On Stockhead today, what are ACCUs and why they are broken, a triple expert read on rising cash rates, and the AFR… loves crypto.
But first, the day ahead.
WHO’S LISTING?
INTERNATIONAL GRAPHITE (ASX:IG6)
IPO: Raised $10m at 20c per share
Listing: 12:30pm AEST
A battery-focused graphite stock.
While there is a general trend for graphite explorers and miners to subsequently move downstream to capture more value, IG6 was established first-and-foremost with a focus on the downstream space.
IG6 has already established a piloting facility (a smaller version of a commercial plant), for the downstream processing of graphite products, in the regional town of Collie in WA’s South West, with the support of a $2m grant from the WA government.
The purified micronised and spheronised graphite, which IG6 plans to produce initially, attracts ~$US3500/t.
IPO: Raised $4.5m at 20c per share
Listing: 11:30am AEST
A lithium-gold-base metals explorer with 5 projects in WA.
Its ‘Horse Rocks’ project near Coolgardie is considered prospective for pegmatite hosted lithium (spodumene), nickel sulphide and orogenic gold mineralisation, it says.
“Historical drilling has identified elevated nickel within the ultramafic sequences, along with gold anomalism in surface sampling,” it says.
“The lack of previous exploration focused on lithium mineralisation provides a significant opportunity for the company.”
TRADING HALTS
The following companies are in trading halts and are expected out in the coming days:
TMK Energy (ASX:TMK) – price query response
K2fly (ASX:K2F) – strategic investment and capital raising pursuant to a placement
Miramar Resources (ASX:M2R) – exploration results
Pathfinder Resources (ASX:PF1) – potential acquisition
Golden State Mining Limited (ASX:GSM) – capital raising
Metgasco Ltd (ASX:MEL) – drilling results at its Cervantes-1 well
Inca Minerals (ASX:ICG) – pending assay results
Okapi Resources (ASX:OKR) – material acquisition
Hartshead Resources NL (ASX:HHR) – pending a material update to gas volumes at the Production Seaward License P2607
Golden Deeps (ASX:GED) – capital raising
Legacy Iron Ore (ASX:LCY) – execution of a joint venture agreement in relation to the Mt Bevan iron ore project
Nova Minerals (ASX:NVA) – pending an announcement regarding the investment in Snow Lake Resources
Hawthorn Resources (ASX:HAW) – managing continuous disclosure obligations ahead of an announcement in relation to the execution of a joint venture agreement of the Mt Bevan iron ore project
MARKETS (updated at 8am AEDT)
Gold: $US1,921.82 (-0.50%)
Silver: $US24.29 (-0.87%)
Oil (WTI): $US100.90 (-2.30%)
Oil (Brent): $US105.53 (-1.86%)
Aust Coking Coal (steelmaking): $406.7/t (-9.6%)
Newcastle Coal (thermal): $264/t (+2.0%)
Iron 62pc Fe: $US161.25 (-0.36%)
AUD/USD: $US0.7584 (+0.1%)
Bitcoin: $US45,810 (-2%)
WHAT GOT YOU TALKING YESTERDAY?
..and one of ~17 lithium stocks in the top 50.
Deutsche Bank calls it. RECESSION INCOMING.
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Also, be sure to check in at 10.20am each day for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.
YESTERDAY’S BIGGEST SMALL CAP WINNERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Description | Price | % | Volume |
|---|---|---|---|---|
| EMP | Emperor Energy Ltd | 0.072 | 60.0% | 56,984,193 |
| BRX | Belararoxlimited | 1.11 | 56.3% | 1,592,378 |
| GGX | Gas2Grid Limited | 0.0035 | 40.0% | 57,805,163 |
| TMK | TMK Energy Limited | 0.018 | 38.5% | 47,124,135 |
| LRS | Latin Resources Ltd | 0.215 | 30.3% | 83,026,090 |
| AQD | Ausquest Limited | 0.029 | 26.1% | 8,274,838 |
| JXT | Jaxstaltd | 0.035 | 25.0% | 10,524,591 |
| AD1 | AD1 Holdings Limited | 0.02 | 25.0% | 1,434,561 |
| KEY | KEY Petroleum | 0.0025 | 0.0% | 40,000 |
| XTC | Xantippe Res Ltd | 0.016 | 23.1% | 218,962,590 |
| GGE | Grand Gulf Energy | 0.058 | 20.8% | 44,856,103 |
| BXN | Bioxyne Ltd | 0.018 | 20.0% | 200,000 |
| SFG | Seafarms Group Ltd | 0.018 | 20.0% | 13,138,588 |
| AFW | Applyflow Limited | 0.003 | 20.0% | 666,666 |
| TYX | Tyranna Res Ltd | 0.006 | 20.0% | 4,554,914 |
| TEM | Tempest Minerals | 0.125 | 19.0% | 34,148,415 |
| IGN | Ignite Ltd | 0.165 | 17.9% | 62,721 |
| CR1 | Constellation Res | 0.27 | 17.4% | 39,931 |
| BTC | BTC Health Ltd | 0.068 | 17.2% | 666 |
| BDG | Black Dragon Gold | 0.076 | 16.9% | 706,324 |
| ADD | Adavale Resource Ltd | 0.049 | 16.7% | 4,257,802 |
| LSR | Lodestar Minerals | 0.021 | 16.7% | 54,263,823 |
| IPT | Impact Minerals | 0.014 | 16.7% | 18,795,021 |
| MRZ | Mont Royal Resources | 0.39 | 16.4% | 238,762 |
| HOR | Horseshoe Metals Ltd | 0.043 | 16.2% | 505,948 |
After IPOing in January, explorer Belararox (ASX:BRX) has surged 455%, and is now trading at $1.11.
This makes it one of the best performing ASX IPOs for 2022 and really suggests that there’s something exciting in the ground at its historical Belara copper-zinc project in NSW.
BRX puts the share price rise down to the soaring zinc price.
Gas2Grid (ASX:GGX) is acquiring a 60% interest in two of Santos’ (ASX:STO) licences in the gas-rich Cooper Basin of Queensland.
And high-flyin’ punter favourite Latin Resources (ASX:LRS) picked up more ground around its high grade ‘Salinas’ lithium project in Brazil.
YESTERDAY’S BIGGEST SMALL CAP LOSERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| ADN | Andromeda Metals Ltd | 0.115 | -34.3% | 148,323,920 |
| KFE | Kogi Iron Ltd | 0.006 | -25.0% | 13,015,845 |
| NTL | New Talisman Gold | 0.0015 | -25.0% | 66,666 |
| CXM | Centrex Limited | 0.165 | -21.4% | 10,437,600 |
| AQS | Aquis Ent Ltd | 0.14 | -20.0% | 14,295 |
| DXN | DXN Limited | 0.009 | -18.2% | 4,749,751 |
| POW | Protean Energy Ltd | 0.009 | -18.2% | 12,770,564 |
| RD1 | Registry Direct | 0.019 | -17.4% | 760,000 |
| ODA | Orcoda Limited | 0.13 | -16.1% | 442,535 |
| ATV | Activeportgroupltd | 0.11 | -15.4% | 270,540 |
| BOA | Boadicea Resources | 0.2 | -14.9% | 494,726 |
| FG1 | Flynngold | 0.175 | -14.6% | 667,605 |
| AKM | Aspire Mining Ltd | 0.077 | -14.4% | 471,100 |
| HCD | Hydrocarbon Dynamic | 0.012 | -14.3% | 287,660 |
| SKY | SKY Metals Ltd | 0.095 | -13.6% | 136,640 |
| MIO | Macarthur Minerals | 0.485 | -13.4% | 339,109 |
| SFM | Santa Fe Minerals | 0.13 | -13.3% | 167,635 |
| MLS | Metals Australia | 0.135 | -12.9% | 32,194,075 |
| AQX | Alice Queen Ltd | 0.007 | -12.5% | 650,000 |
| LCT | Living Cell Tech. | 0.007 | -12.5% | 179,090 |
| BCT | Bluechiip Limited | 0.035 | -12.5% | 86,378 |
| EUR | European Lithium Ltd | 0.14 | -12.5% | 20,184,720 |
| ZBT | Zebit Inc. | 0.042 | -12.5% | 57,715 |
| UUL | Ultima Utd Ltd | 0.18 | -12.2% | 19,370 |
| CGB | Cann Global Limited | 0.036 | -12.2% | 1,935,603 |
Former market darling Andromeda Metals (ASX:ADN) was obliterated after a definitive feasibility study (DFS) — the most advanced of all studies — on the ‘Great White’ kaolin project did not live up to expectations.
Internal rate of return, a measure of the profitability of a project, plummeted from 175% in the PFS to 36% in the DFS. Initial capex increased from $28m to $93.8m. Ouch.