Australian shares edged higher around lunchtime on Thursday, with the S&P/ASX 200 up 0.27% to 8,720.20 at 12.18 pm AEST. Five of the 11 sectors traded higher despite losses on Wall Street, after the US Federal Reserve raised interest rates by a quarter of a percentage point and signalled another increase later this year. Gold fell as much as 1.3 per cent after Fed chairman Kevin Warsh reiterated concerns about inflation, with policymakers expecting it to remain above target until 2029.
In small cap company news,
Resonance Health signs global clinical trials alliance
Resonance Health (ASX:RHT) has signed a strategic alliance and master services agreement with London-based Image Analysis Group, expanding the global reach of its MRI analysis technology. Resonance’s regulatory-cleared services will become available through IAG’s global clinical trials business, while Resonance will provide Australian clinical trial services to IAG customers. The non-exclusive agreement has an initial 24-month term, with revenue dependent on individual work orders.
AML3D secures US Navy submarine parts order
AML3D (ASX:AL3) has secured an initial production parts order worth around A$500,000 from Austal USA to manufacture three components for US Navy nuclear submarines. The components will be produced using AML3D’s advanced metal 3D printing technology at its facility in Ohio, with delivery, testing and commissioning expected by the end of the third quarter of FY27.
Lion Energy completes Seram asset sale
Lion Energy (ASX:LIO) has completed the sale of its 2.5 per cent interest in the Seram Non-Bula project in Indonesia after receiving final government approval. The sale was valued at approximately US$1.2 million, with the proceeds helping fund Lion’s share of initial drilling at the Bula Karang-1 exploration well, where mobilisation is imminent.
Latrobe Magnesium receives US$15 million funding support
Latrobe Magnesium (ASX:LMG) has received a non-binding letter of support for US$15 million in equity funding towards a feasibility study for its proposed 50,000-tonne-a-year magnesium plant in South Carolina. The funding remains subject to several conditions, including due diligence, approvals, definitive agreements and Latrobe securing an additional US$15 million in financing from a specified US entity.
Marquee receives $549,000 R&D tax refund
Marquee Resources (ASX:MQR) has received a $549,122 cash refund under the Australian Government’s Research and Development Tax Incentive for the 2024-25 financial year. The company says the non-dilutive funding strengthens its cash position, with drilling at its Yindi Lithium and Gold Project in Western Australia due to begin this week.
