ASX 200 (XJO) To Open Lower, 3 ASX Shares To Watch

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.14% on Monday.

Australian Dollar ($A) (AUDUSD): 67.76US cents

Dow Jones (DJI): down 0.11%

Oil (WTI): $US53.59 per barrel

Gold: $US1,493 per ounce

ASX Sharemarket News

In ASX sharemarket news, gold miner Newcrest Mining Limited (ASX: NCM) announced that its Board has approved the execution of the first of two stages in the Cadia Expansion Project.

The two stages will cost around $865 million. The first stage will comprise PC2-3 mine development, materials handling system upgrades, associated infrastructure and the initial works to increase plant capacity to 33mt per year.

The second stage, which is still in the feasibility study stage, comprises further plant expansion to 35mt per year and recovery improvements targeting completion in late FY22, which is before the completion of PC2-3 mine development.

***

Expert Interview: Magellan's Hamish Douglass

Hamish Douglass is one of Australia's top investors and founders, having co-founded Magellan - a near $9 billion business! Listen now on iTunes, SoundcloudCastbox, YouTube or Spotify.
***

Gold miner Evolution Mining Ltd (ASX: EVN) has announced its quarterly production report.

It generated record net mine cash flow of $207.4 million, an increase of 36% on the prior quarter and record free cash flow of $158.6 million, an increase of 45% on the prior quarter. The company ended with $91.7 million of cash.

It produced 191,967 ounces at an all-in sustaining cost (AISC) of $1,018 per ounce (US$698).

FY20 guidance is unchanged at 725,000 ounces to 775,000 ounces, but AISC guidance has increased by $50 per ounce to $940 per ounce to $990 per ounce because of royalties, by-product credits and stability issues on the Mt Rawdon pit west wall.

Popular Stories:

The offer period has closed for the acquisition of Macquarie Media Ltd (ASX: MRN) shares by Nine Entertainment Co Holdings Ltd (ASX: NEC).

Nine now has over 90% of Macquarie Media, so it can now compulsorily acquire the rest of the shares on the same terms as the offer.

At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.

Free report: 3 cloud stocks to buy now

As we emerge from COVID-19, some tech companies are growing faster than ever. Rask’s investment analysts have identified 3 growth stocks set to benefit. Big time.

We’ll send you our report for free, including the names, ticker codes and analysis when you enter your email address below.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Free report: 3 cloud stocks to buy now

As we emerge from COVID-19, some tech companies are growing faster than ever. Rask’s investment analysts have identified 3 growth stocks set to benefit. Big time.

Click here to access this report for free, including the names, ticker codes and analysis.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Keep reading: