Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 is trading up after hitting a new all-time high earlier this morning of 7910 points.
The materials sector is leading intraday gains, up around 1.15 per cent, energy follows, up around one per cent.
The staples and health care sectors have dipped the most, both down around point eight of a per cent.
We’ve put Brazilian Critical Minerals, Alara Resources, Austal Limited and Perenti Limited in the spotlight.
Company News
Brazilian Critical Minerals (ASX:BCM) has achieved up to 83% recovery of magnetic rare earth oxide (MREO) in its phase 2 met test work.
The test used ammonium sulfate at ambient temperatures with short leach times of 30 minutes.
BCM is working on refining downstream rare earth extraction in Brazil with enhanced ESG parameters and will target a maiden JORC scheduled for publication later this month.
BCM has been trading at 2.2 cents.
Alara Resources (ASX:AUQ) has secured an extended exploration block in Oman within its existing JV, spanning 1452 square kilometres, under the name Block 22-B.
The expansion enables Alara to explore for copper-gold, using the exploration licenses granted to Al Hadeetha, where Alara holds a 51% stake.
AUQ was up 6.4% and has been trading at 6.7 cents.
Global shipbuilder, Austal (ASX: ASB) has received a proposal for the takeover by South Korea’s Hanwha Ocean Co.
The proposal was described as ‘unsolicited, conditional and non-binding’.
The proposal will entail Hanwha to acquire Austal through a scheme of arrangement, and Austal shareholders will receive $2.83 for each of their shares.
ASB was up 10 per cent trading at 2.44 cents.
Perenti Limited’s (ASX:PRN) underground mining company Barminco has won a three year deal with Regi Resources (ASX:RRL) worth $393 million.
Barminco will develop underground assets at the Regis-led Duketon operations in the WA Goldfields.
Perenti and Regis have had a relationship for a number of years, dating back to 2019.
PRN has been trading at 97 cents.
