Major InterContinental expansion bolsters Salter Brothers' ASX hopes
The company announced plans to rebrand a number of its lower-tier Crowne Plaza Hotels as part of a deal with Salter Brothers, the local fund manager that owns the properties and is preparing to float a $2 billion portfolio of accommodation assets on the ASX within 18 months.
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News.com.au
4 hours ago
- News.com.au
Resources Top 5: Chariot races to the front in new African lithium hot spot
CC9 has gained a majority stake in a Nigerian hard-rock lithium portfolio Aircore drilling results from YRL at the Caladan target demonstrate gold discovery potential DY6 Metals is extending a reconnaissance program at Central Rutile Project in Cameroon Your standout small cap resources stocks for Thursday, July 10, 2025 Chariot Corporation (ASX:CC9) Chariot Corporation raced ahead 40% to 7.7c in morning trade on gaining a majority stake in a Nigerian hard-rock lithium portfolio, a move set to make it a front-runner in a new African lithium hot spot. Although the price eased back to 7c as the trading day progressed, the signs are positive for CC9 with a lithium market revival appearing to be a case of when and not if. Encouragingly, Nigeria's lithium-bearing pegmatites have the same Late Proterozoic (Pan-African) LCT geology as the Borborema Pegmatitic Province (BPP) in northeast Brazil, of similar age to that country's renowned Lithium Valley. As with Brazil, many of Nigeria's pegmatite belts were historically and currently mined for tin and columbite-tantalite and semi-precious gemstones, indicating potential for highly fractionated, lithium-rich LCT pegmatite systems. These factors have seen Nigeria emerge as one of the continent's fastest-growing lithium regions and Chariot's highly prospective hard-rock lithium portfolio covers 254sqkm across Oyo and Kwara states. Lithium-bearing pegmatites have been identified across all four projects - Fonlo, Gbugbu, Iganna and Saki - including up to 6.59% Li2O from rock chip sampling. And pårojects remain undrilled, presenting exploration upside. Chariot Corporation (ASX:CC9) will acquire 66.7% via a joint venture with early-stage Nigerian mining company Continental Lithium - which will hold the remaining 33.3%. The consideration is US$1.5m in cash and 42m shares, plus CC9 will fund a minimum of US$10m for the JV. The move provides exposure to the rapidly developing Africa-China lithium supply corridor with growing interest from Chinese buyers for offtake from Nigerian lithium miners. Looking forward, the company will target along-strike and depth extensions of known pegmatites, as well as new pegmatite discoveries within the licence areas with systematic mapping, trenching and drilling. Chariot has also entered a binding working capital facility agreement with GAM Company Trust for an unsecured loan facility of $880,000 to refinance its convertible note facility with Obsidian Global GP. This strengthens the company's balance sheet and supports its ongoing exploration and operations. Yandal Resources (ASX:YRL) Investors responded strongly to positive aircore drilling results from Yandal Resources at the Caladan target in WA which demonstrate gold discovery potential with a mineralised structure at least 800m long, sending shares as much as 92.31% higher to 17.5c. Caladan results of up to 11m at 2.1 g/t gold from 90m, including 7m at 3.1 g/t from 92m, and 12m at 1.1g/t from 45m, including 2m at 3.2g/t from 45m and 1m at 2.5g/t from 53m, suggest along-strike mineralisation continuity within the Arrakis prospect. Caladan remains open to the southeast and northwest within the broader northwest-trending, 3km-long Arrakis regolith anomaly, part of Ironstone Well-Barwidgee Gold Project, 60km south of the Jundee mining complex and 18km north of the recent Siona discovery, within the Yandal Greenstone Belt. The Caladan aircore program is ongoing with 100 holes for 10,200m of a designed 125 holes for 12,500m now drilled and with completion is expected within the next two weeks. Results for the first 16 holes have been received, with further results from the program expected in the coming weeks and months. 'To intercept mineralisation of this tenure within a first-pass aircore drilling across three consecutive 400m spaced lines is a significant early-stage success, which should not be understated,' YRL managing director Chris Oorschot said. 'We are also observing very similar geology associated with mineralisation across all three lines, suggesting we may be dealing with a single continuous mineralised structure. 'From a targeting perspective, the results add strength to the thesis that the more than 3km-long low-level regolith gold anomaly that defines the Arrakis prospect reflects a primary mineralised structure at depth. 'These results significantly de-risk the Arrakis prospect and broader Caladan target area from a geological perspective. 'The current aircore program is testing the full length of the Arrakis Prospect; there is ample opportunity for further positive results ahead of us as the company continues its pursuit of a large-scale gold discovery within the Yandal Greenstone Belt.' DY6 Metals (ASX:DY6) Buoyed by the success of neighbours Peak Minerals at the adjacent Afanloum licence where high-grade heavy minerals were returned in recent drilling, DY6 Metals (ASX:DY6) has moved to extend a reconnaissance program at Central Rutile Project in Cameroon. Drill teams are being mobilised for rapid execution of a 24-hole hand auger drill program in the Nsimbo and Alamba licences. The objective is to assess the geological continuity and potential extension of mineralisation encountered by Peak on Afanloum, just north of the Nsimbo licence. Results from surface included 7m at 5.1% HM, 7m at 4.5% HM, 4.7m at 5.2% HM and 3m at 6.7% HM. DY6, which believes mineralisation extends onto Nsimbo and Alamba licences, rose as much as 39.13% to a two-year high of 32c. 'Although the next step is to launch a project-wide regional soil sampling campaign (and this is still very much the plan), we have decided to rapidly mobilise field drilling crews to assess the northern portions of Nsimbo and Alamba licences,' technical consultant Cliff Fitzhenry said. Prospech (ASX:PRS) Metallurgical testwork continues on REE samples from Korsnäs project in western Finland as Prospech seeks to strengthen the economic case for extracting strategic light REEs from a stockpile and related sources, including tailings facility and underlying hard-rock resource. Last week the company collected a 500kg sample of mineralised material from the historic Lanthanide Concentrate Stockpile for testwork programs in Finland and Australia. In Finland, tests are part of the EU-funded REMHub consortium and a 200kg sample has been dispatched to Oulu University for characterisation, flotation and REE leaching test work. The balance is being sent to commercial laboratories specialising in REE processing in Australia for parallel studies designed to optimise the extraction and purification pathways. This involves a two-stage bench-scale metallurgical test work campaign on the 300kg bulk sample of LnCS grading about 2.55% TREO. Tests aim to establish a viable processing flowsheet, understand impurity deportment and support the economic case for extracting strategic light rare earths - particularly neodymium, praseodymium and samarium. Lakes Blue Energy (ASX:LKO) After receiving final regulatory approvals to begin drilling at Wombat-5 Well in Gippsland, Victoria, Lakes Blue Energy closed at $1.34, a lift of 48.89% on the previous close. Condor Rig #1 is on schedule for mid-July mobilisation to the Wombat-5 site at Lakes' wholly-owned Wombat Gas Field and preparation works are nearing completion for the July 31, 2025, spud date. Wombat-5 is designed to test gas production from the upper Strzelecki Formation and has independently assessed potential of up to 10 TJ1/day. Lakes holds a combined 2C contingent resource of 719 PJs across Wombat and adjacent Trifon-Gangell fields. Subject to successful drilling, the company believes these fields have the potential to deliver near-term supply into the east coast gas network, significantly easing impending Victorian gas shortages as forecast shortfalls emerge from 2026.
News.com.au
5 hours ago
- News.com.au
Closing Bell: ASX plays it cool in the face of tariff threats
ASX shrugs off tariff pessimism to climb 0.59pc Gains led by gold and banking stocks Major banks join RBA stablecoin project Gold and Banks lead ASX charge Let's see – a 50% tariff on copper, up to 200% on pharmaceuticals, and maybe more to come for semiconductors and aluminium. Just a few weeks ago, those kinds of threats from the President of the United States would have shaken markets to their core, threatening runs on bond markets and driving gold higher. These days, we're all a bit numb to it all. The ASX 200 shot up 0.59% in trade today, closing out a defiant session with 7 of 11 sectors on the up. The materials sector – and especially gold stocks – led the charge, up 1.25% with some heavy support from industrials, real estate and banking stocks. The seven major bankers added 0.81% to their index, a solid performance that was eclipsed by Aussie gold miners surging 2.27%. Commonwealth Bank (ASX:CBA) added 0.82%, Macquarie (ASX:MQG) 0.38%, NAB (ASX:NAB) 1.1%, Westpac (ASX:WBC) 0.5% and ANZ (ASX:ANZ) 0.77%. Stablecoins go mainstream Project Acacia, the federal government's tokenised asset research project, has entered a new phase as three of our major banks join the trial. A joint initiative between the RBA and the Digital Finance Cooperative Research Centre, the project is investigating 24 potential use cases for digital assets, engaging with a range of organisations from fintech firms to the Big 4 banks. The project is experimenting with stablecoins, bank deposit tokens, and a pilot wholesale central bank digital currency (CBDC), as well as new ways of using banks' existing exchange settlement accounts at the RBA. Commonwealth Bank, Westpac and ANZ have now joined the project, supporting the RBA in understanding the potential market infrastructure improvements digital money can offer. 'Ensuring that Australia's payments and monetary arrangements are fit-for-purpose in the digital age is a strategic priority for the RBA and the Payments System Board,' RBA assistant governor Brad Jones said. 'The use cases selected in this project will help us to better understand how innovations in central bank and private digital money, alongside payments infrastructure, might help to uplift the functioning of wholesale financial markets in Australia." ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap YRL Yandal Resources 0.17 87% 967080 $28,140,383 IBX Imagion Biosys Ltd 0.019 52% 1.8E+08 $2,516,768 MOM Moab Minerals Ltd 0.0015 50% 1000000 $1,733,666 OB1 Orbminco Limited 0.0015 50% 500050 $3,402,568 PAB Patrys Limited 0.0015 50% 563709 $2,365,810 SFG Seafarms Group Ltd 0.0015 50% 323496 $4,836,599 LKO Lakes Blue Energy 1.3 44% 575287 $60,087,935 PRS Prospech Limited 0.021 31% 695559 $6,061,214 DY6 Dy6Metalsltd 0.3 30% 7456062 $17,126,375 CC9 Chariot Corporation 0.07 27% 594878 $6,564,457 CCA Change Financial Ltd 0.088 26% 3894658 $48,079,711 MKL Mighty Kingdom Ltd 0.025 25% 1229250 $14,668,746 BUY Bounty Oil & Gas NL 0.0025 25% 450000 $3,122,944 JAY Jayride Group 0.0025 25% 1729847 $2,855,778 MEM Memphasys Ltd 0.005 25% 401240 $7,934,392 MTB Mount Burgess Mining 0.005 25% 1337560 $1,702,553 PKO Peako Limited 0.0025 25% 15333 $2,975,484 VFX Visionflex Group Ltd 0.0025 25% 198851 $6,735,721 SUM Summitminerals 0.056 24% 598590 $3,985,924 APC APC Minerals 0.011 22% 2097313 $2,636,400 EVR Ev Resources Ltd 0.011 22% 11241402 $20,047,530 EXL Elixinol Wellness 0.017 21% 345559 $3,222,680 AAU Antilles Gold Ltd 0.006 20% 422962 $11,895,340 BLU Blue Energy Limited 0.006 20% 132000 $9,254,868 CHM Chimeric Therapeutic 0.006 20% 4015263 $10,075,971 Making news... Yandal Resources (ASX:YRL) has unearthed a spicy 800-metre-long gold strike at the Arrakis prospect, part of the Caladan target and the greater Ironstone Well-Barwidgee gold project. Three holes drilled about 400m apart all hit gold mineralisation with similar characteristics, suggesting it may be one long gold system ripe for the plucking. YRL is currently drill testing the entire 3-kilometre-long Arrakis prospect, with more results due over the coming weeks and months. The news spice must flow, and all that. Imagion Biosystems (ASX:IBX) is a step closer to beginning formal clinical development for its MagSense HER2 breast cancer imaging technology, after a fruitful tête-à-tête with the US FDA. IBX now has a clear path to submit its investigational new drug application for the proprietary imaging agent, a key step in beginning human clinical trials. Moab Minerals (ASX:MOM) is set to raise $141k in a share placement directly with European Lithium (ASX:EUR), on top of a $500k cash loan from EUR. The money – raised at 0.1 cents a share – will go to exploration at the Manyoni uranium project in Tanzania, and toward assessing and acquiring new resource project opportunities. DY6 Metals (ASX:DY6) has extended a reconnaissance drilling program at the Central rutile project in Tanzania, after neighbouring miner Peak Minerals (ASX:PUA) hit high-grade heavy mineral results of 7m at 5.1% HM right next door. Management reckons the mineralisation extends into two of DY6's own tenements, which the company will be hitting with 24 more auger holes than originally planned in a bid to unearth it. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap IS3 I Synergy Group Ltd 0.001 -50% 2291854 $3,207,679 WEL Winchester Energy 0.001 -50% 100000 $2,726,038 AYM Australia United Min 0.002 -33% 980000 $5,527,732 PIL Peppermint Inv Ltd 0.002 -33% 2855294 $6,903,269 AM7 Arcadia Minerals 0.018 -28% 17000 $2,934,586 AOA Ausmon Resorces 0.0015 -25% 143271 $2,622,427 BMO Bastion Minerals 0.0015 -25% 10200000 $2,635,636 RMI Resource Mining Corp 0.014 -22% 2734417 $13,220,160 BIT Biotron Limited 0.002 -20% 155989 $3,318,115 RLG Roolife Group Ltd 0.004 -20% 40000 $7,963,906 ADD Adavale Resource Ltd 0.025 -19% 1175849 $3,545,269 PFE Pantera Lithium 0.0195 -19% 24932267 $11,370,809 VML Vital Metals Limited 0.09 -18% 255277 $12,968,919 ADR Adherium Ltd 0.005 -17% 140090 $8,321,749 ECT Env Clean Tech Ltd. 0.0025 -17% 12361 $12,046,306 PRM Prominence Energy 0.0025 -17% 195000 $1,459,411 RCM Rapid Critical 0.0025 -17% 2350000 $4,247,334 SHE Stonehorse Energy Lt 0.005 -17% 400000 $4,106,610 TEM Tempest Minerals 0.005 -17% 392454 $6,610,770 TSL Titanium Sands Ltd 0.005 -17% 408016 $14,068,483 CPO Culpeominerals 0.012 -14% 10079972 $3,800,339 GTR Gti Energy Ltd 0.003 -14% 2838000 $10,496,324 LU7 Lithium Universe Ltd 0.006 -14% 1195485 $6,551,857 OLY Olympio Metals Ltd 0.12 -14% 447575 $14,429,422 RNX Renegade Exploration 0.003 -14% 2000000 $4,509,272 IN CASE YOU MISSED IT Ausgold (ASX:AUC) is accelerating along a path to a final investment decision on its 3Moz Katanning gold project in WA after raising $35 million in a placement to sophisticated and professional investors. Buxton Resources (ASX:BUX) welcomes news that anode manufacturer BTR has qualified ore from its Graphite Bull project in WA, marking it compatible to customer requirements. Power Minerals (ASX:PNN) has hit strong niobium and rare earths mineralisation in the first drill hole at the Santa Ann project in Brazil. Belararox (ASX:BRX) is making its biggest strides yet in Botswana's exciting Kalahari copper belt, lining up four priority targets for drilling in August this year. Brightstar Resources (ASX:BTR) is drilling the Yunndaga deposit to support a fast-tracked development strategy for its Menzies gold hub. In a boost to its exploration efforts, Elevate Uranium (ASX:EL8) has received a $112,000 grant from the NT government to co-fund drilling at the Angela project. Miramar Resources (ASX:M2R) is powering ahead with drilling at the 8 Mile target, part of the Gidji JV project right next door to Northern Star's (ASX:NST) Kalgoorlie operations. Renascor Resources (ASX:RNU) has inked a three-year with a local farming operator to secure an accommodation site for the Siviour graphite mine in South Australia. Break it Down: Orthocell (ASX:OCC) have received first US revenue from Remplir after gaining FDA approval for the device in April. TRADING HALTS At Stockhead, we tell it like it is. While Imagion Biosystems, European Lithium and DY6 Metals are Stockhead advertisers, they did not sponsor this article.
Sydney Morning Herald
6 hours ago
- Sydney Morning Herald
The Australian pharma giant on Trump's tariff hit list
Australian pharmaceutical giant CSL is on tariff watch after US President Donald Trump threatened to slug pharmaceutical imports into the US with a 200 per cent impost, two months after asking the US government to carefully consider the consequences of the measure. CSL is an $117 billion ASX giant and the nation's biggest player in pharmaceuticals, a sector responsible for about $2.2 billion in exports to the US. While CSL is exposed to the hefty tariffs proposed by the Trump administration, analysts said the company was insured by its large overseas operations, including its facilities in the US, and the critical nature of the medicines it makes. Founded in 1916 as a vaccine manufacturer for the Australian government, CSL makes vaccines (including COVID-19 vaccines), antivenom, and plasma-derived medicines. It still makes products in Australia and exports them, with Morningstar analyst Shane Ponraj saying on Thursday that while there are other healthcare stocks on the Australian sharemarket, the Trump tariffs 'will only directly affect CSL.' However despite the risk, Ponraj said that CSL's ability to adjust its supply chain, shifting its reliance onto its US facilities, should allow the company to weather the storm if the US government follows through on the tariff threat. 'CSL processes some US products in Australia but has many facilities in the US and some flexibility to adjust supply chains,' Ponraj said. 'While increasing uncertainty near-term, we don't expect CSL's earnings are materially affected because tariffs this high are unlikely to persist, and CSL can adopt by onshoring manufacturing.' In May, in response to the US government's request for public comments on its investigation into pharmaceutical imports, CSL submitted a seven-page letter opposing the introduction of tariffs. 'Broadly imposing tariffs on the pharmaceutical sector would disrupt and limit US patients' access to therapies, increase costs for patients and the healthcare system, raise manufacturing costs, and limit company resources that are available for biomedical innovation, capital investments, and jobs in the US,' it read.
