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Good morning.
Today on Stockhead, we launch our new section, Private-i, dedicated to private fundraising. We’ll kick it off with a primer on how unlisted companies raise funds, the top platforms in Australia right now, and a brief history of equity crowdfunding in Australia.
Check it out. Then:
NAB is dropping its February Business Conditions & Confidence survey today. In January, business conditions “saw a moderate rebound” after falling sharply in December — here’s hoping that continues.
The ABS will release investment lending data for January, and we’ll get the highly anticipated Australian manpower survey:
Never. Gets. Old.
Gold: $US1295.86 ($1,833.46) -0.35%
Silver: $US15.32 +0.07%
Oil (Brent): $US66.76 +1.41%
Oil (WTI): $US56.75 +1.37%
Coal: $US93.02 -2.70%
Iron ore 62% fe: $US85.15 -1.86%
AUD/USD: $US0.7068
Four companies are due out of trading halts today – Invocare (ASX:IVC) (capital raising), Finders Resources (ASX:FND) (response to Takeovers Panel decision), Otto Energy (ASX:OEL) (drilling results), and Focus Minerals (ASX:FML) (status update).
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Chinese-owned Ansteel wants to buy Gindalbie Metals (ASX:GBG) – with subsidiary Coda Minerals to stay with Gindalbie shareholders.
Coda will end up with the Mt Gunson copper and cobalt project in South Australia and $10.64m in cash.
This piece of news sent the Gindalbie share price up 117 per cent to 2.6c.
If both transactions go ahead, Gindalbie shareholders will get 2.6c cash for each of their shares — a 90 per cent premium to its 30-day volume weighted average price – as well as a pro-rata distribution of Coda shares.
Key Petroleum (ASX:KEY) shares went crazy after the minnow struck a major gas processing deal with heavyweights Santos (ASX:STO) and Beach Energy (ASX:BPT).
Shares shot up 50 per cent on Monday to an intra-day peak of 0.9c, before finishing the day at 0.8c.
While the deal is only at the MoU stage right now, it paves the way for negotiations to potentially strike a formal processing and transportation agreement.
This would see gas from Key’s Tanbar project in Queensland’s Cooper Basin processed at Santos and Beach Energy facilities in South Australia.
Chilean explorer Emu NL (ASX:EMU) compared its Vidalita project with Goldfield’s (NYSE:GFI) nearby 3.5 million ounce Salares Norte deposit after some early exploration success.
It’s a good comparison to make.
Early studies show Salares Norte could produce 345,000 equivalent ounces of gold each year at all-in sustaining costs of $US575 ($817) per ounce over an initial 10 years.
Emu’s latest round of drilling includes what the explorer calls Vidalita’s ‘discovery hole’ – 24 metres at 5 grams per tonne gold and 28 grams per tonne silver, 20m from surface.
The news sent Emu’s share price up 93 per cent for the day.
| ASX code | Company name | Price | Percentage change | Market cap | Volume |
|---|---|---|---|---|---|
| GBG | Gindalbie Metals | 0.026 | 117% | $39,000,000 | 23.3M |
| VRM | Verdant Minerals | 0.031 | 107% | $33,100,000 | 54.3M |
| KLH | Kalia | 0.004 | 100% | $8,800,000 | 2.7M |
| EMU | Emu NL | 0.09 | 93% | $11,200,000 | 1.3M |
| AHZ | Admedus | 0.05 | 45% | $27,700,000 | 24.2M |
| KEY | Key Petroleum | 0.008 | 33% | $11,300,000 | 37.4M |
| HNR | Hannans | 0.013 | 30% | $25,800,000 | 10.1M |
| 9SP | 9 Spokes International | 0.05 | 29% | $21,800,000 | 41.2M |
| YBR | Yellow Brick Road Holdings | 0.08 | 28% | $22,200,000 | 74.5k |
| OLI | Oliver's Real Food | 0.03 | 26% | $7,000,000 | 7.1M |
| EVS | EnviroSuite | 0.17 | 26% | $61,000,000 | 6.5M |
| GTE | Great Western Exploration | 0.005 | 25% | $4,800,000 | 1.2M |
| LRS | Latin Resources | 0.003 | 25% | $8,100,000 | 2.2M |
| TTA | TTA Holdings | 0.02 | 25% | $2,700,000 | 12.7k |
| NVX | Novonix | 0.59 | 23% | $72,700,000 | 188.5k |
| PDI | Predictive Discovery | 0.011 | 23% | $2,600,000 | 524.1k |
| NKP | Nkwe Platinum | 0.1 | 21% | $86,900,000 | 6.8M |
| AYR | Alloy Resources | 0.003 | 20% | $4,700,000 | 1.6M |
| CRO | Cirralto | 0.012 | 20% | $6,000,000 | 22.7M |
| LNY | Laneway Resources | 0.006 | 20% | $22,100,000 | 586.3k |
| MGT | Magnetite Mines | 0.006 | 20% | $4,400,000 | 2.8M |
| SPQ | Superior Resources | 0.006 | 20% | $4,100,000 | 1.6M |
Galan (ASX:GLN) was down 20 percent to 50c after, strangely enough, releasing some pretty solid exploration results.
Still, there can’t be too many complaints; the lithium explorer has been a golden goose for investors, up 266 per cent over the past year from lows of 9.1c.
| ASX code | Company name | Price | Percentage change | Market cap | Volume |
|---|---|---|---|---|---|
| THD | Thred | 0.002 | -33% | $4,100,000 | 447.5k |
| MNC | Metminco | 0.002 | -33% | $2,400,000 | 11.7M |
| LCY | Legacy Iron Ore | 0.002 | -33% | $2,900,000 | 26.6k |
| EMP | Emperor Energy | 0.002 | -33% | $1,900,000 | 2.0M |
| DTR | Dateline Resources | 0.002 | -33% | $8,800,000 | 10.0k |
| COY | Coppermoly | 0.005 | -29% | $8,600,000 | 506.3k |
| T3D | 333D | 0.002 | -25% | $1,300,000 | 12.5k |
| RNY | RNY Property Trust | 0.006 | -25% | $2,100,000 | 250.0k |
| PRL | Petrel Energy | 0.003 | -25% | $7,200,000 | 679.0k |
| PNN | PepinNini Lithium | 0.003 | -25% | $2,500,000 | 3.8M |
| OVL | Oro Verde | 0.003 | -25% | $4,700,000 | 96.0k |
| RES | Resource Generation | 0.05 | -23% | $29,100,000 | 1.2M |
| LSA | Lachlan Star | 0.007 | -22% | $5,300,000 | 2.3M |
| TNT | Tesserent | 0.06 | -20% | $8,600,000 | 420.4k |
| MTC | MetalsTech | 0.02 | -20% | $2,800,000 | 128.3k |
| MRQ | MRG Metals | 0.004 | -20% | $2,700,000 | 305.0k |
| AUL | Austar Gold | 0.004 | -20% | $13,600,000 | 600.0k |
| GLN | Galan Lithium | 0.5 | -20% | $54,000,000 | 4.4M |
| PGY | Pilot Energy | 0.013 | -19% | $1,300,000 | 12.7k |
| RCP | Redbank Copper | 0.029 | -17% | $3,400,000 | 55.9k |
| THD | Thred | 0.002 | -33% | $4,100,000 | 447.5k |
| MNC | Metminco | 0.002 | -33% | $2,400,000 | 11.7M |
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