Market Update: ASX trades flattish red; eyes on iron ore prices

The ASX200 is trading flat, after paring early morning gains.

The real estate sector is leading early gains, up 1.84 per cent. Information tech has also gained three quarters of a per cent. On the other end utilities and health are the biggest fallers with healthcare down 1 per cent.

China’s government will meet on Tuesday to have a policy meeting which traders will be watching closely as iron ore prices fall to $113 a tonne.

In this mid-session update we’ll discuss Barton Gold Holdings, Boral, Seven group holdings and 92 Energy.

Barton Gold grows JORC to 1.5Moz

Barton Gold Holdings (ASX:BGD) has provided an update on its Tunkillia Gold Project, reporting elevated JORC resources to 1.5 million ounces of gold.

This marked the third JORC upgrade in a year, with 0.53 million ounces at a reported cost of $15 an ounce.

The company confirmed open-pittable mineralization near the ‘223 Deposit.’

The focus of the 2024 exploration run remains on high-grade targets at Tunkillia and Tarcoola.

BGD has been trading at 25 cents.

Construction materials company Boral (ASX:BLD) has urged shareholders on Monday to take no action regarding Seven Group Holdings (ASX:SVW) takeover offer.

Seven first offered the $1 billion takeover deal in mid-February this year.

BLD announced it will provide a Target’s Statement for its shareholders within the next two weeks.

Seven group holdings shares are at an all-time high.

SVW has been trading at $39.39.

BLD has been trading at $6.05.

And 92 Energy (ASX:92E) is set to list on the Toronto Ventures Stock Exchange (TSXV) through a merger with ATHA Energy Corp.

ATHA shares will be delisted from TSXV as of March 4, 2024.

92E also plans to acquire all shares in Latitude Uranium, a move approved by Canadian courts.

The TSXV listing aligns with current high uranium prices.

92E has been trading at 50.5 cents.

That’s your market update, we’ll see you later for market close.

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