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The ASX200 is trading strongly to start the week, gaining around three quarters of a per cent.
While the Real Estate sector has taken the lead, the Energy sector spurred early gains, driven by Strike Energy (ASX:STX), which is up more than 6 per cent on its update to net gas pay, thanks to gas intersections at its Walyering-7 well.
And $1.64 billion market cap uranium explorer, Deep Yellow (ASX:DYL) will join the ASX200 tomorrow, replacing Silver Lake Resources (ASX:SLR) which is being acquired by Australian Gold producer, RED 5 (ASX:RED).
Gina Rinehart’s Hancock Prospecting has acquired an additional A$20.4 million stake in Vulcan Energy Resources (ASX:VUL), bringing its holding to 7.5% and making it Vulcan’s second-largest shareholder.
This investment coincides with an additional $40.8 million investment from international engineering giant CIMIC and $4 million from the Victor Smorgon Group as part of a Vulcan-led private placement priced at $4.08 cents a share. CIMIC holds 6% of the company.
The funds raised will cover early-stage engineering work, some of which will be done by CIMIC.
VUL has been trading up nearly 3.4 per cent to around $4.90.
Infini Resources (ASX: I88) has been up about 5.5%, on news its acquired the Bellah Bore East uranium deposit in WA from Mine Operations Exchange Pty Ltd.
The project has an inferred resource under the 2004 JORC code, of 350,000 tonnes at 210 parts per million. It lies alongside the Yeelirrie North uranium tenement already held by Infini. The deal is $47,500 plus a one per cent smelter royalty.
I88 has been trading at 19 cents.
And, kava drinks company, The Calmer Co (ASX:CCO) has launched a $2 million capital raise so it can boost its milling, drying, sieving, packaging and labelling capabilities at the Company’s Navua processing facility in Fiji.
CCO has been trading at 0.6 cents.
Recce Pharmaceuticals (ASX:RCE) will present at a key military conference in Florida in August regarding its flagship R327 anti-infective’s development for treating burn wounds and sepsis.
A research abstract and poster presentation will be done by the company’s executive chair Dr John Prendergast and chief medical advisor Alan Dunton.
Earlier this year, the company confirmed it had applied for a US defence research grant.
Recce has been trading just below 60 cents.
And Lithium Energy (ASX:LEL) has added nearly 15 per cent this morning on the conditional sale of its 90% stake in the Solaroz Lithium Brine Project in Argentina to CNGR Netherlands New Energy Technology for $97 million (US$63 million) cash.
CNGR Netherlands is a subsidiary of a Chinese listed company that produces precursors cathode active materials used in batteries.
LEL has been trading around 46.5 cents.
