ASX Market Close: Market closes day down, spooked by RBA Minutes release | 2 July 2024

The ASX closed the day down a quarter of a percent.

The market was spooked by the RBA Minutes released this morning, where the central bank confirmed it considered raising interest rates.

While this had been widely expected, it rattled the market – but not enough to hold back the energy sector, which was up 2.08%.

In the Green

Clean energy storage company, Redflow (ASX:RFX) gained 11.7% after signing an MOU with Queensland’s largest energy generator, Stanwell Corporation.

The collaboration focuses on developing and deploying Redflow’s X10 battery for a 400 megawatt large-scale project, potentially serving as an anchor order for Redflow’s planned manufacturing facility in Queensland.

RFX closed the day at 10.5 cents.

Ark Mines (ASX:AHK) shot up 26.7% after reporting an Exploration Target at its 100% owned Sandy Mitchell rare earth and heavy mineral project in North Queensland.

Most of the target lies north of the project’s Indicated Mineral Resources, estimated to be 21.7 million tonnes at 1420 parts per million of Monazite Equivalent (MzEq).

AHK closed the day at 19 cents.

AML3D (ASX:AL3) is up 4.2% on the $1.1 million sale of its 2600 Edition ARCEMY system to Laser Welding Solutions (LWS).

LWS has been operating the system under a lease agreement since September 2023 for a Nickel Aluminium Bronze alloy program for the US Navy.

The system is the company’s smallest industrial-scale metal 3D printing system.

AL3 closed the day at 10 cents.

In the Red

Deep Yellow (ASX:DYL) fell 2% following the appointment of Nedbank as the Mandated Lead Arranger to coordinate project financing for its flagship Tumas Project in Namibia.

The move aims to launch the project during a time of historically stable uranium prices.

DYL closed the day at $1.30.

Software licensing company, RPMGlobal Holdings (ASX:RUL), fell 13% following the release of its updated software sales and expected FY2024 results.

Despite positive results, the company reported lower-than-forecasted profitability, leading to a negative investor response.

RUL closed the day at $2.41.

Summit Minerals (ASX:SUM) dropped 17.5% after releasing ongoing exploration fieldwork, which discovered and mapped multiple Pegmatites across the Equador Niobium and Tantalum project in northeastern Brazil.

Assays included Partial Rare Earth Oxides (PREO) from surface pegmatite rock chip samples.

SUM closed the day at 28.5 cents.