The ASX200 has sunk through early trade, down about a per cent. It’s been challenged by the performance of US markets overnight and nearly all sectors have been losing ground.
IT has been leading the declines with a 2.5 per cent drop, followed by real estate which is down nearly 1.5 per cent. Telecommunications, materials, industrials and consumer discretionary are all down at least a per cent.
Gas producer Strike Energy (ASX:STX) is up half a per cent after providing an update on its Walyering gas field production in Western Australia and announcing a gas sales agreement with privately-owned Alinta Energy.
Strike reported that the Walyering gas field reached nameplate capacity of 33 terajoules per day and 265 barrels per day of condensate on Christmas Eve.
Its gas sales agreement with Alinta Energy is for the offtake of 3.4 gigajoules of gas, delivered into the Parmelia gas pipeline for two years from next month.
Strike, which late last year took over Talon Energy, has been trading at 48.5 cents.
Brainchip Holdings (ASX:BRN) is down more than 2.75 per cent after announcing the extension of a partnership with LDA Capital to secure more funds as it attempts to grow and commercialise a neuromorphic AI processor called Akida, that mimics the human brain.
It allows BrainChip to access the remaining A$2.7 million this quarter.
BrainChip has agreed to an additional minimum Drawdown of $12 million this calendar year with LDA Capital’s share purchase price set at 91.5 per cent of the Volume Weighted Average Price.
The company has been trading at around 17.25 cents.
Rare earths and gold explorer, Viridis Mining and Minerals (ASX:VMM) has soared about 20 per cent today after claiming to have ‘world-class’ intercepts across its ionic clay Colossus Rare Earth project in Brazil.
Results from initial auger and diamond drilling at its CDO prospect returned rare earth oxide grades above 8200 parts per million, with another intersection reaching more than 9000 parts per million. The results were from surface or very shallow depths.
The company’s now awaiting the assay results from more than
150 exploration drill holes.
Viridis has been trading around $1.59.
And a price spike for another rare earth explorer, MTM Critical Metals (ASX:MTM) came crashing back down today, on assay results from its Pomme project in Quebec Canada and following a price query from the ASX on recent trade.
MTM is down more than 25 per cent after reporting diamond drilling results.
It’s highlighted result was an intercept of 330 metres at 3400 parts per million per cent total rare earth oxides and 0.02 per cent niobium from 71 metres depth.
MTM has been trading under 7 cents.
We’ll have more news after Market Close.