 01:36 PM AEST
Maggie Beer Holdings (ASX:MBH) effectively achieves retail entitlement offer
The shares of Maggie Beer Holdings Limited (ASX:MBH) hovered in green zone as the Company announced successful completion of the Retail Entitlement Offer to raise approximately $9.6 million.
Nearly 70% of the offer was taken up by existing eligible retail shareholders.
Together with the Placement and the institutional component of the Entitlement Offer, total proceeds from the capital raise under the Offer are around A$30 million.
The proceeds from the offer are to be used primarily to purchase 100% of the shares in Hampers & Gifts Australia Pty Ltd (HGA).
Meanwhile, the stock was trading 2.898% higher, at A$0.355 per share at 11:27 AM AEST.
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22nd Apr 01:27 PM AEST
Australian gold nears three-month high as US dollar and Treasury yields ease
The Australian gold sub-index jumped as much as 2.7%, set to hit its highest since 27 January 2021.
Aussie gold stocks track bullion prices that rose to a near eight-week high on Thursday, as weaker U.S. dollar and Treasury yields boosted safe haven asset's appeal.
AXGD is on track to snap its two-day losing streak.
Index giant Newcrest Mining Limited (ASX:NCM) climbed as much as 2.1%; Northern Star Resources Limited (ASX:NST) and Chalice Mining Limited (ASX:CHN) soared as much as 5.8% and 6.7% respectively.
Though, Australian gold stocks are down 2.6% this year so far, as of the last close.
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22nd Apr 01:09 PM AEST
Jupitar Mines (ASX:JMS) posts gains as its declares final FY2021 dividend
Jupitar Mines Limited (ASX:JMS) marked remarkable gains on the ASX as the Company announced its final dividend of A$0.02 (unfranked, total FY2021 payout ratio of 94%) for the financial year ended 28 February 2021.
The dividend record date is 7 May 2021 and it will be paid on 21 May 2021.
The Company also welcomed the announcement by Ntsimbintle Holdings Pty Ltd that it has raised its stake in Jupitar to 19.9%.
Meanwhile, the stock was trading at A$0.322 per share, up 2.380% at 12:48 PM AEST.
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22nd Apr 12:54 PM AEST
Brambles’ (ASX:BXB) sales revenue up 6% in FY21 third quarter, shares surge
The share price of Brambles Limited (ASX:BXB) traded in green today as the Company reported sales revenue from continuing operations of US$3,794.1 million for the first nine months of the financial year ending 30 June 2021, representing a rise of 8% at actual FX rates on the prior corresponding period.
At constant currency, growth of 6% include an approximate 1 percentage point contribution from customer and retailer inventory stocking, primarily in the US and Europe.
Volume growth was 3% as raised demand in the global pallets and Australian RPCs businesses offset declines in Automotive sector.
Meanwhile, the stock BXB was trading at A$10.550 per share, up 1.344%, with a market capitalisation of A$15.12 billion at 12:33 PM AEST.
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22nd Apr 12:53 PM AEST
Incannex (ASX:IHL) reports positive pre-IND meeting with US FDA, shares watchful
Incannex Healthcare Limited (ASX:IHL) hit the headlines on Thursday as it shared it will be expanding its development programme to assess the potential for IHL-675A to become a multi-use pharmaceutical drug for treating the patients with lung inflammation, irritable bowel disease and rheumatoid arthritis.
In the positive pre-IND meeting with the US FDA, FDA approved an accelerated and less-costly route to registration and marketing than the traditional pathway.
Now, IHL will combine its ARDS/SAARDS and pulmonary neutrophilia development activities into a common project and IND; expanding the programme’s scope and economic potential.
Meanwhile, the stock IHL was spotted hovering in red zone, down 5.173% at A$0.275 per share at 12:18 PM AEST.
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22nd Apr 12:53 PM AEST
Redbubble (ASX:RBL) tumbles as quarterly earnings miss estimates
The shares of online marketplace Redbubble Limited (ASX:RBL) tumbled up to 20.690% to A$4.370 at 12:06 PM AEST.
The Company informed its third-quarter operating EBITDA was A$2.2 million vs loss of A$6.3 million last year.
The operating EBITDA also missed RBC Capital estimate of A$8.1 million.
Q3 marketplace revenue A$103.4 million, up 54% from last year, but misses RBC Capital estimate of A$109.3 million.
RBL's 3Q21 trading update saw misses in key line driven by a stronger Australian Dollar, which gained ~17% from last year against the U.S. dollar, as per RBC Capital.
RBL, so far, is the biggest percentage loser in the ASX All Ordinaries index AORD.
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22nd Apr 12:21 PM AEST
Australian energy stocks fall to five-month low as oil prices drop
Australian energy stocks AXEJ declined as much as 1.9%, hit lowest since 23 November 2020.
The Oil prices on Wednesday fell for a second day to their lowest in a week on a surprise build in U.S. crude inventories and concerns over a surge in COVID-19 cases in India.
The subindex has fallen for a fifth straight session.
Giants Woodside Petroleum (ASX:WPL) and Santos (ASX:STO) lost up to 2.7% and 1.9%, respectively.
The subindex is down 1.3% as of now this year, as of the last close.
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22nd Apr 12:13 PM AEST
Jefferies lauds IGO Limited’s (ASX:IGO) exposure to battery minerals, initiates with ‘buy’
Financial research firm Jefferies initiated coverage on IGO Limited (ASX:IGO) with a ‘buy’ rating. As per refinitiv, Jefferies raised the price target to A$8.20 per share.
Broker's PT represents ~15% upside to stock's last closing price.
Jefferies explained that they are attracted to IGO for its positioning as a globally relevant, pure-play battery minerals producer and developer and said the exposure to critical clean energy commodities such as nickel, copper, cobalt and lithium is set to drive earnings for the Company.
Jefferies stated that in the coming 18 months IGO will look to improve the long-term certainty of its nickel earnings and also eye M&A activity.
IGO recently exited its gold operations to focus on lithium and nickel ventures.
The shares climbed ~4% to A$7.220 per share.
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22nd Apr 12:13 PM AEST
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22nd Apr 12:05 PM AEST
Australian Pharmaceutical (ASX:API) falls considerably on feeble earnings
The share price of Australian Pharmaceutical Industries (ASX:API) declined as much as 5.5% to A$1.285, posting its biggest intraday percentage drop since 18 December 2020.
The Company’s half-yearly underlying net profit after tax down 30% to A$17.7 million.
The Revenue fell 2.6% to A$2.0 billion, hurt by reduced footfall due to coronavirus restrictions.
The Company declared interim dividend of 1.5 cents per share and stated it is confident about growth potential of its two retail businesses.
Meanwhile, the stock is up 10.6% this year so far, as of the last close and is currently trading at A$1.332 per share, down 2.023% at 11:33 AM AEST.
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22nd Apr 12:03 PM AEST
Vitalharvest (ASX:VTH) hits fresh peak, climbs above sweetened buyout offer
Vitalharvest Freehold Trust (ASX:VTH) rose as much as 2.1% to A$1.220, to hit a record peak and climb above the latest buyout offer price.
VTH received a sweetened takeover bid from Macquarie Agricultural Funds Management (MAFM) to acquire all units in co at A$1.19 per share.
The latest offer comes after rival bidder Roc Private Equity raised its offer price to A$1.18 per share last week.
VTH stated assessing whether MAFM's revised proposal is likely to provide an equivalent or superior outcome for unitholders than the offer received from Roc.
Meanwhile, the stock was spotted trading at A$1.215 per share, up 1.673% at 10:15 AM AEST.
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22nd Apr 11:38 AM AEST
Palladium surges to record highs on supply concerns and precious metals push
Palladium surged to record high levels on ongoing supply disruptions and the precious metals recovery.
Palladium Spot Multi-Contributor Prices in US$ an oz Source: Eikon Refinitiv
- The metal surged to the record high levels of US$2,891.2 an ounce and trades at US$2,877 an ounce at 10:54 AM AEST on 22 April 2021.
- The metal was strengthened by the recovery in precious metals, especially gold which gained more than 1 per cent on Wednesday.
- The metal is widely used in catalytic converters that are critical to the modern automobile to ensure cleaner exhaust fumes. Palladium demand has been strong in recent months for both automotive and industrial applications.
- In February, Nornickel, the largest producer of Palladium in the world, had partly halted operations at two of its mine.
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22nd Apr 11:30 AM AEST
Eagle Mountain Mining (ASX:EM2) accelerates drilling at Oracle Ridge, share surge
Eagle Mountain Mining Limited (ASX:EM2) shared the proposed acceleration of exploration drilling at its Oracle Ridge Project in Arizona. The Company has been drilling since September 2020.
The planned raise in diamond drilling includes a transition to a continuous drilling schedule to maximise productivity.
The decision to accelerate diamond drilling at Oracle Ridge is supported by multiple strong assay and drilling results and an increasing pipeline of high priority targets within a few kms of the existing underground mine portals.
Meanwhile, the stock was trading 7.614% higher at A$1.060 per share at 10:54 AM AEST.
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22nd Apr 11:29 AM AEST
Hyperion (ASX:HYM) signs MOU to supply Monazite to Energy Fuels
Marking a step further in the development of a fully integrated US Rare Earth Element Supply Chain, Energy Fuels and Hyperion Metals (ASX:HYM) have signed a memorandum of understanding to evaluate the potential supply of monazite sands from the Titan Project in Tennessee to Energy Fuels’ White Mesa Mill in Utah for the production of rare earth products.
Monazite is a valuable rare earth-bearing mineral, planned to be produced at the Titan Project as a component of its heavy mineral sand concentrate product.
Hyperion’s Titan Project covers a large area of heavy mineral sands properties in Tennessee prospective for titanium, zircon, Monazite and other valuable minerals such as high-grade silica sand and other refractory minerals.
Meanwhile, the stock HYM was spotted trading at A$0.950 per share, up 15.853% at 10:51 AM AEST.
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22nd Apr 11:27 AM AEST
Oil slides on rising COVID-19 cases in India
Crude Oil continued to slide down for a second day on rising infection rates in India and the unexpectedly rising US crude oil stocks. WTI and Brent crude oil benchmark futures fell by over 2% on Wednesday.
Source: © Asterixvs | Megapixl.com
- The price of the futures contract of Brent crude oil benchmark expiring on 30 April traded flat at US$65.05 a barrel on 22 April 2021 at 9:53 AM AEST, while WTI crude oil futures 1-month futures traded 0.51 per cent down at US$64.49 a barrel.
- India continued to register new record-breaking infections raising critical questions on oil demand in India. New lockdown restrictions have already been imposed in part of the country.
- As per the latest media reports, numerous attacks on Iranian soil were made on the heavily secured locations. The Iranian intelligence agencies have blamed Israel for the attacks. These attacks complex the geopolitical condition in the middle east region and may pose a risk to the crude oil supply if such incidents continue in the near term.
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22nd Apr 11:15 AM AEST
Why is Oilex (ASX:OEX) trading 20% higher today?
The share price of Oilex Limited (ASX:OEX) gained as much as 20% to reach A$0.006 per share at 10:27 AM AEST as the Company shared it has arranged the funding required to complete the acquisition of GSPC’s 55% participating interest in the Cambay PSC.
Post this transaction, Oilex will hold a 100% participation interest in Cambay and will restart field work including a work programme consisting of the drilling of two vertical wells to appraise the Eocene gas accumulation.
For the sake of satisfying the acquisition consideration, the Company has arranged an equity capital raising, with existing shareholders and clients of Novum Securities Limited, of A$4.3 million via issue of 1,008,403,361 new ordinary shares at A$0.425 per share.
Meanwhile, funds raised will be applied to the acquisition cost of GSPC’s PI, and other developmental programmes.
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22nd Apr 10:52 AM AEST
Citi downgrades Pilbara Minerals (ASX:PLS), says stock trading above underlying valuation
Financial research firm Citi has downgraded Pilbara Minerals Limited (ASX:PLS) to ‘sell’ from ‘neutral’.
The lithium mining firm on Wednesday reported record spodumene concentrate production in Q3 and forecast higher shipments for the current quarter.
However, company's quarterly lithium concentrate shipments of 71 kt missed Citi estimate of 83 kt.
Broker also says the stock is now trading ahead of underlying valuation.
The current share price is implying a long-term spodumene price of $740/t vs our long-term assumption of $550/t as per Citi.
PLS, along with its peers, has seen solid gains driven by soaring prices of lithium, which is used in electric vehicle batteries.
Citi also lowers FY21 EBITDA estimates marginally by 4% to A$27 million on higher unit costs.
The brokerage firm retains the ‘high risk’ tag on stock, reflecting concerns around underlying lithium price volatility and the Pilgangoora project's funding.
Meanwhile, the stock was spotted trading 0.801% down at A$1.240 per share at 10:33 AM AEST.
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22nd Apr 10:28 AM AEST
Pointerra (ASX:3DP) registers record quarterly cash receipts in March quarter
Pointerra Limited (ASX:3DP) shared an overview of the March 2021 quarter activities and the related cash flows and cash position.
The Company recorded quarterly cash receipts from customers A$1.37 million up from A$0.64 million in Q2 FY21.
Pointerra also received A$0.39 million from the exercise of unlisted options during the quarter.
During the quarter, Pointerra continued to participate in face to face and online demonstrations to audiences across a range of defense and intelligence sector agencies.
Pointerra remained actively engaged in more than 25 SBIR, STTR and direct contract opportunities across Army, Air Force, Navy and other military and intelligence sector agencies in the US.
Meanwhile, the stock was spotted trading up 12.499% at A$0.585 per share at 10:24 AM AEST.
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22nd Apr 10:28 AM AEST
AGL Energy (ASX:AGL) makes changes to the leadership team
The Managing Director & CEO of AGL Energy Limited (ASX:AGL), Brett Redman resigned after almost one and a half decade with the company, including the last two-and-a-half years as CEO.
His resignation as a Director is effective immediately but shall remain available to AGL until the expiry of his notice period on 21 October 2021.
Moreover, the Company has appointed Graeme Hunt, present Chairman of AGL, as the Interim Managing Director & CEO effective immediately. For this role, Graeme Hunt shall step down from the position of Chairman and shall lead the Company throughout the process of planning for the structural separation.
The AGL stock was noted at AUD8.760 at 10:25 AM AEST.
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22nd Apr 10:10 AM AEST
Nickel Mines (ASX:NIC) acquires a further 20% interest in Angel Nickel
Nickel Mines Limited (ASX:NIC) shared that it has completed the acquisition of a further 20% interest in Angel Capital Private Limited, the Singaporean holding company.
The Company now holds a 50% interest in the Angel Nickel project comprising four next generation RKEF lines and a 380MW power station currently under construction within the Indonesia Weda Bay Industrial Park.
Meanwhile, the stock NIC was trading at A$1.250 per share.
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22nd Apr 10:06 AM AEST
Australian Potash (ASX:APC) awards Production Bore-field Drilling Contract
In the latest development, Australian Potash Limited (ASX:APC) has awarded the bore-field drilling contract for the development of the Lake Wells Sulphate of Potash Project (LSOP) to Pentium Hydro Pty Ltd.
APC recently concluded a FEED program into the development of the LSOP that helped in discovering an enhanced bore-field design involving 79 brine bores. Subsequent to the release of the FEED, APC is concentrating on maintaining the momentum towards development and believes that it is crucial to secure drill rigs in the present climate for attaining mid-2023 targeted production start date.
The APC stock traded at AUD0.175 at 10:09 AM AEST.
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22nd Apr 09:57 AM AEST
AssetOwl (ASX:AO1) to raise A$1.5 million via placement
Enterprise property management platform provider AssetOwl Limited (ASX:AO1) announced an equity capital raising of A$1.5 million via a two-tranche placement to investors.
As per the announcement, the placement has been strongly oversubscribes and the Company will be increasing the amount sought through the placement from A$1.0 million to A$1.5 million.
The Company is to place 38,000,000 ordinary shares to new and existing investors at an issue price of A$0.005 per share.
The funds will be used to aid the expansion of the Company to Eastern States.
Meanwhile, the stock’s last traded price was A$0.007 per share.
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22nd Apr 09:43 AM AEST
Redbubble Limited (ASX:RBL) reports strong growth across geographies and product categories
Redbubble Limited (ASX:RBL) has reported the performance of the Company for the third quarter (3Q) and nine months (YTD) ended 31 March 2021. Key highlights from RBL’s YTD FY2021 financial performance include the following:
- Marketplace Revenue increased by 85% to AUD456 million.
- 100% growth in gross profit of AUD184 million.
- Operating cash inflow of AUD54 million versus AUD6 million in FY20.
- EBITDA recorded at AUD51 million versus a loss of AUD2 million in FY20.
RBL’s business has shown growth across all geographies indicates the wide and international appeal of the offering.
In the coming times, the Company anticipates an outstanding opportunity for continuous growth and scaling of the business.
The RBL stock last closed at AUD5.510 on 21 April 2021.
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22nd Apr 09:43 AM AEST
Kingston Resources (ASX:KSN) continue to deliver across project portfolio amid challenging times
Kingston Resources (ASX:KSN) has continued to deliver amid a challenging period for PNG due to COVID-19 and has experienced a substantial ramp-up in activity throughout the business.
During the quarter ended 31 March 2021, KSN received favourable gold and silver assay results from Resource in-fill drilling at Kulumalia.
KSN has initiated work on its Definitive Feasibility Study and has completed the first phase of metallurgical testing with an ongoing second phase.
KSN continued a tenement wide study and engaged experts to consolidate and rank generated targets at the Livingstone Gold Project.
The Company also appointed Geoff Callister to assist the Company’s permit approvals and social responsibility programs at the Misima Gold Project.
The KSN stock closed at AUD0.220 on 22 April 2021.
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22nd Apr 08:23 AM AEST