LAST ORDERS: A bird’s eye view of all the news from the markets and elsewhere today
What a day it’s been, what a magic day… and other children’s song lyrics that probably won’t make much sense to anyone who has never been subjected to the unrelenting horrors of Jimmy Giggle and his clearly drug-addled owl.
Anyhow – since it’s been pretty manic, there’s probably a few things you missed in all the excitement, but fret not – we’ve done the hard yards for you to round up a smattering of utterings from the markets and elsewhere, to help you feel informed and wise.
I’m gonna sneak this one in because it’s simply staggering. We mentioned yesterday that the Handbag King of Paris Bernard Arnault had surpassed Elon Musk as the world’s richest man – but Musk isn’t the only one feeling the pinch over the Great Twitter Fiasco of 2022.
According to the bean counters at Investor’s Business Daily, the 10 biggest investors in Tesla have lost a combined US$132.5 billion since Musk talked his way into spending a ludicrous sum of money on Twitter and promptly breaking it like a brand new toy on Christmas morning, the moment he had it unwrapped.
To put that into some kind of perspective, that is more than the GDP of oil-rich Kuwait – a country that the US went to war to defend because of how much oil it’s sitting on top of – gone up in smoke.
And a last little look at the rapid unravelling of Sam Bankman-Fried, along with everything he ever touched on his way up and then back down the totem pole of ridiculous, (allegedly) stolen wealth.
SBF is staring down the barrel of a very, very lengthy prison sentence, which could run to as much as 115 years if he’s found guilty of everything he’s currently been charged with, and at the moment he’s being kept on ice in Fox Hill Prison in The Bahamas – which is by all accounts about as deeply unpleasant a place as you’d want to get banged up.
But this is the little nugget that caught our eye from a news.com.au story today, while explaining SBF’s options and his decision to likely fight extradition to the US, despite how foul Fox Hill is.
“‘There is no advantage to him staying, he’ll be sent to the US eventually anyway,’ said Larry Levine, founder of Wall Street Prison Consultants, which advises those convicted of white-collar crimes on how to get into better prisons.
Yep – that is a very real company doing very real things for very wealthy people who get busted with their pickle in the cookie jar – and Mr Levine, who spent 10 years in 11 different federal prisons in the US, looks every bit the way you’d expect him to.
Here he is, talking to CNN about what life behind bars was going to be like for Bernie Madoff a few years back – and it is every bit as glorious as you’d expect it to be.
That, right there, is America at its absolute finest.
Perpetual Resources (ASX:PEC) has announced a mineral resource upgrade at its flagship Beharra high grade silica sand project in Western Australia.
The company says that 90% of the updated MRE is comprised of high quality upper and lower white horizons, which are estimated to include 126.2 million tonnes at 98.6% SiO2, containing;
The entire 137.8 million tonne MRE has been defined above the water table at Beharra, which PEC says “provides a true reflection of the mineable area of the deposit.”
Elsewhere, Recce Pharmaceuticals (ASX:RCE) says it’s got a new Anti-Infective Research (AIR) Unit off the ground, thanks to a collab between the company and Murdoch Children’s Research Institute.
The collaboration grants Recce a dedicated Murdoch Children’s research team of infectious disease experts, fit-for-purpose laboratory space access to a library of clinical isolates and drug-resistant pathogens, which will be a massive boon to the company’s research into developing a new class of synthetic anti-infectives.
And finally, Gibb River Diamonds (ASX:GIB) has got some early metallurgical test results back from the Neta Gold Prospect, part of the Edjudina Gold Project in WA, which the company seems pretty proud about.
GIB lists the following results:
Additionally, one fresh sample of lower grade material indicated a lower gold extraction of 76.7%, which the company says is most likely a result of the high sulphide content of the sample, which is not indicative of the project as a whole.
Pearl Gull Iron (ASX:PLG) – Cap Raise.
Critical Resources (ASX:CRR) – Strategic Acquisition.
Koba Resources (ASX:KOB) – Cap Raise.
DMC Mining (ASX:DMM) – Exploration update.
Legacy Minerals Holdings (ASX:LGM) – Cap Raise.
PolarX (ASX:PXX) – Cap Raise.
I Synergy Group (ASX:IS3) – Cap Raise.