Australian shares traded near flat at midday, with the S&P/ASX 200 up just 0.06 per cent to 9,011.7 at 12.10pm AEST. Five of the 11 sectors were higher, with gains in energy offset by weakness in technology stocks. The subdued session followed a Wall Street sell-off on Friday after stronger-than-expected US employment data increased expectations of a Federal Reserve rate rise. Locally, investors remained cautious as rising oil prices and the Iran war added to concerns around inflation and the global economic outlook.
In small cap company news,
Clever Culture Systems expands Novo Nordisk relationship
Clever Culture Systems
(ASX:CC5) has received an order from Novo Nordisk for two additional APAS Independence instruments, increasing its installed base with the pharmaceutical company to three. The order also includes development of an interface with Novo Nordisk’s global laboratory management system, supporting potential wider deployment of the technology across its manufacturing network. The two new instruments will be installed at a site in Denmark for formal global validation.
Thrive Tribe begins defence technology rollout
Thrive Tribe Technologies
(ASX:1TT) has commenced work under a three-year exclusive distribution agreement with Canadian defence supplier Effective Acceleration Ventures. The agreement covers the marketing and distribution of Thrive Tribe’s WooBoard and REFFIND workforce platforms to military and defence organisations across NATO member states. EAV must generate at least US$5 million in turnover by the end of the first year and US$15 million by the end of the second year to retain exclusivity.
Australasian Metals secures option over lithium projects
Australasian Metals
(ASX:A8G) has entered into a binding option agreement to acquire majority interests in the Atex and Alliance lithium projects in West Africa. The company has an exclusive three-month option to acquire up to 75 per cent of Atex, where historical drilling includes 67.97 metres at 1.23 per cent lithium oxide and 20.77 metres at 1.65 per cent. The proposed transaction includes a $100,000 option fee and $1.4 million purchase consideration, supported by existing cash and a $1 million placement.
Aureka moves towards Victorian gold production
Aureka
(ASX:AKA) has entered into a binding agreement to acquire High Grade Holdings, including the operating Fiddlers Creek gold and silver mine and the Wedderburn gold processing mill in Victoria. The $8.9 million base acquisition comprises $2.5 million in cash and $6.4 million in Aureka shares, with up to a further $2 million linked to future milestones. Aureka has also secured commitments for a $5.65 million placement to support the transaction, which would see the company become a Victorian gold producer upon completion.
Corazon consolidates Chalice tenure and identifies new gold targets
Corazon Mining
(ASX:CZN) has advanced its acquisition of additional gold rights surrounding the Chalice Gold Project in Western Australia after Mineral Resources elected not to exercise its rights of first refusal. Historical drilling across the acquired ground includes results of 15 metres at 16.19 grams per tonne gold and 2 metres at 41.31 grams per tonne, with multiple targets identified across a 40-kilometre greenstone belt. Corazon plans to incorporate the new ground into its broader exploration strategy, alongside Phase 1 resource growth drilling at Chalice expected to begin in the coming weeks.
To hear from four ASX-listed companies across silver, gold,critical minerals and sovereign AI, join our investor webinar, UncoveringHidden Gems on September 9th at 12:30 pm AEST.
