Live ASX News Today
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14th Sep 10:41 PM AEST
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14th Sep 07:40 PM AEST
Appen (ASX:APX) completes acquisition of Quadrant Global
The ASX-listed information technology company Appen Limited (ASX:APX) announced that the Company had completed the acquisition of Quadrant Global Pte Ltd.
Quadrant is a Singapore-based, global leader in mobile location point-of-interest data.
This acquisition was initially announced on 26 August 2021. The acquisition expanded Appen’s data capabilities and product by offering for existing customers and opened new growth opportunities in the global location intelligence market.
Meanwhile, on the ASX, the APX stock closed a little lower at AU$9.800 per share today.
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14th Sep 07:39 PM AEST
Perpetual Resources (ASX:PEC) commences Study for DSO Production Scenario at Beharra
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Today, ASX-listed explorer of Silica sands Perpetual Resources Ltd (ASX:PEC) announced that it has started a scoping study to analyse the economics of a Direct-ShippingOre (DSO) production scenario at Beharra.
This DSO scenario is being analysed in response to inbound interest from a current (and previously announced) offtake partner, which has undertaken their own additional analysis on Beharra processed sand products (sourced from the PFS Study metallurgical program). The study has concluded that the product can achieve materially lower Fe2O3 content (when compared to the 276ppm Fe2O3 levels reported in the Beharra PFS Study), making Beharra sand potentially suitable for DSO sales. This may as a result see Beharra sand servicing the fast-growing China PV-solar cell coverings market and other ultra-clear glass markets in the region.
DSO Scoping Study has potential to create an ultra-low capital development pathway for Beharra. The said Study is expected to take 10-12 weeks for completion.
Today, the shares of Perpetual Resources closed 4% higher at AU$0.130 per share on the ASX.
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14th Sep 07:29 PM AEST
What made PPK Group (ASX:PPK) close substantially higher today on the ASX
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The share price of the capital goods giant PPK Group Limited (ASX:PPK) gained 9% to close the stock at AU$21.800 per share today.
The Company announced that Li-S Energy Limited (LiS) has received conditional listing approval from ASX and is focused on promptly working through the excellent conditions.
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14th Sep 07:27 PM AEST
Universal Biosensors (ASX:UBI) collaborates with Peter MacCallum's cancer research
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The ASX-listed medical diagnostic company Universal Biosensors Inc. (ASX:UBI) announced that it has formed an agreement with Peter MacCallum Cancer Centre. According to the agreement, UBI will provide samples of cancer patients that will be utilised to develop and validate UBI's handheld point-of-care cancer biosensor for Tn Antigen.
Additionally, the agreement allows UBI to access plasma samples collected from patients suffering from colorectal, breast, and prostate cancer as a part of Peter MacCallum's research initiative.
This trial tends to measure the cancer status through more samples, frequent and inexpensive tests. Therefore, it can further be used as a measure to diagnose cancer in its early stages.
Meanwhile, on the ASX, the UBI stock closed at AU$0.900 per share today.
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14th Sep 07:26 PM AEST
Dreadnought (ASX:DRE) updates its fully funded placements
The ASX-listed metal exploration company Dreadnought Resources Limited (ASX:DRE) announced that it had raised AU$8,000,000 through placements that cost AU$0.035 per share before costs at a discount of 5.5% from its last closing price.
Key highlights:
- The announcement has revealed that funding is to be used for building on recent successes at the Tarraji-Yampi, Mangaroon, and Illaara Projects, with the drilling of massive sulphides at Tarraji-Yampi to commence immediately.
- DRE has mentioned that directors have contributed AU$158,699 via the placement and exercise of options and will maintain a 15% ownership, bringing their total investment to AU$1.46 million.
Meanwhile, on the ASX, the DRE stock closed 5.405% strong at AU$0.039 per share.
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14th Sep 07:25 PM AEST
Okapi (ASX:OKR) acquires historical Sunnyside Uranium Mine in Utah
The ASX-listed metals and mining company Okapi Resources Limited (ASX:OKR) shared that it acquired the Sunnyside Uranium Mine in Utah, increasing total landholding in the US to 90%.
The Sunnyside Mine contains several past-producing pits and wholes where Uranium was mined earlier in the 1900s. Excellent grades of 1500 parts per million tri-uranium oct-oxide and 1.5% Vanadium oxide were found.
The acquisition has complemented Okapi’s adjacent Rattler Uranium Project, with the geological setting in both areas being identical to that at Energy Fuels’ La Sal Project. According to the records, La Sal is fully permitted for mining and was in operation between 2006 to 2012 with ore processed at the nearby White Mesa Uranium Mill.
Okapi has shared that it will continue to assess additional value accretive uranium acquisition opportunities throughout North America.
Meanwhile, on the ASX, OKR closed 5.480% lower at AU$0.690 per share today.
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14th Sep 07:24 PM AEST
Australian agricultural sector is likely to witness a record-breaking financial year ahead
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Australia witnessed a vital buying and selling climate that could potentially drive the agriculture sector to its best possible financial year. As a result, the Australian Bureau of Agricultural and Resource Economics and Sciences has laid down a prediction stating that the gross value of agricultural production would hit AU$73 billion in the 2021-2022 financial year.
On the contrary, the previous years have witnessed a gross production value of AU$69 billion and AU$65 billion. However, due to lockdown restrictions and poor international harvest this year, the product prices have significantly gone up as Australia enjoyed a great winter crop harvest.
This year, the prices of most of the export commodities in Australia have been hiked up. Despite the threat of COVID-19 and scuffle with China, ABARES has given an optimistic prediction of this year’s agricultural sector of Australia.
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14th Sep 07:21 PM AEST
Laybuy’s (ASX:LBY) affiliate marketing network exceeds expectations; shares gain on ASX
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The ASX-listed BNPL provider Laybuy Group Holdings Limited (ASX:LBY) announced that it launched the Affiliate Marketing Network, exceeding internal projections with both orders processed and GMV five times ahead of Laybuy’s internal one month forecast.
Key highlights:
- LBY’s affiliate marketing network lets Laybuy users to access brands like as Amazon, NET-A-PORTER, ASOS, eBay, Levi’s, Acne Studios, and Marks & Spencer, etc.
- Laybuy mentioned it will undertake a further rollout of the Affiliate Marketing Network, with the platform forming a crucial part of Laybuy’s growth strategy.
- The Company has shared that it remains committed to responsible Buy Now Pay Later (BNPL) lending and will continue to practice strict credit control and compliance procedures.
Meanwhile, on the ASX, the LBY stock closed, trading 6.250% higher at AU$0.510 today.
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14th Sep 07:21 PM AEST
IODM (ASX:IOD) partners with WUBS, expects revenue growth
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The ASX-listed cloud base SaaS service provider IODM Limited (ASX:IOD) announced that it would be providing its offering to a further education client of WUBS in the United Kingdom.
IOD has expected to earn a revenue of AU$95,000-AU$130,000 per annum with the help of this agreement. However, the revenue depends on the number of students who pay their tuition fees and accommodation through the payment platform. IODM has no commercial arrangement with the end-user university.
Moreover, IODM’s agreement with WUBS has allowed WUBS to engage with existing and new clients through a service level agreement.
Meanwhile, on the ASX, the IOD stock closed 1.2% down at AU$0.380 today.
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14th Sep 07:20 PM AEST
The ASX-listed metals and mining company Anson Resources Limited (ASX:ASN) announced that it has received firm commitments from sophisticated and institutional investors to raise AU$7,357,322 through the issue of 80,849,693 fully paid ordinary shares in the Company.
The issue price, as revealed by the Company for each share, would be AU$0.091.
ASN’s strategic investor exercises 10,000,000 options with an exercise price of AU$0.06 providing AU$600,000 of funding.
Meanwhile, on the ASX, the ASN stock closed at AU$0.110 per share today.
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14th Sep 07:20 PM AEST
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14th Sep 07:19 PM AEST
Australia's Brambles loses substantially on higher spending plans
Australian logistics company Brambles Limited (ASX:BXB) fell 8.320% to close at AU$11.240 per share today.
The Company stated said on Monday it will increase investment spending and record costs of $50 mln in FY22, $20 million in FY23.
BXB shared it sees underlying profit growth of 1%-2% in FY22 after transformation costs, down from 8% in FY21.
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14th Sep 07:09 PM AEST
Great Boulder (ASX:GBR) demerges Yamarna Battery Metal Assets, stock closes strong
The ASX-listed mining company Great Boulder Resources (ASX:GBR) shared an update on its strategic review of the Yamarna Project with the decision to demerge the base metal-focused assets into a new listed entity, known as Cosmo Metals Limited.
Key highlights:
- GBR mentioned that the demerger would allow it to focus on its flagship high-grade Side Well Gold Project and the shallow, large-scale Whiteheads Gold Project as they are returning excellent outcomes and creating shareholder value over the past 12 months.
- The announcement has revealed that GBR and its shareholders will retain upside exposure to Yamarna through a 41% to 50% cornerstone equity holding in Cosmo Metals implied value of AU$5.0M at AU$0.20 IPO price.
- Existing GBR shareholders will also be allowed to participate in a priority offer of shares in the Cosmo Metals IPO, planned for mid/late Q4-CY21.
- Additionally, the announcement revealed that the managing director of GBR, Andrew Paterson, has been appointed Non-Executive Director of Cosmo Metals.
Meanwhile, on the ASX, the GBR stock closed 6.666% higher at AU$0.160 per share today.
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14th Sep 07:08 PM AEST
Sprintex (ASX:SIX) gets into the agreement to supply Hydrogen Fuel Cell Compressors
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Sprintex Limited (ASX:SIX), the Company dealing in automobiles and components, shared details about its transformative expansion into the electric compressor (eCompressor) business.
Sprintex is an international developer, manufacturer, and distributor of the Sprintex® twin screw compressor and supercharger systems incorporating the Sprintex® twin screw supercharger.
The Company, previously, has also signed an agreement with UK firm Aeristech Ltd. Aeristech deals in high-speed motors, controllers and fuel cell eCompressors, with unique and proprietary Intellectual Property (IP) developed over the past decade.
Key highlights:
- The agreement would facilitate both Sprintex and Aeristech’s steps towards the industrialisation of high-speed electric compressors and accelerate the two companies into hydrogen energy and clean air markets, including hydrogen fuel cells, industrial turbo blowers, and compressors sets.
- The announcement stated that the first production samples are scheduled for October 2021 to coincide with Sprintex’s China production facility opening.
- The agreement would also provide significant future revenue opportunities for Sprintex, with the first fuel cell air compressor sales expected within the 2021 calendar year.
Meanwhile, on the ASX, SIX stock closed 4.938% higher at AU$0.085 per share.
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14th Sep 06:43 PM AEST
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14th Sep 06:31 PM AEST
Here’s why Metal Hawk (ASX:MHK) closed 264% higher today
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The ASX-listed mining company Metal Hawk Limited (ASX:MHK) shared additional information relating to its massive nickel sulphide discovery.
The key highlights of the discovery:
- The nature of the minerals is fine-grained sulphides which are a supergene weathering product of primary nickel sulphides.
- The minerals observed are massive fine-grained sulphides likely to be violarite - pyrite which is a weathering product of primary pentlandite-pyrrhotite
- As per Metal Hawk’s previous announcement, all reverse circulation drill holes have been sampled, and the Company shared that assay will be reported to the market as soon as possible.
Meanwhile, on the ASX, the MHK stock has closed, 264.864% higher at AU$0.68 per share.
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14th Sep 06:30 PM AEST
Lotus Resources (ASX: LOT) gets licence renewed for its Kayelekera Project
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On Tuesday, ASX-listed mineral exploration Company Lotus Resources Limited (ASX:LOT) announced the renewal of the Company’s mining and exploration licences for its Kayelekera Project (Kayelekera or the Project). The Mining Licence, ML0152, which was signed by the Minister of Mines Rashid Abdul Gaffar, on 1 September 2021 in line with the Mines and Minerals Act, has been renewed for 15 years.
The announcement said a restart of operations would be advantageous to the local communities and Malawi as a whole through employment, development of local communities, taxes, royalty streams and profit share to the Government of Malawi, which holds 15% stakes in the Project.
Post this announcement, shares of the stock LOT declined 6.780% to close at AU$0.275 per share on the ASX.
It is to be noted that Lotus Resources owns an 85% interest in the Kayelekera Uranium Project in Malawi.
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14th Sep 05:31 PM AEST
Fin Resources (ASX:FIN) confirms Coolgra Point as most logical location in West Pilbara
Australian based resources Company Fin Resources Limited (ASX:FIN), via an announcement provided an update regarding its progress on the North Onslow Solar Salt Project (NOSSP).
The Company stated that several potential locations for a transhipment facility for the export of high-quality industrial salt from the NOSSP were considered between Onslow and Karratha, and Coolgra Point was confirmed as the most favourable location from an environmental as well as engineering perspective. Besides, Coolgra Point location was also favourable for a scalable, multi-commodity transhipment berth.
The announcement further revealed that Coolgra Point offers a cost-efficient export solution for the NOSSP and other third parties seeking to export bulk commodities in the West Pilbara Region.
While maintaining that FIN is open to working collaboratively and constructively with other groups, the Company said that discussions are in progress with potential operating, financial and strategic partners interested in helping fast-track the development of the transhipment facility.
FIN closed 2.128% down at AU$0.046 per share on the ASX.
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14th Sep 04:45 PM AEST
Doctor Care Anywhere (ASX:DOC) expands service in the Republic of Ireland
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On Tuesday, ASX-listed telehealth Company Doctor Care Anywhere Group (ASX:DOC) announced the expansion of its digital healthcare service to selfpay patients in the Republic of Ireland.
This new service is built on Doctor Care Anywhere’s current activities in the Irish market and will help transform patients' health journeys by providing a fully integrated treatment pathway, comprising telephone and video consultations, led by Doctor Care Anywhere’s Irish Medical Council registered GPs.
The announcement revealed that the self-pay service is now available to patients in the Republic of Ireland through Boots Ireland. Part of Walgreens Boots Alliance, a leading global pharmacy group. Boots has a considerable presence in the Republic of Ireland, with 89 stores across the country. The association with Boots Ireland enhances Doctor Care Anywhere’s direct-to-consumer model. It brings the benefits of a patient-centred, joined-up health journey supported by a digitally enabled health record to patients across the country.
With a population of 4.9 million, the Republic of Ireland is an important strategic market for the Group. The Irish healthcare market is predominantly funded through private medical insurance and self-pay services for primary and secondary care.
DOC ended today’s session at AU$0.780 per share today.
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14th Sep 04:44 PM AEST
ASX ends higher on dovish RBA; Beach Energy rises, Brambles falls
The Australian share market ended higher for the second straight session on Tuesday on dovish comment from Reserve Bank governor Philip Lowe. The market staged smart recovery in afternoon trade as investors cheered Lowe’s comment that the central bank would not hike interest rate until 2024. The promise to maintain cash rate at record low of 0.1% helped the market reverse earlier losses.
The benchmark index, the ASX 200, ended 12.10 points or 0.16% higher at 7,437.30. Early today, the index opened lower and dropped as much as 0.5% to hit a low of 7,388.9, led by sell-off in tech and industrial companies.
The market sentiment was also lifted after a report from NAB revealed that business confidence improved slightly in the month of August. The data showed that business confidence in Australia increased to minus 5 points in August from minus 8 points in July of 2021, boosted by pick up in vaccine rollout.
The market width, indicating the overall strength, was positive, with six of 11 sectors closing in positive terrain. The energy sector was the best performer with 4.2% gain. It was followed by utilities sector, which surged 1.2%. Among others, A-REIT, financial and material also settled in green with decent gains.
Meanwhile, industrial sector emerged as the worst performer with over 1% loss. It was followed by health care, tech, consumer stapled and consumer discretionary, which also witnessed surge in selling activities.
The energy company Beach Energy (ASX: BPT) topped the gainer’s list by rising 7.5%. It was followed by software firm Altium (ASX: ALU), oil and gas producer Woodside Petroleum (ASX:WPL), gold miners Chalice Mining (ASX:CHN) and Gold Road Resources (ASX: GOR).
On the losing side, pooling solutions company Brambles (ASX: BXB) emerged as top laggard with 9% loss. Some of the other notable losers were internet service provider Uniti Group (ASX: UWL), Cleanaway Waste Management (ASX: CWY), health care firm Fisher and Paykel (ASX: FPH) and engineering services provider Monadelphous Group (ASX:MND).
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14th Sep 03:18 PM AEST
Why are Brookside Energy (ASX:BRK) shares trading in green today
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Energy-focused firm Brookside Energy Limited (ASX:BRK) provided updates regarding operations on the high-impact Jewell.
The Company said that its first operated horizontal oil and gas well in the SWISH AOI has successfully turned to sales just 4-months after the well was spudded. The Energy Company informed that the Oil and gas flow rates for the Well are already close to the Company’s pre-drill base case volume estimates and are growing in accordance with its modelled flow-back profile.
The release stated that even though the Company is still in the early part of flow-back and stimulation fluid recovery, the rate of oil and gas production has already allowed it to begin commercial production and sales with production now turned from temporary facilities to the Company’s permanent production facilities on the Jewell Well location.
With commercial production now established in the Jewell DSU, this unit is classified as HBP.
The stock price was quoted at AU$0.031 per share, up 3.33% at 2.40 PM AEST.
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14th Sep 02:32 PM AEST
Micro-X’s (ASX:MX1) Rover gets TGA listing on ARTG
The ASX-listed hi-tech healthcare equipment company Micro-X Limited (ASX:MX1) announced that it had been notified by the Therapeutic Goods Administration (TGA) that the Micro-X Rover had been included on the Australian Register Therapeutic Goods (ARTG) list, allowing all variants of the Rover to be sold commercially in Australia.
Key highlights:
- Commercially available for medical use in Australia - AU$10 million available market annually.
- MX1’s dedicated Australian sales team has been actively building a pipeline of sales opportunities.
- Micro-X Rover already has FDA approval and is being sold globally where 510(k) is recognised.
Meanwhile, on the ASX, the MX1 stock was spotted trading 3.508% higher at AU$0.295 per share at 2:26 PM AEST.
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14th Sep 01:52 PM AEST
MAAS (ASX:MGH) all set to acquire additional quarry in Central Queensland
MAAS Group Holdings Limited (ASX:MGH) announced that it has agreed to acquire an additional quarry in Central Queensland, the Earth Commodities hard rock quarry operation in Gladstone. The acquisition agreement is subject to customary completion conditions, and the transaction is expected to complete in October 2021.
The acquired quarry currently produces 300,000 – 400,000 tonnes per annum with the approved annual cargo of 1 million tonnes. In addition, the acquisition will allow MGH to realise synergies within its Central Queensland Construction Materials business which was established through the Amcor quarry and concrete business in Rockhampton and previously announced to the ASX on 29 April 2021.
Meanwhile, on the ASX, the MGH stock was spotted trading 2.029% higher at AU$5.530 per share at 1:40 PM AEST.
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14th Sep 12:49 PM AEST
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14th Sep 12:44 PM AEST
ASX trims losses on energy boost; Beach Energy, Woodside, AGL surge
The Australian share market continued to trade lower by afternoon, albeit paring most of early losses, as strong rally in energy stocks capped losses in tech and industrial companies. The weak cues from global peers weighed on the market as investor sentiment was dampened by fears of potential corporate tax hikes in the United States. Investors also remained focused on Reserve Bank governor Philip Lowe’s speech on Delta’s impact on economy and monetary policy. In the last week’s monthly policy meeting, the governor had warned that the coronavirus-led lockdowns would lead to rise in the unemployment rate over coming months. However, he had maintained that the economy would rebound by the end of the year.
The benchmark index, the ASX 200, was trading lower by 8.90 points or 0.12% to 7,416, by lunch. During the day’s trade so far, the index declined as much as 0.5% to hit a low of 7,388.9.
On the sectoral front, six of the 11 indices were trading in red, while tech and industrial indices were the worst performers. The tech sector declined 1.6%, led by fall in index heavyweights Afterpay, Xero, and Pro Medicus. Some of the other sectors that saw surge in selling activities include industrials, health care, consumer staples and consumer discretionary.
The top loser on the ASX pack was pooling solutions company Brambles (ASX: BXB) with a 10.7% loss. Some of the other notable losers were medical device manufacturer ResMed Inc (ASX: RMD), health care firm Pro Medicus (ASX: PME), alumina refining business Alumina (ASX: AWC) and buy now, pay later major ZIP Co (ASX:Z1P).
Meanwhile, energy companies topped the gainers chart, led by Beach Energy (ASX: BPT) with a 7.2% gain. It was followed by sectoral peers Woodside Petroleum (ASX:WPL), AGL Energy (ASX:AGL), Santos (ASX:STO) and Oil Search (ASX:OSH).
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14th Sep 12:38 PM AEST
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14th Sep 12:15 PM AEST
Oil rises on slow supply recovery from the US
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Crude oil prices soared to six-week high on Monday due to slow recovery in the US output, two weeks after Hurricane Ida hit the coast. The prices were additionally lifted by the concern of another storm that could hit Texas this week, affecting crude oil output. November delivery Brent Crude oil futures last traded at US$73.49 per barrel down 0.20%, whereas October delivery WTI crude oil futures traded 0.14% up at US$70.55 per barrel as of 14 September 2021 at 10:23 AM AEST.
The significant rise in the oil prices was witnessed despite the OPEC announcing a cut in its oil demand forecast for the remaining 2021 on the concerns of the Delta virus. The U.S. National Hurricane Center projecting Tropical Storm Nicholas to hit the South Texas coast on Monday, disrupting the O&G operations in the region.
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14th Sep 12:13 PM AEST
Iceland starts the world’s largest carbon dioxide capturing plant
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Iceland has started operating the world’s largest plant that captures carbon dioxide from the air and deposits it into the ground. Climeworks AG, a Swiss start-up has teamed up with Iceland’s carbon storage firm Carbix to develop a plant that can capture up to 4,000 tonnes of carbon dioxide per year. The plant is expected to start operating from Wednesday.
The International Energy Agency (IEA) records unveil that the total carbon dioxide emission during the last year was 31.5 billion tonnes. Direct air capture is one of the innovative and advanced technology for capturing carbon dioxide from the atmosphere and could help significantly to combat global warming. As per the IEA data, 15 direct capture plants are operating in the world currently, capturing more than 9,000 tonnes of carbon dioxide per year.
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14th Sep 12:10 PM AEST
Why are Telix (ASX:TLX) shares trading strong today
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The share price of Healthcare giant Telix Pharmaceuticals Limited (ASX:TLX) was quoted 7% higher to trade at AU$7.030 per share at 11:50 AM AEST. The Company has announced that the United States Food and Drug Administration (FDA) had approved the Investigational New Drug Application (IND). This would enable TLX to undertake a clinical study of its investigational kidney cancer therapy, TLX250.
Telix's STARLITE 2 is a single-arm, Phase two study led by an investigator in patients bearing clear cell renal cell carcinoma (ccRCC). It is one of the most common and aggressive forms of kidney cancer. TLX's study would conclude that the TLX250-delivered radiation act as an immunity system primer combined with the anti-PD-1 immunotherapy Opdivo (nivolumab).
TLX has expected to enrol 29 patients for the study. The study's primary objective is to obtain the efficacy of combining immunotherapy with TLX250 as assessed by the number of tumours responding to the Telix therapy versus the current standard of care alone.
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14th Sep 12:06 PM AEST
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14th Sep 11:16 AM AEST
Westpac (ASX:WBC) confirms pacific business sale blocked by PNG regulator
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Westpac Banking Corporation (ASX:WBC) is facing a hurdle in its pacific business sale announced on 7 December 2020.
WBC had announced the sale of its Pacific businesses under its strategy to shift focus on Australia and New Zealand. However, the sale was subject to regulatory approvals in Fiji and Papua New Guinea (PNG). On 22 July 2021, PNG's Independent Consumer and Competition Commission (ICCC), released a draft determination proposing authorisation denial to Kina Bank (Kina Securities Limited- ASX:KSL) for the proposed acquisition Westpac's 89.91% stake in Westpac Bank PNG Limited.
ICCC, in its latest release, has confirmed its final determination confirming denied authorisation. WBC has thus, acknowledged the decision and shall continue to operate while reviewing the impact on sale to Kina Bank.
As a result, WBC shares opened in red on ASX, and were spotted trading at AU$25.585 per share, down 0.215% at 11:00 AM AEST.
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14th Sep 10:39 AM AEST
American Pacific Borates (ASX:ABR) makes key appointments, trades bullish on ASX
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Australia based materials firm dealing in boron specialty products, American Pacific Borates Limited (ASX:ABR), on 14 September 2021, announced two senior management appointments effective in the second half of September 2021.
The Company has appointed Tyson Hall as the Chief Operating Officer, while Chance Pipitone has been appointed as the Head of Corporate Development and Investor Relations.
Earlier, Tyson had the responsibility for a similar facility. Tyson will also become the important interface between construction and operations and the specialty boron and advanced materials business unit. Tyson’s initial focus will be managing value engineering activities in train to support the development plan for the Fort Cady Integrated Boron Facility.
Chance Pipitone brings deep public and private markets experience having previously managed and invested more than US$10 billion of capital while serving as Portfolio Manager and Senior Investment Professional. Chance’s initial focus will be supporting the US listing process and initiating a US corporate marketing campaign.
Meanwhile, the stock ABR was spotted trading 2.6% higher at AU$1.720 per share at 10:40 AM AEST.
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14th Sep 10:35 AM AEST
MCG Pharma (ASX:MXC) gets UK import permit for epilepsy drug, shares open strong on ASX
ASX-listed European biopharma company, MGC Pharmaceuticals Ltd (ASX:MXC), has received UK import approval for its drug CannEpil+.
The stock MXC opened 11.66% higher at AU$0.067 per share on the ASX.
The drug under the CannEpilTM, addressing refractory (drug-resistant) Epilepsy, now has approval from the Medicine and Healthcare products Regulatory Agency (MHRA), facilitating its distribution and prescription for patients in UK.
It is the first time an epilepsy treatment has been approved for import in the clinical trial stage. It is thus a landmark milestone for MXC in the UK. Furthermore, the approval has opened a key strategic market for MXC.
MXC has decided to make CannEpil+ available for free initially to ten needy patients for six months. It will also monitor their treatment as part of an observational trial using Alta Flora’s data collection App. The app will provide real-time data on the efficacy of CannEpil+ to regulatory bodies and Doctors monitoring the effectiveness of the drug.
Epilepsy is one of the most common severe neurological conditions in UK, and ~50 million people worldwide, 33% of adults, and 20-25% of children, suffer from Refractory Epilepsy.
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14th Sep 10:34 AM AEST
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14th Sep 10:26 AM AEST
Metalicity (ASX:MCT) offers compelling deal to Nex Metals Shareholders
The ASX-listed exploration company Metalicity Limited (ASX:MCT) has announced a proposal to rationalise ownership of the Kookynie and Yundamindra Gold Projects into a single listed entity.
ASX Movers today: Macmahon, Vulcan, Cronos & Metalicity
According to the announcement, Metalicity has intended to make an off-market all scrip takeover bid for all of the fully paid ordinary shares in its joint venture partner, Nex Metals Exploration Limited.
Key highlights:
- MCT has shared a compelling combination with improved access to capital, removal of joint venture structure, cost savings and enhanced balance sheet position, leading to accelerated project development.
- Metalicity has controlled the Kookynie and Yundamindra Projects with a 51% interest, providing a solid platform for consolidation and development of the Projects.
- The offer by MCT is at a 30% premium to NME’s most recent closing price.
Meanwhile, on the ASX, the MCT stock traded last at AU$0.010 per share.
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14th Sep 10:07 AM AEST
Macmahon (ASX:MAH) finalises A$210M mining contract for Warrawoona gold project
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Macmahon Holdings Limited (ASX:MAH) has finalised a mining services contract with Calidus Resources Limited (ASX:CAI) for the Warrawoona gold project, Western Australia. The contract is for developing a new open-cut mine in the Pilbara region and includes all open-cut mining activities until December 2026. MAH estimated the contract to generate around AU$210 million.
The announcement follows MAH’s selection as the preferred contractor for the project in 2020. It is in addition to the ongoing early-stage civil works by Macmohan on site.
ASX Movers today: Macmahon, Vulcan, Cronos & Metalicity
MAH expects main mining equipment to reach the site in Q1-2022 and the project to increase employed personnel from the current 65 to 120.
MAH shares last closed on ASX at 22.5 cents per share and CAI shares at 56 cents per share.
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14th Sep 10:03 AM AEST
Vulcan (ASX:VUL) launches A$200M Placement, halts trading
Lithium producer Vulcan Energy Resources Limited (ASX:VUL), in order to accelerate exploration initiatives and expand its dual renewable energy and lithium development strategy, will be launching a AU$200 million placement.
The Company shared today that after institutional placement to raise A$200 million, a further AU$20 million will be raised via share purchase plan.
ASX Movers today: Macmahon, Vulcan, Cronos & Metalicity
The proceeds from the Offer, together with existing cash, will be applied to:
- Targeted acquisition and refurbishment of exploration equipment;
- Targeted acquisition and upgrade of existing brownfield energy and brine infrastructure;
- Expanded project development; and
- General working capital and costs of the Offer.
The Offer coincides with Vulcan’s inclusion in the S&P/ASX300 index, which is set to occur on 17 September 2021.
Also, the funding will support Vulcan’s goal of becoming the world’s first Zero Carbon Lithium™ Company, with phase 1 production targeted for CY2024, the Company shared.
Meanwhile, the last share price of the stock was quoted at AU$15.900 per share on the ASX.
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14th Sep 10:02 AM AEST
Hotel Property Investments (ASX:HPI) enters A$28M acquisition agreements
Real estate giant Hotel Property Investments (ASX:HPI) announced acquisitions and equity raising activities on 14 September 2021.
HPI shared that it has signed acquisition deals for the Edwardes Lake Hotel for a consideration of AU$28.0 million and is in advanced stages on a second acquisition, which is expected to be acquired for AU$7.9 million.
Edwardes Lake Hotel, a mixed-use complex in Melbourne’s northern corridor, comprising a sports bar, gaming room, family bistro, bottle shop, kids zone and car parking.
HPI also shared that it is undertaking a lease harmonisation program involving a AU$38.8 million payment to its major tenant, Queensland Venue Company (QVC).
HPI will undertake a fully underwritten institutional placement to raise AU$50.0 million to partially fund the Acquisitions and associated transaction costs in conjunction with existing debt facilities. The Company will also undertake a Security Purchase Plan (SPP) to raise up to AU$10.0 million.
Along with these, HPI announced that it will maintain its FY22 distribution guidance of 20.5 cents per security.
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14th Sep 09:25 AM AEST
ASX 200 to fall after global stocks slip
The Australian shares are set to open lower on Tuesday as the country battles surge in coronavirus Delta variant. In addition, the global stock markets inched lower on Monday on concerns over inflation, even as Wall Street started the week on a positive note.According to the latest ASX futures, the ASX 200 is expected to open the day 20 points or 0.3% lower on Tuesday after the benchmark index rose 0.2% to 7,425.2 points in the previous session.
Breville Group Ltd, Inghams Group Ltd, News Corp, and telco TPG Telecom Ltd are a few shares going ex-dividend on Tuesday.
On Wall Street, the Dow Jones rose 0.75% and the S&P 500 climbed 0.25%. The NASDAQ dropped 0.1%. Investors awaited US consumer inflation data due to be out Tuesday. The US consumer price data give a broad picture of the economy's progress ahead of the Federal Reserve's meeting next week.
US government bond yields fell as traders look ahead to data on Tuesday that is expected to show a continuing slowdown in the pace of consumer price increases. The yield on 10-year Treasury notes was down 1.8 basis points at 1.323%.