Good morning everyone, and welcome to 10 May, 2024 – a terrible day on the calendar for combat sports enthusiasts, as it was on this day in 1870 that a boxer with the moral fortitude of a hungry punch-drunk chimp at the tail end of a lazy descent into a vat filled with rum fought the most boring bout ever witnessed.
The arranged fight had been set up between Jem Mace and Joe Coburn – two men who definitely knew their way round the ring, which ultimately saw them fighting for a grand total of 1 hour and 17 minutes.
The truly remarkable thing about the fight was that neither man suffered, not caused, a single punch to land.
The rules of boxing back then were different. Rather than fighting for a set period of time for each round, both fighters would stand in the middle of the ring at a point known as “scratch” and start punching. The round ended when a boxer was knocked down, or knocked out.
The problem arose when it transpired that Coburn only wanted to box against the ropes, but Mace wanted to fight in the middle of the ring – and both men were such stubborn dicks that, for the better part of 90 minutes, they stood a few feet apart and dared each other to throw the first punch.
This, obviously, could have gone on until one of the men died conveniently of old age, however someone in the crowd shouted “police!”, partly in an effort to relieve the boredom and partly because Chief Magistrate William Wilson and Sheriff Edmund Deeds had turned up with about 50 other cops to stop the illegal fight.
The crowd was so bored by this stage, that they stuck around to hear Wilson read off a legal decree about the impending arrest of boxers and spectators alike.
No one was arrested, but one incredibly skilled thief managed to pick Wilson’s pocket, making off with $115 worth of watch and chain.
Luckily for you, you won’t need to ask me to punch this morning’s important info into you – as our incredible writers have worked hard to bring you all the guff you need to get Friday off to a cracking start.
Plus, because no one thought to make sure I was just sleeping, and not dead in front of my computer, I’ve slaved away all afternoon to bring you all the data and digits and highlights listed below to help prep you for the day ahead.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,311.20 (-0.01%)
Silver: US$27.54 (+0.67%)
Nickel (3mth): US$18,695.00/t (+0.52%)
Copper (3mth): US$9,787.53/t (+0.49%)
Oil (WTI): US$79.52 (+0.59%)
Oil (Brent): US$84.08 (+0.61%)
Iron 62pc Fe: US$116.59/t (+1.26%)
AUD/USD: 0.6572 (-0.05%)
Bitcoin: US$61,303.40 (+0.21%)
WHAT GOT YOU TALKING
This is the best Resources Wrap I’ve read in a while, mostly because it’s got a picture of my old mate Albo pointing at a massive lump of radioactively stupid gristle.
YESTERDAY’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 | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| AXN | Alliance Nickel Ltd | 0.078 | 123% | 30,811,950 | $25,404,387 |
| ERW | Errawarra Resources | 0.060 | 54% | 1,435,816 | $3,740,906 |
| AIV | Activex Limited | 0.006 | 50% | 538,354 | $862,010 |
| CNJ | Conico Ltd | 0.002 | 50% | 1,000,687 | $1,805,095 |
| RMX | Red Mount Min Ltd | 0.002 | 50% | 500,000 | $2,673,576 |
| CRS | Caprice Resources | 0.029 | 45% | 21,239,349 | $4,468,406 |
| HOR | Horseshoe Metals Ltd | 0.013 | 44% | 2,614,524 | $5,830,008 |
| IRI | Integrated Research | 0.570 | 43% | 2,634,536 | $69,843,452 |
| ERL | Empire Resources | 0.004 | 33% | 5,035,617 | $3,338,805 |
| HYT | Hyterra Ltd | 0.026 | 30% | 6,069,281 | $14,387,248 |
| HTA | Hutchison | 0.038 | 29% | 104,657 | $393,602,749 |
| SGC | Sacgasco Ltd | 0.009 | 29% | 3,040,886 | $5,457,810 |
| PEC | Perpetual Res Ltd | 0.014 | 27% | 13,622,048 | $7,040,324 |
| MCT | Metalicity Limited | 0.003 | 25% | 4,000,000 | $8,970,190 |
| MTL | Mantle Minerals Ltd | 0.003 | 25% | 11,698,222 | $12,394,892 |
| CDT | Castle Minerals | 0.006 | 20% | 171,322 | $6,122,465 |
| HTG | Harvest Tech Grp Ltd | 0.024 | 20% | 92,500 | $16,237,157 |
| IVX | Invion Ltd | 0.006 | 20% | 2,654,000 | $32,122,661 |
| ME1 | Melodiol Glb Health | 0.003 | 20% | 2,915,005 | $1,783,718 |
| RML | Resolution Minerals | 0.003 | 20% | 50,000 | $4,025,055 |
| VRC | Volt Resources Ltd | 0.006 | 20% | 1,571,971 | $20,793,391 |
| CMO | Cosmometalslimited | 0.049 | 20% | 1,348,950 | $5,182,172 |
| ANR | Anatara Ls Ltd | 0.043 | 19% | 91,453 | $6,881,174 |
| PLN | Pioneer Lithium | 0.130 | 18% | 31,728 | $3,126,750 |
| EQN | Equinoxresources | 0.230 | 18% | 181,073 | $19,729,126 |
Yesterday’s Small Cap Winners included:
Way out in front on Thursday was Alliance Nickel (ASX:AXN), soaring deep into triple digit growth on news that the Australian Federal Government has granted its 100% owned NiWest nickel cobalt project “Major Project Status”. As such, the company will get additional support in navigating and coordinating complex Federal and State regulatory approvals for a period of three years, which is nice. The news comes as nickel prices continue to fluctuate broadly, with prices briefly flirting with US$20,000/tonne towards the end of last month.
Caprice Resources (ASX:CRS) was up this morning on news that it has signed a binding option agreement to acquire 90% of the Bantam project, consisting of four tenements (one granted, three applications) in the West Arunta region of Western Australia.
Caprice said it’s planning on hunting for niobium, rare earths and IOCG mineral deposits, with the site immediately adjacent to WA1 Resources’ (ASX:WA1) West Arunta project and it’s world-class Luni niobium-REE discovery.
Errawarra Resources (ASX:ERW) was surging rapidly this morning, up more than +50% on no news, but it looks like the ASX has yanked on the handbrake and trading in ERW was suspended shortly after midday. Check Closing Bell this arvo for an explanation, as there’s nothing more about it from the announcements list as yet.
Respiratory imaging technology company, 4DMedical (ASX:4DX), announced that its CT LVAS technology has been incorporated into existing Category III Current Procedural Terminology (CPT) codes. From today, CT LVAS scans conducted in a US hospital outpatient facility for Medicare beneficiaries may be billed to Centers for Medicare & Medicaid Services (CMS) with a reimbursement of US$650.50.
Lithium/critical minerals hunter, Perpetual Resources (ASX:PEC)’s main hunting ground is the booming, spodumene-tastic ‘Lithium Valley’ of Minas Gerais in Brazil, where it has secured some 12,000 hectares of highly prospective lithium exploration permits. Its stocks rallied today on news that a very healthy tax rebate from the Australian Government Department of Industry, Science and Resources, granting it an AusIndustry R&D tax incentive of $161,473.
Gold hunter First Au’s (ASX:FAU) says its new exploration lease EL008058 in Victoria includes the historical King Cassilis mine which, according to records, produced over 3,000 ounces of gold at a grade of 14.4g/t.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are the worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| WOA | Wide Open Agricultur | 0.032 | -61% | 7,645,706 | $14,858,944 |
| AXP | AXP Energy Ltd | 0.001 | -50% | 1,952,233 | $11,649,361 |
| MRD | Mount Ridley Mines | 0.001 | -50% | 2,234,873 | $15,569,766 |
| SIT | Site Group Int Ltd | 0.002 | -33% | 20,754,473 | $7,807,471 |
| OSX | Osteopore Limited | 0.085 | -32% | 8,667,224 | $13,619,354 |
| SKN | Skin Elements Ltd | 0.003 | -25% | 46,423 | $2,357,944 |
| TMX | Terrain Minerals | 0.003 | -25% | 3,074,183 | $5,726,683 |
| BMO | Bastion Minerals | 0.007 | -22% | 1,377,111 | $3,875,255 |
| BBN | Baby Bunting Grp Ltd | 1.485 | -22% | 2,664,199 | $256,322,329 |
| MPP | Metro Perf.Glass Ltd | 0.070 | -20% | 201,856 | $16,313,272 |
| BLZ | Blaze Minerals Ltd | 0.004 | -20% | 520,470 | $3,142,791 |
| ECT | Env Clean Tech Ltd. | 0.004 | -20% | 44,127 | $15,859,052 |
| EXL | Elixinol Wellness | 0.004 | -20% | 208,001 | $6,505,370 |
| MOH | Moho Resources | 0.004 | -20% | 35,000 | $2,695,891 |
| ROG | Red Sky Energy. | 0.004 | -20% | 13,635,605 | $27,111,136 |
| TIG | Tigers Realm Coal | 0.004 | -20% | 258,201 | $65,333,512 |
| LU7 | Lithium Universe Ltd | 0.022 | -19% | 8,593,387 | $11,115,816 |
| TZL | TZ Limited | 0.018 | -18% | 535,713 | $5,644,829 |
| PAA | Pharmaust Limited | 0.180 | -18% | 5,695,391 | $86,903,007 |
| AGI | Ainsworth Game Tech. | 0.955 | -18% | 219,685 | $392,364,927 |
| TRJ | Trajan Group Holding | 0.748 | -17% | 1,133,634 | $137,755,557 |
| GLL | Galilee Energy Ltd | 0.039 | -17% | 161,000 | $15,967,998 |
| EEL | Enrg Elements Ltd | 0.005 | -17% | 960,000 | $6,059,790 |
| POS | Poseidon Nick Ltd | 0.005 | -17% | 32,173,481 | $22,281,209 |
| PRX | Prodigy Gold NL | 0.003 | -17% | 901,333 | $6,041,322 |
TRADING HALTS
Errawarra Resources (ASX:ERW) – pending release of exploration updates and as response to an ASX price query.
Iceni Gold (ASX:ICL) – for the purposes of considering, planning and executing a capital raising.
Jayex Technology (ASX:JTL) – pending an announcement concerning an application to be removed from the official list
Riversgold (ASX:RGL) – pending an announcement regarding a capital raising.
Thor Energy (ASX:THR) – pending an announcement to the market in relation to a capital raising.
Byron Energy (ASX:BYE) – pending an announcement concerning an application to be removed from the official list.