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The ASX200 had a strong day closing up 0.93%.
All sectors closed in the green with top performer Real Estate jumping 1.5%, followed closely by IT and Healthcare.
In this bulletin, we’ll discuss Renascor, Telix Pharmaceuticals, Orthocell, De Grey Mining, WA1 Resources, and Burgundy Diamond Mines.
In the Green
Renascor (ASX:RNU) has been granted a $5M injection from federal coffers to half fund a $10M battery anode material (BAM) project in South Australia.
The grant will help build Renascor’s spherical graphite processing plant.
RNU finished the day up five and a half percent at 9.3 cents.
Telix Pharmaceuticals (ASX:TLX) gained 10.5% after the US government extended rebates for its prostate cancer imaging drug.
The news eased concerns the company could be adversely affected by changes to Medicare in the US.
TLX closed at $19.39.
And, Orthocell (ASX:OCC) added more than 8% after its dental guided bone regeneration product was approved for use in Canada. This complements prior approvals in the US, Europe, Australia and also New Zealand where the company has recorded record revenue in FY24.
The company has $20 million in cash to support its growth strategy.
OCC closed at 40 cents.
In the Red
De Grey Mining (ASX:DEG) slipped nearly a 0.86% on releasing a Scoping Study ondeveloping deposits to the east and west of the Hemi Gold Project in Western Australia’s Pilbara region.
The initial assessment looked at using cashflows from Hemi to explore in a bid to expand De Grey’s mineral resource
The study was based on projected free cashflow of about are $400 million over the initial evaluation period.
DEG closed the day at $1.16.
WA1 Resources (ASX:WA1) slid 9.4%, in line with a $60 million capital raise priced at $17 a share.
The Institutional Placement funds will support drilling, metallurgical test work, permitting, and development at the West Arunta niobium project in Western Australia.
WA1 closed down toward that raise price, $17.07
Lastly, Burgundy Diamond Mines (ASX:BDM) was the third biggest faller today, with its stock down 7.7% as the market continued to react to plans to extend the lifecycle of its Misery underground mine in Canada beyond next year
Each year the Misery mine has produced about 3 million carats valued at some A$350 million (US$235 million).
BDM closed the day at 18 cents.
