180 Markets: Movers and shakers
Certainly, one of the biggest market thematics is a return of inflation. We are seeing the spike in housing prices, wage growth, and commodity prices - not to mention the trillions of dollars of debt printed these past 12 months! Interest rates have moved up a quick 50 basis points and investors are taking notice. Over the past decade, investors have become so accustomed to lower (and lower) bond yields that any sharp move is greeted with swift market repercussions.
This trend is now flowing through to capital markets with the likes of this year’s potentially largest IPO, Commodity producer 29 Metals. The company is offering between A$525.6mn – A$609.1mn and attracting heavy interest due to its diverse portfolio including the base metal juggernaut, copper. In the precious metal department, gold exploration has become rampant as the commodity price is hovering around U.S.$1,900 per ounce. Companies such as Mt. Monger Resources as well as Pacgold Limited are conducting their smaller IPO and will use proceeds to explore their tenement packages in the Mt. Monger region of Western Australia and the Northern Territory, respectively. Despite their differences in market capitalisations, the common factor of these businesses is a hedge against further inflation.
TODAY'S TRADING HALTS
CASTILLO COPPER (ASX: CCZ) is currently in a trading halt pending an announcement regarding a capital raise. STRAKER TRANSLATIONS (ASX: STG) is currently in a trading halt pending an announcement regarding a capital raise. Straker Translations is conducting a $20M by way of a fully underwritten Placement to institutional and professional investors as well as an accelerated non renounceable entitlement offer. New shares are to be issued at $1.90 per share. Ord Minnett and Bell Potter are joint lead managers to the transaction.
***The above is stocks we have noticed to be rising based on price and volume***
Estrella Resources (ASX: ESR) hit an intraday high of $0.086 this morning, trading in excess of $8M of volume in under the first hour of trade on the back of announcing a thick massive sulphide intersection at its flagship Carr Boyd project. Estrella Resources intersected 6.75m of massive nickel-copper-iron sulphides within a broad zone of sulphide rich mineralization at Carr Boyd. Estrella Resources has also secured full underwriting of its listed options ASX: ESRO which are exercisable at $0.05 on or before 27 June 2021.
Alligator Energy (ASX: AGE) hit an intraday high of $0.04 this morning, trading almost $1M of volume in the first hour of trade. Alligator Energy recently acquired an exploration license with existing uranium mineralisation which is adjacent to its existing flagship Samphire Project. Alligator Energy recently raised $1.6M through a single tranche Placement at $0.007 with a 1:2 attaching AGEOB – 180 Markets was the sole lead manager to the transaction.
Amplia Therapeutics (ASX: ATX) hit an intraday high of $0.35 this morning on the back of announcing new data that their AMP945 improves survival in pancreatic cancer. The new data shows that Amplia’s Focal Adhesion Kinase (FAK) inhibitor AMP945 is able to improve the anticancer activity of combined gemcitabine and Abraxane in an animal model of aggressive pancreatic cancer.
***The above is stocks we have noticed to be falling based on price and volume***
Keypath Education International INC. (ASX: KED) listed today after raising $212M through Macquarie Capital and Shaw and Partners. The IPO was offered at $3.71 but has traded disappointingly, currently down to $3.55 or down by 4.3%. Keypath has experienced strong growth over recent years. Keypath is a leading global education technology provider. The proceeds of the IPO will be supporting the delivery of its growth strategy which includes its growing enrolments, improving retention in current programs and expanding program offerings with its exisiting university partners.
Gas2Grid (ASX: GGX) traded down this morning 33% - $0.002 - on the back of an announcement that its Service Contract 44 (“SC 44”) in the Philipines would be terminated for failing to comply with all the requirements set forth in the extension of the Technical Moratorium. The Company will be seeking a reconsideration of that decision of the Department with assistance of its legal advisers in Manila.
Rumble Resources (ASX: RTR) fell this morning to $0.42 and trading over $8.5M of volume on the back of an announcement of Assay results from the remaining 24 drill holes from the Chinook prospect, confirming the Earaheedy zinc discovery in Western Australia. The new drilling results have allowed the RTR team to formulate an initial interpretation of a new sedimentary exhalative (SEDEX) variant geological model for the Earaheedy project
Surefire Resources (ASX: SRN) fell this morning to $0.02, trading over $1M of volume, after announcing further massive gold intersections at its flagship Yidby Gold Project. Surefire Managing Director Vladimir Nikolaenko commented: “The Company continues to generate very thick intersections of gold mineralisation at Yidby Road, that also includes high-grade intervals. “We have identified multiple mineralised structures across a >200m corridor and the deposit has only been drilled over a 200m strike length open to the north, south and at depth.
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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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