Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, Our Cameron Drummond says Aussie copper diggers are digging up all sorts of grades without a care in the world – because the ol’ fools gold, is about to change the world, again and low-grade copper has a part to play
Right now there’s just not enough of it and it still does everything, like being fed into the current ‘green revolution.’
But first, the day ahead.
The following stocks went into trading halts Tuesday and are expected out in the coming days:
EBOS Group (ASX:EBO) – Regarding its Australian Chemist Warehouse contract.
TechGen Metals (ASX:TG1) – Capital raising.
Terragen (ASX:TGH) – Capital raising.
Redflow (ASX:RFX) – Capital raising.
Odessa Minerals (ASX:ODE) – Capital raising.
Solis Minerals (ASX:SLM) – Capital raising.
Pacific Edge (ASX:PEB) – US Medicare is set to cease funding for the company’s cancer diagnosis product Cxbladder. Again, see above for all the deets.
Polynovo (ASX:PNV) – PNV has audiences on the edge of their seats, as the company hits ‘pause’ so it can finalise an announcement on revenue performance. Will Marion’s wedding to Julio go ahead? Or will Andre wake up from his coma in time to stop it from happening? And just what is up with Sandra’s “new look” this week? You’ll have to wait until the next exciting episode of Polynovo (Streaming now on the ASX).
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%)
Oh, we’re in Canada. It’s the new WA.
Klaus Eckhof – the man who spearheaded $AVZ Minerals’ Manono #lithium project acquisition in 2017 — is acquiring ground next door via his new company, @AJN_Resources #CSE #TSX #TSXV $TECK $IVN $CCOhttps://t.co/fSyV2VFDdJ
— Stockhead (@StockheadAU) June 5, 2023
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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.
Here are the best performing ASX small cap stocks on Tuesday:
Swipe or scroll to reveal full table. Click headings to sort:
|ADD||Adavale Resource Ltd||0.027||69%||76,335,360||$8,312,688|
|CCE||Carnegie Cln Energy||0.0015||50%||1,072,373||$15,642,574|
|DCX||Discovex Res Ltd||0.003||50%||512,046||$6,605,136|
|BLZ||Blaze Minerals Ltd||0.023||28%||24,892,437||$8,235,148|
|AVE||Avecho Biotech Ltd||0.006||20%||1,706,647||$10,810,796|
|ICN||Icon Energy Limited||0.006||20%||500,000||$3,840,068|
|SIG||Sigma Health Ltd||0.755||19%||22,950,690||$672,640,524|
|PEC||Perpetual Res Ltd||0.013||18%||87,181||$6,000,324|
|JGH||Jade Gas Holdings||0.047||18%||511,933||$40,216,168|
|ADX||ADX Energy Ltd||0.007||17%||19,845,641||$21,322,772|
|CXU||Cauldron Energy Ltd||0.007||17%||652,251||$5,589,412|
|XTC||Xantippe Res Ltd||0.0035||17%||159,389,127||$34,440,299|
|GAS||State GAS Limited||0.195||15%||73,059||$38,221,492|
|GMN||Gold Mountain Ltd||0.004||14%||1,076,062||$6,894,764|
|VAL||Valor Resources Ltd||0.004||14%||9,834,865||$13,310,622|
Tuesday’s Small Caps winner was undoubtedly Adavale Resources (ASX:ADD), which made a wholesome +100% gain in morning trade on news of nickel-bearing massive sulphides at the Luhuma Central prospect within its Kabanga Jirani nickel project in Tanzania.
That all took place thanks to Adavale hitting an intersection of massive sulphides over 4.15m from a down-hole depth of 223.35m, further evidence that the company’s exploration program is on the right track.
That’s a major positive given the Kabanga Jirani project’s location right next to Lifezone and BHP’s development Kabanga project, which has a resource of 58Mt at 2.62% nickel.
The company says that visual observation of between 1% and 5% pentlandite – an iron-nickel sulphide – appears to align well with portable XRF readings that indicate a nickel grade of between 1.2% and 2.3% nickel, though the latter is no replacement for laboratory assays.
Given the RBA rate pullback at 2:30pm, ADD’s trading price eased off, ending the session up almost 70%.
Next best for the day was Blaze Minerals (ASX:BLZ), which is up another 28%, still running on news from late May that it had entered an agreement to buy 340sqkm at the greenfields North Spirit lithium project in Ontario, near Patriot Lithium’s (ASX:PAT) tenements.
The acquisition is set to cost BLZ an initial $100,000 cash and $550,000 worth of shares (55m shares at 1c). The company will then pay an additional $2.65m cash and $5.95m shares in staged payments right up to the release of a mining feasibility study.
A late charge by Macarthur Minerals (ASX:MIO) saw it clamber into third place on the ladder, up 27.6% on no fresh news, so it’s probably been the beneficiary of a little bit of Nickelmania blowback from Adavale’s barnstormer.
Here are the least best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
|TD1||Tali Digital Limited||0.001||-50%||197,997||$6,590,311|
|SOV||Sovereign Cloud Hldg||0.05||-29%||1,334||$11,879,363|
|CYQ||Cycliq Group Ltd||0.006||-25%||15,000||$2,780,133|
|BCB||Bowen Coal Limited||0.17||-23%||17,756,996||$405,211,005|
|YBR||Yellow Brick Road||0.055||-21%||40,132||$22,846,702|
|1ST||1St Group Ltd||0.004||-20%||2,415,730||$7,084,956|
|BFC||Beston Global Ltd||0.008||-20%||2,128,623||$19,970,469|
|NZS||New Zealand Coastal||0.002||-20%||1,505,403||$4,135,025|
|ZER||Zeta Resources Ltd||0.285||-20%||4,000||$200,051,111|
|REZ||Resourc & En Grp Ltd||0.027||-18%||35,223,436||$16,493,591|
|EEL||Enrg Elements Ltd||0.015||-17%||413,300||$18,166,216|
|MRD||Mount Ridley Mines||0.0025||-17%||2,274,062||$23,354,649|
|BBN||Baby Bunting Grp Ltd||1.49||-16%||4,321,192||$240,133,550|
|AL8||Alderan Resource Ltd||0.006||-14%||652,300||$4,316,863|