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The ASX is expected to open lower on Wednesday, following the trend set by Wall Street as investors continue their nervy behaviour towards the ongoing banking situation.
However, some stocks may yet surprise the market. Here are some ASX-listed companies to look out for during Wednesday’s trade:
Jervois Global (JRV) has suspended final construction and full concentrator commissioning at the Idaho Cobalt Operations (ICO) mine in the United States amid continuing low cobalt prices and inflationary impacts on construction costs.
The company said work would recommence once cobalt prices rose again, which it expected over the medium term due to the energy transition, as well as the company’s expectation that buyers would prefer to buy from sources with Western ESG credentials, such as its ICO.
ICO’s mineral resource and reserve is the largest and highest-grade cobalt orebody in the nation and, when commissioned, will represent the country’s only primary cobalt mine supply.
Shares in JRV last traded at 12 cents.
Nitro Software (NTO) has announced that Co-Founder and CEO Sam Chandler and Chief Financial Officer Ana Sirbu have stepped down from their roles at the company, effective immediately.
Managing Director of Potentia Capital Tim Reed will take over as Interim CEO while the NTO board carries out a search to appoint a new Chief Executive and Chief Financial Officer.
Nitro urged that the departure of Mr Chandler and Ms Sirbu would have no impact on the Potentia takeover offer.
Shares in NTO last traded at $2.20.
Karoon Energy (KAR) has announced that its second production well drilled into the Patola oilfield, the PAT-1 well, has been brought onstream as of March 27, 2023, at an initial rate of more than 12,000 barrels of oil per day (bopd).
It brings the current total production rate from the BM-S-40 license in Brazil to more than 40,000 bopd.
The company said as part of its natural decline, it expected production rates to drop in the coming weeks.
Shares in KAR last traded at $2.10.
Red Dirt Metals (RDT) has achieved a “key” project milestone at its Mt Ida lithium project in Western Australia, submitting a mining proposal and mine closure plan to the Western
Australian Department of Mines, Industry Regulation and Safety (DMIRS).
The submission relates to a lithium direct shipping ore (DSO) mining operation that RDT is hoping to commence towards the end of 2023 while continuing works on Mt Ida to develop into a lithium concentrate producer.
“This is an amazing achievement by the Red Dirt team,” RDT Executive Chairman David Flanagan said.
“Meeting the ambitious timeframes for such an important milestone demonstrates their skill and dedication to the task. It’s remarkable for the company to be in such a position within six months of releasing its maiden resource estimate.”
Shares in RDT last traded at 33 cents.
Anagenics (AN1) has also announced an appointment on Wednesday, confirming Scott Greasley as its new CEO and Managing Director, effective from April 1, 2023.
Mr Greasley has more than 15 years of success building and integrating market-leading profitable global consumer businesses and was most recently Head of Greater China and Emerging Markets for Boardriders Group.
Also, the company announced that acting CEO Matthew Dudek has been appointed Chief Financial & Governance Officer.
Shares in AN1 last traded at 2.6 cents.
