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11^th May 10:00 PM AEST

More than A$17 billion granted for aged care

Treasurer Josh Frydenberg shockingly mentioned that the Royal Commission into Aged Care Quality and Safety revealed neglect and abuse cases.

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Frydenberg announced AUD 17.7 billion in new funding to significantly improve the system.

He stated the government will be funding another 80,000 new home care packages, bringing the total to 275,000 home care packages running currently.

An additional payment of AUD 10 per resident per day will be made to improve the viability and sustainability of the residential aged care sector.

33,000 new training places for personal carers will be set up.

This package brings the record investment in aged care to more than AUD 119 billion over the next four years.

11^th May 10:00 PM AEST

Federal Budget 2021 - A$2 billion for strengthening national security

Treasurer Josh Frydenberg stated that besides pandemic, there were other threats to the society. He elaborated that to keep the people of Australia safe from these threats, whether domestic or foreign – the Government will be providing an additional AUD 1.9 billion for next ten years to strengthen the national security, enforcement of the law and to empower intelligence agencies.

A$270 billion will be invested for boosting defence capability.

11^th May 08:08 PM AEST

Mental health is a national priority: Frydenberg

2.3 billion has been allocated to the mental health and suicide prevention, stated Josh Frydenberg.

He mentioned that everybody is struggling with issues related to mental health. Presenting the statistics, he said, “suicide is the major cause of death in people aged from 18-44. Each year, more than 65,000 of Australians try to take their own lives.

Josh elaborated that more headspace centres will be opened to support more young Australians. He announced increased funding for the treatment of eating disorders and a much better access to psychiatrists, psychologists and general practitioners via Medicare.

He also declared that a new National Suicide Prevention Office will be set up.

11^th May 07:58 PM AEST

Deficit to go below A$161 billion this year because of economic fall induced by COVID-19

Josh Frydenberg mentioned the deficit will touch AUD 161 billion this year, falling to AUD 57 billion in 2024-25.

Net debt will rise to AUD 617.5 billion or 3% of GDP this year and peak at AUD 980.6 billion or 40.9% of GDP in June 2025.

This is low by international standards.

11^th May 07:56 PM AEST

Australia is coming back, the economic engine is roaring back to life: Josh Frydenberg

Treasurer Josh Frydenberg, in his Budget speech mentioned that the spirit of the country shone throughout the COVID-19 pandemic. He stated Australia saw the employment go above its pre-pandemic levels.

He said, “at 5.6%, unemployment today is lower than when we came to government”. Also, he mentioned JobKeeper scheme kept 3.8 million people in their job, JobSeeker helped 1.5 million people without work.

11^th May 07:54 PM AEST

Attention women! Here’s what the upcoming budget has in store for you

Tonight’s Federal Budget will incorporate around AUD 354 million for women’s health.

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The Federal Government of Australia has been, lately, focusing on women and their welfare. The upcoming aid lift, scattered over a term of four years, will also focus on bettering access to mental health benefits for new and expectant mothers.

Over AUD 100 million has been assigned to upgrading cervical and breast cancer screening services.
Around AUD 47 million will go to programmes and schemes dedicated to perinatal period while, approximately AUD 27 million will be given to fight eating disorders.
Approximately AUD 95.9 million will be expended on diagnosing of embryos for abnormalities during the IVF process and AUD 13.7 million is getting allotted to minimise pre-term birth rates.
AUD 21.6 million will be allocated towards women’s health initiatives.

11^th May 05:29 PM AEST

Single parent? This is what the Federal Budget 2021 has for you!

Under the auspices of a scheme, single parents will be given federal government assistance to buy a home.

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Thanks to this scheme, single parents will now be able to buy a house with a 2% deposit, with the government guaranteeing another 18% of the loan’s value.

The scheme will be implemented for the term of four years and should be supporting as many as 10,000 single parents in total.

Though, the scheme will be subjected to property price caps.

11^th May 05:26 PM AEST

Dexus (ASX:DXS) to buy APN Property Group (ASX:APD) for A$320 million

Dexus (ASX:DXS) on Tuesday, announced that it has entered into a binding Scheme Implementation Deed (SID) with APN Property Group (ASX:APD) in relation to a proposal for Dexus to acquire all of the stapled securities in APN for a cash-consideration of 91.5 cents per security.

On completion of the transaction, Dexus will have a funds management portfolio comprising AUD 23.9 billion.

Total consideration payable by Dexus represents an equity value of AUD 320 million and enterprise value of AUD 308 million.

11^th May 04:46 PM AEST

11^th May 04:19 PM AEST

Blaze International (ASX:BLZ) gains on acquisitions, eyes best day in 10 months

The share price of Blaze International Limited (ASX:BLZ) climbed as much as 27.8% to AUD 0.046, marking its biggest intraday percentage gain since 7 July 2020.

Diversified minerals explorer entered into separate conditional share sale agreements to acquire Australian explorers Iconic Minerals Pty Ltd and Hammerhead Exploration Pty Ltd.

Hammerhead Exploration and Iconic Minerals own a combined six tenement applications in the Earaheedy Basin of Western Australia.

BLZ also received commitments to raise AUD 1.5 million for the exploration and development of new tenements.

About 22.3 million shares were traded as compared to the 30-day average volume of 1.2 million shares.

While the stock had risen 16.1% this year, as of the last close, it was trading at AUD 0.039 per share, up 8.333% at 3:20 PM AEST.

11^th May 04:18 PM AEST

Budget will be set up alongside humanitarian tragedy of COVID: Scott Morrison

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Addressing the Federal Budget 2021 in Question Time, Prime Minister Scott Morrison stated that the upcoming budget will be framed against the humanitarian tragedy expanding across the world.

Morrison had stated earlier that the budget will have its focus on job creation and increased funding for aged care, mental health, and the National Disability Insurance Scheme.

11^th May 03:16 PM AEST

Pilbara (ASX:PLS) and Calix (ASX:CXL) join forces to promote a chemicals refinery

Technology focused firm Calix Limited (ASX:CXL) shared it has executed an MOU with Pilbara Minerals Limited (ASX:PLS) for the sake of development of a Joint Venture Project to promote a lithium chemicals refinery.

Pilbara and Calix will embark on a research to evaluate a new refining procedure integrating Calix’s exceptional calcination technology and following production of a concentrated lithium salt ‘midstream product’ for lithium batteries.

Pilbara possesses and manages the Pilgangoora deposit, one of the biggest lithium resources in the world.

As of now, ore is treated to make a spodumene concentrate which is then transported to customers abroad for conversion into lithium carbonate or lithium hydroxide. This is then used in making lithium ion batteries.

Meanwhile, the stocks PLS and CXL were spotted trading at AUD 1.257 and AUD 2.690 per share each at 2:45 PM AEST.

11^th May 02:06 PM AEST

Iron ore sets new record amid robust demand from the Chinese steel industry

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Iron ore prices surged to another level overnight, rising around 8.6 per cent to hit US$230 per tonne on skyrocketing steel prices in China.

For the first time in history, the prices surged to this record level as the market's equilibrium is disturbed by robust demand from Chinese steelmaking industries and supply deficit.
Chinese steelmakers keep output rates above 1 billion per year despite stringent environmental emission rules from the Chinese government.
Lower supplies from the leading miners, including Rio Tinto (ASX:RIO), Vale S.A., BHP Group (ASX:BHP), due to weather disruptions and operational challenges during the first quarter of 2021 has created a deficit in the market.
Australia is the leading supplier of iron ore to China and the ongoing trade tension between both countries has additionally fuelled the iron ore prices.

11^th May 02:05 PM AEST

11^th May 01:57 PM AEST

Oil prices soften on the news of US Colonial Pipeline planning to restart

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Crude oil prices settled lower on Monday after recording substantial gains during the initial trade sessions.

The prices crunched after the news from the cyber attacked US fuel pipeline, saying that it could restart the operation within a week.
WTI crude oil futures for June delivery traded at US$64.88 per barrel down 0.06% as of 11 May 2021 at 10:16 AM AEST, whereas Brent crude oil futures for July delivery traded 0.04% down at US$68.25 per barrel.
Colonial Pipeline is the US's largest fuel pipeline, and it was shut down after a cyberattack on Friday. However, on Sunday, some minor conduits were in operation while the main lines were closed.
Brent has risen more than 30 per cent this year, but increasing coronavirus cases in Asia, especially in India, has weighted the oil prices due to subdued demand.

11^th May 12:08 PM AEST

Starpharma Holdings’ (ASX:SPL) VIRALEZE™ partners with professional English rugby union team

Starpharma Holdings Limited (ASX:SPL) has noted the partnership between Harlequins with VIRALEZE™ , an antiviral nasal spray for COVID-19 developed by SPL.

Harlequins is a professional English rugby union team which plays in the English Premiership, the top-notch English rugby union.

VIRALEZE™ has demonstrated in laboratory studies to swiftly inactivate over 99.9% of coronavirus/SARS-CoV-2.

Earlier, VIRALEZE™ has been highly regarded by consumers in the UK since its launch in March 2021 through the LloydsPharmacy chain.

The SPL stock was noted at AUD 1.715 at 12:00 PM AEST.

11^th May 11:49 AM AEST

Challenger (ASX:CEL) increases ground position surrounding Hualilan and raises AUD42.1 million

Challenger Exploration Limited (ASX:CEL) has extended the land position four-fold to around 80 km²at its flagship Hualilan Gold Project in San Juan.

The Company has acknowledged the receipt of a formal notification of the direct award of the 20.6 km²Ayen Exploration Licence surrounding the present Hualilan Mining Licenses including the Hualilan Gold Project.

Besides this, CEL has also received firm commitments for an AUD42.1 million under a placement that was strongly supported by domestic and global institutions.

The funds raised shall be utilised towards drill programs, and various key studies at the Hualilan Project along with the acquisition of final 25% of the Project.

The CEL stock was noted at AUD0.330 at 11:45 AM AEST.

11^th May 11:40 AM AEST

Coca-Cola Amatil to be removed from official list of ASX following acquisition by CCEP

Coca-Cola Amatil Limited (ASX:CCL), along with its wholesale debt securities shall be removed from the Official List of ASX Limited at the close of trading on 11 May 2021.

This decision comes after the execution of the scheme of arrangement between CCL and its shareholders in relation to the acquisition of all the issued capital in CCL by Coca-Cola European Partners plc (CCEP).

On 10 May 2021, CCEP concluded the acquisition of all of the CCL shares held indirectly by The Coca-Cola Company (TCCC) in accordance with the Co-Operation and Sale Deed between CCEP and TCCC.

The CCL shares last traded at AUD 13.300.

11^th May 11:26 AM AEST

11^th May 11:06 AM AEST

Cobre Limited (ASX:CBE) kicks off drilling at Kitlanya East project in Botswana

Cobre Limited (ASX:CBE) has concluded the mobilisation to site of both Reverse Circulation (RC) and Diamond Core (DC) drill rigs on the Kitlanya East (KIT-E) project in Botswana.

This project is wholly owned by Kalahari Metal Limited, and the drilling programme is aimed at targeting structurally controlled trap-sites for prospective copper/silver deposits detected through previous exploration programs.

At 11:12 AM AEST, the CBE stock was noted trading up by 4.545% at AUD0.172.

11^th May 11:05 AM AEST

Blaze International Limited (ASX:BLZ) to acquire Hammerhead Exploration and Iconic Minerals

Blaze International Limited (ASX:BLZ) has inked separate and unrelated conditional share sale agreements for the acquisition of Hammerhead Exploration Pty Ltd and Iconic Minerals Pty Ltd.

Hammerhead and Iconic collectively own six tenement applications in the Earaheedy Basin of Western Australia spanning over the immediate northern and western strike extension of the latest Zinc-Lead discovery of Rumble Resources Limited (ASX:RTR).

BLZ has carefully and geologically targeted the tenements that are subject to acquisition by BLZ and lie on the highly prospective units within the Earaheedy Basin.

The BLZ stock was noted at AUD0.041 at 11:05 AM AEST.

11^th May 10:20 AM AEST

Jadar shakes hands with European Lithium to jointly progress on Austrian Lithium projects

Jadar Resources Limited (ASX:JDR) announced that the company has entered into an agreement with European Lithium Limited (ASX:EUR) to collaborate on the Weinebene and Eastern Alps lithium projects in Austria.

Jadar owns 80% of interests in the lithium projects. Under the agreement, Jadar has waived its first right to refuse the remaining 20% stake in the lithium projects, enabling Exchange Minerals to sell the remaining 20% interests to European Lithium.

Both projects are located only 20 kms from European Lithium’s Wolfsberg project. The close proximity of the two lithium projects to the Wolfsberg project allows the two future partners to work together towards synergistic development.

11^th May 10:17 AM AEST

Aguia Resources (ASX:AGR) reports additional exceptional agronomic test results from TEPP on rice

Aguia Resources Limited (ASX:AGR) has reported extraordinary results from agronomic tests on rice using Direct Application Natural Fertiliser (DANF) products from the Três Estradas Phosphate Project (TEPP) deposit.

The results suggest Pampafos® and Lavrato® to be extremely efficient natural products. The efficiency has been evident in the tests where phosphate from conventional sources, which are chemically treated, were totally replaced.

AGR looks forward to progressing a range of agronomic tests across the State of Rio Grande do Sul which are expected to be vital for the marketing of its products in the coming times.

The AGR stock traded at AUD0.074 on 10:17 AM AEST.

11^th May 09:56 AM AEST

ACCC seeking views on proposed Woolworths' (ASX:WOW) undertaking of 65% PFD acquisition

The ACCC is open for view in relation to a proposed undertaking provided by Woolworths Group Limited (ASX:WOW) and PFD Food Services with respect to WOW’s proposed acquisition of 65% of PFD.

The ACCC had outlined preliminary competition concerns through a statement of issues. Subsequently, WOW and PFD had offered a draft behavioural undertaking devised to retain a degree of separation and autonomy between WOW and PFD for three years following the acquisition.

Moreover, this duration could be shorter in some situations.

The submissions regarding the same are open till 9AM on 19 May 2021 and ACCC’s final decision is anticipated on 10 June 2021.

The WOW stock opened at AUD40.500 on 11 May 2021.

11^th May 09:56 AM AEST

Fingers crossed as Boral Limited (ASX:BLD) recommends shareholders to reject off-market offer

In the latest announcement, Boral Limited (ASX:BLD) has recommended its shareholders to reject the AUD6.50 offer from Seven Group Holdings (SGH) by taking no action in light of an off-market offer by SGH which intends to acquire 100% of BLD.

The offer comprises a total cash consideration of AUD6.50 per share and remains conditional upon no significant unfavourable change in relation to BLD or the S&P/ASX 200 index.

A committee formed by BLD comprising of its directors has indicated that the offer is opportunistic and undervalues the Company. Therefore, BLD has recommended shareholders to reject the offer once it opens.

The BLD stock last closed at AUD6.500 on 10 May 2021.

11^th May 09:41 AM AEST

Health House International (ASX:HHI) proposes acquisition of German medicinal cannabis company

Health House International Limited (ASX:HHI) has declared the proposed acquisition of CanPharma GmbH, subject to HHI shareholders and satisfaction of all the conditions of the sale.

As a result of the proposed acquisition, HHI shall fully acquire CanPharma, a privately held firm with operations in Spain and Germany, by way of an all-scrip transaction.

CanPharma has the highest level of pharma licences from German regulators and the completion of the acquisition is anticipated to consolidated group to significantly exploit one of the fastest expanding pharma sectors across the globe.

The HHI stock last closed at AUD0.170 on 10 May 2021.

11^th May 09:15 AM AEST

11^th May 08:35 AM AEST

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