The Australian market was almost flat during the morning consultation until the release of the February CPI data at 11:30 am, which then pushed the market into slightly positive territory.
The s
SPI futures point to a five-point drop.
February’s CPI reading held steady at 3. 4%, unchanged from last month but below consensus expectations of 3. 5%. Markets will now turn their attention to tomorrow’s monthly retail sales figures.
In today’s corporate news, shares of Platinum Asset Management were trading down more than 20% after the asset manager announced that the firm had lost $1. 4 billion in budget allocated to an undisclosed client. APM Human Services has been suspended. The corporation said it had requested a cessation of operations following receiving a letter from private equity corporation CVC Capital Markets, informing it that it could not complete a transaction on terms commensurate with its non-binding offer, as revealed to ASX on February 28.
Best and Worst Performers
The most productive in the raw materials sector, with an increase of 1. 08 percent. The worst performers were in the data technology sector, down 0. 87 percent.
The best-performing large-cap company is Mercury NZ (ASX:MCY), up 2. 27% to $6. 32. It is followed by shares of Brambles (ASX: BXB) and GQG Partners (ASX: GQG).
The worst-performing large-cap company is Incitec Pivot (ASX:IPL), which is trading down 2. 57% at $2,845. It is followed by shares of WiseTech Global (ASX:WTC) and Premier Investments (ASX:PMV).
Commodities and the Dollar
Gold is trading at $2,198. 30 an ounce. Iron ore was down 4. 2% at $104. 20 a tonne. Iron ore futures are pointing to a 2. 5% drop. The Australian dollar is bought at 65. 24 cents.
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Increases across all areas of Deep Leads resources: quality, tonnage and target area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trading company, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are in a position to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but they should, i. e. if Ford and Hanwa inject new capital into LKE, it will further reduce the risk of the financing of the assignment and thus ensure that LKE and Kachi are fully funded.
Two recent severity studies have particularly exceeded expectations and revealed the possibility of expanding the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade-long Tier 1 SOP production facility around Throssell Lake.
TMG is currently completing paints for the planned PFS in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and permitting activities. The effects of these systems will affect the SFP and any long-term resource improvements.
SOP reference prices have risen to around 940 USD/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% accumulated in value effects at a cumulative $144 million in NPV of the $364 million allocation. The increase of approximately 70% during the scoping study implies an allocation NPV of approximately $1. 4 billion.
Despite the drop in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to record an improvement in its key industry indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company founded in 2010 and indexed on the Australian Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. . de WTL in connection with its broker organisation business Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisers in more than two hundred money advice firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive study report on ASX-listed biotech company Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect felt it was imperative to publish a follow-up report that valued the company. as the market did not see the great prospects of Eftilagimod Alpha (EFTI).
The follow-up report published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing it by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.