The ASX200 has traded down well over a per cent this morning – performing worse than predicted.
All sectors, except Energy and Real Estate, have been in the red, with Materials shedding more than 2 per cent. Utilities is also making small gains in mid-afternoon trades.
In this bulletin, we’ll look at news from West African Resources, Iress, Raiden Resources, and Recce Pharmaceuticals.
In company news,
West African Resources (ASX:WAF) has been up half a per cent on market after intercepting more gold at its Sanbrado Gold operations in Burkina Faso.
The best results from recent underground diamond drilling in the northern shoot at the M1 South target of interest was 9.5m at more than 80 (81.91) grams per tonne of gold from a depth of 62 metres.
The company claims it’s on track to produce 4 million ounces of gold over the next decade, with production set to peak in 2029 at more than 470,000 ounces of gold.
WAF has been trading at $1.01.
$1.6 billion market cap financial services tech company Iress (ASX:IRE) has added well over half a per cent (0.65) after securing a binding agreement to divest its UK mortgages business to Bain Capital Tech Opportunities in a A$164.3 million deal.
Net proceeds from the sale are expected to lie between A$135 and 141 million.
IRE has been trading at $8.51.
Copper-gold explorer Raiden Resources (ASX:RDN) released its half year report focussed on lithium exploration in the Pilbara region in Western Australia.
Some rock chip samples from its Andover project have returned grades up to 3.8 per cent lithium.
The company held $7.7 million cash and equivalents at the end of December.
RDN has been trading at 2.4 cents.
And Recce Pharmaceuticals (ASX:RCE) has traded up as much as 6 per cent after completing dosing of four people at a fast, 20-minute, infusion rate for its RECCE 327 (R237) synthetic antibiotic. The trial is for treating urinary tract infection (UTI) and urosepsis.
Work is now set to begin on data evaluation and review – which will be undertaken by an Independent Safety Committee – and recruitment for the next testing cohort.
Recce intends to then progress to a Phase II UTI/Urosepsis efficacy trial.
RCE has been trading at 44.5 cents.
That’s news for now.
