Tesltra slumps, iron ore miners gain
\nBHP faces a deadline today to decide on its bid for Anglo America
\nWebjet reveals plans to split its travel divisions, boosting its share price today<\/p>\n
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The ASX 200 closed flattish on Wednesday, as big losses in the Telco sector led by Telstra (ASX:TLS)<\/a><\/strong> were offset by gains in Real Estate, Mining and Financial stocks.<\/p>\n \u00a0<\/p>\n Source: MarketIndex<\/p>\n \u00a0<\/p>\n Telstra dropped -3.5% after confirming that it will slash up to 2,800 jobs, 10% of its workforce, in a big shake-up.\u00a0<\/span>This move comes after a review of its enterprise division.<\/p>\n Telstra has however reiterated its FY24 guidance, and provided FY25 underlying EBITDA guidance of between $8.4 to $8.7 billion.\u00a0<\/span><\/p>\n In other large cap news, BHP (ASX:BHP)<\/a><\/strong> has until 5 pm today to decide whether to upgrade its $64.4 billion bid for Anglo American or walk away from talks. This is a hard deadline imposed by the\u00a0 <\/span>UK Takeover Panel. BHP\u2019s shares were up +0.65%.<\/p>\n Other iron ore miners Fortescue (ASX:FMG)<\/a><\/strong> and Rio Tinto (ASX:RIO)<\/a><\/strong> also lifted today as iron ore futures extended a run of small gains, trading now at the highest level in three months.<\/p>\n Webjet (ASX:WEB)<\/a><\/strong> meanwhile rose over +7% after revealing plans to split up its top travel divisions, WebBeds and Webjet B2C.\u00a0 <\/span>If the company goes through with it, it will have two separate companies listed on the ASX.<\/p>\n And poultry business Inghams Group (ASX:ING)<\/a><\/strong> tumbled by -6% after\u00a0<\/span>acknowledging media reports about bird flu being detected at a table egg farm in Victoria\u2019s Meridith area.\u00a0<\/span><\/p>\n Inghams said it doesn\u2019t have any broiler farms there, so its operations and supply chain are unaffected for now. The company is maintaining its usual market supply without any disruptions, it said.<\/p>\n \u00a0<\/p>\n For the seventh time in a row, New Zealand\u2019s central bank has decided to keep the cash rate steady at 5.5%, but says it sees rate cuts in the second half of next year.<\/p>\n Across Asia,\u00a0<\/span>stock markets were having a bit of trouble finding direction today, with not much happening locally.<\/p>\n The S&P 500 and Nasdaq hit another record high last night, and now traders are waiting to see how chipmaker Nvidia Corp\u2019s results will play out later today.\u00a0Analysts expect Nvidia to report around 240% of revenue growth for Q3 to US$24.6bn.\u00a0<\/span><\/p>\n Japan\u2019s shares dipped as the country reported a trade deficit.<\/p>\n China meanwhile is said to be mulling over hefty tariffs \u2013 some 25% \u2013 on imported European cars with big engines.\u00a0<\/span><\/p>\n The news comes as tensions between China, the US, and the EU are heating up, and could seriously strain Beijing\u2019s ties with Brussels.<\/p>\n \u00a0<\/p>\n Today\u2019s best performing small cap stocks:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/p>\n Code Name Price % Change Volume Market Cap CHR Charger Metals 0.125 76% 6,386,111 $5,496,838 GCR Golden Cross 0.003 50% 1,313,016 $2,194,512 ME1 Melodiol Glb Health 0.003 50% 1,513,657 $1,426,974 AML Aeon Metals Ltd. 0.010 43% 4,924,615 $7,674,804 PIL Peppermint Inv Ltd 0.011 38% 9,945,336 $16,970,867 MTH Mithril Resources 0.270 35% 8,523,563 $16,915,244 ERL Empire Resources 0.004 33% 100,000 $4,451,740 NPM Newpeak Metals 0.027 29% 2,415,313 $2,595,986 CAZ Cazaly Resources 0.023 28% 5,474,680 $8,183,454 LTP Ltr Pharma Limited 0.495 27% 861,131 $27,458,140 AGC AGC Ltd 0.490 26% 6,209,712 $86,666,667 KNB Koonenberrygold 0.021 24% 4,068,346 $4,892,387 M2M Mtmalcolmminesnl 0.021 24% 131,006 $2,974,586 KRM Kingsrose Mining Ltd 0.058 23% 23,687,420 $35,368,746 GIB Gibb River Diamonds 0.045 22% 4,965,167 $7,825,849 G50 G50Corp Ltd 0.180 20% 139,899 $16,393,500 RIE Riedel Resources Ltd 0.003 20% 10,017 $5,559,589 RML Resolution Minerals 0.003 20% 40,000 $4,025,055 APL Associate Global 0.125 19% 30,000 $5,931,705 ADO Anteotech Ltd 0.026 18% 18,200,997 $54,214,322 FIN FIN Resources Ltd 0.013 18% 2,598,630 $7,141,956 NMR Native Mineral Res 0.034 17% 761,759 $6,085,665 MDR Medadvisor Limited 0.375 17% 3,030,237 $176,105,052 IR1 Irismetals 0.380 17% 599,990 $42,098,869 AHK Ark Mines Limited 0.140 17% 40,000 $6,653,570 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Charger Metals (ASX:CHR)<\/a>, was up on news that the company has defined new lithium and niobium soil anomalies at the Lake Johnston project in WA, which the company is running as a JV with mining giant Rio Tinto (ASX:RIO).<\/a> An infill soil-sampling program revealed further delineated surface lithium anomalies at the prospect, and these have been discovered defined near historic drill-holes that have previously logged pegmatite intersections with \u201celevated lithium values\u201d. Meanwhile, the newly discovered niobium target is big \u2013 1.8km by 1.7km.<\/p>\n Gibb River Diamonds (ASX:GIB)<\/a> was also up, moving more than +50% on Tuesday\u2019s news that the company has secured mining leases M04\/475, M04\/476 and M04\/477 which are the three key licences at the heart of developing the Ellendale Diamond Project, 140km east of Derby in the West Kimberley region of Western Australia.<\/p>\n Silver explorer Mithril Resources (ASX:MTH)<\/a> was reinstated to the market after hours last night, following a lengthy absence from trading as the company worked towards meeting ASX requirements required to lift a trading suspension.Mithril recently held an AGM to ratify its recent financing efforts, which raised ~A$5m, and a share consolidation, and hit the market floor running on Wednesday to jump as high as +50% in brisk trade.<\/p>\n Aeon Metals (ASX:AML)<\/a> rose on some land access news that certainly will encourage it, and its shareholders.\u00a0The traditional owners of the Walford Creek region, the Waanyi PBC and Waanyi People have agreed terms for a new Cultural Heritage Protection Agreement (CHPA).\u00a0And what that allows for is Aeon to recommence activities at Walford Creek, with pen being put to paper on relevant documents and signed by the necessary people, imminent.\u00a0Business is business \u2013 this comes after a year of negotiations, the results of which will now enable Aeon to drill into the Fish River Fault and its surrounds and carry out \u201congoing project development\u201d<\/p>\n The Canadian-focused lithium hunter, Fin Resources (ASX:FIN)<\/a>,\u00a0<\/span> jumped after some fresh drilling news.Specifically, eight diamond drill holes have now been successfully completed at its White Bear prospect within the broader Cancet West project in James Bay, Quebec.\u00a0They\u2019re holes. Tick. And they\u2019ve been successfully drilled. Double tick. But more than this, we know, too, that the drilling intersected the White Bear pegmatite, which has been confirmed as spodumene bearing, based on geological observations and LIBS data. Five holes have interesected visual megacrystic spodumene up to 15cm in length.<\/p>\n NewPeak Metals (ASX:NPM)<\/a> noted it\u2019s scheduled an \u201cextraordinary\u201d general meeting for June 28.\u00a0(Extra)ordinary matter no. 1 on the meeting\u2019s itinerary? \u201cThe ratification of prior issue of 13,666,667 shares to Gerhard Redelinghuys and Tania Redelinghuys as trustee for Redelinghuys Super Fund, at an issue price of $0.015 pursuant to the Placement\u2026\u201d For further context, about this time last month, NewPeak\u00a0completed a $300,000 share placement at 1.5c\/sh to Gerhard Redelinghuys, who is the founder of former small cap success story Bowen Coking Coal (ASX:BCB)<\/a>.<\/p>\n LTR Pharma (ASX:LTP)<\/a><\/strong> was well up over +20% on no specific news.\u00a0<\/span><\/p>\n And\u2026 MedAdvisor (ASX:MDR)<\/a> jumped after providing guidance for the full year ending this June. Based on the strong start to Q4 FY24 and anticipated activity levels over the remainder of this quarter, the company expects to deliver positive revenue, EBITDA and NPAT for the full year. Revenue is set to come in between $120m-$123m, an all time record (versus $98m in the pcp) EBITDA is set to come in between $6.8m -$7.6m (versus loss of -$3m in the pcp) NPAT is set to come in between $0.5m -$0.8m, first ever profit for the firm, (versus loss of -$11.3m in the pcp).<\/p>\n \u00a0<\/p>\n Today\u2019s best performing small cap stocks:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort<\/em><\/p>\n Code Name Price % Change Volume Market Cap MRD Mount Ridley Mines 0.001 -50% 21,249,995 $15,569,766 PKO Peako Limited 0.003 -40% 102,000 $2,635,424 SHP South Harz Potash 0.012 -37% 9,258,294 $15,716,514 CGR Cgnresourceslimited 0.205 -34% 4,512,719 $28,141,239 AYM Australia United Min 0.002 -33% 308,654 $5,527,732 CNJ Conico Ltd 0.001 -33% 265,255 $2,707,643 IEC Intra Energy Corp 0.002 -33% 7,784,021 $5,072,345 INP Incentiapay Ltd 0.004 -33% 5,194 $7,463,580 BFC Beston Global Ltd 0.003 -25% 150,250 $7,988,188 CTN Catalina Resources 0.003 -25% 270,456 $4,953,948 SNS Sensen Networks Ltd 0.020 -20% 168,305 $19,393,359 EXL Elixinol Wellness 0.004 -20% 246,356 $6,505,370 H2G Greenhy2 Limited 0.008 -20% 951,852 $5,141,842 HLX Helix Resources 0.004 -20% 40,733,228 $15,487,635 MHC Manhattan Corp Ltd 0.002 -20% 2,339,982 $7,342,449 MTL Mantle Minerals Ltd 0.002 -20% 2,330,000 $15,493,615 DGR DGR Global Ltd 0.013 -19% 219,293 $16,699,096 HAL Halo Technologies 0.073 -18% 15,500 $11,448,639 NC6 Nanollose Limited 0.024 -17% 66,126 $4,988,185 EOF Ecofibre Limited 0.058 -17% 16,007 $26,521,173 AKG Academies Aus Grp 0.150 -17% 25,000 $23,870,604 1MC Morella Corporation 0.003 -17% 2,121,712 $18,536,398 AYT Austin Metals Ltd 0.005 -17% 15,000 $7,945,148 BUY Bounty Oil & Gas NL 0.005 -17% 112,543 $8,991,006 PRX Prodigy Gold NL 0.003 -17% 27,776 $6,041,322 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Exploration at Legacy Minerals\u2019 (ASX:LGM)<\/a> Black Range gold project in NSW\u2019s premier Lachlan Ford Belt has intercepted veins indicative of a low-sulphidation epithermal style mineral system across a 2.2km gold trend<\/a> at the Sugarbag Hill prospect.\u00a0The intercept is part of a 1000m diamond drilling campaign at Sugarbag Hill, a prospect that hasn\u2019t been drilled by anyone since Newmont back in 1992.<\/p>\n Assays from definition drilling at Toubani Resources\u2019 (ASX:TRE)<\/a> has returned significant oxide gold hits<\/a> such as 57m at 2.48g\/t gold that further de-risk its flagship 2.4Moz Kobada project towards \u201cshovel-ready\u201d status.\u00a0The company is also progressing an updated definitive feasibility study that will optimise Kobada\u2019s processing flowsheet and plant design, with the goal to boost the project\u2019s gold output.<\/p>\n Classic Minerals (ASX:CLZ<\/a>) has been granted a 21-year mining lease for its Lady Ada and Lady Magdalene gold projects<\/a> at Forrestania, WA, taking it another step closer towards development.\u00a0The Lady Ada and Lady Magdalene deposits have a combined known resource of 7.27Mt grading 1.33g\/t for 311,050oz of contained gold, with testing proving that the non-refractory ore is highly amendable to gravity recovery with free milling gold.<\/p>\n Gold miner Kaiser Reefs (ASX:KAU)<\/a> has received a strategic investment commitment worth $5m from Ragnar Metals (ASX:RAG)<\/a> to develop the Nova gold project<\/a>, which will double production from its A1 mine in Victoria up to 24,000ozpa.\u00a0Assay results from drilling last year extended high-grade gold mineralisation exceeding below the 23 level \u2013 well beyond levels historical miners could reach, with grades from drilling returning >50g\/t.<\/p>\n Koba Resources (ASX:KOB)<\/a> has staked the strike extensions to its Harrier uranium project<\/a> in Newfoundland and Labrador, securing a 100% interest in an additional 358km2 of adjacent mining claims.\u00a0The yellowcake-focused explorer\u2019s Harrier now covers 489km2 within a heavily under-explored world-class uranium district that hosts numerous deposits, including Paladin Energy\u2019s (ASX:PDN)<\/a> 127.7mlbs of U3O8 Michelin project.<\/p>\n Up to 4.3g\/t shallow gold has been identified from the first five holes<\/a> at Brightstar Resources\u2019 (ASX:BTR)<\/a> Link Zone at the Menzies gold project in WA. Results are part of a >30,000m drilling program targeting resource upgrades and extensions in conjunction with feasibility work streams across the company\u2019s 1.45Moz gold portfolio across the Menzies and Laverton project areas.<\/p>\n Diamond drilling has wrapped up at Fin Resources\u2019 (ASX:FIN)<\/a> White Bear prospect at the Cancet West project in Quebec, Canada, where a 12.1m-thick spodumene-bearing pegmatite<\/a> has been intersected. Eight diamond drill holes for 1,009m have been completed at White Bear, with core samples dispatched to Val d\u2019Orfor cutting and submission to ActLabs for analysis.<\/p>\n Felix Gold (ASX:FXG)<\/a> is set to unlock value in its dominant position in the Fairbanks gold mining district after exceeding its target and raising $2.556m via placement.\u00a0Strong support was received from both existing shareholders and new investors, including MDF Global Limited (MDF) and the directors of Felix Gold (subject to shareholder approval at an upcoming EGM).Funds raised will be used to complete the imminent maiden resource at NW Array, as well as progress ongoing exploration and resource expansion drilling at both the Grant Mine and NW Array Projects.<\/p>\n Sovereign Metals (ASX:SVM)<\/a>, backed by mining major\u00a0Rio Tinto (ASX:RIO)<\/a>\u00a0(which has a 15% stake in the developer), aims to develop a low-CO2 and sustainable operation at its Kasiya project in Malawi to supply highly sought-after natural rutile and graphite to global markets.\u00a0 Pilot phase mining and land rehabilitation programs have been initiated to determine optimal excavation and backfill land rehabilitation approaches.\u00a0 Regular evaluation of the rehabilitation activities will assess the progress of vegetation growth and soil stabilisation and once rehabilitated, the proposed project site will be returned to farmland.<\/p>\n The prospectivity of Haranga Resources\u2019 (ASX:HAR)<\/a>\u00a0<\/strong>Saraya uranium project has received a shot in the arm after test work confirmed that uranium could be leached at rates consistent with other projects. The company has been going all out exploring the project and the results have validated its efforts. Auger drilling<\/a>\u00a0to follow-up on\u00a0termite mound sampling<\/a>\u00a0has thus far proved that the sampling material evacuated by termite digging deep into the earth to build their nests is a cost effective method of identifying uranium anomalies.<\/p>\n Frontier Energy (ASX:FHE)<\/a> continues to progress its debt financing process for the Waroona project with key appointments and contracts for procurement of capital items well advanced.\u00a0The process is moving swiftly through Phase Two with the recent appointment of Aurecon as the independent technical engineer and the appointment of legal counsel for the lenders.\u00a0FHE remains on track to receive binding credit approved terms from the preferred banking syndicate during July.<\/p>\n Blue Star Helium (ASX:BNL)<\/a> has successfully drilled, cased and cemented the intermediate hole section of the State 16 SWSE 3054 development well at its Galactica helium project in Las Animas County, Colorado.The intermediate hole section of the well was drilled to ~338.32m and a mandatory cement bond log (CBL) is expected to run shortly.\u00a0Upon successful testing at State 16 SWSE 3054, the well be ready to be tied-in to production facilities.<\/p>\n Australian Mines (ASX:AUZ)<\/a> has discovered multiple tin, tantalum, and lithium anomalies at the Resende lithium project in Minas Gerais, Brazil.\u00a0The highest assay results returned tin, tantalum, and lithium at 1180, 56, 38ppm and 769, 65, 51ppm, comparing favourably to regional results which returned less than the lower detection limits of 5, 10, 10ppm. AUZ now plans to embark on a comprehensive grid soil sampling program to identify potential future drilling targets.<\/p>\n \u00a0<\/p>\n Auking Mining (ASX:AKN)<\/a> \u2013 pending an announcement regarding a capital raising.<\/p>\n Top Shelf International Holdings (ASX:TSI)<\/a> \u2013 pending an announcement regarding a capital raising.<\/p>\n Stellar Resources (ASX:SRZ)<\/a> \u2013 pending an announcement regarding a capital raising.<\/p>\n Paterson Resources (ASX:PSL)<\/a> \u2013 pending an announcement in relation to a binding Share Sale Agreement.<\/p>\n Murray Cod Australia (ASX:MCA)<\/a> \u2013 pending an announcement regarding a placement and an accelerated non-renounceable entitlement offer.<\/p>\n NT Minerals (ASX:NTM)<\/a> \u2013 pending an announcement regarding entry into a right to mine agreement.<\/p>\n AIC Mines (ASX:A1M)<\/a> \u2013 pending the launch of an institutional placement.<\/p>\n AUB Group (ASX:AUB)<\/a>\u00a0 \u2013 pending a proposed capital raising comprising an institutional placement.<\/p>\n \u00a0<\/p>\n At Stockhead, we tell it like it is. While Frontier Energy, Blue Star Helium, Australian Mines, \u00a0Legacy Minerals, Toubani Resources, Kaiser Reef, Koba Resources, Brightstar Resources, Fin Resources, Felix Gold, Sovereign Metals and Haranga Resources are Stockhead advertisers, they did not sponsor this article.<\/p>\n <\/span><\/p>\n The post Closing Bell: Webjet to split, BHP\u2019s deadline dilemma, and Charger Metals up 70pc on lithium find<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"What else happened today<\/h2>\n
ASX SMALL CAP LEADERS<\/h2>\n
ASX SMALL CAP LAGGARDS<\/h2>\n
IN CASE YOU MISSED IT<\/h2>\n
\u00a0TRADING HALTS<\/h2>\n