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The ASX performed as futures implied today, down a little by 0.2 of a per cent. Bucking the trend was the Financials sector, gaining more than a per cent.
Indiana Resources (IDA) closed up 75 per cent to 7.2 cents today after nearly $160 million (AUD) in compensation was awarded in a dispute against the United Republic of Tanzania.
Claimants – members of a joint venture in which Indiana has a 62.4 per cent share – sought compensation for the unlawful expropriation of nickel project Ntaka Hill in 2018.The award was declared by the International Centre for Settlement of Investment Disputes which is part of the World Bank.
Meanwhile, Telco and IT company Hubify (HFY) closed up nearly 58 per cent after laying out its unaudited annual results. It reported record revenue of $25.7 million and underlying EBITDA of $4.4 million, with cash holdings exceeding $5.6 million. Hubify last traded at 3 cents.
Investment service provider, Income Asset Management Group (IAM) also traded strongly today, up 25% to 12.5 cents.
Rewards and loyalty program provider, My Rewards International (MRI) shed almost 24%, closing the day at 1.6 cents.
Australasian Metals (A8G) was down 11 per cent to 16 cents one day after news it was selling its Fairview Gold Project in Western Australia to Marquee Resources. Australasian keeps focus on its lithium exploration activities in the Northern Territory, as well as the gold, bauxite and titanium projects in Queensland. It’s an all-scrip deal – Australasian will receive 6.5 million Marquee Resources’ shares.
And Syrah Resources (SYR) lost 16 per cent after delivering its quarterly activities report. Share trade closed just below 75 cents.
