Live ASX News Today
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12th Oct 09:12 PM AEDT
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12th Oct 07:10 PM AEDT
Vicinity Centres (ASX:VCX) acquires 50% interest in Harbour Town Gold Coast
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ASX-listed provider of retails asset and property management services Vicinity Centres (ASX:VCX) announced on Tuesday that the Company has made an agreement to acquire a 50% interest in Harbour Town Premium Outlets Gold Coast in Queensland.
The purchase will be made from Australian Prime Property Fund Retail for AU$358 million.
According to the announcement, Lewis Land Group will retain its 50% interest in the asset and continue to manage the property whilst Vicinity will undertake all leasing activity.
The Company stated that Harbour Town is situated in an attractive trade area, and the centre’s annual MAT is more than double the average MAT for Vicinity’s current outlet portfolio.
The stock VCX closed a tad lower at AU$1.680 per share today.
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12th Oct 06:54 PM AEDT
Bass Oil (ASX:BAS) completes Capital Raise of AU$2.5 million
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ASX-listed exploration and production company Bass Oil Limited (ASX:BAS) shared on 12 October 2021 that the recent capital raising efforts have helped the Company generate AU$2,537,560 in new funding from both the Placement and the Non-Renounceable Rights Issue.
The offer has now been fully completed with the Shortfall being placed. The Company revealed via the announcement that under the Offer, eligible shareholders were invited to subscribe for one new share for every five shares in the Company held at the Record Date at an issue price of 0.2 cents.
The Company informed that the Net proceeds would fund the Company’s Cooper Basin Portfolio acquisition, well optimisation activities and drilling of the Tangai 5 well in Indonesia.
Today, the stock BAS closed at AU$0.002 per share on ASX.
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12th Oct 04:29 PM AEDT
Lefroy (ASX:LEX) announces major drilling program for Western Lefroy tenement
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ASX-listed gold explorer Lefroy Exploration Limited (ASX:LEX) announced on Tuesday that Gold Fields Limited (NYSE: GFI) is due to start a major aircore (AC) drilling program on the Company’s tenements at Western Lefroy.
Lefroy informed that the program is part of the AU$25million Farm-In and Joint Venture (FIJV) agreement between Lefroy and Gold Fields.
Gold Fields is a South African gold producer with seven operating mines in Australia, South Africa, Ghana, Peru, and total attributable yearly gold-equivalent production of 2.2million ounces. Gold Fields also has a 50% stake in the Gruyere gold mine with Gold Road Resources (ASX:GOR) in the Eastern Goldfields. The program will include achieving close to 1318 vertical holes spaced 400m apart on traverses to have most of the land area of the Western Lefroy tenement package.
Today, the stock LEX was spotted trading at AU$0.395 per share on ASX at 2.30 PM AEDT.
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12th Oct 04:12 PM AEDT
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12th Oct 03:53 PM AEDT
Australasian Gold (ASX:A8G) secures AU$2.5M strategic placement
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ASX-listed gold exploration Company Australasian Gold (ASX:A8G) announced that it has received firm commitments to raise AU$2.5 million via a share placement at AU$0.45 per share, with 5,555,553 new fully paid ordinary shares to be issued on Tuesday.
The Company revealed that major lithium industry players Shandong Ruifu Lithium Industry Co Ltd (Ruifu) and Tangshan Xinfeng (Hong Kong) Limited (Xinfeng) have each subscribed for AU$1 million as part of the capital raise
The Placement provides A8G with considerable funding capacity to advance its exploration activity at the Mt Peake lithium project.
The Placement proceeds will be used for:
- Geochemical sampling, Surface mapping, and future drilling programs
- Future exploration activities; and
- General working capital
The stock of the Company was spotted trading at AU$0.460 at 1:55 PM AEDT.
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12th Oct 03:52 PM AEDT
Here’s why Red River Resources (ASX:RVR) trading strong today
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ASX-listed provider of minerals and mining services, Red River Resources Limited (ASX:RVR) shared on 12 October 2021 that the Company has signed an offtake agreement with leading global commodity producer and marketer Glencore International AG (“Glencore”) for copper concentrate produced at Red River’s Thalanga Operations in northern Queensland.
Red River Resources informed that the offtake agreement covers 100% of the copper concentrate produced at Thalanga until June 2023. Under the terms of the offtake agreement, Glencore will take delivery of copper concentrate at the Thalanga mine gate. It is to be noted that the Agreement continues the relationship established with Glencore since 2017.
Red River produced over 14,000 DMT of copper concentrate at Thalanga in FY2021.
The stock RVR was spotted trading 5.555% higher at AU$0.190 per share at 3:40 PM AEDT.
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12th Oct 01:32 PM AEDT
Antilles Gold (ASX:AAU) to raise A$5M to support Joint Venture
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Australia-based Company involved in the development of gold and silver project in mineral rich Cuba, Antilles Gold Limited (ASX:AAU) announced on Tuesday that the Company intends to issue up to 65.0 million fully paid New Shares at AU$0.0775 per share.
The Company revealed that it plans to raise approximately AU$5,037,500 before costs, via the issuance of these fully paid New Shares, with one free New Option attaching to each two New Shares issued.
According to the announcement, the New Options may be exercised at AU$0.13 each on or before 30 April 2023, and an application will be made to have the New Options listed on the ASX.
The Company further stated that the funds raised will partly be contributed as equity to the Company’s joint venture in Cuba, and applied to a 10,000m drilling program that started previous week.
The stock of the firm AAU was spotted trading 1.2% higher at AU$0.083 per share at 1:20 PM AEDT.
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12th Oct 01:24 PM AEDT
Chevron pledges to achieve net operational neutrality by 2050
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The American multinational energy corporation, Chevron Corp on Monday decided to set targets for cutting and reducing operational emissions and become carbon neutral by 2050. This would be a significant step for the company to join the league for taking steps to reduce carbon footprints.
The significant move to cut emissions from its upstream operations and indirect emissions include indirect emissions from power generation sources as the government and investors are raising concerns on energy companies to combat climate change.
The company's net-zero goal doesn't include the sale of greenhouse gases that are produced from all fuel products, unlike Italy's Eni and Royal Dutch Shell of Europe. Companies such as Equinor, Repsol aims to reduce all emissions by 2050.
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12th Oct 01:23 PM AEDT
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12th Oct 01:15 PM AEDT
Why are Lepidico (ASX:LPD) shares trading higher today
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Australia-based mineral exploration and development company Lepidico Ltd (ASX:LPD) has announced the execution of the Musataha Agreement with Abu Dhabi Ports Company PJSC. With this, the Company has secured the land for the Phase 1 Chemical Plant lying within the Khalifa Industrial Zone Abu Dhabi (KIZAD) for 25 years initially.
The ASX-listed Company today said that the Chemical Plant site is approximately 57,000m square and is located within KIZAD, an industrial free zone, which allows full foreign business ownership and tax exemptions on imports and exports.
The announcement revealed that under the Musataha Agreement, the off-site infrastructure would be delivered by Abu Dhabi Ports (the parent company of KIZAD) to the site boundary, including natural gas, 11kV power, industrial water, sewer services, access roads and drainage. In addition, Khalifa Port, the deepwater container port, where concentrate from Walvis Bay, Namibia, will be imported is just 15km by road from the plant site.
The stock LPD was spotted trading 4.347% higher at AU$0.024 per share at 12:35 PM AEDT.
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12th Oct 12:47 PM AEDT
Matador Mining (ASX:MZZ) reports strong results from WGH infill drilling program
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ASX-listed mineral exploration Company Matador Mining Limited (ASX:MZZ) announced on Tuesday the new diamond drilling results for the Cape Ray Gold Project in Newfoundland, Canada.
The Company stated that Infill drilling at WGH reinforces confidence in the geological model comprising a series of stacked shallowly dipping higher grade sheeted vein arrays within a broader vein stockwork. The outcomes from infill drilling of the Window Glass Hill are designed to enhance resource classification confidence, informed the Company.
The Company also revealed that Greenfield Exploration is currently in progress across the Project, with Diamond rigs drilling at the Big Pond and WGH Granite greenfield targets.
Meanwhile, the stock MZZ was spotted at AU$0.370 per share on ASX, a low of 2.632% at 12:09 PM AEDT.
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12th Oct 12:47 PM AEDT
Crude oil hits record high levels on skying demands
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Crude oil prices on Monday rose to the highest levels in years, boosted by strong global energy demand amid skyrocketing prices for power, coal, and gas in leading economies of the world including China. December delivery Brent Crude oil futures last traded at US$83.31 per barrel down 0.37%, whereas November delivery WTI crude oil futures traded 0.40% down at US$80.20 per barrel as of 12 October 2021 at 11:48 AM AEDT.
The prices rose to record high levels on the back of robust demand and lower supplies due to cutbacks from producing nations and pressure from the government for transitioning to green energy.
The Organization of the Petroleum Exporting Countries along with its allies, together known as OPEC+ had decided to increase the output gradually by 400,000 bpd to phase out the current production cut of 5.8 million bpd.
Market Analysts believe that the gas-to-oil switch could boost the demand for crude oil from 250,000 to 750,000 bpd.
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12th Oct 12:22 PM AEDT
Torian (ASX:TNR) Completes BullionFX Equity Swap Agreement
The share price of Torian Resources Limited (ASX:TNR) was quoted more than 10% higher as the materials firm announced that it has completed the equity swap agreement it entered into with BullionFX.
In March 2021, Torian Resources had struck an equity-swap deal to take a low-risk equity position in BullionFX Ltd (BullionFX). The Company had subscribed for US$1 million of BullionFX equity representing 5,000,000 shares in BullionFX. In return BullionFX will acquire 27,711,968 ordinary shares in Torian. Shares in both companies will be escrowed for 12 months.
Torian also hit a deal with BullionFX to provide advisory services around the development of gold blockchain products for 10,000,000 shares in BullionFX.
BullionFX are in the process of developing a decentralised, scalable financial ecosystem underpinned by a gold standard. The $BULL token represents a future utility within the BullionFX ecosystem.
The stock TNR was spotted trading 10.714% higher at AU$0.031 per share at 12 PM AEST.
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12th Oct 12:21 PM AEDT
ASX slips in red; miners rise, CBA and Westpac fall
The Australian shares slipped into negative terrain in afternoon trade, paring early gains. The weak global cues and persistent concerns about rising inflation in the United States continued to weigh on market sentiment. However, the latest consumer confidence data and spurt in commodity prices supported the market.
The benchmark index,?the ASX 200,?was down 14.80 points or 0.20% at 7,285, by lunch.?The index opened higher today, undermining weak cues from Wall Street and gained as much as 0.4% to hit a high of 7,330 points.?????
On the sectoral front,?seven of?11 sectoral indices were trading in positive terrain. The material sector was the best performer with 1.2% gain, owing to rise in commodity prices. The material sector was followed by?consumer staples, which rose?0.7%. Among others,?health care, A-REIT and consumer discretionary?also saw surge in buying activity.
Bucking the trend, information technology sector was the worst performer with a 1.1% loss. Telecom and financial sector also reeled under selling pressure.
The top loser on the ASX pack was health care equipment business Ansell (ASX:ANN), which dropped 4.1%. Some of the other top laggards were travel firm Corporate Travel Management (ASX:CTD), drug maker Clinuvel Pharmaceuticals (ASX:CUV), media and entertainment business REA Group (ASX:REA) and healthcare firm Polynovo (ASX:PNV).
Meanwhile, Alumina refining business Alumina (ASX:AWC) topped the ASX gainers’ chart by rising 5.6%. Some of the other notable gainers were global metal recycling business Sims Limited (ASX:SGM), diversified financial group Netwealth (ASX:NWL), gold miners Ramelius Resources Limited (ASX:RMS) and Gold Road Resources Limited (ASX:GOR).
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12th Oct 12:12 PM AEDT
Pathfinder (ASX:PF1) announces official listing of Equinox Resources on ASX
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ASX-listed precious metals exploration and development company Pathfinder Resources Limited (ASX:PF1) shared on 12 October 2021, that Equinox Resources Limited has been admitted to the Official List of the ASX with the commencement of trade of its securities at 10:00am (WST) on Wednesday, 13 October 2021.
The Company revealed via the announcement that Pathfinder received 35,000,000 shares in Equinox under the transaction, indicating an interest of 36.65% in Equinox and permitting Pathfinder and its shareholders to have exposure to the Hamersley Iron Ore Project through the Company’s equity interest in Equinox. In addition, the spin-out enables Pathfinder to direct its efforts on the development of the King Tut Project in Argentina.
Besides, PF1 today stated that the admittance of Equinox to the Official List of the ASX, follows the successful completion of the AU$9.0 million initial public offering under its Prospectus dated 31 August 2021.
The Stock PF1 was spotted trading at AU$0.062 per share on ASX at 11:44 AM AEDT.
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12th Oct 12:09 PM AEDT
YPB launches MultiSec® Shield targeting Government document authentication
Anti-counterfeit and consumer engagement solutions provider YPB Group Limited (ASX:YPB) shared on 12 October 2021 that it has launched MultiSec® Shield, its first commercial document authentication product to target the supply of the government documents markets globally.
The launch follows US patent grant on 5 October 2021.
MultiSec® Shield is a significant new product for the authentication of documents enabling entry into the government and related documents authentication market. It is a smartphone readable over-laminate incorporating MotifMicroTM.
This provides immediate smartphone verification as to whether a document is fake or real.
The stock YPB, backed by the announcement, was trading 30% higher at AU$0.006 per share at 11:40 AM AEDT on the ASX.
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12th Oct 11:45 AM AEDT
ASX opens flat; BHP, RIO, FMG surge on rising iron ore prices
On Tuesday, the Australian share market opened on a flat note, but the US markets had a weak overnight closing on Wall Street as concerns over global energy supply clouded investor sentiment just before the start of the earnings season. The ASX 200 was trading 0.9 points up in the early trade.
Oil prices continued their rally on Monday to a multi-year peak, supporting US materials and energy stocks, but fears over supply-chain snags caused Wall Street indices to give up early gains
The S&P 500 lost 0.69% to end at 4,31.19 points, while the NASDAQ Composite was down 0.64% to 14,486.20. The Dow Jones Industrial Average ended the session 0.72% lower at 34,496.06.
As of 11:00 AM AEDT, the ASX 200 made some quick gains and was trading 0.2% or 14.5 points up at 7,314.4, while the ASX All Ordinaries index was up 0.17% or 12.6 points to 7,613.7. The rising iron ore price sent local miners BHP Group Limited (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue Metals Group Limited (ASX:FMG) higher in early trade.
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12th Oct 11:45 AM AEDT
CSL Limited (ASX:CSL) sticks to profit guidance, revenue to climb up
Pharma company CSL Limited (ASX:CSL) concluded its annual general meeting for FY21. The Company’s management said that it even expects to post a profitable FY22. It expects the FY22 profit range to be between US$2.15 to US$2.25 billion. Expectations are also for revenue growth on a constant currency basis, between 2 to 5%.
CSL top management clarified that increased costs could hurt the gross margins for its core plasma collection business. However, the hit shall be offset by some modest margin expansion from its Seqiris flu vaccine business.
Why WBC, NCM, CSL, WOR, TLS on investors radar today?
In FY21, two of CSL’s specialty products showed solid growth; that is, Haegarda was up 14%; and Kcentra up 7%. Its Albumin sales also grew 61% as CSL sales normalised in China. It is seeking growth and expansion across the business in FY22.
On ASX, CSL share price has moved up slightly and is at AU$289.930 per at 10:27 AM AEST.
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12th Oct 11:44 AM AEDT
Worley (ASX:WOR) bags service contract from Saudi Aramco
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Energy Sector service company Worley Limited (ASX:WOR) has bagged a services contract for a residue upgrade project at Saudi Aramco’s Ras Tanura refinery.
The project will convert low-value refinery residue into higher-value products like gasoline, jet fuel and ultra-low sulphur diesel.
Why WBC, NCM, CSL, WOR, TLS on investors radar today?
WOR, under the contract, will provide early front-end engineering design (pre-FEED), front-end engineering design (FEED) and project management services. It covers upgrades to the atmospheric and vacuum gas oil from the crude distillation unit, and an upgrade to the atmospheric gas oil from the Khuff condensate unit.
The contract is a follow on from the successful completion of front-end conceptual studies by Advisian, WOR’s consulting business.
On ASX, WOR shares are trading at AU$10.790 per at 10:39 AM AEST.
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12th Oct 11:34 AM AEDT
Newcrest’s (ASX:NCM) new projects to lift copper production upto 37%
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Newcrest Mining Limited (ASX:NCM) shared on Tuesday that the Company’s Board has approved the progression of all the Pre-Feasibility Studies (PFS) on across four possible new gold and copper projects featuring an internal rate of return of 16% or higher.
The mining giant shared the new projects can help lift the copper production upto 37% in the long-term.
Why WBC, NCM, CSL, WOR, TLS on investors radar today?
Newcrest also shared that there is a constant strategic focus on maximising cashflow from long life, low cost, high margin assets.
Key highlights of the PFS:
- All four organic growth options are likely to deliver an IRR of 16% or higher.
- Around 50% reduction in Group All-In Sustaining Cost per ounce is projected over the next decade.
- Material growth of around 37% in copper production is likely.
- Lihir projected to become a 1Mozpa+ gold producer.
- Multi-decade asset lives projected at Cadia, Lihir and Red Chris.
- Newcrest intends to fund all four projects through operating cash flow and existing liquidity.
Meanwhile, the stock NCM was spotted trading a tad higher at AU$24.00 per share at 10:40 AM AEDT.
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12th Oct 11:28 AM AEDT
Telstra (ASX:TLS) projects FY22 EBITDA to touch AU$7.3B
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The telecommunication giant of Australia, Telstra Corporation Limited (ASX:TLS) shared details of Company’s annual general meeting on Tuesday wherein, its guidance for FY22 underlying EBITDA has been quoted between AU$7-AU$7.3 billion as compared to FY21 underlying EBITDA of AU$6.7 billion.
The Company stated that it has an ambition to achieve AU$7.5-AU$8 billion of underlying EBITDA by FY23 and a mid-single digit CAGR from FY21 to FY25.
Why WBC, NCM, CSL, WOR, TLS on investors radar today?
For Underlying ROIC, Telstra desires to achieve around 8% by FY23, and to grow beyond this to FY25.
Telstra shares on the ASX are trading in green at AU$3.855 per share at 10:50 AM AEDT.
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12th Oct 10:53 AM AEDT
Westpac’s (ASX:WBC) profit falls by A$1.3B in second half 2021
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Westpac Banking Corporation (ASX:WBC) shared on 12 October 2021 that its reported net profit and cash earnings in the second half of 2021 will be reduced by AU$1.3 billion (after tax) due to notable items. The notable items after tax include:
- A AU$965 million write-down of assets in Westpac Institutional Bank (WIB) following their annual impairment test;
- Additional provisions for customer refunds, payments, associated costs, and litigation provisions of AU$172 million;
- Previously announced separation and transaction costs along with a deferred tax asset write-off related to the agreed sale of Westpac Life Insurance Services Limited (WLIS) of AU$267 million;
- And other costs associated with the divestment of the Group’s Specialist Businesses of AU$24 million.
Why WBC, NCM, CSL, WOR, TLS on investors radar today?
The financial business giant is likely to announce its Full Year 2021 results on Monday, 1 November 2021.
Meanwhile, on the ASX, the stock WBC was spotted trading last at AU$26.060 per share.
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12th Oct 10:14 AM AEDT
ASX 200 set to fall after Wall Street slips
The Australian share market is expected to fall on Tuesday, after the Wall Street peers declined overnight as the global energy crunch clouded investor sentiment before the earnings season. The ASX 200 may open the day 9 points or 0.1% lower this morning after falling 0.3% to 7,299.8 points in the previous session.
On Wall Street, the Dow Jones fell 0.3%, the S&P 500 slipped 0.2%, and the NASDAQ traded flat.
According to experts, Asian market sentiment is expected to be impacted by the news that beleaguered Chinese property developer Evergrande may miss its third round of bond payments in as many weeks.
The yen weakened 1.02% against the greenback at 113.38 per dollar. The dollar index rose 0.238%.
A stronger dollar pushed the euro down 0.14% to US$1.1551.
Oil prices inch higher
Oil prices rose to multi-year highs amid a rebound in demand globally and cutbacks in supply.
Brent crude rose 1.5% to $83.65 a barrel, after climbing as high as US$84.60, its highest since October 2018.
West Texas Intermediate (WTI) crude also added 1.5% to finish at US$80.52, after touching its highest since late 2014 at US$82.18.