Stockhead prepares for the ASX open this morning in News Corp's members only lounge. Via Getty
Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, If you’ve not met the The Sprott Physical Uranium Trust – The SPUT – then the time is now, and the pleasure is Reuben’s.
You can wear my tie, I’ll brief you on the way: Sprott set up SPUT a few years back with the sole goal of snapping up yummy yellowcake from off the spot market and sitting on it.
SPUT’s function, literally, is to take deliciously radioactive U3O8 out of market circulation and barely 24 months into its mission SPUT’s done gone sitting on almost 62 million pounds of it.
For the why’s and wherefore’s, you’ll need Reuben.
But before I go, just ask yourself:
What’s Sprott doing with this stuff, if it’s not on-selling it? (and it is not). And why remove and accumulate buckets of energy from a shaken, changing energy market?
Well. This is the door. You can let yourself in, he’s expecting you.
And now for the day ahead.
TRADING HALTS
The following stocks went into trading halts Wednesday and are expected out in the coming days:
Infratil (ASX:IFT) – Capital raising.
ENRG Elements (ASX:EEL) – Capital raising.
Carly Holdings (ASX:CL8) – Capital raising.
Moab Minerals (ASX:MOM) – Halt called ahead of an announcement regarding an investment in an exploration and development company focused on lithium in Ghana, Africa.
Adslot (ASX:ADS) – Capital raising.
Cassius Mining (ASX:CMD) – Capital raising.
Tombador Iron (ASX:TI1) – Halt called ahead of an announcement to the market about a sales agreement.
Elementos Limited (ASX:ELT) – ELT is prepping an announcement about an update of regulatory approvals relating to its Oropesa project in Spain.
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 YESTERDAY?
Reuben Radioactive Rio Adams really did:
• Latin America’s #lithium is the key to hitting global EV targets, experts say
• this means investment inflow into mining friendly countries like Brazil and Argentina
• #ASX Stocks to Watch: $LEL, $PNN, $LKE, $AGY, $GLN, $PL3, $PUR, $LRS, $OCN, $SLM— Stockhead (@StockheadAU) June 6, 2023
Keep up to date with Stockhead coverage or you’ll miss gold like that EVERY DAY. Follow our Twitter page.
For all you crypto lovers Stockhead’s Coinhead Facebook group 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.
WEDNESDAY’S ASX SMALL CAP LEADERS
Here are the best performing ASX small cap stocks on Tuesday:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ALV | Alvomin | 0.405 | 179% | 14,181,692 | $7,834,339 |
| SGC | Sacgasco Ltd | 0.014 | 133% | 43,635,949 | $3,694,343 |
| 1ST | 1St Group Ltd | 0.006 | 50% | 1,424,737 | $5,667,965 |
| CLE | Cyclone Metals | 0.0015 | 50% | 63,151 | $10,264,505 |
| MEB | Medibio Limited | 0.0015 | 50% | 250,024 | $4,314,594 |
| TD1 | Tali Digital Limited | 0.0015 | 50% | 100,000 | $3,295,156 |
| MGA | Metalsgrovemining | 0.145 | 45% | 1,072,442 | $3,625,050 |
| DAL | Dalaroometalsltd | 0.074 | 35% | 2,470,246 | $1,643,125 |
| AHN | Athena Resources | 0.004 | 33% | 5,447,603 | $3,211,403 |
| AJQ | Armour Energy Ltd | 0.004 | 33% | 469,000 | $14,764,026 |
| MCT | Metalicity Limited | 0.002 | 33% | 3,005,213 | $5,604,129 |
| MTL | Mantle Minerals Ltd | 0.002 | 33% | 51,473 | $9,221,169 |
| PUA | Peak Minerals Ltd | 0.004 | 33% | 1,014,000 | $3,124,130 |
| ZLD | Zelira Therapeutics | 2.11 | 30% | 260,225 | $18,382,391 |
| IRX | Inhalerx Limited | 0.05 | 25% | 338,692 | $7,590,678 |
| BFC | Beston Global Ltd | 0.01 | 25% | 1,043,117 | $15,976,375 |
| EMU | EMU NL | 0.0025 | 25% | 703,667 | $2,900,043 |
| NZS | New Zealand Coastal | 0.0025 | 25% | 1,000,000 | $3,308,020 |
| FGL | Frugl Group Limited | 0.011 | 22% | 2,218,656 | $8,604,558 |
| SOV | Sovereign Cloud Hldg | 0.061 | 22% | 477,140 | $8,485,017 |
| ELT | Elementos Limited | 0.17 | 21% | 654,096 | $27,263,612 |
| YBR | Yellow Brick Road | 0.063 | 21% | 6,130 | $16,971,835 |
| RR1 | Reach Resources Ltd | 0.0145 | 21% | 143,764,386 | $33,060,608 |
| HIQ | Hitiq Limited | 0.024 | 20% | 82,604 | $4,950,329 |
| MRD | Mount Ridley Mines | 0.003 | 20% | 430,380 | $19,462,207 |
Wednesday was a HREO/TREO/MREO festival.
Just after 1:00pm on Wednesday, Alvo Minerals (ASX:ALV) revealed a binding agreement for the purchase of the highly prospective Bluebush Rare Earth Element (“REE”) Project in Central Brazil, adjacent to Alvo’s existing Palmeiropolis exploration base.
It’s big news for the company, because early-stage exploration has already been carried out, with results that look like this:
- 6m @ 1,188ppm TREO (37% MREO) auger ERRO273AGR from 1m
- 1m @ 1,355ppm TREO (29% MREO) auger ERRO031AGR from 1m
- 5m @ 1,139ppm TREO (36% MREO) auger ERRO072AGR from 1m
- 13m @ 928ppm TREO (33% MREO) auger ERRO017AGR from 0m
It’s not only TREO rich, but it’s basically just sitting right there on the surface – which is why investors went super-bananas about it and in the space of 3 hours, Alvo’s trading price climbed 180%.
Gas exploration minnow Sacgasco (ASX:SGC), gained a huge 133.33%by midday on receipt of a Letter of Intent from PNOC Exploration Corporation for drilling of the Cadlao 4 well and an Extended Well Test (EWT) as the first stage of redevelopment of the Cadlao Oil Field.
Sacgasco – via its wholly-owned subsidiary, Nido Petroleum Philippines – jumped past the $8 million market cap.
Metalsgrove Mining (ASX:MGA), jumped 40% off the back of news that surface sampling has identified multiple high priority carbonatite and REE bearing drill targets for the upcoming maiden drill program at its rare earths and copper-gold Bruce prospect in the NT.
Metalsgrove is reporting a “high percentage of valuable magnetic and heavy rare earth elements including up to 1,800 ppm TREO, 38% HREO/TREO, 31% MREO/TREO, 23% NdPr/TREO, 23% Y2O3/TREO”, along with a “confirmed” and “significant” copper-gold & base metals anomaly.
WEDNESDAY’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 |
|---|---|---|---|---|---|
| PEB | Pacific Edge | 0.1 | -74% | 2,858,179 | $307,938,783 |
| PYR | Payright Limited | 0.003 | -40% | 1,187,324 | $4,404,426 |
| AVW | Avira Resources Ltd | 0.002 | -33% | 11,881,804 | $6,401,370 |
| CCE | Carnegie Cln Energy | 0.001 | -33% | 2,763,812 | $23,463,861 |
| SIH | Sihayo Gold Limited | 0.0015 | -25% | 105,613 | $12,204,256 |
| FFF | Forbidden Foods | 0.02 | -23% | 2,040,930 | $3,457,494 |
| GNM | Great Northern | 0.002 | -20% | 250,000 | $5,340,784 |
| VAL | Valor Resources Ltd | 0.004 | -20% | 223,140 | $19,015,174 |
| BVR | Bellavistaresources | 0.15 | -19% | 152,737 | $7,024,914 |
| ADD | Adavale Resource Ltd | 0.022 | -19% | 14,400,019 | $14,027,661 |
| E33 | East 33 Limited. | 0.018 | -18% | 177,587 | $11,382,762 |
| NZO | New Zealand Oil&Gas | 0.32 | -18% | 3,736 | $87,340,827 |
| GTG | Genetic Technologies | 0.0025 | -17% | 3,530,360 | $34,624,974 |
| NAE | New Age Exploration | 0.005 | -17% | 12,304,537 | $8,615,393 |
| OAU | Ora Gold Limited | 0.0025 | -17% | 4,507,571 | $11,810,775 |
| TSN | The Sust Nutri Grp | 0.01 | -17% | 878,766 | $1,689,155 |
| CI1 | Credit Intelligence | 0.14 | -15% | 38,125 | $13,777,361 |
| LDX | Lumos Diagnostics | 0.014 | -15% | 645,642 | $4,956,931 |
| MEG | Megado Minerals Ltd | 0.052 | -15% | 1,981,915 | $15,521,789 |
| CBY | Canterbury Resources | 0.03 | -14% | 505,347 | $5,058,324 |
| CTN | Catalina Resources | 0.003 | -14% | 40,000 | $4,334,704 |
| CXU | Cauldron Energy Ltd | 0.006 | -14% | 1,189,197 | $6,520,981 |
| HLX | Helix Resources | 0.006 | -14% | 3,491,676 | $16,262,021 |
| IEC | Intra Energy Corp | 0.006 | -14% | 3,818,680 | $4,940,471 |
| M4M | Macro Metals Limited | 0.003 | -14% | 2,000,000 | $6,954,772 |
