Last Orders: ASX closes nearly half a percent upwards with almost all sectors in the green

The ASX had a positive trading day finishing nearly 0.5 per cent up with almost all sectors in positive territory.

The ASX 200 closed at 7,303 – 0.44 per cent higher than yesterday while the ASX Emerging Companies Index rose over 1 per cent to 2,185.

Energy was the sole sector in negative territory while tech and property trusts were the biggest winners with both gaining over 2 per cent.

The top stock today was Classic Minerals (ASX:CLZ), which is one step closer towards becoming a gold producer after WA’s Department of Mines, Industry Regulation and Safety (DMIRS) approved its request to mine a bulk sample.

ANNOUNCEMENTS YOU MAY’VE MISSED

PointsBet (ASX:PBH) has entered another US state. The East Coast state of Maryland legalised sports betting just last month and PointsBet is partnership with the Riverboat Group in that state.

Kangaroo Island Plantation Timbers (ASX:KPT) received another takeover bid from KI Phoenix and has once again rejected it. The company claims the $27.5 million is undervaluing its land assets which is believes are worth $59.23 million.

Valor Resources (ASX:VAL) expanded its landholding around its existing mining concessions in Peru. The company has also submitted applications for an additional 14 mining concessions and an option agreement was executed for another two.

Azure Minerals (ASX:AZS) completed a strategic review into its Mexican precious and base metals projects and has told shareholders that it intends to sell them. The company has hired PCF Capital Group to look for potential buyers.

HR tech company Hiremii (ASX:HMI) gave a trading update in which it reported revenues of $5.8 million for the ten months ended 30 April 2021 – a 12.3 per cent increase. The company also claims to have nearly halved its average net operating burn rate and was enhancing Machine Learning and AI capability in its technology.

Forbidden Foods (ASX:FFF) has signed a distribution agreement to enter Vietnam with its organic baby food products. The company revealed it partnered with AusCom, which has helped A2 Milk (ASX:A2M) in the past and claims the Vietnamese baby foods market is worth US$3.7 billion per annum.

K2 Energy (ASX:KTE) shares rallied after revealing it will move from the ASX (ASX:ASX) over to the NSX (ASX:NSX). The company was set to be delisted next month with the ASX claiming it had inadequate operations to warrant being listed.

Emerging base and precious metal miner, Boab Metals (ASX:BML), will become the new naming sponsor for the Ord Valley Muster in 2022 and 2023, taking over the baton from heavyweights Rio Tinto and the Argyle Diamond Mine. With Boab Metals’ Sorby Hills project located 50 kilometres north-east of Kununurra the company are committed to playing their role in the growth and prosperity of the region, Managing Director Simon Noon said.