• XEC down 2.7%
  • XJO down 1.8%
  • Dateline Resources (ASX: DTR) hits the trifecta 


Markets across Asia are mostly heading downtown following Wall Street’s latest sell-off.  Tech names are in the biggest mess thanks to the latest inspired chaos out of the tank-heavy Nasdaq.

The benchmark S&P/ASX 200 index was down 1.89% while losses on the small caps 200 have been accelerating in afternoon trade, to be 2.7% down 30 minutes ahead of the close.

All sectors are firmly in the red, with REIT’s and resources shedding 2%. Tech stocks are short a spectacular 8%.

I don’t like to pick on the blue chips – we’re a family publication – but it’s hard not to give a quick shout out to Altium and Xero – down 13% and 12% respectively. The Tech Stock Formerly Known as Square (Block) is down about 16%.



(Stocks highlighted in yellow rose after making announcements during the trading day).

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The explorer Dateline Resources (ASX: DTR) hit  the trifecta – thick, shallow, and high-grade gold in data validation drilling at the ‘Colosseum’ project in the US, including 10.67m at 13.71g/t from 18.29m.

This drilling was mostly designed to confirm (or validate) historical 1990’s drilling data – which it did – so these results aren’t entirely unexpected.

However, DTR says that some holes were also drilled beneath the historic resource.

Vango Mining (ASX:VAN) hasn’t made any announcements today, but shares are up circa 18%.

The advanced explorer’s share price, largely stifled by legal issues, bounced back in big way after scoring $10m via a new strategic investor in early April.

VAN’s main game is the high grade 1Moz ‘Marymia’ project in WA, where it is focused on growing the resource.

“This campaign is designed to deliver ‘critical mass’ to increase the mine life of a proposed future mining operation from Marymia’s resource base, specifically targeting an increase in total ounces to ensure that mill capacity of any future mining operation is maximised over the Project’s total mine life,” it said in April.

The explorer has targeted 11 new near surface resources amenable to open pit mining where, all up, 56 holes for 8,914m of drilling has been conducted.

A resource upgrade is pencilled in for the end of this quarter.



(Stocks highlighted in yellow fell after making announcements during the trading day).

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New Zealand King Salmon Investments (ASX: NZK) raised  $46 million through a rights offer to repay debt and fund operations for the next year, at 14 cents a pop, with eligible shareholders taking up about 83.6 per cent of their entitlement under the offer.

The company was originally seeking to raise NZ$60 million, so the circa NZ$10m shortfall will be allocated to any retail shareholders who oversubscribed to the rights offer. The remainder of the shortfall will be taken up by the offer’s underwriter, Jarden.

New Zealand Kind Salmon shares last traded at 26 cents each on Monday, May 9. They’re short about 20% today, at 19 cents.

Not the biggest by a long way, but spare a thought for Australian Strategic Materials (ASX:ASM) which has officially opened its Korean Metals Plant, located in the Ochang Foreign Investment Zone, 115km south of Seoul. The plant will produce critical metals and alloys with an initial focus on neodymium iron boron (NdFeB) and titanium metal alloys.

ASM says the move represents ‘an alternative supply of the critical metals needed to meet forecast global demand.’

They’re down about 6%.



Rex Minerals (ASX:RXM) has kicked off exploration at its Hog Ranch Gold Property in Nevada USA for the 2022 field season.

Rex said RC drilling has started at the Krista Project area with the first drill hole underway. The RC drilling program will include testing of multiple targets and extensions to earlier discoveries at Krista, Airport and Bells Project.

Regional mapping and site visits in late April at Hog Ranch confirmed new prospects locations. Rex interprets that the Cottonwood Creek Caldera hosts a major regional gold trend and multiple target types.

Surefire Resources (ASX:SRN) has planned and will now enact the next phase of drilling at the Yidbly Road Gold Prospect. Reverse circulation drilling will start next week.

Up to 4,000m of 6 face sampling reverse circulation (RC) is planned to grow the gold mineralised footprint at the Yidby Road Gold Prospect. The Surefire Yidby Gold Project is a blind discovery, hidden beneath 10 to 30m of barren overburden.

Finally, a culture review will be carried out at chemical company DGL Group (ASX:DGL) after its chief executive Simon Henry made “offensive and unacceptable” comments about celebrity chef Nadia Lim.

Henry has been widely criticised for disparaging comments he made about Lim in an interview published by NBR last week.

In an announcement to the ASX today DGL’s board said it had started a process to appoint an advisory firm to conduct an independent review of DGL’s culture, and to recommend any changes necessary to ensure its culture reflected its key values.



Step One Clothing Limited (ASX: STP) – trading halt, pending an announcement regarding the Company’s results guidance for the year ending 30 June 2022.

Talon Energy Ltd (ASX:TPD)  – trading halt, as it awaits an update regarding preliminary drilling results from the Walyering-6 well in the Perth Basin, from the project’s Operator, Strike Energy

Tyranna Resources (ASX:TYL) trading halt in connection with a proposed capital raising and project acquisition