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TMH Spotlight: ASX200 tracks higher in midday trade

ASX News, Day Trading, Market Summary
26 May 2023 13:14 (AEDT)

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The ASX200 was tracking higher in midday trade, led by tech stocks which rose 0.7 per cent, closely followed by the financial sector.

Miners also edged into the green, up 0.13 per cent.

Minerals 260 (M16) was among those to receive a boost to its share price. The company has appointed Luke McFadyen as its new Chief Executive Officer.

Mr McFadyen has more than 15 years’ experience working in global organisations, including BHP (BHP), South32 (S32), Syrah Resources (SYR) and KPMG.

He’ll step into the role on July 1.  Minerals 260 was up more than 2 per cent, trading at 46.3 cents.

Exploration company, Aruma Resources’ (AAJ) latest assays have expanded its gold mineralised footprint at the Salmon Gums gold project in WA.

The find was uncovered in a 44-hole reverse circulation program and 894-hole auger program to follow up previous “bonanza-grade” hits.  

Aruma’s recent assays include three g/t gold from a 71-metre depth, with a new target also discovered. Company shares were trading at 6.3 cents.

Nickel sulphide explorer Nordic Nickel (NNL) is also on the rise. It comes after the company’s first diamond drill hole at its flagship Pulju project in northern Finland confirmed an “extensive” nickel sulphide system.

Nordic Nickel is now looking at expanding the current project with further exploration. The company climbed 4 per cent to 25 cents.

In the industrials space, NRW Holdings’ (NWH) subsidiary has been awarded a $54 million-dollar contract by Rio Tinto to carry out work at the Western Range mine site in Western Australia.

Through the agreement, Primero Group will be responsible for the design, construction and commissioning of the non-process infrastructure at the mine.

The contract spans roughly 12 months, backdated to April 2023. NRW Holdings was trading at $2.20.

And finally, Mayfield Childcare (MFD) has acquired two high-performing childcare centres in Victoria and Queensland.

The company will fork out $2.4 million for both, bringing its collection to a total of 38 centres across three states. Shares in the company were trading at $1.10.


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