ASX seeks to calm investor anger with changes to listing rule waivers
In April, the embattled ASX began conducting a wholesale review of the nation's listing rules, following a fierce backlash over James Hardie's $13 billion purchase of American company Azek. In that instance, a waiver was granted that allowed James Hardie to bypass a shareholder vote, issue new shares and make a wildly unpopular acquisition.
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News.com.au
an hour ago
- News.com.au
Resources Top 5: Newly listed Tali Resources on West Arunta copper trail
TR2 closing in on initial drilling at the West Arunta project in WA SGQ is upscaling drilling at the Araxa rare earths and niobium project in Brazil A significant quarter saw ZNC achieve key milestones Your standout small cap resources stocks for Monday, July 28, 2025 Tali Resources (ASX:TR2) One of Australia's most exciting emerging mineral regions is the West Arunta adjoining the Northern Territory border in remote WA, where an active player is newly listed Tali Resources. The company holds a large, dominant tenure position highly prospective for copper. Exploration is being undertaken using a multi-faceted and systematic approach to explore for several different styles of mineralisation and these activities are led by an experienced leadership team with a strong track record of discovery success. There are indications of a range of intrusive-related deposit styles as well as potential IOCG and sediment-hosted copper mineralisation. While exploration is at an early stage, the company is moving toward initial drilling and shares moved 27.46% higher to a top of 65c before closing at 58c. Assisting in targeting work, Tali, which listed on July 21, is encouraged by geological modelling of available gravity, magnetic and airborne electromagnetic (AEM) datasets which confirms that the Chilka, Lonar, Maton B and Maton C prospects are priorities for drill testing. This work by geophysical consultants, Resource Potentials, has also led to the identification of Gibson East prospect for the initial drilling program. Heritage clearances and drilling approvals are in place for the reverse circulation drilling of the strong anomalies which is scheduled to start in August. 'Further geophysical modelling has highlighted Chilka, Lonar, Maton B, Maton C and Gibson East as hosting significant anomalies that justify immediate drill testing,' Tali's managing director Rhys Bradley said. 'This work has assisted with drill hole planning aimed at testing a combination of geophysical highs and lows within the prospect areas. 'We have also added a new prospect, Gibson East, to the program for drill testing. 'Chilka, Lonar and Gibson East all host large-scale, coincident to semi-coincident magnetic and gravity anomalies which are prospective for a range of intrusive-related deposit styles. 'These prospects are all located in close proximity to Pokali, a mineralised copper system with an IOCG affinity. 'The Maton prospect area contains three large-scale, late-time airborne electromagnetic anomalies. It is an area of no outcrop but is interpreted to be set within the Amadeus Basin and is considered prospective for sediment-hosted copper mineralisation. 'Site preparation activities are underway ahead of drilling which is planned to commence in August.' St George Mining (ASX:SGQ) As it looks to take advantage of the West's increasing desire to seek non-Chinese sources of critical minerals and armed with $5 million from a placement, St George Mining is upscaling drilling at the Araxa rare earths and niobium project in Brazil. This will see the company deploy three diamond rigs in a 9000m campaign with the aim of growing the globally significant rare earths and niobium resources. The Araxa rare earths resource sits at 40.6Mt grading 4.13% total rare earth oxides while the niobium resource totals 41.2Mt at 0.68% niobium. SGQ was pleased with the response to the placement to strategic investors which will see more than 131m shares issued at 3.8c per share, a 13% premium to the 30-day VWAP. It follows strong spontaneous interest from European-based investors drawn to the growing potential of the company and its Brazilian property. Shares increased 10.3% to a daily high of 4.3c with more than 81m changing hands. Araxá is a major hard rock rare earths resource, capable of offering an alternative supply chain to China's market dominance. The strong focus of St George on Araxa coincides with a surge in US demand for new rare earth supplies outside China, highlighted by major investments from the Department of Defense and Apple in US producer MP Materials. The US is also reported to be considering a trade agreement with Brazil focused on access to critical and strategic minerals St George is assessing opportunities to establish downstream partnerships in the US for rare earths processing and magnet production. Zenith Minerals (ASX:ZNC) A significant quarter which saw Zenith Minerals achieve key milestones across its gold projects resulted in shares improving 20% to 3.6c. 'The company remains firmly committed to its gold strategy, demonstrated through strategic initiatives including a A$3.5m entitlement offer, divestment of the non-core Kavaklitepe project and the strategic acquisition and drilling at Dulcie Far North and Red Mountain,' managing director Andrew Smith said. 'A highlight was the acquisition of exclusive subsurface rights extending approximately 3km south of the Dulcie Far North project. This acquisition considerably expands the scale and resource growth potential of Zenith's consolidated Dulcie Gold Project. 'The company also completed a 37-hole RC drilling campaign at Dulcie Far North, resulting in an updated inferred resource of 8.2 Mt at 1.15 g/t Au for 302,000oz, representing a 41% increase and further underpinning Zenith's growing gold portfolio. 'At Red Mountain, the company advanced key exploration targets, with a planned ~3,000m diamond drilling campaign supported by a maximum grant of $275,000 from the Queensland Government's Collaborative Exploration Initiative, targeting significant gold with associated copper-molybdenum.' Cyclone Metals (ASX:CLE) Cyclone Metals is making strong progress as it moves to develop its flagship Iron Bear project, a world-class large-scale iron ore asset in Canada's Labrador Trough, and shares hit a three-year high of 8.1c, a lift of 14.1% During the June quarter the company received a power study completed by global engineering consultancy firm Hatch which identified and quantified technical solutions for the supply of 100% renewable energy for the Iron Bear mining and concentrator complex and the adjacent city of Schefferville, including hydropower and wind power. Further metallurgical testwork was completed with positive outcomes and the first stage of terrestrial and hydrology field surveys was successfully completed. Key upcoming milestones are the release of a scoping study and a de-risking rail study. 'We are confident that the Iron Bear Project will deliver substantial benefits for all the key stakeholders, including our shareholders and local communities, as we work closely with our partner Vale, to develop a sustainable mining operation powered by cutting edge technologies and renewable energy,' CEO and executive director Paul Berend said. Macarthur Minerals (ASX:MIO) Iron ore focused Macarthur Minerals has extended the closing date for its pro-rata non-renounceable entitlement offer to raise up to A$2m until Thursday, July 31, 2025, and shares reached 1.9c, an increase of 26.67% on the previous close, before ending the day at 1.6c. Eligible shareholders will be entitled to subscribe for one new share for every two existing shares held at an issue price 2c per share. For every two new shares subscribed, shareholders will receive one free attaching option, exercisable at 3c and expiring two years from the date of issue. The offer is underwritten by Gold Valley Yilgarn to A$2m. The underwriter has agreed to subscribe for up to 100m new shares and attaching options and is solely responsible for subscribing for any shortfall shares and options that may arise under the offer. Proceeds will be used to support the company's corporate operations and the ongoing evaluation of strategic options for its Lake Giles iron project.
AU Financial Review
an hour ago
- AU Financial Review
WiseTech's new CEO sucks up to the top
WiseTech's Richard White caused another ripple in the market first thing on Monday by announcing the company's new permanent CEO would be Zubin Appoo. It's not just that the 44-year-old has never been a chief executive of an ASX-listed firm, or as our sister column Chanticleer pointed out, his last role was with a church-affiliated carer website, but Appoo only recently returned to the company where he last worked in 2018.
7NEWS
an hour ago
- 7NEWS
Petrol power is enjoying a resurgence at General Motors
General Motors was increasingly going down the path of having V8-powered full-size pickups and SUVs, but using electric power for almost everything else. Its Buick and Cadillac brands, for example, had goals of going electric-only by 2030, while myriad combustion-powered models were being phased out. However, GM Authority reports the American giant is now putting new combustion-powered vehicles into development. It's also reportedly evaluating new variants of existing combustion-powered vehicles – something that could see it introduce, for example, performance-focused pickups to take on Ford's Raptor models. CarExpert can save you thousands on a new car. Click here to get a great deal. ABOVE: Chevrolet Silverado ZR2 It's unclear what new combustion-powered models GM may develop, though it currently doesn't have a unibody (car-based) ute to rival the Ford Maverick and no longer has a pony car to rival the Ford Mustang (following the axing of the Chevrolet Camaro). It also doesn't have a body-on-frame off-roader smaller than its Chevrolet Tahoe/ GMC Yukon to take on the Toyota 4Runner and LandCruiser 250 Series (sold as the Prado here), apart from the ageing Chevrolet Trailblazer in Latin America. The change in strategy comes as fuel prices remain low in the US, while emissions regulations have been softened under the Trump administration. Of course, GM still has a bevy of electric vehicles (EVs) and is crowing about its Chevrolet brand being the second biggest seller of EVs in the US market. But GM had been more aggressive than many brands in phasing out combustion-powered vehicles in favour of EVs. ABOVE: American Cadillac XT5 and (new) Chinese XT5 For example, the Chevrolet Blazer and Cadillac XT4, XT5 and XT6 crossover SUVs were all being phased out in favour of electric replacements – the Blazer EV, Optiq, Lyriq and Vistiq, respectively. Likewise, the Cadillac CT4 and CT5 sedans were expected to be replaced by one or two electric sedans, while the Chevrolet Malibu sedan has been axed outright. While none of these combustion-powered vehicles top the sales charts in their respective segments, many have been strong sellers at one point or another in their run. However, in June, GM announced it would add production of the combustion-powered Blazer to its Spring Hill, Tennessee plant in 2027 – a somewhat odd move, given the now six-year-old vehicle was set to be phased out. ABOVE: Chevrolet Blazer and Blazer EV Now, GM Authority reports it'll be a next-generation Blazer being manufactured in Spring Hill. Whether this means the new second-generation XT5 sold in China – previously slated to be a Chinese-market exclusive vehicle – will be offered in the US remains to be seen. It's not just the new XT5 that's exclusive to China. GM has developed a handful of new-generation combustion-powered vehicles for China that it hasn't offered in its home market. That includes the Cadillac GT4 and second-generation CT6. However, GM has struggled in China of late as resurgent domestic brands offering increasingly sophisticated products have eaten away both at its market share and that of many other foreign brands. It's now losing money there, despite the Chinese market once being a cash cow. ABOVE: Cadillac Lyriq With GM having reduced its global footprint through the sale of Opel/Vauxhall and a large-scale (if not complete) withdrawal from right-hand drive production that spelled the end of Holden, among other strategic moves, its home market has now become even more important. And despite EV sales continuing to grow in the US, the world's second-largest new-car market, there's still healthy demand for combustion-powered vehicles. GM has been pulling back somewhat from its previous bold EV goals. For example, it confirmed this year its Orion Assembly Plant in Michigan that was earmarked for EV production will now produce combustion-powered vehicles, while it will also introduce plug-in hybrids – technology it was previously planning to skip over. However, it's investing in new battery developments
