It’s been a largely positive start to trade on the local share market today, with the ASX200 up 1.5 per cent.
All sectors are afloat, with real estate leading gains, trading 2.1 per cent higher. Discretionary and telecommunication aren’t too far behind that either, adding just under 2 per cent.
In news out today, Australia’s economy has grown 0.2 per cent in the September quarter, marking the slowest quarterly growth in two years.
On top of that, the household saving-to-income ratio has dropped to 1.1 per cent, the lowest level since December quarter 2007. The ABS pointed to increased interest paid on home loans and inflation pressures on households attributed to the fall in the household savings ratio.
Dreadnought Resources (ASX:DRE) has discovered three new areas containing rare earth mineralisation along the 17-kilometre Gifford Creek Carbonatite, part of the company’s Mangaroon project in WA.
First-pass reverse circulation drilling yielded results of up to 1.24 per cent total rare earth oxides (TREO) across 24 metres from 60 metres depth.
In 2024, Dreadnought plans to RC drill these high-priority areas with co-funding support from the Geological Survey of Western Australia’s (GSWA) Exploration Incentive Scheme.
DRE has been trading at 3.2 cents.
SRJ Technologies Group (ASX:SRJ) has made its entry into the US oil and gas market with the sale of its subsea oil and gas product ‘BoltEx’ through two contracts.
The innovative flange clamp, designed for ‘hot bolting,’ has been purchased by Black Hills Energy Corp and Magnolia Torque and Testing.
Today’s total contract value came in at US$126,000.
SRJ has been trading at 7.8 cents.
Chalice Mining (ASX: CHN) has secured key approvals from the Government of Western Australia for Stage 3 Conservation Management Plan (CMP) and Programme of Work (PoW).
This approval allows the company to conduct exploration drilling across the entire 30-kilometre strike length of the Julimar Complex.
Drilling is scheduled to commence shortly, with a focus on targeted diamond drilling at Torres, Jansz, and Baudin, along with additional drilling at Hooley and a shallow air-core (AC) program.
CHN has been trading at $1.67.