Australian shares fell on Thursday, with the S&P/ASX 200 down 0.9 per cent to 8,689 at 12.10pm AEST. The decline followed losses on Wall Street, where the S&P 500 fell 0.8 per cent and the Nasdaq dropped 1.1 per cent as the US 10-year bond yield jumped to 5.11 per cent.
Oil climbed back above US$100 a barrel amid uncertainty over reopening the Strait of Hormuz, lifting the ASX energy sector 1 per cent. Woodside, Santos and Ampol gained, while materials fell 1.9 per cent, with BHP down 2 per cent, Rio Tinto 1 per cent and Fortescue 0.8 per cent.
In small cap company news:
Peako completes gold portfolio acquisition completed ahead of maiden drilling
Peako (ASX:PKO) has completed the acquisition of six gold exploration projects covering 862 square kilometres in Saudi Arabia’s Central Arabian Gold Region. Recent exploration has identified new high-grade targets, including rock chip results of up to 22.9 grams per tonne gold at Matar and 41.5 grams per tonne at Wadi Jarir. Peako has secured a drill rig, with maiden drilling across key targets scheduled to begin in October.
Gold Mountain reports rare earth mineralisation extended across Brazil project
Gold Mountain (ASX:GMN) has reported further rare earth mineralisation at its Ayrton Senna prospect within the Down Under Project in Brazil. Results from 89 auger holes included 27 holes grading between 1,000 and 4,607 parts per million total rare earth oxides, with mineralisation now identified at least 13 kilometres west of the existing Irajuba Exploration Target. Further drilling and metallurgical test work are planned.
White Cliff Minerals reports drilling extends copper mineralisation at Danvers
White Cliff Minerals (ASX:WCN) has reported further drilling results from its Rae Copper Project, with copper mineralisation now confirmed across more than 11.5 kilometres of combined strike at Danvers. At Danvers 1, drilling returned 16.1 metres at 1.2 per cent copper from 193 metres, while drilling at Danvers 3 intersected near-surface copper sulphides, with assays from further drilling expected within four to six weeks.
Stakk announces $55.2 million revenue forecast fully secured
Stakk (ASX:SKK) says its $55.2 million FY27 pro-forma revenue forecast is now fully supported by recurring revenue under existing customer contracts. The technology company has also signed additional contracts across Thailand, Italy, Dubai, Ireland and Scotland, which are expected to contribute mainly from FY28, while its new Singapore operations are scheduled to begin in November.
Nordic Resources reports metallurgical testing delivers strong gold and copper recoveries
Nordic Resources (ASX:NNL) has reported gold recoveries of up to 90 per cent and copper recoveries of up to 91 per cent from metallurgical testing at its Kopsa gold-copper project in Finland. The results will feed into an updated mineral resource estimate due in the coming month, while a new 12,000-metre drilling program has commenced at the project.
To hear more from ASX listed companies Clever Culture Systems, Unity Metals, Cambium Bio, Latrobe Magnesium and Immutep, join us for the Uncovering Hidden Gems webinar on 30th Sept at 12:30pm AEST.
Post Views: 1
