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The ASX200 had a rough run today, every sector was down seeing the market shed 1.1 per cent to a four-week low.
In this bulletin, we’ll look at news from Droneshield, Koonenberry Gold, BMG Resources, Rio Tinto, HUB24 and Tamboran Resources.
In the green
Starting off with the big winners today… counter drone company Droneshield (ASX:DRO) ended the day up about eight per cent after reporting it had achieved a profit of $4 million before tax.
The December quarter was a record for the company, with $48 million in customer cash receipts and grants.
The quarter exceeded the previous record five-fold.
DRO closed at 40 cents.
Explorer Koonenberry Gold (ASX:KNB) gained 45 per cent after confirming final approvals had been received for a 6000m maiden air core drilling program at the Atlantis copper/gold prospect in New South Wales.
The Atlantis prospect has already delivered rock chip results of up to 15.3 per cent copper and 0.84 grams per tonne of gold.
KNB closed at 8 cents.
And, BMG Resources (ASX:BMG) gained 23 per cent after the Managing Director Bruce McCracken resigned.
While the company hunts for a replacement, Non-Executive Director John Prineas steps into the role of non-executive chair and will manage company matters.
The company is building a gold resource at the Abercromby project near Wiluna in Western Australia.
BMG closed at 1.6 cents.
In the red
Rio Tinto (ASX:RIO) took a hit today, down nearly 1.3 per cent, after releasing production results for last quarter, but also as the iron ore price has fallen 1.5 per cent over the past week due to concerns around demand.
RIO reported a two per cent boost to its Pilbara iron ore production and a three per cent rise in shipments which reached 331.8 million tonnes. Its production guidance for 2024 remains unchanged.
RIO closed at $126.66.
Investment platform provider HUB24 (ASX:HUB) was down more than two per cent despite recording net inflows of $4.5 billion last quarter. That result represented a 60 per cent increase from the previous corresponding period and included a single client transaction of $1.8 billion.
The company held more than $91 billion in Total Funds Under Administration (FUA) at the end of December – 25 per cent more than at the end of 2022.
HUB closed at $35.95.
And Beetaloo Basin gas play Tamboran Resources (ASX:TBN) was down eight per cent. It closed out a $14.2 million retail capital raising yesterday that was priced at 16 cent shares. Trade dropped in line with that, seeing Tamboran close at 17 cents.
