In a choppy day of trade, the ASX200 finished the day up 0.30%, where it sat earlier in the day.
The IT and Materials closed firmly in the lead, with Real Estate following in the green. Utilities and telecoms led the fallers.
Economic News
In economic news, ASIC reported that nearly 3,000 construction companies in Australia went bankrupt through the 2024 financial year.
This datapoint comes as housing prices continue to soar across Australia, driven by dismal supply. It is unclear how long it will take for Australia to restore this capacity.
In the Green
Health and wellness company, The Calmer Co. (ASX:CCO), is up 25% after it reported average daily eCommerce sales grew by $2,500 to over $18,500 per day in June, showing a month-on-month growth over the full financial year of FY24.
Sales via eCommerce channels also grew at an average of 17% month on month for FY24.
CCO closed the day at 1 cent.
Sun Silver (ASX:SS1) is up nearly 4% after it confirmed its inaugural drill campaign at its Maverick Springs Project in Nevada, US has been finalised.
The campaign will initially consist of 7,500m of RC drilling and will include a mix of both in-fill and extensional drill targets.
Drilling is set to commence on 8 July 2024.
SS1 closed the day at 53 cents.
Power Minerals (ASX:PNN) gained 19% after announcing the option to acquire the Lítio Project in Brazil.
The project is considered highly prospective for niobium, rare earth elements (REE), and lithium.
PNN closed the day at 15.5 cents.
In the Red
Chalice Mining (ASX:CHN) dropped 17% on the execution of an MOU with Mitsubishi Corporation to develop the closely-watched Gonneville project in WA.
Chalice and Mitsubishi will work towards an ongoing Pre-Feasibility Study process with the intention of forming a strategic partnership.
However, the MOU is non-exclusive and allows Chalice to keep looking for other partners.
CHN closed at $1.26.
Ramelius Resources (ASX:RMS) fell more than half a percent after it executed a Syndicated Facility Agreement (SFA) with the Australia and New Zealand Banking Group, Commonwealth, NAB, CIB, and Westpac.
The agreement will provide Ramelius with a corporate facility of $175M for a four-year term with the option to extend by a further year.
The new facility is an upsized replacement to the previous $100M facility.
RMS closed the day at $1.87.