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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, Guy Le Page spots a potential gold M&A, Reubs spots a potential mother lode and UBS spots… Albemarle.
But first, the day ahead.
TRADING HALTS
The following list of stocks went into trading halts and are expected out in the coming days:
Vertex Minerals (ASX:VTX) – Capital raising.
Venture Minerals (ASX:VMS) – Placement of the shortfall from Venture’s recent share purchase plan.
Trek Metals (ASX:TKM) – Capital raising.
Moho Resources (ASX:MOH) – MOH is having a capital raise… How hard could it be? (Just a little joke for all you geologists out there…).
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1972.23 (-0.19%)
Silver: $US23.650 (-0.72%)
Nickel (3mth): $US24,025/t (+2.02%)
Copper (3mth): $US9002.50/t (+0.27%)
Oil (WTI): $US72.01(-0.41%)
Oil (Brent): $US79.81 (+0.49%)
Iron 62pc Fe: $US106.50/t (+3.9%)
AUD/USD: 0.6650 (-0.0%)
Bitcoin: $US26,854 (+0.01%)
WHAT GOT YOU TALKING?
Eagle Mountain has landed…
Eagle Mountain uncovers a stack of halo hits around high-grade intercepts at Oracle Ridge🎙In this episode @Peter_Strachan sits down with Tim Mason, CEO at @eagle_mining $EM2 https://t.co/guP89OqrFi
— Stockhead (@StockheadAU) May 22, 2023
Musgrave meets paydirt…
Musgrave Minerals has hit paydirt yet again at its Cue gold project, with drilling at the Leviticus prospect delivering bonanza-grade hits and potentially unearthing a new high-grade lode outside of the existing 927,000oz resource. https://t.co/y2OMH7aDm2 #ad #ASX @Musgrave_Min
— Stockhead (@StockheadAU) May 22, 2023
There’s new nickel afoot…
Investors, including new substantial international investor Virtue Investment Corporation, have demonstrated their confidence in Widgie by subscribing for $12m worth of shares priced at 26c. https://t.co/9ZWZVtY0wE #ad #ASX @WidgieNickel
— Stockhead (@StockheadAU) May 22, 2023
For all you crypto lovers Stockhead’s Coinhead Twitter is the place to share your 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 the best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| WSR | Westar Resources | 0.073 | 46% | 77,405,706 | $5,559,711 |
| GMN | Gold Mountain Ltd | 0.004 | 33% | 1,759,109 | $5,909,798 |
| LNU | Linius Tech Limited | 0.004 | 33% | 1,261,111 | $10,767,075 |
| MCT | Metalicity Limited | 0.002 | 33% | 1,721,700 | $5,256,809 |
| TSL | Titanium Sands Ltd | 0.012 | 33% | 2,123,407 | $12,657,581 |
| DBO | Diabloresources | 0.049 | 29% | 130,682 | $2,755,000 |
| AX8 | Accelerate Resources | 0.023 | 28% | 360,664 | $6,796,832 |
| MTH | Mithril Resources | 0.0025 | 25% | 14,048,987 | $6,737,609 |
| LYN | Lycaonresources | 0.21 | 24% | 190,436 | $5,596,188 |
| RNX | Renegade Exploration | 0.016 | 23% | 6,100,022 | $12,325,609 |
| RTG | RTG Mining Inc. | 0.072 | 22% | 9,797,299 | $46,980,242 |
| AWJ | Auric Mining | 0.062 | 22% | 210,009 | $6,673,839 |
| OZZ | OZZ Resources | 0.071 | 20% | 134,997 | $4,510,513 |
| OFX | OFX Group Ltd | 1.85 | 20% | 2,637,495 | $375,143,184 |
| AD1 | AD1 Holdings Limited | 0.006 | 20% | 1,168,000 | $4,112,845 |
| GTG | Genetic Technologies | 0.003 | 20% | 3,432,624 | $28,854,145 |
| PRS | Prospech Limited | 0.045 | 18% | 11,823,097 | $8,294,554 |
| ZER | Zeta Resources Ltd | 0.355 | 18% | 11,694 | $169,057,277 |
| BTC | BTC Health Ltd | 0.02 | 18% | 331,000 | $4,791,388 |
| ADX | ADX Energy Ltd | 0.007 | 17% | 1,895,525 | $21,207,748 |
| AHN | Athena Resources | 0.0035 | 17% | 1,000,000 | $3,211,403 |
| AL8 | Alderan Resource Ltd | 0.007 | 17% | 21,428 | $3,700,168 |
| OAU | Ora Gold Limited | 0.0035 | 17% | 12,550,857 | $11,810,775 |
| SI6 | SI6 Metals Limited | 0.007 | 17% | 213,571 | $8,972,368 |
| SRY | Story-I Limited | 0.007 | 17% | 500,000 | $2,258,429 |
It was Day 2 for Westar Resources (ASX:WSR), which managed to add almost 70%, in spite of having the ASX hobble the stock for nearly 90 minutes in the middle of the day with a speeding ticket.
WSR ended on a still happy (but might have been happier…) 64% gain for the day.
Sultan Resources (ASX:SLZ) enjoyed a massive spike in interest on no news.
RTG Mining (ASX:RTG) added a solid 22% on the back of an after-hours announcement to the market that landed right in the middle of dinner time.
The announcement says that RTG has reached a comprehensive settlement of all outstanding issues with the Villar Family-controlled Sage Capital and TVI Resource Development (TVIRD), and a binding Memorandum of Agreement signed.
Under the deal, “all litigation that RTG had launched will be withdrawn as part of an agreed restructuring of the Mabilo Project”, and execution of the agreement is expected to take place in the next month or so.
The key terms of the agreement include RTG (through SRM Gold Limited) retaining a 40% interest in Mt. Labo Exploration and Development Corporation (“Mt. Labo”) with the project also developed by Mt. Labo, in line with Philippine regulatory requirements, with Sage Capital (which is owned by TVIRD) holding the remaining 60%.
RTG will have a 2% net smelter royalty (NSR), and RTG’s debt together with interest, currently in the order of US$27m (subject to audit) will be repaid out of the proceeds of Stage 1, the direct shipping portion of the project.
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:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| PYR | Payright Limited | 0.006 | -40% | 271,877 | $8,808,852 |
| IS3 | I Synergy Group Ltd | 0.007 | -30% | 5,000 | $2,890,804 |
| GES | Genesis Resources | 0.005 | -29% | 150,000 | $5,479,889 |
| TYM | Tymlez Group | 0.005 | -29% | 30,564,616 | $7,645,367 |
| ARE | Argonaut Resources | 0.0015 | -25% | 7,238,500 | $12,723,743 |
| CT1 | Constellation Tech | 0.003 | -25% | 13,251 | $5,884,801 |
| WEL | Winchester Energy | 0.003 | -25% | 100,000 | $4,081,688 |
| BGT | Bio-Gene Technology | 0.095 | -21% | 271,965 | $21,243,998 |
| AJL | AJ Lucas Group | 0.016 | -20% | 2,722,267 | $27,514,593 |
| RML | Resolution Minerals | 0.004 | -20% | 165,000 | $6,286,459 |
| AW1 | Americanwestmetals | 0.057 | -19% | 8,882,095 | $18,264,758 |
| BRN | Brainchip Ltd | 0.42 | -18% | 21,556,335 | $901,199,654 |
| LME | Limeade Inc. | 0.12 | -17% | 660 | $37,271,018 |
| MXO | Motio Ltd | 0.029 | -17% | 93,676 | $9,150,213 |
| AVE | Avecho Biotech Ltd | 0.005 | -17% | 11,302,286 | $12,972,955 |
| ENT | Enterprise Metals | 0.005 | -17% | 5,237,046 | $4,230,484 |
| GNM | Great Northern | 0.0025 | -17% | 5,128,272 | $6,408,941 |
| BDG | Black Dragon Gold | 0.038 | -16% | 96,000 | $9,030,152 |
| MLS | Metals Australia | 0.039 | -15% | 9,320,551 | $27,923,665 |
| ATV | Activeportgroupltd | 0.115 | -15% | 97,864 | $23,835,252 |
| TZN | Terramin Australia | 0.029 | -15% | 1,096,479 | $71,963,132 |
| GED | Golden Deeps | 0.006 | -14% | 2,000,050 | $8,086,587 |
| ROO | Roots Sustainable | 0.006 | -14% | 150,000 | $971,055 |
| IG6 | Internationalgraphit | 0.225 | -13% | 93,985 | $22,876,908 |
| CYP | Cynata Therapeutics | 0.13 | -13% | 1,003,437 | $26,848,664 |
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