Latest news with #ASX
The Market Online
2 hours ago
- Business
- The Market Online
Cygnus raises $16.2M to accelerate resource growth and mining studies
Cygnus Metals (TSXV:CYG) received firm commitments from institutional and sophisticated investors to raise approximately C$16.2 million (before costs) through a two-tranche share placement Proceeds from the financing will be directed toward exploration and resource growth at the Chibougamau Copper-Gold Project The company is planning a resource update next quarter Cygnus Metals stock (TSXV:CYG) last traded at $0.08 Cygnus Metals (TSXV:CYG) has received firm commitments from institutional and sophisticated investors to raise approximately C$16.2 million (before costs) through a two-tranche share placement. The capital raise will support the company's continued exploration and development activities at its flagship Chibougamau Copper-Gold Project in Québec, Canada. The placement will involve the issue of 212,790,697 fully paid ordinary shares at an issue price of $0.086 per share, representing an 8.5 per cent discount to the last closing price of $0.094 on 17 June 2025. Following the placement, Cygnus forecasts a pro-forma cash balance of approximately C$21.0 million as of 30 June 2025 (before placement costs), significantly strengthening its financial position. Proceeds from the financing will be directed toward: Exploration and resource growth at the Chibougamau Copper-Gold Project Resource conversion and permitting activities Advancing technical studies based on the 2022 Preliminary Economic Assessment (PEA) completed by Doré Copper Mining Corp. General working capital and placement-related costs The placement will be conducted in two tranches: Tranche 1 : Comprising 211,627,907 shares to raise approximately C$16.1 million under the company's existing placement capacity under to ASX listing rules. Settlement is expected on 26 June 2025. : Comprising 211,627,907 shares to raise approximately C$16.1 million under the company's existing placement capacity under to ASX listing rules. Settlement is expected on 26 June 2025. Tranche 2: Comprising 1,162,790 shares to raise up to C$88,810.00, to be issued to Non-Executive Director Raymond Shorrocks or his nominees. This tranche is subject to shareholder approval at a General Meeting anticipated in August 2025. 'We have been generating outstanding results at Chibougamau and the proceeds of this raising will enable us to unlock the value much faster,' Cygnus Managing Director David Southam said in a news release. 'There is clearly immense scope to grow and upgrade the project's resource on the back of Corner Bay and Golden Eye. Given this potential, we want to move as quickly as possible on the exploration front and advance our study work at the same time. This comes against a backdrop of increased M&A activity in the copper space which demonstrates that finding high-grade copper/gold projects with infrastructure in mining friendly jurisdictions are rare – we just happen to have one of the best.' Following a successful drilling campaign at the flagship Corner Bay deposit and the identification of high-grade gold/copper at the new Golden Eye prospect, the company is planning a resource update next quarter. Cygnus Metals Ltd. is a critical minerals exploration and development company with projects in Québec, Canada and Western Australia. Cygnus Metals stock (TSXV:CYG) last traded at $0.08. Join the discussion: Find out what everybody's saying about this stock on Cygnus Metals' Bullboard, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
News.com.au
3 hours ago
- Business
- News.com.au
Criterion: Back up the dumpster! It's time for an EOFY share purge
Potential tax loss selling candidates include ASX200 inclusions Domino's Pizza Enterprises and IDP Education Investors may want to offset capital gains from successful AI and Trump-related plays But beware: tax-loss selling is governed by ATO rules Tax-loss selling is a fine judgment call, because the dud shares can be on the cusp of a brilliant recovery. In some cases, their worth has been further devalued by EOFY selling that in theory will ease after June 30. But for investors sitting on capital gains from an AI driven splurge on data centres or a fear-driven plunge into gold, offsetting the gains by selling the lost causes makes sense. Or maybe hey want to lighten up on Commonwealth Bank (ASX:CBA) shares and offset the healthy gains Investors must ensure they are genuinely exiting the position, with the taxman's 'wash' rules preventing repurchasing within 45 days. Even then, investors must justify their action, such as independent research changing a call on a stock from 'sell' to 'buy'. Domino's prospects are as flat as its pizza Amid a string of downgrades, Domino's Pizza Enterprises (ASX:DMP) shares have lost 88% of their value since peaking in September 2021. Domino's problems include underperforming French and Japanese operations, while measures including store closures have failed to turn the company's fortunes. Long-time CEO Don Meij departed in November last year, while the Europe and Japan chiefs have also left the building. As with McDonald's decades previously, Dominos mastered the art of industrial scale, ultra fast production. Maybe the world has reached peak pizza … if that's possible. Busted flush Having seen 70% of the value of their holdings vanish over the past year, Star Entertainment Group (ASX:SGR) investors would have been better off at the blackjack table … and that's not saying much. The owner of gambling dens in Sydney, Brisbane and the Gold Coast, Star was crippled by money laundering and other governance controversies. Star is subject to a convertible note/debt-based rescue bid from US casino operator Bally's Corporation. An independent expert report dubs the proposal as 'not fair' to shaeholders but 'compelling' nonetheless, given the company's dire position. Investors should take the hint. Also pinged for money laundering transgressions, SkyCity Entertainment Group (ASX:SKC) last month warned of 'deteriorating' trading conditions at its Auckland and Adelaide casinos. Skycity shares have fallen 36% over the year. Morningstar dubs them as 'materially undervalued', but the company's luck doesn't look like turning any time soon. A sobering lesson Shares in overseas student wrangler IDP Education (ASX:IEL) plunged 50% after a June 3 profit warning, erasing $1 billion of value. IDP has nowhere to run, with its key geographies of Canada, Australia, the UK and the US all executing migration crackdowns. Overseas students made for a once thriving export industry, but the crackdown has cooked and plucked that golden goose. IDP remains the industry leader and management points to a recovery. The stock remains one class worth wagging, in our humble view. The stock has lost an astonishing 75% over the last year. Shooting Bambi Selling CSL (ASX:CSL) shares is like shooting Bambi, given the almost certain demand for its life-saving plasma derived products. Once the biggest ASX company, CSL has lost 17% of its value because of weakness in its Seqirus flu vaccine division and its acquired Vifor kidney health arm. Lingering concerns over Donald Trump's tariff and drug pricing have also weighed on sentiment. Broker Wilsons describes CSL as 'thorougly over owned'. But - hey - the experts said the same about CBA shares, which continue to defy gravity. Cochlear (ASX:COH) shares also are off the pace. In an earnings downgrade last week, the company noted weakness in developed markets for implant and sound processor sales. New implant and processor products might put things right, but so far investors aren't listening. Small cap cleanout candidates Call recording house Dubber Corp (ASX:DUB) in March 2024 discovered that $30 million of funds had gone missing. This week, the company said it would sue its external auditors over the unrecovered $26.6 million. But with investors sitting on an 80% loss since the incident, they probably should hang up. In the retail sector, shares in plus-sized clothier City Chic Collective (ASX:CCX) have shrunk 35% over the year and 97% over five years. The company recently warned of poor trading here and in the US, while tariffs are a worry. Weight Watchers filed for US bankruptcy in May and Ozempic sales are booming, so maybe there's a nexus. Owner of Kathmandu, KMD Brands (ASX:KMD) on Thursday signalled peak puffer jacket with a weak earnings outlook.
West Australian
4 hours ago
- Entertainment
- West Australian
Herd on the Terrace: Helen Lofthouse, David Clarke show sugarcoating way to go on ASX
Herd on the Terrace: Helen Lofthouse, David Clarke show sugarcoating way to go on ASX
Sydney Morning Herald
5 hours ago
- Business
- Sydney Morning Herald
ASX Runners of the Week: Amplia, archTIS and Vanadium Resources
If you were looking for correlation between the seemingly continuous breakouts of military hostilities between nuclear-armed nations and the market - good luck. The ASX continued at near all-time highs this week, pulling back a fraction by Friday, as conflict between Iran and Israel continued to rise. The oil price surged a further 10 per cent this week as Israel turned its focus from Iran's nuclear facilities to targeting its oil and gas infrastructure. Uranium stocks were the week's main winners. Surprisingly, they were not fuelled directly by global drivers, but rather by investment heavyweight Sprott's physical uranium trust purchase of $200 million worth of uranium oxide, which was announced on Monday. The result for uranium stocks on the index was deafening. Uranium miners Boss Energy, Paladin Energy and Deep Yellow were among the most heavily shorted on the ASX, making up three of the top 10 shorted companies. A sharp increase in uranium caused a two-fold effect of en masse buying and short seller panic to close out positions, with the big three uranium stocks all surging up 20 per cent on the day. In a rare shake-up, no Australian-based resource companies feature on this week's Bulls N' Bears' ASX Runners list. Instead, the chocolates went to a groundbreaking Aussie biotech story, which could be on to the makings of one of the biggest breakthroughs in oncology treatment in years. Up 339% (5.7c – 25c) This week's Bulls N' Bears ASX Runner of the Week is biotech trailblazer Amplia Therapeutics, which sent the market into an absolute tailspin thanks to a jaw-dropping set of results from a clinical trial for incredibly nasty pancreatic cancer.
The Age
5 hours ago
- Business
- The Age
ASX Runners of the Week: Amplia, archTIS and Vanadium Resources
If you were looking for correlation between the seemingly continuous breakouts of military hostilities between nuclear-armed nations and the market - good luck. The ASX continued at near all-time highs this week, pulling back a fraction by Friday, as conflict between Iran and Israel continued to rise. The oil price surged a further 10 per cent this week as Israel turned its focus from Iran's nuclear facilities to targeting its oil and gas infrastructure. Uranium stocks were the week's main winners. Surprisingly, they were not fuelled directly by global drivers, but rather by investment heavyweight Sprott's physical uranium trust purchase of $200 million worth of uranium oxide, which was announced on Monday. The result for uranium stocks on the index was deafening. Uranium miners Boss Energy, Paladin Energy and Deep Yellow were among the most heavily shorted on the ASX, making up three of the top 10 shorted companies. A sharp increase in uranium caused a two-fold effect of en masse buying and short seller panic to close out positions, with the big three uranium stocks all surging up 20 per cent on the day. In a rare shake-up, no Australian-based resource companies feature on this week's Bulls N' Bears' ASX Runners list. Instead, the chocolates went to a groundbreaking Aussie biotech story, which could be on to the makings of one of the biggest breakthroughs in oncology treatment in years. Up 339% (5.7c – 25c) This week's Bulls N' Bears ASX Runner of the Week is biotech trailblazer Amplia Therapeutics, which sent the market into an absolute tailspin thanks to a jaw-dropping set of results from a clinical trial for incredibly nasty pancreatic cancer.
