On Stockhead today, the ASX rare earths plays getting their Big Boy Pants in 2023, stock tips with MOATs in them, and our pet day trader gets completely bankered.
But first, the day ahead.
TRADING HALTS
The following stocks went into trading halts Friday and are expected out in the coming days:
Province Resources (ASX:PRL) – Material update in relation to a Binding Term Sheet entered into with Total Eren Australia.
Mandrake Resources (ASX:MAN) – Material transaction in relation to a new project.
Zelira Therapeutics (ASX:ZLD) – Director appointment.
King River Resources (ASX:KRR) – Sale transaction announcement.
Aston Minerals (ASX:ASO) – Announcement regarding a maiden nickel resource.
Tivan (ASX:TVN) – Announcement of an acquisition transaction.
Rimfire Pacific Mining (ASX:RIM) – Capital raising.
Bastion Minerals (ASX:BMO) – Announcement with respect to the option agreement to acquire the lithium royalty and projects portfolio first announced to the ASX on 5 December 2022.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1,842.39 (+0.27%)
Silver: $US21.72 (+0.56%)
Nickel (3mth): $US26,489/t (+1.32%)
Copper (3mth): $US9.023.00/t (+1.87%)
Oil (WTI): $US76.34 (-2.74%)
Oil (Brent): $US82.98 (-2.54%)
Iron 62pc Fe: $US127.50/t (+0.39%)
AUD/USD: 0.6879 (+0.04%)
Bitcoin: $US24,593 (+0.45%)
WHAT GOT YOU TALKING OVER THE WEEKEND?
Tesla mulls purchase of near-term lithium miner, Sigma (NASDAQ: SGML) – “one of multiple options Tesla is exploring”.
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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.
LAST WEEK’S ASX SMALL CAP LEADERS
Here are last week’s best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| ECG | eCargo Holdings | 0.035 | 94% | $20,303,250 |
| RVS | Revasum | 0.295 | 55% | $25,419,997 |
| OM1 | Omnia Metals Group | 0.29 | 53% | $8,448,913 |
| ARE | Argonaut Resources | 0.003 | 50% | $19,085,614 |
| RR1 | Reach Resources Ltd | 0.006 | 50% | $11,460,304 |
| VPR | Volt Power Group | 0.0015 | 50% | $16,074,312 |
| CBH | Coolabah Metals Limi | 0.155 | 48% | $5,062,500 |
| MEG | Megado Minerals Ltd | 0.063 | 47% | $5,912,500 |
| EMU | EMU NL | 0.004 | 43% | $2,749,072 |
| FAL | Falcon Metals | 0.32 | 42% | $60,180,000 |
| RMY | RMA Global | 0.135 | 42% | $61,373,690 |
| MRI | My Rewards International | 0.03 | 36% | $7,770,317 |
| JPR | Jupiter Energy | 0.038 | 36% | $40,585,054 |
| RBX | Resource B | 0.155 | 35% | $7,704,427 |
| KP2 | Kore Potash PLC | 0.016 | 33% | $9,977,733 |
| LDX | Lumos Diagnostics | 0.04 | 33% | $7,992,736 |
| MGG | Mogul Games Grp Ltd | 0.002 | 33% | $6,526,882 |
| AJX | Alexium Int Group | 0.026 | 30% | $16,783,704 |
| BLZ | Blaze Minerals Ltd | 0.013 | 30% | $4,777,607 |
| MGT | Magnetite Mines | 0.755 | 28% | $59,153,803 |
| PUR | Pursuit Minerals | 0.028 | 27% | $33,133,946 |
| LBY | Laybuy Group Holding | 0.033 | 27% | $8,240,966 |
| MTL | Mantle Minerals Ltd | 0.0025 | 25% | $13,364,013 |
| AGD | Austral Gold | 0.059 | 23% | $36,126,370 |
| CMO | Cosmo Metals | 0.165 | 22% | $4,209,150 |
| MKL | Mighty Kingdom Ltd | 0.05 | 22% | $16,637,199 |
| REC | Recharge Metals | 0.145 | 21% | $5,770,275 |
| SNX | Sierra Nevada Gold | 0.29 | 21% | $12,072,081 |
| AVW | Avira Resources Ltd | 0.003 | 20% | $6,401,370 |
| IEC | Intra Energy Corp | 0.006 | 20% | $4,234,690 |
| INP | Incentiapay Ltd | 0.006 | 20% | $8,855,445 |
| KNB | Koonenberry Gold | 0.06 | 20% | $4,545,387 |
| MCT | Metalicity Limited | 0.003 | 20% | $10,476,118 |
| OXX | Octanex Ltd | 0.006 | 20% | $1,553,866 |
| PUA | Peak Minerals Ltd | 0.006 | 20% | $6,248,260 |
| SIS | Simble Solutions | 0.012 | 20% | $6,395,409 |
| THR | Thor Energy PLC | 0.006 | 20% | $8,853,677 |
| MAT | Matsa Resources | 0.043 | 19% | $19,364,217 |
| BMT | Beamtree Holdings | 0.34 | 19% | $78,315,648 |
| SOV | Sovereign Cloud Hldg | 0.155 | 19% | $22,956,841 |
| SHO | Sportshero Ltd | 0.019 | 19% | $11,500,022 |
| TCG | Turaco Gold Limited | 0.064 | 19% | $27,801,583 |
| SLM | Solis Minerals | 0.13 | 18% | $5,583,414 |
| WMG | Western Mines | 0.195 | 18% | $8,616,825 |
| PGH | Pact Group Hldgs Ltd | 1.185 | 18% | $395,933,561 |
| CVN | Carnarvon Energy Ltd | 0.17 | 17% | $306,031,774 |
| AMD | Arrow Minerals | 0.007 | 17% | $15,202,591 |
| CXU | Cauldron Energy Ltd | 0.007 | 17% | $7,452,544 |
| DCX | Discovex Res Ltd | 0.0035 | 17% | $13,210,272 |
| PNX | PNX Metals Limited | 0.0035 | 17% | $17,776,231 |
Asian ecommerce minnow e-Cargo Holdings (ASX:ECG) jumped almost 100% last week on no news.
Omnia Metals (ASX:OM1) identified a 2.3km long, 440m wide lithium target at the soon-to-be-acquired 540sqkm Lac des Montagnes tenement package in Quebec, Canada.
Reach Resources (ASX:RR1) picked up four tenements prospective for lithium, rare earth element (REE) and manganese in WA.
Meanwhile, Megado Minerals (ASX:MEG) is buying the large scale Cyclone lithium project in the popular Canadian jurisdiction of James Bay, Quebec.
The project is close to significant lithium discoveries like Patriot Battery Metals’ (ASX:PMT) Corvette project, and Winsome Resources’ (ASX:WR1) Adina project.
Some dodgy business happening over in Zambia, where Argonaut Resources’ (ASX:ARE) Lumwana West exploration licence was recently cancelled and then granted to another party within 30 days.
ARE is, of course, appealing. The company said that the High Court made a ruling which compels the Minister who made the original call to decide the appeal within 30 days.
And Falcon Metals (ASX:FAL) reported multiple high grade gold hits at Ironbark East, part of the flagship Pyramid Hill project in Victoria.
Highlights include 12m @ 6.18g/t gold from 74m, including 1m @ 52.9g/t from 77m – the highest-grade gold intercept to date at Pyramid Hill.
LAST WEEK’S ASX SMALL CAP LAGGARDS
Here are last week’s worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| EX1 | Exopharm Limited | 0.015 | -77% | $2,358,173 |
| TTB | Total Brain Ltd | 0.002 | -67% | $401,163 |
| TMZ | Thomson Res Ltd | 0.007 | -59% | $6,959,608 |
| PVS | Pivotal Systems | 0.021 | -55% | $3,190,075 |
| AQX | Alice Queen Ltd | 0.001 | -50% | $3,795,431 |
| GLV | Global Oil & Gas | 0.001 | -50% | $6,857,606 |
| SIH | Sihayo Gold Limited | 0.001 | -50% | $6,102,128 |
| XST | Xstate Resources | 0.0015 | -40% | $6,430,363 |
| SPA | Spacetalk Ltd | 0.059 | -38% | $18,933,558 |
| AL3 | Aml3D | 0.073 | -37% | $17,918,947 |
| CLZ | Classic Min Ltd | 0.0045 | -36% | $5,756,635 |
| CAQ | CAQ Holdings Ltd | 0.016 | -36% | $11,484,580 |
| AHQ | Allegiance Coal Ltd | 0.014 | -33% | $11,053,855 |
| EVE | EVE Health Group Ltd | 0.001 | -33% | $5,274,483 |
| HHI | Health House Int Ltd | 0.008 | -33% | $1,130,637 |
| WBE | Whitebark Energy | 0.001 | -33% | $6,464,886 |
| PNR | Pantoro Limited | 0.062 | -30% | $104,950,414 |
| WEC | White Energy Company | 0.2 | -30% | $8,519,551 |
| MBK | Metal Bank Ltd | 0.023 | -30% | $6,359,167 |
| AXP | AXP Energy Ltd | 0.0025 | -29% | $17,474,042 |
| NXL | Nuix Limited | 1.095 | -29% | $350,632,847 |
| TPW | Temple & Webster Ltd | 3.76 | -28% | $445,077,921 |
| CY5 | Cygnus Metals Ltd | 0.345 | -28% | $61,597,861 |
| AHN | Athena Resources | 0.006 | -25% | $6,422,805 |
| AYM | Australia United Min | 0.003 | -25% | $7,370,310 |
| CTN | Catalina Resources | 0.009 | -25% | $11,146,382 |
| GES | Genesis Resources | 0.006 | -25% | $4,697,048 |
| KEY | KEY Petroleum | 0.0015 | -25% | $2,951,892 |
| NES | Nelson Resources | 0.006 | -25% | $3,531,566 |
| ROO | Roots Sustainable | 0.0015 | -25% | $1,558,829 |
| AW1 | American West Metals | 0.052 | -24% | $7,247,795 |
| ADS | Adslot Ltd. | 0.008 | -24% | $17,634,787 |
| EGG | Enero Group Ltd | 2.27 | -24% | $213,256,860 |
| SGA | Sarytogan | 0.355 | -23% | $24,101,373 |
| SVL | Silver Mines Limited | 0.15 | -23% | $210,602,946 |
| LNR | Lanthanein Resources | 0.02 | -23% | $22,431,511 |
| TUL | Tulla Resources | 0.265 | -23% | $60,661,809 |
| LCT | Living Cell Tech. | 0.009 | -22% | $12,210,955 |
| W2V | Way2Vatltd | 0.018 | -22% | $3,962,734 |
| SGR | The Star Ent Grp | 1.48 | -22% | $1,399,460,889 |
| NYM | Narryer Metalsl | 0.105 | -22% | $3,658,500 |
| FZR | Fitzroy River Corp | 0.135 | -21% | $14,573,824 |
| HIL | Hills Ltd | 0.027 | -21% | $6,263,609 |
| LER | Leaf Res Ltd | 0.015 | -21% | $27,150,583 |
| NGS | NGS Ltd | 0.026 | -21% | $4,004,301 |
| PVW | PVW Res Ltd | 0.11 | -21% | $10,697,516 |
| HYD | Hydrix Limited | 0.048 | -20% | $12,456,724 |
| LNU | Linius Tech Limited | 0.002 | -20% | $6,268,826 |
| RFA | Rare Foods Australia | 0.072 | -20% | $14,540,890 |
| RIE | Riedel Resources Ltd | 0.008 | -20% | $12,345,364 |
Cash-strapped biotech featherweight Exopharm (ASX:EX1) saw its shares crater following a bid to raise $2.1 million.
To stay afloat the company will seek to raise cash via a combo of $1.5m raise at 1c per share (an 85% discount to the Feb 7 price of 7c) and $600,000 convertible note (secured to the company’s IP, converting at a 20% discount to the entitlement issue price of 1c).
Similarly, silver explorer Thomson Resources (ASX:TMZ) plummeted after announcing plans to raise up to $1.74m at an almost 90% discount to the last share price. Unheard of.
TMZ executive chairman David Williams has also resigned “due to personal reasons”, effective immediately.