On Stockhead today, is it time to love these sold-off iron ore stocks again, is Magellan doomed to life all at sea, and are you wearing appropriate bathing attire?

But first, the day ahead.



The following companies went into trading halts yesterday and are expected out in the next few days:

Classic Minerals (ASX:CLZ) – Government approval for the Kat Gap processing plant

Globe Metals & Mining (ASX:GBE) – Capital raise

Orbital Corporation (ASX:OEC) – Capital raise

South Harz Potash (ASX:SHP) – Capital raise

WA1 Resources (ASX:WA1) – More results on the way

Magmatic Resources (ASX:MAG) – Capital raise

Southern Gold (ASX:SAU) – Capital raise

The GO2 People (ASX:GO2) – Capital raise

Zenith Minerals (ASX:ZNC) – “Significant lithium drill results” on the way from its Split Rocks project

Burley Minerals (ASX:BUR) – Acquisition



Gold: $US1,757.89 (-0.74%)

Silver: $US21.45 (-1.02%)

Nickel (3mth): $US25,949/t (+5.11%)

Copper (3mth): $US8,492.5/t (+2.67%)

Lithium Carbonate, China (Benchmark Minerals Intelligence, NOV 9): $US76,025/t (+1.7% weekly, +125.8% year-to-date)

Lithium Hydroxide, China (Benchmark Minerals Intelligence, NOV 9): $US75,275/t (+1.9% weekly, +169.2% year-to-date)

Oil (WTI): $US87.77 (-1.33%)

Oil (Brent): $US95.16 (-0.89%)

Iron 62pc Fe: $US93.50 (+4.47%)

AUD/USD: 0.6676 (-0.46%)

Bitcoin: $US16,738.00 (+2.22%)



Iron ore prices have surged on the back of some early signs that China will wind back its regressive Covid containment policies, which have cruelled demand for metals in 2022.

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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.



Here are the best performing ASX small cap stocks:

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The chances of a major discovery are increasing after Invictus Energy (ASX:IVZ) hit elevated gas shows and fluorescence in its Upper Angwa primary target.

Rock chip sampling has uncovered lithium-prospective pegmatites over 8m high and 500m long at Tambourah Metals’ (ASX:TMB) RJ 101 project.

Green tech stock Tymlez (ASX: TYM) is raising $2m at an 11% premium “to pursue revenue-generating client contracts and continue the development of the company’s technology”.

Gold 50 (ASX:G50) is now drilling the “largely untested” Golconda project in Arizona.

Brazilian gold play BBX (ASX:BBX) has struggled with “complex” mineralisation at its Tres Estados and Ema precious metals projects for years.

The gold + PGEs mineralisation is weird, confusing and hard to assay and extract, leading to some tussles with the ASX.

But some initial bioleaching test results announced yesterday were a success, showing a significant increase in gold, platinum, palladium, iridium, and rhodium.



Here are the least performing ASX small cap stocks:

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