Rise and Shine: What you need to know before the ASX opens
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But first, here’s what you need to know right now:
Very little in the way of fascinating data today: just a speech by Guy Debelle, assistant governor of financial markets at the Reserve Bank of Australia, as well as building and construction data from the Australia Bureau of Statistics.
Pioneer Resources (ASX:PIO) has 17.5 million shares being released from escrow today.
And the following nine companies are due out of a trading halt in the next 48 hours:
Gold: $US1,303.47 ($1,829.16) +0.50%
Silver: $US15.18 -0.39%
Oil (Brent): $US70.67 -0.59%
Oil (WTI): $US64.09 -0.28%
Coal: $US83.13 +2.88%
Iron ore 62% fe: $US93.63 +1.07%
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Not surprising to see a lot of discussion on the Stockhead Facebook chat forum about electric vehicles following would-be (and likely forthcoming) Australian Prime Minister Bill Shorten’s pledge half of new Australian vehicles would be EVs by 2030.
Here’s member Todd Thurkettle:
“There’s a company in the U.S. called Rivian that made an electric Ute that is taking over the Tesla electric market. They are planning to bring them here too. Definitely the future of commercial fleet vehicles and possibly even privately owned.”
And Mel Culley:
“Somehow the infrastructure to support EVs is lacking and will continue to fall behind, lithium batteries don’t have the staying power for long distance travel (yet) but how to recharge on long distances will be the test.”
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Tuesday:
— HotCopper (@HotCopper) April 9, 2019
Spectur (ASX:SP3) closed the day up 44 per cent at 14c thanks to its best-ever quarterly result.
Revenue in the 2019 financial year to date stands at $3.4 million, up 96 per cent on this time last year. Camera rentals, sales, active cameras in the field and recurring revenue from the software that comes with the products all rose year-on-year.
New World Cobalt (ASX:NWC) had the best day in small cap land, rising 75 per cent to 2.1c on news it acquired an advanced high-grade copper-gold-zinc volcanogenic massive sulfide (VMS) project in the US.
“This unique opportunity arose from our strong technical presence in the USA – and it’s a fantastic, low‐cost, opportunity for our shareholders. High‐grade VMS deposits are very hard to come by globally, but when you find a good one they can generate extraordinary value over a long period of time,” MD Michael Haynes said.
It doesn’t take much for Avenira (ASX:AEV) investors to get excited: shares shot up 36 per cent to 1.9c after dropping an update on a US-based company that Avenira holds just a 7 per cent interest in.
That company, JDCPhosphate, will change its name to Novaphos as it attempts to commercialise its super phosphoric acid production technology.
Orminex (ASX:ONX) shares fell 21 per cent to 11.5c this morning after revealing that its strategic partner had lost a contract. GBF Mining had secured a 12-month lease with an attached option to buy 50 per cent of the Burbank’s Mill from Maximus Resources (ASX:MXR).
But Orminex told the market today GBF received a termination notice from Maximus. “Orminex advises that the matter will not cause any short-term impact on mining at Comet Vale and the company will provide an update of mining activities in due course,” it said.
That’s all you need to know. Go go go!