U.S. equities hit more records on Friday, albeit in very light trading with many investors on holidays. Gold jumped 1.9%, while silver popped 2.3% higher. Oil fell. The ASX SPI 200 is 5367.
It was a quiet, low volume day on the ASX today, although the benchmark All Ords eked out a gain. For those investors still following the markets and not sitting at their beach houses drinking pina colada's by the pool, there were some extraordinary records on Wall Street overnight.
Admedus Limited's HSV-2 Phase II trial has received ethics approval to commence immediately, with the company expecting to receive interim results for the study in 2015. The study will investigate the safety and efficacy of the HSV-2 vaccine in patients with the Herpes virus.
The U.S. Department of Defense has once again given a very strong signal to the commercial Fire Retardant industry that it holds Alexium’s FR treatments in very high regard and worthy of procurement / R&D contracts. Proactive Investors believe this will help expedite commercial contracts for Alexium’s range of FR products.
The Batangas Gold Project is now funded until initial development following the signing of a strategic financing partnership. The deal represents a “see-through” valuation for 100% of Batangas of around A$13.4M, more than three times the current market cap. of Red Mountain.
With the survey now completed, Legend can now review all exploration data in order to plan follow up exploration programs for 2015. The company is well-funded with total cash, security deposits and other liquid assets being $10.6M at the end of September 2014.
MZI Resources has received US$37.5M from RCF and has commenced development of the Keysbrook Mineral Sands Project. The project is on the path to first production forecast for December 2015, with cashflows to follow soon after.
Shares in Latin Resources are expected to lift after it discovered copper mineralisation continues over 1.1kms of strike at the Ilo Este project. This potentially points to a large copper porphyry system. The company is already in discussions with a number of potential partners.
Alexium enters 2015 in a strong position with increasing recurring revenues and sales growth, low cash costs and over $5m in cash. The market is moving towards the company's cost effective environmentally friendly FR solutions as bromine is replaced in consumer products and the Defense sector. Shares are expected to trade higher.
Segue Resources will move to 100% of Plumridge East JV after entering into an unconditional agreement to acquire Fraser Range Metals Group interest. Plumridge is located on the same Fraser Range gravity high as the Nova-Bollinger nickel and copper deposit. Exploration is underway.
The Queensland Government Department of Environment and Heritage Protection's appointed external consultant has finished its review of the Company’s Decommissioning Report and Rehabilitation Plan for Carbon Energy's Blue Gum Gas project in the Surat Basin.
South Boulder continues to advance the Colluli Potash Project, and has now finalised the open cut mining method which offers capital and operating cost advantages. All inclusive mining costs forecast at $3.29 per tonne of material mined. The PFS is expected to be completed in February 2015.