Live ASX News Today
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21st Jun 05:01 PM AEST
EMvision (ASX:EMV) and Metro South Health sign clinical research and Innovation partnership
EMvision Medical Devices Limited (ASX:EMV), a medical device company focused on the development and commercialisation of portable medical imaging technology, announced that it has signed a clinical expertise, research and innovation collaboration with Metro South Health (MSH).
As per the announcement, the objective of this collaboration is to leverage the input of a network of clinical experts to advance and translate EMVision’s novel electromagnetic imaging into commercially successful products that improve patient outcomes.
MSH is the major provider of public health care in Brisbane south side, Logan, Redlands and Scenic Rim regions. It runs five hospitals, including the Princess Alexandra Hospital, Brisbane, Logan Hospital, Queen Elizabeth II Jubilee Hospital, Beaudesert Hospital and a network of community health centres.
The Company shared that any new intellectual property created during the collaboration will vest with EMVision.
The term of the collaboration is one year unless it is renewed and EMVision will contribute AU$215,500 in research funding over the term.
The stock closed 0.664% higher at AU$3.030 per share today.
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21st Jun 04:12 PM AEST
OzAurum Resources (ASX:OZM) sees best day in nearly a month on gold find
Shares of gold explorer OzAurum Resources (ASX:OZM) rose as much as 15.4% to AU$0.15, their highest since 11 June 2021.
The Company stated drilling results from its Mulgabbie North Project in Western Australia have shown significant gold mineralisation.
The stock has posted its biggest intraday percentage gain since 24 May 2021.
The stock has fallen 36.6% so far since its IPO on 8 February 2021 and closed up 7.692% at AU$0.140 per share.
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21st Jun 03:57 PM AEST
Constellation Resources (ASX:CR1) gains as drilling starts at WA project
Nickel explorer Constellation Resources Ltd (ASX:CR1) gained as much as 4.2% to AU$0.375 per share on Monday.
The Company stated it has started drilling at its highly prospective Eyre nickel-copper-cobalt-PGE Orpheus project in Fraser Range of Western Australia.
The stock has posted its biggest intraday percentage gain since 8 June 2021.
CR1 has risen 10.8% this year, as of the last close and was trading at AU$0.365 per share, up 1.388% at 3:30 PM AEST.
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21st Jun 03:57 PM AEST
Australia's gold subindex hits over two-month low on weak bullion prices
Australia's subindex for gold miners AXGD fell as much as about 2% to its lowest since 7 April 2021.
Gold prices registered their worst week in over a year on Friday as the dollar strengthened on the back of the U.S. Federal Reserve's hawkish outlook, though prices recuperated slightly on Monday.
Subindex is on track to lose for the fifth consecutive session.
Gold producer Alkane Resources (ASX:ALK) dropped over 8% in its worst day since 4 May 2021, while peer De Grey Mining (ASX:DEG) fell about 7% to its lowest since 15 April 2021.
The subindex has fallen about 7.5% this year, as of the last close, compared with a 11.9% increase in the benchmark S&P/ASX200 index AXJO.
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21st Jun 03:44 PM AEST
Actinogen Medical (ASX:ACW) rises on progress in Alzheimer's disease drug study
Biotechnology company Actinogen Medical Limited (ASX:ACW) jumped as much as 19.230% to reach AU$0.155 per share at 3:38 PM AEST.
The Company has appointed clinical research organisations Avance Clinical and Paratus Clinical to assist in conduct, management and recruitment of patients for a study of XanaMIA, ACW’s drug to treat patients with Alzheimer's disease.
ACW has also finalised agreement with neuroscience technology firm CogState Limited (ASX:CGS) to utilise its neuropsychological test battery in the XanaMIA study.
The Company had stated earlier in June it was likely to start enrolment of the first patients for the study in July.
ACW has risen over six-fold this year so far.
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21st Jun 02:08 PM AEST
Infinity Lithium (ASX:INF) rises on advisory agreement for Spain project
Shares of Lithium explorer Infinity Lithium Corporation Limited (ASX:INF) gained as much as 10.6% to touch AU$0.094 today.
The Company informed it has entered agreement with Spanish mining firm Promotora de Minas de Carbón SA for mining advisory services for INF's 75%-owned San José lithium project in Spain.
Infinity Lithium stock has posted biggest intraday percentage gain since 11 June.
The stock is down 45.2% this year, as of the last close and was trading 1.177% down at AU$0.084 per share at 2:00 PM AEST.
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21st Jun 01:48 PM AEST
Incannex (ASX:IHL) to engage Vectura Limited to develop formulation for IHL-216A
Clinical stage pharmaceutical development company, Incannex Healthcare Limited (ASX:IHL) announced that it has engaged Vectura Limited to develop the specific formulation for IHL-216A required for clinical trials.
IHL-216A is Incannex’s proprietary inhaled drug for the treatment of traumatic brain injury.
Vectura is a state-of-the-art contract development and manufacturing organisation that specialises in the development and manufacture of inhaled drugs and their associated delivery products.
Vectura has contributed to the formulation and development of 13 successful inhaled medical products with partners and licensees that include Sandoz, Novartis and Bayer.
Meanwhile, as part of the assignment, Vectura will:
- perform formulation screening studies,
- undertake manufacturing process optimisation studies,
- perform a stability assessment on the lead formulation, and
- manufacture a lab scale batch of IHL-216A in support of toxicology studies.
IHL shares were trading at AU$0.260 per share at 1:40 PM AEST.
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21st Jun 01:48 PM AEST
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21st Jun 12:54 PM AEST
Orthocell (ASX:OCC) shares data results of CelGro trial, shares remain watchful
Regenerative medicine company Orthocell Limited (ASX:OCC) announced the first interim data read out of all patients in the CelGro® nerve regeneration trial at 12 months post treatment.
Positive clinical data shows nerve repair with CelGro® following injury to the spinal cord, brachial plexus and other peripheral arm/hand nerves consistently restores arm and hand function.
Patients in the clinical trial suffered traumatic nerve injuries following motor vehicle, sporting and/or workrelated incidents, resulting in partial or total loss of use of their arms and, in more severe cases, their legs and torso as well (quadriplegia). Patients experienced significant pain and were unable to perform basic activities of daily living.
Patients received one or more nerve repairs augmented with CelGro® in one or both upper limbs.
Results showed 75.8% (25 of 33) of nerve repairs resulted in functional recovery of muscles controlled by the repaired nerve.
The stock however, at around 12:40 PM AEST, was trading 4.133% lower at AU$0.580 per share.
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21st Jun 12:41 PM AEST
Swick Mining Services (ASX:SWK) up on strong outlook for drilling business
Shares of Swick Mining Services (ASX:SWK) rose as much as 23.5% to AU$0.210, their biggest intraday percentage gain since 14 August 2020.
The Company stated its drilling business expects to deliver an annual revenue of AU$153 million to AU$156 million and an EBITDA of AU$29 million to AU$31 million.
In fiscal 2020, the Company’s drilling business recorded a revenue of AU$149.6 million and an EBITDA of AU$24.6 million.
The stock has hit its highest level since 14 January.
At around 12:30 PM AEST, the stock SWK was trading 11.764% higher at AU$0.190 per share.
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21st Jun 12:40 PM AEST
RPM Automotive (ASX:RPM) up on deal to buy East Coast Tyre Wholesalers
RPM Automotive Group Limited (ASX:RPM) gained as much as 5.4% to AU$0.390, hitting its highest level since 4 June 2021.
The auto parts dealer has acquired East Coast Tyre Wholesalers for AU$2.6 million to expand its presence in New South Wales, with the deal expected to be accretive to earnings.
RPM stated it remains on track to generate record results in FY21; FY22 group revenue forecast to exceed AU$75 million.
The stock has posted its biggest intraday percentage gain since 3 June 2021 and is up 80.5% this year so far.
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21st Jun 12:39 PM AEST
TNG (ASX:TNG) climbs on deal with Malaysian firm to produce redox batteries
Shares of TNG Limited (ASX:TNG) gained as much as 6.4% to AU$0.067, their biggest intraday percentage gain since 4 June 2021.
The mineral explorer has signed an agreement with a Malaysia-based green hydrogen firm AGV Energy & Technology to develop vanadium redox batteries.
Both the parties will be collaborating on proposed integration of vanadium redox flow batteries with AGV's HySustain technology used to produce green hydrogen and oxygen.
Though the stock is down 30% this year so far, it traded 1.587% higher at AU$0.064 per share at 12:15 PM AEST.
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21st Jun 12:17 PM AEST
Australian miners track global copper prices, hit over two-month low
Aussie miners AXMM decline as much as 1.6%, hitting their lowest since 15 April
The Australian sub-index for miners is set to post its fifth consecutive session of losses today.
The mining subindex takes cues from global copper prices that slipped on Friday, as U.S. Federal Reserve signalled it would begin to tighten monetary policy.
AXMM also follows Chinese coking coal futures that pulled back on Friday after Beijing said it would look into coal prices and crack down on speculations.
Big miners BHP Group Limited (ASX:BHP) and Rio Tinto (ASX:RIO) lost as much as 1.8% and 2.2%, respectively.
AXMM up 6.2% this year, as of the last close.
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21st Jun 12:16 PM AEST
Altium (ASX:ALU) targeting 100,000 active subscribers by 2025
Electronic design software firm Altium Limited (ASX:ALU) shared further details of its plans for electronic industry transformation via a investor presentation today.
Key Highlights-
- ALU is pursuing dominance and transformation from a position of strength.
- The Company estimates by 2025, recurring revenue will rise from around 60% to 80% or higher. Altium 365 and Nexar provide will provide unique opportunities for direct monetisation.
- Altium is focusing on building strategic partnerships with customers transforming digitally to implement enterprise software.
- It is targeting 100,000 active subscribers by 2025.
- Due to Covid-19 and Altium’s pivot to the cloud, achieving its revenue target of AU$500 million became a bit difficult.
- ALU has now split revenue targets into phases – FY21 “pre-vaccine”, FY22 “transition”, and FY23 to FY25 “acceleration to dominance”.
ALU share traded 0.365% up, at AU$35.680 at 12:00 PM AEST.
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21st Jun 12:03 PM AEST
Integrated Research (ASX:IRI) expects significant improvement in H2-FY21 performance
Integrated Research (ASX:IRI) has released its H2-FY21 trading update today.
Key Highlights-
- IRI expects significant improvement in performance for H2 compared to H1.
- Revenue to be between AU$40-45, reported a profit after tax is expected at AU$4-7 million.
- IRI has recognised June as the strongest revenue month with License fee revenue exceeding H1 numbers.
- It has also reported renewal and signing of old and new contracts.
- The Company has recently added new customers with solutions having support for MS Teams and Zoom and shall release Webex enabled option in June.
- A further update is expected in mid-July post-close of FY21.
IRI shares traded 3.421% up at AU$1.965 at 11:47 AM AEST.
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21st Jun 11:50 AM AEST
Urbanise.com (ASX:UBN) achieves a major milestone in PICA Project
Urbanise.com Limited (ASX:UBN) has announced the achievement of a significant milestone of completing the roll-out of its cloud-based ‘Strata’ platform. It has been launched across the majority of PICA Group’s portfolio.
PICA Group is Australia’s leading property service provider. With the launch of Starta, UBN expects an uplift in its annual recurring revenue (ARR).
UBN is believed to grow with this 10 year-long partnership with PICA Group. As per the PICA Group CEO, the implementation Strata platform shall reinforce its’ position as Australia’s leading strata manager.
UBN shares traded 0.313% down at AU$1.595 at 11:45 AM AEST.
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21st Jun 11:43 AM AEST
Dreadnought (ASX:DRE) to divest in Rocky dam gold project
Dreadnought Resources Ltd (ASX:DRE) shared today that it has struck an agreement to divest in the Rocky Dam Gold Project.
DRE will sell its shares to Lycaon Resources Ltd, a pre-IPO company seeking to list on the ASX in December 2021. Dreadnought will receive 500,000 Lycaon shares in return with a 1% net smelter return royalty overall minerals extracted from Rocky Dam.
The divestment will allow DRE to focus on its Kimberley, Mangaroon and Illaara Projects.
DRE shares traded at AU$0.025 on 21 June 2021 at 11:40 AM AEST.
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21st Jun 11:43 AM AEST
ADX Energy (ASX:ADX) gains on ASX after securing an extension for Parta exploration
ADX Energy Ltd (ASX:ADX) has reported securing an 18-month extension for Parta Exploration License in Romania.
The Parta Exploration License surrounds the Iecea Mare production license in Romania for Iecea Mica-1 gas well, drilled in late 2019. The extension will enable ADX to source alternate funding, to acquire a 100 km2, 3D seismic program, deferred earlier. In addition, it will help provide target appraisal opportunities within the Iecea Mare Production license and in the large Parta exploration license.
ADX shares traded 6.666% higher at AU$0.008 at 11:30 AM AEST.
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21st Jun 11:34 AM AEST
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21st Jun 11:27 AM AEST
Iron ore slips after hitting record levels in the last week
Source: © Tbe | Megapixl.com
Iron ore prices slipped after hovering at US$221 per tonne in the last week, the highest since 18 May 2021 amid supply concerns in the top steel-producing nation – China.
- Iron ore prices last traded at US$214.21 per tonne, down 0.22% on COMEX on 18 June 2021.
- Iron ore inventories at Chinese port dropped to the lowest level since February in the last week. The shipment arrivals were lower than the previous week and corresponding previous year.
- The prices of iron ore were under pressure last week due to weaker-than-expected China’s trade data.
- China has imported 89.8 million tonnes of iron ore during last month, significantly lower than the previous year's imports of 98.6 million tonnes in April 2020 and 102.1 million tonnes in March.
- Iron ore prices hit the mark of US$229 per tonne in the current month due to robust demand from the steel industry, but fallen substantially afterward due to China's measures to curb a rapid surge in commodity prices.
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21st Jun 10:55 AM AEST
MetalsTech (ASX:MTC) climbs on increase in gold resource estimate at Slovakia mine
MetalsTech Limited (ASX:MTC) rises as much as 21.3% to AU$0.285, hitting its highest in nearly three weeks.
The gold explorer said 1.54-million-ounce gold mineral resource is estimated at its Sturec project in Slovakia.
MTC stated this is a 44% increase on the previous mineral resource estimate for the project and the Company is now investigating potential for a high-grade bulk underground mining operation there.
The stock has posted its biggest intraday percentage gain since 8 June.
The stock is up 14.6% this year so far and was trading 12.765% higher at AU$0.265 per share at 11:00 AM AEST.
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21st Jun 10:54 AM AEST
Crude oil trades flat after recording significant gains last week
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Crude oil traded nearly flat on Monday during the initial sessions of trade after recording significant gains last week.
- August delivery Brent crude oil futures traded 0.55% up at US$73.61 per barrel and WTI crude oil futures for August delivery traded at US$71.45 per barrel, up 0.22% as of 21 June 2021 at 10:12 AM AEST.
- Crude oil prices gained momentum on the back of investor’s optimism on improved demand outlook amid global economic recovery driven by an intensified vaccination program.
- OPEC and its allies (OPEC+) recently agreed to stick with their plan of gradually easing the supply curbs through July.
- However, rising coronavirus cases in Britain with a new variant of COVID-19 and a stronger dollar has weighed the crude oil prices.
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21st Jun 10:48 AM AEST
Starpharma (ASX:SPL) halts sales of its nasal antiviral spray in UK, shares fall
Shares of drug developer Starpharma Holdings Limited (ASX:SPL) declined as much as 10% to touch AU$1.530 at 10:50 AM AEST, on track for their worst session since 21 April 2020.
The Company stated it has received a correspondence from the UK Medicines and Healthcare products Regulatory Agency (MHRA) regarding specific promotional claims made for the Company’s VIRALEZE anti-viral nasal spray.
The Company stated the correspondence relates to the interrelationship between its product claims and references to SARS-CoV-2 and COVID-19, and its categorisation as well.
SPL on Friday confirmed SPL7013, the active in Company’s antiviral nasal spray VIRALEZE, has potent virucidal activity against the Alpha, Beta and Gamma variant strains of the COVID-19 virus.
The stock is on track for a fourth consecutive session of losses, but up 8.6% this year, as of the last close.
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21st Jun 10:47 AM AEST
Renergen (ASX:RLT) discovers helium at its Evander Prospect, shares go bullish
Natural gas and helium producer Renergen Limited (ASX:RLT) has announced discovery of helium at its Evander Exploration Rights prospect, with a concentration of 1.1% helium identified in the gas.
As per the release, Evander spans approximately 52,000 hectares, with many abandoned holes drilled for coal and gold exploration.
It should be highlighted that Evander is located around 120km from South Africa’s main industrial hub Johannesburg and close to the main gas pipeline.
According to RLT, the well at Evander was drilled many years ago and had no surface infrastructure. As such, the well became waterlogged and is hidden in the middle of planted land. Despite this, the gas is able to overcome the water pressure and is producing 5,000 standard cubic feet per day.
The stock RLT was spotted trading 1.020% higher at AU$1.980 per share at 10:40 AM AEST.
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21st Jun 10:27 AM AEST
Boral (AXS:BLD) gains on sale plans of its North American building products business
Boral Limited (ASX:BLD) rises as much as 4% to AU$7.050, hitting its highest since 4 October, 2018.
The Company stated it will sell its North American building products business to a unit of NYSE-listed Westlake Chemical Corp for $2.15 billion.
Following the sale of the North American business, Boral said its net debt target would fall to AU$1.3 billion from AU$1.5 billion.
The announcement came in a disclosure in response to a bid by Seven Group Holdings in May to buy all the shares in Boral it did not already own, which valued BLD at AU$7.91 billion.
The stock has posted its biggest intraday percentage gain since 1 April 2021 and is the biggest percentage gainer in the benchmark S&P/ASX200 index AXJO.
BLD is up 37% this year, as of the last close, compared with a near 12% increase in the ASX200 index.
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21st Jun 10:21 AM AEST
HSC Technology (ASX:HSC) gets further orders from ADT for AU$1.1 million
Smart home solutions Company HSC Technology Group Ltd (ASX:HSC) shared on Monday that its platinum partner Johnson Controls’ ADT Security Pacific has ordered 3,350 units to be delivered over the next 12 months.
As per the announcement, the revenue generated from these orders is likely to total around AU$1.1 million.
These orders follow ADT’s initial purchase of the HSC Essence Care@home order of 1,400 units.
HSC stock traded last at AU$0.018 per share.
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21st Jun 10:03 AM AEST
Immutep (ASX:IMM) to raise A$60 million to expand its clinical development and manufacturing program
Immutep Limited (ASX:IMM) has secured commitments for AU$60 million via a two-tranche institutional placement which was supported by multiple institutional investors in Australia and offshore.
Immutep will also offer an SPP for eligible shareholders of Immutep to seek to raise a further ~AU$5 million.
As per the release, the ongoing strength of Immutep’s clinical data for efti provides the opportunity to seek to expand the clinical portfolio including a Phase III clinical trial.
The firm is gearing up for Immutep’s autoimmune disease candidate, IMP761 for IND stage.
Meanwhile, the institutional placement will be improving Immutep’s financial flexibility, providing a AU$108 million cash balance and extending its cash runway to the end of CY2023.
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21st Jun 10:01 AM AEST
Bank of Queensland (ASX:BOQ) gets Treasurer’s approval for ME Bank acquisition
Bank of Queensland Limited (ASX:BOQ) announced today that the Treasurer of the Commonwealth of Australia has provided BOQ approval to hold a controlling stake of 100% in Members Equity Bank Limited.
Image: © Tktktk | Megapixl.com
As per the ASX announcement, the Financial Sector (Shareholdings) (Members Equity Bank Limited) Instrument 2021 is expected to be gazetted and take effect in the coming days.
On 22 February 2021, BOQ announced it had entered into an agreement to acquire 100% of the issued share capital in ME Bank for cash consideration of AU$1.325 billion payable at completion. The acquisition was subject to regulatory approval from the Treasurer. This approval was the only condition precedent to completion of the transaction.
Completion is expected to take place on 1 July 2021.
BOQ shares traded last at AU$9.240 per share.
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21st Jun 09:43 AM AEST
Commonwealth Bank (ASX:CBA) strikes a deal with Hollard to sell its general insurance business
One of the four premier banks of the country, Commonwealth Bank of Australia (ASX:CBA) today announced it has entered into an agreement to sell its Australian general insurance business (CommInsure General Insurance) to the Hollard Group.
Image source: © Arliftatoz2205 | Megapixl.com
The Bank’s announcement read that this will be an exclusive 15-year strategic alliance with Hollard for the distribution of home and motor vehicle insurance products to CBA’s retail customers across Australia.
As per the official statement, the transaction consideration includes AU$625 million of upfront consideration, together with deferred payments. Also, Hollard will be making additional investment throughout the 15-year strategic alliance to drive innovation and enhance the customer experience.
CBA will also continue to earn income on the distribution of home and motor insurance products.
Meanwhile, a pre-completion dividend is also expected to be received by CBA.
The stock CBA traded last at AU$103.690 per share.
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21st Jun 08:49 AM AEST
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21st Jun 08:29 AM AEST