180 Markets: Movers and Shakers

Greg Lowe

180 Markets


Bluglass Limited (ASX: BLG) has halted this morning after providing an update on one of its products, announcing executive changes and a rights issue. BluGlass announced that it continues to progress the development of its first direct-to-market commercial laser diode products. Early samples confirmed that the product meets commercial specification. However, reliability testing uncovered some flaws, requiring additional production efforts. Managing Director and CEO, Giles Bourne announced his resignation effectively immediately. BluGlass also announced intentions to undertake a non-renounceable rights issue to raise $8 million. With an objective to align shareholders and assist with cash, non-executive directors are set to sacrifice their salary for equity. 

Coda Minerals Ltd (ASX: COD) and Torrens Mining Limited (ASX: TRN) have both halted pending the release of an exploration update from the Emmie Bluff Deeps IOCG Project. The project is currently funded under a farm-in and joint venture agreement between the two companies. Torrens currents owns 30%, with the remaining 70% held by Coda Minerals Limited. 

Zeus Resources Limited (ASX: ZEU) is currently in a trading halt to allow the planning and execution of a capital raise.

Superloop Limited (ASX: SLC) is currently in a trading halt pending the release of an announcement in relation to a material acquisition and a capital raising.

PYC Therapeutics Limited (ASX: PYC) has halted pending results from the company’s assessment of the effectiveness of its second investigational drug candidate.


Altium Limited (ASX: ALU) reached a high of $38.26 this morning after rejecting a proposal from Autodesk, Inc. (NASDAQ: ADSK) for the acquisition of 100% of Altium shares at $38.50 per share to be implemented by way of a scheme of arrangement (Proposal). The Altium Board considered the Proposal to significantly undervalue Altium’s prospects and therefore rejected the Proposal at the current price.

Globe Metals & Mining Limited (ASX: GBE) traded up this morning to an intraday high of $0.12 per share ($1.5M in trade volume) on the back on news that it has received formal notification from the Principal Secretary of Mining that the Malawi Government’s Mineral Resources Committee has reviewed Globe’s mining licence application for the Kanyika Niobium Project (AML0026) and recommended the grant of a Mining Licence. Approval by the Malawi Government’s Mineral Resources Committee (MRC) is a critical and formal step in the process of granting a Mining Licence under the new Mines and Minerals Act, 2018 (Mines Act) which became effective on 1 September 2019

Estrella Resources Limited (ASX: ESR) is trading up at around $0.07 this morning ($1.1M of trade volume) on the back of news of its continued drilling success at Carr Boyd. Estrella has continued to intersected several significant bands of massive nickel-copper-iron sulphides breccias within a 28m(1) zone of nickel-copper-iron mineralisation in its Phase 3 diamond drilling program at the Company’s 100% owned Carr Boyd Nickel-Copper Project, located ~80km north of the City of Kalgoorlie-Boulder.

Sayona Mining Limited (ASX: SYA) is trading up this morning at $0.068 per share ($4.94m of trade volume) on the back of news that it is embarking on the next phase of its Pilbara gold exploration.Work includes drill testing of discrete magnetic anomalies at Mt Dove and Deep Well projects, which display characteristics of hi‐Mg diorite intrusions host to gold mineralisation.


New Age Exploration Limited (ASX: NAE) has traded down this morning, reaching intraday lows of $0.013 (trade value of $0.8M) on the back of news it has completed the maiden Pilbara drill programme with 37 holes for ~1159m on the high priority targets within its northern package of Pilbara Gold projects. The package includes E47/5064, E47/5065 and E47/3958, in the highly prospective Central Pilbara Gold district, Western Australia. All holes were drilled to refusal and beyond where capable and assays were taken to ascertain the relevant geology.

Desert Metals Limited (ASX: DM1)
has traded down this morning reaching intraday lows of $0.715 per share (trade value of $0.4M) on the back of an exploration update. Drilling is currently paused due to a change in drill contractor and also due to heavy rain preventing access to site for the past week. Drilling is expected to commence at Irrida Hill next week as soon as the roads re-open.

Important Notice This report has been prepared and issued (in Australia) by 180 Markets Pty Ltd ACN 638 381 129 is an authorised representative (AR No. 001280199 of Pursuit Capital Pty Ltd ACN 136 717 283 (AFSL. 339211). The report remains the property of 180 Markets Pty Ltd. No material contained in this report may be reproduced or distributed, except as allowed by the Copyright Act, without the prior written approval of 180 Markets Pty Ltd. This report is subject to the disclosures and restrictions set out below. No Advice Notice The content of this report is not a recommendation to any particular individual and has been prepared without taking account of the objectives, needs, financial and taxation situation of any particular individual. The content of this report should never in any way be considered financial advice of either a general or specific nature. For this reason, you should, before acting on the content, consider the appropriateness of it having regard to your objectives, needs, financial and taxation situation and if necessary, seek appropriate independent financial and taxation advice. If the content relates to a particular financial product, you should obtain a Product Disclosure Statement (PDS) or prospectus relating to the product and consider it before making any decision about the product. 180 Markets Pty Ltd does not guarantee the performance of any particular stock mentioned in this report. The One Eighty Report is supposed to be of an informative nature. The One Eighty Report endeavours to highlight stocks which have been trading on high volumes, stocks which have risen or fallen significantly as well as other related market activity which 180 Markets Pty Ltd and its associates believe may be of interest to the readers of this report. Past performance is not a reliable indicator of future performance. 180 Markets Pty Ltd, and its related bodies corporate, do not accept any liability for any loss or damage arising out of the use of all or any part of this report and do not warrant that any projections or forecasts, which are subject to assumptions and uncertainties, will be met. General Disclosure & Conflict of Interest 180 Markets Pty Ltd and its associates (as defined in Chapter 1 of the Corporations Act 2001), officers, directors, employees and agents, from time to time, may own or have positions in securities of the company(ies) in this report and may trade in the securities mentioned either as principal or agent or may be materially interested in such securities. This may include providing equity capital market services to company(ies) in this report, holding a position in the securities or acting as principal or agent. 180 Markets Pty Ltd and its associates therefore may benefit from any increase in the price of those securities. The Author of this Report, 180 Markets Pty Ltd declares that it may receive compensation from companies mentioned in this report and 180 Markets Pty Ltd does and seeks to do business with companies mentioned in the report. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Electronic Communication Disclaimer The information contained in this email is confidential and is intended solely for the addressee. If you are not the named addressee, you must not disclose or use in any way the information in the email. If you have received this email by mistake, please notify the sender immediately by reply e-mail and delete this email and destroy any printed copy. 180 Markets Pty Ltd ACN 638 381 129 is an authorised representative (AR No. 001280199 of Pursuit Capital Pty Ltd ACN 136 717 283 (AFSL. 339211) believes that the information contained in this message and its attachments have been obtained from reliable sources (asx.com.au) and that any estimates, opinions, conclusions or recommendations are reasonably held at the time of compilation. No warranty is made as to the accuracy of the information in this message and, to the maximum extent permitted by law, 180 Markets Pty Ltd disclaims all liability for any loss or damage which may be suffered by any recipient through relying on anything contained or omitted from this.

Greg Lowe
Greg Lowe
CEO and Co-Founder
180 Markets

Greg is Co-founder of 180 Markets which gives access to Australia's hottest IPOs and Placements. Previously Greg has spent over 20 years as a professional hedge fund investor, including with P Schoenfeld Asset Management and Credit Suisse, in...

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