Jarden shares trade | Newmont asset sale eyed | Bidding war at New Quantum

Good evening,

The Australian arm of investment bank Jarden had some good news to share in April, turning its first profit since arriving onshore. But its share price tells a different story.

That was front-of-mind for the investment bank’s employees following a share auction on Thursday morning that allowed its investors to convert to cash. Sources said the shares cleared at $9 with around 194,000 shares changing hands. This represents a substantial fall from highs of around $23 in August 2021.

Jarden’s last share auction, in the months before the New Zealand wealth deal, saw the shares trade at five-year lows of $8. The auctions are closely watched by Jarden’s current and former staff who still owe around $16 million to the company, due in April next year.

Read the full story tomorrow and more on the Street Talk page.

Newmont, the world’s top gold producer, is seeking to sell six mines including Havieron and Telfer in Western Australia.

The sharemarket notched its 10th straight session of gains, its longest winning streak since 2015, as the mining sector rebounded and investors bought rate-sensitive technology stocks.

Click here for the latest equity market wrap.