Top 10 at 11: ASX ticks up as gold stocks extend gains; CDE brings ex-Nvidia AI expert onboard
With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
Gold prices lift again
Spot gold climbed 1.1% overnight, hitting US$3433.5 per ounce as US bond yields continue to fall.
That momentum has given the ASX a shot in the arm, up 0.35% in the first hour of trade with the materials sector up 1.95% and the All Ords Gold index climbing 2.31%.
Healthcare is dragging in the other direction, down 0.64% while the ASX 200 Banks index slides lower yet again, down 0.41%.
After a back-and-forth day of essentially flat trade yesterday, it'll be interesting to see whether the bulls or the bears come out on top today.
WINNERS
Code Name Last % Change Volume Market Cap
CDE Codeifai Limited 0.026 44% 18576226 $8,494,218
GTE Great Western Exp. 0.015 36% 2155603 $6,245,337
FAU First Au Ltd 0.005 25% 3855928 $8,305,165
1CG One Click Group Ltd 0.011 22% 3614212 $10,640,575
ALY Alchemy Resource Ltd 0.006 20% 667502 $5,890,381
AUR Auris Minerals Ltd 0.006 20% 84033 $2,383,130
AON Apollo Minerals Ltd 0.007 17% 72800 $5,570,741
ATS Australis Oil & Gas 0.008 14% 6353533 $9,226,437
DTM Dart Mining NL 0.004 14% 2968000 $4,193,195
ICR Intelicare Holdings 0.016 14% 62500 $6,806,634
In the news...
Codeifai (ASX:CDE) has brought ex-Nvidia AI and machine learning expert Rafael Possas onto its strategic advisory panel as the company completes acquisition of AntennaTransfer.io, to be redubbed as the QuantumAI Secure platform.
The secured payment platform is AI-driven and quantum-secured, safeguarding payments, file transfers and end-to-end communications.
First AU (ASX:FAU) has initiated a 3000m drilling program at the Nimba gold project after an extensive surface mapping program over a 10 square kilometre area.
FAU is looking for a potential ore body, delving into the local geological system in the search for fresh gold mineralisation.
Life admin company One Click Group (ASX:1CG) has exceeded its 2024 July revenue numbers in just 18 days this year, pulling in $2.2m in revenue in just over two weeks. The company's returning customer lodgement rate also increased, rising to 72% compared to 63% the previous year.
LAGGARDS
Code Name Last % Change Volume Market Cap
EEL Enrg Elements Ltd 0.001 -50% 385807 $6,507,557
RLG Roolife Group Ltd 0.003 -25% 19000 $6,371,125
CLA Celsius Resource Ltd 0.006 -14% 1390 $21,948,419
IPB IPB Petroleum Ltd 0.006 -14% 10000 $4,944,821
SPX Spenda Limited 0.006 -14% 515855 $32,306,508
TG1 Techgen Metals Ltd 0.021 -13% 225395 $3,807,977
ANO Advance Zinctek Ltd 0.97 -12% 2000 $68,910,718
HMI Hiremii 0.048 -11% 20000 $7,944,231
KGD Kula Gold Limited 0.008 -11% 1445684 $8,291,283
IND Industrialminerals 0.135 -10% 13465 $12,048,375
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News.com.au
4 minutes ago
- News.com.au
The Block dud suburbs revealed: Shock data shows reno risks
The Block's horror track record at picking suburbs for its high-profile flips has sparked warnings would-be renovators could risk vast sums of money following their lead. New analysis of median prices in the year leading up to the show's auction days for the past 17 seasons shows homes in seven of the suburbs were losing money months before contestants picked up a paint brush or emotionally abused their partner. In ten of those seasons, the show's selected suburb was significantly outperformed by the wider Melbourne or Sydney market, depending where it was located. And it appears their latest destination in Daylesford is on track to join the list of money-losing suburb choices. Latest figures show the suburb's $818,000 median has dropped $72,000 in the 12 months to the end of June. On Phillip Island last year, price records show that in the 12 months it took the show to go from buying its Cowes site to hosting the auctions in November, the median house price had tumbled $35,000 (4.5 per cent) to $750,000. And by the time the show's Hampton East auctions were held in November 2023, the local median price had dropped more than $100,000 — despite the figures used to calculate that median including The Block's sales. One of the homes purchased by high profile billionaire Adrian Portelli has already gone on to sell for a more than $1m loss. Median price reductions typically reflect a reduction in the majority of home prices in an area, including higher-end offerings like those on The Block. The reality renovation show has also been criticised for over renovating to the point where homes are sold far below what the updates would cost, as well as for its impossible time frames and unrealistic auction results. Depreciation schedules calculated for the last season of The Block by quantity surveyors BMT showed all of the homes would eventually allow an investor to claim more than $4m in tax deductions as the value of the materials and fixtures added during the renovation declined. The highest price paid was $3.3m, but the rest sold for less than $3m, indicating the properties were overcapitalised by close to $1m. With another season commencing, property, building and renovation experts have advised anyone inspired by the reality TV program to watch Grand Designs or to head to social media or YouTube for a dose of renovation before starting their own attempt. Prominent buyer's agent Cate Bakos said after more than a decade, only picking 60 per cent of suburbs where values rose wasn't a good strike rate, and in many instances it should have been clear they wouldn't perform well. Ms Bakos said more recent choices to centre the show in regional Victorian townships including Phillip Island and this year's season in Daylesford had gone against wider trends of the state's regional holiday home hotspots' values facing a protracted down turn — and anyone looking for a flip should consider similar areas with caution. 'Buying near the peak for the regional areas is a bit silly,' Ms Bakos said. 'We had crazy growth during Covid, so I wouldn't have chosen regions as a location for The Block.' The prominent buyer's agent said it was important those considering a renovation while watching this season should be very conscious that the homes were heavily overcapitalised, and warned their auctions were unrealistic. 'I would argue that it's all questionable,' Ms Bakos said. 'Watch Grand Designs — that's a better insight, I think, than The Block into what can go wrong.' Real Estate Institute of Australia president Leanne Pilkington said anyone getting ideas of flipping homes from The Block needed to remember 'the whole purpose is to entertain'. While the show did face additional challenges with the need to find a site where at least five similar properties could be worked on by contestants, Ms Pilkington said others needed to 'be much more discerning'. She added that building industry members she knew couldn't watch the show without 'getting very frustrated with it'. Despite this, Ms Pilkington said those looking for a bit of inspiration and the latest trends could potentially draw on features and advice from the judges in the reveal episodes. Her advice for picking a winning area to consider flipping a home in was to focus on homes closer to the median house price, those near public transport and key amenities such as hospitals and major shopping centres. 'And it's absolutely better to go for a middle of the road property,' Ms Pilkington said. Property Developer Network founder Rob Flux has been helping amateur property developers and flippers, tackling similar sized projects to The Block, for a number of years. Mr Flux said he had gone up against The Block's producers as a prospective buyer for a property in the past, and had been told their offer for it was about $2m above his own. 'They are overpaying in all departments,' he said. 'And, I don't know if it is by design or by coincidence, but they are going into areas that aren't growing, and sometimes where the market is going down.' While this might help them find properties that suit their needs, Mr Flux said it was not ideal. However, he noted the bigger risk was following their approach to renovations. 'Despite the fact that it's called reality TV, there's nothing real about it,' Mr Flux said. 'It's extremely rare for anyone to live on site and work for eight weeks.' Instead, he advised a more practical approach starting with understanding what was missing but likely to soon be in demand in an area, working out what buyers would pay for it and then calculating if there could still be a profit — factoring in a buffer in case the market doesn't rise. 'Then, if the market goes in your direction and it works well, you will double your profits,' Mr Flux said. Caitlin Hamston and her partner Scott have flipped or built four properties across Melbourne's inner west over the past nine years. On two occasions they've lived in the homes during the renovations, a process they wouldn't recommend for anyone with kids. While they stick to areas they know, they will even give these a miss if conditions aren't right. 'If it was going backwards, we would avoid it,' Ms Hamston said. Her advice for would-be renovators was to find areas where prices look likely to rise, pick streets with a good feel to them, then look for blocks that don't have constraints that would impact extensions or a new home build. Ms Hamston also advised against getting caught up with luxury finishes, and to look for affordable alternatives wherever possible. 'Otherwise, it defeats the whole purpose if you are trying to renovate and sell for a profit,' she said. She also advised against expecting to complete renovations quickly, with her and her partner's typically taking two years to turn over each of their four builds to date. While Ms Hamston does own a building company, which has made their work easier, she said they had been noticing trades were becoming easier to engage in the past few months. Along with interest rate reductions helping to limit holding costs for loan repayments, she said now could be an opportune time to consider trying a renovation project. Expert Advice For Flipping Properties – Focus on areas you know with good amenities, schools and transport; – Work out what housing an area is missing, who will buy it and what they will pay; – Calculate a budget based on what buyers are likely to pay; – Aim to be selling a home close to the suburb's median price, to ensure the most potential buyers; – Expect to make mistakes and budget for them; – Consider potentially hidden holding costs including land tax, interest rate repayments and energy bills for the site; – Budget for realistic time lines to complete work; – Don't assume that lots of other people doing a particular type of home flip or development in an area means they are making a profit, check your own numbers; – Look for areas with high street appeal, then look for homes or blocks without easements or issues that could hamper your plans to renovate; – Get good trades around you that are reliable; – Consider higher cost improvements such as updating the facade and even adding a pool, if there is advice it will help boost a sale; – Avoid properties with low-return repairs needed, such as those that require underpinning; – Explore YouTube channels and even social media for advice from qualified builders and trades, not 'reality' TV; – Don't rush into things; – Try engaging with local community property development networking events; Sources: Property Developer Network's Rob Flux, Buyer's advocate Cate Bakos, serial flipper Caitlin Hamston THE BLOCK SUBURBS' TRACK RECORD Daylesford, 2025 (The Block auction to be held November) Median house price 2025 (June): $818,000 Median house price 2024 (June): $890,000 12-month change: -$72,000 (-8.1%) Melbourne average change: -$1106 (-1.3%) Phillip Island, 2024 (November) Median house price 2024: $750,000 Median house price 2023: $785,000 12-month change: -$35,000 (-4.5%) Melbourne average: $0 (0%) Hampton East, 2023 (November) Median house price 2023: $1,437,500 Median house price 2022: $1.55m 12-month change: -$112,500 (-7.3%) Melbourne average: -$30,000 (-3.3%) Gisborne, 2022 (November) Median unit price 2022: $1.2m Median unit price 2021:$935,000 12-month change: $265,000 (28.3%) Melbourne average change: $43,000 (5%) Hampton, 2021 (November) Median unit price 2021: $2.33m Median unit price 2020: $1.903m 12-month change: $430,000 (22.4%) Melbourne average change: $111,000 (14.8%) Brighton, 2020 (November) Median house price 2020: $2.71m Median house price 2019: $2.545m 12-month change: $165,000 (6.5%) Melbourne average change: $26,000 (3.6%) St Kilda, 2019 (November) Median unit price 2019: $528,809 Median unit price 2018: $514,000 12-month change: $14,809 (2.9%) Melbourne average change: -$20,000 (-3.5%) St Kilda, 2018 (October) Median unit price 2018: $525,000 Median unit price 2017: $542,500 12-month change: -$17,500 (-3.2%) Melbourne average change: $21,200 (3.9%) Elsternwick, 2017 (October) Median house price 2017: $1.87m Median house price 2016: $1.605m 12-month change: $265,000 (16.5%) Melbourne average change: $25,000 (4.8%) Port Melbourne, 2016 (November) Median unit price 2016: $643,750 Median unit price 2015: $652,500 12-month change: -$8750 (-1.3%) Melbourne average change: $20,000 (4%) South Yarra, 2015 (November) Median unit price 2015: $590,000 Median unit price 2014: $560,000 12-month change: $30,000 (5.4%) Melbourne average change: $26,500 (5.5%) South Yarra, 2015 (April) Median unit price 2015: $577,800 Median unit price 2014: $552,000 12-month change: $25,800 (4.7%) Melbourne average change: $18,100 (3.9%) Prahran, 2014 (October) Median unit price 2014: $504,000 Median unit price 2013: $522,500 12-month change: -$18,500 (-3.4%) Melbourne average change: $27,000 (6%) Albert Park, 2014 (April) Median unit price 2014: $701,000 Median unit price 2013: $430,000 12-month change: $271,000 (63%) Melbourne average change: $29,627 (6.8%) South Melbourne, 2013 (July) Median unit price 2013: $511,000 Median unit price 2012: $535,000 12-month change: -$24,000 (-4.5%) Melbourne average change: $40,000 (9.2%) Bondi, 2013 (March) Median house price 2013: $1,567,500 Median house price 2012: $1,247,500 12-month change: $320,000 (25%) Sydney average change: $42,000 (7.4%) South Melbourne, 2012 (July) Median house price 2012: $894,500 Median house price 2011: $985,000 12-month change: -$90,500 (-9.2%) Melbourne average change: -$15,000 (-3%) Richmond, 2011 (August) Median house price 2011: $845,000 Median house price 2010: $805,000 12-month change: $40,000 (5%) Melbourne average change: $35,000 (7.6%)
West Australian
2 hours ago
- West Australian
Top End war games visit follows bilateral pact signing
With the ink dry on a 50-year Anglo-Australian submarine agreement, visiting British ministers David Lammy and John Healey are set to join Deputy Prime Minister Richard Marles for some fun and war games in the Top End. Mr Marles and Secretary of State Mr Healey put pen to paper on a bilateral deal said to strengthen ties around the AUKUS nuclear submarine agreement in Geelong on Saturday despite a review of the three-nation pact by the US government. AUKUS, formed with the UK and US in 2021 to address concerns about China's rising military ambition, is designed to enable Australia to acquire nuclear-powered attack submarines in the 2040s. However, concerns over the viability of the $560 billion deal have been ongoing since the Trump administration initiated a review to examine if it meets its "America-first" criteria. In a bid to put the matter to rest, Mr Marles insisted after the Geelong Treaty signing that it built on "the strong foundation of trilateral co-operation between Australia, the UK and the United States" and advanced the shared objectives of AUKUS. "It will support the development of the personnel, workforce, infrastructure and regulatory systems required for Australia's ... AUKUS program" as well as support the rotational presence of a UK Astute-class submarine at HMAS Stirling in Perth , he said . Mr Marles said he remained confident about the future of US involvement in the partnership, as did Mr Healey and Mr Lammy, Britain's Foreign Secretary. Australia will pay $5 billion to support British industry in designing and producing nuclear reactors to power the future AUKUS-class subs. It will also acquire at least three Virginia-class nuclear-powered submarines from the US in the early 2030s. With the formalities done and dusted, Mr Marles, Mr Lammy and Mr Healey are expected to attend Talisman Sabre in Darwin on Sunday. Australia's largest and most sophisticated war-fighting exercise started on July 13 and involves more than 35,000 personnel from 19 militaries across three weeks. In addition to the US, forces from Canada, Fiji, France, Germany, India, Indonesia, Japan, the Netherlands, New Zealand, Norway, Papua New Guinea, the Philippines, the Republic of Korea, Singapore, Thailand, Tonga, and the UK have joined as partners. Malaysia and Vietnam are also attending as observers. The 2025 war games involve the UK's Carrier Strike Group, led by the Royal Navy flagship HMS Prince of Wales - the first UK carrier strike group to visit Australia since 1997.
Perth Now
2 hours ago
- Perth Now
Top End war games visit follows bilateral pact signing
With the ink dry on a 50-year Anglo-Australian submarine agreement, visiting British ministers David Lammy and John Healey are set to join Deputy Prime Minister Richard Marles for some fun and war games in the Top End. Mr Marles and Secretary of State Mr Healey put pen to paper on a bilateral deal said to strengthen ties around the AUKUS nuclear submarine agreement in Geelong on Saturday despite a review of the three-nation pact by the US government. AUKUS, formed with the UK and US in 2021 to address concerns about China's rising military ambition, is designed to enable Australia to acquire nuclear-powered attack submarines in the 2040s. However, concerns over the viability of the $560 billion deal have been ongoing since the Trump administration initiated a review to examine if it meets its "America-first" criteria. In a bid to put the matter to rest, Mr Marles insisted after the Geelong Treaty signing that it built on "the strong foundation of trilateral co-operation between Australia, the UK and the United States" and advanced the shared objectives of AUKUS. "It will support the development of the personnel, workforce, infrastructure and regulatory systems required for Australia's ... AUKUS program" as well as support the rotational presence of a UK Astute-class submarine at HMAS Stirling in Perth , he said . Mr Marles said he remained confident about the future of US involvement in the partnership, as did Mr Healey and Mr Lammy, Britain's Foreign Secretary. Australia will pay $5 billion to support British industry in designing and producing nuclear reactors to power the future AUKUS-class subs. It will also acquire at least three Virginia-class nuclear-powered submarines from the US in the early 2030s. With the formalities done and dusted, Mr Marles, Mr Lammy and Mr Healey are expected to attend Talisman Sabre in Darwin on Sunday. Australia's largest and most sophisticated war-fighting exercise started on July 13 and involves more than 35,000 personnel from 19 militaries across three weeks. In addition to the US, forces from Canada, Fiji, France, Germany, India, Indonesia, Japan, the Netherlands, New Zealand, Norway, Papua New Guinea, the Philippines, the Republic of Korea, Singapore, Thailand, Tonga, and the UK have joined as partners. Malaysia and Vietnam are also attending as observers. The 2025 war games involve the UK's Carrier Strike Group, led by the Royal Navy flagship HMS Prince of Wales - the first UK carrier strike group to visit Australia since 1997.
