Rio2 gold project in Chile on track for 2026 start
The company recently received a US$50 million (A$78 million) third prepayment instalment from United States-based precious metals investment firm Wheaton Precious Metals International, under a precious metals purchase agreement for Fenix.
The funding stream has been a continued strong endorsement of Rio2's construction and development of its massive oxide-hosted, heap leach gold project. The latest prepayment is a key marker along the project's path towards launching mine production by the end of the year.
From October 2024 to June this year, Rio2 has invested $56.4 million in the venture against a $57.8 million budget, excluding corporate overheads and 2022 pre-construction costs.
The 1514-strong workforce is 94 per cent Chilean, including 41 per cent who hail from the surrounding Atacama, highlighting the company's strong emphasis on local employment.
Construction milestones include the installation of 12.7 hectares of geosynthetics and 4 hectares of over-liner material on a leach pad, which the company expects will carry production through the first six months.
The main haul road is 90 per cent complete, while a second haul road is 40 per cent complete. Both routes are critical for connecting the Fenix South mine pit to the leach pad.
At the adsorption, desorption and recovery plant, work has progressed on the adsorption areas, reagent handling and storage facilities, while the process plant's structural assembly is almost complete.
Cladding is 90 per cent finished and the first of three electrical switch rooms is in transit from the nation's capital, Santiago.
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The Australian
3 hours ago
- The Australian
Compumedics wins sales as broker lifts target ~140pc
Compumedics secures two lucrative sales for its Somfit sleep device with combined revenues approaching $2 million Sales to a leading CRO in US and a Finnish pharmaceutical company support strategy to expand in adjacent markets East Coast Research revises Compumedics target price to 75 cents per share, showing upside potential of 138.7% Special Report: Compumedics has secured lucrative multiple Somfit sales to leading pharmaceutical and clinical research organisations (CROs) in the US and Europe East Coast Research sees an almost 140% upside to its current target price. Compumedics (ASX: CMP), a global medical device company specialising in sleep, brain and ultrasonic blood flow monitoring, has inked a sale with a leading CRO for its Somfit devices. The company noted the devices will be used in a major US-based clinical drug trial with one of the world's largest pharmaceutical companies. Compumedics also secured a second sale with Finland-based global pharmaceutical firm Orion Pharma for deployment of Somfit devices across a multi-country, multi-centre clinical study in Europe. Somfit is a wearable device used for collecting physiological data during sleep with combined revenues from both sales approaching $2 million. The sales support the company's strategy to expand into adjacent markets, where Somfit's ability to collect electroencephalography (EEG) signals and provide insights into sleep stages and patterns provides a distinct advantage over traditional home sleep testing systems. The contracts also validate Somfit's clinical value proposition in the pharmaceutical sector, where understanding the effects of new drugs on sleep is becoming an increasingly important regulatory and research requirement. 'Building a diversified global business' Executive chairman and CEO Dr David Burton said the sales wins highlight the growing momentum Compumedics was seeing for Somfit in new market segments. 'The pharmaceutical clinical trial market is an ideal adjacency for our technology, and these early contracts, approaching $2 million in combined value, demonstrate Somfit's versatility beyond traditional home sleep testing,' 'This is another important step in building a diversified global business with multiple high growth pathways." Compumedics expects to build on this early traction, continuing engagement with major pharmaceutical companies and research institutions worldwide. Broker re-rates Compumedics following milestones and global expansion Meanwhile, East Coast Research has revised its target price for Compumedics to 75 cents per share, representing an upside potential of 138.7% from the share price at the time of its review and an 11.9% increase on its previous 67 cent target set in March. In its updated valuation, East Coast Research set a base case of 59 cents per share and an upside case of 92 cents, with a price-to-NAV (net asset value) of 0.42x. The Sydney-based equity research house said the re-rating reflected several key achievements, including: Record FY25 sales orders of $63.4m, up 22% YoY and return to profitability with $3m EBITDA for the financial year Validation of its world-first dual-use Orion LifeSpan MEG system Strong FY26 guidance with $70m in revenue and $9m in EBITDA supported by US launch of Somfit D, rising SaaS contributions and delivery of three MEG systems A $24.4 million pipeline secured through two long-term distribution agreements in China Broader entry into pharmaceutical trials 'These developments not only strengthen CMP's position in high-growth segments like SaaS and brain imaging but also significantly de-risk its revenue outlook and enhance its value proposition in the global medtech and connected health markets,' the broker noted. East Coast said Compumedics remained well-positioned for long-term value creation. This article was developed in collaboration with Compumedics, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
News.com.au
5 hours ago
- News.com.au
ASX Tech July Winners: A strong month as AI fever takes hold; iSynergy rockets 1,000pc
Wall Street tech rockets on earnings and stimulus ASX tech shines as inflation cools and rate hopes rise IS3 explodes 1000% on AI cloud ambitions What happened globally in July? After months of tweet-storms and tariff theatrics, July finally served up something investors hadn't tasted in a while ... clarity. Both the Nasdaq and S&P 500 hit fresh all-time highs during the month, riding a wave of solid earnings and the sense that maybe Washington was done setting things on fire. US growth stocks outpaced value 2-to-1, and nearly 80% of S&P 500 companies beat earnings expectations, according to figures from JPMorgan. Trump's new trade deals - first with Vietnam, then Japan and the EU - dialled down the tension. Tariffs are still chunky (15-20%), but investors would rather deal with known pain than flinch at every tweet. Then there was the real sugar hit: Trump's 'One Big Beautiful Bill Act' finally got the green light in July, promising another round of fiscal stimulus. On the quarterly reporting front, the Magnificent Seven's earnings surged 21.6% year-on-year while the rest of the market huffed along at just 4%. Alphabet and Apple lit the match, and Nvidia rode the rocket to new highs. But Tesla dropped more than 8% after Elon muttered something about 'difficult times' ahead. ASX tech stocks had strong month Then we pan back to the local stage, where the ASX 200 clocked a tidy 2.36% gain for July, its fourth straight winning month. With inflation cooling to 2.1% for the June quarter, punters started betting the RBA might soon loosen the screws. Rate cut hopes always put a bit more spring in the market's step. Among the 11 sectors, healthcare stole the spotlight. After months stuck in the recovery ward, health ripped back with a near 9% gain, making it July's best performer. That finally gave investors a reason to stop writing 'under review' next to their CSL notes. Tech also stacked on a 5% gain for the month, thanks to a mix of AI optimism and real earnings momentum. But some analysts reckon this market is still on a short rope. Profits have been falling for three years straight but valuations are still sitting up around 19x forward earnings. And the only thing keeping investors from bolting to cash are growth sectors like tech and biotech. ASX tech winners in July Code Name Price Month % Change Market Cap IS3 I Synergy Group Ltd 0.011 1000% 18,769,299 CT1 Constellation Tech 0.002 100% 2,949,467 NVQ Noviqtech Limited 0.042 83% 10,564,535 NVU Nanoveu Limited 0.069 68% 63,433,796 DRO Droneshield Limited 3.750 64% 3,279,820,703 AI1 Adisyn Ltd 0.070 59% 50,688,792 NOV Novatti Group Ltd 0.030 58% 16,799,952 ATV Activeportgroupltd 0.014 56% 9,617,679 OEC Orbital Corp Limited 0.145 53% 23,893,059 LIS Lisenergylimited 0.160 52% 102,432,037 WBT Weebit Nano Ltd 2.420 49% 504,472,157 BEO Beonic Ltd 0.300 43% 21,258,302 OLL Openlearning 0.017 42% 8,205,469 AXE Archer Materials 0.290 35% 73,905,634 FL1 First Lithium Ltd 0.100 33% 7,965,360 HYD Hydrix Limited 0.017 31% 4,637,070 ICE Icetana Limited 0.072 29% 38,291,466 AT1 Atomo Diagnostics 0.018 29% 14,177,803 SMN Structural Monitor. 0.530 28% 81,834,675 SP3 Specturltd 0.015 25% 4,753,502 ZMM Zimi Ltd 0.010 25% 4,900,438 360 Life360 Inc. 40.160 25% 6,827,390,399 8CO 8Common Limited 0.021 24% 4,705,993 KYP Kinatico Ltd 0.240 23% 103,702,076 1CG One Click Group Ltd 0.011 22% 13,005,148 FLX Felix Group 0.220 22% 45,190,339 X2M X2M Connect Limited 0.019 21% 8,266,080 QOR Qoria Limited 0.600 21% 800,177,642 HSN Hansen Technologies 6.010 21% 1,226,308,647 DTI DTI Group Ltd 0.006 20% 5,382,617 ID8 Identitii Limited 0.006 20% 4,668,081 ODA Orcoda Limited 0.078 20% 14,626,109 ROC Rocketboots 0.097 20% 16,617,395 AMO Ambertech Limited 0.185 19% 17,649,885 FCL Fineos Corp Hold PLC 2.760 18% 934,351,756 NVX Novonix Limited 0.450 18% 286,775,115 PHX Pharmx Technologies 0.110 18% 65,835,747 JCS Jcurve Solutions 0.046 18% 15,195,798 XYZ Block Inc 120.940 18% 5,466,116,351 HCL Highcom Ltd 0.365 18% 37,479,175 EPX EPX Limited 0.027 17% 17,811,282 DCC Digitalx Limited 0.088 17% 129,806,213 JAN Janison Edu Group 0.170 17% 44,181,003 CYB Aucyber Limited 0.080 16% 16,699,810 RUL Rpmglobal Hldgs Ltd 3.370 16% 743,859,780 CAT Catapult Grp Int Ltd 6.630 13% 1,880,880,300 EOS Electro Optic Sys. 3.210 13% 619,376,238 RKN Reckon Limited 0.535 13% 60,612,735 CML Connected Minerals 0.140 12% 5,790,150 SEN Senetas Corporation 0.019 12% 31,464,363 TAL Talius Group Limited 0.068 11% 19,498,919 BLG Bluglass Limited 0.010 11% 25,764,258 DUB Dubber Corp Ltd 0.020 11% 52,500,599 EXT Excite Technology 0.010 11% 20,726,419 PPS Praemium Limited 0.705 10% 336,789,198 RCL Readcloud 0.110 10% 16,898,174 IFM Infomedia Ltd 1.300 10% 491,945,597 XF1 Xref Limited 0.170 10% 37,415,260 ERD Eroad Limited 1.420 10% 266,207,194 WTC Wisetech Global Ltd 119.380 9% 39,947,292,069 RKT Rocketdna Ltd. 0.012 9% 10,986,279 RWL Rubicon Water 0.190 9% 45,732,069 TYR Tyro Payments 0.955 9% 504,871,747 CCR Credit Clear 0.255 9% 108,285,404 IKE Ikegps Group Ltd 0.910 8% 167,050,840 NXL Nuix Limited 2.370 8% 783,837,994 DDR Dicker Data Limited 8.720 8% 1,575,634,092 SPX Spenda Limited 0.008 7% 34,614,116 ATA Atturralimited 0.855 7% 324,036,918 GTI Gratifii 0.099 6% 37,599,343 FCT Firstwave Cloud Tech 0.017 6% 29,129,818 HTG Harvest Tech Grp Ltd 0.017 6% 15,453,311 EVS Envirosuite Ltd 0.088 6% 127,774,253 CPU Computershare Ltd 42.150 6% 24,379,015,001 BRN Brainchip Ltd 0.205 5% 415,277,056 NOR Norwood Systems Ltd. 0.021 5% 10,834,480 OAK Oakridge 0.067 5% 1,808,860 WHK Whitehawk Limited 0.012 5% 8,525,483 ASB Austal Limited 6.560 4% 2,762,941,089 MP1 Megaport Limited 15.060 4% 2,423,776,460 CDA Codan Limited 20.950 4% 3,803,909,140 CF1 Complii Fintech Ltd 0.025 4% 14,289,450 BCC Beam Communications 0.130 4% 11,234,850 CXZ Connexion Mobility 0.026 4% 20,832,933 UBN Ltd 0.870 4% 68,417,589 SNS Sensen Networks Ltd 0.030 3% 23,791,124 CGO CPT Global Limited 0.062 3% 2,597,637 XRG Xreality Group Ltd 0.032 3% 23,793,521 KNO Knosys Limited 0.036 3% 7,780,993 VR1 Vection Technologies 0.038 3% 67,200,032 EIQ Echoiq Ltd 0.225 2% 145,167,235 SLX Silex Systems 4.250 1% 1,011,949,327 XRO Xero Ltd 180.990 1% 29,932,420,128 iSynergy Group (ASX:IS3) IS3 shares soared 1000% in July after it inked a non-binding MoU with Nasdaq-listed Treasure Global (TGL) to explore a $600,000 deal for AI chips and cloud infrastructure in Malaysia. The plan is to buy advanced GPUs over 12 months and potentially co-develop regional AI data centres. While the MoU isn't binding and no money's changed hands yet, it marks IS3's first serious step into AI infrastructure, aligning with its broader goal to scale up digital capabilities and regional reach. The share price surge caught the ASX's attention, prompting a speeding ticket. IS3 responded by confirming it had been in early talks, which had now been formalised in the MoU, but stressed the discussions were 'substantially incomplete' and didn't justify the share price spike. Still, the market clearly saw something it liked in IS3's AI ambitions, and ran with it. NoviqTech (ASX:NVQ) NoviqTech fired the starter's pistol on its quantum push in July. The company launched a new subsidiary called Quantum Intelligence to bring quantum computing, AI and blockchain to mainstream enterprise. It's kicking off with a September beta of two subscription-based tools: QI Provenance for tamper-proof digital trust and QI AI for blockchain-backed decision-making. Later this year, NVQ rolls out the full Quantum Intelligence Platform, powered by NVIDIA CUDA-Q, promising up to 10x performance for heavy workloads like logistics, finance and cryptography. To back it, NVQ has locked in a $1.25m placement at 3.6c a share and secured long-term global rights to the QI software from Singapore-based Morphotech. The licence is non-exclusive and royalty-free until NVQ hits profitability. Nanoveu (ASX:NVU) In July, Nanoveu took a major leap from simulation to silicon, kicking off synthesis of its ultra-efficient 16nm ECS-DoT chip in partnership with Cairo's Centre of Nanoelectronics. The chip is designed for smart edge devices, from wearables to autonomous systems. Alongside it, Nanoveu launched a modular AIoT kit to fast-track prototyping across sectors like healthcare and logistics, and opened early access for developers. To fuel the rollout, the company raised $2 million from high-net-worth backers at 5.5c a share, giving it the runway to finish chip production and scale commercial testing. With phase 2 drone trials now underway, Nanoveu is putting ECS-DoT through its paces in real-world environments. The aim is to validate its energy efficiency after earlier simulations showed a 33% boost in drone flight endurance. DroneShield (ASX:DRO) DroneShield had a bumper July, with major announcements sending its share price flying. First up, it secured a $5 million slice of a $16.9m Australian Defence Force contract under LAND156, supplying handheld gear to knock out rogue drones. Then came the big swing. DroneShield committed $13m to triple its Sydney production space and expand R&D, as it ramps up to meet booming global demand. The upgrade pushes total annual manufacturing capacity to $2.4 billion by end-2026. This was backed by fresh wins including a $61.6m European deal and an $11.7m R&D contract with a Five Eyes defence department, its fourth with the same customer. DroneShield is scaling fast and gearing up for serious global defence action. Adisyn (ASX:AI1) Adisyn has installed and commissioned its new Atomic Layer Deposition (ALD) system at its Israeli research site, marking a big step forward in its graphene R&D push. The upgraded Beneq TFS 200 machine gives Adisyn the firepower to deposit ultra-thin graphene layers with greater speed, precision and control. This is crucial for developing low-temperature graphene solutions aimed at next-gen semiconductor interconnects. The system will run in tandem with a second unit already operating at Tel Aviv University, allowing Adisyn to accelerate validation across different substrates and conditions. The dual ALD setup sets the stage for Adisyn to fast-track its graphene roadmap and move closer to real-world chip integration. ASX tech losers in July Code Name Price Month % Change Market Cap 1TT Thrive Tribe Tech 0.010 -50% 1,015,864 VIG Victor Group Hldgs 0.049 -36% 31,959,107 AR9 Archtis Limited 0.155 -33% 52,584,833 XPN Xpon Technologies 0.007 -22% 2,899,773 OPL Opyl Limited 0.023 -21% 5,652,671 AD8 Audinate Group Ltd 6.150 -18% 518,027,839 GTK Gentrack Group Ltd 9.750 -15% 1,050,288,486 DXN DXN Limited 0.061 -15% 18,220,922 AVA AVA Risk Group Ltd 0.085 -15% 24,690,122 AJX Alexium Int Group 0.006 -14% 9,518,572 VNL Vinyl Group Ltd 0.099 -14% 133,309,975 COS Cosol Limited 0.583 -13% 106,008,474 FND Findi Limited 3.710 -13% 229,282,530 EOL Energy One Limited 13.200 -12% 413,561,056 TZL TZ Limited 0.048 -11% 13,469,477 SKO Serko 2.620 -11% 326,452,393 SPZ Smart Parking Ltd 0.800 -10% 328,122,329 ESK Etherstack PLC 0.450 -8% 59,675,401 3DP Pointerra Limited 0.046 -8% 37,033,533 PRO Prophecy Internation 0.400 -7% 29,499,574 SPA Spacetalk Ltd 0.150 -6% 10,966,902 PFM Platformo Ltd 0.076 -5% 7,213,031 YOJ Yojee Limited 0.380 -4% 132,577,872 5GN 5G Networks Limited 0.135 -4% 40,208,638 DWG Dataworks Group 0.084 -3% 8,586,820 EML EML Payments Ltd 1.125 -3% 430,449,460 BVS Bravura Solution Ltd 2.150 -3% 963,961,104 SOR Strategic Elements 0.031 -3% 14,690,871 ASV Assetvisonco 0.037 -3% 27,541,378 SMP Smartpay Holdings 1.015 -2% 245,572,616 ACE Acusensus Limited 0.930 -2% 130,400,752 DUG DUG Tech 1.340 -1% 180,441,185 ELS Elsight Ltd 1.750 -1% 379,811,826 RDY Readytech Holdings 2.270 -1% 280,490,523 DTL Data#3 Limited 7.540 -1% 1,168,008,831 IRE IRESS Limited 7.940 -1% 1,483,108,424 VGL Vista Group Int Ltd 3.230 -1% 771,435,051 OCL Objective Corp 19.050 -1% 1,821,184,686
The Australian
9 hours ago
- The Australian
Imagion raises $3.5m to advance early cancer detection clinical program
Imagion secures $3.5 million in capital raise to sophisticated investors and family offices Placement to support ongoing clinical program for MagSense Imaging agent for cancer Company currently preparing to undertake Phase II trial in HER2+ breast cancer in the US Special Report: Imagion Biosystems has raised $3.5 million through a heavily oversubscribed two-tranche placement to sophisticated investors and family offices as it prepares to launch a Phase II trial of its MagSense imaging technology for HER2+ breast cancer in the US. The placement, led by CPS Capital, was priced at 1.5 cents per share with one free attaching listed option exercisable at 4 cents and expiring on December 13, 2027. The offer price represented a 10% discount to the 10-day volume-weighted average price (VWAP) for Imagion Biosystems (ASX:IBX) shares before announcement of the capital raising. Directors will also contribute $150,000 based on the same terms and conditions, subject to shareholder approval at an extraordinary general meeting in September. The placement consists of two tranches including: Tranche 1 –45 million new shares to raise ~$675,000 with settlement on August 5 and allotment of new shares on August 6 Tranche 2 – The balance of shares (~$2.8m) conditional on shareholder approval at an EGM The EGM is scheduled for September 18 with settlement of tranche 2 earmarked for September 19. Allotment of new shares under tranche 2 and new listed options under both tranches is set for September 22. Listen to more from IBX: Imagion's cancer imaging alternative Use of proceeds to advance clinical program Funds will be used to advance Imagion's MagSense imaging technology, specifically for HER2 breast cancer and initiate the Phase I clinical programs for both prostate and ovarian cancer. Imagion's trademarked platform aims to revolutionise cancer diagnosis by introducing molecular imaging to MRI. The company expects to initiate its HER2 breast cancer trial in the near term with key objectives for the company including: Submission of an investigational new drug (IND) application to the US Food and Drug Administration (FDA) Completion of drug manufacturing to support the trial Filing of new intellectual property (IP) applications related to molecular MRI Initiation of the trial and completion of first patient cohort Collaborations with MRI experts to develop a quantitative MRI platform and AI-based modelling optimised for MagSense 'We are very pleased with the strong demand we saw from investors following our recently announced progress with the FDA on the IND submission for our upcoming HER2+ Breast Cancer Phase 2 clinical trial,' IBX executive chairman Robert Proulx said. 'I want to thank CPS Capital for their lead role and all the investors who have shown their support for our clinical plan.' This article was developed in collaboration with Imagion Biosystems, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Sponsored Nova Minerals has released a conceptual processing flowsheet for its 1.24Moz RPM deposit in Alaska. Sponsored Rhythm Biosciences has announced that its second-generation ColoSTAT blood test detects colorectal cancer consistently across all stages of the disease.
