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The ASX is expected to open higher on Tuesday after the mood surrounding the ongoing banking turmoil eased overnight and bank stocks rose.
A significant player in this was North Carolina-based First Citizens, which entered an agreement to buy Silicon Valley Bank.
As for the local stock market, here are some ASX-listed companies to look out for today:
Centrex (CXM) has announced its subsidiary, Agriflex, entered a binding offtake agreement with New Zealand-based Ballance Agri-Nutrients for the supply of phosphate rock from the CXM Ardmore project in northwest Queensland.
The agreement will last for 2.75 years, with Ballance agreeing to purchase around 30,000 tonnes of phosphate in the first year, before reaching mutual agreements for allocations in the years thereafter.
CXM Managing Director Robert Mencel said it was a “stepping stone” towards the cementing of a long-term relationship with Ballance and supplying Centrex’s product to the “lucrative” New Zealand agricultural market.
Shares in CXM last traded at 16 cents.
Cygnus Metals (CY5) has announced the acquisition of two “highly prospective” projects in the prolific James Bay region in Quebec, Canada.
The new acquisitions, the Sakami and Auclair projects, will establish the company as “one of the major lithium explorers” in the region.
CY5 said the projects will bring its total ground coverage to 756 square kilometres across four projects.
Shares in CY5 last traded at 18 cents.
Biotech company Noxopharm (NOX) has announced the development of a new ‘vaccine enhancer’ product candidate based on mRNA technology as part of its Sofra preclinical platform.
The technology aims to make mRNA vaccines safer by reducing inflammation associated with the vaccines. It also has the ability to support more cost-effective mRNA vaccine manufacturing.
The company said its SOF-VAC product was the smallest molecule of its type to have shown strong activity against inflammation and was developed in collaboration with the Hudson Insitute of Medical Research.
Shares in NOX last traded at 10 cents.
Reliance Worldwide (RWC) has launched two new products in the Americas, while also announcing changes in its manufacturing operations in Australia and the US.
SharkBite Max, RWC’s next generation of industry-leading push-to-connect fitting, provides plumbers with stronger, faster, and better connections.
The PEX-a pipe is also being launched, and RWC said with the addition of it to a growing product portfolio, the company would provide plumbers with the broadest range of pipe and fitting systems.
The company said that as a result of moving all assembly of SharkBite Max fittings to the US, RWC’s Australian manufacturing operations were being adjusted to support demand in the APAC region.
Shares in RWC last traded at $3.43.
Chalice Mining (CHN) has reported an updated resource for the Gonneville deposit at its Julimar nickel-copper-platinum group element (PGE) project in Western Australia.
The update increased the resource by roughly 50 per cent to around three million tonnes of nickel equivalent.
Chalice said that over the last three years, more than 1000 drill holes for around 275,000 metres had been completed to define the deposit.
The company said the “significant” resource growth and upgrade in confidence provided a strong open-pit development option for the world-class project.
Shares in CHN last traded at $6.28.
