Weekly | WBT & WHC secure key deals; GMD will acquire DCN!

As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 6,900.70 points, down 2.13% in the past 5 days.

During the last 5 trading days,  $Weebit Nano(WBT.AU)$ was up 24.92%; $WHITEHAVEN COAL LTD(WHC.AU)$ added 12.37%; $Capricorn Metals(CMM.AU)$ was up 12.12%; $Northern Star Resources(NST.AU)$ rose 9.77%; and $Genesis Minerals Ltd(GMD.AU)$ increased 9.68%.

1. $Weebit Nano(WBT.AU)$ surges 25% after securing key license deal with DB HiTek, boosting future prospects

• Weebit Nano Ltd (WBT), an Australian semiconductor company, shares increased by 25% in the two days following the announcement of a license deal with DB HiTek, one of the world's largest foundries.  

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• Weebit Nano's value is highly dependent on its ability to secure such license deals, and these agreements play a crucial role in determining the company's future success.

2. $WHITEHAVEN COAL LTD(WHC.AU)$ secures BHP mines in $3.5b bid; Analysts raise PT to A$10.00

BHP recently confirms Whitehaven Coal as the preferred bidder in the divestment process of Daunia and Blackwater mines.

• Whitehaven bid $3.5 billion for the two coking coal mines, slightly higher than the estimated combined value of $3.3 billion according to UBS.

• Whitehaven has ample cash reserves, with $2.65 billion net cash on its balance sheet as of June 30.

• The added value from the deal, has led analysts to raise their PT for Whitehaven Coal to AUD 10.00 per share, up from AUD 9.50.

3. $Capricorn Metals(CMM.AU)$ rises amid soaring gold prices

Capricorn Metals, an Australian based gold producer headquartered in Western Australia, rose this week along with the surging gold prices.

• $Gold - main 2312(GCmain)$ rises to $1993, a 4-week high, amid rising geopolitical risks which spur safe-haven demand for the precious metal.

• Analysts says if the geopolitical situation gets gloomier, there is a good chance that gold prices could go to the $2,000 levels this year.

4. $Northern Star Resources(NST.AU)$ maintains full-year gold sales guidance despite soft first-quarter production

Northern Star Resources reported a soft first-quarter production due to planned shutdowns at three production centers.

• Despite the slowdown in production, Northern Star Resources maintains its full-year guidance of selling between 1,600,000 to 1,750,000 ounces of gold.

5. $Genesis Minerals Ltd(GMD.AU)$ aims to acquire full ownership of $Dacian Gold Ltd(DCN.AU)$

Genesis Minerals is making a move to acquire the remaining 20% of $Dacian Gold Ltd(DCN.AU)$.

• Genesis has slowly accumulated interest in Dacian, becoming its largest shareholder. $Dacian Gold Ltd(DCN.AU)$ also experienced a significant increase, soaring 136% percent to A$0.295.

• Genesis Minerals has issued a bidder's statement, offering Dacian shareholders 0.1685 GMD shares for every share held.

• The Independent Dacian Directors unanimously recommended that Dacian shareholders accept the offer.