Weekly | GMD Nears Completion of Takeover for Dacian Gold

ASX_Stars
2023-11-24

As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 7,040.80 points, down 0.12% in the past 5 days.

1. $Bellevue Gold(BGL.AU)$ +10.65%

  • The company achieved a significant milestone by commencing gold production at its Leinster mine in WA, coinciding with near-record gold prices at approximately $A3,040/oz ($US1,993/oz).

  • The anticipated revaluation as the company transitions into steady-state production will generate substantial free cash flow.

2.  $Genesis Minerals Ltd(GMD.AU)$ +9.71%

  • $Dacian Gold Ltd(DCN.AU)$ will be delisted from the ASX next Monday as Genesis Minerals' takeover offer moves to compulsory acquisition.

  • Genesis aimed to acquire the remaining 20% of Dacian shares.

3. $WHITEHAVEN COAL LTD(WHC.AU)$ +8.01%

  • British hedge fund Bell Rock Capital Management's failed to meet disclosure standards during its activist campaign against the company.

  • The Takeovers Panel found Bell Rock's inadequate disclosure of its investment in Whitehaven disrupted market efficiency and transparency for Whitehaven shares.

4. $PALADIN ENERGY LTD(PDN.AU)$ +6.70%

  • Paladin operates uranium mines and recently reported a US$11 million loss for the last financial year ending June 30, 2023.

  • Analysts predict the company will approach breakeven in 2024, projecting a shift from an expected loss in 2023 to a US$48 million profit in 2024.

  • This forecast implies a rapid growth rate of approximately 39% year-on-year.

5. $AMP LIMITED(AMP.AU)$ +6.43% 

  • AMP shares surged following the announcement of a settlement agreement regarding a class action initiated on behalf of specific advice practices authorized by AMPFP in 2019.

  • The settlement, amounting to $100 million, has been disclosed by AMP. However, the finalization, execution, and approval by the Federal Court are pending.

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Comments

  • Sonsonkok
    2023-11-26
    Sonsonkok

    Great ariticle, would you like to share it?

  • All in Tesla
    2023-11-26
    All in Tesla

    Great ariticle, would you like to share it?

  • eda
    2023-12-02
    eda

    yeah

  • AuntieAaA
    2023-11-26
    AuntieAaA
    GOOD
  • KSR
    2023-11-25
    KSR
    👍
  • Bang_Rey
    2023-11-25
    Bang_Rey
    good
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