Australia's critical budget to create a renewable energy superpower
Federal budget: critical minerals a focus as Australia seeks to become renewable energy superpower
The Australian economy is expected to outperform all major advanced economies but is slowing in the face of a deteriorating global economy, high inflation, and high interest rates, according to the federal government’s May budget.
Released last night (9 May), the Budget 2023-24, which is titled Stronger foundations for a better future, notes that cost-of-living pressures are squeezing households and slowing domestic demand. Real GDP growth is expected to slow to 1.5% in 2023–24, before recovering in 2024–25. The government says more jobs are being created and the unemployment rate is expected to stay low by historical standards.
In what could be a boon for the mining industry, the federal government announced in the budget that it is making moves for Australia to become a ‘renewable energy superpower’. And it has committed to investing into the critical minerals sector.
Unlocking the power of tomorrow: Pan Asia and Anadara discuss the exciting future of lithium
Pan Asia Metals (ASX:PAM) has been on the radar of global boutique financial services firm Viriathus Capital and its funds management division Anadara Asset Management for some time.
In 2021 when the battery and critical metals explorer was tapping investors for cash, Viriathus Capital was retained as lead manager.
It reprised that role again in January this year when Pan Asia Metals raised $4.5 million through a private placement.
Group 6 Metals’ top 4 shareholders commit to providing lion’s share of $30 million capital raise
Group 6 Metals (ASX:G6M) has received strong support for its capital raising, securing binding commitments from new and existing sophisticated, professional, and institutional investors to raise a minimum of $30 million.
The company has also received commitments for $3 million in underwriting for a Share Purchase Plan (SPP) providing the runway to progress operations towards positive cash flow.
Group 6 Metals reports the placement and SPP have been strongly supported by existing shareholders, with $21 million in funds raised from its top 4 shareholders alone.
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Kincora Copper Limited
(ASX: KCC)
President and CEO Sam Spring discusses results from ongoing drilling at Trundle
Polymetals
(ASX: POL)
Executive Chairman David Sproule discusses the 'outstanding' drill results recorded at Endeavor
Kalamazoo Resources
(ASX: KZR)
Chairman and CEO Luke Reinehr discusses the spin-out of its lithium projects and formation of another ASX-listed company
Group 6 Metals Limited
(ASX: G6M)
MD and CEO Keith McKnight discusses how a recently completed capital raise will assist in bringing Dolphin back into production
Meteoric Resources
(ASX: MEI)
Executive Chairman Andrew Tunks discusses the ongoing diamond drilling program at Caldeira
ABx Group
(ASX: ABX) CEO and MD Mark Cooksey discusses the interim MRE for the Deep Leads-Rubble Mound Project
Forrestania Resources Ltd
(ASX: FRS)
MD Michael Anderson discusses the JV agreement executed with ALX Resources for a project in Canada
Lodestar Minerals Limited
(ASX: LSR)
MD Ed Turner discusses recent lithium results from Kangaroo Hills and outlines the company’s plans for the rest of 2023
Mining.com.au is Australia’s leading online daily Mining news service, reaching hundreds-of-thousands of mining professionals, investors, and industry participants each month. The Weekly Wrap-Up with Harry Mulholland provides listeners with a recap of the mining headlines each week.
In this episode, Harry reports on news from Kincora Copper (ASX:KCC), Polymetals Resources (ASX:POL), ABx Group (ASX:ABX), and Meteoric Resources (ASX:MEI).