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Business Wire
5 hours ago
- Business
- Business Wire
MAC Copper Limited Provides Update on Recommended Transaction with Harmony
ST. HELIER, Jersey--(BUSINESS WIRE)--MAC Copper Limited ARBN 671 963 198 (NYSE:MTAL; ASX:MAC) MAC Copper Limited (NYSE:MTAL, ASX:MAC) (' MAC ' or the ' Company ') is pleased to provide the following update on the proposed acquisition of 100% of the issued share capital in MAC by Harmony Gold (Australia) Pty Ltd (a wholly owned subsidiary of Harmony Gold Mining Company Limited (JSE:HAR, NYSE:HMY)) (' Harmony ') by way of a Jersey law scheme of arrangement pursuant to Article 125 of the Companies (Jersey) Law 1991 (as amended) (' Scheme ') (the ' Transaction '). Capitalised terms used in this announcement have the meaning given to them in the Implementation Deed released to ASX and NYSE on 27 May 2025, unless the context otherwise requires. Directions hearing and indicative timetable MAC is pleased to advise that the First Court Hearing is scheduled for 10:00 a.m. (Jersey time) on 30 July 2025. The purpose of the First Court Hearing is to obtain an order from the Court to, among other things, dispatch the Scheme Circular and convene the Scheme Meeting and General Meeting. Following the conclusion of the First Court Hearing, MAC will release an announcement setting out the outcome of the hearing to be released on the ASX and furnished to the SEC. Subject to obtaining the order from the Court at the First Court Hearing, MAC anticipates the indicative timetable for the next steps of the Transaction to be as follows: Notes: All dates and times are based on MAC and Harmony's current expectations and are subject to change. If any of the dates and/or times in this expected timetable change materially, the revised dates and/or times will be published by a public announcement furnished to the SEC and released to the ASX and by making such announcement available on MAC's website at Individuals that become MAC Shareholders (or MAC CDI Holders) after this date will not be entitled to vote (or in the case of MAC CDI Holders, will not be entitled to instruct CHESS Depositary Nominees Pty Ltd to vote) at the Scheme Meeting and General Meeting. Further detail and information on the Transaction will be set out in the dispatched Scheme Circular. Status of conditions The Transaction is conditional, among other things, on MAC obtaining from each counterparty to the Silver Stream, the Copper Stream, the Royalty Deed and the Intercreditor Deed all necessary consents, approvals, amendments, exemptions or waivers in respect of the Transaction (in a form and subject to such conditions which are satisfactory to Harmony (acting reasonably) (the Consents Condition). MAC and Harmony have agreed that the Consents Condition will be taken to be satisfied when: various restructuring documents with Harmony, OR Royalties Limited (formerly Osisko Bermuda Limited) (OR Royalties) (in relation to the Copper Stream and the Silver Stream) and Glencore (in relation to the Royalty Deed) (the Restructuring Documents) have been executed by each of the parties to those documents; and certain specified conditions precedent to one of the Restructuring Documents, being a restructure deed between MAC, Harmony, OR Royalties, CSA Jersey Limited (a newly incorporated wholly-owned subsidiary of MAC), MAC Australia and CMPL, are satisfied or waived by OR Royalties (the Streams Restructure Deed). MAC is pleased to announce that it has entered into the Restructuring Documents with Harmony, OR Royalties and Glencore (as applicable) pursuant to which the parties have agreed to amend various documents in connection with the Copper Stream, the Silver Stream and the Royalty Deed, with such amendments to take effect after the Scheme has been implemented. Following the execution of the Restructuring Documents, the only steps required to satisfy the Consents Condition, are for the specified conditions precedent to the Streams Restructure Deed to be satisfied or waived. These conditions include: the delivery of customary certificates, legal opinions and other ancillary documents to OR Royalties; no event of default or trigger event occurring under the Silver Stream or Copper Stream before the date that is two Business Days before the Court Sanction Hearing; and the form of the deed of release in respect of the Senior Debt being agreed by all parties to that deed, Harmony and OR Royalties. In relation to the regulatory approvals required in connection with the Transaction, Harmony (with the assistance of MAC) has submitted applications to the Australian Foreign Investment Review Board (on behalf of the Australian Federal Treasurer) and the South African Reserve Bank to obtain the requisite regulatory approvals. Unanimous Board Recommendation The MAC board continues to unanimously recommend that MAC shareholders vote in favour of the Scheme, in the absence of a Superior Proposal (as defined in the Implementation Deed). Each of MAC's directors (who together hold or control 2.4% of MAC's total current fully paid ordinary shares and CDIs on issue) also intend to vote their MAC shares in favour of the Scheme, subject to the same qualification. – Ends – This announcement has been authorised for release by Mick McMullen, CEO and Director. About MAC Copper Limited MAC Copper Limited (NYSE:MTAL; ASX:MAC) is a company focused on operating and acquiring metals and mining businesses in high quality, stable jurisdictions that are critical in the electrification and decarbonization of the global economy. Important Notices and Disclaimers Important Notices This announcement has been prepared in relation to the proposed acquisition by Harmony of 100% of the issued share capital in MAC by way of a Jersey law scheme of arrangement pursuant to Article 125 of the Companies (Jersey) Law 1991. The release, publication or distribution of this announcement in jurisdictions other than Australia, the United States, Jersey and the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than Australia, the United States, Jersey and the United Kingdom should inform themselves about, and observe, any applicable legal or regulatory requirements. In particular, the ability of persons who are not resident in Australia, the United States, Jersey and the United Kingdom or who are subject to the laws of another jurisdiction to vote their MAC Shares in respect of the Scheme, or to execute and deliver forms of proxy appointing another to vote on their behalf, may be affected by the laws of the relevant jurisdictions in which they are located or to which they are subject. Any failure to comply with applicable legal or regulatory requirements of any jurisdiction may constitute a violation of securities laws in that jurisdiction. To the fullest extent permitted by law, the companies and persons involved in the Transaction disclaim any responsibility or liability for the violation of such restrictions by any person. Copies of this announcement and any formal documentation relating to the Transaction are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in or into or from any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in or into or from any such jurisdiction. Doing so may render invalid any related purported vote in respect of the Transaction. If the Scheme is implemented, Harmony would acquire 100% of the issued share capital in MAC in exchange for the Scheme consideration, subject to the terms and conditions described in the Implementation Deed entered into on 27 May 2025. A copy of the Implementation Deed is available on the ASX website (at and the MAC website (at A Scheme Circular containing further important information related to the Scheme will also be sent to MAC shareholders. As the Scheme will be governed by Jersey law, the Transaction will not be subject to the Corporation Act 2001 (Cth) (subject to receipt of relevant consents, waivers, relief or approvals from ASIC) or the oversight of ASIC or the Australian Takeovers Panel. Disclaimer No person other than MAC has authorised or caused the issue, release, submission, distribution or provision of this announcement, or takes any responsibility for, or makes or purports to make, any statements, representations or undertakings in this announcement. MAC, to the maximum extent permitted by law, expressly exclude and disclaim all liability (including, without limitation, any liability arising out of fault or negligence on the part of any person) for any direct, indirect, consequential or contingent loss or damage, or for any costs or expenses, arising from the use of this announcement or its contents or otherwise arising in connection with it or the Scheme. MAC does not make any representation or warranties (express or implied) to you about the Scheme or about the currency, accuracy, reliability or completeness of the information, opinions and conclusions in this announcement (including, without limitation, any financial information, any estimates or projections and any other financial information). Forward Looking Statements This release includes 'forward-looking statements.' The forward-looking information is based on the Company's expectations, estimates, projections and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of copper, continuing commercial production at the CSA Copper Mine without any major disruption, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. MAC's actual results may differ from expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may,' 'will,' 'could,' 'should,' 'believes,' 'predicts,' 'potential,' 'continue,' and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward- looking statements. These forward-looking statements include, without limitation, MAC's expectations with respect to future performance of the CSA Copper Mine. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside MAC's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) the completion of the Transaction on anticipated terms and timing, including obtaining required shareholder and regulatory approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) the ability of Harmony or its affiliates to obtain the necessary financing arrangements; (iii) potential litigation relating to the Transaction that could be instituted against MAC, Harmony or their respective directors, managers or officers, including the effects of any outcomes related thereto; (iv) the risk that disruptions from the Transaction will harm MAC's business, including current plans and operations; (v) the ability of MAC to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vii) continued availability of capital and financing and rating agency actions; (viii) legislative, regulatory and economic developments affecting MAC's business; (ix) general economic and market developments and conditions; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the Transaction that could affect MAC's financial performance; (xi) certain restrictions during the pendency of the Transaction that may impact MAC's ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as MAC's response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction, including in circumstances requiring MAC to pay a break fee or other expenses; (xvi) competitive responses to the Transaction; (xvii) the risks and uncertainties pertaining to MAC's business, including those set forth in Part 1, Item 3(D) of the Company's most recent Annual Report on Form 20-F, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by MAC with the SEC; (xviii) the supply and demand for copper; (xix) the future price of copper; (xx) the timing and amount of estimated future production, costs of production, capital expenditures and requirements for additional capital; (xxi) cash flow provided by operating activities; (xxii) unanticipated reclamation expenses; (xxiii) claims and limitations on insurance coverage; (xxiv) the uncertainty in mineral resource estimates; (xxv) the uncertainty in geological, metallurgical and geotechnical studies and opinions; (xxvi) infrastructure risks; and (xxvii) other risks and uncertainties indicated from time to time in MAC's other filings with the SEC and the ASX. MAC cautions that the foregoing list of factors is not exclusive. MAC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. MAC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based. More information on potential factors that could affect MAC's or CSA Copper Mine's financial results is included from time to time in MAC's public reports filed with the SEC and the ASX. If any of these risks materialize or MAC's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that MAC does not presently know, or that MAC currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect MAC's expectations, plans or forecasts of future events and views as of the date of this communication. MAC anticipates that subsequent events and developments will cause its assessments to change. However, while MAC may elect to update these forward-looking statements at some point in the future, MAC specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing MAC's assessment as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements. Not an offer of securities This announcement is for informational purposes only and is not intended to and does not constitute or form part of, an offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities or the solicitation of any vote or approval in any jurisdiction in the contravention of application law.
Time Business News
5 hours ago
- Business
- Time Business News
Why Scalare Partners' Tank Stream Labs acquisition signals a new era for retail technology investors
By Jeremy Liddle, Managing Director of Third Hemisphere, a full service marketing, PR, and public affairs agency with offices in Sydney, Melbourne, Singapore, HK, the US, EU, and UK. How Australia's first ASX-listed tech accelerator is democratising access to startup investing. The $5.5 million acquisition of Tank Stream Labs by Scalare Partners (ASX:SCP) isn't just another corporate deal, it's potentially a game-changer for how everyday investors can finally get a piece of Australia's startup action. I've spent years analysing the intersection of technology investment and public markets, and frankly, it's been frustrating. While Australia's startup ecosystem has been booming, many retail investors have been locked out of the party. Until now. What makes Scalare Partners interesting isn't just that they're Australia's first ASX-listed tech accelerator – it's that they're solving a real problem. Most venture capital funds demand minimum investments of $250,000 or more, then lock up your money for a decade. Scalare allows retail investors to buy shares and gain exposure to a diversified technology startup portfolio. The Tank Stream Labs deal shows how smart this approach really is. Scalare isn't just buying seven co-working spaces across Australia's major tech hubs, they're buying their way into the conversations where tomorrow's unicorns are born. That kind of deal flow access makes even well-funded VC firms jealous, especially when 73% of Australian startup activity occurs across Sydney, Melbourne, and Adelaide according to Startup Genome data. Here's the uncomfortable truth: the venture capital industry has been an exclusive club. You need accredited or wholesale investor status, serious money, and the patience of a saint. For regular investors wanting exposure to the next Canva? Tough luck. This is particularly galling when you consider that venture capital investment in Australia hit $3.6 billion in 2024 as per AVCAL data. That's a lot of wealth creation happening behind closed doors. Tank Stream's seven locations house over 200 tech companies, amounting to a startup pipeline that money can't usually buy. But here's the kicker – Tank Steam Labs achieved FY2024 revenue of $9.7 million, with an estimated forecast of $12.1 million in FY2025, providing Scalare diversified income streams. They're not just betting on home runs; they're building a business that works even when some startups strike out. The numbers that actually matter Scalare has delivered 198% investment returns since 2020. To put that in perspective, traditional VC funds typically target 10-15% annual returns according to Australian Investment Council data. Scalare's services revenue jumped 115% to $1.3 million in the first half of 2024, showing this model truly scales. But here's what really sets them apart: liquidity. Unlike traditional VC investments where your money disappears for years, you can trade Scalare shares on the ASX anytime. Try doing that with your mate's startup. The Tank Stream acquisition adds operational leverage while expanding their reach across three major Australian cities. With early-stage deal flow hitting record levels in 2024 – 624 deals worth $1.8 billion – being embedded in the ecosystem matters more than ever. Perfect timing Australia's startup scene is having a moment. Government support is flowing, corporates are venturing, and international money is pouring in. But the pathways for regular investors to participate? Still terrible. Scalare's integrated approach—combining workspace, mentorship, investment, and professional services—creates advantages that pure-play VCs struggle to match. When you own the infrastructure where entrepreneurs work and learn, you see opportunities before anyone else does. The Australian Computer Society's 2024 Digital Pulse report highlighted a critical market gap in comprehensive startup support services. Scalare isn't just filling that gap – they're monetising it. A new way to invest in innovation The Tank Stream acquisition positions Scalare as something genuinely new in Australian markets. They're not just another investment vehicle – they're creating an entirely new asset class that combines startup growth potential with public market accessibility. For investors frustrated by the ASX's traditional focus on mining and banking, Scalare offers exposure to the innovation economy through a professionally managed, transparent structure. You get the upside of startup investing without the usual barriers, lock-ups, or minimum investment requirements.I've watched countless promising startups struggle to access both capital and support. Scalare Partners' model feels like it could be the future – not just for Australia, but as a template other markets might follow. The question isn't whether this approach will work. It's whether other countries or companies will be smart enough to copy it. Investment considerations: Potential investors should review Scalare Partners' latest financial reports and consider their risk tolerance before investing. Past performance does not guarantee future results. TIME BUSINESS NEWS
Yahoo
7 hours ago
- Business
- Yahoo
Global Penny Stocks To Watch In July 2025
As global markets continue to navigate a landscape of mixed economic signals, the S&P 500 and Nasdaq Composite have reached new highs, buoyed by robust corporate earnings. Amid this backdrop, the term 'penny stocks' may seem outdated, yet these low-priced shares still hold significant potential for growth. Typically representing smaller or emerging companies, penny stocks can offer attractive opportunities when backed by strong financials and solid fundamentals. Top 10 Penny Stocks Globally Name Share Price Market Cap Financial Health Rating EZZ Life Science Holdings (ASX:EZZ) A$2.09 A$101.42M ★★★★★★ Lever Style (SEHK:1346) HK$1.41 HK$889.64M ★★★★★★ Angler Gaming (NGM:ANGL) SEK3.60 SEK269.95M ★★★★★★ CNMC Goldmine Holdings (Catalist:5TP) SGD0.455 SGD184.41M ★★★★★☆ Van Elle Holdings (AIM:VANL) £0.396 £42.74M ★★★★★★ Yangzijiang Shipbuilding (Holdings) (SGX:BS6) SGD2.45 SGD9.64B ★★★★★☆ DXN Holdings Bhd (KLSE:DXN) MYR0.505 MYR2.51B ★★★★★★ Zetrix AI Berhad (KLSE:ZETRIX) MYR0.935 MYR7.2B ★★★★★☆ Begbies Traynor Group (AIM:BEG) £1.255 £198.36M ★★★★★★ Netgem (ENXTPA:ALNTG) €0.986 €32.91M ★★★★★★ Click here to see the full list of 3,816 stocks from our Global Penny Stocks screener. Let's explore several standout options from the results in the screener. Bona Film Group Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Bona Film Group Co., Ltd. is involved in film production and distribution in China, with a market cap of CN¥6.53 billion. Operations: Bona Film Group Co., Ltd. does not report specific revenue segments. Market Cap: CN¥6.53B Bona Film Group, with a market cap of CN¥6.53 billion, is currently unprofitable and not expected to achieve profitability in the next three years. The company's net debt to equity ratio is high at 44.3%, and its return on equity is negative at -42.57%. Despite these challenges, Bona's short-term assets exceed both its short-term and long-term liabilities, offering some financial stability. Revenue is forecasted to grow significantly by 29.78% annually, though past losses have increased substantially over five years. Recent earnings showed a net loss of CN¥955.17 million for Q1 2025 despite increased revenue compared to the previous year. Unlock comprehensive insights into our analysis of Bona Film Group stock in this financial health report. Understand Bona Film Group's earnings outlook by examining our growth report. Yotrio Group Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Yotrio Group Co., Ltd. is engaged in the research, development, manufacturing, and sale of outdoor furniture products across China and various international markets, with a market cap of CN¥8.11 billion. Operations: No specific revenue segments are reported for Yotrio Group. Market Cap: CN¥8.11B Yotrio Group, with a market cap of CN¥8.11 billion, has shown profitability in recent periods despite previous earnings declines. Its short-term assets of CN¥5.9 billion comfortably cover both its short-term and long-term liabilities, indicating solid liquidity management. The company reported Q1 2025 revenue of CN¥2.54 billion and net income of CN¥371.57 million, reflecting growth from the previous year. While its price-to-earnings ratio is relatively low at 14.2x compared to the broader market, a significant one-off gain impacted recent results, and dividend stability remains uncertain due to an unstable track record. Take a closer look at Yotrio Group's potential here in our financial health report. Explore historical data to track Yotrio Group's performance over time in our past results report. Era Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Era Co., Ltd. engages in the research, development, production, and sale of plastic pipe products in China with a market cap of CN¥5.28 billion. Operations: The company generates revenue primarily from its manufacturing industry segment, which accounts for CN¥6.19 billion. Market Cap: CN¥5.28B Era Co., Ltd., with a market cap of CN¥5.28 billion, has experienced a challenging financial period, reporting a net loss of CN¥38.34 million for Q1 2025 compared to net income the previous year. Despite negative earnings growth and declining profit margins from 4.2% to 2.1%, the company maintains strong liquidity with short-term assets exceeding liabilities and reduced debt-to-equity ratio over five years. The management team is seasoned, yet operating cash flow remains negative, impacting debt coverage and dividend sustainability at 1.14%. Forecasts suggest potential earnings growth of 23.46% annually despite current challenges in profitability and revenue generation. Click here to discover the nuances of Era with our detailed analytical financial health report. Review our growth performance report to gain insights into Era's future. Where To Now? Discover the full array of 3,816 Global Penny Stocks right here. Ready To Venture Into Other Investment Styles? Outshine the giants: these 19 early-stage AI stocks could fund your retirement. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SZSE:001330 SZSE:002489 and SZSE:002641. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data
News.com.au
9 hours ago
- Business
- News.com.au
Closing Bell: Resource stocks win ASX tug of war as market ends flat
Iron ore surges to four-month highs at US$104/tonne Gold lifts 1.4pc to five-week high Banks mostly lower as profit taking continues Resource gains outweigh bank sell down It was a veritable tug of war on the ASX today as surging resources stocks went to war with floundering banking shares and managed to snatch victory right at the last second. The ASX lifted just 9 points or 0.1%, struggling into positive territory in the last ten minutes of trade. The sell down in major banking stocks continued throughout the day, undercutting the resource sector's momentum. Commonwealth Bank (ASX:CBA) was hit hard, down another 3%. NAB (ASX:NAB) also took a sizeable whack, shedding 2.69% while the rest of the top 7 fell between 1.27% and 0.34%. The exceptions were Macquarie (ASX:MQG) which added 0.23%, and QBE (ASX:QBE), which tipped up 0.22%. Iron ore and gold were the champions of the materials sector and the greater market today, clawing higher on rising commodity prices despite a day of choppy trading that trended mostly negative. Healthcare also put in an excellent showing, with several mid and small cap stocks climbing. Botanix Pharmaceuticals (ASX:BOT) jumped 9.6% and Clarity Pharmaceuticals (ASX:CU6) 7%. Still, it was iron and gold miners that topped the gainers lists today. More on the iron gang in a second. Pantoro Gold (ASX:PNR) jumped 12%, West African Resources (ASX:WAF) 8% and Ramelius Resources (ASX:RMS) 7.9%. Is the iron ore rally sustainable? Iron ore prices shot up to four-month highs overnight, hurdling the US$100 per tonne mark to sit at US$104.1 presently. News of a new megaproject out of China was the core driver of the push higher – Beijing intends to invest 1.2 trillion yuan ($260 billion) in a hydropower dam on the Tibetan Plateau. Iron ore miners are chomping at the bit to get a piece of the action. BHP (ASX:BHP) jumped 2.3%, Fortescue (ASX:FMG) 3%, and Rio Tinto (ASX:RIO) 3.3%. Unfortunately, analysts are warning iron ore's latest bullish run doesn't reflect market fundamentals. Market moguls at Citigroup and UBS reckon the iron market is trending toward oversupply. Rio Tinto's Simandour project is set to ramp up production to 48 million tonnes of iron ore per year by 2028, accounting for about 5% of global supply all on its lonesome. UBS reckons the iron ore market will be in surplus by 100 million tonnes by 2027 at current rates. "The sustainability of current prices depends largely on whether China's promised policy support materialises in the form of actual construction activity and steel demand," Westpac (ASX:WBC) acting chief sustainability officer and commodities strategist Michael Chen said. "Without concrete demand increases, the fundamental case for $100+ iron ore becomes difficult to justify." ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap IS3 I Synergy Group Ltd 0.012 300% 7074192 $5,118,900 PAB Patrys Limited 0.002 100% 1540555 $2,365,810 VR8 Vanadium Resources 0.041 78% 42838618 $12,978,713 MPA Mad Paws 0.13 73% 36137123 $30,468,169 CUL Cullen Resources 0.006 50% 247093 $2,773,607 AS2 Askarimetalslimited 0.016 45% 19518384 $4,445,878 LMG Latrobe Magnesium 0.016 45% 17547486 $28,892,490 ALR Altairminerals 0.004 33% 15049123 $12,890,233 FAU First Au Ltd 0.004 33% 1206788 $6,228,874 SHP South Harz Potash 0.004 33% 56178 $3,849,186 KGD Kula Gold Limited 0.009 29% 16412263 $6,448,776 BIT Biotron Limited 0.0025 25% 619581 $2,654,492 FHS Freehill Mining Ltd. 0.005 25% 50000 $13,655,414 MMR Mec Resources 0.005 25% 155000 $7,399,063 TMK TMK Energy Limited 0.0025 25% 11279067 $20,444,766 GLL Galilee Energy Ltd 0.011 22% 2306250 $6,364,736 AAU Antilles Gold Ltd 0.006 20% 2098629 $11,895,340 AOK Australian Oil. 0.003 20% 473088 $2,594,457 AON Apollo Minerals Ltd 0.006 20% 12688298 $4,642,284 OLI Oliver'S Real Food 0.006 20% 83366 $2,703,660 PRM Prominence Energy 0.003 20% 200000 $1,216,176 SLZ Sultan Resources Ltd 0.006 20% 1443673 $1,157,350 TFL Tasfoods Ltd 0.006 20% 334313 $2,185,478 NTI Neurotech Intl 0.025 19% 3221353 $22,042,060 WMG Western Mines 0.285 19% 297333 $23,229,203 In the news… The ASX has hit the emergency breaks on iSynergy Group (ASX:IS3), slapping the marketing platform with a 'Please explain' and a trading halt after the company's shares surged 300% intraday. Management says it's working on a response to the ASX's query and expects to be out of suspension by Thursday, but no other details were forthcoming. Vanadium Resources (ASX:VR8) has locked in a two-year DSO offtake deal with China Precious Asia Limited for vanadium-rich magnetite, agreeing to supply 100,000 metric tonnes of direct shipping ore per month. The deal hinges on two things; the official start of mining operations at the Steelpoortdrift vanadium project and the two parties finalising pricing terms by the end of August. Mad Paws (ASX:MPA) has entered a scheme implementation deed, agreeing to be acquired by Rover Group, Inc at $0.14 per share. The deal values Mad Paws at about $62m. Separately, MPA is offloading its online e-commerce division under the Pet Chemist brand for about $13m in cash consideration. Digital content provider Streamplay Studio (ASX:SP8) is climbing on some solid quarterly results that saw the gaming company achieve a cash flow positive quarter, operating on a surplus of $390k. SP8 cashed customer receipts totalling $1.44m, maintaining cash reserves of $7.7m despite investments in its game development studio Noodlecake Studios, the studio behind mobile games Super Flappy Golf and Sacre Bleu. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap AUH Austchina Holdings 0.001 -50% 37338 $6,050,767 MIOR Macarthur Minerals 0.002 -33% 16728 $299,498 PFM Platformo Ltd 0.055 -29% 33012 $7,307,939 GTR Gti Energy Ltd 0.003 -25% 9682499 $14,835,762 PKO Peako Limited 0.002 -20% 4801244 $3,719,355 PRX Prodigy Gold NL 0.002 -20% 28500 $15,875,278 RLG Roolife Group Ltd 0.004 -20% 4598095 $7,963,906 BEL Bentley Capital Ltd 0.009 -18% 5658 $837,407 SFM Santa Fe Minerals 0.285 -17% 115914 $25,122,482 ALY Alchemy Resource Ltd 0.005 -17% 307081 $7,068,458 AMS Atomos 0.005 -17% 179652 $7,290,111 SIS Simble Solutions 0.005 -17% 525549 $6,493,982 SKK Stakk Limited 0.005 -17% 548791 $12,450,478 UNT Unith Ltd 0.005 -17% 8994656 $8,872,713 TOU Tlou Energy Ltd 0.021 -16% 25000 $32,464,608 LOC Locatetechnologies 0.11 -15% 1468361 $30,572,664 ANR Anatara Ls Ltd 0.006 -14% 14000 $1,493,686 BLU Blue Energy Limited 0.006 -14% 1053411 $12,956,815 BYH Bryah Resources Ltd 0.006 -14% 7203753 $6,789,675 CMO Cosmometalslimited 0.019 -14% 209990 $7,086,984 NWM Norwest Minerals 0.013 -13% 25694 $14,525,378 FXG Felix Gold Limited 0.17 -13% 1812100 $85,582,148 ATS Australis Oil & Gas 0.007 -13% 110000 $10,544,500 NAE New Age Exploration 0.0035 -13% 617716 $10,823,646 WEC White Energy Company 0.035 -13% 94 $12,464,796 IN CASE YOU MISSED IT Legacy Minerals (ASX:LGM) has kicked off a 10,000m diamond drilling campaign at its Fontenoy platinum group elements and copper-gold project in NSW. Trading Halts American Rare Earths (ASX:ARR) – cap raise I Synergy Group (ASX:IS3) – ASX price query Octava Minerals (ASX:OCT) – cap raise Sun Silver (ASX:SS1) – cap raise West Coast Silver (ASX:WCE) – cap raise
Herald Sun
10 hours ago
- Business
- Herald Sun
Break it Down: QMines
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Stockhead's Break it Down brings you today's leading market news in under 90 seconds. In this episode, host Tylah Tully looks at the latest from QMines (ASX:QML), who have increased the economic potential of a multi-metallic Central Queensland processing hub after positive open pit optimisation results from its recently acquired Mount Mackenzie project. Watch the video to learn more. While QMines is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: QMines scales up Mt Mackenzie gold-silver
