Live ASX News Today
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4th Jun 04:56 PM AEST
Keypath Education (ASX:KED) extends losses into 3rd session after Australia debut
Chicago-based education technology Company Keypath Education International INC. (ASX:KED) extended losses into a third session after its debut drop on Wednesday.
The online course provider closed today’s session down 7.143% at AU$3.250 per share, almost 12.7% below its IPO price of AU$3.71.
It follows a string of poor performances by newly-listed companies of late.
Almost ~45% of KED's revenue comes from Australia, where universities are under intense pressure from border closures due to the pandemic that has made it difficult for international students - a key source of income - to return.
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4th Jun 04:09 PM AEST
Pacific Nickel Mines (ASX:PNM) jumps on drilling start in Solomon Islands
Shares of Pacific Nickel Mines Limited (ASX:PNM) jumped as much as 10% to AU$0.055, on track for best day since 13 May.
Nickel explorer stated it has started drilling at its Kolosori Nickel Project on Isabel Island in the Solomon Islands.
The Company stated metallurgical test work will be undertaken at ALS labs in Brisbane to confirm historical information that Kolosori material is a high-quality DSO (direct shipping ore) product.
Stock is up 4.2% this year, as of the last close.
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4th Jun 04:08 PM AEST
BetMakers (ASX:BET) down 35% since A$4 billion bid for Tabcorp unit
BetMakers Technology Group (ASX:BET) shares were down 35% from May 28 when it offered AU$4 billion for Tabcorp Holdings' (ASX:TAH) wagering and media unit.
The market now values BET at close to AU$890 million.
The Company has planned to pay for the deal through AU$3 billion in new shares to TAH and AU$1 billion in cash, likely raised through debt.
The new shares will be priced at a 15% premium to the BET's trading price before the signing.
TAH has yet to form a view on the proposal but is also considering a demerger of the business.
British sports betting firm Entain and Apollo Management have also made AU$3.5 billion bids for TAH’s unit.
Short positions on BET have risen to 1.8% by May-end from 0.5% at start of the month, as per the ASIC data.
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4th Jun 03:33 PM AEST
Cipherpoint (ASX:CPT) hits 1-month high on upbeat business outlook
Shares of Cipherpoint Limited (ASX:CPT) jumped as much as 10% to AU$0.033, their highest since 4 May 2021.
Based on the current outlook, the data security services provider said its target is to reach AU$3 million in annualised revenue run rate by the end of September.
The Company said the sales pipeline is strong and continues to grow every quarter, indicating increasing demand for cybersecurity.
Though the stock is down 35.4% this year, as of the last close, it was trading at AU$0.031 per share, up 3.333% at 3:20 PM AEST.
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4th Jun 03:02 PM AEST
BARD1 Life Sciences (ASX:BD1) faces legal proceedings, shares at near 4-month low
The shares of BARD1 Life Sciences Limited (ASX:BD1) fell as much as 11.2% to AU$1.945, their lowest since 12 Feb 2021.
The Company stated it has received particulars of their alleged loss and damaged relating to the claims filed by plaintiffs earlier in February.
The plaintiffs, who also are the founders and major shareholders of Company’s unit - BARD1AG SA, filed a statement of claim in the Supreme Court of Victoria against BARD1 in relation to the performance shares of the Company issued to them after buying the unit in 2016.
BD1 stated the calculations derive a very "significant" amount of claimed loss and damage and added it will continue to dispute the basis of the claim.
The stock is up more than double this year as of the last close.
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4th Jun 02:56 PM AEST
Decmil Group (ASX:DCG) tumbles on downgrading FY21 revenue forecast
Shares of Decmil Group Limited (ASX:DCG) fell as much as 4% to AU$0.480, their lowest since 11 September 2020.
The Company has downgraded its annual FY21 revenue forecast to be in the range of AU$300 million to AU$320 million after previously anticipating revenue of around AU$360 million.
The Company said the reduction in revenue was due to COVID-19- related impacts delaying award of numerous contracts DCG had tendered for until FY22.
However, the firm expects FY21 EBITDA to be in the range of AU$6 million to AU$10 million after having reported a loss of AU$140 million in the previous year.
The stock marks the biggest intraday percentage fall since 5 March.
The stock is down 20.6% this year so far, as of the last close.
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4th Jun 02:15 PM AEST
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4th Jun 01:40 PM AEST
KIN Mining NL (ASX:KIN) confirms potential at Mount Flora
Kin Mining NL (ASX:KIN) reported encouraging assay results from the recently completed air-core (AC) drilling program at the Mount Flora prospect. It is located 20km from its 100%- owned Cardinia Gold Project (CGP) near Leonora in Western Australia.
The latest results build on those reported last week, including an outstanding high-grade intercept from drill-hole. The latest results include intercepts of 8m @ 1.04g/t Au and 4m @ 1.17g/t Au.It shall help KIN to delineate additional mineralised trends in the northern portion of the project.
The Mount Flora program comprised 269 drill holes for targeting several gold-in-soil anomalies, and results have confirmed the presence of several mineralised trends. Multi-element assays are still pending for the bottom-of-hole samples for all 269 holes.
KIN shares traded at AUD 0.135, down 3.572% at 1:30 PM AEST.
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4th Jun 01:39 PM AEST
Accelerate Resources (ASX:AX8) soars on HOA with Stunalara Metals
Shares of Accelerate Resources Limited (ASX:AX8) jumped as much as 18% to AU$0.046 on Friday.
The Cobalt and gold explorer says it executed a Heads of Agreement (HOA) with precious and base metals explorer Stunalara Metals Ltd, granting an option to acquire a 100% stake in Company's non-core Mt Read Project in Tasmania.
AX8 said that upon the exercise of the Option, Stunalara would be issuing fully paid ordinary shares worth AU$1 million to Accelerate Resources.
The stock has fallen 32.8% this year, as of the last close and was spotted trading 2.564% higher at AU$0.040 per share at 1:20 PM AEST.
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4th Jun 01:26 PM AEST
Magnis Energy (ASX:MNS) climbs as NY unit produces first lithium-ion battery
Shares of graphite producer Magnis Energy Technologies Limited (ASX:MNS) rose as much as 8.6% to AU$0.315, their highest since 19 May 2021.
The Company said energy storage systems provider Imperium3 New York, in which MNS has a 63% stake, produced its first full sized prismatic lithium-ion battery cells ahead of schedule.
The products are still to undergo limited testing and customer sampling in Q3 2021, informed MNS.
The stock MNS is on track for third consecutive session of gains and is up 45% this year, as of the last close.
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4th Jun 01:25 PM AEST
Resonance Health (ASX:RHT) loses most in over one year after CEO resigns
Shares of Resonance Health Ltd (ASX:RHT) fell as much as 18% to AU$5.129, their biggest one-day percentage loss since February 2020.
The Company informed Chief Executive Officer Alison Laws has resigned due to personal reasons.
The medical imaging software developer added that it obtained regulatory clearances for two new medical devices that use artificial intelligence.
RHT shares at their lowest level since 12 March.
The stock is down 18.8% this year so far, as of the last close.
At around 1:20 PM AEST, the stock was trading 5.129% down at AU$0.185 per share.
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4th Jun 01:09 PM AEST
Australia's Stealth Global Holdings (ASX:SGI) hits near four-month peak on Skipper Transport Parts buy
Shares of the industrial tools distributor Stealth Global Holdings (ASX:SGI) rose as much as 31.6% to AU$0.125, their highest since 11 February 2021.
The Company stated its unit has reached agreement to acquire Skipper Transport Parts, a distributor of industrial maintenance and repair products.
The acquisition is for AU$4.2 million, SGI informed.
The stock has posted its biggest intraday percentage gain since 11 February.
Though the stock has fallen 5% this year so far as of the last close, it was trading 10.526% higher at AU$0.105 per share at 1:00 PM AEST.
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4th Jun 01:08 PM AEST
Gascoyne (ASX:GCY) plummets on flagging June quarter hit from resourcing shortage
Shares of Gascoyne Resources Ltd (ASX:GCY) fell as much as 18.5% to AU$0.440, their biggest intraday percentage loss since 1 April 2019.
The Gold explorer said June quarter 2021 production is likely to be lower than the March quarter as a result of several adverse weather events and resourcing challenges.
The Company stated resourcing shortages and confined work areas in Stage 1 have affected mining productivity in the quarter to date and adversely impacted the completion of mining Stage 1 ore of Gilbey's Main Zone.
The stock is trading at its lowest since 4 January 2021.
However, stock has revised FY21 gold production forecast to 76,000 and 78,000 ounces, the upper end of original guidance range of between 70,000 and 80,000 ounces.
The stock is up 25.6% this year, as of the last close.
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4th Jun 01:02 PM AEST
BlueScope Steel, Sims: Citi hikes Price target as commodity prices hit record peak
Financial research firm Citi has hiked the price targets on BlueScope Steel Ltd (ASX:BSL) and Sims Ltd (ASX:SGM) as steel and scrap prices continue to move higher, with the former hitting a record high on sustained China demand.
Citi stated BSL is building cash fast and can improve earnings through its North Star expansion and upgraded China-focused steel producer to "buy" from "neutral".
As per the refinitiv data, BSL Price Target has jumped 13% to AU$25 and Citi expects the Australia-based firm to exercise extensive scale capital management within two years.
Citi also mentioned that declining China steel exports would further improve spreads prospects for Australian steel exports.
The Brokerage has raised the PT on U.S.-based Sims marginally to AU$18 but remains "neutral", says the metals recycling Company will benefit from improving scrap prices in the world's top economy, as per the refinitiv data.
BSL shares were trading up 1.651%, while SGM is up 0.061% at 12:50 PM AEST.
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4th Jun 12:48 PM AEST
Reject Shop (ASX:TRS) hits over one-year low on weak sales outlook
Shares of retailer The Reject Shop Limited (ASX:TRS) fell as much as 15% to AU$5.37, their lowest since 29 May 2020.
The Company has forecasted fiscal 2021 sales of AU$776 million - AU$778 million, down from AU$820.6 million a year earlier.
TRS stated coronavirus restrictions have continued to impact sales, trading well below pre COVID-19 levels.
The stock has posted biggest intraday percentage fall since 19 August 2020.
The stock is down 8.3% this year, as of the last close and was trading 7.912% lower at AU$5.820 per share at 12:20 PM AEST.
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4th Jun 12:48 PM AEST
MLG Oz (ASX: MLG) hits record low on prospects of tepid H1 revenue outlook
Shares of MLG Oz Ltd (ASX:MLG) slumped as much as 14.9% to AU$1.085 to their lowest on record since its IPO on 4 May 2021.
The supply chain solutions provider stated lack of processing material will negatively impact the crushing and screening revenue in the first half of FY2022.
The Company added that its crushing and screening operations have experienced a reduction in available material to process from several clients across the last quarter of FY2021.
Board expects the overall impact of this to be mitigated in the second half of FY2022, said MLG.
The stock is on track for its third session of losses.
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4th Jun 12:46 PM AEST
Adslot (ASX:ADS) hits over one-month high on deal with NY media firm
Shares of media and advertising firm (ASX:ADS) rose as much as 7.1% to AU$0.030, their highest since 5 May 2021.
Adslot has executed a marketplace agreement with New York-based media investment company, GroupM.
The Deal will be providing GroupM a white-labelled instance of the Adslot Media platform, shared ADS.
The financial details of deal are undisclosed as of now.
The stock has posted its biggest intraday percentage gain since 20 May 2021.
ADS stock is flat this year so far, as of last close and was spotted trading 3.571% up at AU$0.029 per share at 12:15 PM AEST.
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4th Jun 12:21 PM AEST
Volt Resources (ASX:VRC) draws US$4 Million after Execution of Loan Facility Agreement
Volt Resources Limited (ASX:VRC) executed a loan agreement for US$8.5 million with European investment company JES Green Investments.
US$4 million in funds has been drawn at present, to be used for the initial payment of US$3.8 million to acquire a 70% controlling interest in the ZG Group. Completion of the acquisition is expected in the week commencing 7 June 2021. The second tranche of US$4 million will be available from 10 June 2021 to meet transaction costs and provide working capital.
The acquisition transforms Volt into one of the few ASX listed graphite producers without the usual time and risk related to complete greenfield project financing, construction, commissioning and ramp-up.
VRC shares traded 6.250% up at AUD 0.034 on 4 June, 11:50 AM AEST.
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4th Jun 12:21 PM AEST
Mako’s (ASX:MKG) Tchaga continues to expand with further High-grade results
Mako Gold Limited (ASX:MKG) has received the assay results for additional reverse circulation (RC) and diamond drilling (DD) holes from the drilling program at the Tchaga Prospect in Côte d’Ivoire.
The current results include 17m at 3.06g/t Au in NARC404DD and 9.85m at 6.63g/t Au in NARC419DD. It validates MKG’s systematic approach of infill drilling and drilling along-strike and down-dip of previously identified mineralised lodes. It increases the targets of existing and new strikes for delivering a significant Maiden Mineral resource estimate later this year.
Evidence of new lodes to the north and south of known mineralisation warrant follow-up drilling has been mentioned in the release.
MKG shares traded at AU$ 0.924, up 2.173% at 12:00 PM AEST.
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4th Jun 11:50 AM AEST
Blockades at Colombia’s Cerrejon halts mine operations again
Source: © Teprzem | Megapixl.com
The operations at Colombia’s Cerrejon coal mine have been blocked again on Thursday due to the latest protest by the former workers of the mine.
- The mine is jointly owned by BHP Group, Anglo American, and Glencore. The miners had faced repeated disagreements from the nearby indigenous community, Wayuu, responsible for last year's three-month strike.
- The miners halted the operations during May last and declared force majeure because of the two blockades at the mine site, which restricted the gasoline supplies.
- One blockade was mounted by a group of former workers who were upset by the job cuts in the company, and another group from the indigenous community was unhappy with the environmental pollution created by coal mining in the area.
- The mine produced 12.4Mt coal in 2020 that is about 52% less than 2019’s production figures.
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4th Jun 11:38 AM AEST
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4th Jun 11:30 AM AEST
DroneShield (ASX:DRO) jumps on A$3.8 million military contract
Shares of DroneShield Limited (ASX:DRO) soared as much as 12.1% to A$0.185, their biggest intraday percentage gain since 13 April 2021.
The drone security tech provider has grabbed a 2-year contract worth AU$3.8 million with the military of a key Five Eyes country.
The Company stated ~AU$2 million of total cash receipts under contract is scheduled for June and September 2021 quarters.
Though the stock is down 2.9% this year so far, as of last close, it was trading 6.060% higher at AU$0.175 per share at 11:20 AM AEST.
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4th Jun 11:25 AM AEST
Australian miners slump on plunging copper prices, underperform ASX 200
Shares of the Australian mining sub-index AXMM shed up to 2.5% to post its biggest intraday loss since 19 May 2021.
The copper prices have plunged as strong U.S. jobs data fuelled concerns that monetary policy could tighten, knocking growth-related assets.
Benchmark copper CMCU3 on the London Metal Exchange (LME) was down 3.1%.
Heavyweight miners Rio Tinto (ASX:RIO, BHP Group Limited (ASX:BHP) and Fortescue Metals Group Limited (ASX:FMG) all down over 2%.
AXMM up 12.9% this year, as of the last close, compared with a 10.2% increase in the S&P/ASX 200 index.
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4th Jun 11:17 AM AEST
ioneer Ltd (ASX:INR) drops as proposed U.S. lithium plant faces green hurdle
The shares of lithium and boron explorer ioneer Ltd (ASX:INR) fell as much as 19.079% to AU$0.307 at 11:00 AM AEST on Friday.
The progress of Company’s proposed Rhyolite Ridge lithium mine in the U.S. likely to be affected due to an environmental decision, INR shared.
U.S. Fish and Wildlife Service proposes listing Tiehm's buckwheat flower, a rare plant found at INR's site, as an endangered species/
Fish and Wildlife Service says impact of mining on the rare plant "would be permanent and irreversible".
Designation does not immediately block project, but could impede permitting and financing efforts.
The stock has risen 35.7% this year so far, as of the last close.
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4th Jun 11:12 AM AEST
Anax (ASX:ANX) signs Whim Creek Royalty Agreement with Anglo American
Anax Metals Limited (ASX:ANX) shared on Friday that it has entered into a binding royalty agreement with Anglo American Marketing Limited, a subsidiary of Anglo American Plc, for the development of the Whim Creek Project.
The Agreement provides for an immediate payment to ANX US$2 million (AU$2.6 million) in consideration of a 1% Net Smelter Return from Anax production from the Whim Creek Joint Venture.
As per the release, Anax has earned an 80% interest in the Project. The payment would provide Anax with further capital for early-stage development activities, exploration and capacity to assess further opportunities under the Anax strategy.
Meanwhile, the stock ANX was trading at AU$0.098 per share, down 2% at 11:00 AM AEST.
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4th Jun 11:06 AM AEST
Aussie gold stocks set to post worst day in over a month as bullion prices slip
Shares of gold stocks AXGD dragged as much as 3.8%, eyeing their biggest intraday percentage loss since 28 April.
AXGD on track to post a four-day losing streak.
Gold prices slid on Thursday as better-than-expected U.S. employment and service sector data propelled the dollar higher.
Aussie gold stocks are set to snap their two consecutive weekly gains.
Sector heavyweight Newcrest Mining Limited (ASX:NCM) declined as much as 3.1%, its lowest since 27 May 2021.
Silver Lake Resources Limited (ASX:SLR) and West African Resources Limited (ASX:WAF) plummeted as much as 7.7% and 7.8% respectively.
AXGD has risen 2.3% this year, as of the last close.
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4th Jun 11:02 AM AEST
Oil prices inched higher on falling US crude inventories
Source: © Emeraldgreen | Megapixl.com
Crude oil prices inched higher on Thursday recording the second consecutive daily rise on the back of an abrupt fall in US crude inventories.
- August delivery Brent crude oil futures traded flat at US$71.40 per barrel while WTI crude oil futures for July delivery traded 0.04% down at US$68.78 per barrel as of 4 June 2021 at 10:00 AM AEST.
- US crude inventories tumbled by 5.1 million barrels in the last week, a more than expected fall of 2.7 million barrels whereas gasoline and distillates stocks jumped by 1.5 million barrels and 3.7 million barrels respectively.
- The crude oil prices have been fuelled on expectations from forecasters including OPEC, stating that the demand will surpass the supply during the second half of 2021.
- The slowdown in talks of the revival of the 2015 US-Iran Nuclear deal has reduced the expectations of oil supplies from Iran which also supported the oil price hike.
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4th Jun 10:59 AM AEST
Citi hikes Bluescope Steel’s (ASX:BSL) price target as commodity prices hit record high
Financial research firm Citi has upgraded steel producer BlueScope Steel Limited (ASX:BSL) to "buy" from "neutral" and has hiked price target to AU$25.00 from AU$22.00, as per the Refinitiv data.
Citi stated BSL is building cash fast and can improve earnings through its North Star expansion, benefiting from spot steel prices surging to record highs.
It expects BSL to look for large scale capital management within 2 years.
Citi said declining China steel exports will improve spreads prospects for Australian steel exports.
The brokerage has also raised BSL's FY22 EBIT forecast by 40% to AU$2.86 billion and FY23 EBIT forecast by 22% to AU$1.57 billion.
BSL stock has added 24.7% this year, as of the last close as was trading at AU$21.780 per share at 10:35 AM AEST.
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4th Jun 10:44 AM AEST
Noxopharm (ASX:NOX) set to benefit from Novartis ASCO Data
Noxopharm Limited (ASX:NOX) shared on 4 June 2021 that Novartis experimental drug, 177Lutetium-PSMA-617, is all set to become an important new treatment for late-stage prostate cancer on the basis of Phase 3 clinical trial data released overnight by the Company.
Noxopharm shared it has welcomed this outcome given its recent LuPIN trial data showing even stronger survival outcome when 177Lutetium-PSMA-617 is combined with Veyonda.
The Company stated that now it has this chance to help grow the market for 177Lutetium-PSMA-617 and potentially radioligand therapy more broadly.
As per the ASX release, the data is being presented to the Annual Conference of the American Society of Clinical Oncology (ASCO), the foremost cancer conference in the world.
Riding high on the announcement, the Company stock was spotted trading 2.142% higher at AU$0.715 per share at 10:40 AM AEST.
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4th Jun 10:32 AM AEST
Cirralto (ASX:CRO) completes acquisition of Appstablishment
Cirralto Limited (ASX:CRO) announced on 4 June 2021 that it has acquired Appstablishment Software Group Pty Ltd, Cirralto’s long-term licensing and collaborative partner.
The merged entity, trading under Cirralto Limited, will utilise the software and integration framework developed by Appstablishment, coupled with its own payments technology in order to improve business efficiency while providing access to increased payment options so they can get paid quicker and better manage their cash flow.
The stock CRO was spotted trading 0.847% higher at AU$0.059 per share at 10:20 AM AEST.
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4th Jun 10:01 AM AEST
CIMIC’s (ASX:CIM) CPB confirmed for A$150 million Sydney CBD Tower
CIMIC Group Limited’s (ASX:CIM) company CPB Contractors has been confirmed as the builder of the first build-to-rent residential tower to be constructed in Sydney’s central business district, over Sydney Metro’s new Pitt Street Station, the Company announced.
The design and construct contract for the tower was awarded by Pitt Street Developer South Pty Ltd and will generate revenue of approximately AU$150 million to CPB Contractors.
The ASX announcement said that work on the station above which this tower will be built is already underway, with the NSW Government has awarded the AU$463 million station contract to CPB Contractors in 2019.
Meanwhile, the share price of the stock traded last was A$21.350 per share.
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4th Jun 09:49 AM AEST
Ovato (ASX:OVT) to sell complete retail distribution to Are Media
Ovato Limited (ASX:OVT) shared on 4 June 2021 that the Company has entered into a binding sale agreement to sell the entire issued share capital of each of Ovato Retail Distribution pty Ltd and Ovato Retail Distribution NZ Limited to Are Media Limited.
The consideration for the transaction comprises a headline purchase price of AU$15 million in cash and the acceptance of a negative working capital position of approximately AU$27 million.
As per the ASX announcement, Are media is a 16.4% shareholder of Ovato.
Also, the Company shared on Friday that Kevin Slaven will b stepping down as CEO and Managing Director and remain in business until the end of June.
James Hannan, currently Chief Operating Officer with over 18 years of experience, has been appointed as the new CEO and MD effective immediately.
The last traded price of the stock on ASX was AU$0.004 per share.
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4th Jun 09:23 AM AEST
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4th Jun 08:50 AM AEST
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4th Jun 08:45 AM AEST