The Last Trade || ASX Ends Week At Record Closing High As Inflation Jitters Fade

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The Last Trade || ASX Ends Week At Record Closing High As Inflation Jitters Fade

This is the last show of the day - The Last Trade. Lets get started with today’s market close commentary

• Moving on to the Shares in News 

• First news. Shares of OreCorp Limited rose 4.25% to 98 Australian cents after the company provided an update on the Nyanzaga Gold Project timeline and other planned activities in Tanzania. The company is considering demerging its Western Australian exploration assets (WA Assets) to unlock their value for shareholders. The key focus of the company will now be on the development of the Project.  

• Next news. The share price of Mandrake Resources Limited dropped 6.25% to 22.5 Australian cents. The company said it received firm commitments from institutional and sophisticated investors for the placement of AU$12 million (before costs) from Mandrake’s issue of 60,000,000 new shares at an issue price of AU$0.20 per share. The placement provides the company to facilitate the imminent drilling program and broader geological and geophysical assessment of the Newleyine PGE-Ni-Cu target. Drilling is scheduled to commence at Newleyine on 14 June 2021. 

• Lets look at this penny stock. Fatfish Group Limited  to acquire 100% stake in BNPL Next, a holding company aiming to provide various corporate and consumer financial services, for AU$4.14 million.  BNPL Next owns 60% of Circo, which operated the Circopay platform, a pioneering Earned Wage Access provider in Southeast Asia.  Earned Wage Access is a fast-growing employee financial benefit solution that allows employees early access to earned wages. Following the announcement, shares of Fatfish Group jumped 18.4% to 9 Australian cents. 

• Moving on to the next news. Shares of retail fashion chains operator Premier Investments hit a record high, surging as much as 5.2% to AU$28.750, on strong outlook. The company expects Premier Retail full year EBIT to be in the range of AU$340 million to AU$360 million versus AU$187.2 million underlying EBIT last year. 

• Shares of Domino's Pizza Enterprises Limited gained as much as 2.4% to AU$116.81 per share, after pizza maker entered an agreement with Taiwan-based Formosa International Hotels Corp to acquire entire stake in PizzaVest Co Ltd for AU$79 million. 

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