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Rise and Shine: Everything you need to know before the ASX opens
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Welp… that was a blink-and-you’ll-miss-it kinda weekend, and so here we are again on another Monday morning, waiting impatiently for the markets to open so we can get down to the cheerful business of buying and selling little pieces of things to each other.
What a time to be alive.
Naturally, there’s a knack to performing this seemingly simple task… and you’ll probably find that most folks who are good at it, are good at it because they know a lot of stuff about a lot of stuff.
It’s with that in mind that our fearless team of intrepid writers have been chained to their desks all weekend without a break, furiously researching the latest news they’ve been able to get their pale, withered hands on.
(Ed: Note to self – reminder to invoice journos for chains)
For starters, Christian wrote a thing, as Christian is wont to do – this time, it’s about Danish health tech Novo Nordisk, which has (apparently) found a new drug that will cause weight loss when it’s injected into a patient. It’s all very complicated, and 100% not the ‘weight loss’ drug your probably thinking of.
Nope… it’s not that one either.
Elsewhere, Nadine’s been busy figuring out what’s happening in the world of defence stocks, Em’s been digging into who’s locking in green tech patents and Eddy’s got a lesson for bosses who aren’t green enough.
Hint: It involves those pesky Gen Zs.
As always, there’s data and digits to digest as the day begins, so here’s that stuff as well. Enjoy!
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$1918.90 (-0.01%)
Silver: US$22.917 (-0.13%)
Nickel (3mth): US$20258/t (-0.56%)
Copper (3mth): US$8,223.75/t (-0.23%)
Oil (WTI): US$87.297 (+0.49%)
Oil (Brent): US$90.280 (+0.40%)
Iron 62pc Fe: US$117.50/t (-1.67%)
AUD/USD: 0.6379 (+-0.03%)
Bitcoin: US$25,817.50 (-0.31%)
WHAT GOT YOU TALKING
You guys really took a shine to our new Micros and Majors column – the one where we peel back the lid on the Small Caps that are in cahoots with the Big Kids on the ASX, to see who’s getting a leg-up around Australia this week.
Micros with Majors is Stockhead’s new column which profiles and looks at the stories behind #microcap #ASX companies in partnerships with some of Australia’s, and the world’s, leading organisations. https://t.co/BQQSwQiIWo
— Stockhead (@StockheadAU) September 7, 2023
FRIDAY’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 |
|---|---|---|---|---|---|
| TD1 | Tali Digital Limited | 0.002 | 100% | 24,000 | $3,295,156 |
| ZEU | Zeus Resources Ltd | 0.021 | 62% | 16,942,282 | $5,970,653 |
| EXT | Excite Technology | 0.0075 | 50% | 1,825,087 | $5,796,209 |
| ICN | Icon Energy Limited | 0.006 | 50% | 3,366,066 | $3,072,055 |
| MTH | Mithril Resources | 0.0015 | 50% | 40,000 | $3,368,804 |
| CRB | Carbine Resources | 0.01 | 43% | 465,103 | $3,862,164 |
| RMX | Red Mount Min Ltd | 0.005 | 43% | 1,044,809 | $8,835,229 |
| ODE | Odessa Minerals Ltd | 0.014 | 40% | 50,388,505 | $9,471,118 |
| MRI | Myrewardsinternation | 0.015 | 36% | 7,819,575 | $4,692,972 |
| OLI | Oliver'S Real Food | 0.023 | 35% | 487,781 | $7,492,443 |
| NAE | New Age Exploration | 0.008 | 33% | 61,925,815 | $8,615,393 |
| WCN | White Cliff Min Ltd | 0.009 | 29% | 5,554,096 | $8,799,130 |
| ASW | Advanced Share Ltd | 0.16 | 28% | 917,502 | $24,175,972 |
| ELS | Elsight Ltd | 0.485 | 28% | 938,526 | $57,121,441 |
| ECT | Env Clean Tech Ltd. | 0.0075 | 25% | 35,357,724 | $17,085,331 |
| ABE | Ausbondexchange | 0.125 | 25% | 91,496 | $3,875,310 |
| GTR | Gti Energy Ltd | 0.01 | 25% | 19,506,487 | $15,582,033 |
| LYN | Lycaonresources | 0.285 | 24% | 263,318 | $8,951,313 |
| SUH | Southern Hem Min | 0.026 | 24% | 2,577,802 | $11,063,933 |
| TZL | TZ Limited | 0.021 | 24% | 37,380 | $4,364,888 |
| LV1 | Live Verdure Ltd | 0.215 | 23% | 376,260 | $15,707,835 |
| AEV | Avenira Limited | 0.011 | 22% | 3,601,645 | $15,570,065 |
| BDG | Black Dragon Gold | 0.034 | 21% | 195,973 | $5,618,762 |
| MRR | Minrex Resources Ltd | 0.017 | 21% | 8,449,470 | $15,188,145 |
| R8R | Regener8Resourcesnl | 0.17 | 21% | 5,808 | $3,591,875 |
Friday’s Small Caps standouts were:
It wasn’t going to be long before we heard from Errawarra Resources (ASX:ERW) again.
The WA explorer (which has expanded its portfolio from nickel and lithium, to gold and graphite), is up once more, following the company’s impressive annual report, which dropped late Thursday.
The report provides a clear roadmap up front in executive chairman Thomas Reddicliffe’s letter to shareholders, which notes:
- The company’s main focus over the past year has been to secure the Andover West tenement in the Pilbara, where it is hunting “compelling nickel targets”…
- … as well as digging into some pretty compelling lithium nearology, too – what with the Azure Minerals (ASX:AZS) lithium success story being pretty much adjacent.
- Further exploration at the gold, nickel, graphite focused Errabiddy project is ongoing.
- Meanwhile, “the company has reviewed its commitment to its foundation projects at Binti Binti and Fraser Range, and is actively seeking to sell or Joint Venture these projects.”
The other day, ERW surged upwards after Errawarra closed a heavily-oversubscribed placement early, receiving commitments for $4.25 million from sophisticated investors to fund and accelerate its exploration.
Friday’s top gainers also included Advanced Share Registry (ASX:ASW) up 32% while Gregor (me) was watching, after revealing it entered a scheme of arrangement, which will see Automic Enterprise will buy 100% of the company, at $0.165 per share.
ASW closed at $0.125 yesterday, and is sitting right on top of Automic’s target price at lunchtime today. Automic Group, BTW, provide accounting services and finance functions to support compliance and ‘deliver efficiency to your business.’
Copper hunter Southern Hemisphere Mining (ASX:SUH) surged.
In relation to a shortfall from the company’s pro-rata non-renounceable entitlement offer in July this year, Southern Hemisphere Mining has received binding commitments for the shortfallen securities, raising additional funds of more than $1.27m.
In total, the company advises it’s now successfully raised the full amount of $2.36m offered under the entitlement offer. And this will help enable drilling at the Llahuin project, with the aim of substantially increase the existing resource towards a 25 year-mine life, and this is piquing the interest of copper-hungry majors.
Oliver’s Real Food (ASX:OLI), which wandered somewhat zombie-like to a 35.3% rise on zero news.
YESTERDAY’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 |
|---|---|---|---|---|---|
| AMA | AMA Group Limited | 0.0605 | -43% | 88,090,387 | $113,444,983 |
| AFA | ASF Group Limited | 0.051 | -37% | 2,621 | $64,184,200 |
| M3M | M3Mininglimited | 0.082 | -37% | 2,803,948 | $6,046,729 |
| MXC | Mgc Pharmaceuticals | 0.002 | -33% | 749,107 | $13,283,905 |
| AD1 | AD1 Holdings Limited | 0.006 | -25% | 501,226 | $6,580,551 |
| CCE | Carnegie Cln Energy | 0.0015 | -25% | 11,485,469 | $31,285,147 |
| EDE | Eden Inv Ltd | 0.003 | -25% | 63,917,834 | $11,987,881 |
| PVS | Pivotal Systems | 0.003 | -25% | 4,721,723 | $3,073,517 |
| XTC | Xantippe Res Ltd | 0.0015 | -25% | 5,888,733 | $35,056,011 |
| COY | Coppermoly Limited | 0.011 | -21% | 303,298 | $7,421,777 |
| 88E | 88 Energy Ltd | 0.0065 | -19% | 72,406,940 | $165,287,509 |
| SIX | Sprintex Ltd | 0.022 | -19% | 45,000 | $8,336,106 |
| BSE | Base Res Limited | 0.185 | -18% | 1,418,065 | $265,052,666 |
| SRR | Saramaresourcesltd | 0.029 | -17% | 391,381 | $1,968,862 |
| ASP | Aspermont Limited | 0.01 | -17% | 1,739,263 | $29,265,164 |
| LML | Lincoln Minerals | 0.005 | -17% | 405,272 | $8,524,271 |
| TKL | Traka Resources | 0.005 | -17% | 7,706,900 | $5,227,976 |
| ODA | Orcoda Limited | 0.26 | -15% | 283,068 | $51,592,906 |
| YRL | Yandal Resources | 0.047 | -15% | 55,443 | $8,679,169 |
| DOU | Douugh Limited | 0.006 | -14% | 20,244 | $7,398,827 |
| VN8 | Vonex Limited. | 0.019 | -14% | 624,794 | $7,960,230 |
| EMP | Emperor Energy Ltd | 0.013 | -13% | 145,842 | $4,032,937 |
| GHY | Gold Hydrogen | 0.24 | -13% | 331,697 | $15,653,831 |
| AUE | Aurumresources | 0.105 | -13% | 35,359 | $3,000,000 |
| MGA | Metalsgrovemining | 0.105 | -13% | 23,000 | $4,464,060 |
TRADING HALTS
Galilee Energy (ASX:GLL) – Pending an announcement regarding changes to management team.
Recce Pharmaceuticals (ASX:RCE) – Pending news of a proposed capital raising.
Siren Gold (ASX:SNG) – Pending news of a proposed capital raising.
Bastion Minerals (ASX:BMO) – Pending news of a proposed material capital raising.
