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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, Fortescue Lithium Group has been very busy.
The US debt ceiling scenarios you need to know – including the one where the S&P500 dies by about a third – and the few places you can hide.
There’s a big market in a modern world for diabetes drugs that also you get off the beers and shed the kegs.
Finally, Credit Suisse want you to know that once interest rates finally start falling the stock markets will follow… and that’s according to history – the former Swiss bank says – not just according to their analysis or opinion… which they probably accept also counts for not a heap at the moment.
But hey! 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) – Capital raising
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?
360 view.
After a bumpy ride for tech stocks @Life360 is up 42% in the past month and its CEO reckons it’s a good example of how investors can get both value and growth from a tech company. https://t.co/63WJnaON3N #ASX pic.twitter.com/X7npb4v9NP
— Stockhead (@StockheadAU) May 24, 2023
I like this CaTL.
• Investment banks bullish again on the #Lithium sector, making sold down stocks look attractive
• Canaccord’s best lithium stock IN THE WORLD (for upside) is @ctlithium $CTL
• #ASX small caps of the week: @Westar_Res, Wildcat $WC8 $WSR— Stockhead (@StockheadAU) May 23, 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 |
|---|---|---|---|---|---|
| RB6 | Rubixresources | 0.26 | 44% | 5,904,913 | $5,049,000 |
| CBR | Carbon Revolution | 0.175 | 40% | 4,942,787 | $26,489,378 |
| RMX | Red Mount Min Ltd | 0.004 | 33% | 737,929 | $6,815,553 |
| K2F | K2Fly Ltd | 0.115 | 31% | 317,892 | $15,427,702 |
| NYM | Narryermetalslimited | 0.13 | 30% | 80,850 | $3,048,750 |
| DXN | DXN Limited | 0.0025 | 25% | 300,000 | $3,442,630 |
| RML | Resolution Minerals | 0.005 | 25% | 163,000 | $5,029,167 |
| OCT | Octava Minerals | 0.155 | 24% | 431,847 | $4,645,314 |
| BMG | BMG Resources Ltd | 0.016 | 23% | 75,898,843 | $6,077,364 |
| PVL | Powerhouse Ven Ltd | 0.06 | 22% | 50,000 | $5,916,416 |
| TMX | Terrain Minerals | 0.0085 | 21% | 19,861,998 | $7,582,395 |
| ADO | Anteotech Ltd | 0.04 | 21% | 6,145,629 | $67,647,971 |
| PAB | Patrys Limited | 0.012 | 20% | 4,821,484 | $20,572,684 |
| RRR | Revolverresources | 0.13 | 18% | 127,869 | $12,248,401 |
| CSX | Cleanspace Holdings | 0.3 | 18% | 125,093 | $19,639,978 |
| LME | Limeade Inc. | 0.14 | 17% | 64,442 | $30,844,980 |
| AD1 | AD1 Holdings Limited | 0.007 | 17% | 200,000 | $4,935,414 |
| CXU | Cauldron Energy Ltd | 0.007 | 17% | 100,000 | $5,589,412 |
| PYR | Payright Limited | 0.007 | 17% | 517,265 | $5,285,311 |
| RNT | Rent.Com.Au Limited | 0.028 | 17% | 975,519 | $12,327,701 |
| EMC | Everest Metals Corp | 0.085 | 16% | 628,256 | $9,448,617 |
| MEG | Megado Minerals Ltd | 0.051 | 16% | 11,529,717 | $11,196,045 |
| DES | Desoto Resources | 0.11 | 16% | 54,090 | $5,693,018 |
| AAU | Antilles Gold Ltd | 0.037 | 16% | 1,732,768 | $18,571,177 |
| OSL | Oncosil Medical | 0.015 | 15% | 12,603,016 | $25,720,299 |
Rubix Resources (ASX:RB6) and BMG Resources (ASX:BMG) jumped early, Rubix taking line honours on 41.7%, after entering into a binding agreement to acquire 100% of the Ceiling Lithium Project in the James Bay Region of Quebec, Canada.
That’s the bit of Canada where Patriot Battery Metals (ASX:PMT) and Allkem (ASX:AKE) are hanging out for the winter, loaded for bear, but aiming for lithium.
Carbon fibre wheel manufacturer Carbon Revolution (ASX:CBR) has jumped 36% on news that the company has established a new US$60 million debt program.
CBR says the loan will be put towards “new funding for further Mega-line automation and capacity expansion, general corporate and other working capital purposes of up to US$37.0 million”
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 |
|---|---|---|---|---|---|
| GGX | Gas2Grid Limited | 0.001 | -33% | 5,500,000 | $6,115,653 |
| GFN | Gefen Int | 0.005 | -29% | 361,133 | $476,701 |
| PIM | Pinnacleminerals | 0.115 | -26% | 847,595 | $3,964,125 |
| PUA | Peak Minerals Ltd | 0.003 | -25% | 18,619,600 | $4,165,506 |
| UNI | Universal Store | 3.13 | -24% | 3,357,101 | $317,624,153 |
| OLL | Openlearning | 0.03 | -23% | 440,934 | $10,446,894 |
| FGL | Frugl Group Limited | 0.007 | -22% | 18,785 | $8,604,558 |
| TNY | Tinybeans Group Ltd | 0.16 | -20% | 142,355 | $12,277,091 |
| AYT | Austin Metals Ltd | 0.004 | -20% | 566,739 | $5,079,373 |
| MTH | Mithril Resources | 0.002 | -20% | 9,701,250 | $8,422,011 |
| RBR | RBR Group Ltd | 0.002 | -20% | 120,000 | $4,046,012 |
| WSR | Westar Resources | 0.062 | -19% | 54,034,621 | $8,561,955 |
| 29M | 29Metalslimited | 0.825 | -19% | 11,115,218 | $491,693,134 |
| MEM | Memphasys Ltd | 0.017 | -19% | 255,380 | $20,149,928 |
| SRT | Strata Investment | 0.16 | -18% | 20,000 | $33,037,597 |
| CPH | Creso Pharma Ltd | 0.01 | -17% | 45,057,363 | $26,592,026 |
| REZ | Resourc & En Grp Ltd | 0.011 | -15% | 150,000 | $6,497,475 |
| POL | Polymetals Resources | 0.305 | -15% | 45,776 | $34,985,769 |
| AHN | Athena Resources | 0.003 | -14% | 2,728,428 | $3,746,636 |
| AL8 | Alderan Resource Ltd | 0.006 | -14% | 960,000 | $4,316,863 |
| SI6 | SI6 Metals Limited | 0.006 | -14% | 4,700,285 | $10,467,762 |
| IDA | Indiana Resources | 0.043 | -14% | 123,800 | $25,310,241 |
| DYM | Dynamicmetalslimited | 0.225 | -13% | 321,280 | $9,100,000 |
| 1AE | Auroraenergymetals | 0.078 | -13% | 291,566 | $11,047,876 |
| BXN | Bioxyne Ltd | 0.02 | -13% | 95,000 | $43,737,844 |
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