Rise and Shine: What you need to know before the ASX opens
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Tuesday. Try not to make a dog’s breakfast of it.
But first, here’s what you need to know right now:
Today is all about the Reserve Bank of Australia, which is making a decision on interest rates — will they be kept stable at 1.5 per cent for the 28th consecutive month? Probably. Also coming is the ABS current account balance data, which features a heap of figures on interest, taxes, imports and exports.
Gold: $US1284.96 ($1813.59) -0.45%
Silver: $US15.06 -0.72%
Oil (Brent): $US65.57 +0.61%
Oil (WTI): $US56.32 +1.15%
Coal: $US97.25 +0.78%
Iron ore 62% fe: $US85.98 -1.55%
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On Stockhead‘s Facebook chat forum Maggie Beer’s decision to sell the remainder of her business to Longtable Group (ASX:LON) had member Mark Snow opining: “Lol… waste of money… no wonder the price crashed today”, while a casino closure that could hurt Silver Heritage Group (ASX:SVH) was of concern to member Richard Medway: “I’m very curious as to why they’d shut down a casino… that would be a big hit for the company in question for sure, because there’s a chunk of revenue gone fast.”
These were the most-discussed stocks on trading gossip forum HotCopper at close yesterday:
— HotCopper (@HotCopper) March 4, 2019
Celsius Resources (ASX:CLA) shares fell 70 per cent yesterday when the company announced it would all but halt all evaluation of its Namibian project due to a languishing cobalt price.
Threat Protect (ASX:TPS) shares rose 33 per cent to 24c on news it had secured a $49 million funding package to complete the acquisition of a major Eastern states security alarm monitoring business, and refinance current debt facilities.
It will acquire Onwatch for $35 million.
Petratherm (ASX:PTR) shares were up 25 per cent to 4c after it announced it had secured a prospective ground position close to the operating Fosterville and Costerfield Gold Mines.
“The area contains several historic gold and other mineral prospects in areas of outcrop. Younger cover sediment however masks much of the prospective host rock and these regions have only been very lightly explored,” it said.
And Authorised Investment Fund (ASX:AIY) shares rose 38 per cent on news it had made a $7 million lowball offer for Encounter Resources (ASX:ENR), whose shares also rose, 10 per cent.
As noted above, Celsius shares plummeted.
After closing on Friday at 4.7c, they fell as low as 1.4c, a 70 per cent drop and their lowest point since the company re-listed on the ASX in late 2016.
The company had been working on updating its scoping study for the project — in November last year it published a study on the large, long-life mine, but ASX rules prevented it from reporting production targets or financial metrics.
It had set shareholder expectations for the updated scoping study to arrive by the end of the March quarter, but told investors this morning it would “significantly slow” evaluation work.
That’s all you need to know. Hop to it!