US stocks fell on Monday, ending a five-day winning streak as a sharp drop in cryptocurrency markets weighed on broader sentiment. The S&P 500 slipped 0.53%, the Nasdaq eased 0.38%, and the Dow fell 0.9%. Bitcoin tumbled around 6% to below $86,000 in its weakest session since March, dragging crypto-exposed stocks lower. Tech performance was mixed, with Broadcom and Super Micro Computer declining on profit-taking, while Synopsys surged after Nvidia revealed a multibillion-dollar investment. Nvidia shares also rose more than 1%. Retailers offered some support, with Ulta and Walmart advancing as holiday spending picked up and the retail ETF XRT extended its five-day gain beyond 6%.
In Australia, the ASX is set to open slightly higher, with futures up 6 points, or 0.1%, to 8589. An economic calendar will shape the local trading week, beginning with trade balance data on Tuesday and followed by quarterly GDP figures on Wednesday. Corporate attention will turn to Bank of Queensland’s annual general meeting and Collins Foods’ half-year results.
In company news,
Black Cat advances Star of Mangaroon through new JV
Black Cat Syndicate (ASX:BC8) has entered into a binding Heads of Agreement and Ore Purchase Agreement with Dreadnought Resources to develop and process ore from the high-grade Star of Mangaroon deposit. Black Cat will fund and manage up to $10m of development costs and process up to 110,000 tonnes of ore at its Paulsens plant. Surplus cashflow will be split 50/50 up to $80m, then 70/30 in Dreadnought’s favour. The arrangement provides Black Cat with strategic upside through first-rights over surrounding tenements while adding high-grade feed flexibility at Paulsens. Next steps include securing approvals by April 2026 and establishing a dedicated Black Cat entity to manage the development.
Native Mineral Resources signs Ravenswood JV to expand Blackjack throughput
Native Mineral Resources (ASX:NMR) has signed a binding term sheet with Haoma Mining to form an unincorporated joint venture over Haoma’s Ravenswood Gold Project. The six mining leases contain ~86koz of JORC 2004 resources, which NMR plans to drill, study, mine and truck to its Blackjack operations for processing. NMR will fund all operational, infrastructure and processing costs, recoup these from revenue, and then split profits 50/50 with Haoma. The model aligns with NMR’s strategy of transforming Blackjack into a regional processing hub while continuing to process ore from its own Blackjack and Far Fanning deposits.
WIN Metals confirms growth potential at Radio Gold Project
WIN Metals (ASX:WIN) reports strong new RC drilling results at the Radio Gold Project, including 1m at 10.11g/t Au and 1m at 2.32g/t Au at Repeater Deeps (>100m below surface), as well as 2m at 5.21g/t Au south of existing workings. The new intercepts confirm down-dip continuity, demonstrate that Repeater is likely an along-strike continuation of the main Radio system, and point to significant resource-growth potential. WIN is now working toward a maiden resource for Repeater and updated models for Radio and Radio South, supporting studies on near-term restart scenarios for both underground and low-cost open pit options.
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Source: Finance News Network
