Live ASX News Today
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21st Sep 08:58 PM AEST
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21st Sep 08:51 PM AEST
Australian Vanadium (ASX:AVL) prepares for growth opportunity
ASX-listed company from the metal and mining sector, Australian Vanadium Limited (ASX:AVL), announced that additional studies and testwork from its southern resource blocks have delivered positive outcomes and further progressed metallurgical characterisation.
Key highlights:
- AVL’s beneficiation test work has indicated higher vanadium and iron concentrate grades.
- The results have indicated Iron grades in fresh magnetic concentrate up to 61.0% Fe, demonstrating the potential to improve the value of AVL’s FeTi coproduct after vanadium extraction is completed.
- Grades of up to 1.51% V2O5 in concentrate confirmed near-surface opportunities for higher vanadium concentrate grades and recoveries.
- New detailed ground geophysics in southern Block 90 confirmed a 1.5km extension of vanadium magnetite, with previously limited drilling.
- AVL has infill drilling planned post-BFS to improve resource categories and extend the resource envelope.
- AVL’s technical team has developed a unique understanding of vanadium and iron recoveries to concentrate, enabling optimised outcomes in the mining and processing of the project.
Meanwhile, on the ASX, the AVL stock closed at AU$0.023 per share.
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21st Sep 08:51 PM AEST
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21st Sep 08:47 PM AEST
Here’s why energy stock Metgasco (ASX:MEL) was in news today
ASX-listed energy company Metgasco Ltd (ASX:MEL) shared an update on behalf of the Cervantes Joint Venture partners, Vintage Energy Ltd and RCMA Australia Pty Ltd on Tuesday.
The announcement stated that RCMA has signed a non-binding letter of intent (LOI) on behalf of the Joint Venture with Strike Energy Limited. The LOI sets out the framework for negotiating a rig sharing agreement to provide for the drilling of the Cervantes-1 exploration well using the Ensign 970 rig.
Cervantes-1 is expected to address a gross Prospective Recoverable (P50) Resources of 15.3 mmbls. MEL has mentioned in the announcement that the environmental approval is anticipated to be complete by circa end of November CY21.
Meanwhile, on the ASX, the MEL stock closed 4.001% lower at AU$0.024 per share.
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21st Sep 08:47 PM AEST
Reedy Lagoon (ASX:RLC) closed strong on ASX today. Here’s why
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On Tuesday, ASX-listed diversified mineral exploration company Reedy Lagoon Corporation Limited (ASX:RLC) announced the commencement of geophysical survey work at its Alkali Lake North lithium-brine project in Nevada, USA. Post this announcement, the shares of Reedy Lagoon closed strong at AU$0.030 per share on ASX, an increase of over 19% compared to previous close.
Today’s announcement said that according to the most effective way of producing lithium chemicals for use in batteries is to pump lithium-bearing groundwater via a process plant that extracts the lithium while allowing the bulk of the water to be returned to the ground (direct extraction).
The Company stated that the survey will be an addition to the data already derived from the AMT survey carried out in 2018 and will stretch the Company’s 3D AMT cover over the additional claims staked earlier this month. RLC had put its exploration for lithium brines in Nevada on hold pending the development of lithium-brine processing techniques which would enable commercial extraction of lithium from brine without reliance on the use of evaporation ponds.
RLC considers this development to indicate that the lithium-bearing brines in Nevada might soon back the initial commercial extraction of lithium from brine sans the use of evaporation ponds. These determinants bolster RLC’s initial evaluation that the structure of the brines in Nevada is agreeable to processing by direct extraction methods.
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21st Sep 07:40 PM AEST
Anson’s (ASX:ASN) Yellow Cat assays confirms Uranium and Vanadium deposits.
Anson Resources Limited (ASX:ASN), the Australian mining company, shared that it has completed Stage 2 of its uranium and vanadium exploration program at its 100% owned Yellow Cat Project, Grand County, Utah. The exploration program has confirmed high grades of uranium and vanadium.
Key highlights:
- ASN has recorded exceptional high-grade Uranium & Vanadium assays.
- Assays up to 10.33% U3O8 & 25.61% V2O5 were recorded.
- ASN has also collected samples from outcrops, ore pads and exposed mineralisation.
- Anson has completed mapping of historic drill holes and has acquired a database enabling fast track geological interpretation.
- Anson’s next stage of exploration program would increase the exploration target underway.
Meanwhile, on the ASX, the ASN stock closed 3.370% higher at AU$0.092 per share.
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21st Sep 07:01 PM AEST
Resonance (ASX:RHT) updates on its recent R&D progress
ASX-listed healthcare company Resonance Health Limited (ASX:RHT) has provided the following update on its previous announcement: Filing of International Application under Patent Co-operation Treaty for Treating Viral, Inflammatory and Malignant Disease.
The updates are:
- RHT announced that the Antisense Oligonucleotide R&D Project is part of the Company’s Molecular Medicine R&D workstream, led by Resonance Health’s Sherif Boulos.
- The Company recently completed a preliminary analysis of its lead compound in a limited dosing study in a humanised liver mouse model.
- All three doses of AS3 have induced potent knockdown of the target mRNA, with the lowest dose achieving 98% efficacy.
Meanwhile, on the ASX, the RHT stock closed at AU$ 0.100 per share today.
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21st Sep 06:55 PM AEST
Schrole (ASX:SCL) to commence Schrole Events shortly
The ASX-listed human resource management technology Schrole Group Ltd (ASX:SCL) has announced the inaugural release of Schrole Events, version 1.0.
SCL mentioned that the Schrole Events is its online recruitment events solution, providing interactive and regionalised online recruitment events for Schrole’s [400] highly engaged international school and [140,000] international teacher customers.
Key highlights:
- SCL’s first event is scheduled for 27 October 2021.
- SCL shared those ten events are scheduled for this recruitment season, each targeting different regions globally.
- As per the announcement, SCL is on track for the full release of Schrole HR SaaS, enhancing revenue diversification, cross and upsell potential, and network effects.
Meanwhile, on the ASX, the SCL stock closed 10% down at AU$ 0.009 per share.
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21st Sep 06:55 PM AEST
Sipa (ASX:SRI) completes A$1.5 million capital raising
ASX-listed acquisition and exploration of mining tenements Sipa Resources Limited (ASX:SRI) announced that it had received firm commitments to raise approximately AU$1.5 million. The placement was supported by investors including an Australian specialist resources investment fund, with solid support from existing Sipa shareholders and directors.
The raised fund will be used in the following ways:
- For SRI’s further reconnaissance drilling at Warralong.
- SRI’s diamond drilling of IP targets at Wolfe Basin.
- Sipa’s maiden drilling at Skeleton Rocks and Barbwire Terrace.
- Lastly, for Sipa’s project generation and general working capital purposes.
Meanwhile, on the ASX, the SRI stock closed, trading a tad bit higher at AU$.063 per share today
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21st Sep 06:34 PM AEST
Terracom (ASX:TER) reaches final agreement to restructure existing Euroclear Bond
ASX-listed Australian-based resource Company Terracom Limited (ASX:TER) on Tuesday announced that it has reached a final agreement with the current bondholders to restructure the existing Euroclear Bond.
The Euroclear Bond maturity date has been further extended until 8 October 2021 to permit the incoming debt funder appropriate time to finalise their position with respect to a new refinance program.
The announcement revealed that in the event that the new refinance program is not settled by the extended maturity date of 8 October 2021, then the Company and Note Trustee will enact a restructured finance arrangement of the existing debt.
The Alternate Refinance requires principal and interest to be repaid monthly up to the facility’s extended maturity date, being 31 December 2022, on commercial terms consistent with the existing bond facility.
The stock TER closed at AU$0.160 per share today.
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21st Sep 06:28 PM AEST
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21st Sep 05:54 PM AEST
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21st Sep 03:13 PM AEST
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21st Sep 02:55 PM AEST
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21st Sep 02:43 PM AEST
COVID-19 impacts first half of Metro Performance Glass (ASX:MPP)
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Leading glass processor and distributor in New Zealand Metro Performance Glass (ASX:MPP) provided an update regarding the short?term financial and supply chain impacts resulting from NZ’s COVID?19 lockdown and ongoing restrictions in Australia.
The Company has said that three of its four NZ glass processing plants were closed from the 17 August until 8 September. Besides, the fourth Auckland-based plant is currently preparing to restart operations from Wednesday.
According to today’s announcement, the Company has opted to delay the resumption of dividends which were anticipated to be announced along with the Company’s interim results in November.
The announcement revealed:
- Lockdowns in NZ have led to considerable disruption, product shortages in the supply chain, and uncertainty which are likely to impact the industry for several months to come.
- International glass supply and shipping disruptions continue to increase input costs; however, Metroglass has prudently increased its safety stock level to a comfortable level.
- The financial impact during this period has been considerably greater than last year’s lockdown, and Group H1 EBIT is expected to be circa. $10million below last year.
- In recent years, Metroglass’ net debt has come down significantly and is expected to end H1 at the same level as the same period last year.
The stock MPP last traded at AU$0.450 per share.
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21st Sep 01:18 PM AEST
Comet Resources (ASX:CRL) posts gains upto 40% on ASX. Here’s why
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The share price of Australian mineral exploration, research, and development company Comet Resources Limited (ASX:CRL) gained 40% to trade at AU$0.035 per share on Tuesday as the Company released the results of the specialist test work on natural flake graphite from its Springdale Graphite Project located in Western Australia.
Key highlights of the result:
- CRL mentioned that the Springdale Graphite Project material has shown a remarkable performance in test programs at a specialist facility in Germany.
- CRL’s results from micronisation, spheronisation, and purification have met industry standards for battery anode material, with the achievement of up to 99.99% pure graphite content.
- As per the result, the graphite has performed exceptionally in jet milling tests – Jet milled graphite products can also achieve premium prices in graphite markets.
- Comet has also shared that it is involved in discussions with various parties seeking commercial options for the Springdale Graphite Project.
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21st Sep 01:17 PM AEST
Bass Oil (ASX:BAS) share price skyrockets 66% on ASX. Here’s why
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ASX-listed petroleum producer Bass Oil Limited (ASX:BAS) shared today that it has received Government approval for Cooper Basin Asset acquisition.
The stock BAS immediately zoomed on the ASX posting gains upto 66%.
As announced on 12 July 2021, Bass has executed a sale and purchase agreement to acquire an interest in a portfolio of Cooper Basin tenements from Cooper, including a 30% interest in the South Australian, onshore, producing Worrior gas and oil field.
As announced on 26 August 2021, BAS has completed a placement to sophisticated investors to fund consideration payment. Moreover, Bass has now received regulatory approval from the South Australian government.
The Company is seeking final approvals and expects Transaction completion by mid-October 2021.
Meanwhile, on the ASX, the BAS stock was spotted trading 66.66% higher at AU$0.0025 per share at 12:00 PM AEST.
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21st Sep 01:06 PM AEST
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21st Sep 01:02 PM AEST
ASX trims losses as mining, energy stocks rebound; APA falls after AusNet offer
The Australian shares reversed most of early losses by mid-session, led by buying in energy and material stocks. The market sentiment was also lifted after data showed that consumer sentiment edged higher last week amid falling COVID-19 cases in NSW as well as Victoria’s plan for easing curbs. However, sell-off in global markets on China worries as well as US Federal Reserve meeting kept investors on edge.
The benchmark index,?the ASX 200, was trading 12.30 points or 0.17% lower at 7,236, by lunch. The index opened lower for the third straight session today, tracking weak cues from Wall Street which finished lower overnight ahead of the highly anticipated Federal Reserve meeting. The Dow Jones plunged 1.78%, while the S&P 500 dipped 1.70%. The NASDAQ Composite ended the session 2.19% lower.
On the sectoral front, six of the 11 indices were trading in red zone.?The material and energy sectors were among top gainers, paring previous session losses, despite fall in commodity prices. The price of iron ore slipped below US$100 for the first time in 14 months as worries about the anticipated default of Chinese developer Evergrande added downward pressure on the commodity. The price fell 8.8% to US$92.98 per tonne overnight.
Meanwhile, utilities sector was the worst performer with a 1.5% loss, followed by financials, which dropped over 1%.
The top loser on the ASX pack was asset management firm Janus Henderson Group (ASX: JHG), which dropped 4.2%. Some of the other notable losers were buy now, pay later firm ZIP Co (ASX:Z1P), natural gas and energy business APA Group (ASX: APA), fintech Group Netwealth (ASX: NWL) and investment manager Magellan Financial (ASX: MFG).
Meanwhile, iron ore explorer Champion Iron (ASX: CIA) topped the gainers’ chart by rising 5.3%. The stock was the worst performer on Monday, falling nearly 9% due to fall in iron ore price. Some of the other top performers were agro firm Nufarm (ASX:NUF), resource company Lynas Rare Earths (ASX: LYC), coal miner Whitehaven Coal (ASX: WHC) and gold miner Chalice Mining (ASX:CHN).
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21st Sep 01:01 PM AEST
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21st Sep 01:01 PM AEST
Magnesium hits 13-year highs on China’s environmental concerns
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The International Magnesium Association stated on Monday that the prices of magnesium have rallied to their highest level in the last 13-years in Europe and are expected to rise further before coming to a normal level by the end of the first half of 2022. Magnesium is extensively used in the aerospace industry and to make aluminium alloys used in the automotive industry.
The prices of magnesium have been shot by widespread closures of magnesium smelting plants in China, as a part of the country's goal to limit carbon emission. Shaanxi region in China is the significant producer of magnesium in the world with no substantial output coming from outside of China.
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21st Sep 01:00 PM AEST
Why is Neuren Pharma (ASX:NEU) in news today
Neuren Pharmaceuticals Limited (ASX:NEU), the Australian biopharmaceutical company, shared on Tuesday that it has applied Investigational New Drug (IND) to the US Food and Drug Administration (FDA) for NNZ-2591. It would help in the treatment of Phelan-McDermid syndrome (PMS).
Neuren shared that it is preparing to initiate a Phase 2 trial in children with PMS in the United States following approval of the application.
According to the announcement, Neuren has already filed an IND application for NNZ-2591 to treat Angelman syndrome and is finalising an application for Pitt Hopkins syndrome. In addition, the Company has the Orphan Drug designation from both the FDA and the European Medicines Agency for NNZ-2591 in each syndrome.
NEU shared that all three are severe neurodevelopmental disorders with no approved medicines. Neuren has received clear and constructive guidance from three pre-IND meetings with the FDA Office of Neuroscience to discuss the proposed Phase 2 clinical trials.
Meanwhile, on the ASX, the NEU stock was spotted trading a tad lower at AU$2.030 per share at 12:20 PM AEST.
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21st Sep 12:47 PM AEST
ACCC approves Honeysuckle Health & nib (ASX:NHF) to form buying group
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Australia’s consumer watchdog, Australian Competition & Consumer Commission (ACCC) has given a nod to Honeysuckle Health and nib Health Funds (ASX:NHF) to form and operate a health services buying group.
The authorisation is subject to a condition that major insurers such as Medibank, HCF, Bupa, HCF and HBF in Western Australia should not be permitted to join the buying group.
The competition watchdog has granted the authorisation for five years, instead of 10 years as sought by Honeysuckle Health & nib.
It is to be noted that the Honeysuckle group aims to collectively discuss and manage contracts with healthcare providers representing nib and other private health insurers, also comprising healthcare payers who join the group.
At present, there are 36 private health insurers in Australia, excluding nib (Medibank, Bupa, HCF and HBF) account for nearly 70% of health insurance policies in the country. Earlier, in May this year, the ACCC had issued a draft determination proposing to authorise this buying group.
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21st Sep 12:47 PM AEST
Red 5 (ASX:RED) completes divestment of Siana Gold Project
ASX-listed mining and exploration company Red 5 Limited (ASX:RED) announced today the sale of its interests in Philippine company Greenstone Resources Corporation (GRC) to TVI Resource Development Inc. (TVIRD).
GRC holds both the Siana Gold Project and the Mapawa Gold Project in the Philippines.
Key highlights:
- RED received US$19 million cash consideration for the transaction.
- Net Smelter Return royalty of 3.25% payable for up to 619,000 ounces of gold, with an estimated future face value of US$36 million.
- TVI Resource Development Inc. will be securing funding to restart the Siana Gold Project, which is expected to restart operations in the first half of 2023.
Meanwhile, on the ASX, the RED stock was spotted trading 2.325% higher at AU$0.220 per share at 11:20 AM AEST.
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21st Sep 11:21 AM AEST
Perpetual Equity (ASX:PIC) announces transition to a new custodian, shares fall
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ASX-listed Australian-based Investment Company Perpetual Equity Investment Company Limited (ASX:PIC) declared via an announcement today that it will be transitioning its administration and custody services from RBC Investor Services Trust to State Street Australia Limited over the coming weeks.
Thus, in preparation for this transition, PIC will temporarily pause providing a daily net tangible assets (NTA) release to the ASX. The pause will be effective from Monday 27 September 2021, with the last daily NTA released to the ASX on Friday 24 September 2021 (for the closing NTA on Thursday 23 September 2021).
The investment Company said that it intends to recommence daily reporting of the NTA as soon as this information becomes available to release to the market, and no later than Thursday 14 October 2021.
The stock PIC was spotted trading 1.15% down at AU$1.290 per share at 11:20 AM AEST.
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21st Sep 11:07 AM AEST
Oil dips on rising US dollar
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Crude oil prices tumbled nearly 2% on Monday due to the rise in the US dollar, making oil more expensive for other currency holders.
November delivery Brent Crude oil futures last traded at US$74.40 per barrel up 0.46%, whereas November delivery WTI crude oil futures traded 0.74% up at US$70.66 per barrel as of 21 September 2021 at 10:25 AM AEST.
The dollar got a boost as worries about the solvency of Evergrande, a Chinese property developer spooked equity markets. The halt in the US Gulf Coast production for few months due to the damage caused by hurricanes, further made oil expensive. Crude oil prices have gained as much as 73.85% in the last one year.
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21st Sep 10:59 AM AEST
ASX 200 plummets at opening as Evergrande raises global concerns
Australian shares have opened on a negative note on Tuesday, as global markets witnessed a sharp sell-off on Monday over fears of debt-laden Evergrande’s probability on defaulting on its debt obligations, which may impact the pace of global economic growth. The ASX 200 tumbled 0.31% or 22.5 points to 7,225.7 during the opening session.
Wall street ended sharply lower on Monday, while a preference for safe-haven assets firmed the US dollar. The Dow Jones took a hit of 1.79%, falling to 33,964.66, while the S&P 500 was down 1.70% at 4,357.71 by the closing. The NASDAQ Composite dropped 2.17% to 14,718.02 on Monday.
Australian supermarket giant, Woolworths Limited (ASX:WOW) is looking to sell its Australian dollar bond with six and 10-year maturities. These bonds are linked to the company’s sustainability program. The company will hold a meeting tomorrow with potential buyers.
Atlas Arteria Group (ASX:ALX), developer of private toll roads has declared an unfranked dividend of AU$0.155 per share, in line with the guidance provided in 1HFY21 result announcement. The ex-dividend date is 24 September 2021.
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21st Sep 10:57 AM AEST
APA Group (ASX:APA) confirms A$9.9B proposal to AusNet
Natural gas infrastructure company APA Group (ASX:APA), has proposed to fully acquire AusNet Services Ltd (ASX:AST) for AU$2.60 per share in cash and scrip. The deal is valued at AU$9.9 billion.
The offer, revealed by APA Group today follows an offer from Brookfield priced at AU$2.50 per share, valuing the business at AU$9.6 billion.
Which ASX stocks are on investors radar today?
Meanwhile, APA’s offer is non-binding, indicative one aimed to create a listed flagship Australian group. The combined entity shall accelerate the AU$20 billion growth plan in electricity transmission infrastructure required to decarbonise the Australian economy.
AusNet received the Brookfield offer yesterday. However, APA confirms that it approached AusNet on 1 September 2021 with a confidential acquisition proposal for consideration of AU$2.32 per share. Since then, APA and AusNet have been engaged in discussions and on Thursday, APA revised the proposal.
APA has also expressed its dissent on the exclusive due diligence allowed to Brookfield without informing it.
APA’s proposal is not subject to FIRB approval, as is the proposal from Brookfield.
APA also states in the ASX announcement that the Brookfield Scheme would result in foreign and private unlisted entities controlling all transmission infrastructure. This means 100% of Victorian electricity distribution and gas distribution assets will be under foreign control. However, with APA’s offer, control will remain in an Australian public listed vehicle.
APA shares were spotted trading 3.041% down at AU$8.610 per share at 10:46 AM AEST.
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21st Sep 10:33 AM AEST
AD1 (ASX:AD1) secures Australian Department of Defence contract
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Media software service and technology platforms provider AD1 Holdings Limited (ASX:AD1) shared today that it had signed a contract with the Australian Department of Defence to pilot a department-wide mentoring program delivered by Art of Mentoring (AoM).
As mentioned in the announcement by AD1, the contract is valued at over AU$130,000 for the 12 months. This is in addition to two other contracts AoM has with the Department of Defence.
Which ASX stocks are on investors radar today?
Moreover, the announcement revealed that AoM had signed 21 new clients in the last 12 months. Seven of them since just the beginning of the new financial year.
Meanwhile, on the ASX, the AD1 stock was spotted trading at AU$0.036 per share at 10:21 AM AEST.
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21st Sep 10:30 AM AEST
BNK Banking (ASX:BBC) starts strategic review, shares spurt up on ASX
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ASX-listed provider of banking services BNK Banking Corporation Limited (ASX:BBC) has announced that it is undertaking a strategic review of the Company with an aim to further maximise BNK shareholder value. This was after the receipt of several unsolicited approaches from interested parties.
Which ASX stocks are on investors radar today?
As per the announcement, the review will include an evaluation of all strategic options available to BNK to unlock and enhance further value for BNK shareholders. There is no assurance that the Board will decide on pursuing any transaction as a result of this review.
BNK will continue to keep shareholders informed in accordance with BNK’s continuous disclosure obligations. No action is currently required by BNK shareholders, said the announcement.
The stock BBC was spotted trading 10.062% higher at AU$0.875 per share at 10:20 AM AEST.
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21st Sep 10:16 AM AEST
CIMIC’s (ASX:CIM) CPB to partner in Inland Rail South Civil Works
CIMIC Group’s (ASX:CIM) CPB Contractors has been selected, in joint venture, as the partner to work with the Australian Rail Track Corporation for the delivery of Inland Rail’s southern civil works program, the Company announced on 21 September 2021.
The Australian Government’s Australian Rail Track Corporation has selected the ACACPB Joint Venture. It is a 50-50 joint venture formed by CPB Contractors and ACCIONA Construction Australia. The JV has been formed under a Collaborative Framework Agreement (CFA) for the planning and development of civil works between Narrabri and Narromine, in northern New South Wales.
Which ASX stocks are on investors radar today?
Revenue to CPB Contractors will be confirmed after the execution of the design and construct works contracts following the CFA phase.
The civil works involved include approximately 306 kilometres of new track formation comprising bulk earthworks, drainage, bridge/viaduct structures, materials and logistics management.
Meanwhile, on the ASX, the stock CIM traded last at AU$19.390 per share.
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21st Sep 10:15 AM AEST
Atlas Arteria (ASX:ALX) to pay 15.5 cps dividend for H1 2021
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Atlas Arteria (ASX:ALX), the global toll road operator, declared a dividend distribution of 15.5 cents per share (Australian).
The dividend will be for six months ending 30 June 2021. The distribution is consistent with guidance provided by ALX in its half-year results on 26 August 2021.
ALX has reported AU$71 million of statutory net profit in the half-year and comes majorly from its APPR and Warnow Tunnels in Europe. Accordingly, the Company has decided to keep the dividend unfranked.
The dividend shall be recorded on 27 September 2021 and paid off on 5 October 2021.
ALX shares last traded on ASX at AU$6.640 per share.
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21st Sep 10:14 AM AEST
Wellfully (ASX:WFL) completes first phase of BORK collaboration in Russia
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On Tuesday, ASX-listed science-based wellness Company Wellfully Limited (ASX:WFL) announced that it has successfully completed the first phase of the collaboration with BORK.
Under the agreement announced on 11 June 2021, Wellfully has delivered its RÉDUIT-based technology to BORK, which hosts a retail network consisting of 130 owned stores, 10 prominent third-party retailers such as Articoli and Gold Apple, as well as BORK’s 350,000+ direct consumers.
The Company informed that following the product development and production activities, Wellfully successfully passed the process and product inspections performed by BORK. The products were finalised and shipped per the initial schedule. With it, the first tranche of AU$750k of the AU$2.0 million in total has been received.
Today’s announcement also revealed that Company is now focusing on the upcoming go-to-market of the range in Russia to maximise education and penetration of the ‘BORK’ labelled RÉDUIT products. Besides, the Company is actively exploring new product introduction opportunities in order to further develop the business with the new partner.
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21st Sep 10:04 AM AEST
Aurora Labs (ASX:A3D) receives A$746K R&D tax incentive refund
Aurora Labs Limited (ASX:A3D) has announced that it has received funds from its FY20/21 Research & Development incentive tax claim, in the amount of AU$746K.
These funds will mainly be used in the technology development. This features R&D costs (prototyping, printer upgrades and printing consumables), patent costs, plant and equipment and towards working capital.
Meanwhile, the stock A3D traded last at AU$0.125 per share on the ASX.
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21st Sep 09:58 AM AEST
ASX 200 to tumble at opening as Evergrande debt crisis spook global markets
World stocks ended sharply lower on Monday while safe-haven assets attracted investors as a looming crisis at property group Evergrande spook the global markets, sparking concerns ahead of a busy week of central bank meetings. Investors preferred safe-haven assets, with US Treasuries gaining in price, lowering down yields, and gold rising.
Shares of Evergrande, which has been struggling to raise funds to pay its lenders, took a hit of 10.2%, closing at HK$2.28 on Monday. Regulators have already issued a warning that its mammoth US$305 billion of liabilities could spark broader risks to China's entire financial system.
Gold notched higher on Monday as concerns about the solvency of Chinese property group Evergrande forced investors to move to safe-heaven assets. However, gains were capped by strength in the US dollar ahead of the Fed’s policy meeting.
Benchmark copper on the London Metal Exchange (LME) had fallen 3.2% to US$9,010 per tonne at 1603 GMT. Prices of the metal used widely in the construction industry earlier touched a low of US$9,005 a tonne, the lowest since 20 August 2021.
Local Miners such as BHP Group Limited (ASX:BHP), Fortescue Metals Group Limited (ASX:FMG) and Rio Tinto Limited (ASX:RIO) could see a gap down opening in today’s session.