On Stockhead today, Welcome back from the dude’s birthday holiday. What a nice dude.
Uranium equities both in Australia and Canada (with a few exceptions) remain depressed despite uranium’s strong performance this year. Yellowest of cakes continues to move against the trend with the spot price closing last week up almost 3% to US$57.25/lb.
Guy, is on the yellow rocks this week – and there’s undervalued ASX plays ready to go nuclear.
But first, the day ahead.
TRADING HALTS
The following stocks went into trading halts Friday and are expected out in the coming days:
Avenira (ASX:AEV) – Pending announcement on a land access agreement in the Northern Territory
IXUP (ASX:IXU) – Pending update on acquisition of Betstop National Self-Exclusion Register Contract and convertible note capital raising
Navarre Minerals (ASX:NML) – Update on company’s financial arrangements
Alvo Minerals (ASX:ALV) – Capital raise
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1955.25 (-0.25%)
Silver: $US23.970 (-1.12%)
Nickel (3mth): $US24,025/t (+2.02%)
Copper (3mth): $US9002.50/t (+0.27%)
Oil (WTI): $US67.80(-3.41%)
Oil (Brent): $US72.63 (+2.9%)
Iron 62pc Fe: $US106.50/t (+3.9%)
AUD/USD: 0.67470 (+0.13%)
Bitcoin: $US25,842 (-0.71%)
WHAT GOT YOU TALKING OVER THE LONG WEEKEND?
Cheque mate.
The baddest man, in the baddest land.
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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.
FRIDAY’S ASX SMALL CAP LEADERS
Here are the best performing ASX small cap stocks on Friday:
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Volume Market Cap LME Limeade Inc. 0.405 305% 14,816,893 $25,753,771 MQR Marquee Resource Ltd 0.037 68% 50,707,695 $7,198,565 ADS Adslot Ltd. 0.004 33% 131,680 $6,613,045 MCT Metalicity Limited 0.002 33% 1,881,069 $5,604,129 PYR Payright Limited 0.004 33% 2,259,113 $2,642,656 VRX VRX Silica Ltd 0.145 32% 1,770,233 $61,644,333 ADV Ardiden Ltd 0.0075 25% 1,639,952 $16,130,012 GAL Galileo Mining Ltd 0.665 24% 1,067,395 $105,729,336 NET Netlinkz Limited 0.011 22% 4,266,426 $31,439,255 SHG Singular Health 0.055 22% 301,152 $5,451,598 1TT Thrive Tribe Tech 0.039 22% 3,945,547 $7,358,555 EPM Eclipse Metals 0.012 20% 2,680,015 $20,280,598 SMN Structural Monitor. 0.78 19% 238,449 $87,887,655 PL3 Patagonia Lithium 0.2 18% 1,406,585 $8,330,595 AXI Axiom Properties 0.054 17% 67,314 $19,904,828 KED Keypath Education 0.27 17% 19,709 $49,213,359 PRS Prospech Limited 0.049 17% 4,219,420 $9,167,665 FNX Finexia Financialgrp 0.28 17% 15,200 $11,511,739 CHK Cohiba Min Ltd 0.0035 17% 1,010,574 $6,339,733 ICR Intelicare Holdings 0.014 17% 115,715 $2,506,985 LDX Lumos Diagnostics 0.014 17% 1,754,478 $3,713,041 MRQ Mrg Metals Limited 0.0035 17% 170,500 $5,957,756 TEM Tempest Minerals 0.014 17% 2,345,760 $6,081,860 PGM Platina Resources 0.029 16% 599,762 $15,579,508 R8R Regener8 Resources NL 0.19 15% 9,081 $4,233,281
Limeade (ASX:LME) surged more than 300% on nit will be acquired by US-based WebMD Health Services, part of WebMD Health Corp for an all cash deal valuing the employee wellbeing company at ~$112 million.
WebMD will acquire 100% of the shares/CDIs for cash of $0.425 per share/CDI. The offer price represents a 325% premium to the last traded price of Limeade and a 217% premium to the 30-day volume-weighted average price (VWAP) to June 7, 2023.
The offer price implies a fully diluted market capitalisation for Limeade of ~$111.5 million and an enterprise value of ~$112 million.
Marquee Resources (ASX:MQR) up strongly, after announcing it will accelerate the farm-in agreement over the lithium-only rights at MQR’s West Spargoville Project (WSP) with the $13.5 bn capped miner MinRes (ASX:MIN).
WSP is in the Southern Yilgarn of WA, which also hosts the 26Mt Bald Hill mine, MIN’s own 71Mt Mt Marion mine, Liontown Resources’ (ASX:LTR) 15Mt Buldania project and Essential Metals’ (ASX:ESS) 11.2Mt Pioneer Dome project.
As Stockhead’s Reuben Blocker Adams’ reported MIN recently built a blocking stake in ESS to prevent the tiddler from being acquired by IGO (ASX:IGO) and its partner in arms, China’s Tianqi.
Chris Ellison’s firm has now acquired an initial 25% interest in the lithium rights at WSP by funding ~$4.8m on exploration in less than 12 months.
FRIDAY’S ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| AVW | Avira Resources Ltd | 0.002 | -33% | 100,000 | $6,401,370 |
| MEB | Medibio Limited | 0.001 | -33% | 5,805 | $6,471,891 |
| MTL | Mantle Minerals Ltd | 0.001 | -33% | 500,000 | $9,221,169 |
| YPB | YPB Group Ltd | 0.002 | -33% | 721,833 | $1,857,747 |
| C7ADB | Clara Resources | 0.04 | -29% | 1,628,579 | $8,614,734 |
| AMD | Arrow Minerals | 0.003 | -25% | 7,183,369 | $12,095,060 |
| PUA | Peak Minerals Ltd | 0.003 | -25% | 4,557,118 | $4,165,506 |
| CPM | Cooper Metals | 0.165 | -25% | 980,245 | $9,078,443 |
| AM7 | Arcadia Minerals | 0.13 | -24% | 379,327 | $7,938,642 |
| PRMDG | Deferred Settlement | 0.014 | -22% | 327,227 | $2,182,148 |
| CDR | Codrus Minerals Ltd | 0.13 | -21% | 2,497,881 | $6,670,950 |
| EEL | Enrg Elements Ltd | 0.012 | -20% | 9,350,991 | $15,138,514 |
| MIO | Macarthur Minerals | 0.2 | -20% | 267,672 | $41,413,372 |
| RBR | RBR Group Ltd | 0.002 | -20% | 6,543 | $4,046,012 |
| VAL | Valor Resources Ltd | 0.004 | -20% | 1,106,411 | $19,015,174 |
| BEL | Bentley Capital Ltd | 0.045 | -17% | 7,323 | $4,110,908 |
| 1CG | One Click Group Ltd | 0.01 | -17% | 1,567,215 | $7,368,851 |
| GTG | Genetic Technologies | 0.0025 | -17% | 303,217 | $34,624,974 |
| RLC | Reedy Lagoon Corp. | 0.005 | -17% | 1,592,975 | $3,400,318 |
| TG1 | Techgen Metals Ltd | 0.068 | -16% | 490,000 | $5,209,202 |
| FFF | Forbidden Foods | 0.016 | -16% | 703,145 | $2,526,630 |
| MRI | My Rewards International | 0.017 | -15% | 1,968,024 | $5,879,964 |
| HTG | Harvest Tech Group | 0.04 | -15% | 640,181 | $29,695,513 |
| CNQ | Clean Teq Water | 0.265 | -15% | 20,520 | $17,890,192 |
| AL8 | Alderan Resource Ltd | 0.006 | -14% | 35,000 | $4,316,863 |