LAST ORDERS: A slightly-less serious look at today’s markets
Well… after a very pleasant weekend to ease us into the warmer months (except for our Victorian friends, who are dealing with several massive new swimming pools that nobody ordered. Poor buggers – we’d ask you all to dig deep, but it might make thing worse), there’s nothing quite like getting slapped in the face with a big fat basket of heartbreak from a cold and unfeeling market.
Let’s take the opportunity, while we can, to snuggle up together by the fire and tell each other tall tales about how much we all mean to each other, and about the olden days when the market was well behaved and not prone to soiling its delicates at the drop of a hat.
Everyone’s favourite US market analyst hears from a diehard fan.
Jim don’t listen the haters. Me and my 7 kids watch your show every night. We have been following your stock picks for years, and it brings us closer together (we share a 1bedroom apt because I lost all my money)
— Simple Jack Capital👨🦯📉 (@SimpleJackCap) October 14, 2022
Well… we all knew it was coming, but I doubt any of us knew just how hard it was going to come when it did. The NSW Independent Casino Commission handed down its penalty to Star Casino over the numerous breaches uncovered in the Bell Report, pertaining to how Star was running its Enormous Pokies Emporium and Sideshow down by Sydney Harbour.
And it’s not pretty.
The NICC has pinged Star Entertainment Group (ASX:SGR) with a fine that is as ball-tearing as it is eye-watering – $100 million (with no timetable as to how and when it’s meant to be paid).
On top of that, SGR’s licence to operate will be suspended – indefinitely – from 9am, Friday 21 October 2022. Yowzers… kind of. Because the casino itself is set to remain open, but will be under the stewardship of NICC-appointee Mr Nicholas Weeks.
If that name sounds familiar, it’s because Mr Weeks has reportedly worked in the past as the Chief Operating Officer for the NRL, and as executive general manager of transformation and regulatory response for Crown Resorts – possibly two of the most highly-regarded and trouble-free organisations in the history of Australia, depending on who you ask.
Meanwhile, E79 Gold Mines (ASX:E79) has announced that it’s completed the purchase of the gold and mineral rights (excluding iron ore and ferrous minerals) of E51/1681 from Gascoyne Resources (ASX:GCY).
Under the Sale and Purchase Agreement, the consideration comprised cash of $50,000 and shares in E79 Gold to the value of $100,000 (being 925,925 Shares), which was based on the VWAP of E79 Gold shares for the 5 trading days immediately prior to the date of completion.
It’s a big step for E79, expanding the company’s interests a further 25km south so that they now comprise 541km2 and contains a ~90km strike length of the highly prospective Big Bell Shear and associated structures.
And lastly, Zoono (ASX:ZNO) has revealed that it has developed the first of its specialty products for use in the clinical, medical and OTC sectors, in the hunt for a way to attack chronic rhinosinusitis, which is Doctor for “My Heb is Foob ob Concrete And I Hwish I was Dead”.
Test results from the product trials completed at the University of Auckland have exceeded all expectations, and confirmed both a significant reduction in viable staphylococcus aureus biofilms at one hour and eradication at six hours; and a significant reduction in viable pseudomonas aeruginosa biofilms at 5 minutes and near eradication within one 1 hour.
Get comfy, ‘cause it’s a Trading Halts kinda day today.
Lithium Energy (ASX:LEL) – LEL’s asked for a time-out as it prepares to talk to the market about what’s been happening at its Solaroz Lithium Brine Project in Argentina.
AuKing Mining (ASX:AKN) – AuKing has an announcement pending about a project acquisition, which is absolutely not a sequel to A Brief History of Time.
Camplify Holdings (ASX:CHL) – Time for Camplify to CHL as it gets ready to tell the market about a proposed acquisition and equity raising.
Resource Mining Corporation (ASX:RMI) – Capital Raise and possible acquisition of a more interesting name.
Frontier Energy (ASX:FHE) – Capital Raise, because Captain Kirk had three ears… a left ear, a right ear and a final frontier.
Star Entertainment Group (ASX:SGR) – Star’s into a halt ahead of anticipated disciplinary action from the New South Wales Independent Casino Commission.
TZ (ASX:TZL) – TZL has asked for a halt as it needs to release a correction to its FY22 accounts.
Beston Global Food Company (ASX:BFC) – Capital Raise. It’s the latest craze. Everyone’s doin’ a Capital Raise. Gods be praised… it’s a Capital Raaaaaaise.
Duke Exploration (ASX:DEX) – DEX is set to acquire a portfolio of Queensland copper assets. Sadly, that doesn’t include any Highway Patrol cars.
Peppermint Innovation (ASX:PIL) – THe company has an announcement incoming about the signing of an important agreement for the Company in the Philippines.
Felix Gold (ASX:FXG) – Felix has some presumably good news on the way, thanks to material positive drilling results from the company’s Project in Alaska.