UK to spend billions on drones, nuclear subs for war readiness
London | UK Prime Minister Keir Starmer vowed on Monday (Tuesday AEST) to bring his country to 'war-fighting readiness', confirming plans to build up to 12 new attack submarines and invest billions of pounds in weapons, to fortify for a world caught between a hostile, aggressive Russia and a retrenching United States.
The ambitious rearmament is part of a strategic defence review by the government, which laid out the threatening new landscape and called for increased production of drones and the stockpiling of more munitions and equipment.
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Herald Sun
5 hours ago
- Herald Sun
ASX edges up as IperionX scores US deal
ASX creeps lower despite miners lifting Lynas pops 8pc on China rare earths squeeze IperionX lands $152m Pentagon titanium deal The ASX inched lower by 0.1% at lunch time AEST on Thursday. Miners such as Fortescue (ASX:FMG), which was up by 1%, did the heavy lifting. And Lynas (ASX:LYC) went ballistic, up 10%, after a bit of good news for the rare earths space. Turns out some of Europe's biggest carmakers are starting to feel the pinch from China's rare earths export controls, and Lynas is quickly shaping up as a reliable alternative in a tightening market. In the US overnight, bond yields sank as traders piled into bets that the Fed might deliver not just one, but two rate cuts this year. September is looking like a sure thing now, and you could almost hear the doves cooing from Capitol Hill. Tech sentiment, meanwhile took a wobble after Apple was downgraded by Needham, who reckons it's falling behind in the AI race. Tesla dropped over 3% after Elon Musk went on a full-tilt political offensive, blasting Trump's new tax plan as a 'disgusting abomination' and telling Americans to 'kill the bill.' Back home to the ASX, where just five of 11 sectors were flashing green. Source: Market Index The headline of the morning came from $1.4bn market-capped IperionX (ASX:IPX), the titanium player that just scored a golden ticket from the Pentagon. Shares in IperionX rocketed 21% after the company locked in a contract worth up to US$99 million with the US Department of Defense. It's a Phase III SBIR deal, what it really means is IPX has graduated from R&D to full-blown production. The first orders will focus on titanium fasteners for defence agencies, with all the kit built at its plant in Virginia. It's a big nod of confidence for Iperion X, and a win for the US as it tries to wean itself off foreign suppliers. Meanwhile, Magellan Financial Group (ASX:MFG) kept bleeding, but at least it's not gushing anymore. The fundie has just posted $400 million in outflows for May, down from $1 billion the month before. Assets under management inched higher across most of its strategies, with infrastructure holding steady. Total AUM now sits at $39.3 billion. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for June 5 : Security Description Last % Volume MktCap EV1 Evolutionenergy 0.014 75% 2,147,660 $2,901,204 ADD Adavale Resource Ltd 0.002 50% 400,066 $2,287,279 AUH Austchina Holdings 0.002 50% 27,230 $3,025,384 AOA Ausmon Resorces 0.002 33% 375,000 $1,966,820 EEL Enrg Elements Ltd 0.002 33% 1,000,000 $4,880,668 ZEU Zeus Resources Ltd 0.012 33% 12,469,218 $5,766,058 GTR Gti Energy Ltd 0.005 29% 33,710,486 $10,496,324 EDE Eden Inv Ltd 0.003 25% 2,498,367 $8,219,762 ENT Enterprise Metals 0.003 25% 100,108 $2,356,635 ENV Enova Mining Limited 0.010 25% 44,085,113 $11,308,006 OLI Oliver'S Real Food 0.005 25% 30,000 $2,162,928 TMX Terrain Minerals 0.003 25% 22,788 $4,497,113 ION Iondrive Limited 0.027 23% 5,953,328 $26,022,399 LAM Laramide Res Ltd 0.875 22% 580 $14,828,157 CDE Codeifai Limited 0.017 21% 992,179 $4,564,445 IRX Inhalerx Limited 0.040 21% 1,221,477 $7,043,791 HWK Hawk Resources. 0.018 20% 2,008,040 $4,063,942 ATX Amplia Therapeutics 0.060 20% 5,836,140 $19,397,633 ALY Alchemy Resource Ltd 0.006 20% 871,491 $5,890,381 OMG OMG Group Limited 0.006 20% 966,720 $3,641,474 PER Percheron 0.012 20% 3,787,762 $10,874,376 TEG Triangle Energy Ltd 0.003 20% 2,550,000 $5,223,085 GTI Energy (ASX:GTR) says early numbers from its Lo Herma uranium project in Wyoming look promising, pointing to a potential low-cost in-situ recovery (ISR) operation producing around 800,000 pounds of uranium a year. The scoping study was run by Wyoming-based experts BRS Engineering and outlines a seven-year plan with a total production target of nearly 6 million pounds. It's still early days, though – most of the resource is in the lower-confidence 'Inferred' category, so there's no guarantee the uranium's all there or that it'll stack up economically just yet. FireFly Metals (ASX:FFM) has locked in a C$25.8 million (~A$28.8m) funding deal with BMO in Canada and another $46 million from Aussie investors through placements and a share purchase plan. The funds will go towards advancing its Green Bay copper-gold project in Canada, including underground development, drilling, and pre-construction work. It's a big step forward as it looks to push Green Bay closer to production. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for June 5 : Code Name Price % Change Volume Market Cap OVT Ovanti Limited 0.002 -33% 3,711,682 $8,380,545 PIL Peppermint Inv Ltd 0.002 -33% 2,830,000 $6,828,269 GMN Gold Mountain Ltd 0.002 -25% 1,347,106 $11,239,518 AVE Avecho Biotech Ltd 0.004 -20% 655,257 $15,867,318 MEM Memphasys Ltd 0.004 -20% 30,805 $9,917,991 1AD Adalta Limited 0.003 -17% 5,146,114 $3,020,120 AJL AJ Lucas Group 0.005 -17% 624,546 $8,254,378 IFG Infocusgroup Hldltd 0.005 -17% 2,989 $1,655,771 JAV Javelin Minerals Ltd 0.003 -17% 537,500 $18,378,447 RFT Rectifier Technolog 0.005 -17% 20,000 $8,291,904 EPM Eclipse Metals 0.016 -16% 18,423,152 $54,450,562 QEM QEM Limited 0.051 -15% 57,568 $11,450,021 RDN Raiden Resources Ltd 0.006 -14% 2,515,475 $24,156,240 SRJ SRJ Technologies 0.012 -14% 769,489 $8,478,093 PEB Pacific Edge 0.091 -13% 2,752 $85,251,177 OLY Olympio Metals Ltd 0.034 -13% 579,499 $3,434,625 AVW Avira Resources Ltd 0.007 -13% 17,217 $1,754,286 KLI Killiresources 0.028 -13% 97,087 $4,487,160 PNT Panthermetalsltd 0.014 -13% 798,024 $4,814,473 WCE Westcoastsilver Ltd 0.080 -11% 1,807,262 $23,410,888 WWG Wisewaygroupltd 0.160 -11% 12,954 $30,123,575 ANX Anax Metals Ltd 0.008 -11% 1,596,673 $7,945,268 LCY Legacy Iron Ore 0.008 -11% 25,000 $87,858,383 Tyro Payments (ASX:TYR) crashed 11% after announcing that CEO Jon Davey is stepping down. He's been offered a new private equity gig, based in Melbourne. Davey's been with Tyro since 2021, arriving via the Medipass acquisition and moving into the top job the following year. He'll hang around for up to six months to help with the handover. IN CASE YOU MISSED IT Two collaborative drilling grants totalling $400,000 have been awarded to Red Metal (ASX:RDM) to test targets across the Gulf and Three Ways copper-gold assets. Challenger Gold (ASX:CEL) has rolled out a toll treatment PFS that reveals a low-cost, near-term production path at Hualilán in Argentina. Challenger also raised $34.5 million to advance its Hualilan gold project into production, with first cash flows expected soon. Nordic Resources (ASX:NNL) has some intriguing projects with close to 1Moz gold in its portfolio after completing its Finnish acquisitions. Locksley Resources (ASX:LKY) is progressing tenders for upcoming drilling at its El Campo rare earths prospect in California after being awarded drill permits. Assays from White Cliff Minerals' (ASX:WCN) maiden RC drilling at the Rae project in Canada have returned 105m at 2.25% copper with higher-grade intervals up to 3.93%. DY6 Metals (ASX:DY6) has got first boots on the ground at its rutile projects in Cameroon in preparation of a maiden campaign. Future Battery Minerals (ASX:FBM) is increasing its gold footprint near Coolgardie by applying for seven new contiguous tenement applications at Burbanks East. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as Lunch Wrap: ASX creeps lower as IperionX lands Pentagon payday
News.com.au
6 hours ago
- News.com.au
Lunch Wrap: ASX creeps lower as IperionX lands Pentagon payday
ASX creeps lower despite miners lifting Lynas pops 8pc on China rare earths squeeze IperionX lands $152m Pentagon titanium deal The ASX inched lower by 0.1% at lunch time AEST on Thursday. Miners such as Fortescue (ASX:FMG), which was up by 1%, did the heavy lifting. And Lynas (ASX:LYC) went ballistic, up 10%, after a bit of good news for the rare earths space. Turns out some of Europe's biggest carmakers are starting to feel the pinch from China's rare earths export controls, and Lynas is quickly shaping up as a reliable alternative in a tightening market. In the US overnight, bond yields sank as traders piled into bets that the Fed might deliver not just one, but two rate cuts this year. September is looking like a sure thing now, and you could almost hear the doves cooing from Capitol Hill. Tech sentiment, meanwhile took a wobble after Apple was downgraded by Needham, who reckons it's falling behind in the AI race. Tesla dropped over 3% after Elon Musk went on a full-tilt political offensive, blasting Trump's new tax plan as a 'disgusting abomination' and telling Americans to 'kill the bill.' Back home to the ASX, where just five of 11 sectors were flashing green. The headline of the morning came from $1.4bn market-capped IperionX (ASX:IPX), the titanium player that just scored a golden ticket from the Pentagon. Shares in IperionX rocketed 21% after the company locked in a contract worth up to US$99 million with the US Department of Defense. It's a Phase III SBIR deal, what it really means is IPX has graduated from R&D to full-blown production. The first orders will focus on titanium fasteners for defence agencies, with all the kit built at its plant in Virginia. It's a big nod of confidence for Iperion X, and a win for the US as it tries to wean itself off foreign suppliers. Meanwhile, Magellan Financial Group (ASX:MFG) kept bleeding, but at least it's not gushing anymore. The fundie has just posted $400 million in outflows for May, down from $1 billion the month before. Assets under management inched higher across most of its strategies, with infrastructure holding steady. Total AUM now sits at $39.3 billion. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for June 5 : Security Description Last % Volume MktCap EV1 Evolutionenergy 0.014 75% 2,147,660 $2,901,204 ADD Adavale Resource Ltd 0.002 50% 400,066 $2,287,279 AUH Austchina Holdings 0.002 50% 27,230 $3,025,384 AOA Ausmon Resorces 0.002 33% 375,000 $1,966,820 EEL Enrg Elements Ltd 0.002 33% 1,000,000 $4,880,668 ZEU Zeus Resources Ltd 0.012 33% 12,469,218 $5,766,058 GTR Gti Energy Ltd 0.005 29% 33,710,486 $10,496,324 EDE Eden Inv Ltd 0.003 25% 2,498,367 $8,219,762 ENT Enterprise Metals 0.003 25% 100,108 $2,356,635 ENV Enova Mining Limited 0.010 25% 44,085,113 $11,308,006 OLI Oliver'S Real Food 0.005 25% 30,000 $2,162,928 TMX Terrain Minerals 0.003 25% 22,788 $4,497,113 ION Iondrive Limited 0.027 23% 5,953,328 $26,022,399 LAM Laramide Res Ltd 0.875 22% 580 $14,828,157 CDE Codeifai Limited 0.017 21% 992,179 $4,564,445 IRX Inhalerx Limited 0.040 21% 1,221,477 $7,043,791 HWK Hawk Resources. 0.018 20% 2,008,040 $4,063,942 ATX Amplia Therapeutics 0.060 20% 5,836,140 $19,397,633 ALY Alchemy Resource Ltd 0.006 20% 871,491 $5,890,381 OMG OMG Group Limited 0.006 20% 966,720 $3,641,474 PER Percheron 0.012 20% 3,787,762 $10,874,376 TEG Triangle Energy Ltd 0.003 20% 2,550,000 $5,223,085 GTI Energy (ASX:GTR) says early numbers from its Lo Herma uranium project in Wyoming look promising, pointing to a potential low-cost in-situ recovery (ISR) operation producing around 800,000 pounds of uranium a year. The scoping study was run by Wyoming-based experts BRS Engineering and outlines a seven-year plan with a total production target of nearly 6 million pounds. It's still early days, though – most of the resource is in the lower-confidence 'Inferred' category, so there's no guarantee the uranium's all there or that it'll stack up economically just yet. FireFly Metals (ASX:FFM) has locked in a C$25.8 million (~A$28.8m) funding deal with BMO in Canada and another $46 million from Aussie investors through placements and a share purchase plan. The funds will go towards advancing its Green Bay copper-gold project in Canada, including underground development, drilling, and pre-construction work. It's a big step forward as it looks to push Green Bay closer to production. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for June 5 : Code Name Price % Change Volume Market Cap OVT Ovanti Limited 0.002 -33% 3,711,682 $8,380,545 PIL Peppermint Inv Ltd 0.002 -33% 2,830,000 $6,828,269 GMN Gold Mountain Ltd 0.002 -25% 1,347,106 $11,239,518 AVE Avecho Biotech Ltd 0.004 -20% 655,257 $15,867,318 MEM Memphasys Ltd 0.004 -20% 30,805 $9,917,991 1AD Adalta Limited 0.003 -17% 5,146,114 $3,020,120 AJL AJ Lucas Group 0.005 -17% 624,546 $8,254,378 IFG Infocusgroup Hldltd 0.005 -17% 2,989 $1,655,771 JAV Javelin Minerals Ltd 0.003 -17% 537,500 $18,378,447 RFT Rectifier Technolog 0.005 -17% 20,000 $8,291,904 EPM Eclipse Metals 0.016 -16% 18,423,152 $54,450,562 QEM QEM Limited 0.051 -15% 57,568 $11,450,021 RDN Raiden Resources Ltd 0.006 -14% 2,515,475 $24,156,240 SRJ SRJ Technologies 0.012 -14% 769,489 $8,478,093 PEB Pacific Edge 0.091 -13% 2,752 $85,251,177 OLY Olympio Metals Ltd 0.034 -13% 579,499 $3,434,625 AVW Avira Resources Ltd 0.007 -13% 17,217 $1,754,286 KLI Killiresources 0.028 -13% 97,087 $4,487,160 PNT Panthermetalsltd 0.014 -13% 798,024 $4,814,473 WCE Westcoastsilver Ltd 0.080 -11% 1,807,262 $23,410,888 WWG Wisewaygroupltd 0.160 -11% 12,954 $30,123,575 ANX Anax Metals Ltd 0.008 -11% 1,596,673 $7,945,268 LCY Legacy Iron Ore 0.008 -11% 25,000 $87,858,383 Tyro Payments (ASX:TYR) crashed 11% after announcing that CEO Jon Davey is stepping down. He's been offered a new private equity gig, based in Melbourne. Davey's been with Tyro since 2021, arriving via the Medipass acquisition and moving into the top job the following year. He'll hang around for up to six months to help with the handover. IN CASE YOU MISSED IT Two collaborative drilling grants totalling $400,000 have been awarded to Red Metal (ASX:RDM) to test targets across the Gulf and Three Ways copper-gold assets. Challenger also raised $34.5 million to advance its Hualilan gold project into production, with first cash flows expected soon. Locksley Resources (ASX:LKY) is progressing tenders for upcoming drilling at its El Campo rare earths prospect in California after being awarded drill permits.
AU Financial Review
9 hours ago
- AU Financial Review
Trump signs executive action banning travel from 12 countries
Washington | President Donald Trump on Wednesday (Thursday AEST) signed a proclamation that bans individuals from 12 countries from entering the US, reinstating one of the most controversial and defining measures from his first term after an attack in Boulder, Colorado, that targeted a march supporting Israeli hostages. The second-term travel ban covers Afghanistan, Myanmar, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. The measure also partially limits entry of people from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela.
