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3^rd May 01:43 AM PDT

Australian childcare services providers jump as government plans to boost sector subsidies

Shares of Australian childcare service providers climbed on Monday as the government announced measures to increase subsidies for the sector.

Australia outlined measures to increase childcare subsidies on Sunday, in a pre-budget announcement that pledges A$1.7 billion to boost female participation in the workplace.

RBC Capital Markets says announced childcare policies will be a tailwind for the sector and appear to benefit a large number of households. It added that measures, if approved and implemented from FY23, will potentially drive occupancy benefits to the sector.

G8 Education Limited (ASX:GEM) jumped 7% to A$1.07 in best intraday session since 7 December 2020.

Mayfield Childcare Limited (ASX:MFD) notched best session in nearly a month, climbd as much as ~8% to A$1.09 per share.

3^rd May 01:41 AM PDT

Orion Minerals (ASX:ORN) gains on copper prospects at Brownfields project

Shares of Orion Minerals Limited (ASX:ORN) gained as much as 8.3% to A$0.039 per share on Monday.

The base metals explorer stated that scoping study for copper mining operations at Brownfields Okiep project in South Africa has confirmed potential for early cash flow and evidence of copper production.

ORN informed the study was completed as part of Orion's due diligence programme under its Option Agreement to acquire the Okiep Project.

The Company revealed next steps in the study include advance mine feasibility studies to prepare for project construction at the earliest opportunity.

Meanwhile, the stock ended today’s session at A$0.037 per share, up 2.777%.

3^rd May 01:41 AM PDT

Imricor (ASX:IMC) posts gains on deal with German Hospital

Medical device making firm Imricor Medical Systems, INC. (ASX:IMC) rose as much as 2.9% to $2.100 per share on Monday.

Helios Hospital Berlin-Buch, Germany, signed a purchase agreement with Imricor to establish an iCMR lab, used in cardiac diagnostic and interventional procedures, to perform ablations with Imricor's products.

About 126,040 shares got traded as compared to the 30-day average of 87,449 shares.

The stock is down 9.7% this year as of the last close but closed 0.490% up at A$2.050 per share on Monday.

3^rd May 01:40 AM PDT

Beach Energy (ASX:BPT) cut reserves estimate & earnings outlook; Brokerages slash price target

Brokerages cut Price Target, earnings estimate for Beach Energy Limited (ASX:BPT) after it slashed reserves estimate and earnings outlook as oil production fell at its Western Flank field in South Australia.

Financial research firm Citi cut PT to A$1.42 from A$1.88, while Morgan Stanley lowered it to A$1.45 from A$2.00, as per the refinitiv data.

Brokerage cut its FY22 EBITDA forecasts for BPT by 15%

Citi cut its FY21 earnings estimates by 23% and downgraded its annual production forecast by an average of 4.4 mmboe from FY22 to FY25.

The stock, which tumbled ~25% on Friday, closed the Monday session at A$1.275 per share.

3^rd May 01:39 AM PDT

Hexagon Energy (ASX:HXG) drops after discounted share placement

The share price of Hexagon Energy Materials Limited (ASX:HXG) fell as much as 16.7% to A$0.125 to post their biggest intraday percentage fall since 29 January 2021.

The Company said it completed a placement of shares to raise A$6.2 million at an issue price of A$0.11 per share.

The issue price was at a 26.7% discount to HXG stock's last close price of A$0.15 per share.

The Company stated that added funds from placement will be used to further develop the Pedirka Blue Hydrogen project in the Northern Territory, among other things.

3^rd May 12:13 AM PDT

Australia’s mining stocks fall as commodity prices subdued during China holiday

Australia's mining sub-index AXMM declined 1% to hit lowest since April 23 on subdued commodity prices.

The Iron ore prices plunged 3.7% on Friday, while copper hovered lower ahead of a holiday in China.

Chinese bourses will be shut from May 3-5 for the Labour Day break, while the London Metal Exchange is closed on Monday for a bank holiday.

Heavyweights BHP Group Limited (ASX:BHP) and Rio Tinto (ASX:RIO) shed ~1% each

De Grey Mining Limited (ASX:DEG) and Gold Road Resources Limited (ASX:GOR) down ~6% and ~5% respectively, lead losses on AXMM.

3^rd May 12:05 AM PDT

Denver Airport uses Eden Innovations (ASX:EDE) product for repairs

Eden Innovations Limited’s (ASX:EDE) product EdenCrete® will be used in replacing concrete panels in United Airlines and for the maintenance of Hangar Apron at Denver International Airport, the Company informed on Monday.

United Airlines has started to remove and replace a number of 26-year0old concrete panels on the apron of their maintenance hangar at Denver International airport that have deteriorated over time and cracked due to alkali silica reactivity, scaling due to chemical attack from de-icer chemicals, and that are exhibiting wear and tear from the abrasion produced by the airplane tyres.

However, the stock EDE ended lower shedding off 3.226% at A$0.030 per share.

2^nd May 11:44 PM PDT

Magmatic (ASX:MAG) receives upbeat results from gold-copper targets at Wellington North

Magmatic Resources (ASX:MAG) on Monday provided an update on its positive progress and exploration operations at its 100%-owned Wellington North Project, which is located north of Australia's largest gold producer at Cadia East and effectively surrounds Alkane's recent Boda gold-copper discovery.

89 holes for 1046m of aircore drilling were completed at the Lady Ilse, Rockleigh, and Boda South targets.

Multiple regolith anomalies with >0.1 g/t Au and >500ppm Cu have been discovered and are considered relevant for bedrock gold-copper potential.

MAG shares traded at A$0.180 at 3:56 PM AEST on 3 May 2021.

2^nd May 11:15 PM PDT

Vmoto (ASX:VMT) revenue rises by 42 % in 1Q21

Electric Scooter manufacturer Vmoto Limited (ASX:VMT) shared the results on Monday for the quarter ending on 31 March 2021 as per which, the Company has witnessed a 42% growth in sales year-on-year (YoY) to 5869 units, with 5636 units sold into foreign markets.

In 1Q21, total foreign units sold increased by 51% over 1Q20 and 48% over 1Q19.

As of 31 March 2021, the Company had a strong cash position of A$15.8 million, with no bank debt.

In the first quarter of this year, the company renewed and signed distribution agreements with foreign distributors in Ecuador, Peru, French Polynesia, Israel, Vietnam, and Georgia.

VMT reported 10,702 units of firm foreign orders, including a major B2B order from Greenmo Group, with 3,864 units remaining to be shipped in 2Q21, offering a good runway for FY2021 sales.

The share price of the stock VMT was quoted at A$0.435 per share, down 1.137% at 3:10 PM AEST.

2^nd May 10:01 PM PDT

2^nd May 09:38 PM PDT

CITGO grants Worley (ASX:WOR) a services agreement for USA refineries

Worley Limited (ASX:WOR) has been conferred maintenance, turnaround, and services agreement at its refineries in Lake Charles, Louisiana and Corpus Christi, Texas.

CITGO Refining and Chemicals Company L.P has awarded the agreement.

Key highlights:

Worley will deliver upkeep, improvement and maintaining services to the two refineries.
600 people will be employed in delivering these services.
The duration of the contract is five years.
The services will be implemented by the US Field Services unit of Worley.

Meanwhile, the stock WOR was trading at A$10.680 per share, down 1.658% at 2:09 PM AEST.

2^nd May 09:10 PM PDT

Cirralto (ASX:CRO) upgrades Spenda with MasterCard and Visa services, shares go green

Cirralto Limited (ASX:CRO) shared the profitable upgrading of its payment services with many new features and facilities that enable full utilisation of the payment aggregator services.

Right from signing the Visa Business Payment Solution Provider and MasterCard Business Payment Aggregator agreements with Fiserv, Inc, this upgrade has followed months of broad development work.

The new functionality within the Spenda payment stack is an important and fundamental milestone for the Company.

The customers, via this platform, will now be benefitting from:

The ability to perform all business payments on one connect platform that accepts all key B2B payment methods, credit card transactions, fund transfers and BPAY.
Increase payment security and validation with automatic identification of the buyer and seller as linked accounts.
Improved clarity with statement-based payments.
Better payments options.

Meanwhile, the stock was spotted trading 1.190% higher at A$0.085 per share, with a market capitalisation of A$171.68 million at 1:21 PM AEST.

2^nd May 08:30 PM PDT

ArchTis (ASX:AR9) grabs A$296k contract with Australian Department of Defence

Software solutions firm ArchTis Limited (ASX:AR9) shared on Monday it has entered a contract with the Australian Department of Defence for the expanded deployment of NC Protect.

The contract, valued at A$296,000, is a software support engagement for ArchTis for architecture and implementation services for the migration of NC Protect.

Meanwhile, riding high on the announcement, the stock of the Company, AR9 was spotted trading 5.357% higher at A$0.295 per share at 12:30 PM AEST.

2^nd May 08:24 PM PDT

Renegade Exploration (ASX:RNX) gets approval for Carpentaria JV acquisition

Renegade Exploration Limited (ASX:RNX) shared the Queensland Department of Resources has given an indicative approval to the transfer of the Sovereign Metals Limited (ASX:SVM) interest in the Carpentaria Joint Venture (CJV) to the Company’s subsidiary Renegade Exploration Pty Ltd.

Renegade’s acquisition of Sovereign’s interest in the CJV is expected to complete on 10 May 2021.

The CJV is located in north western Queensland and has five exploration permits in the portfolio.

Mt Isa Mining Limited (MIM) entered into the CJV in 2000 and has been the operator since then with several partners.

MIM has spent around A$14.5 million on JV exploration activities and has successfully identified copper and gold prospects.

Renegade has acquired a 23.03% interest in the CJV.

Meanwhile, the stock hovered in green zone, gaining 7.692% at A$0.007 per share at 10:33 AM AEST.

2^nd May 08:09 PM PDT

2^nd May 07:52 PM PDT

Aventus (ASX:AVN) declares A$660 debt refinancing

Aventus Group (ASX:AVN) announced on 3 May 2021 the successful completion of A$600 million of debt refinancing. This comprises 80% of the current A$820 million debt portfolio.

As per the ASX announcement, this refinancing has resulted in 11 existing debt tranches totalling A$660 million being consolidated into 6 tranches.

Aventus has no debt maturing until January 2025.

Meanwhile, the stock was trading 0.673% higher at A$2.990 per share at 12:24 PM AEST.

2^nd May 07:51 PM PDT

Lefroy (ASX:LEX) reports multiple intervals of altered porphyry intersected at Burns

Lefroy Exploration Limited (ASX:LEX) shared the initial results from the current diamond drilling programme evaluating the Burns copper gold prospect.

The Eastern Lefroy tenement package is enveloping the Burns. This is just a part of the 100%-owned greater Lefroy Gold Project which is situated 50kms south east of Kalgoorlie.

The Company shared broad high-grade mineralisation is hosted within a new discovered hematite-pyrite-chalcopyrite-magnetite altered porphyry. The mineralisation is open at depth.

Meanwhile, the share price of the stock LEX was quoted at A$1.020 per share, down 4.673% at 12:03 PM AEST.

2^nd May 06:37 PM PDT

China’s steel futures record week-long gain amid robust demand

Source: © Oknebulog | Megapixl.com

China’s steel futures recorded robust gains throughout the week amid increased demand for industrial products.

Steel Rebar on the Shanghai Futures Exchange traded over CNY5,300 per tonne during the last week.
The prices were lifted mainly due to lower production from steel mills, a step towards limiting greenhouse emissions followed by restrictions imposed in Tangshan.
The rising demands and supply deficit has created an imbalance in the market, disturbing the market equilibrium and lifting steel prices.
China’s crude steel output has been increased by 19 per cent compared to previous year figures on the back of robust profits. Adding to that, March exports also surged to a four-year high level amid higher demand worldwide.

2^nd May 06:36 PM PDT

Caravel Minerals (ASX:CVV) announce A$7.5 million share placement

Caravel Minerals (ASX:CVV) announced it has received commitments to raise A$7.5 million via a share placement to investors at A$0.27 per share, with 27,777,778 million new fully-paid ordinary shares to be issued.

A large institutional investor will subscribe for A$7.0 million in the Placement.

Meanwhile, the stock was trading 3.334% lower at A$0.290 per share at 11:06 AM AEST.

2^nd May 06:35 PM PDT

Crude oil tumbles amid a surge in COVID-19 cases in India

Source: © Designer491 | Megapixl.com

Crude oil prices tumble today from six-week highs of last week amid surging coronavirus cases in India.

Brent oil futures for July delivery traded at US$66.93 per barrel, up 0.41 per cent as of 03 May 2021 9:52 AM AEST, and WTI crude oil futures for June delivery traded 0.28 per cent up at US$63.73 per barrel.
The demand for crude oil across the world is diverse. The US and China are recording rising demands, whereas other nations, including India, Japan, Brazil, struggle with COVID-19 cases.
Since last week, India, the third-largest oil importer and consumer, is constantly recording nearly 0.4 million cases per day.
The crude oil imports of Japan, the other leading oil importer, fell by 25 per cent in March compared to the corresponding previous year's value.

2^nd May 06:16 PM PDT

Credit Intelligence (ASX:CI1) to acquire majority of OneStep I.T

Credit Intelligence Limited (ASX:CI1) announced on Monday it has signed off a share purchase agreement with OneStep Technology Investment Limited to provide SME BNPL services to the Hong Kong market through OneStep I.T.

OneStep group provides more than 15 types of comprehensive corporate services to its clients, including incorporation of companies, presentation of statutory corporate documents, company secretary services and others.

Under the agreement terms, CI1 will acquire 60% of the issued share capital of OneStep I.T.

Initially, Credit Intelligence will pay OneStep a A$1,000,000 cash payment and issue 15,000,000 fully paid ordinary shares at a price of A$0.04 per CI1 share.

Within the six months of completion, CI1 will pay OneStep a A$400,000 cash payment.

Meanwhile, the stock was spotted trading at A$0.026 per share, up 8.333% at 10:42 AM AEST.

2^nd May 05:55 PM PDT

Great southern Mining (ASX:GSN) gets exploration licences for Laverton Nickel Project

The share price of the stock Great Southern Mining Limited (ASX:GSN) was quoted a tad bit higher on Monday as the Company announced that all exploration licences at the Company’s 100%-owned 400kmsq East Laverton Nickel Project in Western Australia have now been granted.

This was facilitated by the successful negotiation of a heritage agreement with the Nyalpa Pirniku Traditional Owners.

The East Laverton Project is located 20km east of Laverton in Western Australia and comprises three large exploration licences that GSN applied for in 2018 that have now all been granted in 2021.

Meanwhile, the stock GSN was trading up 5.660% at A$0.056 per share at 10:33 AM AEST.

2^nd May 05:47 PM PDT

Empire Energy Group (ASX:EEG) 47% growth to its best estimate Prospective Gas Resource

For the March 2021 quarter, Empire Energy Group Limited (ASX:EEG) has reported 47% growth to its best estimate Prospective Gas Resource to 3.5 TCF as well as a maiden best estimate Contingent Gas Resource of 41 BCF within EP187.

The Company also raised AUD30 million during the quarter through a two-tranche placement to finance the acquisition related to Pangaea tenements and further work program activities.

EEG remains suitably funded with a current cash balance of AUD22.4 million at the end of the quarter.

The EEG stock was noted at AUD0.325, up by 1.562% at 10:38 AM AEST.

2^nd May 05:47 PM PDT

Metalicity (ASX:MCT) extends mineralisation at Leipold, shares watchful

Metalicity Limited (ASX:MCT) announced assay results for the Leipold Prospect at the Kookynie Gold Project in the Eastern Goldfields, Western Australia, approximately 60 kms south southwest of Leonara.

The confirmation of down dip extensions of very high-grade lodes intercepted by LPRC0107 where an interval of 2 metres at 59.9 g/t Au from 147 metres that also features a spectacular result of 118.4 g/t Au.

In January 2021, the Company commissioned an external mineral resource consultant to start the process of re-estimating current pre-20212 mineral resources at Leipold, McTavish and Champion.

The Company’s aim is now to complete drilling and produce this estimate.

Meanwhile, the Company’s stock MCT was spotted trading at A$0.014 per share, up 7.692% at 10:18 AM AEST.

2^nd May 05:05 PM PDT

Digital Wine Ventures (ASX:DW8) partners with Earlypay to launch LIQUIDITY

Digital Wine Ventures Limited (ASX:DW8) announced on Monday that WINEDEPOT has entered into an agreement with Earlypay to launch LIQUIDITY, a simplified payment solution for users of its B2B marketplace.

Earlypay is a publicly listed Australian company, a market kingpin in delivering new business financing solutions to Australian businesses by fueling BNPL services for B2B marketplace.

Earlypay will give the back-end technology, operational support and funding for WINEDEPOT LIQUIDITY.

Backed by Earlypay’s comprehensive credit insurance, the payment solution will allow WINEDEPOT MARKET buyers access to a line of credit that can be used across any product listed on its B2B e-commerce platform, ensuring that average order value remains high and credit terms are no barrier to sale.

Meanwhile, the last traded share price of the stock was A$0.150 per share.

2^nd May 04:53 PM PDT

GWR Group (ASX:GWR) reports quarterly total shipments of 107,498 wmt of iron ore

GWR Group Limited (ASX:GWR) has achieved historic maiden iron ore production during March quarter with total shipments of 107,498 wmt of Iron Ore at an average price USD 162/t.

Furthermore, GWR had initiated Iron Ore shipments from its Wiluna West C4 Iron Ore Mine, with the maiden vessel departing Geraldton in February 2021.

With improving mining efficiency, the Company is able to reduce the costs each month as the C4 pit develops.

The GWR stock last traded at AUD 0.315.

2^nd May 04:49 PM PDT

De Grey Mining’s (ASX:DEG) mineralisation footprint rises with Diucon and Eagle finds

De Grey Mining Limited (ASX:DEG) posted its quarterly results for the three-month period ending in March, which suggested that drilling during this quarter accelerated and delivered substantial growth at Hemi across multiple zones.

Key highlights from the quarter:

The mineralisation footprint of the Company increased with discovery of Diucon and Eagle.
Active rings on site increased from 8-10 during the quarter with drilling ongoing.
Total 99,374 of aircore, RC and diamond drilling during the period.
Building towards maiden Mineral Resource Estimate for Hemi in mid-2021.
Positive results obtained from metallurgical testwork on oxide ore and hydrometallurgical pathways including pressure oxidation, Albion and biological oxidation for fresh ore from Hemi.

Meanwhile, the stock of the Company DEG was spotted trading last at A$1.460 per share.

2^nd May 04:39 PM PDT

Orion Metals (ASX:ORM) reports further delays in progressing sale of Top Camp

Orion Metals Limited (ASX:ORM) has reported continued delays related to the sale and purchase of the 4 mining leases, including the Top Camp Project, under an exclusive binding Terms Sheet with Winfield Minerals Pty Ltd signed in March.

ORM has declared that the proposed formal Agreement aimed to replace the Terms Sheet is currently being drafted and there might be delays in finalising the same.

As a result of unforeseen situations, due diligence is yet to be finalised by Winfield.

The Company expects to hold the EGM in early to mid-June 2021, after the completion of the drafting of the Notice of the proposed EGM to obtain shareholders’ approval.

The ORM stock last traded at AUD 0.052.

2^nd May 04:39 PM PDT

Westpac’s (ASX: WBC) first-half earnings more than triple, declares dividend of 58 cents

One of Australia’s big four banks, Westpac Banking Corporation (ASX:WBC) has more than tripled its cash EPS to 97 cents during the first half of 2021 compared to the pcp. The same doubled for first half 2021 when compared to second half 2020.

WBC reported a growth of 189% in statutory net profit to AUD3,443 million versus first half 2020 and its cash earnings grew to AUD3,537 million, indicating a growth of 256%.

Westpac also declared an interim dividend of 58 cents per share for the first half 2021, which shall be paid on 25 June 2021.

The WBC stock last closed at AUD24.980.

2^nd May 03:22 PM PDT

2^nd May 03:14 PM PDT

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