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Futures suggest the ASX will open higher on Thursday following mixed results on Wall Street overnight, spurred by the US Federal Reserve’s decision to pause further rate hikes.
However, Federal Reserve Chair Jerome Powell suggested further hikes would be necessary to bring inflation down.
“Inflation has not really moved down. It has not reacted much to our existing rate hikes. We’re going to have to keep at it,” he said.
Back in Australia, here are some ASX-listed companies to watch out for today:
Tyranna Resources (TYX) has entered an offtake agreement with Sinomine for 50 per cent of the spodumene and 50 per cent of the pollucite from its Namibe lithium project in Angola.
The company reported Sinomine would make an advance payment of US$10 million (A$15 million) as per the agreement.
As announced on May 3, Sinomine will also invest around $31 million to provide funding for the exploration and development at Namibe. Tyranna reported that an accelerated drilling program has been planned, with two Sinomine drill rigs ready to be mobilised to the site.
Shares in TYX last traded at two cents.
In the healthcare space, Biome Australia (BIO) announced it surpassed its $7 million FY23 sales revenue target.
The company reported it was driven by its Activated Probiotics, passing the target with half of a month to spare.
“Reaching our $7 million target is a great achievement building on $4.12 million in FY22 and $2.23 [million] in FY21. With our deep understanding of our products and distribution channels, we look forward to strong growth in FY24,” BIO Managing Director Blair Norfolk said.
Shares in BIO last traded at 6.8 cents.
Alvo Minerals (ALV) has kicked off maiden drilling at its Bluebush rare earth element project in central Brazil.
The company reported auger drilling would focus on testing the depth and lateral extension of existing mineralisation, as well as sampling of saprolite to identify ionic clay mineralisation.
The drilling program is expected to commence at its northern prospects, Fazendinha and Ferradura, where REE mineralisation has previously been intercepted from surface to end of hole.
Shares in ALV last traded at 32 cents.
Meanwhile, Catalyst Metals (CYL) has announced a maiden mineral resource for its Four Eagles gold project in Victoria.
The company reported its mineral resource of 665,000 tonnes at 7.7 grams per tonne (g/t) for 163,000 ounces of gold.
It includes the company’s “exceptional” high-grade Iris zone that contains 70,000 ounces at 26.2 g/t.
Shares in CYL last traded at 82.5 cents.
SRG Global (SRG) has secured a specialist facades contract with Lendlease worth an estimated $40 million.
The company announced the contract was for the design and supply of specialist-engineered curtain wall facades at the One Circular Quay project in Sydney.
The contract is expected to begin immediately and be completed in 2025.
Shares in SRG last traded at 68.5 cents.
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