ASX Today: Stocks to watch on Thursday
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ASX Today: Stocks to watch on Thursday

Nov 09, 2023

Futures suggest the ASX will open lower today following weak tech trading on Wall Street overnight.

Elsewhere, the Bank of Canada decided to lift the nation's cash rate to a 22-year high of 4.75 per cent overnight.

Back on home soil, some ASX-listed companies with news out today include:

Queensland Pacific Metals (QPM) has inked a memorandum of understanding (MoU) with Blue Energy (BLU) for the supply of gas from BLU's Sapphire pilot test wells into QPME's recently acquired Moranbah gas project.

The company reported Blue was flaring gas from the pilot test wells on its Sapphire Block tenement, located within Queensland's Northern Bowen Basin.

"This opportunity with Blue is one of several near-term opportunities which QPME is working on to get cost-effective gas into the Moranbah infrastructure system to increase overall production," QPME CEO David Wrench said.

Shares in QPM last traded at 11 cents. Shares in BLU last traded at 3 cents.

In the materials space, Andromeda Metals (ADN) has agreed with Plantan Yamada to deliver high-quality kaolin from its Great White project into the Japanese market.

The agreement is for the supply of 25,000 tonnes of kaolin over the first three years of production.

"This agreement with a highly respected, multi-generational Japanese porcelain producer fits the company's strategic positioning and commercial strategy, in response to the tightening of global markets for high-quality kaolin," ADN CEO and Managing Director Bob Katsiouleris said.

Shares in ADN last traded at 3.9 cents.

Emmerson Resources (ERM) has appointed Mike Dunbar as its latest Managing Director and Chief Executive Officer, effective July 17 2023.

Mr Dunbar has more than 25 years’ experience in exploration, resource development and mining projects, both in Australia and overseas.

"In a competitive market we are fortunate to have secured Mike, who we consider will seamlessly take over the reins at Emmerson and focus on both advancing our current assets and seeking the next generation of discoveries," ERM Chair Andrew McIlwain said.

Shares in ERM last traded at 6.4 cents.

Meanwhile, Antisense Therapeutics (ANP) has dosed the first patient with ATL1102 or a placebo in Turkey as part of its phase IIb trial treating patients with Duchenne muscular dystrophy (DMD).

The company also reported three patients were in the screening phase of the trial, which was designed to recruit 45 male patients aged 10 to 17, across at least 12 sites in four countries.

The results from an initial 24-week treatment period are expected around the middle of 2024.

Shares in ANP last traded at 6.3 cents.

Mandrake Resources (MAN) has appointed the well-recognised drill engineering and wellsite management consultancy group, Vanoco Consulting, to aid the re-entry and sampling of wells at its Utah lithium project in the US.

The company reported the consultancy group recently managed a successful lithium drilling and sampling project in Canada.

Meanwhile, Mandrake has received bids from multiple drilling contractors for the upcoming program, with rig availability in spades for the coming months.

Shares in MAN last traded at 4.4 cents.

Queensland Pacific Metals (QPM) Blue Energy (BLU) Andromeda Metals (ADN) Emmerson Resources (ERM) Antisense Therapeutics (ANP) Mandrake Resources (MAN)