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:

The day ahead in data

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.

 

Commodities

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

 

Company news

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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Yesterday’s winners

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.

via GIPHY

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

Yesterday’s losers

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