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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, Q1 for local and global markets – and March in particular – proved an absolute test case in making money in a crisis and somehow getting away with it.
The Nasdaq really pulled off a stunner of an opening quarter (up about 17%), but in a game with four of them, it’s best no one loses their mind quite yet.
On the home front, Ooh Ahh Nadine McGrath goes through the slo-mo replays of what happened at home for what was a golden March run chase and breaks down the ASX stocks that got the job done,
Also padding up – Goldman’s best bets for the coming AI arms race, and one for the tail enders: How to spot a quality stock and hit it out of the ground.
April, they say, is the month to play.
Welcome to Stockhead. Small caps and sport. It’s a particular niche.
Now first, the day ahead.
IT’S RBA TUESDAY
Ahead of the RBA decision, the major banks have put our money where their mouth is (again):
CBA forecasting 3.60% peak cash rate. None today and done already.
NAB forecasting 3.85% peak cash rate. Lift today and that’s it.
WBC forecasting 3.85% peak cash rate. Not today, one for May and doneski.
ANZ has a 4.10% peak cash rate. One today, one in May and then it’s a dog’s dinner.
TRADING HALTS
The following stocks went into trading halts Monday and are expected out in the coming days:
Frontier Digital Ventures (ASX:FDV) – Equity raising.
Elementos (ASX:ELT) – Capital raising.
Fin Resources (ASX:FIN) – Proposed acquisition.
Sarytogan Graphite (ASX:SGA) – Capital raising.
Singular Health Group (ASX:SHG) – Capital raising.
Clara Resources Australia (ASX:C7A) – Capital raising.
Elixinol Wellness (ASX:EXL) – Capital raising.
Li-S Energy Limited (ASX:LIS) – Research and development results.
Botanix Pharmaceuticals (ASX:BOT) – Capital raising.
Tribeca Global Natural Resources (ASX:TGF) – Entitlement offer shortfall.
Ausgold (ASX:AUC) – Capital raising.
PPK Group (ASX:PPK) – Waiting on Li-S to drop its research and development results.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1,969.17 (+0.81%)
Silver: $US24.08 (-0.44%)
Nickel (3mth): $US23,199/t (-2.29%)
Copper (3mth): $US9001.00/t (-0.02%)
Oil (WTI): $US80.50 (+6.51%)
Oil (Brent): $US80.09 (+6.34%)
Iron 62pc Fe: $US127/t (+0.83%)
AUD/USD: 0.65685 (-0.33%)
Bitcoin: $US27,773 (-1.08%)
WHAT GOT YOU TALKING?
The marvellous Abitibi Hub…
Burley is doubling down on its belief in the hard rock lithium prospectivity of the Abitibi Hub district of Quebec, Canada, by moving to acquire the Bouvier project. https://t.co/ihfrKhvncx #ad #ASX $BUR
— Stockhead (@StockheadAU) April 3, 2023
Keep up to date with Stockhead coverage or you’ll miss gold like that EVERY DAY. Follow our Twitter page.
For all you crypto lovers Stockhead’s Coinhead Twitter is the place to get and share 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.
ASX SMALL CAP LEADERS
Here are Monday’s best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| OLY | Olympio Metals Ltd | 0.18 | 64% | 2,911,528 | $4,311,617 |
| CLZ | Classic Min Ltd | 0.0015 | 50% | 30,875,260 | $2,437,440 |
| PNX | PNX Metals Limited | 0.003 | 50% | 535,243 | $10,761,249 |
| OD6 | OD6 Metals | 0.3025 | 48% | 8,396,820 | $11,278,177 |
| ICN | Icon Energy Limited | 0.008 | 33% | 641,800 | $4,608,082 |
| PPK | PPK Group Limited | 1.225 | 30% | 260,721 | $84,378,382 |
| LER | Leaf Res Ltd | 0.018 | 29% | 2,138,035 | $25,340,544 |
| BML | Boab Metals Ltd | 0.25 | 28% | 1,285,374 | $34,020,240 |
| 88E | 88 Energy Ltd | 0.0115 | 28% | 142,262,186 | $180,970,814 |
| EOS | Electro Optic Systems | 0.58 | 27% | 4,240,247 | $77,912,383 |
| ADD | Adavale Resource Ltd | 0.019 | 27% | 2,115,749 | $7,792,891 |
| PRS | Prospech Limited | 0.024 | 26% | 425,314 | $1,929,324 |
| RDN | Raiden Resources Ltd | 0.005 | 25% | 24,144,438 | $6,618,330 |
| NWM | Norwest Minerals | 0.036 | 24% | 2,688,209 | $7,173,765 |
| AQS | Aquis Ent Ltd | 0.18 | 24% | 861,838 | $5,179,281 |
| AEV | Avenira Limited | 0.017 | 21% | 15,677,050 | $17,433,781 |
| LMG | Latrobe Magnesium | 0.069 | 21% | 3,964,259 | $92,527,266 |
| BTE | Botala Energy | 0.13 | 18% | 243,553 | $5,864,833 |
| DM1 | Desert Metals | 0.13 | 18% | 17,000 | $7,979,519 |
| JRV | Jervois Global Ltd | 0.078 | 18% | 36,445,244 | $137,231,224 |
| GML | Gateway Mining | 0.053 | 18% | 805,867 | $11,985,009 |
| GHY | Gold Hydrogen | 0.4 | 18% | 32,431 | $17,340,000 |
| ADG | Adelong Gold Limited | 0.0105 | 17% | 710,751 | $4,804,401 |
| ADX | ADX Energy Ltd | 0.007 | 17% | 615,783 | $21,207,748 |
| NML | Navarre Minerals Ltd | 0.028 | 17% | 3,623,469 | $36,069,100 |
Electro Optic Systems (ASX:EOS) won an exciting contract with SpetsTechnoExport (“STE”), a Ukrainian state-owned foreign trade enterprise, to supply up to 100 EOS heavy RWS units to Ukraine, including spares and related services.
The contract, worth around $120 million over 2023-24, is conditional on demonstration testing over the coming weeks, and subject to other customary terms for military contracts.
EOS was trading 32% higher on the news earlier on Monday.
Not as good as Olympio Metals (ASX:OLY), which found 77% in early trade on news of a farm-in agreement with flavour of last month, Liontown Resources (ASX:LTR) that would see LTR getting its mits into OLY’s Mulline and Mulwarrie lithium projects in the Eastern Goldfields of Western Australia.
Under the deal, Liontown is set to complete 1,100 soil samples across the projects before progressing to Stage 1 of a two-stage earn-in.
OD6 Metals (ASX:OD6) says some “very high metallurgical recoveries” have been achieved from samples including:
- Prop Prospect – 44% to 96% recovery of MagREE (average 71%)
- Centre Prospect – 54% to 78% recovery of MagREE (average 62%)
- Scrum & Flanker Prospects – 64% and 76% recovery of MagREE respectively (one sample each).
Up 50%.
ASX SMALL CAP LAGGARDS
Here are the least best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| GCR | Golden Cross | 0.003 | -40% | 1,391,233 | $5,486,281 |
| AVE | Avecho Biotech Ltd | 0.006 | -33% | 18,499,341 | $16,540,824 |
| CCE | Carnegie Cln Energy | 0.001 | -33% | 511,333 | $23,463,861 |
| TMG | Trigg Minerals Ltd | 0.017 | -32% | 4,043,631 | $5,034,616 |
| LAW | Lawfinance Ltd | 0.006 | -25% | 102,674 | $510,941 |
| LNU | Linius Tech Limited | 0.003 | -25% | 10,235,020 | $12,918,985 |
| COY | Coppermoly Limited | 0.007 | -22% | 95,238 | $19,745,612 |
| EMP | Emperor Energy Ltd | 0.018 | -22% | 1,230,000 | $6,183,837 |
| TFL | Tasfoods Ltd | 0.028 | -20% | 19,386 | $15,298,343 |
| VRX | VRX Silica Ltd | 0.1 | -20% | 757,066 | $70,050,379 |
| EMU | EMU NL | 0.002 | -20% | 2,618,944 | $3,625,053 |
| FIJ | Fiji Kava Limited | 0.004 | -20% | 4,662,533 | $1,923,005 |
| MCT | Metalicity Limited | 0.002 | -20% | 225,000 | $8,761,348 |
| PUA | Peak Minerals Ltd | 0.004 | -20% | 226,600 | $5,206,883 |
| PYR | Payright Limited | 0.016 | -20% | 10,099 | $11,244,864 |
| THR | Thor Energy PLC | 0.004 | -20% | 2,144,946 | $7,390,564 |
| DC2 | Dctwo | 0.022 | -19% | 20,000 | $3,045,327 |
| ORN | Orion Minerals Ltd | 0.014 | -18% | 207,851 | $92,917,933 |
| M24 | Mamba Exploration | 0.1 | -17% | 690,633 | $7,318,001 |
| RFX | Redflow Limited | 0.23 | -16% | 622,451 | $49,422,825 |
| ETM | Energy Transition | 0.038 | -16% | 1,169,859 | $61,008,481 |
| NXL | Nuix Limited | 1.12 | -15% | 1,599,756 | $420,686,384 |
| 8VI | 8Vi Holdings Limited | 0.5 | -15% | 12,243 | $24,793,132 |
| ADS | Adslot Ltd. | 0.006 | -14% | 1,000,000 | $15,430,439 |
| MRD | Mount Ridley Mines | 0.003 | -14% | 9,493,669 | $27,247,090 |
