Join our daily newsletter At The Bell to receive exclusive market insights
The ASX is expected to fall today following a mixed session on Wall Street overnight.
While CPI data showed US annual inflation dropped to 4.9 per cent, it still remains above the US Federal Government’s target.
Nonetheless, here are some ASX-listed companies to watch over the course of today’s trade:
Hamelin Gold (HMG) has commenced reverse circulation (RC) drilling at the Sultan gold prospect within its West Tanami project in Western Australia.
The drilling aims to target a previously untested position up dip of high-grade gold mineralisation. Drilling in late 2022 intersected 7.6 metres at 3.2 grams per tonne (g/t) gold from 326.2 metres, including 1.1 metres at 15.9 g/t gold from 329.7 metres through a single diamond drill hole.
Hamelin’s new program will involve 1200 metres of RC drilling.
Shares in HMG last traded at 11 cents.
Also in the materials space, Greentech Metals (GRE) has reported more high-grade copper mineralisation through RC drilling at its Whundo project in Western Australia.
The company recently completed its maiden RC program at the Yannery prospect, as part of Whundo within WA’s Pilbara region.
Significant intercepts included 21 metres at 2.1 per cent copper from 22 metres.
Shares in GRE last traded at 16 cents.
GrainCorp (GNC) has posted “excellent” 1H23 financial results, reporting EBITDA of $383 million and a net profit after tax (NPAT) of $200 million.
The company announced both its business segments – agribusiness and processing – contributed to the strong performance.
GrainCorp has updated its FY23 guidance to EBITDA of $500 – $560 million, up from $470 – $530 million, and its NPAT of $220 – $260 million, up from $180 – $220 million.
Shares in GNC last traded at $7.10.
Meanwhile, Western Gold Resources (WGR) has identified an extensive 1.6-kilometre gold anomaly at its Gold Duke project in Western Australia.
Assays were received from an ongoing ultra fine fraction (UFF+) soil program at the project, where the company completed 1624 samples over the Prince Ivan project area.
“The discovery of the gold anomaly at Prince Ivan is extremely exciting for the exploration
team as it confirms the target generation approach being used at the project,” WGR Managing Director Warren Thorne said.
Shares in WGR last traded at 4.6 cents.
Marmota (MEU) has commenced diamond drilling at its Aurora Tank gold project in South Australia.
MEU Chair Dr Colin Rose said it was “pleasing” to begin re-drilling of diamond holes at the project.
“After a long delay, it is very pleasing that our original diamond program should
soon be back on track,” he said.
Shares in MEU last traded at 3.8 cents.
