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The ASX200 is trading down around 1.19 per cent, taking a slight respite from yesterday’s all-time high.
Most sectors are in the red, IT has dropped the most, down nearly four per cent. Real estate follows and is down around 3.1 per cent.
Energy is leading the gains and was up about point three of a per cent.
Today we’re looking at Ramelius Resources, Recce Pharmaceuticals, Calmer Co, Energy Resources Australia and Rio Tinto.
Company News
Ramelius Resources (ASX:RMS) shares are up around 8 per cent, after the company reported its gold production exceeded expectations in the March 2024 quarter.
The company produced just below 86’928 ounces of gold, from its Mt Magnet and Edna May mines in Western Australia.
Cash flow was up with $407.1 million in net cash and gold added to the record free cash flow of $125.3 million for the quarter.
RMS has been trading at $1.95.
Recce Pharmaceuticals (ASX:RCE) has secured its first patent for its flagship anti-infective drug R327 in Israel. The patent is valid until 2041 and will grant Recce legal rights to the drug’s production, distribution, and use in Israel.
R327 targets bacterial and viral infections, with a focus on conditions like burn wounds, UTIs, gonorrhea, influenza, and COVID-19.
RCE has been trading at 46 cents.
Wellness consumer player the Calmer Co (ASX:CCO) reported e-commerce sales of more than $10,000 per day in March, totalling $320,000 for the month.
This comes from strong performances in both Australia and the US, in which sales growth was up 25% month on month.
The company plans to launch a social media-driven campaign to promote its kava-based health drinks which are now available to purchase on Shopify.
CCO has been trading at 5 cents.
(RIO + ERA)
Energy Resources of Australia (ASX:ERA) has appointed Rio Tinto (ASX:RIO) to oversee the Ranger Rehabilitation project in the Northern Territory through a new Management Services Agreement (MSA).
Rio holds 86.3% of ERA’s shares, the collaboration is expected to enhance the efficient delivery of the project.
The MSA is expected to commence in the second quarter of 2024.
ERA was trading at 5.5c at 11am AEDT.
RIO has been trading at $123.37 at 11am AEDT.
