Good morning everyone. On Stockhead today, We’re back in Canada’s James Bay where Patriot Battery Metals’ (ASX:PMT) Corvette project that put James Bay on the map as Canada’s (and the world’s) next lithium hotspot.
Numerous hits, including a highlight 83.7m at 3.13%, have culminated in a 109.2Mt at 1.42% Li2O maiden resource at the CV5 Pegmatite.
But Reuben reports, its popularity means James is now packed tight with TSXV and ASX hopefuls hoping to replicate PMT’s success.
Elsewhere, RareX has agreed to sell its 35% asset level interests in the Trundle, Fairholme, Jemalong, Cundumbul and Condobolin exploration licences in NSW to its Joint Venture partner, Kincora Copper (ASX:KCC).
With all permits secured IperionX (ASX:IPX) hopes to scale its planned Titanium Demonstration Facility (TCF-1) capacity to 1,125tpa of titanium metal within the existing 50,000 square foot shell building in Halifax County, Virginia, with first titanium production targeted for Q1, 2024.
But first, the day ahead…
TRADING HALTS
These stocks went into trading halts on Monday and should be out in the coming days.
Linius Technologies (ASX:LNU) – Capital raising.
South Harz Potash (ASX:SHP) – Capital raising.
Rimfire Pacific Mining (ASX:RIM) – Capital raising.
American West Metals (ASX:AW1) – Pending the release of exploration results at the mining company’s Storm project.
Meanwhile…
Talon Energy (ASX:TPD) – The oil trading and gas exploration company’s shares are suspended pending an update on a “proposed material transaction”. Per The Australian: it comes after Strike Energy, Talon’s 55 per cent partner in the Walyering gas fields in the Perth Basin, withdrew a $125m takeover offer before it could be rejected.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1965.34 (+0.31%)
Silver: $US24.74 (+1.69%)
Nickel (3mth): $US22,305/t (-0.01%)
Copper (3mth): $US8,836/t (+2%)
Oil (WTI): $US81.73 (+1.43%)
Oil (Brent): $US85.27 (+1.02%)
Iron 62pc Fe: $US112.46/t (+0.20%)
AUD/USD: 0.6714 (-0.4%)
Bitcoin: $US29,227 (+0.12%)
WHAT GOT YOU TALKING
Titanium.
For all you crypto lovers Stockhead’s Coinhead Twitter is the place to share your views, insights, tips and ideas.
Also, be sure to check in preopen each day for ‘Market highlights and 5 ASX small caps to watch’, and 10.30am for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.
MONDAY’S ASX SMALL CAP LEADERS
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 |
|---|---|---|---|---|---|
| TD1 | Tali Digital Limited | 0.0015 | 50% | 133,152 | $3,295,156 |
| XTC | Xantippe Res Ltd | 0.0015 | 50% | 2,894,690 | $11,480,100 |
| ERG | Eneco Refresh Ltd | 0.019 | 46% | 167,103 | $3,540,659 |
| MTH | Mithril Resources | 0.002 | 33% | 1,760,790 | $5,053,207 |
| AYT | Austin Metals Ltd | 0.009 | 29% | 6,500 | $7,111,123 |
| PPG | Pro-Pac Packaging | 0.27 | 29% | 31,565 | $38,154,419 |
| ECG | Ecargo Hldg | 0.0175 | 25% | 214,463 | $8,613,500 |
| LSR | Lodestar Minerals | 0.01 | 25% | 22,860,464 | $14,747,179 |
| EOF | Ecofibre Limited | 0.21 | 24% | 3,367,691 | $59,366,474 |
| BEX | Bikeexchange Ltd | 0.006 | 20% | 2,500,004 | $5,945,751 |
| KAI | Kairos Minerals Ltd | 0.024 | 20% | 33,183,828 | $52,418,244 |
| SFG | Seafarms Group Ltd | 0.006 | 20% | 188,306 | $24,182,996 |
| AMA | AMA Group Limited | 0.1425 | 19% | 5,148,050 | $128,768,426 |
| AJX | Alexium Int Group | 0.019 | 19% | 607,121 | $10,422,236 |
| HXL | Hexima | 0.021 | 17% | 29,931 | $3,006,713 |
| EDE | Eden Inv Ltd | 0.0035 | 17% | 5,399,929 | $8,990,833 |
| MOB | Mobilicom Ltd | 0.014 | 17% | 6,101,337 | $15,920,120 |
| OPN | Oppenneg | 0.007 | 17% | 83,002 | $6,700,078 |
| EMC | Everest Metals Corp | 0.19 | 15% | 264,924 | $21,356,463 |
| CDR | Codrus Minerals Ltd | 0.094 | 15% | 223,697 | $6,185,260 |
| AD1 | AD1 Holdings Limited | 0.008 | 14% | 866,052 | $5,757,983 |
| ADS | Adslot Ltd. | 0.004 | 14% | 5,198,763 | $11,433,159 |
| GLA | Gladiator Resources | 0.016 | 14% | 1,398,462 | $7,646,379 |
| PIL | Peppermint Inv Ltd | 0.008 | 14% | 118,717 | $14,264,998 |
| RLG | Roolife Group Ltd | 0.008 | 14% | 85,000 | $5,036,907 |
TALi Digital (ASX:TD1) finished to the tune of +50%. The medical device and digital therapeutic tech company, which is focused on cognitive training for 3-10 year-olds, posted a strong Q4-FY23 activities report with annualised costs reduced by $1.7 million.
Industrial hemp company Ecofibre (ASX:EOF), which lit up the ASX small caps this morning, quickly getting high and finishing on cloud 9 but probably hungry for more by the end of the arvo sesh (+24% at close).
Read Gregor’s Lunch Wrap for the detail and derogatory humour:
“The company’s specialty manufacturing division, Hemp Black, has signed a Memorandum of Understanding (MOU) with Under Armour.
“The three-year deal is expected to bring in $9 million per annum, per machine, with a second machine on order to meet demand, financed by Under Armour for $4.5 million. Commissioning of the machinery is expected to take place by Q1 2024.
“Additionally, Hemp Black has also announced an agreement with Cruz Foam to manufacture a sustainable, biodegradable packaging material for its customers, expected to provide $3 million in annual revenue.”
Mithril Resources (ASX:MTH): +33% > The precious metals exploration company is another one boasting a good quarterly report, in which it highlighted, among other things, its Scheme Implementation Deed (SID) with Newrange Gold Corp.
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 |
|---|---|---|---|---|---|
| DXN | DXN Limited | 0.001 | -50% | 450,384 | $3,442,630 |
| MEB | Medibio Limited | 0.001 | -33% | 4,500,000 | $7,725,891 |
| SPL | Starpharma Holdings | 0.225 | -31% | 4,496,917 | $133,410,250 |
| SCT | Scout Security Ltd | 0.017 | -26% | 204,944 | $5,305,364 |
| EEL | Enrg Elements Ltd | 0.006 | -25% | 21,591,912 | $8,073,874 |
| FGL | Frugl Group Limited | 0.011 | -21% | 104,394 | $13,384,868 |
| SLR | Silver Lake Resource | 0.89 | -20% | 66,613,507 | $1,036,664,931 |
| T92 | Terrauraniumlimited | 0.12 | -20% | 265,982 | $7,740,774 |
| AUK | Aumake Limited | 0.004 | -20% | 1,729,568 | $7,436,297 |
| RMX | Red Mount Min Ltd | 0.004 | -20% | 2,247,675 | $11,559,255 |
| GRE | Greentechmetals | 0.295 | -19% | 808,712 | $20,657,378 |
| CBR | Carbon Revolution | 0.19 | -19% | 1,759,803 | $49,855,839 |
| NAG | Nagambie Resources | 0.033 | -18% | 545,214 | $23,269,053 |
| FFF | Forbidden Foods | 0.019 | -17% | 505,707 | $3,374,803 |
| FRX | Flexiroam Limited | 0.029 | -17% | 5,259,948 | $23,225,710 |
| 3DP | Pointerra Limited | 0.17 | -17% | 20,076,455 | $138,950,272 |
| CMO | Cosmometalslimited | 0.083 | -17% | 29,971 | $3,308,650 |
| CVV | Caravel Minerals Ltd | 0.22 | -17% | 2,230,103 | $126,983,859 |
| AQD | Ausquest Limited | 0.015 | -17% | 105,560 | $14,852,686 |
| MXC | Mgc Pharmaceuticals | 0.0025 | -17% | 4,378,508 | $11,677,079 |
| PUA | Peak Minerals Ltd | 0.0025 | -17% | 2,918,927 | $3,124,130 |
| TIG | Tigers Realm Coal | 0.005 | -17% | 500 | $78,400,214 |
| TSL | Titanium Sands Ltd | 0.005 | -17% | 1,325,505 | $9,704,145 |
| C29 | C29Metalslimited | 0.07 | -16% | 130,771 | $3,433,453 |
| BNO | Bionomics Limited | 0.011 | -15% | 5,126,311 | $19,093,561 |