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It’s been a negative start to the day, with almost all sectors in the red.
Energy has fared the worst so far following a 5 per cent plunge in oil prices overnight.
Meanwhile, gold miners are doing their best to taper the losses across the materials sector following a rise in the price of gold.
Ramelius Resources (RMS) has seen its shares jump nearly 5 per cent after taking control of Breaker Resources (BRB).
Ramelius now holds a 50.1 per cent interest in Breaker, though the takeover process is not over yet.
With RMS now owning a majority of Breaker shares, BRB has encouraged all remaining Breaker shareholders to accept the takeover offer before the closing date on Monday, May 15.
If all goes to plan, the merged entity will look to combine the Lake Roe gold project with the Lake Rebecca gold project to establish a third gold production hub in Western Australia.
Ramelius Resources was last trading at $1.34, while Breaker shares rose 6.74 per cent to 47.5 cents.
Voltaic Strategic Resources (VSR) has begun a maiden drilling program at the Andrada prospect within its Ti Tree lithium project in WA’s Gascoyne region.
The company will complete a reverse circulation program across seven areas of geochemical anomalism where multiple pegmatites were mapped at surface.
Company shares were trading at 2.4 cents.
Future Battery Minerals (FBM) has climbed more than 4 per cent in early trade. The company, alongside joint venture partner Lodestar Minerals, reported multiple thick, high-grade hits at the Kangaroo Hills lithium project in Western Australia.
Results from the drilling included up to 1.32 per cent lithium oxide, with assay results still pending for a further 23 holes.
FBM last traded at 12 cents, while Lodestar fell 9 per cent to 0.5 cents.
To healthcare, Universal Biosensors (UBI) has announced the global launch of its PETRACKR blood glucose monitoring product for dogs and cats with diabetes.
The company has signed three distribution deals in the US and Canada for the products, receiving initial purchase orders of around $280,000.
UBI expects first-year sales from the three deals to exceed more than $2 million. Shares in UBI were up 10.42 per cent to 26.5 cents.
And finally, health and wellness company The Calmer Co (CCO) has joined forces with RooLife Group (RLG) for an eCommerce partnership.
The news comes after RooLife placed its first order from The Calmer Co, valued at just under $150,000.
CCO shares were trading at 4 cents, while RLG was trading at 0.9 cents.
