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The ASX200 has been creeping higher today and is up 0.4% in lunchtime trade.
The market has digested the RBA’s rate decision and governor Michelle Bullock’s presser saying a cut is unlikely in the next six months.
The Energy sector has bounced back today and has been up nearly 2%, followed closely by Utilities, Real Estate and Telecommunication – all up around 0.5%.
In this bulletin we are discussing Arrow Minerals, Arcadium Lithium and Highcom.
Company News
West African bauxite miner Arrow Minerals (ASX:AMD) has spiked 50% today, as investors react with excitement to the company’s Exploration Target Estimate for the Niagara Bauxite Project.
The project was last drilled by Vale in 2007, and since then there has been a doubling in global demand and an increase in the bauxite price. A game changer has been the construction of a multi-user railway set to be launched in late 2025.
Arrow Minerals has been trading at $0.003.
Arcadium Lithium (ASX:LTM) has been trading up more than 6% after announcing better than expected earnings, and plans to reduce capex by half a billion US dollars over the next 2 years.
Earnings were in line with consensus at US$99.1 million dollars, and the company achieved a 25% lift in yearly lithium oxide and carbonate sales. Arcadium expects a 25% increase in year over year volumes in 2025, due to the already completed expansions.
Arcadium Lithium has been trading at $4.27.
International defence industry company Highcom (ASX:HCL) has been trading up around 25% on release of its FY24 guidance update, and the results were in line with previous guidance.
Cash held was up from $1.6 million to $6.2 million for the year, and the company continues to engage closely with both domestic and global customers.
Highcom has been trading at 21 cents.
