On Stockhead today, Canuck M&A goes straight to the top, ASX caps with the highest profit margins, and a fireside chat with Mali gold monster Toubani.

But first, to the day ahead.


These companies went  into trading halts on Monday and are due out in the coming days:

Patriot Battery Metals (ASX:PMT) – Results from the winter 2023 drilling program at the Corvette Property, and a response to an AFR article from 09 July, and a response to an activist short-selling report.

HeraMED (ASX:HMD) – Capital raising.

Lindian Resources (ASX:LIN) – Capital raising.

Tivan (ASX:TVN) – Capital raising.

AuKing Mining (ASX:AKN) – Halted on request for more information from this morning’s announcement entitled “Promising initial XRF analysis from Itigi Uranium Project drilling”.

PharmAust (ASX:PAA) – Announcement of urinary biomarker results from its Motor Neurone Disease Phase 1/2 Clinical Trial.

Summit Minerals (ASX:SUM) – Project acquisition and a capital raising.

IRIS Metals (ASX:IR1) – Update on exploration results in respect of its Beecher Project.



Gold: $US1925.25 (+1.01%)

Silver: $US23.12 (+0.31%)

Nickel (3mth): $US21,160/t (-0.22%)

Copper (3mth): $US8,277/t (-0.50%)

Oil (WTI): $US73.15 (-0.96%)

Oil (Brent): $US77.79 (-0.87%)

Iron 62pc Fe: $US109.21/t (-1.2%)

AUD/USD: 0.6626  (+0.0%)

Bitcoin: $US30,282.63 (+0.60%)




Here are the best performing ASX small cap stocks:

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The clear standout Small Caps winner was Heavy Minerals (ASX:HVY), which jumped 200% at the open on news of an updated JORC Mineral Resource from its Port Gregory garnet project.

Heavy Minerals is reporting that it’s sitting on 5.9Mt of contained garnet, with 5.4Mt of that in the Measured and Indicated JORC category, a 23% increase on previously released figures.

Heavy Minerals says that’s enough garnet to feed the planet’s current requirements for about five years.

Up 90%.

Australasian Metals (ASX:A8G) climbed into second place, on news of high grade titanium in rock chip samples from the company’s May Queen South bauxite project in central Queensland.

A8G is reporting that the  geological fertility of the project for bauxite and titanium was confirmed by the identification of several high grade surface samples with TiO2 of between 3.36 % to 17.55%.

Investors seemed to like that news, and it’s trading 42.8% higher as a result.

And in third place,  Alexium International (ASX:AJX), up 38.5% today after dropping a quarterly results announcement showing that sales for the quarter at US$2.0m were up US$0.2m versus prior quarter ending the year at US$7.2m, despite the continuance of soft market conditions.

The company also says that cash receipts for the period were US$1.9m with revenue of US$1.8m, down US$0.1m from the previous quarter.



Here are the least best performing ASX small cap stocks:

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