ASX Lunch Wrap: Tech, gold, energy stocks rally; Petratherm hits high-grade titanium in SA

ASX opens higher: energy stocks lead gains
Petratherm hits high-grade titanium in South Australia
US justice department seeks Google Chrome sale, Android changes

The ASX kicked off Tuesday on a positive note, with tech stocks leading the charge as the benchmark S&P/ASX 200 Index edged up by 0.9% at 12.45pm AEST.

Tech was lifted by $8 billion market capped Technology One (ASX:TNE), which rose 12% after reporting an 18% increase in profit and a 20% rise in Annual Recurring Revenue (ARR) in FY24.

Goldies were the best performing sub-sector.

Energy stocks also lifted after crude oil prices surged overnight, driven by escalating geopolitical tensions and a weakening US dollar.

Woodside Energy Group (ASX:WDS) and Santos (ASX:STO) both saw gains this morning, up by over 1% each.

At its Investor Day today, Santos announced plans to increase returns to shareholders starting in 2026, once its major projects in the Timor Sea and Alaska begin production.

Another company under the spotlight today was Newmont Corporation (ASX:NEM), the world’s largest gold producer.

Newmont announced it would sell its Musselwhite mine in Canada for up to US$850 million as part of its ongoing strategy to streamline its operations and focus on higher-return assets. Shares rose over 2%.

In other news, Mineral Resources (ASX:MIN) announced a bit of a shake-up in its boardroom, with the resignation of its joint company secretary Jenna Mazza, who will transition into a legal counsel role.

The company is still reeling from reputational damage following corporate governance issues surrounding its founder, Chris Ellison. MIN fell over 1%.

NOT THE ASX

Bitcoin briefly flirted with the US$92,000 mark before settling at around the US$91,000 handle, at this time of writing.

Overnight, Wall Street saw a bit of a recovery, with most US stocks ticking higher after last week’s sharp slide.

Just in the last hour or so, news broke that the US Justice Department is pushing for Google to sell off its Chrome browser in an effort to break its search engine monopoly.

Also, the DoJ plans to recommend changes to Google’s Android operating system and its use of data from signed-in users to target ads.

Google argues that these proposals would harm consumers and developers. The case is set to continue through court in 2025, with Google planning to appeal.

In other stocks news, Liberty Energy jumped by 5% after its CEO was named Secretary of Energy by Donald Trump.

Spirit Airlines’ stock was halted after it reached an agreement with its creditors to go through Chapter 11 bankruptcy protection.

And this week, the market is looking ahead to several big-name companies releasing their latest earnings reports. Nvidia is set to report on Wednesday, US time.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for November 19 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Code	Name	Price	% Change	Volume	Market Cap
OLY	Olympio Metals Ltd	0.056	65%	101,951	$2,923,200
PTR	Petratherm Ltd	0.080	60%	12,394,586	$15,174,115
SI6	SI6 Metals Limited	0.002	50%	1,349,401	$2,767,292
1AE	Auroraenergymetals	0.063	47%	4,760,804	$7,699,741
RHT	Resonance Health	0.054	42%	3,664,858	$17,465,413
DAF	Discovery Alaska Ltd	0.018	38%	228,566	$3,045,051
VKA	Viking Mines Ltd	0.015	36%	5,993,163	$11,688,509
AAU	Antilles Gold Ltd	0.004	33%	1,574,255	$5,567,228
MTL	Mantle Minerals Ltd	0.002	33%	30,400,492	$9,296,169
ENT	Enterprise Metals	0.005	25%	17,600	$4,713,269
VAR	Variscan Mines Ltd	0.010	25%	2,931,823	$5,906,671
RNT	Rent.Com.Au Limited	0.024	24%	1,522,737	$14,405,110
C29	C29Metalslimited	0.115	22%	2,827,014	$16,373,694
BB1	Blinklab Limited	0.315	21%	1,692,833	$14,842,395
FRB	Firebird Metals	0.110	21%	62,751	$12,954,887
TMB	Tambourahmetals	0.030	20%	10,000	$2,719,751
CDE	Codeifai Limited	0.003	20%	7,736,079	$6,603,237
RMX	Red Mount Min Ltd	0.012	20%	7,820,866	$3,873,578
CLG	Close Loop	0.245	20%	2,896,719	$109,029,223
SXG	Southern Cross Gold	2.970	19%	224,406	$496,116,510
NAG	Nagambie Resources	0.019	19%	972,041	$12,746,171
NC1	Nicoresourceslimited	0.130	18%	714,055	$12,039,563
ALY	Alchemy Resource Ltd	0.007	17%	142,163	$7,068,458
ATH	Alterity Therap Ltd	0.004	17%	700,000	$15,961,008
AZI	Altamin Limited	0.028	17%	60,051	$12,640,616

Petratherm (ASX:PTR) has announced promising results from its initial tests on heavy mineral samples from the Rosewood prospect in South Australia.

The samples, taken from historical drilling, showed high concentrations of valuable titanium minerals, with titanium dioxide (TiO2) content ranging from 63% to 65%. These minerals include rutile, which is a key component for various industries, including electric vehicles and wind technology. The company is expanding its drilling programme across a larger area, with additional test results expected in the coming weeks. The findings, according to Petratherm, suggest that the Rosewood has the potential to become a significant source of high-value titanium minerals, which could be a major boost for the company.

Aurora Energy Metals (ASX:1AE) has secured an option to acquire Metalbelt Holdings, which owns several uranium exploration projects in Western Australia. These projects are focused on areas with uranium anomalies, identified through airborne surveys, and located in potential palaeochannel settings, known for hosting significant uranium deposits.

Aurora plans to evaluate the projects over the coming months, starting with landholder engagement and surface inspections. While uranium mining is currently banned in Western Australia, Aurora sees this as a low-risk, low-cost opportunity to explore these prospective sites in the meantime.

Olympio Metals (ASX:OLY) has secured an option to acquire 80% of the Dufay copper-gold project in Quebec, Canada, located on the prolific Cadillac Break. The project covers 60km² and contains multiple high-grade copper showings, including rock samples with up to 7.7% copper.

It is situated near large mineral resources like the Kerr-Addison gold mine and the Rouyn-Noranda copper smelter. Despite limited drilling since the 1980s, the property has significant potential, with untested geophysical targets and promising copper-gold mineralisation. Olympio plans to begin drilling in January 2025, with approval processes already underway.

Resonance Health (ASX:RHT) has secured a $13.775 million contract with Sun Pharmaceutical to support a clinical drug trial in Australia over the next two years. The contract covers a range of services, including clinical research, trial site management, and imaging analysis.

Resonance will receive the first payment of $2.066 million within 30 days, with further payments subject to regulatory approvals. The company expects to begin recruiting patients for the trial in early 2025, with its recently acquired TrialsWest business playing a key role in the process. The company said the contract marks a significant win, as it continues to expand its presence in the global pharmaceutical and clinical trials sector.

NICO Resources (ASX:NC1) has been granted Major Project Status (MPS) by the Australian Government for its Wingellina nickel-cobalt project, recognising its national importance. This status gives Nico access to additional resources and support from the Major Projects Facilitation Agency, helping to streamline the development process.

The Wingellina project, located in Western Australia, is one of the largest undeveloped nickel-cobalt reserves in the world, and the company said it will play a key role in meeting the growing demand for critical minerals needed for global decarbonisation. Once developed, Nico believes it will provide a long-term, secure supply of nickel and cobalt for use in batteries and energy storage.

Blinklab (ASX:BB1) ‘s latest study confirms that its digital diagnostic platform, BlinkLab Dx 1, is highly accurate in detecting autism in children. The study, conducted on 441 children, showed that BlinkLab Dx 1 achieved a 91% sensitivity and 85% specificity, improving on previous results.

This smartphone-based test uses advanced machine learning and digital biomarkers to measure sensory responses, offering a faster, more accessible alternative to current autism diagnostic methods, which often involve long wait times and expensive assessments. The company said the results strengthen BlinkLab’s confidence in its upcoming FDA trial. Data shows the market for autism diagnosticsis expected to grow to $5.41 billion by 2036.

Red Mountain Mining (ASX:RMX) has reported strong results from its soil sampling program at the Flicka Lake project in Ontario, Canada. The company found exceptionally high gold values in soil samples, including up to 17.8g/t gold, suggesting the potential for significant gold mineralisation in the area.

Also, the soil samples revealed high copper levels, with some samples showing up to 2420ppm copper, indicating the possibility of a large base metal discovery. These results, combined with previous findings, suggest that Flicka Lake may host valuable gold and copper mineralisation, and the company plans to continue its exploration efforts in the area.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for November 19 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Code	Name	Price	% Change	Volume	Market Cap
SBW	Shekel Brainweigh	0.018	-57%	1,484,728	$9,578,572
TX3	Trinex Minerals Ltd	0.001	-50%	71	$3,657,305
IVX	Invion Ltd	0.002	-33%	4,980,513	$20,449,775
TKL	Traka Resources	0.001	-33%	3,725,000	$2,918,488
88E	88 Energy Ltd	0.002	-25%	3,652,772	$57,867,624
BYH	Bryah Resources Ltd	0.003	-25%	88,499	$2,013,147
EDE	Eden Inv Ltd	0.002	-25%	300,000	$8,216,419
RIE	Riedel Resources Ltd	0.002	-25%	544,482	$4,447,671
BNL	Blue Star Helium Ltd	0.004	-20%	505,641	$13,474,426
CDT	Castle Minerals	0.002	-20%	552,819	$4,182,035
NAE	New Age Exploration	0.004	-20%	333	$10,719,495
RB6	Rubixresources	0.088	-20%	639,684	$6,759,500
LMS	Litchfield Minerals	0.100	-17%	150,000	$3,307,500
ADD	Adavale Resource Ltd	0.003	-17%	104,075	$3,671,296
EXT	Excite Technology	0.010	-17%	940,679	$20,235,351
GGE	Grand Gulf Energy	0.003	-17%	778,947	$7,351,161
ID8	Identitii Limited	0.016	-16%	829,029	$12,361,543
SCN	Scorpion Minerals	0.011	-15%	839,806	$5,322,930
AON	Apollo Minerals Ltd	0.017	-15%	1,039,049	$13,926,858
1TT	Thrive Tribe Tech	0.003	-14%	48,804,582	$2,140,675
ADN	Andromeda Metals Ltd	0.006	-14%	514,464	$24,001,035
ASP	Aspermont Limited	0.006	-14%	2,000,000	$17,290,081
M4M	Macro Metals Limited	0.006	-14%	4,400,843	$25,361,748
RGL	Riversgold	0.003	-14%	10,500,745	$5,696,119

KMD Brands (ASX:KMD), which owns Rip Curl and Kathmandu, saw sales drop in the first quarter of the year, with Rip Curl sales slipping 6.7%, and Kathmandu and Oboz also seeing declines. The company is staying cautious on its outlook.
KMD shares were down over 2%.

IN CASE YOU MISSED IT

Bevis Yeo reported that:

Legacy Minerals (ASX:LGM) has started drilling at its Bauloora gold-silver epithermal project in NSW to test a combination of undrilled, interpreted outcropping low-sulphidation epithermal veins and high-tenor geochemical anomalies with coincident geophysical anomalies.

The company will drill up to four holes totalling ~1000m which are funded by partner Newmont under the Phase 1 earn-in of their joint venture. Viens occur within a ~29km2 epithermal vein field that includes zones of high-level chalcedonic veins, clay alteration, and local sinter-related formations.

“The targets include some of the largest and broadest outcropping epithermal veins across the Bauloora Project area with coincident geochemical and geophysical anomalies,” managing director Christopher Byrne said.

“This initial reconnaissance drilling at Bauloora has already yielded intercepts of gold, silver, and base metals in previously undrilled and unrecognized areas, creating opportunities for future follow-up work.”

Octava Minerals (ASX:OCT) has mobilised a drill rig to its Yallalong antimony project in WA with drilling expected to start this weekend.

The 3000m reverse circulation program targets further high-grade antimony at the Discovery prospect where historical drilling had returned hits of up to 7m at 3.27% antimony from 12m and 3m at 6.83% antimony from 21m over a strike of ~300m. Drilling will also be carried out at the undrilled Central antimony prospect about 2km north along strike.

A detailed geophysical survey over the antimony corridor at Yallalong is now complete, with the data being processed. This is expected to generate further targets within the antimony corridor.

Metallurgical testwork at Spartan Resources (ASX:SPR) Dalgaranga gold project has yielded an average gold recovery of 92.3% on fresh ore samples from Stages 1 to 4 of the Never Never deposit.

Fresh ore from Never Never is relatively competent and hard, typical of similar underground orebodies in WA and consistent with the deeper ore previously mined from the Gilbey’s Main Zone.

The work also found that a relatively strong relationship exists between grind size and recovery, with economics supporting a current P80 grind size target of 75µm, while reagent consumptions are consistent with previously processed Gilbey’s fresh ore. Testwork on ore from Never Never Stages 5 and 6 as well as Stage 1 of the Pepper deposit is also underway.

At Stockhead, we tell it like it is. While Legacy Minerals, Petratherm, Octava Minerals and Spartan Resources are Stockhead advertisers, they did not sponsor this article.

This article does not constitute financial product advice. You should really consider obtaining independent advice before making any financial decisions.