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Aurora Labs (ASX:A3D) resumes customer and technology development printing, shares gain
Aurora Labs Limited (ASX:A3D) shared the news of recommissioning of its printers after a recent relocation to the Company’s new Canning Vale facility.
A3D’s Beta prototype has printed its first test coupons already relaunching the Company’s Technology Development Pathway campaign.
Completion of this campaign is likely to get finished in September quarter.
The stock A3D traded well throughout the day and ended 1.428% higher at AU$0.071.
Flynn Gold (ASX:FG1) starts trading on the ASX, posts losses
Mineral exploration company Flynn Gold Limited (ASX:FG1) started trading on the Australian Securities Exchange today following completion of an oversubscribed IPO.
As per the ASX announcement, the IPO raised AU$10 million via issuance of 50,000,000 shares at an issue price of AU$0.20 per share, giving the Company a market capitalisation of approximately AU$19 million at the IPO price.
Flynn Gold has a portfolio of strategic exploration projects in established Australian mineral provinces.
Funds raised under the offer will be used to undertake a focused exploration programmes.
The stock ended 22.501% lower at AU$0.155 per share on its debut day.
Coles (ASX:COL) flags higher spending next year, stock ends lower
Shares of Coles Group Limited (ASX:COL) fell up to 5.3% to reach AU$16.14, its biggest single-day loss since 18 February 2021.
The Australian supermarket giant said that it is earmarking AU$1.4 billion as capital spend in fiscal 2022.
It stated that spending projection is AU$300 million higher than the current year.
Coles also shared it sees depreciation and amortisation at about AU$1.7 billion next year.
A rapid transition to online selling and digitisation, while rebuffing technological capabilities and automation has been a costly affair for Australian retailers locked in a battle for higher market share, shared Coles.
The stock COL ended 4.459% lower at AU$16.290 per share on Thursday.
Nuix (ASX:NXL) climbs over 7% after volatile recent sessions
Shares of software company Nuix Limited (ASX:NXL) rose as much as 7.5% to AU$2.795 per share on Thursday.
The Macquarie-backed firm has lost more than half its value since listing in December, and around ~76% from its peak in late January.
NXL's CEO and CFO stepped down on Tuesday amid growing pressure for failing to meet targets set in its prospectus and downgrading revenue forecasts twice since.
The stock rose after the announcement on Tuesday, but fell 5.8% in the previous session.
Oz Minerals (ASX:OZL) extends losses as base metals fall after Fed
Copper miner Oz Minerals Limited (ASX:OZL) shares extended losses into a third session, declining 4.8% to AU$22.7 per share on Thursday.
The stock is among top percentage losers on the Aussie benchmark index AXJO, falling to its lowest level since 31 March 2021.
Industrial metals took a hit on Thursday after the U.S. Federal Reserve brought forward its interest rate hike projections, thus firming the dollar.
The three-month copper contract CMCU3 on the London Metal Exchange slipped 1.6%.
The benchmark metals and mining index AXMM fell as much as 2.5%.
Triangle Energy (ASX:TEG) drops after share placement
Shares of oil & gas explorer Triangle Energy (Global) Limited (ASX:TEG) fell as much as 17.9% to AU$0.023, their lowest since 4 January 2021.
The Company said it would raise AU$10 million through a placement of 454.5 million shares at AU$0.022 per share.
The offer price is at a 21.4% discount to Company’s last closing price of AU$0.028 per share.
The stock has posted its biggest intraday percentage fall since 3 November 2020, however the stock has risen 16.7% this year, as of the last close.
Australia’s mining subindex hits over 3-week low tracking iron ore prices fall
Australia's metals and mining subindex AXMM declined as much as 2.4% on Thursday.
AXMM is set to post a third consecutive session of losses.
Australian miners take cues from Chinese iron ore futures that fell on Wednesday, on rising shipments from major suppliers.
Australia's mining subindex had slipped 1.9% it the previous session.
Gold miner Chalice Mining Limited (ASX:CHN) is the biggest loser on the subindex, tanked 6.3%.
AXMM is up 9.7% this year, as of the last close.
Whitehaven Coal (ASX:WHC) cuts FY21 output forecast, shares fall
Shares of Whitehaven Coal Limited (ASX:WHC) plummeted as much as 10.417% to AU$1.827, marking their biggest intraday percentage loss since 15 April 2021.
The country's largest independent coal miner trimmed its annual run-of-mine coal output to 20.4 metric tonnes (Mt) from its previous range of 20.6 Mt to 21.4 Mt.
WHC has also cut its FY21 forecast for managed coal sales to 17.9 Mt from the initial range of 17.8 Mt to 18.3 Mt.
The Company has attributed revised production estimates to the downtime at its Narrabri mine in New South Wales due to some engineering work and machinery repairs.
WHC is the biggest loser on the benchmark S&P/ASX 200 index; stock is up ~24% this year, as of the last close.
Vectus Biosystems (ASX:VBS) climbs on nod for lead drug's Phase I trial in Australia
Shares of Vectus Biosystems Limited (ASX:VBS) spurted up 24.752% to AU$1.260 per share at 1:30 PM AEST on Thursday.
The biotech firm stated it has received approval for the Phase I human trial of its drug, dubbed VB0004, in healthy volunteers in Australia to study its safety and tolerability.
VB0004 is Company’s lead compound, which aims to treat the hardening of functional tissue and high blood pressure.
eCargo (ASX:ECG) rises on partnership with NZ's Fonterra unit
Shares of eCargo Holdings Ltd (ASX:ECG) gained as much as 25% to AU$0.025, on track for their best session since 15 February 2021.
The outsourcing services provider said it has launched its JuJiaXuan Digital Wholesale Marketplace to connect Australian brands with Chinese retailers with NZ-based dairy giant Fonterra's Australian unit.
Under the agreement, Fonterra's Australian dairies brand will be connected to 4,000 points-of-sale across mainland China.
The stock is down 13% this year, as of the last close.
NB Global (ASX:NBI) jumps as FY22 target distribution raised to 4.75% per annum
Shares of NB Global Corporate Income Trust (ASX:NBI) gained as much as 1.1% to AU$1.845, their biggest intraday percentage jump since 2 June 2021.
The investment manager said it will increase target distribution for financial year 2022 to 4.75% per annum.
It added, the first payment of its FY2022 target distribution will be announced at the end of July and paid in mid-August.
The stock has lost 2.9% this year, as of the last close.
Jayride Group (ASX:JAY) drops after share placement
Online travel marketplace Jayride Group Limited (ASX:JAY) shares fell as much as 12.728% to AU$0.240, lowest since 8 June 2021.
The Company stated it has undertaken a placement of 47.6 million shares at AU$0.21 per share to raise AU$10 million.
Placement price is at 23.6% discount to company's last close price of AU$0.275.
The Company also has announced share purchase plan to raise up to AU$1 million on same terms as the placement.
The stock has posted its biggest intraday percentage fall since 14 May 2021.
About 227,000 shares got traded vs 30-day average of about 67,000 shares.
The stock is up 89.7% this year so far as of the last close.
Castle Minerals (ASX:CDT) soars on base metals confirmation at Earaheedy Basin Project
Shares of Castle Minerals Limited (ASX:CDT) jumped as much as 7.142% to AU$0.015, their biggest intraday percentage gain since 3 June 2021.
The Gold explorer said review of historic exploration reports has confirmed base metals at Withnell and Terra Rossa project areas (Earaheedy Basin Project) in Western Australia.
The Company stated several base metal anomalies have been identified by various explorers on Terra Rossa licence application areas.
The stock is set to snap its two-day losing streak today.
CDT has risen 40% this year as of the last close.
AusCann Group (ASX:AC8) sees best day in over four months on facility lease
Shares of medical marijuana producer AusCann Group Holdings Ltd (ASX:AC8) gained as much as 9.1% to AU$0.12 on Thursday.
The Company has entered agreement to lease its R&D facility in Western Australia to forensic tech firm Source Certain International.
The firm will receive AU$475,000 per year in rent as part of a five-year lease.
The stock has posted its biggest intraday percentage gain since 10 February.
Though the stock is down 43.6% this year as of the last close, it traded 4.545% higher at AU$0.115 at 12:40 PM AEST.
Why are Brookside (ASX:BRK) shares trading higher today?
Brookside Energy Limited (ASX:BRK) provided an operations update on Jewell Well, located in Anadarko Basin.
The announcement highlighted:
- Operations are safe, proceeding on schedule.
- Jewell Well is now installed with production casing and is prepared to start with completion operations.
- Latshaw Drilling Rig 14 has been demobilised and is currently stacked on the Jewell Well location.
- Work related to construction and installation of surface production facilities to connect the well to nearby gas sales line has started.
BRK shares traded 4.545% up at AU$0.023 at 12:40 PM AEST.
4D Medical (ASX:4DX) receives US$600K purchase order for preclinical Scanner, stock gains on ASX
4D Medical Limited (ASX:4DX) announced it has received a US$600k purchase order for a preclinical scanner from the University of Michigan.
As per the release, the order is for 4DMedical’s XV Technology™, Permetium™ preclinical scanner. It is an updated technology from 4DX’s early R&D technologies. The University of Michigan has been using the preclinical Scanner to perform safe and quick quantitative imaging of lung function and vascular changes.
4DMedical is currently focusing on the commercialisation of its software technology via integration with existing hospital X-ray infrastructure.
Meanwhile, 4DX shares traded at AU$1.295, up 1.968% at 12:30 PM AEST.
Bigtincan (ASX:BTH) acquires Vidinoti, a Swiss leader in AR/VR tech
Bigtincan Holdings Limited (ASX:BTH) shared on Thursday that it will acquire 100% of Vidinoti SA, a Swiss-based leader in AR/VR technology.
Bigtincan has signed a definitive agreement for AU$770,000 for the same deal. The consideration will be 50% cash and 50% equity. The acquisition is expected to add to the Company’s leadership in new technologies.
With the release of Engagement Hub, BTH has also completed the integration of ClearSlide. It has helped BTH achieve an AU$53 million of Annualised Recurring Revenue (ARR), surpassing its’ guidance of FY21. The ARR represents a 48% growth over the period ended June 2020. Full-year, FY21 results of BTH are expected in August 2021.
BTH shares traded at AU$1.145, gaining 12.254% at 12:00 PM AEST.
Think Childcare (ASX:TNK) enters into implementation agreement with Busy Bees.
Think Childcare Group (ASX:TNK) shared it has executed an Implementation Agreement with Busy Bees Early Learning Australia Pty Ltd.
The proposed acquisition will have two inter-conditional schemes of arrangement. The Scheme consideration is AU$3.20 cash per Stapled Security.
TNK is permitted to pay: a fully franked interim dividend of up to AU$0.08 per Stapled Security. It would be subject to the finalisation of the interim result for the six months ending 30 June 2021. A fully franked dividend of up to AU$0.24 per Stapled Security is also permitted.
The scheme consideration of AU$3.20 per Stapled Security is to be reduced by the amount of such permitted dividend.
TNK shares traded at AUD 3.050 on 17 June, 10:19 AM AEST.
Unemployment rate falls to 5.1%, employment up 115,000: ABS
The Australian Bureau of Statistics (ABS) shared the latest employment figures on 17 June 2021. According to the stats, the seasonally adjusted unemployment rate fell to 5.1% in May 2021, with employment increasing by 115,000 people from April to May.
Other key highlights:
- Participation rate rose to 66.2%.
- Employment went up to 13,125,100.
- Employment to population ratio rose to 62.8%.
- Underemployment rate fell to 7.4%.
- Monthly hours worked went up by 25 million hours.
Fe Limited (ASX:FEL) to sell its Pilbara exploration tenements
Fe Limited (ASX:FEL) shared on Thursday, it has entered two separate binding agreements with Global Lithium Ltd (ASX:GL1), and Mercury Resources Group Pty Ltd.
Agreements are to dispose of its Pilbara exploration tenure and are for a total cash consideration of AU$550,000, plus a trailing royalty on certain tenements.
As per the announcement, the sale will take place via two separate dealings, expected to be completed in the coming weeks.
As per the Company, FEL will be utilising all the money on its advanced iron ore projects. It will continue to manage the Mercury tenements in return for a management fee.
FEL shares traded at AU$0.049, down 5.770% at 11:40 AM AEST.
Crude oil prices hit multi-year highs amid robust demand
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Crude oil prices rose for five consecutive days to settle nearly US$75 per barrel on Wednesday as US refineries ramp up activity to meet the surging energy demand.
- August delivery Brent crude oil futures traded 0.03% up at US$73.90 per barrel whereas July delivery WTI crude oil futures traded at US$71.66 per barrel, down 0.68% as of 17 June 2021 at 10:12 AM AEST.
- Crude oil inventories fell by around 7.4 million barrels in the week ending 11 June as per the data released by the U.S. Energy Information Administration (EIA) as inventory draw by refineries rose by 92.6%, the highest since January 2020.
- The prices were also buoyed by US Federal Reserve’s forward projections for post-pandemic interest rate hikes into 2023.
- Adding to that, the prices may face pressure in the future due to the supply of Iranian oil in the market as the talks between Tehran and Washington has resumed on Saturday in Vienna.
Cobalt supply needs to be doubled to meet demand
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The supply of strategic metal – Cobalt needs to be doubled by 2030 to meet the surging demand for electric vehicles, as stated by leading commodity trader Trafigura on Wednesday.
- Cobalt is an important ingredient for the manufacturing of batteries used to power electric vehicles.
- The prices of cobalt took a downward move in June 2021, with three months of London Metal Exchange futures trading nearly US$42,535 per tonne as of 17 June 2021, the lowest since February 2021.
- The ease in cobalt prices is attributed to ease in global lockdowns allowing cobalt miners to streamline their operations and balance the disrupted supply by ramping up production.
- Glencore's production jumped nearly 11% to 6.8 thousand tonnes during the first quarter of 2021 and the miner confirmed the output forecast for the year to be around 35 thousand tonnes, 7.6 thousand tonnes higher than the previous corresponding year.
- Cobalt prices have risen more than 30% this year due to strong demand from the electric vehicle sector.
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Bod Australia (ASX:BDA) rises on expansion into the UK through a deal with new online retailers
Bod Australia Limited (ASX:BDA) rose as much as 5.6% to AU$0.380, on track for its best session since 26 May 2021.
The natural skincare and health products maker stated it has broadened its sales footprint in the United Kingdom via two new online retailers.
BDA said two of Europe's leading online retailers to stock its entire range of cannabis-based products in the UK, after an agreement secured by the Company’s exclusive partner Health & Happiness.
Though the stock is down 26.5% this year as of the last close, it was trading 4.166% higher at AU$0.375 per share at 10:40 AM AEST.
Seven West Media (ASX:SWM) sees best day in 3 weeks on strong FY21 forecast
Shares of Australian broadcaster Seven West Media Limited (ASX:SWM) jumped as much as 7.5% to AU$0.430, on track for their best session since 26 May.
The Company shared it expects annual underlying core earnings to range from AU$250 million to AU$255 million, against AU$129.6 million last year, helped by a strong rebound in fourth-quarter advertising revenue.
The firm stated its advertising revenue is estimated to grow more than 45% in the fourth quarter, suggesting a continuing positive momentum into the next quarter.
The Company also sees its net debt between AU$240 million and AU$250 million by the end of fiscal 2021, compared with an initial forecast of AU$270 million to AU$280 million.
The stock is up 21.2% this year, as of the last close.
Sonic Healthcare (ASX:SHL) to acquire Canberra Medical Imaging
Sonic Healthcare Limited (ASX:SHL) shared on 17 June 2021 that it has signed a binding agreement to acquire 100% of Canberra Imaging Group (CIG).
With annual revenues of ~AU$60 million, CIG is a leading radiology practice in Canberra, with branches also located in Goulburn and Queanbeyan in New South Wales.
CIG operates one fully-funded (via Medicare), two partially-funded and two unlicensed MRI scanners and operates one of two private PET CT scanners in Canberra. It is the only private operator of an angiography and interventional day suite in the area.
Settlement of the transaction is expected in the first quarter of FY 2022, and the acquisition will be funded from cash and available debt lines.
The stock SHL was spotted trading 0.899% up at AU$37.020 per share at 10:30 AM AEST.
Centuria (ASX:CNI) announces compulsory acquisition of remaining Primewest securities
Centuria Capital Limited (ASX:CNI) shared today that it has a keen interest in greater than 90% of Primewest securities. It now intends to exercise its right to acquire any outstanding Primewest securities compulsorily.
The Company stated compulsory acquisition would be on the same terms as the Centuria Offer, consisting of an offer consideration of $0.20 cash and 0.473 Centuria securities for each Primewest security.
The compulsory acquisition process, subject to the Corporations Act, is likely to take approximately 4 to 6 weeks.
Meanwhile, the stock CNI was trading 0.755% lower at AU$2.630 per share at 10:15 AM AEST.
Latin Resources (ASX:LRS) secures more tenements in the Lachlan Fold Belt
Latin Resources Limited (ASX:LRS) updated on its various projects and ongoing exploration activities in the highly prospective Lachlan Fold belt of NSW.
Lachlan Transverse Zone - NSW: The Company has secured three new tenements totaling some 570km2 in the heart of the highly prospective NSW Lachlan Fold Belt, near Cadia Mine, and McPhillamys Gold Project.
Gundagai Ni-Cu-PGE Project - NSW: Here, the Company has secured new 165km2 project area in the Gundagai region of central NSW with two new tenement applications.
Yarara Gold Project - NSW: The Company has shared that on-ground prospecting work has started, confirming the 1200m strike length of historic workings at the Peep O’Day prospect in the Ournie Zone.
Meanwhile, the stock LRS was spotted trading last at AU$0.052 per share.
Rhythm (ASX:RHY) to present at MST Access Investor Conference
Rhythm Biosciences Limited (ASX:RHY) shared on Thursday that it has been invited to present at the MST Access Australian Micro & Small Caps Conference 2021.
Rhythm Biosciences is a transformative, predictive diagnostics company, specialising in early cancer detection.
The Company’s lead product, ColoSTAT, is intended to be a simple, affordable, minimally invasive and effective blood test for the early detection of bowel cancer.
Meanwhile, the stock on ASX traded last at AU$0.950 per share.
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