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They don’t sing songs about Tuesdays. But there’s plenty to crow about today.
Coming up on Stockhead today, how China is squeezing the dairy formula boomers two ways, why the world is now running on a 10-day supply of copper, and Botanix’s Matt Callahan says synthetics are the future of cannabis drugs. But first, here’s what you need to know right now:
The week ahead in data
This morning, the Reserve Bank of Australia will release its notes from its most recent meeting (February 6) to decide the interest rate. It should be riveting stuff, as for the 27th consecutive month, it remained at unchanged at 1.5 per cent. Carson Scott will certainly be excited — sadly, he no longer works at Sky News, where his extreme over-the-top reactions to RBA interest rate decisions were a monthly highlight.
Also on this week is the RIU Explorers Conference — running Tuesday through Thursday at the Esplanade Hotel in Fremantle. This year’s bash includes a record number of presenting companies, exhibitors and delegates, and it’s not too late toregister your attendance at this link.
There are a stack of companies due to come out of trading halts tomorrow. Uniti Wireless (ASX:UWL), which made its debut on the ASX last week, traded for less than two days before its first trading halt, but it is due out tomorrow with an announcement regarding a change in management. It hasn’t even been listed a week!
Sinetech (ASX:STC) has info on a potential acquisition, both BlackEarth Minerals (ASX:BEM) and Australis Oil & Gas (ASX:ATS) have raised capital, and Leigh Creek Energy (ASX:LCK) will talk about “positive development” at its demonstration plant.
Gold: $US1325.75 +5.14%
Silver: $US15.78 +0.02%
Oil (Brent): $US66.23 -0.05%
Oil (WTI): $US56.01 +0.41%
Coal: $US93.10 +1.85%
Iron ore 62% fe: $US88.56 +0.21%
AUD/USD: 0.7131 at 7am -0.14%
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What got you talking yesterday
Batteries for the home were of interest in the Stockhead ASX Small and Micro Cap Chat Facebook group.
Group member Steve Roswell shared a link to news Shell is taking on Tesla with batteries for home.
There is no shortage of companies on the ASX dabbling in battery metals. One of them, Rectifier Technologies (ASX:RFT) reckons its tech allows your car to charge your house or the local grid.
Join the conversation here.
Over on popular stock trading gossip forum HotCopper, these were the five most discussed stocks at close on Monday:
It was no surprise that Bingo Industries (ASX:BIN) was among them; its value nearly halved today following a profit downgrade.
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Bionomics, one of a number of biotechs decimated by negative clinical trial results last year, says its apparently failed PTSD drug might work after all.
Shares in Bionomics (ASX:BNO) flew 75 per cent at the open to an intraday high of 21c, their highest point since early October.
The drug BNC210 was supposed to improve the quality of life for patients with post-traumatic stress disorder, but in October the company said the trial failed to show clear beneficial effects on improving PTSD symptoms – sending the stock down 68 per cent in a single day.
Trail-blazing lithium chemical company Lepidico (ASX:LPD) was up almost 16 per cent after announcing exclusive rights over a new tech to make lithium hydroxide – which attracts a premium price from battery makers.
It was a good day for Q Technology Group (ASX:QTG), the smallest company on the ASX, which rose 80 per cent to 0.9c on no news. Its market cap rose over the seven-figure mark for the first time since November.
As mentioned, waste management company Bingo Industries (ASX:BIN) became a midcap yesterday after a bad earnings outlook halved its share price.
The company said full year earnings before interest, tax, depreciation and amortisation (EBITDA) was set to drop as much as 18 per cent, to $92 million.
It stock fell even more, dropping as much as 49 per cent to an all-time low of $1.17.
That’s all you need to know. Hop to it!