Myer sees opportunity in turning department store into loyalty giant
Myer one's loyalty program will expand with different status tiers and allow members to earn and spend points outside the retailer's own network as the department store giant attempts to build a powerhouse scheme that mirrors the Qantas frequent flyer program once run by its executive chairwoman.
Olivia Wirth was appointed to run Myer last year after turning Qantas Loyalty into a profit engine for the airline. Earlier this year, she sealed the deal to acquire a number of clothing brands – from Just Jeans to Jay Jays, Dotti and Portmans – from ASX-listed Premier Investments.
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News.com.au
4 hours ago
- News.com.au
Barry FitzGerald: Sun shines for Solstice as copper leg adds to WA gold potential
'Garimpeiro' columnist Barry FitzGerald has covered the resources industry for 35 years. Now he's sharing the benefits of his experience with Stockhead readers. Gold is where junior resource companies need to be. It's even better when they can add a copper leg to their story. That's a position Solstice Minerals (ASX:SLS) has worked its way into with its pick-up earlier this year of the advanced Nanadie copper-gold project in WA's Murchison region. The low-cost acquisition ($1m cash and some shares) came with an (inferred) mineral resource estimate of 162,000t of copper and 130,000oz of gold. The pick-up has proved well-timed as the value of copper MREs held by juniors has come in to sharp focus recently as a result of takeover bids for Xanadu Mines (ASX:XAM) and New World Resources (ASX:NWC). Both bids were at big premiums to the ruling market prices for the targets, prompting a rub-off affect on a whole bunch of other ASX juniors with copper resources in a kind of who's next response by investors. Ownership of Nanadie does not make Solstice a takeover target. But as Solstice sets about growing the resource into something much bigger, it can expect heightened interest from investors. Nanadie is essentially a copper free option in Solstice because the stock continues to trade around its pre-acquisition levels and where it was in September last year when Garimpeiro had a look at the company's Eastern Goldfields exploration hunt. The Yarri gold project is exciting under cover stuff on a big ground position straddling the Keith-Kilkenny and Laverton tectonic zones, home to multi-million ounce operations owned by others to the north and south. Edjudina discovery Solstice has already unearthed a discovery in the making at the Edjudina Range prospect, and at two nearby prospects – Statesman Well and Bluetooth – which have the potential to yield open pit MREs in quick fashion. Solstice has just reported that the first-ever reverse circulation drilling at Edjudina Range returned a 20m hit at 1.02g/t gold from 36m downhole. Early days but encouraging stuff for sure given the RC holes followed on from reconnaissance type holes that included 2m at 3.17g/t. The company has also completed a RC drilling program at Statesman Well and Bluetooth with assay results expected in the next couple of weeks. More work is planned and it has to be said that Solstice is well placed to keep up the gold momentum and get going with the drill bit at Nanadie in the back half of the year to grow its copper leg. Cash backed The momentum capability is due to Solstice being one of the best cash-backed explorers out there. At the end of the March quarter it was holding $13.6m in cash, the equivalent of 13c a share. As mentioned back in September last year, when the stock was trading at 18.5c, the strong cash-backing is a result of residual funds from the company's 2022 IPO and the sale last year of its 80% stake in the Hobbes gold deposit (177,000oz) for $10m to Northern Star Resources (ASX:NST). Gold from Hobbes is destined to be run through Northern Star's nearby Carosue Dam gold operation. Solstice's Yarri project is in the same neck of the world as Carosue Dam as well as AngloGold's Sunrise Dam mine and the Rebecca-Roe and Apollo Hill projects of Ramelius Resources (ASX:RMS) and Saturn Metals (ASX:STN) respectively. Yarri's proximity to the gold processing infrastructure in the region could well lead to another Hobbes-type deal for Solstice depending on what it comes up with at Statesman Well and Bluetooth, or Edjudina Range for that matter. Solstice managing director Nick Castleden explained the junior's modus operandi recently at the RRS Garther Round conference in Adelaide. 'Find something that is valuable, take it to a point where we have added as much value as we can, and then find someone else to mine it. That's our sweet spot.' Castleden and other directors have done it five times before at other gold companies, with the value of the deals having ranged from small stuff up to more than $1 billion, most recently the Rebecca project held by Ramelius. Now with the Nanadie copper-gold project Solstice is in the process of finding its sweet spot.
News.com.au
5 hours ago
- News.com.au
Closing Bell: ASX dodges negative sentiment to climb 0.3pc as gold stocks rally
ASX climbs 0.3pc Gold stocks surge, up almost 2pc Retail sales soften, increasing chance of RBA rate cut The Australian share market worked hard for its gains today, seesawing between negative and positive territory before making a convincing recovery after about 2pm AEST to climb 0.3%. Seven of our 11 sectors ended up crossing over into the green during all that back and forth, with the defensive stock sector Utilities leading the way. While Materials and Financials are sitting fairly middle-of-the-pack at market close, particular sub-sectors outperformed their brethren, making outsized moves on the ASX. Gold stocks left their Materials cousins in the dust, climbing 1.9% as an index while the ASX 200 Resources added only 0.01%. Ora Banda (ASX:OBM) shot up 7.51%, West African Resources (ASX:WAF) added 5.6%, Bellevue Gold (ASX:BGL) 4.21% and Resolute Mining (ASX:RSG) 3.28%. The banks also outperformed other financial stocks, although as big cap stocks the movements were a little less energetic. Westpac (ASX:WBC) jumped 2.68%, NAB (ASX:NAB) 1.33% and Commonwealth Bank (ASX:CBA) managed a positive showing of 0.87% despite some (now resolved) internet banking disruptions for its customers today. All in all, the bourse made a fairly good showing considering the reinstatement of Trump's tariffs by a US Court of Appeals overnight and disappointing Aussie retail data for April. Retail sales soften in April The ABS released its retail turnover numbers for the month of April today, which contracted by 0.1% despite lifting by 0.3% in March. 'Retail spending eased in April, particularly on clothing purchases,' ABS head of business statistics Robert Ewing said. 'Clothing retailers told us that the warmer-than-usual weather for an April month saw people holding off on buying clothing items, especially new winter season stock.' Oxford Economics lead economist Benjamin Udy said Australian consumers are wary of macroeconomic headwinds. 'Today's data shows Queenslanders returned to the shops in April, but that rebound was offset by weaker sales across all other states,' Udy said. "The weakness outside of Queensland may be related to the stalling in the recovery consumer sentiment due to rising global trade uncertainty. 'Unless consumption picks up a little more strongly in the coming months, the RBA may cut rates even sooner than we currently expect.' Yesterday, markets were pricing a 59% chance that the RBA would cut the cash rate to 3.6% at its next meeting. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Security Name Last % Change Volume Market Cap PRM Prominence Energy 0.004 100% 114700 $778,353 ERL Empire Resources 0.005 67% 554786 $4,451,740 ASP Aspermont Limited 0.008 60% 2432297 $12,365,938 1AD Adalta Limited 0.003 50% 112186 $1,286,446 ASR Asra Minerals Ltd 0.003 50% 7479385 $5,533,072 CR9 Corellares 0.003 50% 412320 $2,011,213 LOC Locatetechnologies 0.1 43% 724138 $14,083,568 TAS Tasman Resources Ltd 0.025 39% 558543 $3,314,567 CZN Corazon Ltd 0.002 33% 700000 $1,776,858 GMN Gold Mountain Ltd 0.002 33% 296327 $8,429,639 AYT Austin Metals Ltd 0.005 25% 198136 $6,296,765 BYH Bryah Resources Ltd 0.005 25% 818236 $3,479,814 EAT Entertainment 0.005 25% 23175 $5,235,144 MQR Marquee Resource Ltd 0.01 25% 1874067 $4,466,420 PRX Prodigy Gold NL 0.0025 25% 1000000 $6,350,111 RGL Riversgold 0.005 25% 228348 $6,734,850 RLG Roolife Group Ltd 0.005 25% 7657763 $6,371,125 RNX Renegade Exploration 0.0025 25% 750000 $2,576,727 VRC Volt Resources Ltd 0.005 25% 2214605 $18,739,112 WBE Whitebark Energy 0.005 25% 100006 $2,749,334 NHE Nobleheliumlimited 0.011 22% 787895 $5,395,725 RML Resolution Minerals 0.017 21% 8629662 $7,361,016 LKY Locksleyresources 0.08 21% 44328092 $9,680,000 OLL Openlearning 0.018 20% 145461 $7,240,120 AZL Arizona Lithium Ltd 0.006 20% 10117519 $26,351,572 Making news… Mining media company Aspermont (ASX:ASP) has clocked up its 35th straight quarter of subscription growth, with subs now making up 75% of total revenue. Recurring subscription revenue hit $11.2 million, up 4% year-on-year, while overall group revenue dipped 6% to $6.7 million. EBITDA was negative, but the company is still debt-free and sitting on $700k in cash. Renegade Exploration (ASX:RNX) has acquired four new gold-silver and base metal projects in the Nevada Walker Lane trend, in the US state of Nevada. With gold prices still hovering around US$3,300 an ounce, the company snapped up the licences for just US$150k, in an area responsible for 70% of domestic gold production in the US. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Security Name Last % Change Volume Market Cap BLZ Blaze Minerals Ltd 0.002 -33% 142857 $4,700,843 ICU Investor Centre Ltd 0.002 -33% 1056 $913,534 KPO Kalina Power Limited 0.004 -33% 2520373 $17,597,818 MSG Mcs Services Limited 0.004 -33% 550000 $1,188,598 OEL Otto Energy Limited 0.004 -33% 19939911 $28,770,059 AOA Ausmon Resorces 0.0015 -25% 357633 $2,622,427 BMO Bastion Minerals 0.0015 -25% 1000000 $1,807,255 OB1 Orbminco Limited 0.0015 -25% 13220340 $4,795,136 AVE Avecho Biotech Ltd 0.004 -20% 1994020 $15,867,318 C7A Clara Resources 0.004 -20% 145000 $2,558,021 WNX Wellnex Life Ltd 0.31 -19% 115162 $26,092,038 MGA Metalsgrovemining 0.066 -19% 150000 $8,539,020 PLC Premier1 Lithium Ltd 0.009 -18% 1932229 $4,048,666 DBO Diabloresources 0.014 -18% 265439 $2,296,970 BIT Biotron Limited 0.0025 -17% 210802 $3,981,738 BP8 Bph Global Ltd 0.0025 -17% 392643 $3,152,954 DAF Discovery Alaska Ltd 0.01 -17% 25000 $2,810,816 EE1 Earths Energy Ltd 0.005 -17% 100000 $3,179,785 JAV Javelin Minerals Ltd 0.0025 -17% 2850000 $18,138,447 TEG Triangle Energy Ltd 0.0025 -17% 500999 $6,267,702 CML Connected Minerals 0.13 -16% 36159 $6,410,523 CDX Cardiex Limited 0.042 -16% 616975 $20,303,194 T88 Taitonresources 0.08 -16% 12500 $7,073,451 TG1 Techgen Metals Ltd 0.023 -15% 1341405 $4,283,974 ADG Adelong Gold Limited 0.006 -14% 70299873 $9,782,403 IN CASE YOU MISSED IT Stockhead's Tylah Tully looks at White Cliff Minerals' (ASX:WCN) exploration at Danvers, where continuous, high-grade copper and silver mineralisation at surface has been confirmed. Tylah also breaks down the latest from West Coast Silver (ASX:WCE),which has started drilling to test extensions of known high-grade mineralisation at its Elizabeth Hill project in Western Australia. Trading halts At Stockhead, we tell it like it is. While White Cliff Minerals and West Coast Silver are Stockhead advertisers, they did not sponsor this article.
Perth Now
5 hours ago
- Perth Now
ASX has best month since January
Australia's sharemarket rose for the second consecutive month in May, as traders dial up the chances of a rate cut in July following weaker than expected retail sales. The benchmark ASX 200 index gained 24.90 points or 0.30 per cent on the final day of trading for May. Australia's major index has closed up 3.8 per cent in May which is the best monthly gain since January. Meanwhile the broader All Ordinaries also finished higher up 22.50 points or 0.26 per cent to finish the month at 8,660.30. The Australian dollar slipped 0.28 per cent during Friday's trading and is now buying 64.26 US cents. The ASX had its best month since May. NewsWire / Jeremy Piper Credit: News Corp Australia On an overall positive day for the market, seven of the 11 sectors finished in the green, led by consumer staples, utilities and financials. The bounce in consumer staples was led by Treasury Wine Estates up 4.07 per cent to $8.44, while the A2Milk Company rose 3.35 per cent to $8.33. The two major supermarkets also finished in the green, with Woolworths gaining 0.70 per cent to $31.85 while Coles eked out a gain of 0.28 per cent to $21.60. All four of the major banks also finished higher during Friday's trading. Westpac led the charge gaining 2.68 per cent to $32.56, NAB gained 1.33 per cent to $38.00, CBA jumped 0.87 per cent to $175.95 and ANZ finished higher up 0.41 per cent to $29.04. The gains come despite other Asian markets slumping on the back of the White House winning an administrative stay on the blockage of most of its tariffs by the US Court of International Trade. senior financial market analyst Kyle Rodda said the US market gave back its gains after the tariff news was announced. 'The caution reflects the fact that although market sentiment has been supported by the prospect of the judiciary halting arguably Presidential overreach with tariffs and trade policy, the decision marks the beginning of a new source of uncertainty rather than the total closure of another,' he said. Seven of the 11 sectors finish in the green. NewsWire / Max Mason-Hubers Credit: News Corp Australia Australia's sharemarket however was lifted on the back of weaker than expected retail sales. While this is bad for some businesses, the money markets factored in a greater chance of a rate cut in July following the announcement that retail sales fell 0.1 per cent over the month of April compared with expectations of a 0.3 per cent rise. AMP chief economist Shane Oliver said the results were surprising given Queensland was coming off a low base due to ex-Cyclone Alfred as well as most Aussies benefiting from a double Easter/Anzac Day long weekends. 'Tax and rate cuts will help but the consumer is still clearly struggling with real retail sales per person trending down so far this year after a mild rise into late last year,' he wrote in an economic note. 'The cost of living remains a problem – falling inflation is not the same thing as falling prices.' In company news, Ramsay Health Care jumped 5.89 per cent to $38.30 on the back of reports in the Newcastle Herald claiming the Australian hospital operator won approval of its new building applications in NSW. Shares in fintech Findi slumped 8.91 per cent $4.60 despite reporting a 54 per cent gain in underlying profits to $6m.
