Join our daily newsletter At The Bell to receive exclusive market insights
Mining giant BHP (BHP) lost ground on Friday after revealing iron ore and copper outputs were down for the third quarter.
It’s banking on China’s economic rebound to fuel commodity demand.
BHP shares were down 2.4 per cent on the news to $44.96.
Meanwhile, Equatorial Resources (EQR) shares soared 37 per cent on plans to acquire the Nimba Alliance iron ore project in Guinea in an all-scrip deal with Singaporean company Companhia Rio de Ferrois.
The project has one of the largest landholdings in the Nimamba iron ore corridor, and EQR said the project aligned with its focus on the large-scale exploration and development of iron ore assets.
Shares were trading at 20 cents.
Fellow resources stock Macro Metals (M4M) has found high-grade rock chips during a first trip to its new volcanic massive sulphide project in Western Australia.
Four samples returned up to 33 per cent copper and 948 grams per tonne silver.
An external geophysical contractor has been brought in to carry out surveys in a bid to find extensions to the mineralisation.
Shares were trading flat at 0.5 cents.
PharmAust (PAA) has found its treatment can reduce the size of cancerous tumours in dogs.
While only two of 27 dogs in the phase II trial had tumours shrink by up to 30 per cent and eight remained stable, PharmAust reported it was in confidential discussions with potential licensing partners.
The trial is expected to be completed by mid-year.
Shares have gained nearly 10 per cent today.
And distiller and spirits marketing firm Top Shelf International (TSI) has appointed Trent Fraser as its new CEO.
Mr Fraser has more than two decades of experience in the wine and spirits space, including 13 years in New York as VP of Louis Vuitton Moët Hennessy’s luxury spirits portfolio.
He replaces TSI Managing Director and co-founder Drew Fairchild today.
Top Shelf shares rose 5.3 per cent to 50 cents.
-1200x645-380x200.jpg)
-1200x645-380x200.jpg)