Last Orders: What you might have missed on the ASX today
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It’s been a mad one.
Global equity markets, including the ASX, reacted enthusiastically to some very positive interim clinical trial results from Pfizer’s COVID-19 vaccine candidate.
We’ve gone through all the winners and losers right here.
Buy now, pay later (BNPL) and e-commerce stocks were belted as banks boomed. Travel stocks flew. Online brokers crashed.
Gold plunged while Bitcoin stayed… steady.
US gun stocks? Down.
But should we rush out and buy everything? Not so fast, say these experts. For starters, the results haven’t been officially confirmed.
And even if they are, there’s a case that the “new normal” everyone’s been banging on about for six months is, in fact, the new normal.
Anyway. You’d be forgiven for missing these sneaky ones in the rush.
After a successful launch on Saturday which sent all four of its nanosatellites into orbit from India, Kleos Space (ASX:KSS) went straight into a trading halt to engage in a capital raising. Today, it announced it had raised $19 million via a placement of approximately 26,388,889 new ordinary fully paids CDIs.
Kleos CEO Andrew Bowyer said the company is now “well financed” to launch a second cluster of satellites in mid-2021, and develop a third cluster for launch at the end of 2021.
Kleos shares dropped 13.9% to 73.5c, close to the share price issue of 72c.
– Marenica Energy Limited (ASX:MEY) has updated the JORC Mineral Resource estimate from JORC 2004 to JORC 2012 for its Angela uranium project in the Northern Territory. The 2012 estimate is 30.8 Mlb of U3O8 at a grade of 1,310 ppm U3O8, in the Inferred category.
Marenica managing director Murray Hill said it is “a high-grade mineral resource”.
“We purchased Angela because of the benefits and cost savings anticipated through applying U-pgrade to the Angela ore,” Hill said. U-pgrade is Marenica’s in-house beneficiation process, developed in collaboration with Australia’s CSIRO that produces low volume, high-grade concentrate.
“The indicative reduction in acid consumption and potential environmental benefits, are a clear demonstration of how U-pgrade can add value to Angela,” Hill said.
MEY shares rose 1.05% after the announcement.
– Agricultural real estate investment trust Vitalharvest (ASX:VTH) jumped 23.1% on news Macquarie Infrastructure and Real Assets (MIRA) wanted to acquire it for $300 million. MIRA will pay cash of $1 per share, which was a 27.4% on yesterday’s closing price of 78.5c.
Vitalharvest owns one of the largest aggregations of berry and citrus farms in Australia, spread across New South Wales, South Australia and Tasmania, and leased to Costa Group (ASX:CGC).
Costa assured its shareholders by welcoming “any outcome that provides ongoing certainty” and that it “would be comfortable in the event that MIRA’s bid was successful”. Its shares dropped a slight 3.01% to $3.64 on the news.
– Up on no news was data roamer Flexiroam (ASX:FRX). The telco battler had its legion of loyal fans excited after buyers swooped in to send the stock up 28% today. Flexiroam positions itself as a “global connectivity provider offering data access to travellers across the world”.
It has a stated goal to “dominate the eSIM market” with a 4G data offering.
GetSwift (ASX:GSW) – results of scheme vote
Paterson Resources (ASX:PSL) – geophysics program
Victory Mines (ASX:VIC) – drilling results
Kleos Space (ASX:KSS) – capital raising
Auroch Minerals (ASX:AOU) – acquisition
Buderim Group (ASX:BUG) – capital raising
Galilee Energy (ASX:GLL) – capital raising
archTIS (ASX:AR9) – capital raising
Antisense Therapeutics (ASX:ANP) – outcome of EU application & capital raising
Crowd Media Holdings (ASX:CM8) – proposed joint venture agreements
eMetals (ASX:EMT) – exploration results
Little Green Pharma (ASX:LGP) – partnership agreement
Galena Mining (ASX:G1A) – project financing