ASX top performer claims US tariffs have no material impact on business costs
Testing and Inspection company ALS Limited claims US President Donald Trump's tariffs will have no immediate or material impact on business and input costs.
This comes as the ASX briefly soared above the 8,000-point mark today before closing at 7,997.10.
ALS Ltd rose 3.87 per cent.
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West Australian
42 minutes ago
- West Australian
Kula, Aurumin buoyed by up to 1-ounce-per-tonne WA drilling results
Kula Gold has nailed good gold in recent 1-metre re-assays of 3m composite results the company received two months ago from its joint venture Mt Palmer gold project, near Southern Cross. A best updated hit of 18m at 4.4 grams per tonne (g/t) gold from surface includes 2m assaying 32.3g/t gold from 15m. The original intercept, based on 3m composite sampling, delivered a best result of 18m at 4.7g/t gold from surface, including 3m at 23.4g/t gold. The re-assaying relates to April results from Kula Gold's Mt Palmer gold project, which Kula owns in an 80:20 joint venture with fellow ASX-listed explorer Aurumin Limited. The second-best intercept produced from the 1m re-assays delivered 7m going 7.7g/t gold from surface, including 3m running 17.2g/t gold from 3m. The original 3m composite sampling analysis last April delivered 6m at 8.1g/t gold from surface, including 3m at 15.3g/t gold, which also points to a fair representivity of the faster composite sampling approach for reconnaissance. A third-best 3m composite gave up 12m at 2.3g/t gold from 15m, which included 6m assaying 3.5g/t gold. The 1m re-assay produced 4m at 1.4g/t gold from 15m and 7m at 3.5g/t gold from 20m. Explorers often undertake composite sampling to speed up drilling programs, reduce consumable use and reduce assay costs, especially where knowledge of the environment being drilled is uncertain. If an explorer gets the feeling from initial results that it is 'in the zone', it may dispense with the composite analyses and go straight to smaller sample intervals, which are typically 1m in Australian mineral exploration. Comparing Kula's 3m composites and later 1m re-assays suggests the 3m composites are fairly representative of mineralisation for scout drilling. Overall, the original drilling came up with a bunch of solid gold intercepts, which reinforce Kula's view of Mt Palmer's potential to come up with the goods. Which made it logical for Kula to examine the distribution of gold mineralisation and pick out localised signs of grade enhancement, especially within or near known structural influences. A sniff of mineralisation showing up in a composite almost always needs to be revisited to better resolve what is going on, and the longer the composite run is, the more this observation applies. The shallow depth results so far show early potential for low-cost open-pit mining, which could change depending on the drilling in progress, as well as its orebody wireframing, modelling and economic studies. Kula is continuing with its analytical program on selected 1m splits, while stage two drilling is underway. The company is leaning toward non-destructive photon analysis as its preferred assay method, as it offers a bigger and more representative sample size. Photon assay is used for rapid, non-destructive analysis of gold, silver and other elements in geological and process samples. The technology is capable of faster, more environmentally friendly analysis than traditional fire assay and is often used for high-grade and/or coarse gold, which can be difficult to accurately interpret due to the 'nugget effect'. The new method is non-destructive, which means a sample can be re-used for repeat or alternative analyses and other investigations, such as multi-element work and metallurgy. Kula already sees benefits from using the new method, particularly when close-spaced drill holes return wildly differing gold grades from the same zone or when a hole analysed by fire assay misses what later turns out to be significant gold. The old Mt Palmer mine produced more than 150,000 ounces at 15.9g/t gold from 1934 to 1944. It closed partly due to labour and materials shortages during World War II, became flooded and was never reopened. The old show has seen little systematic exploration since then, until Kula reopened it and launched a more concerted investigation, invigorated by the buoyant gold price. Is your ASX-listed company doing something interesting? Contact:
West Australian
an hour ago
- West Australian
Kasey Sandstrom, a MinRes employee and Chris Ellison's daughter, revealed as a Kali Metals shareholder
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Perth Now
an hour ago
- Perth Now
ASX falls to three-week low on Iran fears
The Australian sharemarket slipped to a three-week low on Monday, despite Commonwealth Bank reaching a new record high, on the back of fears an Iranian response to the US bombing could see the price of crude oil skyrocket. On a volatile day of trading, the benchmark ASX200 fell 30.6 points or 0.36 per cent to 8,474.9 on Monday – its lowest point since June 3 – although it rallied from down nearly 1 per cent during the afternoon's trading. The broader All Ordinaries also slumped, down 35.50 points or 0.41 per cent to close the session at 8,688. The Aussie dollar also fell on the news out of Iran and is now buying US64.18c. On an overall volatile day, eight of the 11 sectors finished in the red, with financials and the energy sector leading the way. Eight of the 11 sectors fell during a volatile day of trading. Photo: Gaye Gerard / NewsWire Credit: News Corp Australia IG market analyst Tony Sycamore said the sell-off was in line with US futures on well-founded fears after the US conducted strikes with B-2 Stealth Bombers on three Iranian nuclear sites over the weekend. 'The US insists the strikes were aimed at halting Iran's nuclear ambitions, not regime change, but Trump's rhetoric suggests openness to further action, Mr Sycamore said. 'You would have been forgiven for thinking we would have a really volatile session on Monday. 'Whether it's just caution or because we have seen nothing from Iran just yet to shake things up further … we are in a hold until we know more.' One of the bright spots on the ASX was the financial sector, with Commonwealth Bank hitting a fresh record high of $184.41, before closing up 1 per cent to $184.35. Mr Sycamore said Commonwealth Bank remains a 'juggernaut that steamrollers people.' 'I don't know where it stops and when it stops but it's the best of the banks and that is the sector where people want to be,' he said. The ASX fell after the US confirmed bombs were dropped on Iran's nuclear facilities. Photo: Gaye Gerard / NewsWire Credit: News Corp Australia Overall, it was a mixed day for the major banks, with Westpac closing up 0.63 per cent to $33.42. National Australia Bank slipped on the bell, down 0.08 per cent to $38.88 and ANZ dropped 0.63 per cent to $28.21. Energy stocks, which initially bounced on the opening bell, trimmed their earlier gains in line with the oil price but still closed the day in the green. Takeover target Santos closed 1 per cent higher to $7.78 while Woodside Energy traded flat and Ampol gained 0.47 per cent to $5.86. Iron ore miners continued their weakness with market heavyweight BHP slumping 1.57 per cent to $35.64, Rio Tinto dropping 0.33 per cent to $101.83 and Fortescue Metals sliding 1.02 per cent to $14.54. In company news, shares in Australia's largest airline Qantas fell 1.85 per cent to $10.08 on the back of higher oil prices. Discounted retailer The Reject Shop announced shareholders had overwhelmingly voted in favour of a $259m takeover by Canadian discount retailer Dollarama at a meeting on Monday. Homewares and furniture retailer Adairs plunged 20.5 per cent to $2.05 after telling the market that full-year earnings would come in below last year's.
