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Phosphate specialist Aguia Resources (ASX:AGR) was closely followed after it reported its first Pampafós sales following the project’s opening in Brazil earlier this month. Since receiving its operating licenses, Aguia’s commercial team and third-party sales representatives have presented the product to more than 100 potential customers and received enquiries from across Brazil.
Interest has come from Bahia, Pernambuco, and Paraíba in the northeast, ~4,000km from the processing plant, as well as from farmers in Mato Grosso do Sul, Minas Gerais, and São Paulo in the southeast, and Paraná and Santa Catarina.
The company has received a significant order from Cotrisul, a leading agricultural organisation in Rio Grande do Sul, for 2,000 tonnes of Pampafós.
AGR has been up 5%, to 2.1c.
Also trending is Acrow (ASX:ACF), which launched a $70 million fully underwritten two-tranche placement to fund the acquisition of two businesses, Ausgroup Industrial Services and the Preston SuperDeck. The buys are aimed at extending Acrow’s capabilities across industrial access and construction services.
“We are excited by the opportunity to undertake the acquisition of two strategic and highly complementary businesses,” CEO Steven Boland said. “The acquisition of Preston SuperDeck is a significant step in broadening the company’s product offering on high-rise commercial and residential construction projects.”
ACF has been steady at 91¢, and has been down -7% this year.
Finally, Melbana (ASX:MAY) has taken a pummelling after it came out of a halt to raise concerns over the state of a key Cuban oil and gas permit. Through to mid-arvo, MAY has been down -16.7%.
Legal issues have been raised in regard to CUPET, the company’s contractual counterparty to the Block 9 production sharing contract onshore Cuba, in which Melbana holds a 30% interest and operates. Operations under the PSC ceased in CY25 due to the non-payment of cash calls by its joint partner. As a result, all Melbana’s expatriate personnel and contractors were told to leave Cuba.
This week, the U.S. Department of State has designated CUPET as an SDN. An SDN generally prohibits a U.S. entity from transacting with it, and the possibility of secondary sanctions on parties from other jurisdictions.
Melbana reported today it has been and continues to seek external advice on the implications of the order for its Cuban operations.
Looking wider, the ASX initially opened lower today, dropping 38.4pts.
That’s Thursday’s
HotCopper Trends, I’m Colin Sandell-Hay – see you for close.
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