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ASX200 is making a strong run into the weekend – up 1.5 per cent with all sectors ahead.
Seismic testing for Woodside’s (WDS) Scarborough gas project off Western Australia’s northern coast has stalled, despite approvals attained in July.
The Environmental Defenders Office is challenging the approvals on behalf of First Nation’s woman Raelene Cooper, who claims Woodside didn’t consult with her and other traditional owners. A hearing is scheduled for later this month. But it wasn’t enough to suppress the share price today, Woodside’s up 1.8 per cent.
Green steel project developer Magnum Mining and Exploration (MGU) has raised $2.65 million in a capital raise to advance its Buena Vista project in Nevada.
The placement was completed at an issue price of 3.3 cents. Funds raised will support the development of the project and provide general working capital.
MGU has been trading at the raise price of 3.3 cents.
Dual-listed Novonix (NVX) has lifted more than seven per cent after achieving key milestones on the path to EV battery materials production.
The company’s furnaces have met design targets, the company has doubled its production capacity targets, and, capital and operating costs are now expected to be lower.
The news pushed shares up eight per cent to 74 cents in the first hour of trade. Novonix makes battery materials using graphite, often touted as the ‘forgotten’ battery metal.
NVX has settled back to be trading at 73.5 cents.
Australian-based Anson Resources (ASN) has gained eight per cent after ramping up lithium carbonate production at its demonstration plant in Florida to accommodate the demand from potential offtake partners.
The plant is producing battery-grade lithium carbonate from brines sourced from the company’s Paradox project in south-eastern Utah, USA.
ASN has been trading above 16 cents.
ASX-listed reproduction specialist Memphasys (MEM) has announced 10 births in India thanks to its Felix System to assist couples struggling to conceive.
India is a top five target for the introduction of the system, however, sales have been suspended due to changes made by the Indian regulator last month. Memphasys said it was working to address the issue.
Memphasys last traded at 1.5 cents.
That’s you’re Market Update, we’ll see you later on for Market Close.
