Live ASX News Today
-
24th Jun 05:54 PM AEST
Carnaby (ASX:CNB) sees best day in over one year, finds copper-gold at Greater Duchess
Copper-gold miner Carnaby Resources Limited (ASX:CNB) jumped as much as 33.3% to AU$0.4, marking its biggest intraday percentage gain since 7 April 2020 on Thursday.
The Company stated broad zones of copper-gold mineralisation have been intersected at Greater Duchess Copper Gold Project in Mount Isa, Queensland.
The stock has hit its highest level since 1 June 2021.
Though CNB is down 24.1% this year so far, it closed 16.666% up at AU$0.350 per share.
-
24th Jun 04:34 PM AEST
Next Science (ASX:NXS) slumps on Zimmer complaint over product rights
Shares of medical technology firm Next Science Limited (ASX:NXS) fell as much as 6.1% to AU$1.46 per share.
The Company stated medical instrument maker Zimmer Inc has filed a complaint in a U.S. court regarding global commercial exclusivity rights over Next Science's 'XPerienceTM'.
XPerienceTM is an antimicrobial solution used to prevent surgical infections.
Next Science has denied the allegations and agreed to open negotiations with Zimmer.
NXS has stated Zimmer has indicated that it will not serve the complaint on Next Science pending the outcome of negotiations.
NXS has posted its biggest intraday percentage drop since 15 June 2021.
NXS is down for a second consecutive session; up 24.4% this year, as of the last close and ended today’s session at AU$1.485 per share, down 4.502%.
-
24th Jun 04:32 PM AEST
Bluechiip (ASX:BCT) shares close strong on a settlement agreement with Labcon North America
Shares of wireless tracking solution developer Bluechiip Limited (ASX:BCT) gained as much as 32.258% to end at AU$0.041 per share on Thursday.
The Company stated a $1.6 million settlement has been agreed between BCT and Labcon North America, one of Bluechiip's original equipment manufacturer partners.
Under the resolution, Labcon has agreed to provide Bluechiip with $1.6 million, comprising $850,000 cash payment and return of $750,000 worth of Bluechiip delta tags and products.
The Company said Labcon and Bluechiip have also entered a new supply agreement for new Bluechiip enabled consumables, readers, and software.
BCT will provide Labcon with a credit of up to $1.4 million on sales under this new supply arrangement.
On 16 July 2020, Labcon North America provided notice to terminate the chip supply deal with BCT and filed litigation in the United States District Court for the Northern District of California.
As of the last close, BCT had fallen 29.6% this year.
-
24th Jun 04:06 PM AEST
Catapult (ASX:CAT) eyes worst day in fifteen months on discounted placement
Shares of Catapult Group International Limited (ASX:CAT) dropped 11.9% to AU$1.92, on track for their worst session since 30 March 2020.
The sports analytics firm raised AU$35 million in an underwritten institutional placement via the issuance of about 24.5 million new shares.
Placement is done at an issue price of AU$1.90, a discount of 12.8% to the stock's closing price on 22 June, when it last traded.
CAT said funds raised will be used to acquire sports software video solutions provider, SBG Sports Software Ltd.
The stock is at its lowest since 26 May.
CAT stock is up 17.5% this year so far and closed at AU$2.000, down 8.257%.
-
24th Jun 03:58 PM AEST
Australia's Trajan Group Holdings (ASX:TRJ) rises on loan waiver
Shares of life sciences products and devices maker Trajan Group Holdings Limited (ASX:TRJ) gained as much as 3.4% to AU$2.41 per share.
The Company said it has received waiver of balance of "Paycheck Protection Program" loan of $960,000 from U.S. Small Business Administration (SBA).
Trajan Group Holdings stated as a result of loan forgiveness, the liability will be reversed and recognised as non-operating income in FY 2021 annual accounts.
The stock is on track to post its second consecutive session of gains today.
As of the last close, the stock had gained 17.7% since it started trading on 7 June 2021.
-
24th Jun 02:17 PM AEST
Kazia (ASX:KZA) rises on U.S., India patents for brain tumour inhibitor
Oncology-focused drug maker Kazia Therapeutics Limited (ASX:KZA) gained as much as 3.5% to AU$1.345 per share on Thursday.
The Company stated it was granted patents by agencies in the United States and India for manufacturing process of paxalisib, an inhibitor used to treat brain tumours.
KZA says a similar patent has been accepted in Australia and is expected to proceed to grant in 3Q CY2021.
The stock has posted its biggest intraday gain since 15 June 2021.
KZA is up 12.1% this year, as of the last close.
-
24th Jun 02:17 PM AEST
Australian miners hit a one-week high on stronger commodity prices
Australian mining stocks AXMM rose as much as 1% to mark their highest level since 17 June 2021, as iron ore and copper prices rose after the U.S. central bank pledged to keep interest rates low.
The Index giants Rio Tinto (ASX:RIO), BHP Group Limited (ASX:BHP) and Fortescue Metals Group Limited (ASX:FMG) gained between 1.4% and 1.8%.
Gold and base metals-focused De Grey Mining Limited (ASX:DEG) leads gains on the sub-index; It rose as much as 10.5% and headed for its best session in over seven weeks.
Lithium-boron supplier ioneer Ltd (ASX:INR) gained as much as 12.7% in its sharpest rise since 2 June 2021 after receiving an air quality permit in Nevada, the U.S., for its Rhyolite Ridge project.
AXMM is heading for a three-day winning streak.
The sub-index has gained 7.1% this year versus a 10.8% increase in the ASX 200 index AXJO.
-
24th Jun 02:08 PM AEST
Afterpay (ASX:APT) jumps on plans to expand reach with U.S. merchants
Afterpay Limited (ASX:APT) climbed 7.7% to AU$132.4 as the buy-now-pay-later firm expands its U.S. offering.
APT will let some U.S. users shop at some retailers, including Amazon, that it does not partner with.
The move was taken well by analysts, who had said before that APT may have to explore opening up to merchants outside its network.
APT shares hit their highest level since 2 March 2021.
Rivals such as Zip Co Limited's (ASX:Z1P), Quadpay and Klarna offer similar services to their users.
All U.S. users of APT by fall this year, will be able to shop at 13 large merchants, including CVS, Dell, Kroger, Macy's, Nike, Nordstrom, Nordstrom Rack, Sephora, Target, Victoria's Secret, Walgreens and Yeti.
-
24th Jun 02:01 PM AEST
M8 Sustainable (ASX:M8S) falls to a five-week low on entitlement offer
Shares of waste management firm M8 Sustainable Limited (ASX:M8S) declined as much as 17.2% to AU$0.024, their lowest since 20 May 2021.
The Company announced a 1-for-1 renounceable entitlement offer to raise AU$4.7 million to ramp up steel activities at the Maddington waste processing facility in Western Australia, among others.
The shares issued under the offer will be priced at AU$0.02 apiece, a 31% discount to the Company’s last close on 18 June 2021 after which it went on a trading halt.
M8S will issue about 233.2 million new shares as part of the offer, triple the firm’s 75.9 million shares of free float, as per the Refinitiv data.
The stock has posted its biggest one-day percentage fall in over a month.
The stock has lost 49.1% this year, as of the last close and was trading 6.897% down at AU$0.027 per share at 1:50 PM AEST.
-
24th Jun 01:24 PM AEST
Nuix (ASX:NXL) hits record low as search warrant on individual executed at Sydney office
Australia's technology company Nuix Limited (ASX:NXL) has fallen as much as 3.6% to hit its record low at AU$2.515.
The Company informed a search warrant has been executed at Nuix's Sydney office seeking documents concerning an investigation into the affairs of an individual.
Earlier this month, local media had reported that Australia's financial services regulator has sent notices to Nuix and Macquarie Group (ASX:MQG) relating to a probe into allegations that NXL overstated sales forecasts ahead of its listing on the ASX last year.
On 15 June 2021, Nuix said its CEO and CFO would leave Company amid a share price plunge, outlook cuts.
The macquarie-backed firm has lost more than half its value since listing in December, failing to meet targets set in its prospectus and downgrading revenue forecasts twice since.
Nuix stock is on track to post the fifth consecutive session of loss.
NXL, Australia's biggest IPO of 2020, down 68.4% this year, as of the last close.
-
24th Jun 01:13 PM AEST
Earlypay (ASX:EPY) eyes worst day in four months after placement
Shares of Earlypay Ltd (ASX:EPY) fell as much as 7.3% to AU$0.455, on course for their worst session since 18 February 2021.
The financing solutions provider has received commitments to raise AU$18.857 million via placement.
The share placement at an issue price of AU$0.42 per share, a discount of 12.5% to stock's closing price on 21 June, when it last traded.
The Company stated placement will help fund new trade finance product expansion and strengthen balance sheet.
The stock is at its lowest since 20 May 2021.
More than 820,000 shares have been traded as compared to the 30-day average volume of ~260,000 shares.
The stock is up 29.7% this year, as of the last close.
-
24th Jun 12:57 PM AEST
Woolworths (ASX:WOW) eyes worst session ever after spun-off unit's debut
Shares of Woolworths Group Limited (ASX:WOW) tanked as much as 15.4% to AU$35.955, on track for their worst session ever.
Australia's largest supermarket chain's sharp drop follows the demerger of liquor and hotel company Endeavour Group (ASX:EDV), which debuted on Thursday.
Endeavour opened at AU$6.5 but was trading AU$5.88 soon after, fetching a valuation of around AU$10.53 billion.
Under the demerger, WOW shareholders will receive one share in Endeavour for everyone they already own.
Endeavour was formed in 2019 when WOW combined its drinks and hotels unit.
"In theory, the fall in Woolies should be matched by the rise in Endeavour," said Henry Jennings, senior analyst at Marcustoday Financial Newsletter.
Both WOW and EDV will trade on the ASX 200.
WOW stock at its lowest since 29 June 2020.
However, up to Wednesday, WOW shares are up 8.1% this year.
-
24th Jun 12:56 PM AEST
Janison Education (ASX:JAN) falls on share placement, recovers soon after
Education tech firm Janison Education Group Limited (ASX:JAN) lost as much as 1.7% to AU$0.875, biggest intraday percentage fall since 16 June 2021. The stock though recovered from the loss and was spotted trading 1.123% up at AU$0.900 per share at 12:50 PM AEST.
The Company has raised AU$15 million to accelerate growth plans including investments in product development.
JAN will be issuing about 18.3 million new shares as part of placement. New shares to be issued represent nearly 19% of company's 96.6 million shares of free float, as per the Refinitiv data.
The stock is up 54.8% this year, as of the last close.
-
24th Jun 12:48 PM AEST
Emerald Resources (ASX:EMR) jumps on maiden gold pour at Cambodia mine
Shares of gold explorer Emerald Resources NL (ASX:EMR) rose as much as 12.2% to AU$1.010, heading for their best day since 30 December 2020.
The Company said it has poured the first gold at its 100% owned 1.14Moz Okvau gold mine in Cambodia.
The Gold pour is a process where pure gold is heated to molten temperatures and transformed into gold bars on cooling.
The Company reiterated that production at the Okvau gold project is forecast to be 100,000oz to 110,000oz per annum.
The stock has hit its highest since 15 June 2021 but is down ~6% YTD, as of the last close.
As of 12:30 PM AEST, the stock was trading 3.333% up at AU$0.930 per share.
-
24th Jun 12:38 PM AEST
Australian tech stocks track record-high Nasdaq close, hit over 4-month high
Aussie tech stocks AXIJ jumped as much as 2.8%, hitting their highest since 22 February 2021.
AXIJ stock is set to post its sixth consecutive session of gains.
The Australian tech sub-index took cues from overnight record-high close in Nasdaq.
Buy-now-pay-later giant Afterpay Limited (ASX:APT) is the biggest gainer in the sub-index, jumped as much as 5.9%.
Aerial mapping firm Nearmap Limited (ASX:NEA) and network operator Megaport Limited (ASX:MP1) added as much as 4.7% and 3%, respectively.
AXIJ is up 0.8% this year, as of the last close.
-
24th Jun 12:36 PM AEST
Meteoric Resources (ASX:MEI) climbs on striking thick sulphide zones at Brazil project
Meteoric Resources NL (ASX:MEI) gained as much as 10.416% to AU$0.053 per share at 12:00 PM AEST and is on track for its best session since 23 February 2021.
The diversified minerals explorer said drilling at its Juruena project in Brazil has intersected multiple thick zones of sulphides.
The firm added that the Company has intercepted this potential mineralisation much earlier than anticipated in an area where there is virtually no historic drilling.
The stock has hit its highest since 15 June 2021 but it is down 36% this year so far.
-
24th Jun 12:21 PM AEST
Australia's Woomera Mining (ASX:WML) rises on gold find at WA project
Shares of Woomera Mining Limited (ASX:WML) gained as much as 5.3% to AU$0.020 per share on Thursday.
The gold explorer stated drilling at the Three Bears gold prospect of its Mt Venn JV project in Western Australia showed significant gold mineralisation.
“We are only scratching the surface of what we consider to be an extremely prospective, large scale gold prospect,” said WML Managing Director Kevin Seymour
The stock is down ~27% YTD, as of the last close.
-
24th Jun 12:10 PM AEST
BHP plans to double its exploration budget
Source: © Transversospinales | Megapixl.com
The world's leading resource company, BHP Group plans to double its exploration budget for base metals in the next five years.
- The miner is expected to record bumper profits in August on the back of the iron ore rally. However, the pipeline for new projects is thin.
- The miner is also expected to make a final decision on Canada's Jansen potash project. BHP wants to raise its exposure to new economy minerals which are considered as the cornerstone of the world's clean energy transition.
- The miner has also teamed up with Midland Exploration to explore nickel in Quebec’s Nunavik region.
-
24th Jun 12:04 PM AEST
Oil hits US$76 per barrel on tight supplies from the US
Source: © Emeraldgreen | Megapixl.com
Brent Crude oil prices hit US$76 per barrel on Wednesday for the first time since 2018 amid tight supplies from the US.
- August delivery Brent crude oil futures traded 0.09% down at US$75.31 per barrel, and WTI crude oil futures for August delivery traded at US$73.17 per barrel, up 0.12% as of 24 June 2021 at 11:07 AM AEST.
- US inventories decline by 7.6Mb in the last week as per the U.S. Energy Information Administration (EIA) data.
- OPEC and its allies, together known as OPEC+, plans to increase production gradually from August. However, no decision is made till now.
- The group is already supplying 2.1Mbpd to the market from the start of May through July to meet the surging energy demand.
- A fall in the US dollar also boosted oil prices. A lower dollar makes crude oil economical 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 also buoyed oil prices.
-
24th Jun 12:04 PM AEST
Bathurst (ASX:BRL) sees best day in over 5 months on upbeat FY profit forecast
Shares of coal miner Bathurst Resources Limited (ASX:BRL) gained as much as 14.5% to AU$0.355, marking their biggest intraday percentage gain since 18 January 2021.
The Company stated it will exceed its FY21 EBITDA outlook of AU$55.4 million, following an increase in price of premium low-volume hard coking coal benchmark, which drives the Company’s export coal pricing to $110/tonne.
The Company stated its financial performance also profited from continued strong market demand for coking coal.
The stock has hit its highest since 5 May 2021.
The stock is down 20.5% this year so far but was trading 4.828% higher at AU$0.325 per share at 11:30 AM AEST.
-
24th Jun 11:32 AM AEST
-
24th Jun 11:18 AM AEST
Singular Health (ASX:SHG) rises on medical file transfer system launch
Singular Health Group Ltd (ASX:SHG) gained as much as 6.4% to AU$0.335, on track for its best session since 10 June 2021.
The medical tech firm stated it has released the first publicly available version of its Medical File Transfer Protocol (MFTP), which is based on blockchain technology.
The Company said MFTP provides a secure and auditable method for the transfer of medical images between practitioners and patients.
The stock has hit its highest since 16 June 2021. However, it is down 17.1% since its listing in February this year, as of the last close.
-
24th Jun 11:14 AM AEST
Centaurus (ASX:CTM) reports high grade results at Jaguar Project
Centaurus Metals Limited (ASX:CTM) has shared that ongoing resource development and extensional drilling at the 100%-owned Jaguar Project had delivered more high-grade results.
The Jaguar Nickel Sulphide Project is located in northern Brazil, and the current results have set the project on a path to significant resource growth.
As per the announcement, multiple thick and consistent high-grade nickel sulphide intersections have been found, highlighting the Jaguar project’s outstanding growth potential. As per CTM, mineralisation is even consistent with the current resource interpretation, showing the robust nature of the existing resource at Jaguar.
Meanwhile, CTM’s four-diamond rigs are on double-shift site drilling, while three additional diamond rigs are expected to arrive before the end of June to support drilling planned for 2021. One RC rig is on-site drilling at the Leão Prospect; CTM’s first extensive pipeline of greenfields targets.
As per CTM, it currently has a strong cash position of AU$21 million to drive ongoing drilling activities.
CTM shares traded at AU$0.690, down 1.429% at 11:00 AM AEST.
-
24th Jun 11:08 AM AEST
Adveritas (ASX:AV1) secures new contracts in June-quarter, shares climb
Adveritas Limited (ASX:AV1) gained as much as 9.4% to AU$0.105, hitting its highest since 17 June 2021.
The marketing company shared it has signed a number of new contracts with customers during the June quarter, with the combined annualised revenue of these contracts adding over AU$350,000 to the Company’s revenue base.
AV1 stated that currently it has a large number of potential customers on trial for its fraud prevention software TrafficGuard's pay-per-click product as well its mobile ad fraud product.
The stock has posted its biggest intraday percentage gain since 15 June.
The stock is down 50.8% this year, as of the last close.
-
24th Jun 10:49 AM AEST
Acrow Formwork (ASX:ACF) climbs as its industrial services arm eyes strong growth
Acrow Formwork and Construction Services Limited (ASX:ACF) gained as much as 7.1% to AU$0.375, on track for its best performance since 30 November 2020.
The formwork and scaffolding firm stated its industrial services division's FY21 revenue is set to grow by 103% versus last year, and is targeted to increase by 42% in FY22.
ACF added that it has secured an industrial services contract with the Visy Australia – Tumut Kraft Paper Mill, for a period of three years, with the contract expected to generate revenue of about AU$2.5 million per annum.
The stock has hit its highest since 7 May 2021 and more than 500,000 shares have been traded already as compared to the 30-day average volume of about 275,000.
However, the stock is down 6.7% this year, as of the last close.
-
24th Jun 10:43 AM AEST
Pilbara Minerals (ASX:PLS) reports significant assay results at Pilgangoora Project, shares up 3.5%
Pilbara Minerals Limited (ASX:PLS) has reported further significant assay results from current exploration and resource extension drilling at its 100%-owned Pilgangoora Project.
PLS targets optimise and grow future pit inventory with its drill program in the under-explored region.
Initial results from the program have located zones of high-grade pegmatite mineralisation. Mineralisations have been found adjacent to adjacent to the historical Altura tenement boundary.
PLS has completed 10,158 meters of drilling with an extension to the initial program currently underway. A New near-surface pegmatite domain has been identified, suggesting a lower strip ratio at potential mine pit inventory of South Pit.
As per PLS, the drilling continues, with Pilgangoora Project being on track for delivery in the September quarter of 2021.
PLS shares traded 3.5% up, at AU$1.540 at 10:36 AM AEST.
-
24th Jun 10:39 AM AEST
Wisr (ASX:WZR) concludes an oversubscribed Share Purchase Plan offer, shares up 2%
Wisr Limited (ASX:WZR) announced the conclusion of its Share Purchase Plan (SPP) offer. The offer was announced to ASX on 1 June 2021.
WZR received subscriptions over AU$10 million for the SPP. However, it elected to maintain its original offer cap of AU$5 million. Therefore, WZR has planned to scale back SPP applications proportionally, to approximately 46% of application value, with no guaranteed minimum allocation.
WZR will issue about 20 million new fully paid ordinary shares to SPP applicants; these will be ranked equally as existing shares. The new shares will be issued at AU$0.25 each.
The SPP complemented WZR’s recent placement to sophisticated and institutional investors for raising AU$50 million. WZR said that it would use the proceeds of both SPP and Placement to fund loan book growth, technology investment and expansion in addressable markets.
WZR shares traded 2% up, at AU$0.255 at 10:30 AM AEST.
-
24th Jun 10:38 AM AEST
Why Latin Resources (ASX:LRS) shares are trading higher today?
Latin Resources Limited (ASX:LRS) shared on 24 June 2021 that recently received results from first pass reconnaissance rock chip sampling from the Peep O’Day Prospect within the NSW Yarara JV Project, has confirmed the presence of gold mineralisation in the area.
The Company release stated that a total of 57 samples were collected in the field by Latin’s Geological team as a part of the first pass reconnaissance mapping exercise, which showed the area was dominated by altered granitic rocks, cut through by a stockwork of sheeted quartz veins. Samples were taken from both the veins themselves and the altered wall rock, both of which have returned anomalous gold mineralisation.
According to the Company assay results from samples along the strike extent of the workings have shown distinct clusters of gold mineralisation.
In total, approximately 30% of the samples collected have returned gold grades greater than 1.0 gram per tonne with some of the better results from the individually sampled veins.
Meanwhile, the stock LRS was spotted trading 4% up at AU$0.052 per share at 10:30 AM AEST.
-
24th Jun 10:24 AM AEST
Althea (ASX:AGH) enters South African cannabis market worth US$667 million
Althea Group Holdings Limited (ASX:AGH) announced its successful first shipment of Althea medicinal cannabis products to its local partner in South Africa.
The legal medicinal cannabis industry in South Africa is estimated to be worth approximately US$667 million by 2023. The market there represents an enormous opportunity for AGH, and initial shipment will provide an early mover advantage.
Althea is among the world’s leading cannabis-based medicine brands. It has a sizeable market share across Australia, the United Kingdom and Germany.
AGH’s exclusive distributor in South Africa, Africann, is a licensed cannabis wholesaler specialising in the import and distribution of medicinal cannabis products in South Africa.
The entry into the South African market is a crucial move towards becoming the world leader of cannabis-based medicine supplies.
AGH shares opened 1.492% up at AU$0.340 per share today.
-
24th Jun 10:13 AM AEST
A$40 million share placement moves Arafura (ASX:ARU) closer to production
Arafura Resources Limited (ASX:ARU) has announced that it has received firm commitments to raise around AU$40 million under a placement of fully paid ordinary shares via two tranches, at an offer price of AU$0.12 per share.
The Company shared it is also offering to raise around AU$5 million under a share purchase plan (SPP) at same offer price.
The proceeds, as per the announcement, will be used to start FEED activities at the Company’s Nolans Project and for general working capital purposes.
ARU shares traded last at AU$0.170 per share.
-
24th Jun 10:08 AM AEST
Peninsula Energy (ASX:PEN) completes share purchase plan, raises AU$2 million
Peninsula Energy Limited (ASX:PEN) reported the successful completion of its Share Purchase Plan (SPP) to eligible shareholders. It has raised a total of AU$2 million from this SPP.
The SPP was announced on 28 May 2021, after an institutional & HNI placement. The SPP allowed each eligible shareholders to subscribe up to AU$30,000 worth of new ordinary shares, subject to any scale back. It closed on Friday 18 June 2021 with 600 applications, making over AU$7.6 million in SPP Shares.
The strong demand for SPP has imposed a scale-back of valid applications from eligible shareholders. Accordingly, valid applications were scaled back on a pro-rata basis and excess application will be refunded. The SPP Shares will be issued by PEN on 29 June 2021. These will commence trading on 30 June 2021.
After the conclusion of the Placement and SPP, PEN will have a total of approximately 996,018,292 shares on issue.
PEN shares last traded at AU$0.145 per share.
-
24th Jun 10:08 AM AEST
AF Legal Group (ASX:AFL) strikes a deal to acquire Kordos Lawyers
AF Legal Group Ltd (ASX:AFL) shared that it has signed a binding heads of agreement to acquire 100% of the assets of Kordos Lawyers.
As per the announcement, for past 16 years, Berger Kordos has been a leading Melbourne Family Law Firm when they demerged from a National firm. Due to the retirement of the Berger Kordos partnership, Bill Kordos has continued the work and tradition of Berger Kordos under his firm Kordos Lawyers.
The firm has offices in the Melbourne CBD and will merge 6 lawyers into the AFL business including 3 accredited specialists.
The team at Kordos Law has historically serviced over 150 clients each year and generated AU$2.5 million in revenue per annum.
AFL shares last traded at AU$0.590 per share.
-
24th Jun 08:22 AM AEST