LA Private

Shares closed 0.23% higher as SYA launches $200m raise

Sayona Mining (ASX:SYA) has launched a $200 million raising through its broker Petra Capital, offering shares at 18 cents each, which is the same price it raised at a year ago. The move follows the successful production of lithium concentrate at Sayona’s North American Lithium project in Canada’s Quebec.

At the closing bell, the S&P/ASX 200 was 0.23 per cent higher at 7,154.80.


The Dow Jones futures are pointing to a fall of 36 points.
The S&P 500 futures are pointing to a fall of 6.50 points.
The Nasdaq futures are pointing to a fall of 12.75 points.

Best and worst performers

The best-performing sector was Information Technology, up 1.55 per cent. The worst-performing sector was Health Care, down 0.76 per cent.

The best-performing large cap was Altium (ASX:ALU), closing 3.56 per cent higher at $39.85. It was followed by shares in NEXTDC (ASX:NXT) and Fortescue Metals Group (ASX:FMG).

The worst-performing large cap was Fisher & Paykel Healthcare Corporation (ASX:FPH), closing 6.29 per cent lower at $22.48. It was followed by shares in Allkem (ASX:AKE) and Pilbara Minerals (ASX:PLS).

Asian markets

Japan’s Nikkei has gained 0.37 per cent.
Hong Kong’s Hang Seng has lost 1.93 per cent.
China’s Shanghai Composite has gained 1.71 per cent.

Company news

Blaze Minerals (ASX:BLZ) has entered into a Heads of Agreement with Exiro Minerals to acquire 100 per cent of the North Spirit Lithium Project located in Ontario, Canada. Corporate Director Mathew Walker stated, “[We] look forward to the execution of our northern hemisphere summer exploration program with our partners at Exiro.” Shares closed 90 per cent higher at 2 cents.

Pure Hydrogen Corporation (ASX:PH2) announced an order valued at up to AUD 34 million under the existing contract with Renova AB to supply Hydrogen Fuel Cell trucks. Managing Director, Scott Brown, said: “Pure Hydrogen is having productive negotiations with potential customers in the heavy vehicle industry.” Shares closed 8.89 per cent higher at 24.5 cents.

Far East Gold (ASX:FEG) announced bonanza grade gold at their Woyla Project in Indonesia. CEO, Mr. Shane Menere commented, “The results from recent mapping serve to indicate that there are still plenty of significant discoveries to be made within the Woyla project.” Shares closed 5 per cent higher at 31.5 cents.

Commodities and the dollar

Gold is trading at US$1,967.20 an ounce.
Iron ore is 0.8 per cent higher at US$98.10 a tonne.
Iron ore futures are pointing to a 3 per cent rise.
Light crude is trading $0.13 higher at US$71.92 a barrel.
One Australian dollar is buying 65.22 US cents.