In Case You Missed It: Data centres, gold and cannabis take the lead
Stockhead’s In-Case-You-Missed-It highlights some strongest performing ASX stocks that might have slipped your notice today.
It’s a short, sharp update to help frame the trading day by showing some of the biggest movers in percentage terms.
Stocks highlighted in blue have made market-moving announcements (click headings to sort).
Tiny data centre stock DXN (ASX:DXN) had negative operating cash flow for the June quarter, but says new contracts with Pilbara Minerals (ASX:PLS) and Anglo-American will “generate cash inflows for the modular manufacturing business over the next 3 quarters”.
Anglo American placed a module build order for $1.15m, which is scheduled to be delivered and installed by DXN in October 2023.
And PLS ordered 2 modular data centres for $1.8m, with delivery scheduled for February 2024.
Besra Gold (ASX:BEZ) has locked in a US$300m facility, fully funding the development of its~3Moz Bau project in Malaysia’s Sarawak region.
The facility with Quantum Metal Recovery Inc will be paid over 30 months against 3Moz of future gold production.
“Besra believes that the facility is one of the largest deals of its kind signed by an ASX listed junior and importantly the facility is not debt and is interest free,” the company says.
“The facility, which is to deliver up to US$10,000,000 per month, is expected to remove the need for dilutive equity financing and project/corporate debt that would encumber Besra with hedging requirements and/or onerous covenants.”
BEZ is required to produce gold concentrate in a pilot plant on or before 31 December 2023. If it doesn’t, the legally binding Gold Purchase Agreement (GPA) may be terminated by Quantum Metal Recovery.
Cannabis focused biotech Bod Science (ASX:BOD) announced the completion of its pharmacokinetic (PK) studies evaluating the bioavailability of cannabidiol (CBD) in capillary blood samples.
Successful completion of a PK study is the final condition for the acquisition of the Aqua Phase delivery technology.
BOD is in the process of acquiring Aqua Phase, a potential breakthrough technology that could radically improve the bioavailability of CBD medications.
Strickland has received a further $39 million in cash, and has been issued 1.5 million fully paid ordinary NST shares.
And Brightstar Resources (ASX:BTR) has executed a farm-out deal of its non-gold assets of the Lake Goongarrie project to DevEx Resources (ASX:DEV) – but keeps all the gold rights across the E29/0966 and E29/0996 tenements and retains a 25% exposure to other minerals.
At Stockhead we tell it like it is. While Besra Gold, Strickland Metals and Brightstar Resources are Stockhead advertisers, they did not sponsor this article.