Live ASX News Today
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22nd Jun 07:06 PM AEST
Peppermint Innovation (ASX:PIL) closes strong on partnership with ECPay
Shares of fintech company Peppermint Innovation Limited (ASX:PIL) jumped as much as 17.7% to gain AU$0.02 - their biggest intraday percentage gain since 14 May 2021.
The Company stated it has signed a cash deposit acceptance agreement with the Philippines-based third-party electronic payment provider, Electronic Commerce payments, Inc (ECPay).
PIL informed agreement will allow the firm’s online international remittance portal bizmoto's registered agents to physically cash-in money at any of ECPay's partner outlets and stores.
The stock has hit its highest level since June 10.
PIL shares closed 5.882% up at AU$0.018 on Tuesday.
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22nd Jun 04:10 PM AEST
Pursuit Minerals (ASX:PUR) rises on permit to start drilling at prospect
Shares of copper and gold explorer Pursuit Minerals Limited (ASX:PUR) rose as much as 8.7% to AU$0.075 per share on Tuesday.
The Company stated it has received all requisite permits from the Department of Mines, Industry Regulation and Safety to start its drilling program at the Phil's Hill PGE-nickel-copper prospect in Western Australia.
PUR informed it will commence drilling on or around 15 July 2021.
The stock has posted its biggest intraday percentage gain since 3 June 2021.
Though, the stock's price has more than tripled this year, it closed 2.174% down at AU$0.067 per share.
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22nd Jun 03:58 PM AEST
Antisense (ASX:ANP) rises on upbeat regulatory feedback for inhibitor
Biotechnology firm Antisense Therapeutics Limited (ASX:ANP) gained as much as 7.7% to AU$0.210 per share.
The feedback ANP received from the Paediatric Development Committee of the European Medicines Agency on Phase IIb trials for the development of ATL1102 is in line with company's expectations, the firm shared.
ATL1102 is an inhibitor which treats muscular weakness, typically in boys.
The Company stated it recently submitted a fast-track designation request to the U.S Food and Drug Administration and received a positive feedback on design parameters for a U.S Phase IIb/III study of ATL1102.
The stock has posted its biggest intraday percentage gain since 4 June 2021.
ANP has risen 50% this year, as of the last close and was trading 1.282% higher at AU$0.197 per share at 3:50 PM AEST.
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22nd Jun 02:10 PM AEST
Battery Minerals (ASX:BAT) rises on deal to buy copper project in WA
Graphite-focused mineral explorer Battery Minerals Limited (ASX:BAT) climbed as much as 8.8% to AU$0.019 per share on Tuesday.
The Company stated it has agreed to acquire the Russell copper project in the Halls Creek tectonic zone in Western Australia from iCopper Pty.
BAT said it will pay AU$100,000 in cash and issue AU$1 million worth of shares.
The Company is required to make subsequent payments of a further AU$1.5 million in aggregate in cash and shares after 12 months.
The stock has posted its biggest intraday percentage gain since 18 May 2021.
BAT has fallen 15% this year, as of the last close and was spotted trading at AU$0.018 per share, up 5.882% at 1:00 PM AEST.
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22nd Jun 01:49 PM AEST
Blue Energy (ASX:BLU) rises on hydrogen supply agreement
Shares of oil and gas explorer Blue Energy Limited (ASX:BLU) rose as much as about 6% to AU$0.071 per share on Tuesday.
The Company stated it has entered a non-binding MoU to supply hydrogen to coal explorer Stanmore Resources Ltd (ASX:SMR) for Stanmore's activities in the Bowen Basin in Queensland.
The stock has posted its biggest intraday percentage gain since 7 June 2021.
The stock is down about 23% this year so far.
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22nd Jun 01:44 PM AEST
OM Holdings (ASX:OMH) announces cross listing in Malaysia, shares climb
Australia-listed shares of manganese ore and ferro-alloy producer OM Holdings Limited (ASX:OMH) gained as much as 5.5% to AU$0.87 on Tuesday.
The Company stated it debuted on Malaysia's main market, Bursa Securities, at an opening price of 2.72 ringgit per share, which is a 5.84% premium from the listing reference price of 2.57 ringgit per share.
The stock has posted its biggest intraday percentage gain since 11 June 2021.
OMH is up 41% this year so far and was spotted trading 4.848% higher at AU$0.865 per share.
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22nd Jun 01:30 PM AEST
Cedar Woods (ASX:CWP) eyes best session in over a year on upbeat outlook
Residential property developer's shares (ASX:CWP) went up as much as 9.1% to AU$7.11; biggest one-day jump since April 2020.
The Company has recorded presales of about AU$439 million as of 31 May versus AU$360 million as of 30 June 2020.
CWP stated its projects in South Australia and Queensland are experiencing strong sales and the trend is likely to continue into FY22 at company's seven land estates across metropolitan Perth.
Company's shares are at their highest level since 31 May 2021.
The stock is up 4.3% so far this year and at 1:15 PM AEST, it was trading 8.282% up at AU$7.060 per share.
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22nd Jun 01:30 PM AEST
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22nd Jun 01:17 PM AEST
Montem Resources (ASX:MR1) hits record low on regulatory uncertainty over Alberta project
The share price of Coal miner Montem Resources Limited (ASX:MR1) slumped as much as 71.4% to AU$0.02, hit a record low on Tuesday.
The Company stated joint review panel has denied applications for the Grassy Mountain coal project owned by Benga Mining Ltd, adjacent to Montem's assets in Alberta.
Montem stated developmental process for Benga's Grassy Mountain project might be relevant to its operational considerations.
Response from the Alberta energy regulator was unexpected, and it is unclear if the decision will be the subject of an appeal, said Montem.
The company's Tent Mountain mine is due to get an update on whether the project will be designated for review by IAAC on 1 July 2021.
The stock is on track for a fifth straight day of losses.
So far this year, the stock is down 70.2% and at around 1:00 PM AEST, it was trading 57.143% at AU$0.030 per share.
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22nd Jun 01:04 PM AEST
Monadelphous Group (ASX:MND) grabs new contracts, stock gains on ASX
Shares of engineering company Monadelphous Group Limited (ASX:MND) gained as much as 5% to AU$10.35 – their highest since 9 June 2021.
The Company stated it has got a contract with BHP Olympic Dam Corp for smelter campaign maintenance works at Olympic Dam copper mine in Roxby Downs, South Australia.
Monadelphous said that it has secured a contract with NMT International, in partnership with Fagioli, a global heavy lifting services firm, to deliver specialist heavy lifting and haulage services at Iron Bridge Magnetite project in Western Australia.
MND informed its unit in Chile also has got a three-year contract with Codelco, a Chilean state-owned copper mining firm, for operations and maintenance of water infrastructure at Chuquicamata underground mine in Calama.
The Company mentioned the total value of the contracts is about AU$215 million.
Though MND is down 26.8% this year so far, it was trading 1.419% higher at AU$10.000 at 12:40 PM AEST.
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22nd Jun 12:50 PM AEST
Cardiex (ASX:CDX) rises on partnership with LifeQ for new tech on wearable devices
Medical devices maker CardieX Limited (ASX:CDX) gained as much as 10.7% to AU$0.083 on Tuesday.
The Company stated says its unit CONNEQT Inc has partnered with LifeQ, a provider of biometrics and health information metrics from wearable devices.
The Company stated under the partnership LifeQ and CONNEQT will develop wearable devices which will provide clinical and lifestyle related health metrics, insights, and solutions for consumers.
The stock has posted its biggest intraday percentage gain since 8 June 2021.
CDX has risen 33.9% this year so far and was trading 8% higher at AU$0.081 per share at 12:45 PM AEST.
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22nd Jun 12:50 PM AEST
Acrux (ASX:ACR) soars on U.S. FDA nod for generic version of antifungal drug
Acrux Limited (ASX:ACR) gained as much as 39.1% to AU$0.160, on track for its best session since 12 January 2021.
The pharma company said the U.S. FDA has granted approval of Company’s generic version of Jublia, or efinaconazole, in the form of a 10% topical solution.
Jublia is an antifungal drug used for the topical treatment of infections of the nail; ACR noted that Jublia's U.S. sales exceed AU$217 million per year.
The stock has hit its highest since 7 May 2021.
More than 3.1 million shares got traded as compared with the 30-day average volume of about 264,000.
The stock is down 30.3% this year, as of the last close.
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22nd Jun 12:49 PM AEST
Traka Resources (ASX:TKL) jumps on gold find at WA project
Shares of gold explorer Traka Resources Limited (ASX:TKL) gained as much as 25% to AU$0.020, marking their biggest intraday percentage gain since 28 May 2021.
The Company stated resource estimates at the Maori Queen and Sirdar deposits at its flagship Mt Cattlin Gold Project in Western Australia indicated the presence of high-grade gold.
The stock has hit its highest level since 2 June 2021.
Nearly 4 million shares have been traded as compared to the 30-day average volume of ~1.3 million.
The stock is down 23.8% YTD, as of the last close.
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22nd Jun 12:09 PM AEST
Australian gold stocks see best day in over one week as dollar rally pauses
ASX-listed gold stocks AXGD climbed as much as 2%, eye their best day since 11 June 2021.
Image: © Annadrozd | Megapixl.com
AXGD takes cues from gold prices that rebounded on Monday due to a pause in U.S. dollar's rally.
The Australian sub-index for gold miners is set to snap its five-day losing streak today.
Sector heavyweight Newcrest Mining Limited (ASX:NCM) added as much as 1.4%.
The nickel-gold miner IGO Limited (ASX:IGO) is the biggest gainer in the index, up as much as 9.5%.
Silver Lake Resources Limited (ASX:SLR) and Northern Star Resources Limited (ASX:NST) gained as much as 4.3% and 2%, respectively.
AXGD is down 8.3% this year, as of the last close.
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22nd Jun 11:51 AM AEST
IGO (ASX:IGO) sees the best day in over seven months on Tianqi transaction update
Shares of IGO Limited (ASX:IGO) gained as much as 9.5% to AU$7.750, their biggest intraday percentage gain since 11 December 2020.
The Company stated regulatory requirements for the internal restructuring of the Australian arm of Tianqi Lithium Corp to proceed have now been satisfied; IGO aims to complete the transaction on or before 30 June 2021.
IGO said it agreed to share (being 49%) any "unforeseen" tax liability, which may arise from the restructuring of Tianqi Lithium Corp.
Last December, IGO said it would invest AU$1.4 billion in a local unit of Tianqi for a stake in the Greenbushes, the world's largest hard-rock lithium mine.
The stock has hit its highest since 7 June 2021 and is the biggest gainer in the benchmark S&P/ASX 200 index AXJO.
The stock is up ~11% this year, as of the last close and was trading 5.720% up at AU$7.485 per share at 11:40 AM AEST.
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22nd Jun 11:22 AM AEST
Is the rally in copper over yet?
Copyright © 2021 Kalkine Media
Copper is in a downward trend after making a high of US$10,724.5 per tonne on 10 May 2021 on London Metal Exchange (LME). On Monday, 21 June 2021, it reached to US$9,042.5 per tonne. The red metal fell more than 15% in last one month.
- As the prices reach record high for metals including iron ore and copper, China is now trying to put a lid on soaring prices. Recently, Chinese authorities ordered an investigation in iron-ore spot trading. The news of investigation led to the crackdown of iron ore prices in Asian markets.
- The Chinese government had announced that they would sell industrial grade copper from national reserves. The news coupled with Fed’s decision to rate hike is causing dismal performance by the metal.
- Analysts still believe that the rally in copper is fading away. This is a healthy correction in the prices since it soared nearly 150% between March 2020 and May 2021. Investors are expected to start putting money again once the prices stabilise and reignite the rally in the coming months.
- Demand of copper is estimated to remain moderate. The greenfield projects in renewable energy sector and infrastructure projects will keep the copper miners engaged. A boost from traditional market like electricity transmission and construction is anticipated as economic recovery is on track and expected to be more robust in second half of 2021.
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22nd Jun 11:07 AM AEST
Talga (ASX:TLG) signs supply deal with Nordic Battery maker FREYR
Battery anode company Talga Group Ltd (ASX:TLG) announced it has signed a Memorandum of Understanding in relation to the supply of Talga’s Swedish active anode materials (Talnode®) for FREYR’s battery cell production under development in Norway.
Image: © Zhudifeng | Megapixl.com
Talga and FREYR are dedicated to jointly test and potentially develop large scale, sustainable and competitive solutions to help boost the development of local Nordic supply chains for production of clean, low-cost batteries.
Meanwhile, under the MOU, Talga and FREYR will work towards the commercial supply of Talga's Talnode® range of anode materials for FREYR’s planned operations, including customer qualification plant, 5-11 GWh production ramp up and subsequent 32 GWh Giga-factory.
The agreement also includes studies into potential operational synergies such as Talga co-locating operations within FREYR’s production facilities for the scale-up of new anode materials and technologies at industrial level for battery manufacturing.
As per the announcement, the deal is for a term of 2 years and is a non-binding one.
Talga shares traded 2.127% higher at AU$1.440 per share at 11:00 AM AEST.
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22nd Jun 10:58 AM AEST
Tesserent (ASX:TNT) hits two-week high on upbeat forecast
Tesserent Limited (ASX:TNT) gained as much as 12.2% to AU$0.230, hitting its highest since 8 June 2021.
The cyber-security services provider said it will comfortably exceed its prior ambition of annualised turnover run rate of AU$150 million, based on turnover for the month of June annualised.
TNT stated it is now expected that the annualised turnover based on June will be about AU$180 million.
The stock has posted its biggest intraday percentage gain since 8 June 2021.
More than 4.5 million shares got traded, compared with the 30-day average volume of about 2.9 million.
Though the stock is down 38.8% this year so far, it was trading 10.975% higher at AU$0.227 per share at 11:00 AM AEST.
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22nd Jun 10:57 AM AEST
Openpay Group (ASX:OPY) jumps on acquisition of Payment Assist
Shares of Openpay Group Ltd (ASX:OPY) rose as much as 12.411% to reach AU$1.585 at 10:50 AM AEST.
THE Company stated it will acquire Payment Assist Ltd, a BNPL provider to the UK automative sector, for 11.5 million pounds.
The transaction includes an earn-out component of up to 17 million pounds, with completion expected in the first half of FY22.
The stock is down 37.6% this year, as of the last close.
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22nd Jun 10:50 AM AEST
Crude oil jumps on the pause of US-Iran Nuclear deal revival
Source: © Emeraldgreen | Megapixl.com
Crude oil prices soared on Monday due to a pause in the much-awaited decision on the revival of the US-Iran Nuclear deal.
- August delivery Brent crude oil futures traded 0.04% down at US$74.84 per barrel and WTI crude oil futures for August delivery traded at US$72.94 per barrel, down 0.25% as of 22 June 2021 at 9:55 AM AEST.
- Both the benchmarks have recorded gains in past four weeks amid increased optimism over COVID-19 vaccinations. The rebound has boosted the spot prices of crude oil in Europe and Asia to multi-year highs.
- Adding to that, a weaker US dollar has further pushed the crude oil demand. A weak dollar makes oil cheaper for other currency holders.
- The halt in the revival of the 2015 US-Iran nuclear deal on Sunday after the win of Ebrahim Raisi in the presidential election.
- Oil also got support from forecasts of lower US oil production, giving OPEC more power to manage the oil market.
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22nd Jun 10:40 AM AEST
Milton Corporation (ASX:MLT) to merge with Washington H. Soul Pattinson
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Milton Corporation (ASX:MLT) announced today that the firm will merge with Washington H. Soul Pattinson and Company Limited (ASX:SOL) via a Scheme of Arrangement.
The merger will help in the creation of a leading and more diversified Australian investment house. The focus is to continue long-term market outperformance and growth in dividends. It will help MLT to have a significant step-change in market capitalisation of approximately AU$11 billion with increased index participation. It will be a combination of two great investment houses. Milton’s management team will complement WHSP’s existing investment expertise.
MLT shares zoomed up 16.200% on the news and traded at AU$5.810 per share at 10:34 AM AEST.
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22nd Jun 10:26 AM AEST
Antilles gold (ASX:AAU) reports high-grade gold intercepts at Cuban deposits, shares spurt up
Antilles Gold Limited (ASX:AAU) has announced high-grade gold intercepts at La Demajagua gold/silver deposit in Cuba. The intercepts have 17 cored holes, 14 out of which have been analysed to date. Silver is also evident in numerous intercepts.
AAU reported that approximately 2,000kg of drill core would be air-freighted to labs in Australia or Canada by October 2021 for testing. Additional holes will be drilled in August/September 2021, which will be part of the Bankable Feasibility Study. The BFS will be compiled for the La Demajagua mine in Q4 2022.
Backed by the announcement, AAU shares traded 24% higher at AU$0.081 at 10:30 AM AEST.
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22nd Jun 10:26 AM AEST
Prominence Energy (ASX:PRM) to acquire second Patriot hydrogen P2H unit
Prominence Energy Ltd (ASX:PRM) updated today that it has signed a binding term sheet with the Patriot owner to acquire 20% of Patriot Hydrogen Pty Ltd.
The agreement is still subject to completion of the company’s due diligence and shareholder approval. Meanwhile, Patriot has secured its second order for one P2H unit with Sweetman Renewables Limited as well. The sale will take place for one unit at the cost of AU$2.9 million. By delivering this in Q4 2021, Patriot Hydrogen will earn revenue for technology licence fees, service and training fees. It shall also receive a gross sales percentage fee for the Hydrogen, Biochar and Power sale. This will be benefitting PRM.
PRM shares last traded at AU$0.013 on the ASX.
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22nd Jun 10:25 AM AEST
Navarre Minerals’ (ASX:NML) Share Purchase Plan closes oversubscribed
Navarre Minerals Limited (ASX: NML) announced that its Share Purchase Plan (SPP), closed, was oversubscribed on Friday 18 June 2021. The Company received total applications of about AU$4.9 million, over the targeted amount of AU$2 million. Therefore, NML has elected to increase the size of SPP.
Funds raised from the SPP, together with AU$10 million raised from its’ recent Placement, will be used to accelerate its strategy of growing in the Stawell Corridor.
NML last traded at AU$0.100 per share on the ASX.
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22nd Jun 10:22 AM AEST
Little Green Pharma (ASX:LGP) boosts growth strategy, acquires production facility in Denmark
Little Green Pharma Ltd (ASX:LTD) shared on 22 June 2021, that it has acquired world-class, fully-operational GACP cultivation and GMP licenced medicinal cannabis asset in Denmark. This plant has a capacity to produce in excess of 20 tonnes of biomass per annum including 12 tonnes per annum of dried cannabis flower.
Image: © Stokkete | Megapixl.com
Also, LGP announced it has acquired the Denmark Facility for C$20 million.
The acquisition is a clear strategic fit with LGP’s existing operations and capabilities and will immediately provide LGP with additional cultivation and manufacturing capacity and boosting its planned capacity expansion by up to two years.
The Company shared it has got firm commitments to raise AU$27.2 million by way of Placement in connection with the acquisition.
The Placement proceeds will be applied to part fund the acquisition, build the Company’s European team and fund capital expenditure works.
The stock LGP traded last at AU$0.650 per share.
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22nd Jun 09:50 AM AEST
SILK Laser (ASX:SLA) completes A$20 million placement
SILK Laser Australia (ASX:SLA) has shared that the Company has now successfully completed a fully underwritten placement to raise AU$20 million, which will result in the issue of approximately 4.7 million new shares.
SILK Laser is one of Australia’s largest specialist clinic networks offering a range of non-surgical aesthetic products and services.
As per the announcement, Proceeds of the Placement will be used to partially fund the acquisition of ASC Group. This group consists of Beauty Services Holdings Pty Ltd, LMD2 Pty Ltd and their broader group of entities. These units together operate Australian Skin Clinics in Australia and The Cosmetic Clinic in New Zealand.
Completion of the acquisition is expected by the end of August 2021.
The stock SLA traded last at AU$4.600 per share.
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22nd Jun 09:40 AM AEST
Webcentral Group (ASX:WCG) gets credit approval for A$16.6 million debt facility from CBA
Webcentral Group Limited (ASX: WCG) has announced that it has received Credit Approval for a AU$16.6 million Debt Facility from Commonwealth Bank of Australia (ASX:CBA).
As per the announcement, the net proceeds of the Debt Facility will be utilised to partially repay the loan from 5G Networks Limited, the current balance being approximately AU$41 million.
The Debt Facility consists of a AU$15 million Market Rate Loan Facility, a AU$1.5 million Bank Guarantee Facility and a AU$0.1 million Credit Card Facility.
The Debt Facility will also reduce the total borrowing costs of Webcentral with the expected interest rate margin of 4.25%, approximately 0.7% lower than the margin charged on the 5G Networks loan.
The Company announcement read that the term for the facility is three years.
The stock WCG traded last at AU$0.495 per share.
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22nd Jun 08:20 AM AEST