Live ASX News Today
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7th Sep 07:43 PM AEST
360 Capital (ASX:TGP) sells it stakes in Global Data Centre Group
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On Tuesday, ASX-listed investment and funds management group 360 Capital Group (ASX:TPG) announced that it has sold its 33.2% stake in Global Data Centre Group (ASX:GDC) for AU$42 million. Last month, the Group had announced the commencement of the Sale of its Digital Infrastructure JV. At present, the Group serves as the manager of GDC in joint venture with David Yuile.
The stock closed 2.469% up at AU$0.830 per share today.
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7th Sep 07:36 PM AEST
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7th Sep 07:09 PM AEST
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7th Sep 07:06 PM AEST
Australian Potash (ASX:APC) awards Preferred Proponent status to PWR Hybrid
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On Tuesday, ASX-listed mineral exploration company Australian Potash Limited (ASX:APC) revealed via an announcement that the Company has awarded the status of Preferred Proponent to PWR Hybrid to build, own and operate the renewable energy microgrid at the Lake Wells Sulphate of Potash Project (LSOP).
The hybrid facility will become Australia’s one of the leading remote mine site power installations, providing energy to the Country’s greenest SOP project. The Company also started an evaluation of the LSOP’s Greenhouse Gas Emissions (GHG) footprint as part of its preparation for compliance with the SFDR regime. This evaluation, taking into account the power balance across the Project and energy usage has concluded that Lake Wells SOP Project is likely to produce 68% less CO2-e GHG than equivalent Mannheim process and 49% less than equivalent brine SOP projects.
Today’s announcement said that the Power Purchase Agreement will be finalised via the Early Contractor Involvement (ECI) process, with an advanced indicative levelised cost of energy (LCOE) to the recently published Front End Engineering Design (FEED) study.
Noticeably, APC holds a 100% interest in the Lake Wells Sulphate of Potash (LSOP). First production from the LSOP is expected in mid-2023.
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7th Sep 06:15 PM AEST
Mayur Resources (ASX:MRL) gets offtake support of clinker and cement from the CCL project
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The ASX-listed mining company Mayur Resources Limited (ASX:MRL) announced one of its significant achievements on Tuesday. The Company shared its offtake support for over 1 million tonnes per annum of clinker and cement from the Central Cement and Lime (CCL) Project.
MRL has received written conditional support from customers located in the Australian and Pacific markets. The conditional support customers were seeking long term cement and clinker supply.
Phase 1 of the CCL Project has already received written solid offtake support from quicklime and hydrated lime customers. In addition, further development has confirmed regional market interest in CCL’s products. Thus, the support could accelerate the development of Phase 2 of the fully permitted CCL project.
Meanwhile, on the ASX, the MRL stock closed 7.895% lower at AU$0.175 per share.
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7th Sep 06:14 PM AEST
Tomizone (ASX:TOM) releases quarterly activity results
The ASX-listed telecommunication company, Tomizone Limited (ASX:TOM) shared its quarterly activity report for the quarter ended 30 June 2021 in its today’s announcement.
During the quarter, TOM continued to complete its financial restructuring, including:
- Negotiations with its primary lender,
- FE Investments are limited through its appointed receiver and manager.
The key highlights of the quarterly activity ended 30 June 2021:
- The Company receipts from trading for the quarter stood at AU$789,000.
- TOM’s net cash from trading operations was AU$49,000.
- The Company’s cash held at the end of the quarter was AU$53,000.
Meanwhile, on the ASX, TOM closed at AU$0.002 per share today.
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7th Sep 06:01 PM AEST
Oklo (ASX:OKU) releases results from the follow-up Sari drill
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The ASX-listed mineral explorer company, Oklo Resources Limited (ASX:OKU) has released promising results from follow-up drilling at its 100% owned Sari Project. The project is located to the east of the Company's flagship Dandoko Project in west Mali.
Key highlights of the drilling result:
- The recent drilling report of OKU has portrayed gold discovery within the Sari Project, located 10km southeast of the Seko Mineral Resource.
- It was inferred from OKU's drilling report that all intersections are located at the northern end of a 2.4km auger gold-arsenic geochemical anomaly along the western margin of a prominent radiometric feature.
- Additionally, OKU's announcement has also mentioned that the Kossaya geochemical anomaly extended more than 6km on the eastern margin of the radiometric feature yet to be tested by drilling.
Meanwhile, OKU stock closed at AU$0.130 per share today.
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7th Sep 05:09 PM AEST
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7th Sep 04:25 PM AEST
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7th Sep 03:14 PM AEST
Northern Minerals’ (ASX:NTU) Cyclops, Rockslider & Banshee report high-value exploration returns
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The ASX-listed exploration company Northern Minerals Limited (ASX:NTU) revealed in an announcement that exploration drilling at the Cyclops, Rockslider and Banshee prospects has returned highly anomalous portable XRF measurements of yttrium over relatively wide zones. These three prospects are located less than 15km from the Browns Range processing plant.
Key highlights:
- NTU has shared that it has completed 8,700 metres of exploration drilling at Browns Range in July and August 2021.
- NTU also revealed the preliminary field pXRF results from Rockslider and Banshee South indicate broad anomalism from these prospects.
- The Company mentioned that all assays reporting Total Rare Earth Oxide are currently awaited. However, the first results are expected in early September 2021.
- NTU’s follow up RC drilling is kept due to commence mid-September.
Meanwhile, on the ASX, the NTU stock was trading at AU$0.044 per share at 3:17 PM AEST.
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7th Sep 03:13 PM AEST
Here’s why AML3D (ASX:AL3) share prices are trading strong today
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The ASX-listed metallurgy and welding company, AML3D Limited (ASX:AL3), on Tuesday, shared its success in industry scale welding trials. The Company used innovative new alloy compositions for its Wire Arc Manufacturing technology, which gave access to new industry segments and promising exciting opportunities in the area.
Key highlights:
- AML3D has shared that its ongoing project would develop a new high strength aluminium, scandium welding wire for applications is progressing steadily.
- As per the announcement, AML3D was also motivated by the preliminary results of the research undertaken by Deakin University. The project outcomes are expected to provide additional exciting opportunities in Wire Arc Additive Manufacturing.
- The Company has shared that this new alloy development combined with AML3D’s technology will provide a clear competitive advantage for AML3D and open new market opportunities for WAM for both new and existing customers.
Meanwhile, on the ASX, the AL3 stock was spotted trading 15.151% higher at AU$0.190 per share at 3:00 PM AEST.
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7th Sep 02:50 PM AEST
Maximus (ASX:MXR) marks the commencement of its Geophysics programme
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The ASX-listed mineral exploration and development company Maximus Resources Limited (ASX:MXR) shared that it has starter a major ground-based Electromagnetic Survey at the Company’s priority Central nickel target. It is located 25km from BHP’s Nickel Concentrator in the Kambalda nickel district, Western Australia.
Key highlights:
- The announcement revealed that Maximus’ Central nickel prospect covers 5km of highly prospective stratigraphy, with minimal drilling, located between the high-grade Andrews Shaft and 1A nickel mines.
- MXR mentioned that the objective of the survey was to define prospective zones for nickel sulphide mineralisation across several under-explored ultramafic corridors across the Central prospect.
- The Company also informed that its geophysics programme is supported by the Company’s recent two-tranche placement, raising AU$12 million.
Meanwhile, on the ASX, the MXR stock was trading 1.785% higher at AU$0.085 per share at 2:40 PM AEST.
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7th Sep 02:34 PM AEST
Synertec (ASX:SOP) wins project award in target market
The ASX-listed multi-disciplined engineering company Synertec Corporation Limited (ASX:SOP) has announced that the Company has been awarded the contract with Metro Trains Melbourne and Rail Systems Alliance. The purpose of the award is to provide advanced Control and Monitoring System for the operation of Melbourne's new AU$11 billion Metro Tunnel Project.
Key highlights:
- The announcement stated that Synertec was awarded the contract for works to design and supply the Control and Monitoring System that will allow the safe and reliable operation of the new Metro Tunnel.
- Synertec has also stated about it gaining a good rail industry reputation as reflected from the projects delivered in the past, including the safety system present underground of the existing rail loop.
About the metro tunnel project:
The Metro Tunnel Project features constructing two new tunnels and five underground station facilities. These facilities will be equipped with several automated control systems that would ensure the safety of the passengers.
Meanwhile, the SOP stock was spotted trading at AU$0.100 per share at 2:00 PM AEST.
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7th Sep 02:16 PM AEST
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7th Sep 01:36 PM AEST
SkyCity Entertainment (ASX:SKC) to reopen casinos in New Zealand
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Gaming entertainment company SkyCity Entertainment Group Limited (ASX:SKC) is hopeful of reopening its casino and entertainment facilities in Hamilton and Queenstown from 8 September 2021.
The New Zealand Government announced shifting of all locations except Auckland to Alert level 2 yesterday. With this, it has made movement easier while maintaining preventive measures.
As a result, SKC expects to reopen its Hamilton and Queenstown properties, although staged and with other health and safety measures in place. It will keep operating in line with the Ministry of Health’s latest recommendations and guidelines for operating at Alert Level 2. SKC has already published an updated schedule on its website.
In Queenstown, the larger SKC property shall reopen from 8 September 2021, while smaller casinos will remain closed due to ongoing border restrictions. SKC’s Auckland property will also remain closed as Auckland is still on COVID-19 Alert Level 4.
SKC’s businesses outside of New Zealand, in Adelaide and even online, are claimed to be unaffected by the latest restrictions in New Zealand. Its Adelaide is open with distancing and hygiene norms in place.
In response to reopening expectations, SKC shares were spotted trading a tad higher at AU$3.240 per share at 1:15 PM AEST.
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7th Sep 01:16 PM AEST
Why are BPH Energy (ASX:BPH) shares trading strong today?
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The share price of BPH Energy Ltd (ASX:BPH) was 8.064% up at AU$0.067 per share at 12:30 PM AEST as the Company announced that Advent Energy has issued a Letter of Intent for Drilling Project Management Services Contract to Aztech Well Construction Services Pty Ltd.
The letter of intent has been issued by Advent Energy’s subsidiary Asset Energy. Advent Energy Ltd is an unlisted Company involved in the oil and gas exploration business. Advent is owned by major shareholders BPH Energy (ASX: BPH), MEC Resources (ASX: MMR) and Grandbridge.
The Company shared that the well is planned to be drilled in 125m of water, approximately 26km offshore and 30km SSE of the City of Newcastle. The drilling is subject to regulatory permissions and will likely take approximately 40 days to reach the total depth.
As per the release, the well has two objectives to achieve – a gas target and the assessment for Carbon Capture Storage.
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7th Sep 12:58 PM AEST
Galena Mining (ASX:G1A) to increase exploration in Jillawarra, shares rise on ASX
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The ASX-listed metal and mining company, Galena Mining Limited (ASX:G1A), announced that it has concluded a detailed review of its wholly-owned Jillawarra Project on Tuesday. The detailed review was followed by the acquisition of the vital Copper Chert tenement.
Key highlights:
- Galena has plans to drill in Q4, 2021 with a priority on Jillawarra base and precious metals exploration targets.
- Galena’s fully-owned Jillawarra Project covers 508km square of prospective Edmund Basin sediments across 60km of contiguous strike immediately to the west of Abra.
- The Company has recognised seven priority targets from the 25 identified prospective targets and has planned to complete up to 3km of drilling and detailed electromagnetic targeting on 4 of those targets. The airborne electromagnetic work will take the coverage of the Jillawarra tenements to approximately 50%.
Meanwhile, on the ASX, the G1A stock was spotted trading 4.347% higher at AU$0.240 per share at 12:30 PM AEST.
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7th Sep 12:34 PM AEST
ASX 200 trades flat ahead of RBA policy meet; ORG, AMC, NEC go ex-dividend
The Australian share market continued to trade flat as investors are sitting on the sidelines ahead of RBA’s policy. By lunchtime, the ASX 200 moved slightly higher by 0.1% or a mere 8 points to 7,536.9. The ASX All Ordinaries Index also traded flat but with a negative bias, dropping 10.1 points to 7,813.
The top gainers in the ASX 200, holding the benchmark index afloat are Chalice Mining Limited (ASX:CHN) and Whiteheaven Coal Limited (ASX:WHC), both gaining 3.3% and 2.77%, respectively. Other stocks in the list are Eagers Automotive Limited (ASX:APE), Flight Centre Travel Group Limited (ASX:FLT) and Mesoblast Limited (ASX:MSB), all were up 2.63%, 2.57% and 2.31%, respectively.
Coming to the market breadth, seven out of the 11 sectors are trading higher today. Metals and Mining sector is down 0.63%, followed by a 0.26% fall in the Utilities sector. The Consumer Discretionary sector is leading the momentum with a gain of 0.47%.
A lot of shares have gone ex-dividend today. A few of them are Origin Energy Limited (ASX:ORG), Amcor CDI (ASX:AMC), GWA Group Limited (ASX:GWA), Reliance Worldwide Corporation Limited (ASX:RWC) and Nine Entertainment Company Holdings Limited (ASX:NEC).
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7th Sep 12:33 PM AEST
Brookfield entity to acquire additional securities in Dalrymple (ASX:DBI)
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Service provider to the metallurgical coal industry, Dalrymple Bay Infrastructure Limited (ASX:DBI), has informed that its major shareholder- BIP, a subsidiary of Brookfield Infrastructure Partners LP, has applied for acquisition of additional securities.
DBI informed that BIP had received the needed approvals from the Foreign Investment Review Board and DBCT Holdings Pty Ltd (a Queensland Government entity that leases Dalrymple Bay Terminal to DBI Group).
The additional acquisition will increase total interest by up to 60% if BIP chooses to complete share acquisition.
BIP also confirmed that today it has completed the on-market purchase of 100,000 stapled securities, taking BIP’s holding in DBI 49.32%. It also informed that it might consider further acquisitions depending on market conditions and compliance with relevant regulatory limits.
DBI shares traded in red at AU$2.240 per share at 11:40 AM AEST.
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7th Sep 11:59 AM AEST
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7th Sep 11:32 AM AEST
Crude oil dips followed by Saudi's decision to cut prices for the Asian market
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Crude oil prices tumbled on Monday after Saudi Arabia slashed the prices of crude contracts for the Asian market over a subdued demand outlook. November delivery Brent Crude oil futures last traded at US$72.28 per barrel up 0.26%, whereas October delivery WTI crude oil futures traded 0.09% up at US$68.94 per barrel as of 07 September 2021 at 10:25 AM AEST.
Saudi Aramco, the state oil group notified customers on Sunday through a statement that it will cut the October selling price for all grades of crude oil for Asian markets by atleast US$1 per barrel. The demand for crude oil in Asia has reduced due to rising cases of coronavirus. Furthermore, OPEC and its allies plan to raise monthly production, thus, additionally increasing the inflow into the market.
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7th Sep 11:14 AM AEST
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7th Sep 10:45 AM AEST
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7th Sep 10:41 AM AEST
ASX 200 opens flat ahead of RBA meet; iron ore slips
The Australian share market opened flat on Tuesday, down just 2 points at 7,526.50. On Monday, the Australian benchmark index rose marginally to 7,528.5. The resource-related stocks might gain from surging metal prices on political uncertainty in the West African country Guinea.
Iron ore prices tumbled more than 6% on Monday on rising portside stocks of the steelmaking ingredient in China due to increased shipments and weak domestic demand.
On Tuesday, markets would be closely tracking the Reserve Bank of Australia’s (RBA’s) latest policy decision scheduled for release at 2.30 PM AEST. Investors are awaiting hints about the possible tapering timeline of the Australian central bank’s bond purchases.
Some of the ASX-listed shares that will go ex-dividend on Tuesday include BlueScope Steel, IGO, IOOF Holdings, Energy and Sonic Healthcare.
Meanwhile, US stock and bond markets are closed on Labour Day. On Friday, the S&P 500 fell 0.03%. Dow Jones Industrial Average declined 0.2% and the NASDAQ rose 0.2%.
The muted US hiring data, released last week, fueled concerns that the fast spread of the coronavirus’s Delta variant might have an adverse impact on economic growth.
Newsmakers
Ioneer Ltd (ASX:INR) awarded DuPont Clean Technologies (DuPont) the license, engineering and equipment contract for the Rhyolite Ridge sulphuric acid plant.
Kingston Resources Ltd (ASX:KSN) has identified a number of highly prospective gold targets at its Livingstone Gold Project in Western Australia.
Navigator Global Investments Ltd (ASX:NGI) announced it has inked an agreement to acquire a 32% stake in Longreach Alternatives,
The securities of DXN Ltd (ASX:DXN) will be placed in trading halt, pending an announcement.
BlueScope Steel Ltd (ASX:BSL), IGO Ltd (ASX:IGO), IOOF Holdings Ltd (ASX:IFL), Origin Energy Ltd (ASX: ORG), and Sonic Healthcare Ltd (ASX:SHL) will go ex-dividend.
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7th Sep 10:31 AM AEST
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7th Sep 10:28 AM AEST
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7th Sep 09:59 AM AEST
Little Green Pharma (ASX:LGP) expands into Psychedlic medicines
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Cannabis pharma giant Little Green Pharma Limited (ASX:LGP) shared on 7 September 2021 that it has got a Schedule 9 licence to supply psilocybin from the WA Department of Health.
The Licence grants LGP the right to supply psilocybin to eligible licence holders under the Medicines and Poisons Act 2014 (WA).
Currently classified as a Schedule 9 drug, psilocybin induces a psychedelic state through its action on the brain’s 5HT-2A serotonin receptors.
LGP has been extensively investigating global developments in psychedelic medicine and the evolving regulatory and policy environment in Australia including through a special purpose subsidiary formed for this purpose.
Which ASX Stocks are on investors radar today?
The grant of a Schedule 9 licence for psilocybin clears a major hurdle for LGP to enter this field.
LGP has an extensive history producing and managing Schedule 9 drugs through its current cannabis operations.
The Company is currently engaged in extending its GMP licence to cover psilocybin manufacture.
Meanwhile, the stock on the ASX, LGP traded last at AU$0.765 per share.
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7th Sep 08:46 AM AEST
ASX 200 to rise ahead of RBA meet
The Australian share market is set to open higher on Tuesday, extending the rally seen in the latter half of session on the first day of the week. According to the latest ASX futures, the benchmark index ASX 200 is expected to open 16 points or 0.2% higher after rising marginally to 7,528.5 points.Investors would keep a close eye on the Reserve Bank of Australia’s (RBA’s) latest policy decision, which is scheduled for release at 2.30 PM AEST on Tuesday. The meeting would send a clear idea about possible tapering of the Australian central bank’s bond buying program.
In addition, BlueScope Steel, IGO, IOOF Holdings, Energy and Sonic Healthcare are a few shares that would go ex-dividend on Tuesday.
Meanwhile, US stock and bond markets are closed on Labour Day. On Friday, the S&P 500 fell 1.52 points to 4,535.43. The Dow Jones Industrial Average declined 0.2% to 35,369.09. The NASDAQ rose 0.2% to a record 15,363.52.
Last week, the Labor Department reported that US employers added 235,000 jobs in August, just one-third of the consensus forecast of 730,000. Markets welcomed the data since the Federal Reserve might extend the timeline of likely reduction in debt purchases.