Rise and Shine: Everything you need to know before the ASX opens

After a lovely date the night before, Brian was horrified to learn during breakfast that Sarah had given him crabs. Pic via Getty Images.

Good morning everyone, and welcome to Monday 16 October – an important day indeed, as it marks the 100th anniversary of Walt and Roy Disney teaming up to bring animation to the masses.

Arguably most famous for animating an enormous anthropomorphic mouse, the company has put in 100 years worth of very hard work to fill children and adults alike’s hearts with magic and joy.

Disney also made Frozen.

It’s an effective demonstration that even those of us with the best of intentions can make a wrong move from time to time, and I’m sure I’m not alone in the belief that if Disney Corp had known what a wretched piece of “entertainment” Frozen would turn out to be, they would probably have burnt the entire business to the ground.

The good news is we’re here to help you avoid having a Frozen moment in your life, by bringing you more top-shelf market journalism.

For anyone looking for a fresh approach to trading, Eddy Sunarto’s got all the goss on momentum trading in Hot Money Monday, and Jess Cummins has done the near-impossible by providing a clear and concise explanation of the emerging world of Direct Lithium Extraction.

And don’t miss Josh Chiat’s goss on who’s been spying on their pegging neighbour. No, really.

First though, here’s all the fiddly data and digits to get you up to speed this morning as well.

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$1,932.97 (+3.29%)

Silver: US$22.71 (+3.95%)

Nickel (3mth): US$18,331/t (-0.56%)

Copper (3mth): US$7,876/t (-1.49%)

Oil (WTI): US$87.75 (+5.09%)

Oil (Brent): US$90.80 (+5.26%)

Iron 62pc Fe: US$118.57/t (+0.97%)

AUD/USD: 0.63 (-1.86%)

Bitcoin: US$26,874.60 (+0.09%)

WHAT GOT YOU TALKING

Fresh news that Gina Rinehart’s stake in Liontown Resources (ASX:LTR) has hit 19.9% (after spending a wince-inducing $1.3 billion) grabbed the lion’s share of your attention on Friday… and in case you missed it, here’s a link:

Gina Rinehart’s successful pick up of $1.3 billion, 19.9% stake in Liontown Resources ($LTR) complicates Albemarle’s planned $6.6b takeover. | #ASX #mining #stocks https://t.co/grvSFSHttR

— Stockhead (@StockheadAU) October 13, 2023

MONDAY’S ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks:

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

Code	Company	Price	%	Volume	Market Cap
MXC	Mgc Pharmaceuticals	0.002	100%	3,850,473	$4,427,968
HOR	Horseshoe Metals Ltd	0.012	50%	1,265,869	$5,147,829
FIN	FIN Resources Ltd	0.024	26%	23,942,171	$11,799,672
DDT	DataDot Technology	0.005	25%	8,057,736	$4,843,811
IPB	IPB Petroleum Ltd	0.016	23%	5,945,142	$7,346,592
FTZ	Fertoz Ltd	0.082	22%	1,036,814	$17,274,933
MEL	Metgasco Ltd	0.011	22%	387,397	$9,574,981
NAG	Nagambie Resources	0.022	22%	592,490	$10,471,074
MGT	Magnetite Mines	0.395	22%	79,668	$24,948,641
SWF	Selfwealth	0.17	21%	990,711	$32,971,340
GBZ	GBM Rsources Ltd	0.018	20%	944,897	$9,304,827
PKD	Parkd Ltd	0.03	20%	28,014	$2,545,458
TG1	Techgen Metals Ltd	0.03	20%	46,666	$1,929,207
RIM	Rimfire Pacific	0.006	20%	2,000,000	$10,526,224
1AI	Algorae Pharma	0.014	17%	220,186	$19,628,882
CZN	Corazon Ltd	0.014	17%	503,473	$7,387,175
LRL	Labyrinth Resources	0.007	17%	333,566	$7,125,262
TGH	Terragen	0.029	16%	94,208	$9,227,028
MEG	Megado Minerals Ltd	0.037	16%	105,124	$8,142,578
EVR	Ev Resources Ltd	0.015	15%	1,314,648	$12,167,793
GIB	Gibb River Diamonds	0.03	15%	433,906	$5,499,246
ICR	Intelicare Holdings	0.015	15%	110,373	$2,715,900
TOY	Toys R Us	0.015	15%	1,108,075	$11,997,935
VTM	Victory Metals Ltd	0.23	15%	870,292	$16,179,931
AYA	Artryalimited	0.235	15%	260,053	$12,922,897

Monday’s Small Caps highlights were:

Horseshoe Metals (ASX:HOR) staged a late surge to take top spot for Small Caps on Friday, jumping a very handy 50% in short order off the back of a happy and well-received half-year report.

There’s a bit to digest in there, but the nuts and bolts of it are a sizeable reduction in losses compared to the same period last year, down to $646,912 against 2022’s $1,596,059 drop, which corresponds to a diluted loss per share of $0.106 versus the $0.304 loss last year.

Fertoz (ASX:FTZ) climbed 40.3% early on Thursday’s news that its Fertify NPKS plant in Montana, USA has achieved nameplate capacity of 40,000 tons per annum after two months of operation, but eased to around +25% by close of play.

Fertoz has reached the milestone with the facility working at double-shift capacity, but says that 50,000 tons per year is “achievable with triple shift operation”, as it ramps up production of its regenerative and organic all-in-one NPKS pellets to farmers in time for Spring in the US.

Meanwhile, peer-to-peer investing solution provider SelfWealth (ASX:SWF) was up 22% after acknowledging there’s some truth behind recent media speculation of a potential transaction with Stakeshop.

However, that offer was knocked back in short order by Selfwealth as it “did not offer appropriate value to Selfwealth shareholders”, and as such there’s been very little in the way of negotiation on the topic thus far.

Fin Resources (ASX:FIN) resumed its recent climb, up 21% (+110% for the week) on Monday’s news about abundant spodumene crystals within a broad pegmatite outcrop at Cancet West, 45km west of Winsome Resources’ (ASX:WR1) Cancet lithium deposit and 100km west of Patriot Battery Metals’ (ASX:PMT) Corvette Lithium Deposit.

MONDAY’S ASX SMALL CAP LAGGARDS

Here are the worst performing ASX small cap stocks:

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

Code	Company	Price	%	Volume	Market Cap
KNM	Kneomedia Limited	0.002	-33%	37,996	$4,514,356
CCE	Carnegie Cln Energy	0.0015	-25%	12,967,586	$31,285,147
MRD	Mount Ridley Mines	0.0015	-25%	8,560,901	$15,569,766
IBX	Imagion Biosys Ltd	0.0125	-22%	14,644,661	$20,892,265
88E	88 Energy Ltd	0.0055	-21%	144,541,571	$154,830,585
AVJ	AVJennings Limited	0.275	-20%	3,457,753	$140,334,142
HFY	Hubify Ltd	0.016	-20%	94,113	$9,922,726
M4M	Macro Metals Limited	0.004	-20%	600,000	$9,935,389
MRQ	Mrg Metals Limited	0.002	-20%	219,360	$5,514,797
LBT	LBT Innovations	0.009	-18%	3,265,233	$3,914,904
BGE	Bridgesaaslimited	0.032	-18%	66,460	$1,538,004
SRI	Sipa Resources Ltd	0.019	-17%	12,396	$5,247,637
AHN	Athena Resources	0.005	-17%	3,412,881	$6,422,805
EDE	Eden Inv Ltd	0.0025	-17%	50,056	$10,090,911
FAU	First Au Ltd	0.0025	-17%	316,667	$4,355,980
ME1	Melodiol Glb Health	0.005	-17%	4,113,931	$17,683,922
SAN	Sagalio Energy Ltd	0.01	-17%	17,634	$2,455,922
SHO	Sportshero Ltd	0.02	-17%	324,478	$13,800,026
SUV	Suvo Strategic	0.027	-16%	113,953	$25,936,419
NWM	Norwest Minerals	0.028	-15%	125,330	$9,489,794
RNO	Rhinomed Ltd	0.035	-15%	153,059	$11,714,507
ESK	Etherstack PLC	0.24	-14%	14,949	$36,905,961
HCD	Hydrocarbon Dynamic	0.006	-14%	1,343,849	$4,547,661
PKO	Peako Limited	0.006	-14%	970,018	$3,689,593
PUA	Peak Minerals Ltd	0.003	-14%	1,000	$3,644,818