Connect with us

Australia

S&P/ASX 200 falls 0.92% as Australias population growth hits 13½-year low

S&P/ASX 200 (INDEXASX:XJO) halted its two-day run of gains with a 55 point or 0.92% fall to 5,936.5.

While most sectors ended in the red, mining, retailing and communication stocks fell most. Only the utilities sector gained.

Airliners struggled with Qantas (ASX:QAN) down 3.7% as Australias national carrier will cancel most international flight until October.

Major miners declined with Fortescue Metals Group Limited (ASX:FMG) falling 4.24% and Northern Star Resources Ltd (ASX:NST) losing 1.96%.

Population growth rate eases[hhmc]
Australias population increased by 349,833 people during calendar 2019 to 25,522,169 people.

Overall, Australias annual population growth rate eased from 1.43% to 1.39% – the slowest pace in 13½ years.

Western Australia was an exception with mining activity luring more Aussies and overseas migrants to the region, helping the state post its strongest annual population growth rate in 5½ years.

Top gainers[hhmc]
It was another great day for Afterpay (ASX:AP..

S&P/ASX 200 (INDEXASX:XJO) halted its two-day run of gains with a 55 point or 0.92% fall to 5,936.5.

While most sectors ended in the red, mining, retailing and communication stocks fell most. Only the utilities sector gained.

Airliners struggled with Qantas (ASX:QAN) down 3.7% as Australias national carrier will cancel most international flight until October.

Major miners declined with Fortescue Metals Group Limited (ASX:FMG) falling 4.24% and Northern Star Resources Ltd (ASX:NST) losing 1.96%.

Population growth rate eases


Australias population increased by 349,833 people during calendar 2019 to 25,522,169 people.

Overall, Australias annual population growth rate eased from 1.43% to 1.39% – the slowest pace in 13½ years.

Western Australia was an exception with mining activity luring more Aussies and overseas migrants to the region, helping the state post its strongest annual population growth rate in 5½ years.

Top gainers


It was another great day for Afterpay (ASX:APT) hitting record highs for the third day in a row.

Other top gainers on the ASX include 9 Spokes International Ltd (ASX:9SP) (+27.27%), Volt Resources Ltd (ASX:VRC) (+5.26%), Ioneer Ltd (ASX:INR) (+5.00%) and Platina Resources Limited (ASX:PGM) (+4.35%).

Proactive news headlines:

PolarX prepares for Zackly East drilling following strongly supported $3.76 million placement


PolarX Ltd (ASX:PXX) is preparing for a 3,000-metre drilling program at the Zackly East gold-copper skarn within its Alaska Range Project following a strongly supported $3.76 million placement. The company aims to begin the drilling in four weeks using two drill rigs with the program of 15-20 holes expected to take around six to eight weeks.

Macarthur Minerals updating Lake Giles magnetite resource ahead of feasibility study


Macarthur Minerals Limited (ASX:MIO) (CVE:MMS) enjoyed an active start to 2020 with the ongoing development of its flagship Lake Giles Iron Project in Western Australia. The impacts of COVID-19 travel restrictions on operations have been minimal and the goal going forwards is to complete a feasibility study for the project.

Emperor Energy engages AGR to plan and design exploration well in Judith Gas Field offshore Victoria


Emperor Energy Ltd (ASX:EMP) has engaged global well management company AGR to plan and design the Judith 2 Exploration Well in Judith Gas Field in the offshore Gippsland Basin, Victoria. Judith Gas Field, which is 100%-owned by EMP and hosts a P50 unrisked prospective resource of 1.2 Tcf and a 2C contingent resource of 150 Bcf, is strategically positioned to supply high-demand east-coast energy markets in Australia.

Salt Lake Potash CEO and chairman participate in $20 million placement following shareholder approval


Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) chief executive officer Tony Swiericzuk and chairman Ian Middlemas have shown their confidence in the company's sulphate of potash (SOP) strategy through participation in a A$20 million placement. After receiving shareholder approval for their participation, on June 17 Swiericzuk acquired 505,833 ordinary shares valued at A$172,000 in a direct interest, increasing the total number held to more than 4.016 million. On the same day, Middlemas acquired 2.25 million shares worth A$765,000 in an indirect interest, increasing the number of securities held after the change to 14.25 million.

Infinity Lithium doubles on key European partnership and investment deal


Infinity Lithium Corporation Ltd (ASX:INF) (FRA:3PM) has further strengthened its European lithium supply strategy by executing binding agreements for a multi-staged funding and added services assistance package with European Union-based innovation initiative KIC InnoEnergy SE. Shares doubled to A$0.14 on the news which sees INFs San José project in Spain become the first lithium project to secure European funding from EIT InnoEnergy, a recently launched platform created by the European Battery Alliance (EBA).

archTIS secures first commercial Defence Industry contract with Northrop Grumman


archTIS Ltd (ASX:AR9) has secured its first Defence Industry commercial contract with Northrop Grumman Corporation (NYSE:NOC) to purchase an initial 50 licences of AR9s Kojensi cloud platform to securely share information for its business development teams. This contract with the global US$53 billion Military System Integrator (MSI) has initial annual recurring reRead More – Source

Continue Reading

Australia

Emmerson Resources raising up to $4.5 million accelerate NSW gold exploration

Emmerson Resources Ltd (ASX:ERM) has secured commitments to raise up to $3.5 million in an oversubscribed placement to institutional and sophisticated investors with a Share Purchase Plan (SPP) also planned to raise up to a further $1 million.

Proceeds from the capital raising will be used to accelerate exploration of the company's gold and copper-gold prospects in NSW as well as to support its emerging gold royalty business.

New US-based investor[hhmc]
Consistent with the companys objective of diversifying its shareholder base, Canada's new resource-focused merchant bank Palisades Goldcorp Ltd has subscribed for $2 million of the placement to become a new strategic investor providing visibility to the important North American market.

Under the placement, Emmerson will issue about 35 million fully paid ordinary shares at an issue price of 10 cents each.

“Strong position” to advance projects[hhmc]
Managing director Rob Bills said: “This new funding places Emmerson in a str..

Emmerson Resources Ltd (ASX:ERM) has secured commitments to raise up to $3.5 million in an oversubscribed placement to institutional and sophisticated investors with a Share Purchase Plan (SPP) also planned to raise up to a further $1 million.

Proceeds from the capital raising will be used to accelerate exploration of the company's gold and copper-gold prospects in NSW as well as to support its emerging gold royalty business.

New US-based investor


Consistent with the companys objective of diversifying its shareholder base, Canada's new resource-focused merchant bank Palisades Goldcorp Ltd has subscribed for $2 million of the placement to become a new strategic investor providing visibility to the important North American market.

Under the placement, Emmerson will issue about 35 million fully paid ordinary shares at an issue price of 10 cents each.

“Strong position” to advance projects


Managing director Rob Bills said: “This new funding places Emmerson in a strong position to advance our NSW projects to the next phase while momentum builds in our emerging gold royalty business at Tennant Creek.

“We welcome Palisades Goldcorp and other new investors to the register and thank existing shareholders for their continued support.

“The strongly supported placement reflects investor appetite for Emmersons strategy and high-quality gold and copper-gold portfolio.”

For each share issued to participants under the placement, investors will also be issued one attaching unlisted option with an exercise price of 16 cents each, exercisable on or before July 8.

Share Purchase Plan


Additionally, a share purchase plan (SPP) will be undertaken through which existing holders of Emmerson fully paid ordinary shares will have the opportunity to acquire new shares and options under the same terms as the placement to raise up to a further $1 million.

The placement and SPP price are at a 4.8% discount to the last Read More – Source

Continue Reading

Australia

Cellmid has Wondfo SARS-CoV-2 rapid test distribution agreement extended

Cellmid Limited (ASX:CDY) has had the authorisation from Guangzhou Wondfo Biotech Co Ltd (SHE:300482) extended for Australia Application Pty Ltd to be a distributor of the Wondfo SARS-CoV-2 antibody test in Australia until December 30, 2020.

The company has also amended the agreement with Australia Application for Cellmid to be a distributor of the Wondfo test in Australia until December 30, 2020, with the previous minimum order requirements removed.

The amended agreement is subject to Cellmid maintaining registration of the product with the Australian Therapeutic Goods Administration.

Both the agreements would be extended beyond December 30, 2020, with written consent.

Cellmid shares have been as much as 20% higher today to 12 cents.

Antibody tests for clinical management[hhmc]
As the pandemic progresses in the coming months, it is Cellmids opinion that serological testing, including rapid tests, will have an important role in widespread population surveys as well as in research ..

Cellmid Limited (ASX:CDY) has had the authorisation from Guangzhou Wondfo Biotech Co Ltd (SHE:300482) extended for Australia Application Pty Ltd to be a distributor of the Wondfo SARS-CoV-2 antibody test in Australia until December 30, 2020.

The company has also amended the agreement with Australia Application for Cellmid to be a distributor of the Wondfo test in Australia until December 30, 2020, with the previous minimum order requirements removed.

The amended agreement is subject to Cellmid maintaining registration of the product with the Australian Therapeutic Goods Administration.

Both the agreements would be extended beyond December 30, 2020, with written consent.

Cellmid shares have been as much as 20% higher today to 12 cents.

Antibody tests for clinical management


As the pandemic progresses in the coming months, it is Cellmids opinion that serological testing, including rapid tests, will have an important role in widespread population surveys as well as in research and development activities such as drug and vaccine trials and as an adjunct device in diagnostic and triage settings.

The company also pointed to a recent peer-reviewed article by the Doherty Institute in Nature Medicine around the utility of antibody tests in clinical management of COVID-19 patients In countries where the incidence of the disease has been significantly higher, such as Spain, Germany and the United States, where population-wide seroprevalence studies have commenced.

The company is confident its agreement extensions maintain its ability to participate in this potential market.

The Wondfo test


The test was recently tested by the Doherty Institute, on behalf of the TGA.

In the most relevant period of 14+ days following the onset of symptoms, it was shown to have the equal highest sRead More – Source

Continue Reading

Australia

Syrah Resources well set to capitalize on new trends in post-coronavirus global graphite markets

Syrah Resources Ltd (ASX:SYR) could end up being one of the major beneficiaries of the economic transformations that are likely to take place in the post-coronavirus crisis world.

Major themes are already emerging: supply chains are likely to become increasingly localized, the electrification of the worlds vehicle fleet is set to gather pace, and markets in general are becoming more wary of the monopolistic tendencies of some countries as regards commodities.

With its graphite production in Mozambique Syrah covers all these bases and, as its shares are currently trading at a relatively lowly A$0.31, also offers investors an entry point to the future at a reasonable price.

But what exactly is possible here?

Well, for context, its worth noting that when the Australian graphite boom was in full swing Syrahs shares were trading at around 20 times higher than they are now. Back then though, there was a bubble mentality in the market and actualization of the companys plans was still some..

Syrah Resources Ltd (ASX:SYR) could end up being one of the major beneficiaries of the economic transformations that are likely to take place in the post-coronavirus crisis world.

Major themes are already emerging: supply chains are likely to become increasingly localized, the electrification of the worlds vehicle fleet is set to gather pace, and markets in general are becoming more wary of the monopolistic tendencies of some countries as regards commodities.

With its graphite production in Mozambique Syrah covers all these bases and, as its shares are currently trading at a relatively lowly A$0.31, also offers investors an entry point to the future at a reasonable price.

But what exactly is possible here?

Well, for context, its worth noting that when the Australian graphite boom was in full swing Syrahs shares were trading at around 20 times higher than they are now. Back then though, there was a bubble mentality in the market and actualization of the companys plans was still some way off.

This time round the market is in a fairly sober mood, following months of coronavirus-related lockdowns, but Syrah is now that much closer to becoming one of the worlds major players in anode graphite production.

Indeed, at the start of the year, as graphite prices stumbled, Syrah took the decision to cut back on production to some degree, in order to assist in balancing the market. Once youre taking decisions like that, you know youve reached a position of some relevance.

The questions now are: what will that market do next, and what will Syrah do next?

A key point of departure when it comes to answering both of these questions is to consider Syrahs ongoing expansion into upstream operations in the USA.

In 2019 the company sold of the order of 160,000 tonnes of natural graphite, of which around 120,000 tonnes of fines graphite went into the Chinese market, one of the biggest in the world.

That key market will remain in place for Syrah in the years ahead, but opening up America too puts the company much further up the value chain. Currently, 100% of anode precursor, the processed material that actually ends up being used in batteries, is produced in China. And 100% of coated precursor, the finished product, is produced in Asia.

But that is about to change.

“The aim,” says Syrahs Kristian Stella, “to become the first ex-China vertically integrated producer of finished anode material from natural graphite.”

The anodes in question are the negative electrodes of lithium ion batteries, which almost everyone expects to proliferate in the coming years. Vehicle sales as a whole took a hit during the coronavirus crisis, but it was notable that in the US Tesla (NASDAQ:TSLA) outsold everybody else. Meanwhile, charging infrastructure is increasingly being rolled out and, with the word just having reminded itself of what a major reduction of atmospheric emissions would feel like, there is plenty of positive sentiment around.

And unlike many companies around, Syrah is already well positioned to take advantage. In 2018 the company bought a site in Louisiana, where it subsequently produced unpurified spherical graphite and sent out a batch of samples to potential customers.

“The intent ultimately is to address the ex-Asia market,” says Stella.

“We initially established in the USA, but since that time European electric vehicle sales have gained momentum. So, we see the potential to export from the USARead More – Source

Continue Reading

Trending