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.
TRADING HALTS
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
COMMODITY/FOREX/CRYPTO MARKET PRICES
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%)
WHAT GOT YOU TALKING YESTERDAY?
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.
YESTERDAY’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 |
|---|---|---|---|---|---|
| ICN | Icon Energy Limited | 0.012 | 71% | 2,825,873 | $5,376,096 |
| ANL | Amani Gold Ltd | 0.0015 | 50% | 279,986 | $23,693,441 |
| TCG | Turaco Gold Limited | 0.068 | 39% | 318,293 | $20,958,117 |
| IVZ | Invictus Energy Ltd | 0.33 | 38% | 66,493,715 | $210,326,062 |
| TMB | Tambourah Metals | 0.205 | 32% | 11,267,335 | $6,384,853 |
| NGY | Nuenergy Gas Ltd | 0.021 | 31% | 1,254,003 | $23,695,288 |
| LDX | Lumos Diagnostics | 0.05 | 25% | 844,289 | $8,396,258 |
| AQX | Alice Queen Ltd | 0.0025 | 25% | 491,000 | $4,400,500 |
| AUK | Aumake Limited | 0.005 | 25% | 19,618,788 | $3,085,788 |
| DW8 | DW8 Limited | 0.0025 | 25% | 1,769,312 | $5,903,045 |
| GMN | Gold Mountain Ltd | 0.01 | 25% | 13,689,153 | $11,865,193 |
| PVE | Po Valley Energy Ltd | 0.068 | 24% | 577,330 | $63,102,889 |
| CUL | Cullen Resources | 0.016 | 23% | 862,326 | $6,339,115 |
| RIE | Riedel Resources Ltd | 0.011 | 22% | 359,250 | $11,985,364 |
| EMH | European Metals Hldg | 0.95 | 22% | 181,147 | $92,881,841 |
| NET | Netlinkz Limited | 0.034 | 21% | 13,369,872 | $91,669,472 |
| SPT | Splitit | 0.15 | 20% | 4,833,206 | $66,501,694 |
| BPP | Babylon Pump & Power | 0.006 | 20% | 1,933,993 | $12,288,857 |
| DDT | DataDot Technology | 0.006 | 20% | 572,314 | $6,219,347 |
| SIS | Simble Solutions | 0.013 | 18% | 590,948 | $4,700,661 |
| WC1 | West Cobar Metals | 0.23 | 18% | 325,769 | $13,601,265 |
| GGE | Grand Gulf Energy | 0.02 | 18% | 5,738,684 | $26,292,381 |
| G50 | Gold50Limited | 0.2 | 18% | 128,452 | $9,680,310 |
| BBX | BBX Minerals Ltd | 0.076 | 17% | 2,622,433 | $31,636,896 |
| TYM | Tymlez Group | 0.021 | 17% | 1,401,948 | $17,808,573 |
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.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are the least performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ALY | Alchemy Resource Ltd | 0.029 | -34% | 87,948,650 | $51,615,355 |
| AO1 | Assetowl Limited | 0.001 | -33% | 10,000 | $2,358,195 |
| ARE | Argonaut Resources | 0.002 | -33% | 62,484,612 | $19,085,614 |
| GGX | Gas2Grid Limited | 0.001 | -33% | 10,491 | $6,087,153 |
| MEB | Medibio Limited | 0.001 | -33% | 200,000 | $4,980,891 |
| NZS | New Zealand Coastal | 0.003 | -25% | 1,501 | $4,508,020 |
| TD1 | Tali Digital Limited | 0.003 | -25% | 4,436,103 | $4,930,522 |
| TSC | Twenty Seven Co. Ltd | 0.0015 | -25% | 2,805,032 | $10,643,256 |
| AFA | ASF Group Limited | 0.04 | -23% | 1,721 | $41,213,836 |
| ELD | Elders Limited | 10.21 | -23% | 7,991,808 | $2,073,314,606 |
| CAU | Cronos Australia | 0.58 | -23% | 2,587,929 | $416,110,482 |
| NKL | Nickelxltd | 0.105 | -22% | 4,895,859 | $10,569,441 |
| FNX | Finexia Financial | 0.055 | -20% | 14,591 | $11,185,390 |
| GCR | Golden Cross | 0.008 | -20% | 46,056 | $10,972,561 |
| DUN | Dundas Minerals | 0.39 | -18% | 488,539 | $19,116,019 |
| NUC | Nuchev Limited | 0.185 | -18% | 30,445 | $11,642,490 |
| TGH | Terragen | 0.099 | -18% | 45,400 | $23,282,308 |
| GLV | Global Oil & Gas | 0.0025 | -17% | 821,683 | $5,620,064 |
| OAR | OAR Resources Ltd | 0.005 | -17% | 1,500 | $13,266,227 |
| LRL | Labyrinth Resources | 0.016 | -16% | 838,435 | $16,593,968 |
| AN1 | Anagenics Limited | 0.027 | -16% | 91,035 | $7,072,682 |
| 8VI | 8Vi Holdings Limited | 0.71 | -14% | 100 | $35,176,580 |
| BTR | Brightstar Resources | 0.018 | -14% | 179,030 | $15,130,450 |
| CFO | Cfoam Limited | 0.003 | -14% | 395,736 | $2,568,442 |
| DVL | Dorsavi Ltd | 0.012 | -14% | 40,000 | $6,090,087 |