Latest news with #DeepYellow
West Australian
7 days ago
- Business
- West Australian
Perth uranium stocks rocket after Sprott raises money for future buying spree of the nuclear fuel
The likes of Paladin Energy, Boss Energy and Deep Yellow all gained at least 15 per cent on Monday following a deal that is set to lift uranium prices. Sprott announced it sold US$100 million ($154m) worth of units in its physical uranium trust to Canaccord Genuity. The global asset manager successfully hawked the units at US$17.25 each, which is $US0.27 above the current unit price. Canada's Sprott is intending to use the money received to buy uranium after the transaction settles on June 20. 'If the entirety of this raise will go towards purchasing uranium, we estimate the demand from this raise at Friday's spot price of approximately US$70 (per pound) equates to approximately 1.43 million pounds (of uranium oxide),' Citi analyst Paul McTaggart said. 'Total utility demand is more than 180 million pounds of (uranium oxide) per year but most of this is done through term contracts — hence we believe this amount could potentially move spot prices, given it is a very thinly traded market.' Deep Yellow led the winners with a 21.2 per cent rise, Boss jumped 17.7 per cent, Paladin was up 15.6 per cent, Bannerman Energy gained 14.3 per cent and Lotus Resources leapt 12.9 per cent. Boss and Paladin are the two most shorted stocks on the ASX.
News.com.au
16-06-2025
- Business
- News.com.au
Top 10 at 11: ASX climbs as energy stocks rocket higher
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. ASX climbs despite Wall Street pain The ASX is rising in early trade, up 0.21% as of about 10:30 am AEST despite full percentage point falls in US markets overnight. The energy sector is surging, up more than 6%, with strong support from the ASX 200 Resources sector, which is up 1.5%. Oil prices surged 7% on Friday and have continued to rise, providing momentum for oil and gas and utility stocks. Santos (ASX:STO) is up over 12% after revealing it received a non-indicative binding proposal from a consortium led by the Abu Dhabi National Oil Company, granting due diligence on a potential $30bn cash takeover. At $7.82, its shares are trading well below the $8.89 bid price, which represents a 28% premium to its last close of $6.96. But uranium companies are also surging. Deep Yellow (ASX:DYL), Paladin Energy (ASX:PDN), Boss Energy (ASX:BOW) and Bannerman Energy (ASX:BMN) have all hiked more than 10%. WINNERS Code Name Last % Change Volume Market Cap BIT Biotron Limited 0.003 50% 370000 $2,654,492 PRM Prominence Energy 0.005 25% 289900 $1,556,706 TEM Tempest Minerals 0.005 25% 200000 $3,511,212 ICE Icetana Limited 0.051 24% 243958 $21,804,862 ATX Amplia Therapeutics 0.069 21% 9024299 $22,113,302 AR9 Archtis Limited 0.075 21% 338479 $17,853,963 AZL Arizona Lithium Ltd 0.006 20% 1726225 $26,351,572 RC1 Redcastle Resources 0.006 20% 1426639 $3,717,835 PGO Pacgold 0.077 18% 524013 $9,940,387 AON Apollo Minerals Ltd 0.007 17% 12300 $5,570,741 In the news... Tempest Minerals (ASX:TEM) reckons it's sitting on an exceptional iron ore development at the Yalgoo project's Remorse deposit, after some recent metallurgical test work produced iron ore concentrate grading at 70% iron content. In a rare win for patients with advance pancreatic cancer, Amplia Therapeutic's (ASX:ATX) ACCENT trial has achieved a pathological complete response, meaning there were no signs of cancer in the patient's tissue after it was surgically removed. The company was investigating the use of its FAK inhibitor narmafotinib in combination with standard-of-care chemotherapies gemcitabine and Abraxane in patients with metastatic pancreatic cancer. A contract with the US Department of Defense has turned heads for archTIS (ASX:AR9), after the company locked in a deal to deploy its NC Protect secure software collaboration solution to an initial 1000 users. AR9 expects to expand to the full DoD network in the coming months, with potential to expand its user base 6-fold. The initial license sale carries a value of $38,500. Redcastle Resources (ASX:RC1) has inked a memorandum of understanding with a contract miner to manage mining works at the Queen Alexandra and Redcastle Reef projects on a profit-sharing basis. The agreement covers gold mineralisation down to 70m of depth, with Redcastle retaining rights to the mined gold and control of downstream transportation and processing. Pacgold (ASX:PGO) has hit more broad, shallow gold at the Alice River gold project, with RC drilling producing up to 48 metres at 2.1 g/t gold from 76 metres, and higher-grade intersections of 15m at 5g/t and 2m at 29 g/t gold. LAGGARDS Code Name Last % Change Volume Market Cap PRX Prodigy Gold NL 0.001 -50% 250000 $6,350,111 RAN Range International 0.001 -50% 450000 $1,878,581 RLC Reedy Lagoon Corp. 0.001 -50% 85604 $1,553,413 AUH Austchina Holdings 0.001 -33% 328 $4,538,075 FTC Fintech Chain Ltd 0.002 -33% 17241 $1,952,309 SFG Seafarms Group Ltd 0.001 -33% 75000 $7,254,899 GLE GLG Corp Ltd 0.1 -23% 59324 $9,633,000 CTN Catalina Resources 0.004 -20% 5108813 $12,130,095 ENT Enterprise Metals 0.002 -20% 143661 $2,953,293 EQX Equatorial Res Ltd 0.13 -19% 4000 $21,031,256 At Stockhead, we tell it like it is. While Redcastle Resources is a Stockhead advertiser, it did not sponsor this article.
Sky News AU
16-06-2025
- Business
- Sky News AU
Australian energy stocks soar as Israel-Iran conflict sends oil prices skyrocketing
The ASX 200 has jumped on Monday with energy stocks soaring as oil prices jump off the back of the conflict between Iran and Israel. The ASX, down more than four per cent in the first 30 minutes of trading, is in focus after the Australian Securities and Investments Commission revealed it was launching an inquiry into the financial market operator over 'repeated and serious failures'. Concerns have arisen about the ASX's upgrade of its ageing computer system, and a series of technical failures caused by poor governance. Energy stocks are once again surging with Boss Energy jumping 12.2 per cent, Deep Yellow adding 18.5 per cent and Paladin Energy rising 11.8 per cent. Santos has spiked 12.6 per cent after Abu Dhabi National Oil Company made a $30 billion takeover offer for the Aussie giant. The rise also comes after the conflict between Israel and Iran heating up as the IDF targets the Islamic Republic's main gas depot and one of its largest oil refineries in separate strikes. This followed Israel bombing Iranian nuclear facilities, and Tehran's retaliation involving drone and missile attacks. Oil prices in the US have jumped about 7.5 per cent since the conflict began. Major indexes on Wall Street plunged after conflict kicked off on Friday. The S&P 500 sank 1.1 per cent, the Dow Jones shed 1.8 per cent and the Nasdaq fell 1.3 per cent. London's FTSE 250 Index dropped one per cent on Friday, Germany's Dax lost 1.1 per cent and the STOXX Europe 600 declined 0.9 per cent. New Zealand's NZX 50 is up 0.1 per cent on Monday, while Japan's Nikkei 225 has added 0.9 per cent.
West Australian
28-05-2025
- Business
- West Australian
Uranium company says WA Government policy changes ‘warranted' as it produces ‘more accurate' project study
A company with a long-stalled uranium project in the northern Goldfields says changes to the State Government's policy towards the nuclear fuel are 'warranted' after a 'more accurate' low-level study highlighted the 'robust' economic potential of one of its deposits. West Perth-headquartered Toro Energy's Wiluna uranium-vanadium project has three deposits, including Lake Maitland, which is 105km south-east of the northern Goldfields town. The WA Labor Government has a policy banning new uranium mining projects in the State, and Toro's approvals for Wiluna, which were granted in 2016, lapsed in 2021 because 'substantial commencement' was deemed not to have taken place. The only uranium project in WA with currently valid State approval is Deep Yellow's Mulga Rock proposal 290km east-north-east of Kalgoorlie-Boulder — but this is second in line to the $750 million Tumas project in Namibia, where Deep Yellow recently delayed a financial investment decision as it waits for global prices to improve. However, Toro has kept its investment in Wiluna bubbling away, and on Wednesday released an updated scoping study for Lake Maitland which it said highlighted a 'robust' case for a standalone mining and processing operation. Toro executive chairman Richard Homsany said the new study used the recently completed, more accurate resource estimation and re-engineering of the proposed mining operations. 'The result is a more accurate study that clearly demonstrates just how robust the potential economics of the proposed project are, with an uplift of $75m or 9 per cent to a base case of $908m in pre-tax net present value, and a significant reduction in the payback period to a very swift 18 months from the commencement of mining and processing,' he said. 'As we have stated previously, the Lake Maitland deposit comprises a significant proportion of the Wiluna uranium project's resources, so we cannot understate just how transformational the standalone Lake Maitland operation is on the potential economics of the entire Wiluna uranium project. 'These latest estimates at Lake Maitland outline its potential to be brought into production and capacity to generate significant returns when regulatory settings align. 'Importantly, Lake Maitland's upside and quality continue to improve with each evaluation Toro undertakes, further strengthening the case that Wiluna is an asset of global significance. 'Policy changes at the WA State Government level to facilitate Toro's project development and unlock the considerable value in WA's uranium industry are warranted and, in the context of assisting many countries with nuclear power in their energy mix to achieve decarbonisation, are more than well overdue.' Toro on Wednesday said it believed its State approval remained valid despite not achieving substantial commencement, and it still had the option of applying under the Environmental Protection Act for an extension of time at a later time during the life of the approval. 'It is also envisaged that favourable results from the studies detailed in this announcement may also necessitate an amendment to the proposal the subject of each environmental approval received,' the company said. The company updated the resource at Lake Maitland last September by 12 per cent to 29.6 million pounds of contained triuranium octoxide — otherwise known as yellowcake — with a reduction in average grade to 403 parts per million triuranium octoxide at a 100ppm cut-off grade. The study released on Wednesday said Lake Maitland could produce 1.3 million pounds annually of yellowcake across a 16.3-year mine life — which amounted to a total of 22Mlb. It said the total cost of the project was $298.4m. The returns were based on a uranium price of US$85/lb — rival Canadian company Cameco estimates the spot price in April was US$67.73/lb. The study also included the stripping of vanadium from the uranium processing flow stream — Toro said it was liberated from the uranium ore mineral as a potassium uranium vanadate, along with the uranium, during leaching, to produce a low-value sodium hexavanadate as a by-product. Last September's mineral resource estimate said Lake Maitland had a vanadium resource of 50Mt at 285ppm vanadium oxide for 31.4Mlb at a 100ppm cut-off.
Sky News AU
23-05-2025
- Business
- Sky News AU
ASX 200 back in the black after uranium stocks buoyed by report Donald Trump will sign executive orders on nuclear energy
The ASX 200 is up again on Friday, heavily driven by surging uranium stocks. The index shed 0.5 per cent on Thursday in a rare loss as it continues to climb back up to its mid-February high point. It see-sawed on opening and sits up about 0.2 per cent after the first 40 minutes of trading. Uranium miners are soaring on Friday with Boss Energy up 11.5 per cent, Deep Yellow rising 8.3 per cent and Paladin Energy jumping 7.9 per cent. This follows a Reuters report that Donald Trump is expected to sign nuclear-related executive actions this week over concerns about US dependence on Russia and China for uranium and nuclear fuel. In the US, the major indexes finished the day largely unchanged with both the Dow Jones and S&P 500 flat and the Nasdaq rose 0.3 per cent. This followed a wipeout across Wall Street on Wednesday as investors were spooked by lacklustre US Treasury auction that highlighted concerns about the economic strength of the world's largest superpower. The major European indexes recorded falls on Thursday with London's FTSE 250 Index diving 0.7 per cent, Germany's DAX sinking 0.5 per cent and the EURO STOXX 50 Index shedding 0.6 per cent. Since it began trading on Friday, New Zealand's NZX 50 Index has zig-zagged and sits relatively flat from its Thursday closing price.
