Live ASX News Today
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6th May 06:44 PM AEST
Nearmap (ASX:NEA) Denies Patent Infringement Allegations
Nearmap Ltd. (ASX:NEA) has denied the allegations by US rival Eagleview. NEA states the patent Infringement allegations baseless.
Eagleview on Wednesday claimed Nearmap had infringed eight patents and it shall claim damages for same.
In reply Rob Newman, Nearmap’s CEO clarified today that, ‘company has always taken the subject of intellectual property rights and patent protections seriously and the allegations are without merit’. He mentioned that ‘company will vigorously defend itself against the complaint’. Nearmap also updated that its’ business remains unaffected by the complaint.
Nearmap was forced into a trading halt on Wednesday after it reported a strong H1 FY21 performance.
However, today NEA shares closed at AUD 1.810, down 23.306%.
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6th May 02:49 PM AEST
White Cliff Minerals (ASX:WCN) plunges after the results of reverse circulation drilling
White Cliff Minerals Limited (ASX:WCN) announced the results of reverse circulation (RC) drilling at the company's 100%-owned Reedy South Gold Project near Cue, Western Australia, on Thursday. In March 2021, the 6 hole 1,546m RC program was completed.
Mineralisation associated with the Reedy Shear Zone (RSZ) was confirmed by RC drilling up to a depth of 180m downhole. The aim of the drilling was to reach the RSZ between 180-240 metres downhole.
The Company confirmed that drillhole deviation from -60 degrees holes dropping to near -90 degrees meant that the Company did not intersect target zones within the RSZ from the western side of the RSZ.
Diamond tails are being evaluated by White Cliff for RC holes west of RSZ (RC042, RC043 & RC044) to target areas skipped by RC.
On the company’s performance, the stock was spotted in red, down 30.770% at AUD 0.018 per share at 1:34 PM AEST.
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6th May 02:37 PM AEST
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6th May 02:06 PM AEST
Why is Volt Resources (ASX:VRC) trading higher on the ASX today?
Graphite developer Volt Resources Limited (ASX:VRC) shared an update on 6 May 2021 on the progress of due diligence for the acquisition of a 70% interest in the Zavalievsky group of companies (ZG Group).
The Company shared Deloitte Ukraine's Financial and Tax draft due diligence report and AVELLUM's Legal and Commercial draft due diligence report have also been obtained and are currently being reviewed by the Volt board and management.
VRC also updated that Bilfinger Tebodin Ukraine (processing, engineering, capital projects, organisation) and Wardell Armstrong International (geology, mining, environment) are scheduled to release a joint technical draft due diligence report this week.
This quarter, the ZG Group acquisition would transform Volt into one of the few ASX-listed graphite producers, and the group is also planning to manufacture LIB anode material (SPG) to establish Europe's only integrated mine and SPG producer.
On the announcement, VRC was spotted trading 4.166% higher at AUD 0.025 per share at 1:17 PM AEST.
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6th May 02:06 PM AEST
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6th May 01:43 PM AEST
Adore Beauty Group’s (ASX:ABY) revenue 47% up in Q3 FY21
Beauty focused e-commerce website Adore Beauty Group Limited (ASX:ABY) posted its Q3 FY21 update on 6 May 2021.
Key Highlights-
- Revenue up 47%, at AUD 39.4 million.
- Customer base gone up 69%, with 687 thousand active clients.
- Launched Loyalty program in March with excellent sign-ups.
- Experienced Strong client retention and re-engagement rates during pandemic.
- Company is leveraging its’ online market leadership to capture market share.
The Company shared it is on track to achieve full year y-o-y, revenue growth of 43% - 47% in FY21.
Meanwhile, despite a positive update, ABY shares traded down 15.284% at AUD 3.880 at 1:15 PM AEST.
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6th May 01:21 PM AEST
Ardiden Limited (ASX:ADV) to sell 80% of its lithium portfolio to Great Northern Lithium.
Gold explorer Ardiden Limited (ASX: ADV) reported on Thursday that it has signed a binding Tenement Option and Acquisition Terms Sheet giving Great Northern Lithium (GNL) the option to purchase 80% of ADV's lithium portfolio.
The total consideration for the 80% stake may be up to AUD 8.7 million, and if the option is exercised, the purchase will be subject to shareholder and regulatory approvals.
Terms of the transaction include:
- A fee of AUD 200,000 for an exclusive due diligence period of up to 60 days.
- AUD 1,500,000 cash payment in advance at completion.
- Trailing cash instalments of AUD 7,000,000 in two equal tranches of AUD 3,500,000 at 9 and 18 months after completion.
Meanwhile, the share price of the stock ADV was quoted at AUD 0.012 per share, down 7.693% at 12:38 PM AEST.
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6th May 01:20 PM AEST
Starpharma (ASX: SPL) floats VIRALEZE™ in Europe
Starpharma Holdings Ltd. (ASX: SPL) launched its antiviral nasal spray VIRALEZE™ in the client markets of Europe.
Earlier it had been accessible via Lloyd’s Pharmacy only in the UK. Shall now be sold online and by independent pharmacies in entire Europe.
About spray VIRALEZE™ -
- a broad spectrum antiviral nasal virucidal spray
- inactivates more than 99.9% of coronavirus/SARS-CoV-2 in a minute.
- has proven potent antiviral activity against multiple respiratory viruses.
Company is pursuing ways to provide speedy access to VIRALEZE™ in India, Australia & other markets.
Potential success is making SPL shares trade at AUD 1.830, up 2.808%, with a market capitalisation of AUD 722.81 million at 12:57 PM AEST.
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6th May 01:17 PM AEST
Copper hits 10-year highs amid robust economic recovery
Source: © Lkeskinen0 | Megapixl.com
Copper prices hit new 10-year highs on Wednesday amid robust economic recovery after the COVID-19 slump.
- Benchmark copper prices for three-month delivery touched the US$10,040 per tonne mark on the London Metal Exchange (LME), the highest since February 2011. However, copper futures for July delivery traded 0.07 down at US$4.51 per pound on COMEX as of 6 May 2021 at 10:40 AM AEST.
- A 40-year fast recovery in the US economy and quick British manufacturing activity has fuelled the copper prices.
- The prices were additionally buoyed by economic stimulus packages that lifted hopes for robust economic recovery, lifting copper prices higher.
- President Joe Biden's multitrillion-dollar infrastructure plan has also lent optimism to copper bulls.
- Citi and Goldman Sachs have lifted their bets on copper, keeping copper's role in mind for carbon-free world.
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6th May 01:15 PM AEST
Oil softens on subdued demand amid rising coronavirus cases
Source: © Yakobchuk | Megapixl.com
Crude oil prices reached nearly 20-day highs during intraday trade on Wednesday due to a sharp decline in US crude oil inventories. However, the prices retreated during the closing sessions.
- Brent crude oil for July traded 0.17% down at US$68.50 per barrel, and June delivery WTI crude oil futures traded at US$65.09 per barrel down 0.82% as of 6 May 2021 at 10:01 AM AEST.
- The US crude oil inventories tumbled by 8 million barrels per EIA data in the last week. The export figures reached to 4.1Mbpd, the highest since March 2020.
- The prices were fuelled by the ease in restrictions in the United States and Europe, leading to improved economic activity.
- However, the rising COVID-19 cases is still a matter of concern and constantly weighing oil prices. India, the third-largest oil importer globally, has recorded 382,315 new cases yesterday, carrying the total number of cases to more than 20 million.
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6th May 01:11 PM AEST
Red Sky Energy (ASX:ROG) discovers 37-metre potential Net Pay zone in Killanoola
Oil & Gas Acquisition and Development company Red Sky Energy (ASX: ROG) on Thursday reported that an independent petrophysical assessment of the Killanoola - 1DW-1 well has been completed, with research revealing an additional 37 metres of possible Net Pay in the Killanoola.
This well is part of the Killanoola Oil Project (Killanoola), which is situated in South Australia's Penola Trough and is part of Red Sky's recently acquired PRL13.
Red Sky is currently revising its work schedule to include testing of the newly discovered pay zones.
These findings follow the recent extraordinary outcome of 16 million dollars in net pay for the Killanoola SE-1 well, which contrasted sharply with previous net pay figures of 1.5 million dollars.
Meanwhile, riding high on the announcement, ROG was spotted trading 22.222% higher at AUD 0.011 per share at 12:08 PM AEST.
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6th May 01:08 PM AEST
Clean Seas Seafood (ASX:CSS) completes A$25 million placement
Clean Seas Seafood Limited (ASX:CSS) shared on Thursday, it has successfully accomplished Placement to generate AUD 25 million.
The Company shared that the Placement witnessed a robust demand from new and existing investors.
The funds raised under the Placement will be invested completely in utilising existing production licences in South Australia and capitalising on global growth opportunities, retiring convertible note debt and to acquire the IceFreshTM exclusive licence.
The Company also announced it has lodged an application for secondary listing on Euronext Growth Oslo – the leading exchange for high growth seafood companies.
Meanwhile, the share price of the stock was quoted at AUD 0.600 per share, down 6.251% at 12:21 PM AEST.
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6th May 01:07 PM AEST
Maggie Beer (ASX:MBH) gains substantially as YTD sales rise
Shares of food and beverage company Maggie Beer Holdings Limited (ASX:MBH) jumped 7.6% to AUD 0.36 on Thursday.
MBH shared its year-to-date sales is up 18% from 2020 and it expects strong growth to continue in FY22 and beyond.
Though, up to Wednesday's close, the stock is down 32.1% this year so far but it was spotted trading 4.545% higher at AUD 0.345 per share at 12:03 PM AEST.
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6th May 12:28 PM AEST
Korvest (ASX:KOV) tracks best day in over a year in higher H2 view
The share price of Korvest Ltd (ASX:KOV) surged as much as 9.3% to AUD 4.80, set for their best day since 15 April 2020.
KOV expects H2 pre-tax profit of AUD 3.3 million – AUD 3.8 million, compared with H1 earnings of AUD 2.2 million.
Meanwhile, the stock was trading 9.339% up at AUD 4.800 at 12:09 PM AEST.
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6th May 12:27 PM AEST
Megado Gold (ASX:MEG) gains on gold find in Ethiopia
The shares of Megado Gold Limited (ASX:MEG) rose as much as 5.3% to AUD 0.20 on Thursday.
The gold explorer shared drilling at Babicho Gold project in southern Ethiopia has revealed presence of high-grade gold.
Nearly 200,000 shares got traded as compared with the 30-day average volume of ~68,000.
While the stock is down 7.3% YTD, as of the last close, it was spotted trading 2.632% lower at AUD 0.185 per share at 11:12 AM AEST.
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6th May 12:24 PM AEST
Afterpay (ASX:APT) records worst day since early March, loses nearly 15% in 2021 so far
Afterpay Limited (ASX:APT) traded down shedding further 6.2% on Thursday at AUD 100.3, set to extend declines into a fifth session.
The buy-now-pay-later firm was Australia's hottest stock in 2020, surging more than 300% as the pandemic sent more shoppers online.
Short positions on APT have been steadily rising this year, from about 1.2% at the start to 2.2% at the end April, as per ASIC data.
APT now just around A$1 off its lowest point in 2021 and at its lowest level in more than one month
So far this year, APT has lost ~15%.
The Company is exploring a U.S. listing, hoping to tap investors who lend a greater multiple toward growth and where much of its institutional investor base is.
Meanwhile, at around 11:51 AM AEST, the stock was trading 5.657% lower at AUD 100.910 per share, with a market capitalisation of AUD 30.95 billion.
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6th May 12:22 PM AEST
Hillgrove (ASX:HGO) share price skyrockets on copper find at a project
The share price of Hillgrove Resources Limited (ASX:HGO) rose as much as 85.2% to AUD 0.10, the stock’s highest since 29 January 2018.
The Copper explorer says drilling at its deposits in Kanmantoo in South Australia revealed high-grade copper mineralisation.
The stock has posted its biggest intraday percentage gain since 4 July 2016.
Nearly 60 million shares got traded as compared to the 30-day average volume of ~900,000.
While the stock has gained ~69% YTD, as of the last close, it was spotted trading 66.666% higher at AUD 0.090 per share at 11:42 AM AEST.
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6th May 12:00 PM AEST
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6th May 11:09 AM AEST
Plenti (ASX:PLT) doubles funding capacity in renewable energy & personal lending warehouse facility
Plenti Group Limited (ASX:PLT) has announced it has doubled up the funding capacity of its renewable energy and personal lending warehouse facility.
Funders include an Australian ‘big four’ bank approving a limit increase of AUD 200 million from AUD 100 million.
The rise in warehouse facility comes just four months after the warehouse was established and will support continued renewable energy and personal loan origination growth.
The additional warehouse capacity brings Plenti’s total warehouse funding capacity to AUD 550 million.
Meanwhile, the stock PLT was found trading 1.695% down at AUD 1.160 per share at 10:33 AM AEST.
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6th May 11:09 AM AEST
Strategic Elements’ (ASX:SOR) Robotic security vehicle passes Site Acceptance Test, shares surge
Strategic Elements Limited (ASX:SOR) shared on Thursday that its Autonomous Security Vehicle (ASV) has successfully passed Site Acceptance Testing at the Eastern Goldfields Regional Prison.
SAT is considered as a major milestone in the delivery of autonomous technologies to an end customer.
The ASV developed for the Eastern Goldfields Regional Prison was designed to complete fully autonomous security missions around the perimeter of the prison. The ASV is seamlessly integrated into the prison’s security management platform and can navigate pre-defined missions to test all aspects of the interior and exterior fence line technology.
Meanwhile, riding high on the announcement, the share price of the stock was quoted at AUD 0.330 per share at 10:45 AM AEST.
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6th May 10:55 AM AEST
Octanex (ASX:OXX) raises A$750k to support Sefton Project
Octanex Limited (ASX:OXX) shared that it has successfully completed a placement of 15,000,000 ordinary fully-paid shares at AUD 0.05 per share to raise AUD 750,000.
The funds raised will be used to advance exploration at the Company’s projects, particularly its Sefton Project initiative where the Company has established an extensive tenement position in this region where there is very little modern exploration.
Meanwhile, the stock OXX was trading last at AUD 0.060 per share on the ASX.
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6th May 10:54 AM AEST
Strike Energy’s (ASX:STX) Project Haber to reduce country’s CO2 footprint
Strike Energy Limited (ASX:STX) provided a solid update on its proposed urea development, Project Haber based in Geraldton, W.A.
The Company shared this project is likely to reduce Australia’s urea fertiliser CO2 footprint by 50-60% from a 2019 base, equivalent to 650-795,000 tonnes of CO2 per annum.
Project Haber on success, will place Australia as one of the lowest carbon urea producing regions globally, the release said.
It is estimated that the Project may deliver AUD 8.4 billion of GDP, around 1,135 full time jobs during the construction phase and Commonwealth taxation revenue of AUD 144 million per year of operations.
Meanwhile, the stock STX was spotted trading 1.408% up at AUD 0.360 per share, with a market cap of AUD 701.70 million at 10:30 AM AEST.
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6th May 10:16 AM AEST
APA (ASX:APA) to expand East Coast Grid, strikes deal with Origin Energy (ASX:ORG)
ASX 200-listed energy infrastructure business APA Group (ASX:APA) has shared it had reached a Final Investment Decision (FID) to start expansion of transportation capacity on its East Coast Grid, liking Queensland with southern markets, by approximately 25%.
The Company also shared it has signed a new East Coast Grid gas transportation agreement (GTA) with Origin Energy Limited (ASX:ORG).
Total incremental revenue over the initial three-year GTA is around AUD 190 million.
APA will deliver a portfolio of flexible services on the East Coast Grid, including on the Moomba Sydney Pipeline and the South West Queensland Pipeline.
Meanwhile, the stock APA was trading last at AUD 10.000 per share on the ASX.
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6th May 10:16 AM AEST
Eclipx Group Limited (ASX:ECX) maintains positive momentum after NPATA grows 77%
Eclipx Group Limited (ASX:ECX) has remained on track to outperform in the first half of FY21 with a 77% growth in its Net Profit After Tax & Amortisation versus pcp. Moreover, EBITDA of AUD66.5 million during the period indicated a like for like growth rate of 43% compared to pcp.
The Company has maintained positive momentum and robust order book across all three target markets and its projects are aligned with digital platforms in roll-out or testing, and distribution channel partners growing.
The ECX stock was noted at AUD1.980 at 10:16 AM AEST.
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6th May 10:06 AM AEST
Mercury NZ Limited (ASX:MCY) makes fresh addition to the leadership team
In the latest development, Mercury NZ Limited (ASX:MCY) has appointed Craig Neustroski to the role of General Manager Customer, wherein he shall be reporting to the Chief Executive Vince Hawksworth.
MCY believes that this role was a significant addition to the leadership team as it is centred on offering a seamless end-to-end experience for the customers of MCY.
The Company looks forward to achieving its strategic long-term goal to become the leading energy brand of New Zealand and continue to deliver for its customers while steering development of its retail business.
The MCY stock opened at AUD6.700 on ASX on 06 May 2021.
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6th May 10:05 AM AEST
Ardent (ASX:ALG) strikes a deal with Evolution Group to develop the Dreamworld Resort
Ardent Leisure Group Limited (ASX:ALG) shared via an ASX announcement that it is entering into a non-binding agreement with Evolution Group to develop the Dreamworld Resort.
As per the release, future dreamworld guests will be able to stay and play, with plans underway for a new AUD 75 million Dreamworld Resort including a resort-style hotel and tourist park.
Evolution Group will be funding and building an accommodation precinct on part of the surplus land owned by Ardent Leisure adjacent to the Dreamworld park.
The accommodation offering will feature a 4-star 250 room resort-style hotel, 40 bungalows and 5-star tourist park with 100 powered sites.
Meanwhile, the stock ALG was spotted trading last at AUD 0.780 per share.
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6th May 10:01 AM AEST
Zelira Therapeutics (ASX:ZLD) launches HOPE™ range of products in Washington DC
Global leading developer of clinically validated cannabis medicines Zelira Therapeutics Limited (ASX:ZLD) is now distributing its HOPE™ products in the District of Columbia through its partnership with Alternative Solutions LLC.
The product is available at the National Holistic Healing Center and this launch indicates a significant step forward in ZLD’s strategic focus on increasing access to HOPE™ all across the US.
The ZLD stock last traded at AUD0.053 on 05 May 2021.
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6th May 09:45 AM AEST
National Australia Bank Limited (ASX:NAB) remains optimistic on the back of economic recovery
National Australia Bank Limited (ASX:NAB) has reported a statutory net profit of AUD3,208 million for 1H21 while its cash earnings rose by 94.8% to AUD3,343 million during 1H21 as compared to 1H20.
The results of NAB indicate improving conditions and increasing confidence in the outlook that have resulted in the increase of 2021 interim dividend to 60 cents per share.
NAB observes that the Australian and New Zealand economies have recovered in a better than anticipated manner and remains optimistic on the back of vaccine rollout and persistent robust health results.
The NAB stock last closed at AUD27.370 on 05 May 2021.
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6th May 09:16 AM AEST
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6th May 08:42 AM AEST
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6th May 08:37 AM AEST