Local stocks end up posting a solid session on Monday, following some steady gains on Wall Street on Friday night.

Things looked shaky early, but the ASX 200 steadied in afternoon trade to finish around 0.5% higher.

ASX 200 tech stocks rose by around 0.7% after the Nasdaq index outperformed to end the week.

Gold stocks came under pressure, while money moved back into consumer stocks (grocery chains and retailers) as investors assess the domestic economy’s capacity to withstand Omicron.

On the IPO front, fintech debutante Beforepay (ASX:B4P) attracted most of the headlines — probably for the wrong reasons.

After raising $35m from investors at $3.41, B4P shares slumped more than 40% to close on day below $2.

The company counts former Westpac CEO Brian Hartzer as its chairman, and is offering investors access to a business model that provides customers a ‘pay-on-demand’ service which gives them instant access to their pay in exchange for a fixed 5% fee.


(Stocks highlighted in yellow rose after making announcements during the trading day).

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Code Company Price % Volume
ADV Ardiden Ltd 0.0165 37.5% 126,331,804
LM8 Lunnon Metals 0.715 33.6% 4,460,973
ARR American Rare Earths 0.255 30.8% 10,352,047
COB Cobalt Blue Ltd 0.645 27.7% 3,956,289
LSR Lodestar Minerals 0.012 26.3% 91,313,642
GTG Genetic Technologies 0.005 25.0% 18,347,495
RNU Renascor Res Ltd 0.29 23.4% 37,906,750
CHR Charger Metals 0.715 23.3% 3,340,427
GRE Greentechmetals 0.4 23.1% 1,595,560
SI6 SI6 Metals Limited 0.011 22.2% 15,724,745
ESS Essential Metals Ltd 0.56 21.7% 18,244,978
QGL Quantum Graphite 0.235 20.5% 1,237,006
BEM Blackearth Minerals 0.18 20.0% 4,874,272
RMX Red Mount Min Ltd 0.012 20.0% 14,868,952
GT1 Greentechnology 1.085 19.9% 6,646,128
HNR Hannans Ltd 0.056 19.1% 28,050,588
CAE Cannindah Resources 0.25 19.0% 1,128,276
ALM Alma Metals Ltd 0.032 18.5% 1,008,388
TNR Torian Resources Ltd 0.032 18.5% 24,137,886
AZL Arizona Lithium Ltd 0.13 18.2% 58,135,005
ITM Itech Minerals Ltd 0.305 17.3% 2,018,839
JTL Jayex Technology Ltd 0.021 16.7% 1,124,183
AOA Ausmon Resorces 0.007 16.7% 8,648,865
WCN White Cliff Min Ltd 0.028 16.7% 19,572,655
GTN GTN Limited 0.675 16.4% 83,127
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Among a spate of resources winners to start the week, Ardiden (ASX:ADV) closed highest, courtesy of good news from its joint venture lithium project with Green Technology Metals (ASX:GT1) in Ontario, Canada.

Drilling at the project — in which GT1 holds a 51% stake — returned a thick 40m intersection at 1.54% lithium, which gives it plenty of upside, the two companies said, with a further 10 holes yet to be drilled in a 3,500m drilling program.

Also posting strong gains on Monday was Lunnon Metals (ASX:LM8) after flagging strong drilling results including “7m @ 9.22% nickel only 120m below surface” at its Baker Shoot prospect, an emerging discovery within the Kambalda nickel project.

More broadly, the Monday winner’s list had a noticeable lean towards battery metals stocks, as investors continue to move towards structural supply gaps as part of the global EV thematic.


(Stocks highlighted in yellow fell after making announcements during the trading day).

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Code Company Price % Volume
B4P Beforepay Group 1.92 -43.7% 1,374,543
PBL Parabellumresources 0.2 -20.0% 78,830
JAV Javelin Minerals Ltd 0.002 -20.0% 971,689
MLS Metals Australia 0.002 -20.0% 25,366,641
YPB YPB Group Ltd 0.002 -20.0% 3,456,182
CPV Clearvue Technologie 0.4 -16.7% 3,609,113
VPR Volt Power Group 0.0025 -16.7% 1,066,335
NAE New Age Exploration 0.0165 -13.2% 61,596,434
RR1 Reach Resources Ltd 0.007 -12.5% 5,418,131
XST Xstate Resources 0.0035 -12.5% 19,928,720
FFT Future First Tech 0.035 -12.5% 89,182
MCM Mc Mining Ltd 0.08 -12.1% 4,538
TI1 Tombador Iron 0.046 -11.5% 2,325,736
FNT Frontier Resources 0.024 -11.1% 9,456,434
CDX Cardiex Limited 0.056 -11.1% 4,181,202
AO1 Assetowl Limited 0.004 -11.1% 645,333
AXP AXP Energy Ltd 0.008 -11.1% 609,133
EVE EVE Health Group Ltd 0.004 -11.1% 6,409,991
PNN PepinNini Minerals 0.51 -10.5% 2,056,589
NET Netlinkz Limited 0.017 -10.5% 3,494,491
MI6 Minerals260Limited 0.63 -10.0% 1,329,660
VTX Vertexmin 0.18 -10.0% 2,704,172
TMK Tamaska Oil Gas Ltd 0.009 -10.0% 2,204,600
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Described by its founder Tarek Ayoub as the next generation of buy now, pay later (BNPL), Beforepay joined the boards this morning following a major negative re-rate for the listed BNPL sector.

Sector leader (and soon-to-be Block Inc subsidiary) Afterpay is down more than 60% from its all-time highs, with falls of around 80% for other companies in the space.

Beforepay provides a similar service, except instead of paying merchants up front in return for a fee, it provides customers the option to access their employee pay earlier, with variable repayment terms between 7-14 days.

B4P raised a healthy $35m at its IPO but the market was unconvinced on day one, and tech investors will be watching its near-term fortunes in a post-COVID environment where higher interest rates have been flagged and a number of high-growth tech stocks have come under pressure.


Shares in 140-year-old masonry maker Adbri (ASX:ABC) have jumped 7.5% to $3 after Morgan Stanley upgraded the stock to overweight and a major supply contract was extended.

Adbri subsidiary Cockburn Cement secured an extension of its quicklime supply contract with US industrials giant Alcoa.

The extension adds an extra year of supply with the end of the existing arrangement moved from January 31, 2022 to 31 January 2023.

Teleco Reverse Corp (ASX:REF) has announced it is being removed from the ASX in accordance with listing rule 3.4

If you’re wondering what is rule 3.4 it relates to disclosure around a takeover bid. Niche telco service provider Reverse Bid operates in the reverse charge calling market.

The brief announcement said the board would “continue to seek any viable opportunities for the company” and should an opportunity arise “will notify the shareholders accordingly”.

INOVIQ (ASX:IIQ), formerly known as BARD1 Life Sciences, has announced another patent to its growing list. Titled Kits for detecting breast or ovarian cancer in body fluid sample and use thereof the patent was issued by the United States Patent and Trademark Office.

The patent provides protection for INOVIQ’s BARD1 autoantibody tests for detection of breast or ovarian cancer in the USA. The company now has three granted patents enforcing protection in the key US and European markets for its BARD1, with the latest expiring in 2032.


Astro Resources (ASX:ARO) — capital raising
Southern Hemisphere Mining (ASX:SUH) — exploration results and capital raising
DXN Ltd (ASX:DXN) — management changes