The Australian share market is on track to record its first
weekly gain in three weeks, up around 1.9% so far despite a volatile five days
shaped by shifting interest rate expectations, record highs, and renewed trade
tensions. Monday’s flat start reflected mixed sector moves, with surging gold
and iron ore prices lifting miners while banks, tech and energy lagged. Gains
accelerated on Tuesday and Wednesday as the S&P/ASX 200 broke successive
records—first closing at 8770.40 and then breaching the 8800-point mark—on
broad-based strength in financials, consumer discretionary, property, and
commodities after weak US economic data boosted hopes for Federal Reserve rate
cuts. Gold miners and rare earths producers were standouts, though analysts
cautioned that elevated valuations could leave the market vulnerable during
earnings season.
On Wall St, US stocks are set to finish the week higher,
with the S&P 500 up 1.6%, the Dow Jones Industrial Average ahead 0.9%, and
the Nasdaq Composite leading gains with a 2.9% rise as of Thursday’s close.
In Friday’s company news,
VRX Silica wins key mining approval for Arrowsmith North
VRX Silica (ASX:VRX) has received Department of Mines,
Petroleum and Exploration approval for its Mining Proposal and Mine Closure
Plan at the 100%-owned Arrowsmith North Silica Sand Project in WA. This
approval clears the way for mining to commence once environmental approval is
granted by the Minister for the Environment. Arrowsmith North contains a
globally significant deposit of high-purity silica sand with a projected
25-year mine life, targeting the foundry and glass markets in Asia. The project
has strong stakeholder support and is expected to deliver long-term employment
and royalties
Greenvale Energy expands Douglas River Uranium Project
Greenvale Energy (ASX:GRV) has expanded its Douglas River
Uranium Project in the Northern Territory by acquiring two additional
exploration licence applications, increasing the total project area to about
1,216km². The project lies in the Pine Creek Orogen, which hosts significant
uranium resources. Greenvale sees potential for shallow, sandstone-hosted
uranium similar to the nearby Thunderball deposit. The company has withdrawn
from its Tobermorey Project and will prioritise exploration at Elkedra, Henbury
and the expanded Douglas River area, with reconnaissance and landholder
engagement planned in the coming months
NNZ-2591 pipeline
Neuren Pharmaceuticals (ASX:NEU) has added SYNGAP1-related
disorder (SRD) to the development program for its drug candidate NNZ-2591 after
positive pre-clinical results. SRD, caused by variants in the SYNGAP1 gene,
leads to a range of neurological issues including intellectual disability,
epilepsy, and autism spectrum disorder. There are no approved treatments for
SRD, which affects about 1 in 16,000 individuals. NNZ-2591 reversed neuronal
dysfunction in a lab model of SRD, and Neuren is also preparing a Phase 3 trial
of the drug for Phelan-McDermid syndrome.
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Source: Finance News Network
