On Stockhead today, Wilsons Advisory believes lithium is still misunderstood, mis-priced, under-owned, undervalued and absolutely a smart play in a long game.

Nadine speaks with Wilsons Advisory’s Main Man in the Mines, Sam Catalano for his close-up on why lithium still has legs and which are the best three pins to purchase in a packed ASX lithium league.

But first, the day ahead.

 

TRADING HALTS

The following stocks went into trading halts Wednesday and are expected out in the coming days:

Kingsland Minerals (ASX:KNG) – Capital raising.

Lithium Energy (ASX:LEL) – Capital raising.

Ragnar Metals (ASX:RAG) – Significant divestment annnnnd… capital raising.

Strike Resources (ASX:SRK) – On hold ahead of a potential sell-down of a minor portion of its 34.41 million shareholding in Lithium Energy (ASX:LEL).

Scorpion Minerals (ASX:SCN) – Speeding ticket, and on hold ahead of assay results from its Youanmi lithium project in WA.

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: $US1957.15 (+0.75%)

Silver: $US23.87 (-0.2%)

Nickel (3mth): $US24,025/t (+2.02%)

Copper (3mth): $US9002.50/t (+0.27%)

Oil (WTI): $US70.66 (+3.5%)

Oil (Brent): $US75.53 (+3.2%)

Iron 62pc Fe: $US114.50/t (+0.44%)

AUD/USD: 0.6887  (+1.36%)

Bitcoin: $US25,380 (-1.53%)

 

WHAT GOT YOU TALKING?

MTM has all the critical minerals an Albo might need.

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:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume Market Cap
OPN Oppenneg 0.016 167% 1,060,555 $1,455,180
WFL Wellfully Limited 0.0045 50% 3,768,849 $1,478,832
AYM Australia United Min 0.003 50% 818,626 $3,685,155
BP8 Bph Global Ltd 0.003 50% 116,665 $2,569,460
MTH Mithril Resources 0.0015 50% 4,317,388 $3,368,804
IR1 Irismetals 1.53 32% 1,230,962 $92,486,800
BUB Bubs Aust Ltd 0.1875 29% 9,817,627 $108,946,824
IGN Ignite Ltd 0.054 29% 146,710 $3,762,451
AW1 Americanwestmetals 0.115 26% 12,299,183 $24,220,707
IBX Imagion Biosys Ltd 0.015 25% 24,171,712 $14,011,989
DES Desoto Resources 0.125 25% 100,000 $5,992,650
DCX Discovex Res Ltd 0.0025 25% 350,000 $6,605,136
PUA Peak Minerals Ltd 0.0025 25% 890,000 $2,082,753
BLZ Blaze Minerals Ltd 0.026 24% 9,712,532 $9,607,673
FTC Fintech Chain Ltd 0.016 23% 26,418 $8,460,005
AZS Azure Minerals 1.265 23% 10,470,163 $401,943,154
KGL KGL Resources Ltd 0.14 22% 442,069 $65,238,564
RCW Rightcrowd 0.018 20% 230,366 $3,947,877
GTG Genetic Technologies 0.003 20% 44,328 $28,854,145
LVT Livetiles Limited 0.012 20% 1,156,435 $10,471,657
RDN Raiden Resources Ltd 0.006 20% 621,304 $10,276,345
RGS Regeneus Ltd 0.006 20% 1,571,666 $1,532,185
SI6 SI6 Metals Limited 0.006 20% 2,263,644 $7,476,973
PFE Panteraminerals 0.095 19% 193,219 $4,120,090
W2V Way2Vatltd 0.013 18% 10,000 $5,015,295
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Nominally at the top of the list of winners is Openn Negotiation (ASX:OPN), which is showing a 166.66% gain for no apparent reason, on little to no volume.

The company has been struggling on market of late, and was held in suspension while Axiom Properties (ASX:AXI) came in to sift through the business and have a crack at recapitalising it at the end of May.

By the looks of things, OPN came back online a few days ago, and sank like a stone, but it’s showing a huge jump today so I thought I’d better let you know.

Also enjoying a Welcome Back party was Wednesday’s lunchtime leader Iris Metals (ASX:IR1), which has been MIA from the ASX since December, but suddenly emerged from the murk and relisted today.

After falling foul of a few bits of Chapters 1 and 2 of the ASX Listing Rules, and as part of its re-compliance requirements, the company says it has successfully completed the $15 million cap raise required to get back in the good books and start being traded again.

Investors were well on board with Iris returning to the fold, pushing it 45% higher by lunchtime, which has settled back to a +33.6% gain for the day.

Some great news for Imagion Biosystems Limited (ASX:IBX) with brand new CEO Isaac Bright at the helm, and an announcement that the company’s MagSense HER2 imaging agent Phase 1 study (IBI10103) has achieved its enrolment target, and is set to get rolling.

IBX says the new agent works through showing a change in image contrast in nodes highly suspicious for breast cancer tumours. It shows up as “distinctly different from the contrast seen in non-involved nodes” when used with Magnetic Resonance Imaging (MRI) and Magnetic Relaxometry (MRX), for women who have HER2-positive (HER2+) primary breast cancer.

IBX gained 29% for the day, just edging out American West Metals (ASX:AW1), on 29.12% with the latter riding high on last week’s news that a high-resolution ground gravity survey at the company’s Storm prospect has identified significant new anomalies that support the potential for a large-scale sediment-hosted copper system.

 

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 % Today Volume Market Cap
NRX Noronex Limited 0.017 -26% 347,561 $5,806,154
ILA Island Pharma 0.097 -25% 20,013 $10,564,901
AFW Applyflow Limited 0.012 -25% 506,721 $2,366,090
TYM Tymlez Group 0.003 -25% 950,000 $4,368,781
OLI Oliver'S Real Food 0.015 -25% 1,028,000 $8,814,638
M2R Miramar 0.038 -24% 855,006 $4,019,087
OLH Oldfields Holdings 0.055 -21% 186,000 $13,982,916
LSR Lodestar Minerals 0.004 -20% 520,164 $9,216,987
RBR RBR Group Ltd 0.002 -20% 4,275,000 $4,046,012
ROO Roots Sustainable 0.004 -20% 254,712 $693,611
THR Thor Energy PLC 0.004 -20% 2,025,000 $7,300,064
ENV Enova Mining Limited 0.009 -18% 588,000 $4,300,223
TZL TZ Limited 0.023 -18% 621,650 $7,075,827
LRL Labyrinth Resources 0.01 -17% 1,870,182 $11,513,848
MXC Mgc Pharmaceuticals 0.005 -17% 320,293 $20,098,158
TIG Tigers Realm Coal 0.005 -17% 2,129,320 $78,400,214
MDI Middle Island Res 0.021 -16% 2,918,578 $3,060,456
XAM Xanadu Mines Ltd 0.097 -16% 19,736,280 $188,349,782
CAZ Cazaly Resources 0.039 -15% 2,118,668 $17,103,802
AJL AJ Lucas Group 0.012 -14% 529,885 $19,260,215
AJQ Armour Energy Ltd 0.003 -14% 213,000 $17,224,697
AVM Advance Metals Ltd 0.006 -14% 897,448 $4,119,911
PRX Prodigy Gold NL 0.006 -14% 401,984 $12,257,755
YPB YPB Group Ltd 0.003 -14% 10,757,962 $2,167,371
TTT Titomic Limited 0.043 -14% 942,121 $11,949,498
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