Live ASX News Today
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25th May 04:53 PM AEST
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25th May 03:36 PM AEST
Variscan Mines (ASX:VAR) surge up to 100% on the ASX. Here’s why
The share price of Variscan Mines Limited (ASX:VAR) surged up to 100% on Tuesday.
The Company announced underground drilling has intersected high-grade zinc mineralisation above and below the mine stopes in the Central Zone of the San Jose Mine.
Also, the Company shared the remainder of the mine is primarily untested at depth, providing potential for further discoveries of high-grade mineralised lenses.
At 3:15 PM AEST, the stock VAR was spotted trading up 78.378% at AUD 0.066 per share.
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25th May 03:20 PM AEST
Emmerson (ASX:ERM) posts ‘outstanding’ high-grade gold results from Tennant Creek, shares surge
The share price of the stock Emmerson Resources Limited (ASX:ERM) was quoted up 11.267% at AUD 0.079 per share at 3:00 PM AEST.
The Company shared that it has got significant new drill results from the Black Snake and Susan gold prospects.
ERM reported that high-grade near-surface gold mineralisation enhances the potential for open-pit mining. Also, the new high-grade gold intercepts from Susan indicate extensions of the gold-bearing oxide zone.
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25th May 03:01 PM AEST
Rex (ASX:RXM) repays loan facility, becomes debt-free
Rex Minerals Limited (ASX:RXM) shared on Tuesday that it repaid its Loan Facility on 24 May 2021, thanks to the successful completion of the Company’s Placement in April 2021.
The Company statement read that the Loan Facility allowed the Company to fund work at Hillside and Hog Ranch without the need to dilute shareholders when the firm's market capitalisation was approximately AUD 19 million.
Rex declared that now it is debt-free and moves towards developing its flagship Hillside Copper Project in South Australia and is drilling at Hog Ranch Gold Project in Nevada, USA.
The share price of the stock RXM was quoted down 1.235% at AUD 0.400 per share at 2:40 PM AEST.
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25th May 02:59 PM AEST
Bard1 Life Sciences (ASX:BD1) showcases the feasibility of its recent breast cancer study
Bard1 Life Sciences Limited (ASX:BD1) announced the results of a first-round study that validates the viability of using SubB2M in an IHC application for breast cancer tissue.
SubB2M is a protein that binds exclusively to a sugar, Neu5Gc, linked with a range of cancers.
This is the first time that SubB2M has been used to visualise staining of cancer in formalin-fixed, paraffin-embedded (FFPE) tissue sections. The study compared cancer tissue from an aggressive ductal breast cancer tumour biopsy to a non-cancer breast tissue biopsy.
The stock BD1 traded 5.372% down at AUD 2.290 per share at 2:30 PM AEST.
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25th May 02:59 PM AEST
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25th May 02:39 PM AEST
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25th May 01:12 PM AEST
Nanollose (ASX:NC6) gains on first dispatch of product to India
The shares of bio-material maker Nanollose Limited (ASX:NC6) gained as much as 8.9% to AUD 0.098 per share on Tuesday.
The Company shared the first shipment of its refined Microbial Cellulose fibre has been dispatched to a facility in India, where it will be used to generate samples for potential use in fashion and textiles industries.
The stock is up 66.7% this year, as of the last close and was trading at AUD 0.095 per share, up 5.55% at 1:00 PM AEST.
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25th May 01:09 PM AEST
Straker Translations (ASX:STG) gains on upbeat outlook, improved FY earnings
Straker Translations Limited (ASX:STG) jumped as much as 13.33% to AUD 2.05 at 12:30 PM AEST, trading at its highest levels since 14 August 2019.
The New Zealand-based translation services provider forecasts FY revenue of over NZD 50 million at an improved gross margin.
Straker Translations informed FY adjusted EBITDA loss narrowed 66% to NZD 0.2 million, while revenue rose 13% to NZD 31.3 million.
The Company added that the improvement reflected the acquisitions' contribution in Q4 and in the last quarter of the 2020 financial year.
The stock is up 20% this year, as of the last close.
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25th May 12:36 PM AEST
Element 25 (ASX:E25) gains on port facility deal for bulk manganese export
The share price of Element 25 Limited (ASX:E25) gained as much as 7.3% to AUD 2.34 per share on Tuesday.
The mineral explorer confirmed that it executed a Multi User Access deal with the Pilbara Port Authority.
The deal is for the use of Utah Point facility in Western Australia for the bulk export of manganese from the Company’s production facility at the Butcherbird Project.
The stock is up 44.4% this year, as of the last close.
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25th May 12:35 PM AEST
Technology One (ASX:TNE) jumps on strong half-year result, outlook
The shares of software making firm Technology One Limited (ASX:TNE) gained as much as 9.3% to AUD 9.83, their highest since 28 April.
The Company stated half-year net profit after tax rose 48% to AUD 28.2 million, revenue up 5% to AUD 144.3 million.
TNE informed that it expects full-year profit before tax to be 10% to 15% higher than FY20 underlying profit.
The stock has posted its biggest intraday percentage gain since 26 March 2020.
The stock has risen 9.6% this year, as of the last close and was spotted trading at AUD 9.020 per share, up 0.333% at 12:12 PM AEST.
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25th May 12:30 PM AEST
Devine (ASX:DVN) shares sky-rocket on CIMIC’s A$30 million takeover bid
The share price of Devine Limited (ASX:DVN) rose as much as 108.3% to AUD 0.25, marking its biggest intraday percentage gain since listing.
Infrastructure giant CIMIC Group (ASX:CIM) says its unit CIMIC Residential Investments Pty Ltd (CRI) intends to make an offer to acquire shares it does not already hold in DVN.
CIM has offered AUD 0.24 cash per DVN share, CRI currently owns 59.1% stake in the company.
The offer values DVN at AUD 38.1 million and CIM's portion of cash outlay will be about AUD 15.6 million.
DVN has stated it will evaluate CIM's proposal and recommended shareholders to take no action.
Around 720,000 shares got traded as compared to the 30-day average volume of 31,512 shares.
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25th May 12:30 PM AEST
Copper prices dip near one-month lows
Source: © Gana123 | Megapixl.com
Copper prices rose on Monday after recording a near month's low as a weaker dollar spurred modest purchase.
- Copper futures for July delivery traded 0.19% up at US$4.54 per pound on COMEX as of 25 May 2021 at 10:47 AM AEST.
- The partial increase in the prices can be attributed to the weaker US dollar, making it easy to purchase the metal for other currency holders.
- However, the prices dipped to a nearly one-month low level before Monday on China's decision to cap commodity prices to restrict the unreasonable increase in prices.
- The bets on copper were cut by 9,000 lots in the last week, as per Commodities Futures Trading Commission (CFTC) data.
- Supply disruptions from the leading suppliers, including Chile and Peru, supported the red metal; however, higher outputs in Congo, Indonesia, Panama, Mongolia and Russia offset the supply deficit.
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25th May 11:42 AM AEST
Citi upgrades PT for Aristocrat Leisure Limited (ASX:ALL), Buy at A$46.6
Financial research firm Citi has raised the price target on Aristocrat Leisure Limited (ASX:ALL) to AUD 46.6 from AUD 44.50 as per the refinitiv data.
The new PT represents a 14.5% upside to the stock's last close, at a ‘buy’ rating.
The broker said ALL is seeing improving rates of profitability in land-based and digital markets. It has thus kept ALL earnings outlook essentially unchanged. Citi added that digital margins are a vital source of upside shift. It expects the margins to expand further over the coming years.
ALL on Monday posted a 73.5% drop in HY profit after tax and said it expected uncertain and volatile conditions to continue in the near term. Since the last close, stock up 31.1% this year.
ALL shares traded at AUD 41.30 on ASX on 25 May, 11:16 AM AEST.
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25th May 11:42 AM AEST
James Hardie (ASX:JHX) Investor Presentation Highlights Robust Financial Results
James Hardie Industries PLC (ASX:JHX) shared its Investor Presentation today on ASX.
Key Highlights for investors-
- Company had USD 107 million in cumulative global LEAN savings FY20.
- Drove profitable growth in North America; Net Sales growth 12% (FY21).
- Increased Net Sales in Europe to EUR 351 million and Adjusted EBIT 4X in FY21 from FY19
- Expanded APAC Adjusted EBIT Margin to 28% (FY21) from 24% (FY15-FY19)
- Delivered record operating cash flow of USD 787 million in FY21, a 2.6X increase from FY19.
- JHX aligned Capital Allocation Priorities with Value Creation
JHX shares trade on ASX at AUD 41.300 on 25 MAY 10:18 AM AEST
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25th May 11:42 AM AEST
Eagers Automotive (ASX:APE) to benefit from industry conditions: Jefferies
According to Refinitiv, Brokerage Jefferies said that the auto industry sees strong retail demand and a short supply of automotive parts. Such perfect conditions are favourable for automotive retailer Eagers Automotive Ltd (ASX:APE).
The company's shares are up 12.3% this year. The brokerage has upgraded APE's FY21 net profit after tax forecast by 14.6% to AUD260 million. It expects revenue to be at AUD9.58 billion. The base case scenario doesn't expect strong industry conditions to extend further, leading to an earnings drop in FY22.
Jefferies restated PT to AUD 14.9 for APE and rated it as "hold". 8 of 12 analysts rate APE as "buy" or higher, 3 "hold" and 1 "sell". Median PT as per Refinitiv data stands at AUD16.20.
APE shares trade on ASX at AUD 14.960 on 25 MAY 10:46 AM AEST.
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25th May 11:08 AM AEST
Doctor Care (ASX:DOC) strikes a deal with UK healthcare firm, stock gains
The share price of Doctor Care Anywhere Group PLC (ASX:DOC) gained as much as 9.9% to AUD 0.89 on Tuesday.
The tele-health firm stated it has signed head of terms with Nuffield Health, a UK-based private healthcare organisation.
The deal is to develop a digitally integrated virtual and in-person primary care service.
Doctor Care added that the deal will help the Company to be able to increase the scope and volume of primary care consultations.
Though the stock is down 32.5% this year, as of the last close, it was spotted trading 8.641% higher at AUD 0.880 per share at 11:03 AM AEST.
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25th May 11:08 AM AEST
Senex Energy (ASX:SXY) appoints new CFO, shares hit 2-week high
The share price of Senex Energy Ltd (ASX:SXY) rose as much as 3.6% to AUD 3.16, marking its highest levels since 10 May 2021.
The natural gas producer has announced the appointment of Simon Ellinor as the chief financial officer of the Company.
The firm had previously announced that currently serving CFO Mark McCabe was appointed to the role of chief commercial officer.
The stock is up 22.7% this year, as of the last close and was spotted trading 2.622% higher at AUD 3.130 per share at 10:48 AM AEST.
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25th May 10:56 AM AEST
Z Energy (ASX:ZEL) says yes to Refining NZ on Import Terminal Conversion
Z Energy Limited (ASX:ZEL) has announced it has entered an in-principle agreement with Refining NZ, a New Zealand-based Company, to transition the refinery to an Import Terminal System (ITS).
The 10-year agreement is a non-binding one and is likely to deliver flexibility, pricing transparency and most importantly, reduce the environmental impact. It will also help decreasing the volatility in ZEL’s earnings and release working capital from the supply chain.
ZEL shares traded 1.239% higher at AUD 2.450 per share at 10:40 AM AEST.
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25th May 10:56 AM AEST
Infratil (ASX:IFT) Infrastructure bonds open now for NZ investors
Infratil Ltd (ASX:IFT, NZX:IFT) today announced offering unsecured, unsubordinated fixed rate Infrastructure Bonds for NZ investors. The interest rate is fixed at 3.60% p.a. for the entire bond term. Bonds are to be quoted on the NZX Debt Market.
Bond offering is up to NZD50 million with a maturity date of 15 December 2027. Further NZD50 million of oversubscriptions is allowed at Infratil’s discretion.
The Offer comprises a General Offer to all investors in New Zealand and an Exchange Offer for holders of the IFT220 bonds that mature on 15 June 2021 to exchange maturing bonds.
The Exchange Offer will close on 10 June 2021 and the General Offer on 30 June 2021. Infratil may elect to complete the Offer earlier.
IFT shares traded at AUD 6.980 on ASX on 25 May, 9:33 AM AEST.
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25th May 10:40 AM AEST
Airtasker (ASX:ART) completes A$20.7 million placement, shares surge on ASX
Airtasker Limited (ASX:ART) on Tuesday revealed that it has successfully raised AUD 20.7 million through a fully underwritten share placement to investors at AUD 1.00 per share.
The Company has issued around 20.7 million new fully paid ordinary shares.
As per the announcement, the funds generated will aid the Zaarly Inc. acquisition, expansion into key city markets in the US and the UK, and the Offer costs.
The stock ART was trading 12.500% higher at AUD 1.215 per share at 10:18 AM AEST.
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25th May 10:34 AM AEST
Oil bulls run amid strong economic optimism & robust energy demand
Source: © Lkeskinen0 | Megapixl.com
Crude oil prices jumped on Monday from the last week’s low amid increased economic optimism and worldwide strong energy demand.
- Brent crude oil futures for August delivery traded 0.18% down at US$68.28 per barrel, whereas July delivery WTI crude oil futures traded at US$65.92 per barrel, 0.21% down as of 25 May 2021 at 10:11 AM AEST.
- A better-than-expected May Markit manufacturing PMI data from the US, UK and Europe have indicated robust energy demand, favouring the oil prices.
- However, the oil's rally is likely to be softened in future due to the oversupply of crude oil by Iran amid the possible easing of sanctions on the country by the US, a step to revive the 2015 nuclear deal.
- Adding to that, subdued energy demand in Asian countries due to ongoing lockdowns is also a matter of concern which can ease the oil’s bull run.
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25th May 10:16 AM AEST
CZR Resources (ASX:CZR) starts RC drilling campaign at Buddadoo gold project in WA
CZR Resources (ASX:CZR) has shared that it has commenced an RC drilling campaign of up to 5,000m on seven priority targets along the Salt Creek Shear in the Gullewa Greenstone Belt in WA’s Mid West region.
As per the ASX announcement, all the targets cover a flexure in the regional shear where the geophysical responses outline a variety of favourable sites for gold deposition.
The drilling campaign is likely to get fully accomplished in nearly six weeks.
The stock was spotted trading at AUD 0.014 per share.
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25th May 10:16 AM AEST
CIMIC’s (ASX:CIM) CPB and UGL selected for M6 Motorway, A$1.95 billion revenue to be generated
ASX 200-listed firm CIMIC Group Limited (ASX:CIM) shared an upbeat development that said its CPB Contractors and UGL, in a joint venture with Ghella, have been selected by the government of New South Wales to produce stage 1 of Sydney’s M6 motorway.
The ASX announcement made by the Company stated that the design and construct contract would generate revenue of approximately AUD 1.95 billion to the CIMIC Group companies.
It should be noted that the AUD 2.5 billion M6 Stage 1 will connect Sydney’s south to the city’s more comprehensive motorway network. This will make the journey times much more betterby decreasing the congestion and eradicate huge trucks from local streets.
The last traded price of the ‘giant’ stock was AUD 21.220 per share.
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25th May 09:43 AM AEST
Paradigm Biopharmaceuticals (ASX:PAR) gets feedback from US Food and Drug Administration
Paradigm Biopharmaceuticals Limited (ASX:PAR) shared on 25 May 2021 that it has received written feedback regarding the IND submission for its pivotal study evaluating PPS in knee OA.
FDA’s feedback featured questions mainly related to recently completed nonclinical studies. The agency also provided its suggested mitigation strategies to address its positions and questions, which included further detailed clinical monitoring.
Paradigm will respond to the FDA queries within 30 days. Thereafter, a review and response from the FDA will be due.
The last traded share price of the stock PAR was AUD 2.320 per share.
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25th May 09:39 AM AEST
Tesoro (ASX:TSO) identifies new gold zone from extensional drilling
Tesoro Resources Limited (ASX:TSO), on 25 May 2021, shared assay results from extensional and resource definition drilling from the Ternera Gold Deposit at the Company’s El Zorro Gold Project in Chile.
As per the Company’s release, upbeat results have been received for eleven drillholes at Ternera.
In total, Tesoro has drilled 150 diamond drillholes at El Zorro for 47,208 metres and assays remain outstanding for 35 holes.
The stock TSO traded last at AUD 0.190 per share.
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25th May 09:20 AM AEST
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25th May 08:58 AM AEST
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25th May 08:12 AM AEST