• Benchmark ASX 200 index was down 0.44% at lunchtime
  • Uranium price hit another record high above US$90/lb
  • Gina backed Brazilian Rare Earths (ASX:BRE)  gains +14% on debut

A fall on Wall Street overnight bled though to the local bourse, with the ASX yo-yoing between losses and parity for much of the morning.

The benchmark ASX 200 index was down 0.44% at lunchtime, with nine sectors down and just two up.

Capital’s senior financial market analyst Kyle Rodda says Wall Street finally hit an “air pocket” as investors finally took a breath, taking profits after the post-Fed Powell-pivot party.

“Markets were becoming overbought, and a pullback like this is natural given those conditions,” Keith Buchanan, senior portfolio manager at Globalt Investments told Morningstar.

“So, it was more technical than fundamental.”

Crude prices pulled back overnight, while gold is steady at near record high of ~US$2035/oz.

Meanwhile, spot yellowcake prices hit another record high:

And are now excruciatingly close to hitting triple digits. When will stocks respond?

 

How is today’s big rare earths IPO travelling?

Today’s biggest news is the debut of large but tightly held Brazilian Rare Earths (ASX:BRE), which raised $50m in an IPO at $1.47/sh.

It is up +13% in early trade, which you can read more about here.

The register is jam packed with industry celebs and high net worths, counting Gina Rinehart and Whitehaven Coal as shareholders, alongside wealthy coal industry veterans Mark Lochtenberg and Brian Flannery.

Also holding a big chunk of stock are IperionX (ASX:IPX) board members and advisors Todd Hannigan, Taso Arima, Ray Nimrod and Dominic Allen.

 

HOW ARE THE BIG STOCKS FARING TODAY?

Winners 🚀

Meridian Energy (ASX:MEZ) +5%

AGL Energy (ASX:AGL) +2%

Whitehaven Coal (ASX:WHC) +1.5%

 

Losers 👎

GQG Partners (ASX:GQG) -5%

Allkem (ASX:AKE) -5%

Lynas Rare Earths (ASX:LYC) -2.5%

Pilbara Minerals (ASX:PLS) -2.5%

 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for 21 December [intraday]:

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

CODE COMPANY PRICE % VOLUME MARKET CAP
CGO CPT Global Limited 0.2 70% 448,864 $4,922,940
MTB Mount Burgess Mining 0.004 60% 328,621 $2,612,034
NYM Narryermetalslimited 0.095 53% 67,951 $2,975,602
TKL Traka Resources 0.003 50% 517,333 $1,750,659
VPR Volt Power Group 0.0015 50% 100,000 $10,716,208
FAU First Au Ltd 0.004 33% 5,025,035 $4,985,980
KP2 Kore Potash PLC 0.016 33% 685,541 $8,040,073
MCT Metalicity Limited 0.002 33% 14,904,784 $6,727,581
FCT Firstwave Cloud Tech 0.04 33% 466,874 $51,287,419
T3D 333D Limited 0.014 27% 35,161 $1,313,894
ERL Empire Resources 0.005 25% 1,000,000 $4,451,740
FHS Freehill Mining Ltd. 0.005 25% 8,867,680 $11,399,338
TMX Terrain Minerals 0.005 25% 400,428 $5,413,711
ADR Adherium Ltd 0.056 24% 104,908 $15,004,799
CNJ Conico Ltd 0.0055 22% 813,974 $7,065,427
GBZ GBM Rsources Ltd 0.011 22% 1,203,000 $5,582,896
WA1 Wa1Resourcesltd 11.85 22% 806,240 $413,340,084
AJL AJ Lucas Group 0.012 20% 1,092,893 $13,757,296
SFG Seafarms Group Ltd 0.006 20% 16,153 $24,182,996
PVT Pivotal Metals Ltd 0.026 18% 2,846,101 $14,961,227
VNL Vinyl Group Ltd 0.053 18% 2,028,061 $23,153,156
BMM Balkanminingandmin 0.135 17% 40,472 $8,169,659
LYN Lycaonresources 0.17 17% 533 $6,388,156
CAI Calidus Resources 0.21 17% 3,331,132 $109,842,661
EMP Emperor Energy Ltd 0.0105 17% 9,368,700 $3,010,387
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Billionaire WiseTech founder — and former roadie to AC/DC — Richard White is investing $11 million in Vinyl Group (ASX:VNL) so it can buy The Brag Media, publisher of Rolling Stone in Australia and New Zealand.

Metalicity (ASX:MCT) has executed formal agreements and settled all disputes with Nex Metals regarding the Kookynie and Yundamindra gold joint venture.

MCT will now hold 80% of the JV, up from 51%.

And miner Calidus (ASX:CAI) is buying Novo’s troubled Nullagine gold project for just $250k in shares and $5m in deferred payments.

It looks like CAI will actually make money on the deal from the outset, as it plans to rent out the camp infrastructure to Atlas Iron for an upfront cost of $14m, while retaining the right to use 50% of the camp.

 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for 21 December [intraday]:

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

CODE COMPANY PRICE % VOLUME MARKET CAP
NGY Nuenergy Gas Ltd 0.022 -29% 165,077 $45,909,620
MTO Motorcycle Hldg 1.85 -26% 1,116,663 $185,254,174
NFL Norfolkmetalslimited 0.17 -26% 1,772,475 $8,124,749
LSR Lodestar Minerals 0.003 -25% 200,230 $8,093,589
MHC Manhattan Corp Ltd 0.003 -25% 1,000,000 $11,747,919
PHL Propell Holdings Ltd 0.012 -20% 174,233 $1,805,333
ASP Aspermont Limited 0.008 -20% 1,666,500 $24,387,637
JAY Jayride Group 0.032 -20% 87,025 $9,376,365
ASR Asra Minerals Ltd 0.0075 -17% 3,277,625 $14,660,962
IPB IPB Petroleum Ltd 0.01 -17% 6,176,133 $6,781,469
COY Coppermoly Limited 0.011 -15% 100,000 $9,049,761
AZL Arizona Lithium Ltd 0.034 -15% 397,887,254 $133,780,576
TSO Tesoro Gold Ltd 0.023 -15% 73,204 $31,076,739
OEC Orbital Corp Limited 0.098 -15% 222,986 $16,767,774
1TT Thrive Tribe Tech 0.018 -14% 161,177 $6,229,052
AVE Avecho Biotech Ltd 0.003 -14% 398,692 $11,092,540
CCO The Calmer Co Int 0.006 -14% 922,833 $5,996,633
OAR OAR Resources Ltd 0.003 -14% 10,943,525 $9,243,713
WZR Wisr Ltd 0.03 -14% 3,853,778 $47,761,510
JNO Juno 0.1 -13% 4,900 $20,923,705
AD1 AD1 Holdings Limited 0.007 -13% 11,940 $6,871,400
VMS Venture Minerals 0.007 -13% 12,947,149 $15,600,104
EOF Ecofibre Limited 0.105 -13% 33,697 $45,384,868
SZL Sezzle Inc. 21.98 -12% 17,609 $52,575,396
SPQ Superior Resources 0.0115 -12% 14,470,556 $23,849,199
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