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The ASX200 closed the day trading up 0.53 of a per cent.
All sectors bar one were in the green. Real estate finished on top, up 1.8 per cent, and the Energy and Health care sectors also gained more than one per cent.
Discretionary tried to stay in the green but fell just short at close.
In this bulletin we’ll discuss Australian Strategic Materials, Argenica Therapeutics, Venus Metals Corporation, Pilbara Minerals and Patriot Battery Metals.
Australian Strategic Materials (ASX:ASM) shares gained over five per cent, on a contract with US International engineering firm Bechtel, to supply design schematics for its Dubbo Rare Earths project in NSW.
This comes only days after receiving a letter of interest from the US export bank weighing up a potential funding decision of US$600M for Dubbo.
ASM closed the day at $1.46.
Argenica Therapeutics (ASX:AGN) is up just over seven per cent, after the company’s flagship drug ARG-007 won rare paediatric disease designation (RPDD) from the US health regulator FDA.
Argenica is hoping to commercialise the drug to improve mortality outcomes in infants with brain tissue inflammation following brain injury caused by low oxygen.
AGN closed the day at 61 cents.
Venus Metals Corporation (ASX:VMC) gained more than 12 per cent on recent exploration findings at its Youanmi Lithium project in Western Australia.
High-grade lithium pegmatites were reported at both the East Zone and North Zone, showing grades as high as 4.6% Lithium Oxide.
A follow-up exploration program is planned, including RC and diamond drilling, as well as soil sampling to further investigate on-site potential.
VMC closed the day at 10 cents.
Defence and space tech company Electro Optic Systems Holdings (ASX:EOS) was down more than 18 per cent on news it’s raising $35 million through an institutional placement priced at $1.70.
The funds will go to support future sales growth in key global markets and to invest in long lead time critical supplies, including remotely operated cannons and similar equipment.
EOS closed at the day to meet the placement price at $1.70.
Pilbara Minerals (ASX:PLS) was down just over one per cent despite inking an agreement with major Chinese lithium chemicals company Ganfeng.
The agreement is to complete a joint feasibility study on a 32-thousand tonnes per annum downstream lithium conversion plant in Australia.
The feasibility study is expected to be complete by March 2025.
PLS closed at $3.87.
Finally, Patriot Battery Metals (ASX:PMT) was down nearly 3.3 per cent despite reporting new spodumene-pegmatite finds at its Corvette project in Quebec, Canada.
Some assays returned 0.94 per cent lithium oxide and 0.86 per cent lithium oxide – grades that appear to have missed investors’ expectations.
PMT closed at 88.5 cents.
That’s market Close, I’m Keely Lynch, have a good evening.
