Join our daily newsletter At The Bell to receive exclusive market insights
Futures suggest the ASX will edge lower today following a mixed session on Wall Street overnight.
Investors are still conscious of the June 1 US debt ceiling deadline, with some concern over which politicians could oppose the US$31.4 trillion (A$48.1 trillion) deal.
On another note, the Australian Bureau of Statistics is set to release April inflation figures today.
Nonetheless, here are some ASX-listed companies with news out today:
Vulcan Energy Resources (VUL) has entered an agreement with Stellantis to develop new geothermal projects aimed at decarbonising Stellantis’ Mulhouse industrial site in France.
It marks the company’s fourth agreement with Stellantis, one of the company’s major shareholders, and represents the first joint project in France for the potential use of geothermal renewable energy to decarbonise and localise the energy supply for Stellantis’ European operations.
Both parties aim to jointly produce clean, renewable energy for internal consumption at Stellantis’ manufacturing site.
Shares in VUL last traded at $3.72.
In the materials space, Lepidico (LPD) has announced it would “vigorously defend” itself against Jiangxi Jinhui Lithium Co, which filed a notice of arbitration against the company.
The notice was in relation to an offtake agreement struck between Desert Lion Energy, renamed Lepidico Chemicals Namibia, and Jinhui from 2017 to 2022, which involved the sale of material at the Karibib project in Namibia.
The notice includes a claim in the sum of roughly US$4.5 million, being the payment received from Jinhui in accordance with the offtake arrangement.
Shares in LPD last traded at 1.3 cents.
Alchemy Resources (ALY) is set to launch a drilling program at its Karonie project in the second week of June 2023.
The program includes around 5000 metres of reverse circulation (RC) drilling at lithium targets across the project in Western Australia.
The company reported all approvals were in place, heritage surveys were complete, a drill rig operator was hired and an on-site technical team was secured ahead of the drilling.
Shares in ALY last traded at 1.6 cents.
Meanwhile, Good Drinks Australia (GDA) has announced the sale of 15 gaming licences for $4.9 million.
The licenses were part of the acquisition of Joe’s Waterhole in November 2021, but the company reported they were no longer required.
The proceeds would go toward transforming Joe’s Waterhole into Matso’s Sunshine Coast, with development approved and construction underway.
Shares in GDA last traded at 60 cents.
EcoGraf has inked a non-binding agreement with POSCO International for the sale and purchase of EGR’s battery anode material products for an initial term of ten years from the commencement of production.
It follows a successful technical program, with both parties assessing the company’s graphite product performance.
It comes after ongoing discussions about areas of collaboration to support the development of EcoGraf’s vertically integrated battery anode materials business.
Shares in EGR last traded at 15 cents.
