• ASX 200 up ~0.7%, nearing record high
  • Small Cap Winners: EUR, ATR
  • Small Cap Losers: BME, R3D


The ASX 200 Index was up Thursday, gaining 0.70% on classic pre-New Year’s ‘lower than normal’ volume.

We are close to an all-time record.

10 out of 11 sectors were higher, led by IT with a 1.03% gain.



These stocks entered trading halts Thursday and are expected out in the coming days:

Calima Energy (ASX:CE1) – sale of the Blackspur assets

CZR Resources (ASX:CZR) – corporate transaction in relation to the company’s Robe Mesa iron ore project



Winners 🚀

Champion Iron (ASX:CIA) +4%

Sandfire Resources (ASX:SFR) +2.5%

Auckland International Airport (ASX:AIA) +2.5%

Fortescue Metals (ASX:FMG) +2%


Losers 💩

Boss Energy (ASX:BOE) -3.5%

Tuas (ASX:TUA) -3%

De Grey Mining (ASX:DEG) -2.5%

Cettire (ASX:CTT) -2.5%



Today’s best performing ASX small cap stocks:

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After going back and forth with the all-powerful SEC for more than a year European Lithium (ASX:EUR) finally has permission to sell its Wolfsberg lithium project to a SPAC called Sizzle.

Also known as blank check companies, SPACs are formed with no assets for the purpose of acquiring or merging with an existing company.

The resultant NASDAQ listed co, Critical Metals Corp, will own the small but advanced 12.8Mt Wolfsberg project.

A DFS earlier this year projected an integrated Wolfsberg hydroxide operation would cost US$866m to build, and have breakeven operating costs of US$17,016/t.

Upon the closing of the transaction, EUR will be issued US$750 million worth of shares in Critical Metals, giving it majority ownership.

Mineral sands miner Astron (ASX:ATR) has inked a non-binding Memorandum of Understanding with the US’ largest uranium producer, Energy Fuels,  to jointly develop the 2.6 billion tonne Donald rare earths and mineral sands project in Victoria.

Donald could be a globally significant, long-life supplier of critical rare earth elements (REE), including neodymium, praseodymium, dysprosium, and terbium as well as zirconium and titanium minerals, ATR says.

Energy Fuels to invest A$180 million to earn 49% of the JV, plus issue ATR US$17.5m worth of shares.



Today’s worst performing ASX small cap stocks:

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~$5m capped oil and gas play Black Mountain Energy (ASX:BME) has lodged a formal request to be removed from the official list of the ASX because “the market has significantly undervalued [the company] and its assets.”

The company listed on the ASX in December 2021 after an $11m IPO.