Live ASX News Today
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23rd Sep 11:53 PM AEST
Why did Predictive Discovery (ASX:PDI) close 10% higher today
The ASX-listed metals and mining sector company Predictive Discovery Limited (ASX:PDI) announced high impact air-core drill results within 1.5 kilometres of its NE Bankan deposit.
Key highlights:
- PDI has informed that its air-core drilling followed up several regional gold auger anomalies located to the south and west of NE Bankan and has delivered excellent initial results.
- Predictive’s extensive AC drilling program will be commencing with 16 holes totalling 660m, as mentioned in this announcement.
- The company systematically tests multiple promising targets identified previously by regional auger drilling and structural analysis of aeromagnetic data.
- PDI’s Maiden Resource Estimate (MRE) is on track for completion next week.
Meanwhile, on the ASX, the PDI stock has closed, trading 10.344% higher at AU$0.160 per share today.
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23rd Sep 09:13 PM AEST
Adacel (ASX:ADA) announces 12-year extension of the ATOP Contract
ASX-listed software service provider Adacel Technologies Limited (ASX:ADA) announced the subcontract with Leidos for the FAA’s Advanced Technologies & Oceanic Procedures (ATOP) program has been extended.
The announcement has revealed that for over 20 years, Adacel has been supporting the oceanic automation software of the ATOP system through its continued collaboration with Leidos. As a result, it has increased the efficiency of operations within the U.S.-controlled oceanic airspaces of the Atlantic and Pacific and the systems’ continued modernisation.
ADA has mentioned that the ATOP contract was initially awarded in 2001, and the system went operational in 2005. With a term of one base year and eleven option years, the subcontract was further extended on substantially the same terms. Moreover, it accounted for approximately 45%-65% of the Company’s services revenues over the previous contract term.
Meanwhile, on the ASX, the ADA stock closed 5.416% higher at AU$1.265 per share today.
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23rd Sep 06:21 PM AEST
Clean TeQ (ASX:CNQ) secures Contract for EVAPX technology in Australia
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ASX-listed provider of water treatment solutions Clean TeQ Water Limited (ASX:CNQ) announced the award of a significant contract to design, procure, and deliver an EVAPX™ system to treat dirty water and obtain clean water at an agricultural by-product processing facility which is situated in New South Wales, Australia.
The contract, valued at approximately AU$1.6 million, will become operational in CYQ2 2022 when completion of construction is expected (30 weeks after contract signing). According to the announcement, the contract counterparty is Loris H Hassall Pty Ltd.
This is the 5th contract signed by Clean TeQ Water this year, indicating an accelerating market interest generated for the Company’s portfolio of unique technology solutions. Besides, there are no conditions precedent to the contract, and standard termination and warranty provisions apply.
Meanwhile, the stock CNQ closed 5.426% higher at AU$0.680 per share on the ASX today.
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23rd Sep 05:26 PM AEST
Here’s why Kingsgate (ASX:KCN) stock closed 43% strong today
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The ASX-listed gold company Kingsgate Consolidated Limited (ASX:KCN) announced that negotiations between the Company and the Royal Thai Government are now entering the final stages. Kingsgate has also been informed that the arbitral tribunal is now ready to issue the award after a lengthy period of deliberations.
As per the announcement shared by the Company, Kingsgate and the Thai Government have jointly requested that the arbitral tribunal hold the award until 31 October 2021 so that the parties are allowed a short extension to conclude their settlement negotiations.
The terms of the settlement negotiations are:
- To approve all operating licences and permit applications required to re-start and operate the Chatree Gold Mine.
- The settlement allows renewal or approval of critical exploration licence applications to access previously unavailable but highly prospective areas.
- It also allows to establish improved processes around expediting approvals of mining leases and mine plans.
- The settlement would enable the issuance of Board of Investment incentives concerning royalty and tax relief for the re-start and continuance of operations.
- The settlement would also help access development funding (if required) for plant refurbishment/expansion.
Meanwhile, on the ASX, the KCN stock closed 43.902% higher at AU$ 1.180 per share.
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23rd Sep 04:48 PM AEST
Zelira (ASX:ZLD) launches acne treatment product RAF FIVE; shares zoom
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The ASX-listed healthcare company Zelira Therapeutics Limited (ASX:ZLD) has announced the US launch of the Zelira Dermatology Business’ first product line, RAF FIVE, through its dermatology subsidiary Ilera Derm LLC.
The five-product RAF FIVE line consists of the Wash Away Gel Cleanser Acne Treatment, Spot On Acne Treatment, Kick Off Hydrating Lotion Broad Spectrum SPF 30 Sunscreen, After Hours Moisturizing Lotion Acne Treatment, and Clear the Way Acne Treatment Pads.
ZLD has mentioned that the RAF FIVE line is its first step into the acne medication market, valued at more than US$11 billion worldwide.
Meanwhile, on the ASX, the ZLD stock was spotted trading 13.157% higher at AU$0.043 per share at 11:51 AM AEST.
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23rd Sep 04:25 PM AEST
Hot Chili (ASX:HCH) acquires 100% of Cortadera, shares gain on ASX
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Copper and gold explorer Hot Chili Limited (ASX:HCH) has exercised its option to acquire 100% interest in Cortadera discovery in Chile. HCH now has full ownership of the copper-gold discovery, around a year before schedule.
The option agreement with SCM Carola, previous owners of Cortadera, was exercised on Tuesday, in Santiago, Chile, after payment of the final instalment of US$15 million. With this, HCH has now paid US$32 million since February 2019 for the acquisition of Cortadera.
HCH now owns the centre-piece of SCM Carola’s Costa Fuego copper-gold development. Since drilling operations began in April 2019, Cortadera has developed into a world-leading, large-scale discovery. This has elevated HCH’s ranking amongst copper developers globally.
As per the ASX release, Cortadera is amongst the lowest-cost acquisitions in the copper industry. With green credentials and the ability to utilise seawater processing and solar plants, it is shaping as a new generation copper project in the industry.
HCH shares on this news have moved up 6% on ASX and are trading at AU$0.039 per share as of 11:51 AM AEST.
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23rd Sep 04:05 PM AEST
Barra (ASX:BAR) resumes active exploration at Burbanks
Mining business Barra Resources Limited (ASX:BAR) shared today that its exploration activities at Burbanks are scheduled to resume imminently, with 5,500m of combined Reverse Circulation (RC) and Diamond Drilling (DD).
The exploration has been planned, along with an extensive logging and sampling campaign of the existing historical drill core, which is modelled to intercept known orebodies and likely extensions to known orebodies.
The initial review of historic unsampled drill holes is underway:
- BAR has completed 60km+ of diamond drilling at Burbanks.
- BAR has identified 25 high priority unsampled holes in the initial review.
- BAR has prioritised 15 holes for imminent logging and sampling
Meanwhile, on the ASX, the BAR stock was spotted trading 7.999% higher at AU$0.027 per share at 2:00 PM AEST.
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23rd Sep 04:04 PM AEST
Pacific Edge (PEB) dual lists on ASX, announces capital raise
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Cancer diagnostics firm Pacific Edge Limited (NZX:PEB) (ASX:PEB), announced that it had been admitted to the Australian Securities Exchange (ASX) official list as a foreign exempt listing. As a result, Pacific Edge has been allocated the ASX ticker code of ‘PEB’ to trade on either of the exchanges, and shares will need to be registered on the share register for the particular jurisdiction.
Pacific Edge is also conducting an equity raise consisting of placement of NZ$60 million (AU$58.1 million) with a Retail Offer of up to NZ$20 million (AU$19.4 million) to eligible investors.
The raised capital will be utilised for:
- Achieving the Company’s commercial milestones and accelerate the implementation of its growth strategy in markets of scale.
- Additionally, leveraging the Company’s first-mover advantage in the detection and management of urothelial cancer.
- Potentially developing and growing new product opportunities by leveraging the Company’s intellectual property across other cancers that can be detected in urine.
- Maintaining a prudent cash buffer for balance sheet management and working capital purposes as the company transitions to profitability.
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23rd Sep 04:03 PM AEST
Burley (ASX:BUR) applies for two exploration licences; shares gain
The ASX-listed iron ore and base metals explorer Burley Minerals Ltd (ASX:BUR) shared that it has applied for two exploration licences in the Hamersley Iron Ore Province of Western Australia, as its the world’s largest iron ore production district.
Key highlights:
- The Broad Flat Well ELA is a prospective for Channel Iron Deposit (CID) and Bedded Iron Deposit (BID) style iron ore mineralisation.
- BUR informed that the historical surface rock-chip sampling has returned CID grades up to 61.5% Fe.
- BUR mentioned that the existing high-grade CID targets would need drilling.
- Hardey West ELA was contiguous with Rio Tinto, BHP and FMG tenements.
- Both ELA’s are close to main roads accessing towns and ports.
Meanwhile, on the ASX, the BUR stock was spotted trading 5.769% higher at AU$0.275 per share at 12:41 PM AEST.
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23rd Sep 04:02 PM AEST
Black Canyon (ASX:BCA) confirms manganese deposits in Braeside and Oakover
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The ASX-listed mining exploration company Black Canyon Limited (ASX:BCA) has shared that a field assessment over the Braeside and Oakover West project areas in the eastern Pilbara has confirmed the presence of manganese mineralisation from previous drilling and surface mapping.
Key highlights:
- The newly discovered region by BCA mostly remained unexplored with limited drill testing only.
- Braeside is located only 60 km along strike from the operating Woodie Woodie Manganese mine.
- BCA has recorded historical drilling results at Oakover West highlight grade potential for both manganese and iron.
Meanwhile, on the ASX, the BCA stock was spotted trading 11.111% higher at AU$ 0.300 per share on 23 September 2021.
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23rd Sep 04:02 PM AEST
Helix (ASX:HLX) trades strong on Cobar copper exploration update
The ASX-listed mining company Helix Resources Limited (ASX:HLX) updated on the Company's copper-gold exploration activities at its Canbelego Joint Venture project, which is the 100% owned CZ deposit.
HLX's regional work is underway along the Collerina Copper Trend, all located in the prolific Cobar region of NSW.
Key highlights:
- HLX's final assays were received for drill hole CANDD005 at the Canbelego JV project.
- Results have confirmed additional copper mineralisation, including narrow high-grade intervals, surrounding high-grade massive copper sulphides intersected in CANDD002 – 14 metres at 4.2% Cu.
- Helix's DHEM surveying indicated that the high-grade mineralisation encountered in CANDD002 might continue at depth south of CANDD005.
- Exploration at CZ deposit would continue drilling for metallurgical sampling complete and resource extension drilling in progress.
Meanwhile, on the ASX, the HLX stock was spotted trading 2.777% higher at AU$0.018 per share at 2:00 PM AEST.
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23rd Sep 03:45 PM AEST
IRIS (ASX:IR1) lists on the ASX after A$7 million IPO
The ASX-listed mineral exploration company IRIS Metals Limited (ASX:IR1) has shared that it has commenced trading on the ASX under the code IR1 from today at 12:00 PM.
Key highlights:
- IR1’s listing was followed by completing AU$7 million Initial Public Offering (IPO) by an entity associated with successful resource entrepreneur and investor Levi Mochkin.
- IR1’s projects are located close to highly successful regional neighbours, such Genesis Minerals Limited (ASX:GMD), Carnavale Resources Limited (ASX:CAV) and Metalicity Limited (ASX:MCT) in Kookynie and Kin Mining NL (ASX:KIN) in Leonora. All have experienced drilling success in recent months.
- IR1’s exploration program is set to commence within days to test RC drill-ready targets.
Meanwhile, on the ASX, the IR1 stock was spotted trading 4.999% higher at AU$0.210 per share 3:00 PM AEST.
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23rd Sep 03:36 PM AEST
Revolver (ASX:RRR) completes A$12.7 million funding; shares zoom up 15%
The ASX-listed exploration and mining company Revolver Resources Limited (ASX:RRR) announced that it was admitted to the Official List on 23 September 2021 and has begun to trade on the Australian Securities Exchange (ASX) today, followed by a successful Initial Public Offer raising AU$12,724,526.60 before costs. RRR will be issuing 63.622.633 shares at a price of AU$0.20 per share.
Key highlights:
- Revolver’s Dianne produced 63,758 tonnes of high-grade copper ore with an average grade of 22.7 % Cu.
- Program of works to progress existing orebody with no previous drill holes below 165 m depth.
- RRR has secured drill rig to begin resource drilling program at Dianne in preparation of maiden JORC resource.
Meanwhile, on the ASX, the RRR stock was spotted trading 15% higher at AU$0.230 per share at 2:27 PM AEST.
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23rd Sep 02:51 PM AEST
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23rd Sep 02:36 PM AEST
Why is real estate firm Eureka (ASX:EGH) trending today
The ASX-listed real estate company Eureka Group Holdings Limited (ASX:EGH) confirmed on Thursday that the contract to acquire a 2.09-hectare parcel of land in Kingaroy, Queensland is now unconditional.
The Company has hit the deal for a proposed development of an independent living seniors’ rental village on this piece of land.
EGH has been given the development approval by South Burnett Regional Council for a 110 unit retirement village, including a community centre and manager’s residence.
EGH shared that the settlement of the contract is expected in October 2021.
Meanwhile, on the ASX, the EGH stock was spotted trading a tad lower at AU$0.610 per share at 10:48 AM AEST.
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23rd Sep 02:19 PM AEST
Austal (ASX:ASB)’s Chief Financial Officer resigns
ASX-listed shipbuilder and Australia’s defense prime contractor Austal Limited (ASX:ASB) announced on 23 September 2021 that the Chief Financial Officer (CFO) Greg Jason has tendered his resignation from the Company to take an extended break.
The announcement revealed that Jason started with Austal almost 15 years ago, serving in finance and operational roles for the last nine years as CFO. The Company stated that Jason would conclude his tenure at Austal in December 2021. Besides, similar to previous senior management changes at Austal, he will assist the Company in the search and transition process.
The Company said that Jason is departing with the Company in a strong financial position.
Austal is considered to be Australia’s most prominent defence exporter.
The stock ASB closed strong at AU$1.845 per share on ASX, an increase of 4.829% over the previous close.
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23rd Sep 01:57 PM AEST
News Corporation (ASX:NWS) shares trade bullish today. Here’s why
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Shares of one of Australia’s leading media conglomerates News Corporation (ASX:NWS), rose over 8% after the leading media Company doubled its share buyback program to US$1 billion. The ASX-listed Company announced in the US yesterday that its board has authorised the new repurchase program, increasing its previous $500 million program, which was initially declared in 2013.
Rupert Murdoch’s media empire could benefit from the Share repurchases in terms of a price increase if the valuation remains unchanged.
At 1:00 PM AEST, the stock NWS was spotted trading at AU$32.520 per share on ASX. The drastic jump in the shares of News Corp indicates the highest level in a month and is also a record high since the start of August. During the intraday trading on Thursday, the media company was the top-performing Company among the blue-chip companies.
Meanwhile, the rise in shares of the Company was also on account of comments from the chief executive of News Corp, Robert Thomson, wherein he said that the business would consider more acquisitions in the future.
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23rd Sep 01:57 PM AEST
PEXA (ASX:PXA) shares in green after receiving approval to operate in ACT
Online property exchange network owner PEXA Group Limited (ASX:PXA) has received approval from the Registrar General to operate an electronic lodgement network in the Australian Capital Territory (ACT).
Although the ‘go live’ date is yet to be decided by PEXA and the Registrar General. Financial institutions, government bodies and other subscribers to PEXA network, will be able to settle and lodge transactions in the ACT from that date. With the current approval, PEXA seeks to enhance conveyancing transactions via the PEXA Exchange in ACT market.
As disclosed in PEXA’s IPO prospectus, expansion of the PEXA Exchange’s offering is a key part of its growth strategy in Australia. It is thus continuing to expand into the remaining non-mandated jurisdictions. It wants to transition property markets towards a 100% digital conveyancing process via its proprietary technology.
PXA shares today are trading at AU$16.79 per share on ASX, as at 1:30 PM AEST, 2.5% above its previous close.
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23rd Sep 01:56 PM AEST
Nova Minerals (ASX:NVA) discovers further high-grade gold zones at Estelle
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Mineral explorer Nova Minerals Limited (ASX:NVA) has identified another major mineralised zone in its flagship Estelle Gold project.
The high-grade rock samples confirm exposed surface gold zones at Train and Shoeshine prospects. NVA previously observed a similar style of mineralisation, believed to be part of the same system. Follow programs for geophysics and drilling are underway for the Train Prospect and are to commence in 2022.
The company’s RPM deposit remains on track for a maiden resource, advancing the prospect on the development pipeline. Its Korbel Main is also on track for a resource upgrade in Q4, with a maiden scoping study planned after assay results are still pending.
NVA expects its global resource inventory to increase significantly in Q4 2021 as it continues to unlock the Estelle Gold district in North America.
Meanwhile, NVA shares are trading at AU$0.145 per share on ASX, as of 1:30 PM AEST.
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23rd Sep 01:55 PM AEST
ASX surges 1.2% on tech, energy boost; News Corp, ZIP, AGL lead
The Australian share market was in upbeat mood on Thursday, surging over 1% on firm global cues and strong economic data. The market sentiment was boosted by Chinese property developer Evergrande’s partial debt payment, which eased fear of potential default. The strong rally in the US stocks in the overnight trade as well as improvement in private sector activity back home also lifted sentiment. Adding to it, investors also reacted positively to outcome of Federal Reserve meeting in which the US central bank hinted to begin bond tapering.
The benchmark index?was trading 85 points or 1.16% higher at 7,381.90, by lunch. The index belled the day in positive terrain, tracking positive cues from Wall Street.
On the sectoral front, ten of the 11 indices were trading in green zone, barring health care. The information technology was the best performer with a 2.8% gain, followed by 2.3% rise in energy sector. Among others, utilities, telecom, financial and consumer discretionary also surged over 1%, while consumer staples, materials and A-REIT also traded firmly with decent gains.
The top gainer on the ASX pack was media firm News Corp (ASX: NWS), which jumped 8.3% on stock buyback plan. Some of the other notable gainers were automotive equipment provider Bapcor (ASX: BAP), travel services provider Corporate Travel Management (ASX:CTD), energy stocks AGL Energy (ASX:AGL) and payment solution company ZIP Co (ASX:Z1P).
On the flip side, plumbing products business Reliance Worldwide (ASX: RWC) topped the losers’ chart by falling 2%. Some of the other notable losers were gold miner St Barbara (ASX: SBM), mining firm Ramelius Resources (ASX: RMS), toll-road operator Transurban (ASX: TCL) and gold producer Northern Star Resources (ASX: NST).
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23rd Sep 01:55 PM AEST
Agrimin (ASX:AMN) awarded Lead Agency Status from WA government
ASX-listed minerals company Agrimin Limited (ASX:AMN) shared today that the Department of Jobs, Tourism, Science and Innovation (JTSI) would act as the lead agency for the Mackay Potash Project. JTSI is the Western Australia Government’s lead agency for significant resource proposals and will provide project facilitation assistance to the Mackay Potash Project.
The majority of the final approvals required for the Mackay Potash Project are managed by the WA Government, emphasising the importance of Lead Agency Status and streamlining the approvals process.
Agrimin is currently advancing the approvals and project financing phase of the Mackay Potash Project, with a Final Investment Decision (FID) targeted for mid-2022. The Environmental Impact Assessment (EIA) remains the critical path item to reaching an FID.
Meanwhile, on the ASX, the AMN stock last traded at AU$0.470 per share.
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23rd Sep 01:54 PM AEST
Why are Technology Metals (ASX:TMT) shares trading higher on ASX
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ASX-listed mineral exploration and development Company Technology Metals Australia Limited (ASX:TMT) announced today that it has executed a binding subscription agreement with RCF VII for an equity investment of AU$13.50 million at AU$0.375 per share.
With this, RCF VII will become a cornerstone ~18% shareholder in TMT.
Following this update, the shares of the Company rose as high as 7.499%, to trade at AU$0.430 on ASX at 11:14 AM AEST.
Notably, the total Placement size is AU$20 million (before costs) and will be completed in two tranches, via the issue of 53,333,333 new fully paid ordinary shares in TMT at AU$0.375 per New Share.
The announcement revealed that besides RCF VII subscription, firm commitments from existing and new strategic and institutional investors have been secured to raise an additional AU$6.50 million at AU$0.375 per share.
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23rd Sep 01:22 PM AEST
Triton Minerals (ASX:TON) closes strong. Here’s why
The ASX-listed mining company Triton Minerals Limited (ASX:TON) announced that it would be conducting a non-renounceable entitlement offering to eligible shareholders.
The offer would allow acquiring fully paid ordinary shares in the Company through a pro-rata non-renounceable entitlement issue based on four new Shares for every 19 Shares held by eligible shareholders.
The offer would take place at 5.00 PM WST on the scheduled date, i.e. 28 September 2021. The shares would be issued at AU$0.041 per new share and up to approximately 238,835,383 new shares. In addition, each eligible shareholder offered one free attaching new option for each one new share subscribed for under the offer to raise to approximately AU$9,792,251.
The TON Options are exercisable at AU$0.09 each and expire on 31 December 2023, and are expected to be listed subject to compliance with ASX Listing Rules.
Meanwhile, on the ASX, TON closed trading 6.06% higher at AU$0.035 per share today.
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23rd Sep 12:21 PM AEST
Kogi (ASX:KFE) proposes to acquire Macro Metals Limited
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The ASX-listed mining company Kogi Iron Limited (ASX:KFE) shared that it has signed a binding terms sheet to acquire Macro Metals Limited.
Macro Metals is an unlisted Australian public company that owns 100% of iron ore tenements within three producing iron ore jurisdictions in Western Australia.
About the acquisition:
- Kogi would purchase 100% of the shares in Macro Metals for 100% scrip consideration.
- The consideration payable for Macro Metals is- 10,000,000 Kogi Shares at 1.3 cents per share for the exclusive option for 60 days, for Kogi to complete satisfactory due diligence and 384,615,385 Kogi shares at completion at 1.3 cents per share; and o a maximum of 1.5% FOB royalty, less any other third-party royalties.
- Additionally, nominees of Macro Metals will be able to subscribe for an AU$1million placement in Kogi at an issue price of 1.5 cents per share, with up to a further AU$1 million targeted to be placed by Kogi, for a total placement of up to AU$2 million.
Meanwhile, on the ASX, the KFE stock closed 6.250% higher at AU$0.017 per share today.
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23rd Sep 12:20 PM AEST
Why did Predictive Discovery (ASX:PDI) close 10% higher today
The ASX-listed metals and mining sector company Predictive Discovery Limited (ASX:PDI) announced high impact air-core drill results within 1.5 kilometres of its NE Bankan deposit.
Key highlights:
- PDI has informed that its air-core drilling followed up several regional gold auger anomalies located to the south and west of NE Bankan and has delivered excellent initial results.
- Predictive’s extensive AC drilling program will be commencing with 16 holes totalling 660m, as mentioned in this announcement.
- The company systematically tests multiple promising targets identified previously by regional auger drilling and structural analysis of aeromagnetic data.
- PDI’s Maiden Resource Estimate (MRE) is on track for completion next week.
Meanwhile, on the ASX, the PDI stock has closed, trading 10.344% higher at AU$0.160 per share today.
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23rd Sep 12:18 PM AEST
Santana Minerals (ASX:SMI) close 40% up. Here’s why
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On Thursday, the shares of ASX-listed Santana Minerals Limited (ASX:SMI) close 40.909% up at AU$0.155 per share today after the gold and silver explorer announced significant assay results from the fully owned Bendigo-Ophir Project.
Since November 2020 drilling in Bendigo-Ophir Project has concentrated on fast-tracking rise in Inferred Gold Resources at four RSSZ deposits.
The announcement revealed that MDD014 intersects 21.7 metres @ 5.7 g/t of gold from 174.3 metres at the northern extent of the Rise and Shine (RAS) Deposit comprising:
- 5.7 metres @ 11.19 g/t Au from 174.3 metres
- 4.0 metres @ 12.60 g/t Au from 187.0 metres
Santana Minerals stated that the robustness of the gold mineralisation is now confirmed by MDD014 partial assays reinforcing earlier reported 2020-2021 drilling outcomes that have revealed the emergence of a new mineralised system at RAS.
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23rd Sep 12:06 PM AEST
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23rd Sep 11:43 AM AEST
What made oil prices edge up today?
Rising oil prices | Source: © Emeraldgreen | Megapixl.com
Crude oil prices inched higher on Wednesday on the back of falling US crude oil inventories to their lowest level in the last three years amid a robust recovery in refining activity followed by two storms. November delivery Brent Crude oil futures last traded at US$76.03 per barrel up 0.14%, whereas November delivery WTI crude oil futures traded 0.21% down at US$72.08 per barrel as of 23 September 2021 at 10:29 AM AEST.
US crude inventories during the last week tumbled to 414 million barrels, plunging 3.5 million barrels to reach the lowest level since October 2018, as per the US Energy Information Administration. The oil facilities in the US Gulf of Mexico resumed their output to reach 10.6 million bpd by rising 500,000 bpd in the most recent week.
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23rd Sep 11:42 AM AEST
What made Copper futures rebound today?
Rising copper price | Source:© Krisdog | Megapixl.com
Copper prices climbed up nearly 4% on Wednesday on relief that China's Evergrande would pay interest on a domestic bond, relaxing the country's second-biggest property giant's troubles to hit the global economy. December delivery copper futures on COMEX traded 0.06% down at US$4.22 per pound as of 23 September 2021 at 11:01 AM AEST.
The futures surged significantly after touching one-month lows, earlier this week. Copper prices hit a record high level during May 2021 of US$4.9 per pound due to strong demand from the manufacturing industry and tight supplies from Chile. Cochilco, Chile’s copper commission forecasts that the global copper market will remain supply deficit of 153,000 tonnes in 2021 and a surplus of 190,000 tonnes in 2022.
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23rd Sep 11:42 AM AEST
Uscom (ASX:UCM) finds BP+ 94% Effective for AF Screening in Primary Care
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On Thursday, ASX-listed Australian medical device Company Uscom Limited (ASX:UCM) revealed details of a study confirming the high accuracy of the Uscom BP+ central blood pressure monitor to detect the dangerous cardiac rhythm abnormality Atrial Fibrillation (AF) in a primary care setting.
The Company said that the results confirm that BP+ supra systolic oscillometry is 94% effective for detecting AF in-home care environments and may be used as a screening investigation.
AF is a common cardiac dysrhythmia occurring in approximately 40m adults worldwide. Unfortunately, it is associated with significant mortality and morbidity from stroke and heart failure and is often undiagnosed.
The BP+ supra systolic monitor is a specialised technology for diagnosis and therapeutic guidance in hypertension and vascular health. The accurate detection of AF as part of the current BP examination using the BP+ supra systolic oscillometer expands the utility and application of the technology. It simplifies the primary care assessment of cardiovascular risk.
The stock UCM was spotted trading 3.5% lower at AU$0.135 at 11.20 AM AEST.
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23rd Sep 11:31 AM AEST
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23rd Sep 11:10 AM AEST
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23rd Sep 11:10 AM AEST
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23rd Sep 10:43 AM AEST
ASX 200 opens higher as Wall Street rebounds
The Australian share market notched higher at the opening on Thursday, on the back of tech stocks surging in sync with Wall Street which closed sharply higher after the US Federal Reserve signaled to taper its stimulus soon. At the opening, the benchmark index, the ASX 200 gained 12.4 points or 0.17% to 7,309.3, reclaiming the 7,300-mark.
US stocks ended in green on Wednesday as market participants took in stride the latest signals from the Fed, including its clear stance on reducing its monthly bond purchases soon. The Dow Jones rose 1% to 34,258.33, while the S&P 500 gained 0.95%, to 4,395.63. The NASDAQ Composite ended the session 1.02% up, at 14,896.85.
Brickworks Limited (ASX:BKW), manufacturer of building material reported a net profit of AU$239.2 million for FY21, falling 20% over the last year. Although EBITDA grew 61% to AU$453.5 million, the significant items related to costs hit the profit figure.
Investment company, Washington H. Soul Pattinson and Co. Limited’s (ASX:SOL) profit for FY21 rose by a massive 93% to AU$328.1 million, allowing the company to announce the highest dividend in 19 years. Robust performance from Brickworks, Round Oak Minerals and New Hope contributed to the performance.
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23rd Sep 10:18 AM AEST
Youfoodz (ASX:YFZ) announces new facility in Queensland
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Youfoodz Holdings Limited (ASX:YFZ), one of Australia’s fastest growing consumer food brands, has provided an update in relation to its new custom built facility project.
Youfoodz today announced that it has signed an Agreement for Lease with LOGOS Property Group for the construction and lease of a new production facility at Berrinba in Queensland.
The new approximately 13,700msq facility will combine Youfoodz’ three existing production sites, together with its marketing, administration and distribution locations into one custom built facility.
Meanwhile, on the ASX, the stock YFZ traded last at AU$0.920 per share.
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23rd Sep 10:15 AM AEST
Identitii (ASX:ID8) signs Contract with Standard Chartered Australia
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Software firm Identitii Limited (ASX:ID8) has signed a Master Technology Agreement (MTA) plus a 3-year licence agreement with Standard Chartered Australia (SCB).
Under the terms of the agreement, SCB will licence Identitii’s new Software-asa-Service (SaaS) platform, initially in Australia.
SCB is the second global correspondent bank to sign a master technology agreement and the fourth global brand to sign a multi-year contract with Identitii.
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The MTA also provides the opportunity for Identitii to further expand its partnership with SCB businesses in other locations. Activity and revenue are laid out in Order Forms, the first of which is worth AU$0.3 million to Identitii.
The stock ID8 traded last at AU$0.240 per share on the ASX.
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23rd Sep 10:01 AM AEST
Core Lithium (ASX:CXO) signs a Mining Services Contract for Finniss Project
Construction-ready lithium developer Core Lithium Ltd (ASX:CXO) announced it has signed a Mining Services Agreement with Lucas Total Contract Solutions for the provision of open pit mining and associated services at the Company’s wholly owned Finniss Lithium Project. This project is located near Darwin in the Northern Territory.
The Mining Contract represents another major step on Core’s path towards commencing construction at the Finniss Project in 2021.
Lucas is engaged for the 3-year open pit mining services agreement for the Grants open pit. The Grants open pit is the first mine that will be developed at the Finniss Lithium Project, with first lithium production expected in late 2022.
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The scope of work covers the construction and mining of the Grants Open Pit Mine including clear and grub, topsoil management, pads, roads, dumps, dams, bunds and water controls and open pit mining.
The execution of the Mining Contract closely follows the completion of a AU$91 million institutional placement and a AU$25 million share purchase plan, in conjunction with a AU$34 million equity investment.
Core expects to ramp-up construction at the Finniss Project over the course of 2022, with first spodumene production anticipated in late 2022.
Meanwhile, the stock CXO traded last at AU$0.405 per share on the ASX.
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23rd Sep 09:27 AM AEST
ASX 200 to rise after Fed flags taper soon
The Australian shares are set to rise on Thursday following strong overnight trade on Wall Street. The domestic shares are likely to surge as tech stocks take cues from US peers, which ended sharply higher after the Federal Reserve signaled to taper its stimulus soon. Even easing concerns around China’s Evergrande helped the sentiment.Cochlear, NRW Holdings and Genesis Energy are a few stocks going ex-dividend on Thursday.
The ASX 200 is expected to open 16 points or 0.2% higher, according to the latest ASX futures. On the other hand, the Dow Jones rose 1%, the S&P 500 climbed 0.95%, and the NASDAQ jumped 1%.
In a post-statement press conference, Fed chair Jerome Powell told reporters that a gradual tapering could start as early as November and that it could end by mid-2022.
US Treasury prices surged after Fed announced that it would bring down monthly bond purchases soon. It also signaled that higher interest rates may be a reality more quickly than expected. Benchmark US 10-year notes last rose 6/32 in price to yield 1.3057%.
The US dollar remained choppy after the latest policy announcement by the Fed. The dollar index rose 0.238%.