AFL was back with a numbing draw, The Aussie dollar this morning is buying 68.2 US cents and markets are expected to be lower on early trade.
- Lithium Australia is progressing towards a patent grant for a revolutionary extraction technology for recovering lithium from fine and variable-grade spodumene. LieNA® can recover lithium from the fine and variable grade spodumene that may otherwise report to waste or tailings streams during current concentration processes Lithium Australia MD Adrian Griffin “Recovering material that would otherwise go to waste is a fundamental building block in Lithium Australia’s quest to enhance sustainability, reduce costs and negate environmental impacts throughout the ASX Announcement, Li chemicals Page 3 battery production cycle. If we as a society want to maintain current living standards, we cannot afford to squander resources and need to minimise out environmental footprint. Commercialisation of LieNA® will take the lithium industry one step closer to achieving that goal.”
- Beacon Minerals has given a Production update for May, with 2,246oz produced. Stage three drilling at the Panther tenement was completed on June 1. Results of which are being reviewed and an announcement made when results are known. 20 holes were RC drilled for a total of 1308m. Managing Director Graham McGarry also let the market know there was an extended trial during this period on low grade silcrete. “The mine and mill are in “steady state” operations with record tonnage processed during the month of May. Further production increases are possible as site management eliminate minor bottlenecks. The month of May featured an extended trial on low grade silcrete stockpiles totalling 8,700 dmt at a head grade of 1.05 gpt (current stockpile assigned grade is 0.93gpt). A long‐term tailings strategy has been developed in conjunction with our external consultants. Sterilisation drilling of the proposed IWL area and the necessary approval processes have commenced.”
- There has been several changes to the ASX as part of the quarterly rebalance. Into the S&P ASX 20 comes Aristocrat Leisure, while Amcor heads out of the S&P ASX 20.
- Yandal Resources are seeking to raise up to approximately $3,342,399 by a pro-rata non-renounceable rights offer of up to approximately 13,369,595 shares on the basis of 1 new share for every 5 shares held at an issue price of 25 cents per New Share. The raise is expected to accelerate exploration upon the Gordon’s Project as well as the Mt McClure Project.
- Parent company of Zip Pay, Zip has posted another strong month and is looking at global growth. Zip Pay is a buy now pay later provider of services for the consumer in the retail space. Monthly revenue of $15.6 m was up 78% year on year, monthly transaction volume was up and repayment success rates are on par with the pre COVID-19 environment. Managing Director and CEO Larry Diamond said “May was another strong month for Zip – the performance of the business, both in terms of the continued strong transaction volume, and in particular the outstanding repayment performance, demonstrates the resilience of the Zip business model. The prudent tightening of credit, both onboarding and behavioural, together with the repositioning of the business over the last few months, have us very well placed to accelerate as the economy begins to recover from the impacts of COVID-19. We remain on track to hit our FY20 target of $2.2b in annualised transaction volume set at the beginning of the year.”