Live ASX News Today
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30th Jun 06:17 PM AEST
Hummgroup (ASX:HUM) launches its BNPL product in UK
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Payments company with leading offerings in buy now pay later, humm group limited (ASX: HUM) shared that it has launched its buy now pay later (BNPL) product humm in the United Kingdom.
As per the ASX release, humm UK gives customers the opportunity to take control of their finances by converting purchases into instalments payable fortnightly, all with clear payment terms.
In the first stage of the Company’s international expansion, humm UK will leverage humm Ireland’s strong network of more than 1600 retail partnerships as the only BNPL player in that market. Many of these retailers operate in the UK and have welcomed humm’s unique proposition as the only BNPL provider that can service both markets.
humm UK will be focused on partnering with merchants in the home and home improvement, health, automotive and luxury retail verticals where current annual spend is estimated to be just under A$200b.
With retail spend in the UK of AU$778 billion, there is also a sizeable market opportunity for humm UK in other verticals.
The stock HUM closed at AU$0.990 per share today.
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30th Jun 06:15 PM AEST
Nutritional Growth Solutions (ASX:NGS) surpasses US$500k of Healthy Height® sales in Italy since March debut
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Nutritional Growth Solutions Ltd (ASX:NGS), a global nutrition company that creates scientifically formulated and clinically proven supplements to support growth development in children, has surpassed US$500,000 in wholesale sales for its Healthy Height® shake range in Italy since its debut in March this year.
Over the three-month period, Nutritional Growth Solutions has received revenue from three purchase orders totaling US$508,000 from its exclusive distribution partner in the region, Dicofarm. Dicofarm distributes Healthy Height® by the name ‘Dico Up’ to pharmacies and health food stores across the nation.
Italy was chosen as a launchpad into the European market due to the country’s large child population of 8.2 million under the age of 14. Dico up has been assigned an insurance billing code in Italy that allows for buyers to submit claims for reimbursement from health insurers.
Backed by the news, the stock NGS closed 17.073% up at AU$0.240 per share today.
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30th Jun 05:09 PM AEST
ASIC conducts investigation regarding insider trading by Nuix (ASX:NXL) officials, shares plunge
Nuix Limited (ASX:NXL) has confirmed on 30 June 2021 that Australian Securities & Investments Commission has started investigating into allegations of insider trading and dealing with proceeds of crime.
The Company posted a confirmation on the ASX saying that ASIC is investigating in relation to Nuix’s former CFO, Stephen Doyle, Ross Doyle and Ronald Doyle.
NXL also shared that ASIC’s Financial Reporting and Audit Enforcement Team (FRAET) has started a separate investigation into the affairs of Nuix specifically, suspected contraventions of sections 296, 344 and 1308 of the Corporations Act in relation to the financial statements of Nuix for the periods ending 30 June 2018, 30 June 2019 and 30 June 2020. The complaint has been lodged with ASIC.
The NXL shares closed considerably down by 12.993% at AU$2.210 per share.
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30th Jun 03:02 PM AEST
Apiam Animal Health (ASX:AHX) rises on deal to buy assets of Scenic Rim Vets
Shares of Apiam Animal Health Limited (ASX:AHX) climbed as much as 4.4% to AU$0.960, their biggest intraday percentage gain since 18 May 2021.
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Veterinary care provider stated it will buy assets of Queensland-based Scenic Rim Vets for AU$16 million.
The Company said Scenic Rim Vets operates an equine clinic in Beaudesert and a mixed animal clinic in Boonah.
The stock is set to snap three straight sessions of losses and has risen 42.6% this year so far.
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30th Jun 03:02 PM AEST
Iodm (ASX:IOD) jumps more than 30% on new contract
Shares of Iodm Limited (ASX:IOD) soared as much as 31.8% to AU$0.290, their highest since 22 October 2019.
The cloud-based software-as-a-service provider informed it has signed transactional contract with Western Union Business Solutions (WUBS) in the UK.
The Company stated contract allows WUBS to provide the IODM platform to existing and new clients in the education sector in the UK.
The stock has posted its biggest intraday percentage gain since 25 March 2020.
Nearly 984,200 shares got traded as compared to the 30-day average volume of ~129,900 shares.
The stock had risen 37.5% this year, as of the last close and was trading 25% up at AU$0.275 per share at 2:50 PM AEST.
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30th Jun 02:43 PM AEST
Australia's First Graphene (ASX:FGR) hits over 4-month high on NZ distribution deal
Shares of First Graphene Limited (ASX:FGR) jumped as much as 5.4% to AU$0.295, their highest since 17 February 2021 after the Company said it has signed a distribution agreement with Auckland-based GtM Action Ltd.
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The graphene products maker said the agreement will provide the distribution of its PureGRAPH product line in New Zealand's concrete market.
Nearly 1.9 million shares have been traded so far as compared to the 30-day average volume of ~443,000 shares.
The stock has risen 12% this year, as of the last close.
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30th Jun 02:39 PM AEST
Australia's LiveHire (ASX:LVH) jumps after winning contract with U.S. firm
Talent management tech firm LiveHire Limited (ASX:LVH) rose as much as 9.3% to AU$0.410, their highest since 13 April 2021.
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The Company shared it has won a managed direct sourcing contract along with an unnamed unit of a private U.S. firm.
LVH stated partner High5 will provide recruitment services using LVH's software to the client. The Company also informed the client is a global automotive business.
LVH expects revenue to be in line with other similar sourcing contracts.
LVH has posted its biggest intraday percentage jump since 11 June 2021 and is set for a third straight session of gain today.
The stock is up nearly 30% this year, as of the last close and was spotted trading 6.666% higher at AU$0.400 per share at 2:20 PM AEST.
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30th Jun 01:29 PM AEST
Kingsgate (ASX:KCN) signs Letter of Intent for A$69 million sale of Nueva Esperanza
Kingsgate Consolidated Limited (ASX:KCN) has announced that it has signed a non-binding Letter of Intent with TSXV-listed TDG Gold Corp outlining terms for the acquisition of the Company’s Nueva Esperanza advanced gold-silver exploration and development project. This is located in the Maricunga Belt of the Atacama Region of Northern Chile.
The total value of the deal is approximately AU$69.1 million and is a combination of cash and equity, that will both strengthen Kingsgate’s balance sheet, and importantly retain ongoing exposure to the gold and silver markets.
The key details of the deal:
- C$25 million of cash payable to Kingsgate upon completion of the transaction;
- Kingsgate will be issued 14.0% of TDG’s outstanding common shares calculated on a post-closing basis.
Meanwhile, the stock KCN was spotted trading 1.150% down at AU$0.860 per share at 1:18 PM AEST.
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30th Jun 12:49 PM AEST
Aussie gold stocks hit near three-month trough on bullion weakness
Australia's gold stocks AXGD slipped as much as 1% to their lowest since 7 April 2021, on course for a third straight session of losses.
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The index tracks weakness in bullion prices ahead of U.S. jobs data later this week that could reinforce the Federal Reserve's hawkish stance.
Sector heavyweight Newcrest Mining Limited (ASX:NCM) fell as much as 2.1%. Ramelius Resources (ASX:RMS) and Northern Star Resources Limited (ASX:NST) lost up to 1.4% and 1.5% respectively.
AXGD is down 8.8% this year, as of the last close.
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30th Jun 12:42 PM AEST
Coal miner TerraCom (ASX:TER) tracks best day since mid-May on debt relief
Shares of Australia's TerraCom Limited (ASX:TER) soared nearly 23% to AU$0.135, on track for their best day since 13 May 2021.
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The stock has hit its highest level since 17 May 2021.
TER said that its debt holders had agreed to delay payments by six weeks, allowing it to finalise a new debt facility of up to AU$215 million.
Coal miners are finding it increasingly difficult to secure financing and insurance as a global push towards clean energy pressures their backers to break away from fossil fuels.
About 3 million shares have been traded so far as compared to their 30-day moving average volume of about 696,000 shares.
Shares were on a trading halt since Monday.
Up to last Friday's close, stock had lost over a third of its value this year.
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30th Jun 12:34 PM AEST
Novatti (ASX:NOV) enters share purchase agreement to acquire 15% stake in Reckon (ASX:RKN)
Software firm Novatti Group Limited (ASX:NOV), is pleased to announce that it has entered into share purchase agreements for the acquisition of an equity interest of at least approximately 15% in ASX-listed Reckon Limited (ASX:RKN).
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Reckon is a leading provider of accounting, expense management and scanning/print management software for over 100,000 SME clients globally.
The Company entered a trading halt this morning to undertake a capital raising, part of the proceeds of which are intended to fund the acquisition of the Strategic Stake.
The share purchase agreements for the acquisition of the Strategic Stake will complete after completion of the Capital Raising.
Under the share purchase agreements, Novatti will acquire the Strategic Stake at a price of AU$1.00 per Reckon share from institutional investors for a total amount of approximately AU$17 million.
Meanwhile, stock RKN was spotted trading 21.019% higher at AU$0.950 per share while NOV was trading at AU$0.640 per share at 12:20 PM AEST.
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30th Jun 12:17 PM AEST
ioneer (ASX:INR) seals deal for Lithium Offtake with Korea’s EcoPro Innovation
ioneer Ltd (ASX: INR), an emerging lithium–boron supplier, today announced that it has signed a binding offtake supply agreement with EcoPro Innovation Co Ltd.
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The agreement is for three years, under which ioneer will supply EcoPro with lithium carbonate from its Rhyolite Ridge LithiumBoron Project in Nevada. The condition precedent of the Agreement is ioneer’s final investment decision.
Under the Agreement, ioneer will deliver up to 7,000 tonnes per annum of lithium carbonate to EcoPro over a three-year term. The 7,000 tpa comprises an initial and firm 2,000 tpa and an additional and optional 5,000 tpa.
EcoPro expects to convert ioneer’s lithium carbonate into high purity lithium hydroxide at its cathode plant to meet its customers’ requirements.
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ioneer is expected to produce an annual average of approximately 20,600 tonnes of lithium carbonate, or approximately 22,000 tonnes of lithium hydroxide, along with approximately 174,400 tonnes of boric acid per year over the 26-year mine life.
The dual production of lithium and boric acid allows ioneer to not only produce lithium in the US, but to do so at the very bottom of the global cost curve. ioneer anticipates commencing production in late 2023.
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30th Jun 11:15 AM AEST
Copper prices tumble on a stronger dollar and rising COVID-19 cases
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Copper prices tumbled on Tuesday, recording a fourth-day consecutive fall as rising coronavirus cases boosted the dollar and paused the speedy recovery of various economies, while the supply glut of the metal also dimmed its appeal.
- September delivery copper futures traded 0.26% up at US$4.269 per pound as of 30 June 2021 at 10:48 AM AEST.
- Rising COVID-19 cases strengthened the dollar, making copper more expensive for global buyers, holding currencies other than the US dollar.
- The stronger dollar has pushed the prices lower by 13% in May 2021, after the US Federal Reserve shocked the market with a hawkish tilt.
- Copper stocks in the London Metal Exchange affiliated warehouses dipped 1,350 tonnes to 197,025 tonnes. However, it is still 160% higher than the previous year's records.
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30th Jun 11:08 AM AEST
Telstra (ASX:TLS) sells 49% of Towers business for AU$2.8 billion
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Telstra Corporation Limited (ASX:TLS), the telecommunications carrier, reported the sale of 49% of its Tower’s business for AU$2.8 billion on 30 June 2021.
A consortium comprising the Future Fund, Commonwealth Superannuation Corporation and Sunsuper will become strategic partners in Telstra InfraCo Towers on sale. Its Towers business is the largest mobile tower infrastructure provider in Australia, with approximately 8,200 towers.
The transaction value was at AU$5.9 billion, representing 28x of pro forma EV/EBITDA multiple for FY21.
Telstra expects net cash proceeds after transaction costs of AU$2.8 billion and the Towers entity to be debt-free.
The completion is expected in the first quarter of FY22 by TLS. It intends to return approximately 50% of net proceeds to shareholders in FY22. The sale is a significant milestone and an acceleration of Telstra’s strategy to unlock value in its assets. TLS said it would preserve strategic differentiation in mobiles and protect its network leadership even after the sale.
TLS shares traded 4% up on ASX at AU$3.7 at 10:43 AM AEST.
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30th Jun 11:08 AM AEST
Paradigm (ASX:PAR) responds to US FDA’s questions, shares soar
Paradigm Biopharmaceuticals Limited (ASX:PAR), the drug company, reported that the US Food and Drug Administration (FDA) had received Paradigm’s responses to questions on its Investigational New Drug (IND) application.
Paradigm said that it consulted multiple experts, including a US board-certified pre-clinical toxicologist and a senior former FDA physician. PAR undertook consultations to review and ensure the document contains sufficient information and is completely responsive to the questions raised by FDA. PAR believes the input of experts increased the likelihood of PAR meeting the FDA requirements for proceeding.
The FDA is now expected to review PAR’s responses and revert over the next statutory 30-day period. PAR ensured stakeholders that it would notify the market of the outcome by the FDA.
Meanwhile, PAR has progressed pre-clinical studies in two new indications. The new studies are for acute respiratory distress syndrome (ARDS) and heart failure at study centres in Australia and Europe. It continues to execute its disease-modifying osteoarthritis clinical trial as well. PAR has also filed two new patents over the use of PPS in new clinical indications with high unmet clinical needs.
PAR shares traded 6.701% up at AU$2.070 per share at 10:45 AM AEST.
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30th Jun 10:53 AM AEST
Oil prices steady on high demand hopes and coronavirus worries
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Crude oil prices steadied on Tuesday on expectations of demand recovery and rising cases of new coronavirus' variants.
- September delivery crude oil futures traded 0.04% up at US$74.70 per barrel whereas August delivery WTI crude oil futures traded 0.75% up at US$73.53 per barrel as of 30 June 2021 at 10:19 AM AEST.
- Crude oil demand in 2021 was anticipated to grow by 6Mbpd with more than 83% attributed to the second half of the year.
- OPEC's demand forecast shows that the supply is expected to fall short of demand by 2.2Mbpd, providing room for producers to add output.
- However, the prices have been weighted due to the travel restrictions imposed due to the new outbreak of the Delta variant of coronavirus.
- Spain and Portugal imposed new restrictions on non-vaccinated Britons. At the same time, Australia also faced tighter curbs amid fast-spreading viruses across the country.
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30th Jun 10:48 AM AEST
Sayona (ASX:SYA) gets court approval for NAL acquisition, shares trade strong on ASX
Emerging lithium producer Sayona Mining Limited (ASX:SYA) has achieved a major milestone in its Québec expansion, following court approval for its joint bid with Piedmont Lithium for North American Lithium (NAL).
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The Superior Court of Québec has granted an approval and vesting order regarding the Company’s joint bid with Piedmont Lithium Inc. for the acquisition by Sayona Québec Inc. of NAL.
Share Purchase Agreement
Under the Share Purchase Agreement, at completion of the transaction, Sayona Québec will acquire all the issued and outstanding shares of NAL, which will keep substantially all its assets. The order says that the NAL assets will be free and clear of any encumbrances.
Total cash consideration is approximately C$94,400,000, subject to final adjustments at transaction closure.
SYA shares were trading 17.567% higher at AU$0.087 per share at 10:40 AM AEST.
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30th Jun 10:26 AM AEST
AML3D (ASX:AL3) receives purchase contract from Boeing, shares surge
AML3D Limited (ASX:AL3) has announced that it had received a purchase contract from The Boeing Company for 3D printing a tooling component.
Boeing is a global aerospace leader and top US exporter.
AL3 has received a purchase contract from Boeing to supply an Invar-361 ‘mandrel tool artifact’, using the AL3’s proprietary Wire Additive Manufacturing (WAM®) process. The contract is on standard commercial terms. It is reported to be initially for one artifact. Boeing is expected to test AL3’s mechanical properties, internal soundness, vacuum integrity and ability to produce specifications.
Although the part being manufactured is of a value below AU$50,000, it has high significance for AL3. The purchase contract from Boeing is vital for AL3, given the size and credibility of the counterparty. AL3 said that it expects potential commercial benefits of future collaborations with the Boeing group.
AL3 shares surged 19.444% at AU$0.215 at 10:20 AM AEST.
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30th Jun 10:11 AM AEST
Strategic Elements (ASX:SOR) powers Bluetooth sensor device with moisture
Strategic Elements Ltd (ASX:SOR) has reached a crucial development milestone with its moisture powered battery successfully powering an IoT device outfitted with both temperature and humidity sensors and onboard Bluetooth communication.
The advanced graphene oxide-based battery ink technology enables extremely small, thin and light weight battery cells to be printed onto surfaces such as glass and flexible plastic. The battery cells are designed to be powered and self-charged solely by humidity in the air or from the skin.
Graphene oxide and moisture from humidity in the air are a readily available, environmentally friendly source of energy compared to alternatives based on lithium and coin cells.
Bluetooth Communication and Sensor Demonstration
A demonstrator battery harvested energy from moisture in the air and converted this to power a Cypress Semiconductor IoT sensor kit with fully integrated:
- Electronic control board
- Bluetooth Low Energy (BLE) communication module
- Temperature sensor and
- Humidity sensor
Battery ink cells successfully enabled real time temperature and humidity data to be captured and transmitted wirelessly to a laptop via sensors and a BLE communication module over the 5 hour testing period with a sampling rate of 7 seconds.
Significantly, for the first time battery ink cells were integrated with a commercial supercapacitor. This is a significant advancement as higher performance applications require a supercapacitor/battery for greater energy storage.
The stock SOR traded last at AU$0.220 per share on the ASX.
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30th Jun 10:10 AM AEST
AGL Energy (ASX:AGL) confirms Demerger
AGL Energy Limited (ASX:AGL) confirmed today its intention to go for Demerger. The Board of AGL Energy believes it will be in the best interests of protecting shareholders value plus providing greater strategic focus to AGL.
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Demerger process and timing:
The company will become Accel Energy Limited, focusing on the redevelopment of its sites as low-carbon industrial energy hubs and a baseload power producer. Accel Energy shall then demerge AGL Australia Limited, the multi-product energy retailer. Accel Energy, as reported, will retain 15-20% of the shareholding in AGL Australia.
The Demerger is anticipated to be completed in the fourth quarter of FY22, subject to relevant approvals.
Leadership roles:
Accel Energy will be led by Peter Botten as Chair and Graeme Hunt as MD and CEO. On the other hand, AGL Australia will be handled by Patricia McKenzie as Chair and Christine Corbett as MD and CEO. AGL currently has strong support from lenders for new borrowing facilities for both potential entities.
Dividend & Earnings:
AGL Energy will terminate its Special Dividend Program for the remaining FY21 and upcoming FY22. It is also going to underwrite the Dividend Reinvestment Plan on ordinary dividends until Demerger.
AGL Energy confirmed that FY21 earnings guidance was in the previously provided range. For FY22, the Company anticipates a material step-down in earnings.
AGL shares last traded on ASX at AU$9.110 per share.
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30th Jun 10:01 AM AEST
Calix (ASX:CLX) awarded $1 million to help fund new biotech facilities
Australian technology company Calix Limited (ASX:CXL), has announced it has been awarded the maximum AU$1 million grant under the Australian Government’s Manufacturing Modernisation Fund (MMF) to develop and transform its Biotech manufacturing capability at its Bacchus Marsh facility in Victoria.
- The MMF support will aid Calix to transform the development of, and establish an advanced manufacturing capacity for, bio-active materials for crop protection, marine coatings, and health and pharmaceuticals claims at the Victoria-based Bacchus Marsh facility.
- The funding will support Calix’s recent capital raising for additional lab and production facilities for its Biotech line of business, and free up current capacity constraints on its Advanced Battery Materials program, which currently shares many common facilities.
Calix’s stock CXL traded last at AU$2.570 per share.
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30th Jun 09:54 AM AEST
Noxopharm (ASX:NOX) grabs significant European Patent Allowance for Veyonda®
Australian clinical-stage drug development company Noxopharm Limited (ASX:NOX) has shared that the European Patent Office (EPO) has issued a formal Notice of Allowance of claims for the Company’s Patent Application, indicating an intention to move to patent grant.
The important aspects of this notification are that, once granted, the patent:
- Relates to the therapeutic use of idronoxil in a suppository dosage formulation intended to provide a steady-state blood level of drug.
- Will have a patent term through to April 2037. Importantly, the patent being granted only about 4 years after filing means that Noxopharm will have enforceable rights for about another 16 years.
- Should cover the treatment of any cancer and is not limited to a particular cancer type.
- Should cover treatment of individuals who have received or are receiving any chemotherapy, without being limited to specific chemotherapeutic drugs.
- Should also cover treatment of individuals who are receiving radiotherapy, both externally or internally delivered radiotherapy.
It should be noted that Veyonda® is the Company’s first pipe-line drug candidate currently in Phase 2 clinical trialling.
Meanwhile, the stock NOX traded last at AU$0.640 per share.
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30th Jun 08:52 AM AEST
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30th Jun 08:18 AM AEST