Good afternoon
Nvidia is buying Softbank´s ARM for 40 bill us and some other &A deals worth a total of 70 bill are driving equity markets higher today, especially in the US. Looks like Oracle will be buying Tik-Tok.
Australian listed company Starpharma could have a spray against the coronavirus ready by the first half of 2021! It could be applied before and after an infection.
Macquarie Bank is feeling the coronavirus as well and is expecting 35% lower earnings!
Macquarie analysts have changed their view for the shorter term outlook for nickel to the positive. Very strong stainless steel numbers from China have led them to this view. Also, nickel ore production from the Phillippines is looking weak.
Base metals are slightly up today, following a strong day on Friday ( nickel the stand-out, up by 1,3% currently ). Gold is also looking much improved, as the US$ is weakening again.
De Grey Mining have raised 100 mill$ ( ! ) in a heavily oversubscribed placement…I would not buy them at current levels. Where is the upside to something which is capped at 1.8 bill A$ or so already?? There must be much mainstream money buying this thing!
Saturn Metals also completed a 13.7 mill$ placement - that´s probably a better story in this gold price enviroment!
Breaker also announced a heavily subscribed result of their SPP, raising 2.7 Mill$ from it, following a placement of 23 mill A$ at the same price of 24ct. They will definitely have enough money now to prove, that tehy have a viable mine on their hands! Part of the capital raise is subject to approvel at the AGM, but that should not be a problem. For the first time, the company should have funds now for an intensive, 2 year drilling program.
Strike Energy - announced, that the planned sell-down of acreage to Talon has been consumated. Talon will have 45% of teh Walyering gas exploration asset, by spending 6 mill A$ on drilling in the first half of 2021. Strike has already discussed potential off-take with energy users and believes, that Walyering could be brought into production quickly and at low cost, if successfull. This is only a sideshow for Strike, but could be quite valuable in it´s own right.
Have a nice evning!
WS