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11 April 2019 06:50 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average26,15726,1517.000.031.97
S&P 5002,8882,87810.000.353.77
NASDAQ7,9647,90955.000.695.37
FTSE 100 Index7,4227,426-4.00-0.054.09
DAX 3011,90611,85155.000.473.14
CAC 40 Index5,4505,43613.000.253.49
Nikkei 225 (Japan)21,68821,803-115.00-0.532.66
HKSE30,12030,157-38.00-0.135.67
SSE Composite Index3,2423,2402.000.077.10
S&P/TSX Composite Index16,39616,33660.000.371.80
NZ 509,7379,70829.000.303.68
US Volatility (Vix)13
Overseas Market Report

US sharemarkets ended higher on Wednesday. Shares of Boeing fell by 1.1%, weighing on the Dow Jones index. But the Treasury Secretary noted continued progress on trade talks with China. The Dow Jones index rose by almost 7 points or less than 0.1%. The S&P500 index rose by 0.4%. And the Nasdaq index rose by 55 points or 0.7%.

Global oil prices rose on Wednesday. US crude stockpiles last week rose to their highest level since November 2017 as imports grew (up by 7 million barrels), while gasoline inventories posted the steepest drawdown since September 2017 (down 7.7 million barrels), the Energy Information Administration said. Brent crude rose by US$1.12 or 1.6% to US$71.73 a barrel and US Nymex rose by US63 cents or 1.0% to US$64.61 a barrel.

Base metal prices were mixed. Nickel and zinc rose by up to 0.9% while other metals fell by up to 1.2% with lead down the most.

The gold futures price rose by US$5.60 an ounce or 0.4% to$1,313.90 an ounce. The spot gold price was near US$1,308 an ounce in late US trade. Iron ore rose by US90 cents or 1.0% to US$94.30 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent71.7370.611.121.599.11
Oil - West Texas crude64.4064.61-0.21-0.3313.40
Gold Spot $/OZ1,308.001,308.000.100.001.14
Silver Spot $/OZ15.2015.200.00-0.02-0.52
Iron Ore87.5087.80-0.30-0.336.35
Thermal Coal Newcastle82.2081.201.001.23-13.97
Aluminium ($US/t)1,8391,851-13.00-0.68-0.31
Copper Mar-18 ($US/lb)2.922.93-0.40-0.140.74
Lead ($US/t)1,9321,956-24.00-1.20-6.80
Nickel ($US/t)13,13613,11423.000.171.02
Zinc ($US/t)2,9482,92127.000.918.22
Tin ($US/t)20,93020,967-37.00-0.18-2.29
Uranium ($US/lb)26.0026.000.000.00-7.68
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,3166,3151.000.020.85
S&P/ASX 2006,2246,2222.000.030.70
ASX 24 Futures6,194
Australian Market Report

Wednesday 10 April - close. The Australian share market has finished flat after a session in which the big banks gained and the miners lost ground, a reversal of recent patterns. The benchmark S&P/ASX200 index closed up 1.7 points, or 0.03 per cent, to 6,223.5 points at 1615 AEST on Wednesday, while the broader All Ordinaries was up one points, or 0.02 per cent, to 6,316.5.

Ashanti Headlines

Cassini Resources Limited: (CZI.ASX, 10cps, m.cap A$41.5m with 415.5 SOI, Cash $11.3m (Post Placement), Base Metals Explorer) 

  • Cassini has exercised its option to acquire 80% of the Yarawindah Brook Ni-Cu-Co-PGE Project in Western Australia
  • Yarawindah Brook Project is located 130 km n/e of Perth, on agricultural land near the township of New Norcia. The project has had limited nickel, copper and cobalt exploration, despite a favourable regional setting, prospective geology and near-surface occurrences of nickel and copper mineralisation.  Historic exploration has focussed primarily on a small platinum and palladium (PGE’s) resource which the Company views as a “pathfinder” anomaly for potential massive nickel - copper – cobalt sulphides.
  • The Company completed an airborne electromagnetic survey (AEM) over the project in early 2018 identifying numerous conductors worthy of further investigation (see announcement 2 May 2018). A surface fixed loop electromagnetic (FLEM) survey has also been completed over several of the higher priority AEM anomalies in order to confirm and better constrain the conductors prior to drilling. The FLEM has reinforced the XC05 and XC06 anomalies as priority targets along with down-plunge testing of YWRC083 (Figure 1).
  • Consideration for the acquisition is the payment of A$300,000, plus the grant of 6,072,302 options, each with a 3 year expiry date and exercisable at $0.1235, being 125% of the Company’s 20 day volume weighted average price (VWAP).
  • Cassini Managing Director, Richard Bevan said “The Yarawindah Brook Project offers Cassini a well priced entry into an exciting, early-stage exploration project that allows us to leverage our expertise in Ni Cu sulphide systems, and provides Cassini with further exposure to the evolving battery metals thematic.
  • Please contact your adviser on +61 8 6169 2668 should you wish to discuss further.


Have a question? admin@ashanticapital.com.au

ERA Communications