Amaero Limited (ASX 3DA) preps $50m cash call; BJ on ticket
Street Talk understands Amaero Ltd, a US-based manufacturer of niobium and titanium compounds for the defence, space and aviation industries, had Barrenjoey's bankers crossing fund managers for a cash call on Tuesday afternoon.
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9 News
19 minutes ago
- 9 News
Deodorant, butter knives hit as Trump expands steel tariff
Your web browser is no longer supported. To improve your experience update it here Hundreds of different goods just got a lot more expensive to import into the US, now that President Donald Trump's 50 per cent tariff on steel and aluminium has kicked in. Butter knives, baby strollers, spray deodorants and fire extinguishers, considered "derivative" steel and aluminium products, were previously excluded from the 50 per cent tariff, though they were still subject to the higher country-specific tariffs Trump enacted over the last several months. However, on Friday, US Customs and Border Protection and a division of the US Commerce Department published notices informing US importers that 407 categories of goods containing steel and aluminium would immediately be subject to the 50 per cent tariffs at 12.01am ET on Monday (2.01pm Tuesday AEST). Spray deodorant is among an extensive list of goods now subject to 50 per cent steel and aluminium tariffs in the US. (diego_cervo/iStockphoto/Getty Images via CNN) The non-steel and non-aluminium components of the products face other applicable levies. The abrupt move leaves many US-based importers between a rock and a hard place, with goods they already paid for currently in transit. If they decide to accept the goods, the importers will have to pay considerably higher tariffs. But if they, for instance, tell cargo operators not to unload their orders at US ports to avoid paying tariffs, they'll likely lose money. "Today's action expands the reach of the steel and aluminium tariffs and shuts down avenues for circumvention – supporting the continued revitalisation of the American steel and aluminum industries," Under Secretary of Commerce for Industry and Security Jeffrey Kessler said in a statement. As is the case with any tariff in place, businesses may not pass on the entire tariff expense they've paid to consumers by raising prices. But the chances of businesses absorbing a tariff as high as 50 per cent will likely be slimmer compared to goods tariffed at lower rates. In addition to the 50 per cent tariff on copper-based goods that recently took effect, the levies "will likely ripple through the manufacturing supply chain, raising production costs across construction, automotive, and electronics sectors," analysts at the Telsey Group said in a note on Tuesday. tariffs Donald Trump Economics USA World CONTACT US
News.com.au
9 hours ago
- News.com.au
Closing Bell: ASX mugged by healthcare losses, down 0.7pc as sector freefalls
ASX bulls take a breath as market falls 0.7pc Healthcare leads losses, down 8.7pc Biotech heavyweight CSL suffers worst single day losses in decades Healthcare sector in need of resuscitation The ASX has given up its bull rush for the moment, retreating 0.7% or 63 points from all-time highs. All fingers are pointing to healthcare as the culprit, down a shocking 8.73% in a single day. Energy wasn't helping matters either, shedding 2.2%. There were signs of life in telecoms, info tech and our top banking stocks, but it wasn't enough to offset the red side of the ledger. Earnings season loses a bit of shine We're in the thick of full-year results season on the ASX, and things are looking a little less rosy than they were last week. Our own Eddy Sunarto gave us the lowdown on CSL's absolutely brutal sell down in the Lunch Wrap, but things have gotten even worse for the biotech since, with shares falling 16.8% to $225.50 each. If you're looking for the deets on BHP, Deterra Royalites, Woodside Energy, Seek or Judo Capital Holdings, he's got you covered. And if you want an even more granular take on BHP, read this morning's breakdown from Josh Chiat, here > Now, let's dive into the afternoon's reports. The good, the bad and the ugly SRG Global (ASX:SRG) shares rose 8.4% in trade to $1.74 each after putting in a solid financial performance for FY25, lifting earnings per share 34% to 10.3c each and EBITDA 29% to 127.1m. The diversified infrastructure company's forward outlook is looking bright as well, forecasting EBITDA growth of about 10% in FY26 compared to this year. Monadelphous Group (ASX:MND) lifted revenue 12% to $2.27 billion this year, also achieving a 34.6% uptick in net profit to $83.7 million. MND's shares lifted 4.2% to $21.12 each in response, perhaps in part to a tasty 72c per share dividend, up 24% from last year, with earnings per share reaching 85c. MyState (ASX:MYS) had a bit more of a mixed response to its performance, with shares ticking up just 0.55% to $4.58 each. The financial stock improved underlying profit after tax by 17% to $41.3 million, but costs also rose 3.7% across MYS's MyState Bank and TPT Wealth sectors. Including Auswide Bank, the group's total operating expenses were $127m. That said, MYS customer home loans grew 62% over the period to $12.9 billion and customer deposits by 71% to $10.1 billion. MyState is offering a final dividend of 11c a share, up from 10.5c in H1FY25. Reliance Worldwide Corporation (ASX:RWC) shares tumbled 6.96% after the plumbing supplier flagged uncertainty for its near-term outlook, declining to offer revenue or earnings guidance for the 2026 financial year. RWC expects to take some damage from US tariffs, forecasting a US$25-$30 million hit to earnings. That said, the company's full-year net profits did rise 13.5% over FY25 to US$125 million, with adjusted EBITDA rising 1.1% to US US$277.7 million. RWC is offering a dividend of 5c a share. ASX Leaders Today's best performing stocks (including small caps): Code Name Last % Change Volume Market Cap MGTRG Magnetite Mines - Rights 0.031 675% 4776110 $163,410 ITM Itech Minerals Ltd 0.072 112% 30046859 $5,808,403 MTL Mantle Minerals Ltd 0.002 100% 2542330 $6,447,446 NTM Nt Minerals Limited 0.002 100% 22379052 $1,210,903 SFG Seafarms Group Ltd 0.002 100% 578305 $4,836,599 RGT Argent Biopharma Ltd 0.15 74% 1893170 $6,207,751 MGT Magnetite Mines 0.12 69% 14011589 $8,701,599 IVX Invion Ltd 0.145 56% 891360 $7,965,176 HCD Hydrocarbon Dynamics 0.003 50% 692649 $2,156,219 MOM Moab Minerals Ltd 0.0015 50% 554111 $1,874,666 JAY Jayride Group 0.007 40% 3530276 $7,139,445 MBK Metal Bank Ltd 0.014 40% 1648531 $4,974,590 1AD Adalta Limited 0.004 33% 39782324 $3,463,949 ECT Env Clean Tech Ltd. 0.004 33% 1053151 $12,046,306 HLX Helix Resources 0.002 33% 33039035 $5,046,291 LNR Lanthanein Resources 0.067 29% 1315810 $9,741,893 CAQ CAQ Holdings Ltd 0.009 29% 23 $5,024,504 SRJ SRJ Technologies 0.009 29% 2185984 $7,286,318 LMG Latrobe Magnesium 0.028 27% 12878283 $57,958,981 SNX Sierra Nevada Gold 0.025 25% 2405458 $3,293,182 IMI Infinitymining 0.01 25% 315007 $3,384,126 MSI Multistack Internat. 0.005 25% 469878 $545,216 PRX Prodigy Gold NL 0.0025 25% 10983586 $13,483,725 TKL Traka Resources 0.0025 25% 12620000 $4,844,278 TMK TMK Energy Limited 0.0025 25% 99500 $20,444,766 In the news… Magnetite Mines (ASX:MGT) has zeroed in on clay-hosted rare earth mineralisation at the Ironback Hill project, next door to MGT's magnetite iron ore deposit. Magnetite's re-analysis of previous drilling revealed total rare earth oxide results up to 1153 parts per million, which management reckons warrants some low-cost follow up exploration. Argent Biopharma (ASX:RGT) is in the process of acquiring the core operating assets and IP of AusCann Group Holdings Ltd, including the Neuvis proprietary SEDDS drug delivery platform. The acquisition will also include any related intellectual property, a 48% shareholding in CannPal Animal Therapeutics Pty Ltd and AC8's 19.99% shareholding in ECC Pharm Ltd. RGT says it's a key step in meeting the financial and qualitative requirements for a planned US national listing for the company. iTech Minerals (ASX:ITM) is riding the antimony gravy train, identifying two fresh 300m zones of high-grade antimony at the Reynolds Range project in the Northern Territory. The company also identified coincident gold, assaying up to 24 g/t from surface sampling. ITM's historical geological data suggests the zones may be about 14m thick, grading up to 30.6% antimony (Sb) in rock chips at the Sabre prospect and up to 15.9% Sb at Falchion. The company is moving to obtain drilling approvals to test all three identified antimony targets at Reynolds later this year. ASX Laggards Today's worst performing stocks (including small caps): Code Name Last % Change Volume Market Cap AQX Alice Queen Ltd 0.003 -25% 100001 $5,538,785 CR9 Corellares 0.003 -25% 1296010 $4,029,079 M2R Miramar 0.003 -25% 4750000 $3,987,293 ROG Red Sky Energy. 0.003 -25% 369717 $21,688,909 MPP Metro Ltd 0.03 -25% 472056 $7,415,123 8CO 8Common Limited 0.02 -23% 300851 $5,826,467 FNX Finexia Financialgrp 0.14 -22% 75000 $11,214,714 AOK Australian Oil. 0.002 -20% 115000 $2,594,457 ERA Energy Resources 0.002 -20% 3716953 $1,013,490,602 MRD Mount Ridley Mines 0.004 -20% 1771749 $4,476,312 RWL Rubicon Water 0.17 -19% 600 $50,545,971 CSL CSL Limited 225.5 -17% 5026031 $131,376,433,212 FL1 First Lithium Ltd 0.1 -17% 179827 $9,558,432 JAV Javelin Minerals Ltd 0.0025 -17% 16206856 $18,756,675 MTB Mount Burgess Mining 0.01 -17% 11051070 $5,107,660 PIL Peppermint Inv Ltd 0.0025 -17% 1435000 $6,994,230 SER Strategic Energy 0.005 -17% 297800 $5,020,150 NME Nex Metals Explorat 0.022 -15% 9013 $8,717,339 FRB Firebird Metals 0.145 -15% 570632 $24,201,438 ANX Anax Metals Ltd 0.006 -14% 218880 $6,179,653 NWM Norwest Minerals 0.012 -14% 1597355 $14,421,497 PFM Platformo Ltd 0.06 -14% 26667 $6,643,581 RLG Roolife Group Ltd 0.006 -14% 2677143 $11,149,469 RNX Renegade Exploration 0.003 -14% 5180000 $5,608,272 M79 Mammothmineralsltd 0.099 -14% 509060 $51,235,717 In Case You Missed It Mammoth Minerals (ASX:M79) has rebranded and kicked off exploration at the newly acquired Excelsior Springs and Bella projects in the US. Star Minerals' (ASX:SMS) infill drilling has increased the confidence in the geological continuity of resources at its Tumblegum South gold project near Meekatharra, WA. Magnetic Resources (ASX:MAU) has taken in a $35 million backing for a strategic placement to drive its Lady Julie gold project into production. Asra Minerals (ASX:ASR) has hit 14m at 7.49g/t gold in initial RC drilling at Leonora South near Kookynie in WA, confirming shallow mineralisation. Miramar Resources (ASX:M2R) has uncovered shallow gold results from aircore drilling at the 8 Mile prospect, pointing to potential northward extensions of mineralisation. Trigg Minerals (ASX:TMG) has acquired 20 new mining claims in Utah's Antimony Canyon in a bid to tap into US interest in domestic antimony production. Trading halts Right then, to roughly paraphrase that noted financial analyst Porky Pig… "EBITDA, EBITDA, EBITDA… that's all folks."
West Australian
11 hours ago
- West Australian
RTS: Harris warns Aussie mining supremacy is under threat, while Minister King fires up on nuclear
Sandfire Resources chief executive Brendan Harris said parts of Africa and Europe are nipping at the heels of Australia as the world's premier mining jurisdiction. Meanwhile, Federal Resources Minister Madeleine King hammered another nail in the nuclear energy coffin and brushed off suggestions artificial intelligence could devastate jobs in the resources industry. Mr Harris, speaking at a Resources Technology Showcase panel, said Sandfire had avoided much of the cost inflation and regulatory approval logjams plaguing Australian mining operations in recent years. West Perth-based Sandfire, which owned the high-grade DeGrussa mine in WA until it was exhausted in 2023, has found renewed success with mines in Spain and Botswana. 'We haven't had anywhere near the level of inflationary pressure in our industry in those two locations (Spain and Botswana) over the last two to three years (compared to Australia),' Mr Harris said. 'In fact, our costs remain relatively steady. Our approvals are generally more easily obtained with the same rigor, I might add. 'But the last one, the thing I feel people need to be really aware of, is in Spain we buy 100 per cent of our power off the grid, 100 per cent carbon emissions-free. 'We haven't had to develop any of that capacity. So when we think about this as a race, somewhat, I think we just need to be careful to assume that we (Australia) are at the front of the pack.' With the panel's discussion revolving around artificial intelligence and its heavy energy requirements in the context of a decarbonising world, a fired-up Minister King emphatically ruled out nuclear energy becoming part of Australia's energy mix. The Coalition made nuclear energy a key tenet of its energy policy leading up to the May Federal election. 'It didn't get them (the Coalition) very far . . . the election was not that long ago, and we talked about it a lot. So at the moment, that's not up for re-consideration.' Minister King said it was 'reasonable' people in the mining industry were fearful of being replaced by AI but she believes the technology would enable a new tranche of 'better, safer jobs' in the industry. Caterpillar vice president of technology and global sales Corey Wurtzbacher and Hancock Iron Ore executive general manager of technology Kate Flanagan were in agreement that AI presented more opportunities than threats. '(AI is) definitely not a threat, it creates more opportunities, a higher level of performance. I'm not a technologist, but I look after a technology team — there's plenty of room in technology for everyone,' Ms Flanagan said. She said a 'Skynet' scenario reminiscent of the 1980s blockbuster film Terminator, where AI machines overpower their human creators and take control of the globe, was an 'unlikely scenario.' Mr Wurtzbacher said Caterpillar was investing big in AI and technology more broadly to enhance its offerings to mining clients across the globe. 'Caterpillar really wants to be positioned with WesTrac as to how do we really provide value to the customer, and lean in heavily with research and development to support that initiative'.
