Last Orders: Resources and energy keep ASX in green territory
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The positive start to the week has continued for ASX stocks.
The ASX 200 closed at 7,066, 0.60 per cent higher than yesterday although it is still 100 points off its record high reached in February 2020 and last week.
Meanwhile, the ASX Emerging Companies Index closed at 2,097 points – 1.36 per cent higher.
The top sector was resources which gained nearly 2 per cent. Most other sectors finished the green with the sole exemptions being industrials which lost 0.44 per cent and health which lost 0.10 per cent.
The #ASX has closed higher for a 3rd successive session with a gain of 42.4pts or 0.6% to 7,066. Materials, energy & financials saw the biggest gains while industrials, utilities & property fell the most #ausbiz
— CommSec (@CommSec) May 18, 2021
The top winner with news was Helix Resources (ASX:HLX).
Nearly a week since the company more than doubled after intersecting large copper sulphides, it completed a $4 million capital raising to fund ongoing drilling.
In announcing the deal, managing director Mike Rosenstreich told shareholders,” The next six months will not be dull!”
Speaking of stocks that have undergone a recent share price surge, Bard1 (ASX:BD1) rose from 75 cents to $4 throughout February after validating its cancer diagnostic test. Today it told shareholders it was launching an exosome isolation and purification tool at an international conference this week.
Fellow cancer diagnostics stock Rhythm Biosciences (ASX:RHY) gave a commercial update. It is aiming for its first revenue in late 2022 and has started work on obtaining CE Mark and TGA approval.
Woodside (ASX:WPL) announced it was exiting its 50 per cent interest in the proposed Kitimat LNG development in British Columbia Canava. While the decision will cut its net profit after tax by US$40 million to US$60 million, it says the decision will help it focus on higher value opportunities in Australia and Senegal.
Gold producer St Barbara (ASX:SBM) fell after cutting its production guidance, noting difficulties in a change of mining contractors and negative grade reconciliation. It is expecting between 330,000 and 360,000 ounces, down from 370,000 to 380,000 ounces and its all in sustaining cost (AISC) is higher than previously estimated.
Potash play Agrimin (ASX:AMN) signed an off-take agreement with Chinese importer Sinofert providing for 150,000 tonnes per annum. The company said this is the largest off-take volume for any Australian sulphate of potash project.
EML Payments (ASX:EML) – response to Ireland regulations
Tymlez (ASX:TYM) – capital raising
Great Boulder Resources (ASX:GBR) – capital raising
Agrimin (ASX:AMN) – offtake agreement
Boadicea Resources (ASX:BOA) – capital raising
Zeleika Gold (ASX:ZAG) – exploration results
Latitude Consolidated (ASX:LCD) – resource update
BPM Minerals (ASX:BPM) – asset acquisition
QMines (ASX:QML) – exploration results
Artemis Resources (ASX:ARV) – capital raising update
Province Resources (ASX:PRL) – announcement
Manas Resources (ASX:MSR) – capital raising
Laybuy (ASX:LBY) – capital raising
PPK Group (ASX:PPK) – joint venture