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1^st Jun 05:35 PM AEST

A AU$2.6 million R&D tax incentive for Imagion Biosystems (ASX:IBX)

Imagion Biosystems Ltd (ASX:IBX) shared on 1 June 2021 that it has received its 2020 R&D tax incentive claim of AU$2,612,159 from the Australian Taxation Office.

The release said that this is higher than the AU$2,197,028 received in respect of the 2019 claim and reflects increased R&D spend in 2020 as the Company undertook preparatory activities towards the first-in-human trial of its MagSense® imaging technology in HER2 positive breast cancer patients.

The stock IBX ended today’s session at AU$0.110 per share.

1^st Jun 05:34 PM AEST

Immutep (ASX:IMM) announces alliance with Merck KGaA for Efti

Immutep Ltd (ASX:IMM) on 1 June 2021, announced a new collaboration and supply agreement with Merck KGaA , Darmstadt, Germany for a Phase I/IIa clinical trial in patients with solid tumours, called INSIGHT-005.

As per the announcement, the trial will assess the viability, security and effectiveness of Immutep’s top product candidate, eftilagimod alpha (efti or IMP321), when given in combination with bintrafusp alfa (M7824). This is a new bifunctional fusion protein immunotherapy being mutually created by Merck and GlaxoSmithKline.

The Company’s release read that first patient is likely to be enrolled and dosed in H2 2021.

1^st Jun 04:51 PM AEST

Why Starpharma (ASX:SPL) shares closed higher today?

The share price of the pharma stock Starpharma Holdings Ltd (ASX:SPL) ended a tad bit higher on Tuesday.

The Company announced that its drug SPL7013 has 98% antiviral activity against UK COVID-19 variant – UK SARS-CoV-2 variant.

Starpharma shared SPL7013, the active in VIRALEZE™ antiviral nasal spray, has potent antiviral activity against the UK (B.1.1.7) SARS-CoV-2 variant of concern in laboratory studies, achieving more than 98% reduction in infectious virus in antiviral assays.

The stock SPL ended 0.845% higher at AUD 1.790 per share on Tuesday.

1^st Jun 04:22 PM AEST

Ocean Grown Abalone (ASX:OGA) gains on highest-ever April revenue

Commercial abalone ranching developer Ocean Grown Abalone (ASX:OGA) rose as much as 6.3% to AU$0.085 per share on Tuesday.

The Company stated April's revenue of AU$553,000 is highest monthly sales revenue ever.

About 208,000 shares got traded as compared to the 30-day average volume of about 69,000 shares.

Though, OGA is down 20% this year, as of the last close, on Tuesday, it closed 1.250% up at AUD 0.081 per share.

1^st Jun 04:22 PM AEST

MetalsTech (ASX:MTC) hits over 3-year high on gold find at Slovakia mine

The share price of lithium explorer MetalsTech Limited (ASX:MTC) rose as much as 81.6% to AU$0.345, its highest since 11 December 2017.

The Company stated it has intercepted visible gold in 9 of 16 holes with bonanza hits in 11 out of 16 holes at its fully owned Sutrec Gold mine in Slovakia.

MTC also informed it is completing the construction for the second drill site with phase II drilling at the project commencing in mid-June.

Though the stock is down 7.3% this year, as of the last close, it closed 28.947% higher at AU$0.245 per share on Tuesday.

1^st Jun 04:15 PM AEST

Alicanto Minerals (ASX:AQI) gains on deal to sell Guyana gold project

Gold explorer Alicanto Minerals Ltd (ASX:AQI) gained as much as 4% to AU$0.13 per share.

The Company shared it will be selling its Arakaka Gold Project in Guyana to private Canadian company Virgin Gold Corp for up to C$4.8 million.

AQI is on track to post third consecutive session of gain; up 25% this year, as of the last close.

1^st Jun 02:27 PM AEST

Current account surplus in Australia stands strong at A$18.3 billion: ABS

The Australian Bureau of Statistics (ABS) shared on 1 June 2021 that Australia's current account surplus has risen AU$2.3 billion to a record AU$18.3 billion in the March quarter 2021.

Balance of Payments components

The current account surplus was driven by a record AU$5.2 billion increase in the balance on goods and services surplus.
Exports of goods and services climbed AU$7.8 billion (7%), while imports of goods and services grew AU$2.6 billion (3%).
Net primary income deficit increased by AU$3.1 billion to AU$6.0 billion in the March quarter 2021.
Financial account deficit increased by AU$4.7 billion to AU$15.2 billion.

1^st Jun 02:26 PM AEST

Optiscan Imaging (ASX:OIL) to seek U.S. FDA nod for screening device; shares rise

Microscopic imaging and related technology developer Optiscan Imaging Ltd (ASX:OIL) gained as much as 4.2% to AU$0.375 per share.

The Company stated it is in process of submitting application to U.S. Food and Drug Administration (FDA) 510(k) for market clearance of its 'InVivage' device.

The Company mentioned it has completed multiple internal and external validation requirements for the 510(k) Application at its premises and contract testing facilities in the United States.

InVivage is a device used for oral cancer screening and/or surgery targeting patients with severe health consequences of late-stage diagnosis of oral cancer.

OIL had risen over three-fold this year, as of the last close and was spotted trading at AU$0.365, 1.388% up at 2:00 PM AEST.

1^st Jun 02:26 PM AEST

Vonex (ASX:VN8) nears 4-month high on customer, order growth

Shares of Vonex Limited (ASX:VN8) rose as much as 33.3% to AU$ 0.160, marking their biggest intraday percentage gain since 5 February 2021.

The telecom firm stated as at 31 May, SME customers were up 27%; secured 45,000 active private branch exchange users during the period.

VN8 says National Broadband Network orders with 4G backup grew 95% year-on-year in FY21 to date.

The Company stated 5G services launch is now imminent, having been selected by Optus as key 5G partner.

The stock has hit its highest since 6 May.

The stock is down 48.9% this year, as of the last close.

1^st Jun 01:10 PM AEST

Dwelling approvals fall, but private houses reach new high: ABS

As per the latest statistics by the Australian Bureau of Statistics, the number of dwellings approved fell 8.6% in April, following an 18.9% rise in March. ABS shared the data on 1 June 2021.

The ABS data suggested that the fall in the total number of dwellings approved in April was driven by private sector dwellings excluding houses, which fell 28.6%.

The value of total building approved decreased 22.6%.

1^st Jun 12:56 PM AEST

1^st Jun 12:45 PM AEST

archTIS (ASX:AR9) partners with Thales and Microsoft to launch NDC Edge, shares zoom up

Software solutions firm archTIS Limited (ASX:AR9) shared that the company has entered a partnership with Thales Australia, Microsoft, and Australian SMEs Myriad Technologies and FortifyEdge to launch Nexium Defence Cloud Edge (NDC Edge).

The NDC Edge solution gives a secure Tactical cloud computing capability at the edge of the battlespace and includes archTIS’ Kojensi platform to provide Australian Sovereign technology for highly secure sensitive/classified information collaboration and sharing.

The share price of the stock AR9 was quoted at AU$ 0.275 per share, up 14.583% at 12:30 PM AEST.

1^st Jun 12:42 PM AEST

Montem Resources (ASX:MR1) moves closer to Alberta mine restart, shares jump

Shares of Montem Resources Ltd (ASX:MR1) gained as much as 4.6% to AU$ 0.091 on 1 June 2021.

The Coal mine developer informed it has received final terms of reference for environmental impact assessment on its proposed Tent Mountain hard coking coal mine in Alberta.

The Company added it is targeting production from the mine in 2023.

The stock has lost ~63% this year, as of the last close.

1^st Jun 12:32 PM AEST

Australia's Namoi Cotton (ASX:NAM) appoints CEO, shares rise

Shares of Namoi Cotton Ltd (ASX:NAM) gained as much as 1.4% to AU$ 0.355 per share on Tuesday.

The cotton processing firm shared it has appointed John Stevenson as its chief executive officer, effective from 7 June.

Stevenson has been the acting CEO following the resignation of the former chief executive on 10 February.

The Company added that Stevenson will vacate the role of CFO, which he was appointed to in March 2020.

The stock is up 18.6% this year, as of the last close.

1^st Jun 12:31 PM AEST

Miners outperform Australia benchmark as iron ore rally lifts BHP, RIO

Australia's metals and mining index AXMM jumped 1% to a near two-week high as broader market AXJO eases 0.3%.

Steel and iron ore futures in China continued their rebound after a massive slump caused last month by the top metals consumer threatening more oversight on price regulations.

Most-traded Dalian iron ore for September delivery DCIOCV1 rises over 4%.

World's biggest iron ore miner Rio Tinto (ASX:RIO) climbed 1.3%, on its way to end higher for a fourth day.

Rio's rival BHP Group Limited (ASX:BHP) added 1.1%, while Fortescue Metals Group Limited (ASX:FMG) climbed 3.7%.

FMG was among top gainers in the benchmark index AXJO.

AXMM up for fourth day; gained ~10% this year, as of the last close.

1^st Jun 12:17 PM AEST

Infomedia (ASX:IFM): RBC calls FY outlook 'better than feared', shares jump

Shares of Infomedia Ltd (ASX:IFM) rose as much as 13.7% to AU$ 1.54, their biggest intraday percentage gain since 24 March 2020.

Software provider shared it anticipates final revenue of AU$ 95 million – AU$ 96 million and cash EBITDA of AU$19 million - AU$20 million for FY21.

The Company shared organic growth in IFM's core parts and SaaS platform has picked up since December, particularly in Q4.

RBC brokerage noted that the trading update, albeit a slight miss, is likely to be seen as "better than feared", particularly given the FX headwinds.

The Stock has fallen 29.8% this year so far, as of the last close.

1^st Jun 11:42 AM AEST

1^st Jun 11:30 AM AEST

Independent trials prove Noxpharm (ASX:NOX) Veyonda as Anti-Cancer Drug; Shares up 22%

Noxopharm Limited (ASX:NOX) recently published its new independent clinical trial. The trials support NOX’s aim for Veyonda to become a standard companion drug for primary anti-cancer therapies.

The WARMTH (World Association of Radiopharmaceutical and Molecular Therapy) study is the first reported large-scale multi-national study of Novartis experimental drug. The key outcome of the WARMTH study is a median overall survival outcome of 11.6 Months. Similar patient disease status was observed in Lupin’s trials a part of the Noxopharm ‘Four-Pillars’ oncology program.

Results support NOX’s belief that Veyonda has the potential to become a standard of care drug for most anti-cancer treatments.

NOX shares traded at AUD 0.700 at 11:15 AM AEST.

1^st Jun 11:25 AM AEST

Ingenia Group (ASX:INA) launches first-ever Residential funding platform for land lease communities

Ingenia Communities Group (ASX:INA) has announced a first-ever funding solution for prospective residents to land lease communities, established by fintech startup Land Lease Home Loans.

As per the ASX release, Ingenia will provide seed capital and initial funding for loans (AU$3 million) to new residents in Ingenia’s communities.

Land Lease Home Loans will initially launch their offer with Ingenia’s communities. Ingenia has worked closely with Land Lease Home Loans over the past 18 months to establish the business.

INA Group CEO, Simon Owen, said he was pleased to finally see a finance solution made available to residents of land lease communities. INA has seen tremendous success in this market in the US. According to him, it shall be the natural next step in the growth of the land lease sector in Australia.

INA shares traded at AUD 5.540 at 11:00 AM AEST.

1^st Jun 11:15 AM AEST

Adavale (ASX:ADD) obtains Ruiza North East Licence, shares gain

Adavale Resources Limited (ASX:ADD) obtained the Ruiza North East (NE) license, the Company informed on 1 June 2021.

Ruiza NE covers a standout nickel sulphide target comparable to Kabanga Nickel Deposit. Ruiza NE has increased the number of licences in Adavale’s nickel sulphide portfolio to 7. It is one of the most exciting nickel sulphide exploration targets in the entire Karagwe-Ankole Belt.

ADD shares traded at AUD 0.089 at 10:59 AM AEST, up 1.13%.

1^st Jun 11:13 AM AEST

Orion (ASX:ORN) signs MOU with South African Council for Geoscience on Northern Cape exploration initiatives

Orion Minerals Limited (ASX:ORN) shared on Tuesday it will be collaborating with the South African Council for Geoscience to advance the geological understanding of the Northern Cape, South Africa.

As per the ASX announcement, studies are aimed at stimulating greenfields exploration in an underexplored territory.

The firm stated that the focus is to apply modern exploration techniques, including geophysics, geochemistry and remote sensing. The primary purpose is to enable a two-way flow of knowledge, information and collaborative research for unlocking a new generation of mineral discoveries in the Northern Cape Province.

ORN shares traded at AUD 0.035 on 1 June, 10:35 AM AEST.

1^st Jun 11:09 AM AEST

Oklo (ASX:OKU) reports further success from regional drilling at Kandiole

Oklo Resources Limited (ASX:OKU) shared reported today highly encouraging assays results from the first pass, shallow aircore drilling at its 100%-owned Kandiole Project in west Mali, Africa.

Key Highlights-

Potential new gold discovery at Kandiole, within Oklo’s flagship Dandoko Project.
Extensive near-surface gold mineralisations found in three 200m-spaced drill traverses.
Follow up results include, 3m at 4.81g/t, 4.24g/t, 3.92g/t and 1.81g/t gold. It also has 6m at 1.29g/t, 1.38g/t gold and 12m at 0.45g/t gold.
Mineralisation is parallel to previously defined auger gold anomaly.
Follow-up infill auger drilling is underway to assist in defining the extent of the new target.

OKU shares traded at AUD 0.120 on 1 June, 10:35 AM AEST, down 4%.

1^st Jun 10:57 AM AEST

Oil gallops near US$70 on the back of robust demand outlook

Crude oil prices galloped near US$ 70 per barrel on Monday over positive optimism that the demand will grow in the next quarter.

Brent crude oil for August delivery traded 0.19% up at US$ 69.44 per barrel whereas WTI crude oil futures for July delivery traded at US$ 67.03 per barrel, up 1.07% as of 1 June 2021 at 10:08 AM AEST.
Demand for Oil is growing across the world despite ongoing travel restrictions in some parts of the world. Market analysts expect that rising oil demand will surpass supplies even after the addition of Iranian oil.
Iran has been in talks with leading world powers to waive off the US sanctions imposed on the country so that it can add oil supplies to the market.
The Organization of the Petroleum Exporting Countries and allies together known as OPEC+ are expected to meet today to discuss the plans to gradually increase production until July.

1^st Jun 10:48 AM AEST

Talga Group (ASX:TLG) rises on positive feasibility study for anode production

The share price of battery anode maker Talga Resources Limited (ASX:TLG) gained as much as 8.8% to AU$ 1.725 per share.

The Company stated a feasibility study found it is technically and economically feasible to refine and produce Company’s anodes in the UK.

The stock has posted its biggest intraday percentage gain since 30 April 2021.

The Stock has fallen 2.2% this year, as of the last close.

1^st Jun 10:44 AM AEST

Atlas Arteria (ASX:ALX): Jefferies initiates with 'hold', says French toll roads are the best path

Brokerage firm Jefferies has initiated infrastructure developer Atlas Arteria (ASX:ALX) with a "hold" rating, with the price target at AU$ 6.42 per share, as per the refinitiv data.

The brokerage expects recovery in traffic on French toll roads and others in Europe to 2019 levels through 2021, before returning to growth in 2022.

Jefferies added it sees a medium-term opportunity in using current balance sheet for new French road projects.

It added the financial structure of France's second largest toll road network, APRR, in which the Company holds a 31.1% stake in, is expected to remain sub-optimal.

As per the refinitiv data, five of seven analysts rate the stock "buy" or higher, and two rate "hold", with their median PT being AU$ 6.45.

The stock has lost 5.8% this year so far, as of last close and is currently trading at AU$ 6.120 per share.

1^st Jun 10:19 AM AEST

Nine Entertainment (ASX:NEC) signs agreements with Facebook and Google

Nine Entertainment Co Holdings Ltd (ASX:NEC) shared on 1 June 2021 that it has signed agreements with Facebook and Google, following the Commonwealth Government’s enacting of the News Media Bargaining Code.

The deal with Facebook is for the supply of news video clips and access to digital news articles on Facebook news products, for a term of up to 3 years.

The 5-year agreement with Google includes the supply of news content (excluding video) for Google’s News Showcase and other news products.

Nine expects growth in the Publishing division’s EBITDA in FY22 (over FY21) in the range of AU$ 30 million to AU$ 40 million.

The stock NEC traded last at AU$ 3.040 per share, up 2.356% with a market capitalisation of AU$ 5.06 billion at 10:30 AM AEST.

1^st Jun 10:10 AM AEST

Pilot Energy (ASX:PGY) completes Royal Energy acquisition, makes changes to executive team

Pilot Energy Limited (ASX:PGY) announced on Tuesday that the acquisition of 100% of the issued share capital in Royal Energy Pty Ltd (Royal Energy) has been completed.

As per the Company’s ASX announcement, Pilot has issued a total of 143,900,000 shares in the Company to the Royal Vendors and advisers to the transaction RFC Ambrian Limited, collectively representing no more than 38.3% of all the Pilot shares on issue.

Pilot now owns a 21.25% indirect economic interest in the Cliff Head Oil Field Joint Venture and associated infrastructure and assets through Royal Energy’s 50% interest in Triangle Energy (Operations) Pty Ltd, the Cliff Head Oil Field Joint Venture Operator.

Pilot also shared that Tony Strasser (CEO and Managing Director, Royal Energy) will become the Managing Director of the Company.

The last traded share price of the stock was AU$ 0.082 per share.

1^st Jun 10:08 AM AEST

Peter Warren Automotive (ASX:PWR): Jefferies sees runway of M&A opportunities, begins with 'buy'

Financial research brokerage firm Jefferies has commenced coverage on Peter Warren Automotive Holdings Ltd (ASX:PWR) with a 'buy' rating and a price target of AU$ 4.20 per share.

The brokerage sees long term deal-making opportunities ahead for the auto dealer due to its access to capital.

Jefferies expects PWR to increase its market share five-fold to 10% over time. It stated that Company’s management is experienced in the industry, which will be beneficial if PWR decides to pursue an acquisition.

Jefferies also expects tight supply issues to lower PWR's currently elevated gross margins level but sees significant potential from M&A options.

PWR posted a full year profit guidance of about AU$ 54 million - AU$ 57 million a week ago.

The stock has risen around 4% since its IPO debut just over a month ago on 27 April and had traded last at AU$ 3.600 per share.

1^st Jun 10:01 AM AEST

Jefferies upgrades rating on DEXUS (ASX:DXS) to 'Buy', raises Price Target

Financial research firm Jefferies has upgraded rating on real estate manager DEXUS Property Group (ASX:DXS) to ‘Buy’ from ‘Hold’, and has increased the price target to AU$ 11.55 from AU$ 10.79 earlier.

DXS on Monday said it expects its FY21 distribution per security (DPS) to be about 3% higher than its FY20 DPS of 50.3 Australian cents, as a "result of better-than-expected outcomes across the underlying property portfolio".

The Brokerage stated upgraded outlook demonstrates "improving office fundamentals and the resilience of its industrial & funds management business".

Jefferies also said that additionally their channel checks suggest strong demand remains for prime office assets with improving office utilisation and fundamentals as the WFH (work from home) thematic wanes.

As per the refinitiv data, 7 of 12 analysts rate the stock "buy" or higher, 3 "hold" and 2 "sell" or lower; their median PT is AU$ 10.6.

The stock has risen 11% this year, as of the last close.

DXS traded last at AU$ 10.430 per share.

1^st Jun 09:28 AM AEST

1^st Jun 08:47 AM AEST

1^st Jun 08:41 AM AEST

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