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S&P/ASX 200 closes flat as Victoria records 17 new COVID-19 cases

S&P/ASX 200 (INDEXASX:XJO) ended the day 10 points or 0.17% up at 5954 and has now closed between 5,900 and 6,000 for six sessions in a row.

Real estate was the biggest gainer, up 1.2% followed by the consumer discretionary and industrial sectors. The consumer staples sector had the biggest fall, down 0.6%.

Covid-19 update[hhmc]
The largest single-day increase in global coronavirus cases was recorded on Sunday, according to the World Health Organization, after more than 183,000 new cases were confirmed worldwide.

The US saw more than 36,000 new cases on Sunday after more than 30,000 new cases were reported on both Friday and Saturday.

Australias Victoria state recorded 17 new cases of COVID-19, resulting in the closing of two primary schools in Melbourne.

Victorian premier Daniel Andrews said there would be “significant community transmission” among the new cases.

Top movers[hhmc]
The biggest movers today include Western Areas (ASX:WSA), up 16% to $2.68 and Challenger (ASX:CGF) w..

S&P/ASX 200 (INDEXASX:XJO) ended the day 10 points or 0.17% up at 5954 and has now closed between 5,900 and 6,000 for six sessions in a row.

Real estate was the biggest gainer, up 1.2% followed by the consumer discretionary and industrial sectors. The consumer staples sector had the biggest fall, down 0.6%.

Covid-19 update


The largest single-day increase in global coronavirus cases was recorded on Sunday, according to the World Health Organization, after more than 183,000 new cases were confirmed worldwide.

The US saw more than 36,000 new cases on Sunday after more than 30,000 new cases were reported on both Friday and Saturday.

Australias Victoria state recorded 17 new cases of COVID-19, resulting in the closing of two primary schools in Melbourne.

Victorian premier Daniel Andrews said there would be “significant community transmission” among the new cases.

Top movers


The biggest movers today include Western Areas (ASX:WSA), up 16% to $2.68 and Challenger (ASX:CGF) was down 10% to $4.8.

Proactive news headlines:

PolarX completes $3.76 million placement, prepares to begin Zackly East drilling


PolarX Ltd (ASX:PXX) has completed the placement of 98,982,894 ordinary shares at an issue price of 3.8 cents per share to raise $3.76 million. The company is now funded for a 3,000-metre drilling program at the Zackly East gold-copper skarn within its Alaska Range Project.

Castillo Copper raises $2.1 million to accelerate drilling at priority Arya prospect of Mt Oxide pillar


Castillo Copper Ltd (ASX:CCZ) has raised $2.1 million after completing a placement to current and new sophisticated and institutional investors with funds to expedite a drilling campaign at the Mt Oxide pillar in Queenslands copper-belt.

MGC Pharmaceuticals awarded GMP licence for EU cannabinoid medicine production facility


MGC Pharmaceuticals Ltd's (ASX:MXC) (OTCMKTS:MGCLF) Slovenian production and compounding facility has been awarded a landmark three-year Good Manufacturing Practice (GMP) licence from EU authorities for the production of pharma grade cannabinoid-based medicines and products.

Blackstone Minerals intersects 15.4-metre-wide zone of nickel sulphides at Ta Khoa


Blackstone Minerals Ltd (ASX:BSX) (FRA:B9S) has intersected a 15.4-metre-wide zone of nickel sulphide mineralisation at Ban Chang prospect of its Ta Khoa Nickel-PGE project in Vietnam. The maiden four drill holes at Ban Chang have all intersected massive sulphide nickel over a 1.2-kilometre strike within a 1.2-kilometre-long massive sulphide target zone defined by high-priority electromagnetic (EM) plates.

Horizon Minerals on-track for first gold from Boorara next month


Horizon Minerals Ltd (ASX:HRZ) is ahead of schedule with mining and haulage for the first stage of Boorara Gold Mine in the Goldfields of Western Australia and is on track for first gold production in July. Mining began on May 6, 2020, and the first ore parcel of 25,000 tonnes has been hauled from Regal East to the Lakewood Mill.

Piedmont Lithium appoints Primero Group as preferred EPC contractor for spodumene concentrator


Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) has entered into a memorandum of understanding (MOU) with Primero Group Ltd (ASX: PGX) for the delivery of a spodumene concentrator on an Engineer, Procure, and Construct (EPC) basis at the Piedmont Lithium Project in North Carolina.

Venus Metals higher on shallow bonanza-grade gold results from Youanmi JV project


Venus Metals Corporation Ltd (ASX:VMC) is encouraged by shallow bonanza-grade infill drilling results returned by joint venture partner Rox Resources (ASX:RXL) from the Youanmi Gold Project in Western Australia. The best result was 4 metres at 88.81 g/t from 27 metres, including 2 metres at 176.03 g/t at Grace prospect while other bonanza-grade results include 3 metres at 61.27 g/t from 10 metres and 2 metres at 33.53 g/t from 11 metres.

King River Resources launches SPP for shareholders to purchase up to $30,000 in shares


KingRead More – Source

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VIP Gloves set to benefit from strong outlook for glove market as outlined in new research report

VIP Gloves Ltd (ASX:VIP) looks set to benefit from strong glove market fundamentals with glove demand expected to remain robust driven by COVID-19, the upcoming US flu season and the discovery of a new swine flu strain in China, according to Macquarie Research.

The research bank expects strong earnings growth to continue for glove manufacturers in 2021, which may cause a further re-rating of the sector.

Nitrile gloves

VIP Gloves manufacturers nitrile gloves, which according to Macquarie Bank, are Type-1 allergy-free, puncture-resistant, have good barrier protection against infection and contamination and are suitable in medical and high-risk tasks.

The company said sales orders had been filled through to the second quarter of 2021, with recent orders at higher sale prices which vary, depending on the specifications and volume.

These gloves are manufactured in Malaysia.

Research note[hhmc]
In a research note titled 'Malaysia Rubber Gloves: 2nd wave is coming; Get ready for th..

VIP Gloves Ltd (ASX:VIP) looks set to benefit from strong glove market fundamentals with glove demand expected to remain robust driven by COVID-19, the upcoming US flu season and the discovery of a new swine flu strain in China, according to Macquarie Research.

The research bank expects strong earnings growth to continue for glove manufacturers in 2021, which may cause a further re-rating of the sector.

Nitrile gloves

VIP Gloves manufacturers nitrile gloves, which according to Macquarie Bank, are Type-1 allergy-free, puncture-resistant, have good barrier protection against infection and contamination and are suitable in medical and high-risk tasks.

The company said sales orders had been filled through to the second quarter of 2021, with recent orders at higher sale prices which vary, depending on the specifications and volume.

These gloves are manufactured in Malaysia.

Research note


In a research note titled 'Malaysia Rubber Gloves: 2nd wave is coming; Get ready for the ride', the bank said its investment thesis of a shortage of gloves was still intact as an additional capacity of around 70% next year was only expected to come on board late in the second quarter of 2021.

It said the sector had not seen the peak in glove demand yet, especially with a new swine flu strain in China and the upcoming flu season in the US which peaks between December and February.

“This should support overall glove demand until first half 2021 and only gradually normalise in second half 2021, having assumed a vaccine is available in mid-2021.”

Macquarie Bank said despite ambitious expansion plans from Chinese manufacturers, they would not pose an immediate threat to Malaysian manufacturers as most capacity increases in China would only gradually start in late second quarter 2021 and be rolled out on a staggered basis.

Although there is a potential oversupply risk in 2022, Macquarie Bank analyst Denise Soon said this concern “can be easily eased with the deferment of expansion plans (which we have seen in the past) or absorption from higher China domestic consumption.”

COVID-19 vaccine


Global demand for gloves is expected to normalise gradually when there is a vaccine, which will take stages to commercialise globally.

Soon said vaccine from Pfizer inc (NYSE:PFE) and German group BioNtech (NASDAQ:BNTX) had shown promising results in early testing and looked to be on track to have the first shot in early 2021.

Despite COVID-19, Macquarie Bank notes that gloves are staples within the healthcare industry and foresees continued shortages in 2021. It projects strong earnings growth to continue for glove manufacturers in 2021 estimates.

New COVID-19 cases, flu season


“New cases globally continue to be on the rise, especially in the United States, Brazil and India. In addition, some countries ie Israel, China, Korea, Europe, are currently undergoing a second-wave of COVID-19.”

As most of the vaccines are still under Phase II clinical trials, it suggests that the availability of a vaccine will likely be in mid-2021.

Macquarie Bank highlighted that the last flu season in 2019 was “one of the worst in five years”. It believes the US healthcare system will be prepared for the annual flu season by stocking up personal protective equipment (PPE) such as medical gloves. The expected stocking up activity should support demand growth in the first half of 2021.

New swine flu


Further a new type of swine flu that can Read More – Source

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Mali Lithium in trading halt ahead of announcement around Goulamina mineral resources increase

Mali Lithium Ltd (ASX:MLL) has been granted a trading halt with an announcement pending in regard to a potential increase in Goulamina Lithium Project resources in Mali, West Africa.

Unless ASX decides otherwise, the securities will remain in a trading halt until the earlier of the start of normal trading on Wednesday, July 8, 2020, or when the announcement is released to the market.

Before the halt shares were up more than 30% to 15 cents and have risen from 4.1 cents at the close on April 7.

Strong lithium results[hhmc]
In June, the company received strong and broad lithium results from RC drilling at the Danaya zone of the Goulamina project, including:

64 metres at 1.85% Li2O from 121 metres;
81 metres at 1.47% from 63 metres;
72 metres at 1.73% from 125 metres;
57 metres at 1.38% from 57 metres and 35 metres at 1.48% from 162 metres;
38 metres at 2.00% from 74 metres;
46 metres Read More – Source
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[contfnew]

Proactiveinvestors
[contfnewc]
[contfnewc]

Mali Lithium Ltd (ASX:MLL) has been granted a trading halt with an announcement pending in regard to a potential increase in Goulamina Lithium Project resources in Mali, West Africa.

Unless ASX decides otherwise, the securities will remain in a trading halt until the earlier of the start of normal trading on Wednesday, July 8, 2020, or when the announcement is released to the market.

Before the halt shares were up more than 30% to 15 cents and have risen from 4.1 cents at the close on April 7.

Strong lithium results


In June, the company received strong and broad lithium results from RC drilling at the Danaya zone of the Goulamina project, including:

  • 64 metres at 1.85% Li2O from 121 metres;
  • 81 metres at 1.47% from 63 metres;
  • 72 metres at 1.73% from 125 metres;
  • 57 metres at 1.38% from 57 metres and 35 metres at 1.48% from 162 metres;
  • 38 metres at 2.00% from 74 metres;
  • 46 metres Read More – Source
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Australia

Matador Mining directors show faith in gold strategy with placement participation approved

Matador Mining Ltd (ASX:MZZ) directors have demonstrated their confidence in the companys gold exploration strategy by participating in a $5.2 million private placement concluded earlier this year.

The participation by executive chairman Ian Murray and executive director Keith Bowes was approved by MZZs shareholders at a general meeting held last month.

Director purchases[hhmc]
On July 1, Murray purchased 1 million shares valued at $200,000 in an indirect interest and this was his first purchase of fully paid ordinary shares.

Also, on that date, Bowes acquired 150,000 shares valued at $30,000 in an indirect interest and now holds 190,000 shares in that interest.

The private placement to institutional, professional and sophisticated investors at a price of 20 cents per share raised $5.2 million.

Capital raising news upcoming[hhmc]
Matador Mining is currently in aRead More – Source

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[contfnew]

Proactiveinvestors
[contfnewc]
[contfnewc]

Matador Mining Ltd (ASX:MZZ) directors have demonstrated their confidence in the companys gold exploration strategy by participating in a $5.2 million private placement concluded earlier this year.

The participation by executive chairman Ian Murray and executive director Keith Bowes was approved by MZZs shareholders at a general meeting held last month.

Director purchases


On July 1, Murray purchased 1 million shares valued at $200,000 in an indirect interest and this was his first purchase of fully paid ordinary shares.

Also, on that date, Bowes acquired 150,000 shares valued at $30,000 in an indirect interest and now holds 190,000 shares in that interest.

The private placement to institutional, professional and sophisticated investors at a price of 20 cents per share raised $5.2 million.

Capital raising news upcoming


Matador Mining is currently in aRead More – Source

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