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The ASX200 has dropped as expected, down 1.1 per cent mid-session.
Every sector is in the red, with real estate and financials both down 1.6 per cent.
The Australian market performance comes after the US Federal Reserve chief Jerome Powell delivered hawkish words after keeping rates on hold overnight, suggesting the predicted March rate cut was unlikely.
In this bulletin, we’ll discuss Hazer Group, Oncosil Medical, Magnum Mining and Exploration and Little Green Pharma.
Cleantech developer Hazer Group (ASX:HZR) is up about 12.5 per cent on achieving first hydrogen and graphite production at its commercial demonstration plant in Western Australia.
Hazer plans to progressively scale up these operations.
HZR has been trading at 67.5 cents.
Australian medical device company, Oncosil Medical (ASX:OSL) is up nearly 15 per cent because the German Institute for the Hospital Remuneration System (InEK) is allowing 84 hospitals to negotiate with the country’s innovation funding program for access to Oncosil’s specialised device.
The device is implanted directly into patients with pancreatic and liver cancers.
Oncosil has also signed a 3-year deal with EDH Nuclear Medicine and Healthcare Services to distribute its device in Turkey.
OSL has been trading at 0.8 cents.
Magnum Mining and Exploration (ASX:MGU) plans to move forward with prefeasibility study and feasibility study to build its pig iron plant in Saudi Arabia.
Magnum reports recent engineering study results were encouraging. It’ll update shareholders further in a webinar on February 12.
MGU has been trading at 1.7 cents.
And Little Green Pharma (ASX:LGP) is up 16 per cent on receiving its largest R&D tax rebate to date – $5 million.
It’ll allow the company to continue developing one of the largest genetic ranges of cannabis products in the Australian and EU markets.
LGP has been trading at 14.5 cents.
