Rise and Shine: Everything you need to know before the ASX opens

On Stockhead today, Canada’s a hotbed of many things, and now they can add rare earths exploration to the list. We ask who, the how, why and where.

But first, the day ahead.

TRADING HALTS

The following stocks went into trading halts and are expected out in the coming days:

Appen (ASX:APX) – There’s a pro rata accelerated non-renounceable entitlement offer and institutional placement, but not much else is ‘appening. *badum-tish*.

Intra Energy Corporation (ASX:IEC) – Material transaction and capital raising.

Gefen International A.I. (ASX:GFN) – Application to be removed from the Official List of ASX.

Zeta Resources (ASX:ZER) – Clarifying announcement related to Zeta’s shareholding in Alliance Mining Commodities.

White Cliff Minerals (ASX:WCN) – Material acquisition of exploration projects.

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: $US1990.53 (-1.52%)

Silver: $US23.50 (-1.42%)

Nickel (3mth): $US24,025/t (+2.02%)

Copper (3mth): $US9002.50/t (+0.27%)

Oil (WTI): $US70.58 (-0.42%)

Oil (Brent): $US78.51 (+0.46%)

Iron 62pc Fe: $US106.50/t (+3.9%)

AUD/USD: 0.6658 (-0.34%)

Bitcoin: $US27,156 -1.24%)

WHAT GOT YOU TALKING?

Some Argey-bargey

$PNN will buy the Laguna Verde lithium-brine project from @Ultra_Lithium for 50m shares.

Last year, Ultra and Zangge Mining pledged US$290m to develop the project before the deal fell through due to Gov ban on Chinese investment. #ASX @PowerMin_PNN

https://t.co/0oC2EayhvT

— Stockhead (@StockheadAU) May 16, 2023

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 the best performing ASX small cap stocks:
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Power Minerals (ASX:PNN), jumped 26.5% after it announced that it had entered into a binding agreement with Fuyang Mingjin New Energy Development, to offload its non-core Santa Ines Copper-Gold Project in Salta Province, Argentina, as part of its strategy to shift focus towards becoming a major player in the South American lithium space.

To that end, Power also announced that its has acquired the 7,568 hectare Laguna Verde lithium-brine project plus 250,000+ hectares of prospective properties in Catamarca Province, north-west Argentina from TSX-V-listed Ultra Lithium.

Euro Manganese (ASX:EMN), gained circa 20% for the day after releasing a company presso.

 Australian Strategic Materials (ASX:ASM) also up circa 20%, after forging a strategic partnership with US based rare earth magnet manufacturer Noveon Magnetics through an agreement for the sale of neodymium iron boron (NdFeB) alloy from the Korean Metals Plant.

Honourable mention goes to Toys’R’Us (ASX:TOY), which found circa % today after yesterday’s news that Group CEO Louis Mittoni was stepping down and Kevin Moore will combine the roles of Chief Executive Officer and Non-Exec Chair .

TODAY’S 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: