Australian shares traded slightly lower at midday, with the S&P/ASX 200 down 11 points to 9,013.5 at 12.15pm AEST. Early gains faded despite a strong Wall Street session, with miners and energy stocks among the main drags.
BHP and Rio Tinto traded lower, while Ampol and Viva Energy fell as they traded ex-dividend. Gold miners bucked the weakness, while the major banks were mixed after giving up earlier gains.
In small cap company news:
Core Energy raises $3 million to advance Namibia uranium project
Core Energy Minerals (ASX:CR3) has received firm commitments to raise $3.025 million through a two-tranche placement at 0.6 cents per share. The funds will support drilling at the Barking Gecko prospect within its Nova Uranium Project in Namibia, work towards a maiden JORC resource and general working capital. Substantial shareholder Jose Luis Manzano has committed $1 million to the raising, taking his holding to 19.7 per cent.
Turnstone raises $1.1 million for critical minerals strategy
Turnstone Resources (ASX:TSR) has received firm commitments to raise $1.1 million through a two-tranche placement at 2 cents per share. The funds will be used to assess new critical minerals opportunities, advance exploration across its Swedish copper-gold portfolio and review strategic options for its German potash assets. Exploration work will include refining drill targets at Glava and Torsby West, with potential maiden drilling subject to results.
Podium Minerals completes $4 million share purchase plan
Podium Minerals completes $4 million share purchase plan Podium Minerals (ASX:POD) has completed its underwritten share purchase plan, raising the full $4 million before costs. Shareholders applied for around $1.56 million of new shares, with the remaining $2.44 million shortfall taken up by sub-underwriters. Funds will primarily support metallurgical testing, site works at Parks Reef and Range Well, project studies and general working capital.
Neometals reports strong gold results at Ironclad
Neometals (ASX:NMT) has reported new high-grade gold results from its Ironclad deposit at the Barrambie Gold Project in Western Australia. Results included 12 metres at 5.99 grams per tonne gold from 116 metres, including 4 metres at 10.13 grams per tonne, and 11 metres at 5.50 grams per tonne from 94 metres, including 3 metres at 15.10 grams per tonne. Further diamond drilling is planned for September to test extensions of the higher-grade mineralisation.
Anson secures major incentive for Green River lithium project
Anson Resources (ASX:ASN) has received approval from the Utah Inland Port Authority for a business incentive capped at approximately $194 million to support its Green River Lithium Project in Utah. The incentive is structured as a property tax rebate over up to 25 years once the project is operating, with an alternative structure potentially available to help finance public infrastructure. Anson is assessing the impact of the incentive as part of its Green River Definitive Feasibility Study.
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