BHP Group
(ASX:BHP) CEO Mike Henry cautions against excessive government intervention in global critical minerals supply chains, emphasising the importance of international cooperation and competition to effectively accelerate the energy transition and combat climate change.
At noon, the S&P/ASX 200 is 0.59 per cent higher at 7,120.70.
The SPI futures are pointing to a rise of 40 points.
Best and worst performersThe best-performing sector is REITs, up 1.97 per cent. The worst-performing sector is Communication Services, down 0.47 per cent.
The best-performing large cap is Liontown Resources
(ASX:LTR), trading 3.48 per cent higher at $2.97. It is followed by shares in Sonic Healthcare
(ASX:SHL) and Whitehaven Coal
(ASX:WHC).
The worst-performing large cap is Medibank Private
(ASX:MPL), trading 3.35 per cent lower at $3.46. It is followed by shares in TPG Telecom
(ASX:TPG) and Aristocrat Leisure
(ASX:ALL).
Asian marketsAsia-Pacific markets are mixed after Wall Street saw a tech sell-off Monday, with Tesla tumbling 6% after Goldman Sachs downgraded the electric car maker, citing pricing headwinds.
Other tech names like Nvidia, Alphabet and Meta Platforms also lost more than 3% each.
In Japan, the Nikkei 225 extended its losses after three straight days of declines, falling 0.25%, with the Topix seeing a smaller loss of 0.06%.
South Korea’s Kospi and Kosdaq also was in the red, dropping 0.46% and 0.53% respectively in early trade.
Hong Kong’s Hang Seng index look set to snap its five day losing streak, with futures at 18,894 compared to the HSI’s close of 18,794.13.
Company newsINOVIQ
(ASX:IIQ) has announced excellent results from an independent clinical validation study of the company’s SubB2M/CA15-3 test for breast cancer detection. CEO Dr Leearne Hinch said: “Our blood test detected all-stages of breast cancer with 81% sensitivity and 93% specificity, outperforming a leading CA15-3 test.” Shares are trading 28 per cent higher at 64 cents.
Forrestania Resources
(ASX:FRS) has announced multiple stacked pegmatites intersected in 13 of 14 holes at the company’s Calypso Prospect, up to 63m thick. In response, MD Michael Anderson commented: “Calypso is only ~4.5km from a known mineralised pegmatite, so any occurrence of pegmatite within this area is significant to Forrestania.” Shares are trading 163 per cent higher at 20 cents.
Lincoln Minerals
(ASX:LML) has intersected broad zones of shallow, high-grade graphite mineralisation at the company’s Koppio Graphite Resource in South Australia. LML Chair and Acting CEO, Cath Norman said, “Our forward plan includes upgrading our inventory of Mineral Resources at Koppio and additional drilling in late 2023.” Shares are trading 33 per cent higher at 2 cents.
Tamboran Resources
(ASX:TBN) has received commitments for the institutional placement component of its ~$71.4 million capital raise to accelerate development of the Beetaloo. MD and CEO, Joel Riddle, said: “[This] brings the Company one step closer to commercialisation of our acreage in the Beetaloo Basin and funds several key milestones that are expected to unlock this vast, low reservoir CO2 gas resource.” Shares are trading 4.9 per cent lower at 19.5 cents.
Commodities and the dollarGold is trading at US$1782.70 an ounce.
Iron ore is 2.4 per cent lower at US$ 109.45 a tonne.
Iron ore futures are pointing to a 2.65 per cent rise.
One Australian dollar is buying 67.15 US cents.
