From Senex Energy to Myer: Five ASX stocks that hogged limelight today


  • Senex Energy dipped 5% on extending exclusivity period to Posco International.
  • Myer shares fell despite securing a four-year funding package.
  • Vulcan Energy Resources shares gained on lithium supply agreement with Stellantis.
  • Rural Funds Group (ASX: RFF) shares fell following new property acquisition.
  • Wide Open Agriculture dropped over 10% despite raising AU$20 million via placements.

The Australian share market started the week on a bearish note with the ASX 200 benchmark index falling as much as 1.3% by mid-session on Monday. Barring tech and materials, all sectors were floating in negative terrain. The top five losers on the ASX were real estate business Unibail-Rodamco-Westfield (ASX:URW), property management firm Vicinity Centres (ASX: VCX), fintech company EML Payments (ASX:EML), digital travel business Webjet (ASX:WEB), and property business Scentre Group (ASX:SCG).

Individual stocks that grabbed headlines include Senex Energy, Myer, Vulcan Energy Resources, Rural Funds Group, and Wide Open Agriculture. Here’s why these shares created buzz on the ASX today:

Senex Energy

Shares of Senex Energy (ASX: SXY) declined as much as 5% to hit an intraday high of AU$4.18 apiece after it extended its exclusivity period to Posco International. The share price of the homegrown energy company has gained nearly 70% on a year-to-date (YTD) basis.

The energy major has agreed to grant a two-week extension to Posco’s exclusivity period, which will now conclude on December 10, 2021

Posco, which intends to acquire 100% stake in Senex, had requested for the extension to get necessary internal and board approvals.


Shares of department store chain Myer (ASX: MYR) fell 5.6% to touch a low of AU$0.472 despite securing a four-year funding package.

The company has signed a binding agreement with J.P. Morgan and Gordon Brothers refinance its existing credit facilities with a four-year Asset Based Loan (ABL) funding package. The funding size is subjected to change, with a maximum limit of AU$215 million.

The funds, which consist of a secured revolving credit and term loan facility, were due for renewal in November 2022. The funding will provide Myer with a stable and flexible platform to execute its Customer First Plan.

“Today’s funding package provides Myer with an innovative funding solution that allows us to efficiently draw liquidity to primarily fund working capital in advance of peak trading periods,” says Nigel Chadwick, CFO, Myer.

Vulcan Energy Resources

Vulcan Energy Resources’ (ASX: VUL) shares gained 3.7% to AU$10.63 by mid-session after it inked a lithium supply agreement with Stellantis.

The lithium explorer signed a binding lithium hydroxide offtake agreement under which it will supply a minimum of 81,000 tonnes and a maximum of 99,000 tonnes of battery grade lithium hydroxide to Stellantis.

The contract is valid for five years starting 2026 when it hopes to have commenced production.

As per the company, the deal is in line with its strategy to decarbonise the battery metals supply chain, while the Stellantis electrification would ensure a sustainable supply of lithium. The company intends to become the world’s first lithium producer with net zero greenhouse gas emissions.

Rural Funds Group

Share of Rural Funds Group (ASX: RFF) dipped 1% to AU$2.90 during the day’s trade so far following cattle and cropping property acquisition.

The agricultural Real Estate Investment Trust (REIT) has acquired 27,879 hectare of cattle and cropping property in central Queensland for about AU$69 million.

The acquisition was in line with the company’s strategy to increase productivity in agricultural sectors in which RFM has operating experience and Australia has a comparative advantage.

Wide Open Agriculture

Shares of agro-based firm Wide Open Agriculture (ASX:WOA) dropped as much as 10.6% to AU$0.76 even after it raised AU$20 million to transition into plant-based product manufacturing.

The food and agricultural products manufacturer in an exchange filing on Monday said it has got commitments from investors to raise AU$20 million via a single tranche placement. The Placement will see food and agricultural products manufacturer issue roughly 26.7 million new fully paid ordinary shares at an issue price of 75 cents per share.

Funds from the Placement will primarily be used to accelerate Wide Open Agriculture’s penetration into the expanding plant-based category in food, drinks and plant-based proteins. Boosted by the development, shares of the company jumped nearly 8%.





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