The ASX200 finished off the week on a good note, up about a third of a per cent. The materials sector performed best and was the biggest gainer, up more than 1.2 per cent, while after a strong run through the week, energy pulled back more than half a per cent.
In the green
Core lithium (ASX:CXO) was up nearly 20 per cent on results from its first full year as a lithium producer.
It reported revenue of $50.6 million for FY23 and net profit after tax of $10.8 million. During the period Core Lithium increased its mineral resource estimate by 62 per cent to 30.6Mt at 1.31 per cent lithium oxide.
CXO closed the day at 40.5 cents.
Defence industry company XTEK (ASX:XTE) was up more than three per cent after the company secured a $3.2 million order for its ballistic body armour products from an international military customer. The sale follows a recent $2.6 million order. XTEK closed at 32 cents.
In the red
The energy was down today, but still gained nearly three per cent over the past week.
Woodside Energy (ASX:WDS) shed half a per cent – it’s had a rough week, with its $19 billion Scarborough gas project off northern Western Australia facing a legal challenge by activists. The Federal Court found an environmental plan for part of the project was not properly approved by traditional owners. Woodside has vowed to keep working with regulators to get the go-ahead.
Explorer Liontown Resources (ASX:LTR) fell more than a per cent after upping the capEx required for its Kathleen Valley lithium project in Western Australia. It now predicts the cost will be around A$951 million – six per cent higher. Liontown reports Kathleen Valley remains on schedule to begin first production of spodumene by mid-next year. LTR closed at $2.93.
And Lightning Minerals (ASX:L1M) was down 11 per cent because it didn’t find much lithium at its Dunas South project in Western Australia.
Pegmatites were intersected during the drilling campaign – but no significant lithium caesium-tantalum (LCT) results were reported. L1M closed the day at 12 cents.
Well, it was a big week with data on retail turnover, household savings and job vacancies and next week, we’ll see the first interest rates decision by the new RBA Governor Michele Bullock.