Live ASX News Today
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11th Jun 06:31 PM AEST
Australia's Valmec (ASX:VMX) climbs on settling litigation against John Holland
Shares of Valmec Limited (ASX:VMX) rose as much as 4.5% to AU$0.350, biggest percentage gain since 3 June.
The energy and infrastructure services company has updated on its litigation proceedings against John Holland Pty Ltd over civil work on a Western Australia project.
VMX stated parties have now agreed on a confidential settlement and the Company has now discontinued its claim on John Holland.
Valmec added that it has declared a special dividend of 1.2 cps.
The stock has risen 39.6% this year as of the last close and ended 1.492% higher at AU$0.340 per share on Friday.
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11th Jun 02:36 PM AEST
OreCorp (ASX:ORR) updates on Nyanzaga and Western Australian Project
OreCorp Limited (ASX:ORR) has provided an update on the Nyanzaga Gold Project timeline and other planned activities in Tanzania. It is also considering demerging its Western Australian exploration assets (WA Assets) to unlock their value for shareholders. The key focus of the Company will now be on the development of the Project.
It is planning to conclude the Definitive Feasibility Study (DFS) by the end of Q1-2022. Front End Engineering and Design (FEED) is aimed to be completed in Q3-2022. Drilling shall also get finished on the Kilimani Deposit to lift the current mineral resource estimate from inferred to measured and indicated categories.
ORR shares traded at AU$0.980, up 4.255% on Friday, 2:29 PM AEST.
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11th Jun 02:29 PM AEST
NewPeak’s (ASX:NPM) Cap Burn project projects anomalous gold results
NewPeak Metals Limited (ASX:NPM), provided an update on the results returned from the recently completed West Block drilling undertaken on the Cap Burn Gold Project. Results from the drilling program have confirmed that the significant surface soil arsenic anomalies have anomalous Gold. It suggests mineralisation be typical of that in the Macraes region.
East Block assay results remain pending. Finland Gold Project is on track to commence resource definition drilling in the coming weeks. Las Opeñas drilling is scheduled for Q4 2021. NPM is progressing a prospectivity study for its Swedish strategic Metals project to highlight the valuable potential of critical minerals in the historical Tungsten mining area. NPM will test priority areas in H2 2021.
NPM shares traded at AUD 0.002 on 11 June, 02:27 PM AEST.
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11th Jun 02:28 PM AEST
CEO Transition and key personnel confirmed at AMP Limited (ASX:AMP)
AMP Limited (ASX:AMP) has confirmed its future CEO, Alexis George, to begin his role a group CEO from 2 August 2021.
Alexis George will be replacing current CEO Francesco De Ferrari who will retire on 30 June 2021. James Georgeson, AMP’s Chief Financial Officer (CFO), will serve as acting CEO during the period till Ms George commences in the role.
AMP also announced the appointment of internationally respected asset management executive Shawn Johnson as its new Chief Executive Officer (CEO) for the AMP Capital business, effective 28 June 2021. He will be responsible for leading its international growth strategy and oversee the planned demerger of the private markets businesses to be completed in first half of 2022.
AMP shares traded at AU$1.225, up 1.659% at 2:24 PM AEST.
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11th Jun 01:36 PM AEST
OreCorp (ASX:ORR) updates on Nyanzaga and Western Australian Project
OreCorp Limited (ASX:ORR) has provided an update on the Nyanzaga Gold Project timeline and other planned activities in Tanzania. It is also considering demerging its Western Australian exploration assets (WA Assets) to unlock their value for shareholders. The key focus of the Company will now be on the development of the Project.
It is planning to conclude the Definitive Feasibility Study (DFS) by the end of Q1-2022. Front End Engineering and Design (FEED) is aimed to be completed in Q3-2022. Drilling shall also get finished on the Kilimani Deposit to lift the current mineral resource estimate from inferred to measured and indicated categories.
ORR shares traded 4.255% higher at AU$0.980 at 1:30 PM AEST.
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11th Jun 01:36 PM AEST
Mandrake (ASX:MAN) successfully places AU$12 million shares
Mandrake Resources Limited (ASX:MAN) has received firm commitments from institutional and sophisticated investors for the placement of AU$12 million (before costs) from MAN's issue of 60,000,000 new shares at an issue price of AU$0.20 per share.
The placement provides Mandrake resources to facilitate the imminent drilling program and broader geological and geophysical assessment of the Newleyine PGE-Ni-Cu target. Drilling is scheduled to commence at Newleyine on 14 June 2021.
MAN will undertake further work at the PGE-Ni-Cu prospects identified across the entire Jimperding Project. It will be conducting additional RC drilling at the Berinka Au-Ag-Cu project in July/August 2021.
Settlement and issue of the Placement Shares are expected to occur on or around 17 June 2021.
MAN shares traded at AU$0.225, down 6.250% at 1:33 PM AEST.
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11th Jun 12:54 PM AEST
Fatfish (ASX:FFG) acquires BNPL Next Ltd to Enter Southeast Asia
Fatfish Group Limited (ASX:FFG) is set to acquire 100% of BNPL Next, a holding company aiming to provide various corporate and consumer financial services. The acquisition will be for AU$4.14 million, entirely through FFG shares.
BNPL Next owns 60% of Circo, which operated the Circopay platform, a pioneering Earned Wage Access provider in Southeast Asia. Earned Wage Access is a fast-growing employee financial benefit solution that allows employees early access to earned wages.
Circopay has also recently raised AU$1million in funding and secured credit lines of AU$5 million to facilitate its EWA services. It has also entered into a service agreement with Singapore subsidiary of ASX-listed Paygroup (ASX:PYG). As a result, Circopay will prove to be a complementary business to FFG’s BNPL roll-out.
FFG shares traded 18.421% higher at AU$0.090 at 12:30 PM AEST.
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11th Jun 12:39 PM AEST
Premier Investments (ASX:PMV) hits record high on strong Premier Retail outlook
Shares of retail fashion chains operator Premier Investments Limited (ASX:PMV) hit a record high, adding as much as 5.2% to AU$28.750.
The Company expects Premier Retail full year EBIT to be in the range of AU$340 million to AU$360 million versus AU$187.2 million underlying EBIT last year.
The stock has posted its biggest intraday percentage jump since 25 March.
PMV is on track for third straight day and third straight weeks of gains.
The stock has added 16.3% this year, as of the last close and was spotted trading at AU$27.430 per share, up 0.365% at 12:28 PM AEST.
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11th Jun 12:26 PM AEST
Domino's Pizza (ASX:DMP) climbs on acquiring PizzaVest
Shares of Domino's Pizza Enterprises Limited (ASX:DMP) gained as much as 2.4% to AU$116.810 per share, marking their biggest intraday percentage gain since 4 June 2021.
The pizza maker has entered an agreement with Taiwan-based Formosa International Hotels Corp to acquire entire stake in PizzaVest Co Ltd for AU$79 million.
DMP stated on an FY2020 Pro-forma basis, the transaction is roughly 2% earnings per share accretive and that it will have a marginal contribution to Company’s FY22 underlying earnings.
The Company stated it is revising its future store count outlook in Asia from 1,500 stores to 1,900 stores by 2030-2032.
The stock up about 31.6% this year so far, as of the last close and was trading at AU$115.650 per share, up 1.402% at 12:20 PM AEST.
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11th Jun 12:25 PM AEST
iSelect (ASX:ISU) hits over one-year high on a partnership deal with an insurance firm
Shares of iSelect Limited (ASX:ISU) gained as much as 8.3% to AU$0.390, their highest since February 2020.
The online product comparison site stated its unit has entered a private health insurance partnership with Bupa Hi Pty Ltd.
The unit will get commission payments from Bupa for health insurance policies.
The stock has posted its most significant intraday percentage jump since 5 May 2021.
The stock has added 30% this year, as of the last close.
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11th Jun 12:08 PM AEST
AML3D (ASX:AL3) jumps on Australian patent grant for manufacturing process
Shares of AML3D Limited (ASX:AL3) soared as much as 11.9% to AU$0.235 on Friday.
The 3D metal printing firm said the Company has been granted an Australian patent for its Wire Additive Manufacturing (WAM) process.
It stated patent provides coverage over method and apparatus for manufacturing 3D metal parts.
Though the stock has fallen 41.7% this year, as of the last close, it was trading 7.142% up at AU$0.225 per share at 12:00 PM AEST.
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11th Jun 11:48 AM AEST
Crude oil prices climb to two-year high levels amid strong demand expectations
Source: © Lkeskinen0 | Megapixl.com
Crude oil prices surged to more than two-year high levels on Thursday on optimism for strong energy demand after a fall in US unemployment claims to the lowest levels since the start of COVID-19 in 2020.
- August delivery Brent crude oil futures traded at US$72.38 per barrel, 0.12% up, whereas July delivery WTI crude oil futures traded 0.11% down at US$70.21 per barrel as of 11 June 2021 at 10:07 AM AEST.
- The number of Americans filing unemployment claims tumbled to 15-month lows; however, consumer prices increased significantly in May amid ease in pandemic-related lockdowns.
- The market has recorded a brief plunge after the US Treasury announced that it had removed sanctions on two companies and three former officials involved in trading petrochemical products.
- Analysts also believe that the revival of the significant 2015 nuclear deal between the US and Iran will add nearly 1 million Barrels Per Day to 2 million Barrels Per Day in the market, weighing oil prices.
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11th Jun 11:45 AM AEST
Court orders Vale SA to pay compensation to 2019 dam collapse victims
Source: © Poemsuk | Megapixl.com
Brazil's regional labor judge has ordered the world's leading iron ore miner Vale SA to pay a compensation of 1 million reais to the families of all 131 employees killed in the 2019 dam collapse accident.
- The fatal disaster in Brumadinho had killed around 270 people in Brazil and was the primary reason for the hampered performance of the company for two years amid stringent safety procedures.
- On Wednesday, the judge agreed to the request of the mining workers union regarding the compensation of disaster victims.
- However, the company said that it had already paid more than 2 billion reais in civil and labor indemnities related to the mine disaster.
- Vale had already reached a 37.7 billion real agreement in February 2021 with the state of Minas Gerais and prosecutors to settle disaster claims.
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11th Jun 11:43 AM AEST
Australian gold stocks climb as bullion prices rise
Australian gold stock AXGD rose as much as 2% to be second-biggest gainer on the benchmark index.
Gold prices saw an uptick on Thursday after data showed U.S. consumer prices increased further last month as continued economic recovery from the pandemic boosted domestic demand.
Sector heavyweight Newcrest Mining Limited (ASX:NCM) climbed 1.1% to AU$27.820 and is on track for its best week since 7 May, Northern Star Resources Limited (ASX:NST) gained ~3% to AU$11.320.
AXGD on track for best day since 25 May; extends gains for a second consecutive session.
Silver Lake Resources Limited (ASX:SLR) and Resolute Mining Limited (ASX:RSG) rise 3.5% and 4.3%, respectively.
Index is down over 1% this year, as of the last close.
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11th Jun 11:42 AM AEST
Crown Resorts (ASX:CWN) slips as Victoria state extends timeline on inquiry
Crown Resorts Limited (ASX:CWN) fell more than 3% on Friday morning and is on track for its worst session since 23 March 2021.
Australia's Victoria state has extended time and funding given to the Royal Commission probing the casino operator's operations in the state, to allow it to investigate a wider range of matters.
The move steps up the duration and depth of the regulatory scrutiny on Crown, at a time when it is trying to overturn a suspension of its new Sydney casino licence and is balancing buyout talks with suitor Star Entertainment Group.
The stock has posted its biggest intraday percentage fall since 7 May 2021 and is the third biggest percentage loser on the S&P/ASX 200 index AXJO.
CWN has risen 28.8% this year, as of the last close, compared with a 10.9% increase in the ASX200 index.
Meanwhile, the stock was spotted trading at AU$12.180 per share, down 1.775% at 11:30 AM AEST.
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11th Jun 11:27 AM AEST
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11th Jun 10:59 AM AEST
Australian tech stocks hit over one-month high tracking Nasdaq rise
Aussie tech stocks AXIJ climbed as much as 2.3%, hitting their highest since 4 May 2021.
AXIJ takes cues from tech-heavy Nasdaq IXIC that rose 0.78% on Thursday.
The Australian sub-index for tech companies is set to post its second consecutive session of gains.
Buy-now-pay-later giant Afterpay Limited (ASX:APT) gained as much as 3.8%, its highest since 6 May.
Software maker Altium Limited (ASX:ALU) and AI-data developer Appen Limited (ASX:APX) added as much as 2.4% and 2.8%, respectively.
Australian tech stocks are down 7.8% this year, as of the last close.
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11th Jun 10:58 AM AEST
Bulletin Resources (ASX:BNR) initiates new drilling campaign at Lake Rebecca
Bulletin Resources Limited (ASX:BNR) shared on 11 June 2021 that an 8,000m aircore drilling program is about to commence at its Lake Rebecca gold project, 150km east north-east of Kalgoorlie, Western Australia.
The Lake Rebecca gold project is immediately along strike of Apollo Consolidated Limited’s 1.1M oz Rebecca Gold Project.
As per the ASX announcement, the 8,000m land aircore drill program is planned to test the potential for gold mineralisation along strike of a 2.4km long gold trend identified in the January 2021 successful lake aircore program as well as a structurally complex thrust fault zone along a major north-south structure to the east.
The stock BNR was spotted trading 4.285% higher at AU$0.073 per share at 10:50 AM AEST.
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11th Jun 10:30 AM AEST
Matsa’s (ASX:MAT) Lake Carey Mineral Resource increased to 694,000oz
Gold explorer and developer Matsa Resources Ltd (ASX:MAT) announced today a Mineral Resource Estimate (MRE) for the Bindah deposit located in the Fortitude hub of the Company’s Lake Carey Gold Project. The new Bindah MRE stands at 526,000t @2.4g/t Au for 40,000oz using a 1g/t cut-off.
As per the ASX announcement, recently, the Company had announced new MRE’s for the Hill East and Gallant prospects.
The Bindah model delivers additional Mineral Resources to the Lake Carey Gold Project which now totals 694,000oz gold, the Company informed.
Backed by the announcement, the stock MAT soared up 9.090% at AU$0.084 per share at 10:20 AM AEST.
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11th Jun 10:06 AM AEST
Victoria state extends timeline on powerful inquiry into Crown Resorts (ASX:CWN)
The Victorian government in Australia said on Friday it would give additional time and funding to the Royal Commission that is probing casino operator Crown Resorts Limited's (ASX:CWN) operations in the state, to allow it to investigate a wider range of matters.
Royal Commission which has been handling the CWN case for long now, is Australia's most powerful kind of public inquiry system. It can even compel witnesses.
Meanwhile, the stock CWN traded last at AU$12.400 per share on the ASX.
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11th Jun 10:05 AM AEST
Centuria (ASX:CIP) acquires three assets, expands portfolio to over A$3 billion
Centuria Industrial Reit (ASX:CIP) declared on Friday that it has secured three high-quality industrial assets worth AU$86.1 million.
After the settlement of these acquisitions, CIP’s portfolio will rise to 66 properties worth more than AU$3.0 billion.
As per the ASX announcement, the newly acquired properties are 100% occupied on a portfolio Weighted Average Lease Expiry (WALE) of five years.
The portfolio includes:
- 110 Northcorp Boulevard, Broadmeadows for AU$37.1 million.
- 40 Scanlon Drive, Epping for AU$15.5 million.
- 160 Newton Road, Wetherill Park for AU$33.5 million.
The last traded stock price of CIP was AU$3.720 per share.
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11th Jun 09:37 AM AEST
Patrys (ASX:PAB) receives R&D Tax Incentive Refund
Therapeutic antibody development company Patrys Limited (ASX:PAB) has announced that its wholly-owned subsidiary Nucleus Therapeutics Pty Ltd has received a AU$626,780 R&D Tax Incentive Refund for the 2019/2020 financial year.
It should be highlighted that the Australian Government R&D Tax Incentive keeps triggering companies to engage in R&D benefiting Australia, by providing a tax offset of up to 43.5% (refundable) for eligible R&D activities.
The stock PAB traded last at AU$0.031 per share.
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11th Jun 09:17 AM AEST
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11th Jun 08:40 AM AEST
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11th Jun 08:37 AM AEST