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The ASX is expected to follow Wall Streets’ upward trend on Friday. It comes after a positive session overnight spurred by tech stocks, namely Tesla, Amazon and Apple.
Nonetheless, here are some ASX-listed companies to watch out for today:
Peak Rare Earths (PEK) has launched a new exploration program at its Ngualla rare earth project in Tanzania.
The program is designed to assess the critical mineral potential at Ngualla, which the company reports is a large carbonatite system that hosts one of the world’s highest-grade undeveloped rare earth deposits.
It will include around 4000 metres of reverse circulation (RC) drilling, expected to cost the company approximately $1.5 million, which is funded by PEK’s recent capital raising.
Shares in PEK last traded at 50 cents.
Also in the materials space, Battery Minerals (BAT) has struck intrusion-related gold (IRG) mineralisation at the Coxs Find prospect within its Stavely-Stawell project in Victoria.
The company reported diamond drilling was progressing, testing priority gold targets at its Coxs Find, Frankfurt and Cosmopolitan prospects.
BAT anticipates aircore drilling results in mid-June, diamond drilling results in late June, and ongoing geophysical results due throughout June and early July.
Shares in BAT last traded at 0.3 cents.
Limeade (LME) has entered an agreement for WebMD to acquire the company, securing the company at an enterprise value of $112 million.
The company reported the offer price was 42.5 cents per LME share/CDI, representing a 325 per cent premium to the last traded price of LME shares.
Through this, Limeade would become a subsidiary of WebMD, with the merger subject to holders of a majority of LME shares and other conditions.
Shares in LME last traded at 10 cents.
Meanwhile, Codrus Minerals (CDR) has announced the discovery of a significant clay-hosted rare earths system at its recently acquired Karloning project in WA.
It came off the back of a maiden RC drill program, which included 13 holes for 1906 metres.
The company reported that all holes which intersected the clay zone returned enriched clay-hosted REE mineralisation across multiple high-grade REE intercepts, highlighting the project’s growth potential.
Shares in CDR last traded at 16.5 cents.
VRX Silica’s (VRX) environmental review document for its Arrowsmith North Silica sand project in WA has been accepted by the Department of Water and Environmental Regulation (DWER).
It marks a significant milestone in the environmental approvals process for the company, with the public review period to span over four weeks starting June 19.
The company reported it was the final step before the Environmental Protection Authority of Western Australia could prepare an assessment report on whether its Proposal should be approved.
Shares in VRX last traded at 11 cents.
