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Sovereign Metals (ASX:SVM) at a record high, says Malawi rutile project among world's largest
Sovereign Metals Limited (ASX:SVM) gained as much as 14% to AU$0.775, hitting a record high on Wednesday.
The diversified miner said a maiden mineral resource estimate showed the Company's flagship Kasiya project in Malawi as one of the largest natural rutile deposits in the world.
The Company added that all mineralisation at the project occurs in a single, large deposit with much of the high-grade material within the top 5 metres of the surface.
Rutile is a mineral composed primarily of titanium dioxide.
The stock is up 83.8% this year as of the last close and was spotted trading at AU$0.755 per share, up 11.029% at 3:00 PM AEST.
Prairie Mining (ASX:PDZ) rises on A$1.16 billion compensation claim against Poland
Shares of Prairie Mining Ltd (ASX:PDZ) rose as much as 18.181% and reached the level of AU$0.260 per share on Wednesday.
The coal producer has filed a claim against the Republic of Poland under the Energy Charter Treaty (ECT) and the Australia-Poland Bilateral Investment Treaty.
PDZ has claimed about AU$1.5 billion, citing that Poland breached its obligations under the Treaties to block the development of the Company’s Jan Karski and Debiensko mines in the country.
PDZ added the Republic of Poland's actions had deprived the Company of the entire value of its investments in the country.
The stock is up 22.2% this year, as of the last close.
GTI Resources (ASX:GTR) jumps on Utah uranium exploration approval
The share price of GTI Resources Ltd (ASX:GTR) surged as much as 18.2% to AU$0.026 on Wednesday.
The diversified explorer stated it has received approval for the second phase of uranium exploration on Section 36, a part of the Company’s Henry Mountains Uranium and Vanadium Project in Utah, United States.
GTR informed the second phase drilling will start by early July.
More than 20 million shares got traded as compared to the 30-day average volume of 6.2 million shares.
The stock is down 4.4% this year, as of the last close and was spotted trading at AU$0.025 per share, up 13.636% at 2:50 PM AEST.
Piedmont Lithium (ASX:PLL) climbs on resource estimate jump at N. Carolina project
Australia-listed shares of battery metals producer Piedmont Lithium (ASX:PLL) gained as much as 2.8% to AU$0.92 per share on Wednesday.
The Company has reported a 40% rise in its resource estimate for industrial minerals like quartz, feldspar and mica at its flagship North Carolina project.
The estimate is based on a previous report in April, showing a 40% rise in lithium resources at the project site.
ASX shares of Piedmont have more than doubled this year, riding on increased demand for battery metals from EV makers.
The United States is working to secure battery minerals from allied countries and process them domestically, a White House report showed recently.
Other ASX-listed lithium stocks also rise on Wednesday.
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Frontier Digital Ventures (ASX:FDV) jumps on buying remaining stake in InfoCasas
Shares of Frontier Digital Ventures (ASX:FDV) rose as much as 4.1% to AU$1.280, on track for their best session since 10 May 2021.
The online classifieds operator informed it has entered an agreement to acquire remaining 49% interest in InfoCasas, a property portal in Uruguay, Paraguay, Peru and Bolivia.
On completion of the agreement, the Company will own 100% of InfoCasas.
FDV stated initial cash consideration of US$6.2 million will be funded using existing cash reserves.
The stock is at its highest since 18 May 2021.
The stock is down 17.5% this year so far, as of the last close and was trading at AU$1.265 per share, up 2.845%.
Epsilon Healthcare (ASX:EPN) climbs on clinical trial supply agreement
Shares of medical cannabis developer (ASX:EPN) gained as much as 6.5% to AU$0.165 per share on Wednesday.
The Company stated it is supplying a clinical study with cannabidiol medicines to treat severe behavioural problems in youth with intellectual disability.
EPN said trial, to be conducted over two years, is taking place at Murdoch Children's Research Institute in Victoria.
The Company will receive a royalty-free licence to study data generated from the trial, informed EPN.
The stock, down 34% this year as of the last close, was trading 3.225% higher at AU$0.160 per share.
Clime Capital (ASX:CAM) hits over one-year high on dividend payout forecast
Shares of Clime Capital Limited (ASX:CAM) gained as much as 1.6% to AU$0.940, touching their highest levels since 27 February 2020.
The investment firm has provided dividend guidance of no less than 1.265 cents per share for the September quarter.
CAM informed that as of date, its gross asset value exceeded AU$158 million, which was helped by several takeover bids launched for companies held inside the CAM portfolio.
About 129,000 shares were traded as compared to the 30-day average volume of 112,000 shares.
The stock is up 2.8% this year, as of the last close.
Mining stocks on ASX gain as copper prices rise
Aussie metals and miners AXMM climbed as much as 1.4%, snapping three consecutive sessions of losses on Wednesday.
The sub-index rose tracking higher copper prices amid optimism about economic recovery, as world stocks hit record highs.
Australian metals and mining index fell 0.6% in the previous session.
Mining services provider Perenti Global Limited (ASX:PRN) soared as much as 7.4%, set to become biggest gainer on the sub-index.
AXMM is up around 10% this year, as of the last close.
Digital Wine Ventures (ASX:DW8) gains as May shipments rise
Shares of wine distributor Digital Wine Ventures Limited (ASX:DW8) rose as much as 12.9% to AU$0.105, biggest intraday percentage gain since 17 May 2021.
The Company stated its cloud-based distribution platform, WINEDEPOT, has shipped 25,284 cases in May, up 619% from a year earlier.
DW8 said WINEDEPOT has also singed 24 new suppliers, including another nine producers from New Zealand.
The stock has hit its highest since 2 June and is on track for second consecutive session of gains.
The stock is up more than double this year, as of the last close.
At around 1:00 PM AEST, the stock was trading 6.451% higher at AU$0.099 per share.
QuickFee (ASX:QFE) rises most in one month after the firm announces CEO transition
Shares of QuickFee Limited (ASX:QFE) gained as much as 12.2% to AU$0.275 today.
The digital lender stated Chief Executive Officer Bruce Coombes will be replaced by Eric Lookhoff, who was previously appointed as the president of QuickFee's U.S. division.
The firm added that Coombes will remain on board as executive director.
The stock is down 38.8% this year, as of the last close.
Ampol (ASX:ALD) jumps as court dismisses Chevron's claims in trademark breach case
Shares of Ampol Limited (ASX:ALD) gained as much as 1.1% to AU$30.080, their highest since 25 January 2021.
The fuel supplier has updated court proceedings related to breaches of a trademark license agreement with the energy giant Chevron Corp.
ALD informed that the court has dismissed several of Chevron's claims regarding ALD using Chevron's trademarks in a way that represented the same or suggested that associated entities own them.
ALD stock is one of the top gainers in the energy sub-index AXEJ.
The stock is up 4.7% this year, as of the last close and was trading 0.655% up at AU$29.945 per share at 12:40 PM AEST.
Probiotec Limited (ASX:PBP) rises on upbeat earnings outlook
Probiotec Limited (ASX:PBP) gains as much as 10.8% to AU$2.160, hitting its highest since 23 April 2021.
Based on strong trading and an accretive acquisition, the pharma company expects FY21 revenue at between AU$118 million and AU$122 million, against AU$107 million it earned in FY20.
The Company expects underlying core earnings between AU$21 million and AU$22 million compared to last year's AU$16.9 million.
PBP says pharmaceutical product categories affected by the response to COVID-19 are expected to improve progressively through H1 of FY22 and normalise through H2, with demand already returning strongly.
More than 250,000 shares were traded as compared to the 30-day average volume of about 34,000.
Though the stock is down 18.8% this year, as of the last close, it was trading 8.205% higher at AU$2.110 per share at 12:20 PM AEST.
Regional Express (ASX:REX) hits 1-week low on lowered FY outlook
Shares of Regional Express Holdings Limited (ASX:REX) dropped as much as 1.6% to A$1.235 per share on Wednesday.
The domestic airline stated that Company is revising its interim profit guidance provided on 10 May, which forecast a breakeven FY.
REX is now forecasting an FY statutory loss before tax of ~A$15 million.
The Company said the latest COVID-related state border restrictions have severely disrupted Rex's domestic and regional networks, forcing co to cancel many flights to/from Melbourne.
The stock is set to post its third consecutive session of losses.
REX down 39.1% this year as of the last close and was trading at AU$1.255 per share at 12:20 PM AEST.
Brickworks (ASX:BKW) hits record high on strong annual EBIT forecast
Shares of building products manufacturer Brickworks Limited (ASX:BKW) gained as much as 8.991% to AU$22.910 to hit a record high on Wednesday.
The stock is the second-biggest gainer in benchmark S&P/ASX 200 index AXJO.
The Company shared it sees an underlying EBIT of AU$240 million to AU$260 million for FY21, up from AU$129 million a year earlier.
The Company expects EBIT for building products in Australia and North America to be higher in FY21.
The stock is up around 9.5% this year, as of the last close.
Moho (ASX:MOH), completes diamond drilling at Crossroads gold prospect
The drilling program is a Joint Venture with IGO Limited (ASX:IGO), managed by Moho.
As per the announcement, four diamond drill holes (630m) were drilled to test down-dip extensions of the broad gold mineralised zone, location and intensity and the relationship between lithology and structures. It represents a significant advance in Moho’s geological understanding.
Next, MOH is expecting DDH assays in Q3 2021, compiled with structural and other data for target generation at Crossroads. The company will also review all surface geochemical sampling data across the project area in Q3 2021.
Finally, it is planning to explore further aircore and RC drilling in H2 2021/Q1 2022.
MOH shares traded at AUD 0.076 at 11:00 AM AEST.
Sandfire (ASX:SFR) awards open pit mining contract for Motheo Copper Mine, Botswana
Sandfire Resources Ltd. (ASX:SFR) announced today that it has awarded the contract for open pit mining services of the T3 pit, at its Motheo Copper Project in Botswana, to African Mining Services (AMS). AMS is a surface mining business of Perenti Global Ltd (ASX:PRN).
The contract has an estimated AU$648 million value and is the largest single operational contract for the new Motheo Project. It is covering 7 years and 3 months, with provision for a one-year extension. The award is subject to the grant of the Mining Licence and subsequent execution of the final contract.
AMS has agreed to form a 70:30 Joint Venture with a suitable local Botswana partner or partners. The JV is expected to be finalised in early CY2022.
SFR shares traded 2.384% higher at AU$ 7.300 at 11:15 AM AEST.
DEXUS (ASX:DXS) establishes relationship with Australian Unity
DEXUS Property Group (ASX:DXS) has announced a new healthcare platform relationship with Australian Unity regarding the Australian Unity Healthcare Property Trust (AUHPT). Also, the Company shared it will enter into arrangements concerning the Australian Unity platform.
DXS will make an AU$180 million cornerstone investment in AUHPT’s AU$320 million capital raising announced today.
The establishment of this relationship and investment in AUHPT is consistent with Dexus’s focus on enhancing the ability to obtain further scale in the healthcare property sector.
The relationship and investment in AUHPT are expected to be accretive to Dexus’s FY22 Adjusted Funds From Operations and distribution per security. Dexus will continue to separately develop and grow the group’s healthcare exposure through the AU$1.1 billion Dexus Healthcare Property Fund.
DXS shares traded at AUD 10.760, 0.186% up at 11:00 AM AEST.
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Stonehorse Energy Limited (ASX:SHE) completes drilling at Jewell Well
Stonehorse Energy Limited (ASX:SHE) updated on well operations regarding the drilling of Jewell Well, located in Carter County, Oklahoma in North America’s Anadarko Basin.
The Company informed that drilling operations are now complete at the Jewell Well. The production casing has been subsequently laid, set and cemented in the lateral section of the well for significantly de-risking the project.
Stonehorse also suggested that the Latshaw drilling rig has now been released and has commenced demobilisation in preparation for the arrival and deployment of the well stimulation equipment. Operations continue on schedule with planned building of tank battery and separators on location to commence immediately.
SHE shares traded at AU$ 0.027, down 3.572% at 11:00 AM AEST.
The US seeks battery metals supply from its allies
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In a move to secure international investment in electric vehicle (EV) space, the White House said on Tuesday that the US must work with its allies to secure the battery metals for EVs and process them in an eco-friendly manner.
- The US has been working to secure battery metals supply from its allied countries including Finland, Canada, Chile, and Australia.
- US President Joe Biden also plans to launch a working group to identify the domestic location for the production and processing of battery metals.
- The country's miners are unable to supply enough amount of copper, lithium, and other raw material used in EV manufacturing due to regulatory pressure related to environmental concerns.
- Reportedly, Lithium America’s Thacker Pass lithium project located in Nevada is also facing opposition from Native Americans over environmental concerns.
- The US plans to electrify the majority of cars by 2030 and to replace every car on road with EV by 2040.
Cardno (ASX:CDD) soars on announcing strategic review
The shares of Cardno Limited (ASX:CDD gained as much as 21.379% to AU$0.880 at 10:50 AM AEST on Wednesday.
The construction and engineering firm has decided to commence a strategic review process after receiving several unsolicited approaches from interested parties.
The Company stated the process would involve assessing the company’s strategic options and alternative strategies for its shareholders.
The stock has more than doubled in value this year, as of the last close.
Intega (ASX:ITG) climbs on starting strategic review
Intega Group Ltd (ASX:ITG) gained as much as 13% to AU$0.520, on track for its best session since 26 March 2021.
The construction and engineering company has started a strategic review due to increased activity and interest in the sector.
The board said the business is undervalued by recent prices at which shares have traded, and the strategic review will seek to maximise value for all shareholders.
The Company added that Crescent Capital Partners, Company’s largest shareholder, is supportive of the review.
The stock has hit its highest since 3 May, and more than 221,000 shares got traded compared to the 30-day average volume of about 83,000.
While the stock is up 67.3% this year, as of the last close, it was trading 8.695% higher at AU$0.500 per share at 10:40 AM AEST.
Crude oil prices surge to two-year highs
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Crude oil prices surged to two-year high levels on Tuesday due to a delay in Iranian oil supply which was expected to increase the oil gluts in the market.
- August delivery Brent crude oil futures traded 0.03% up at US$70.07 per barrel and whereas, July delivery WTI crude oil futures traded at US$70.08 per barrel up 0.04% as of 9 June 2021 at 10:10 AM AEST.
- The US diplomat said on Tuesday that the US sanctions on Tehran would remain in place even after reaching a nuclear deal with Iran.
- The US told Iran to let the UN atomic agency continue monitoring its activities as per the agreement that has been extended to 24 June.
- The supply curbs by the Organization of the Petroleum Exporting Countries and its allies have also boosted the crude oil prices.
- A fall in US crude inventories by 2.1 million barrels last week as per API (American Petroleum Institute) data has also buoyed the crude oil prices.
BluGlass (ASX:BLG) to raise A$2 million via placement at issue price of A$0.03
BluGlass Limited (ASX:BLG) announced a non-renounceable entitlement offer for shareholders and a private placement of 66,666,667 new fully paid ordinary share to raise AU$2 million at an issue price of AU$0.03 per new share.
The new shares to be issued under the placement will be issued to a leading technology focused fund.
As per the ASX announcement, the Company will be issuing up to 197,333,333 new shares to raise around A$6 million.
The issue price per new share of AU$0.03 represents a 46.4% discount to the Company’s close of AU$0.056 on 4 June 2021.
The stock BLG was spotted trading at AU$0.056 per share.
Saturn Metals (ASX:STN) announces significant results at Apollo Hill deposit
Saturn Metals Limited (ASX:STN) has announced further significant results from ongoing reverse circulation (RC) drilling at the Apollo Hill deposit within its 100%-owned Apollo Hill Gold Project, 60km south-east of Leonora in the Western Australian goldfields.
As per the Company’s release, another resource upgrade is planned for later in 2021 utilising the results from the next 20,000m of drilling planned across the Apollo tenements and the 29,000m already completed between January and May.
Meanwhile, the stock STN traded last at AU$0.425 per share.
Cellmid (ASX:CDY) signs supply and collaboration deal with Pump Haircare Pty Ltd
Cellmid Limited (ASX:CDY) has shared that its 100%-owned consumer health subsidiary, Advangen International Pty Ltd has signed a Supply and Collaboration Agreement with Pump Haircare Pty Ltd. CDY has agreed on the supply of its FGF5 inhibitor hair growth products under the PUMP brand and to join forces with Pump on new and upcoming products.
According to the terms of the agreement, Advangen will manufacture and supply PUMP branded hair lotions utilising its proprietary FGF5 inhibitor hair loss prevention and hair growth technology. Pump will cover all marketing activities and will sell the hair lotions through its omnichannel distribution model.
The two companies will also be collaborating on new products.
Cellmid will contribute its scientific expertise in developing anti-aging technologies and products and Pump will market these under its own brand.
The stock, meanwhile, traded last at AU$0.064 per share.
Race (ASX:RAC) executes key contract for Israel Phase 2 AML trial
Race Oncology Limited (ASX:RAC) shared that it has executed a contract with Trialog Clinical Trials Ltd, Israel, to support the coming combination Phase 2 Acute Myeloid Leukaemia trial. Trialog will supply the trial drugs as well as provide other clinical services to Race and Chaim Sheba.
This Phase 2 AML trial will feature 29 patients and will utilise Bisantrene in a new three-drug combination.
As per the ASX announcement, the trial has received human ethics approval and the first patient is expected to be treated in Q3 CY 2021.
The supply agreement has a maximum cost of US$801,247.
The last traded share price of the stock was AU$3.700 per share.