Source: David Gray/Reuters
The ASX is expected to fall today as the enhanced possibility of further rate rises weigh on the minds of investors.
Yesterday, the RBA released the minutes from its May monetary policy meeting, suggesting more rate increases could happen down the track.
Legend Mining (LEG) has kicked off diamond drilling at the Octagonal prospect within its Rockford project in Western Australia.
Drilling commenced at Target B, testing a seismic feature interpreted as intrusion, associated with a conductive 2D AMT feature at depth.
Following this, Legend Mining will drill at Target Area A, focusing on the interpreted extension of the octagonal intrusion based on seismic interpretation.
Shares in LEG last traded at 4.6 cents.
Peter Warren Automotive (PWR) has entered an agreement to acquire three dealerships across New South Wales.
PWR will fork out $45 million, funded by existing debt providers, to acquire a Toyota dealership at Warwick Farm, plus a Toyota and Volkswagen dealership at Bathurst.
“We are delighted to continue the delivery of our consolidation strategy with an investment in Australia’s market leader, Toyota,” PWR CEO Peter Warren said.
“This milestone provides opportunity for further expansion as we continue to grow in a highly fragmented market.”
Shares in PWR last traded at $2.53.
Voltaic Strategic Resources (VSR) has confirmed the presence of a significant rare earths system at the Neo prospect, located within its Paddy’s Well project in Western Australia.
Assays from the first two reverse blade drill holes at Neo revealed multiple, thick zones of rare earth element mineralisation in clay from surface.
Grades of up to 10,072 parts per million TREO were uncovered through drilling.
Shares in VSR last traded at 5 cents.
Meanwhile, Urbanise (UBN) has completed a $3.5 million placement, with strong support from new and existing shareholders.
The placement included the issue of seven million new shares at 50 cents apiece, through two tranches.
Urbanise announced the proceeds would go toward accelerating the delivery of Strata and facilities management platforms to expand its customer base in the Asia Pacific and the Middle East.
Shares in UBN last traded at 55 cents.
Atlas Pearls (ATP) has reported strong year-to-date sales on the back of continued strong global demand for South Sea Pearls.
Additionally, ATP has appointed a new independent non-executive director, Jose Martins, who will join the board immediately.
The company has also replaced its outgoing Chief Financial Officer, with Gemma Cann appointed as ATP’s newest CFO.
Shares in ATP last traded at 3.6 cents.