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S&P/ASX 200 marks fourth straight day of meagre gains

S&P/ASX 200 (INDEXASX:XJO) closed 11.3 points or 0.19% higher on Wednesday for its fourth straight session of gains – but the run has only added 29.2 points.

Materials, health and tech stocks improved while financials, energy and industrials underperformed.

Gold miners were among the big gainers following the price of the precious metal hitting 7-year highs.

Evolution Mining (ASX:EVN) and Northern Star (ASX:NST) saw some of the biggest moves, rising 6.6% and 4.9% respectively.

Skilled job vacancies in May rose as expected but it will be important to track trends in the job market over the next month before the expected decision on extending JobKeeper and JobSeeker arrangements.

At this stage an extension would appear warranted to ensure that rising economic momentum is not lost.

COVID-19 update[hhmc]
Leading US infectious disease expert Dr. Anthony Fauci told lawmakers on Tuesday that parts of the U.S. are beginning to see a “disturbing surge” in coronavirus infections.

He said ..

S&P/ASX 200 (INDEXASX:XJO) closed 11.3 points or 0.19% higher on Wednesday for its fourth straight session of gains – but the run has only added 29.2 points.

Materials, health and tech stocks improved while financials, energy and industrials underperformed.

Gold miners were among the big gainers following the price of the precious metal hitting 7-year highs.

Evolution Mining (ASX:EVN) and Northern Star (ASX:NST) saw some of the biggest moves, rising 6.6% and 4.9% respectively.

Skilled job vacancies in May rose as expected but it will be important to track trends in the job market over the next month before the expected decision on extending JobKeeper and JobSeeker arrangements.

At this stage an extension would appear warranted to ensure that rising economic momentum is not lost.

COVID-19 update


Leading US infectious disease expert Dr. Anthony Fauci told lawmakers on Tuesday that parts of the U.S. are beginning to see a “disturbing surge” in coronavirus infections.

He said that doctors are seeing “more and more” complications with COVID-19 in young people.

The comment came as more young people are ignoring social distancing measures and testing positive.

Top gainers


Top gainers on the ASX today include Brookside Energy Ltd (ASX:BRK) (+20.00%), Alkane Resources Limited (ASX:ALK) (+11.32%), Artemis Resources Ltd (ASX:ARV) (+14.75%), De Grey Mining Limited (ASX:DEG) (+24.63%), Emmerson Resources Limited (ASX:ERM) (+9.09%) and Great Boulder Resources Ltd (ASX:GBR) (+25.00%).

Proactive news headlines:

Aeris Resources completes retail component of $40 million entitlement offer


Aeris Resources Ltd (ASX:AIS) has completed the $2.59 million retail component of its 2.02 for 1 accelerated pro-rata entitlement offer which has raised $40 million. The retail entitlement offer received strong support from existing shareholders, with a total of more than 86 million applications received for almost A$2.59 million, representing a take-up rate of about 26%.

Kingston Resources moves to full ownership of Misima Gold Project in PNG


Kingston Resources Ltd (ASX:KSN) (FRA:RZZ) has bought Pan Pacific Copper Co Ltds (PPC) 19% interest in the 3.2-million-ounce Misima Gold Project in Papua New Guinea, extending its ownership to 100%. Under the sales purchase agreement, which was agreed and executed with its joint venture partner, Kingston will pay $2 million for the additional stake in two tranches.

Opyl completes $730,000 placement to build team and advance new business contracts


Opyl Ltd (ASX:OPL) has completed the placement of 7.3 million shares at a price of 10 cents per share to raise $730,000 before costs. Funds raised will provide the company with funding for working capital to build its team ahead of further expansion with new business contracts.

Havilah Resources enhances open pit starter mine potential with more high-grade gold hits


Havilah Resources Ltd (ASX:HAV) (FRA:FWL) is higher after revealing further positive results from the West Kalkaroo Gold Project within the broader Kalkaroo project in South Australias northeast, including up to 65 metres at 1.2 g/t from 77 metres. The results come from an ongoing shallow gold resource drilling program aimed at defining a gold resource as the company investigates a gold-only starter open pit operation.

Technology Metals strengthens alliance with world-leading kiln manufacturer FLSMIDTH


Technology Metals Australia Ltd (ASX:TMT) has signified its determination to develop the Gabanintha Vanadium Project (GVP) in WA through a strengthened alliance with leading kiln manufacturer FLSMIDTH, also reducing project risk. The Danish company with almost 11,700 employees worldwide has been selected by TMT under a binding Notice of Award (NoA) as preferred supplier of the key roasting kiln section for the Gabanintha processing plant.

Nanoveu shares up following Singapore antiviral protection distribution agreement


Nanoveu Ltd (ASX:NVU) shares have climbed after executing an exclusive agreement with AIBI Pte Ltd to distribute its antiviral protection technology in Singapore. Under the terms of the agreement, AIBI will incorporate the Nanoveu technology into a new range of gym and home exercise equipment to be distributed to businesses throughout Singapore.

AVZ Minerals calls tenders for US$300 million of Manono pre-mining infrastructure contracts


AVZ Minerals Ltd (ASX:AVZ) has further advanced its plans to develop the Manono Lithium and Tin Project in the Democratic Republic of Congo (DRC) by advertising tenders for a raft of pre-mining infrastructure packages. The tenders – which will be awarded once AVZ makes a Final Investment Decision to mine the Manono Project – are estimated to be collectively worth about US$300 million.

PolarX opens share purchase plan to raise a further $1 million


PolarX Ltd (ASX:PXX) has opened a share purchase plan (SPP) to raise up to $1 million after completing a placement to raise around $3.76 million. Funds from the capital raising will be used for drilling at the Zackly East gold-copper skarn within its Alaska Range Project in the U state of Alaska.

Bellevue Gold at record high after tests return high recoveries, support underground re-entry


Bellevue Gold Ltd (ASX:Read More – Source

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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

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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

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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

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