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Good morning everyone, and welcome to 14 June, 2024 – an important day in the history of the world for a variety of amazingly boring reasons.

On this day in 1325, early travel writing pioneer Ibn Battuta left his home in Tangiers for “a quick trip to Mecca”, which lasted 24 gruelling years.

On this day in 1565, Catharina de Medici and the Duke of Alva met to discuss Calvinism, a truly depressing doctrine that says that there’s a finite number of spots in heaven, those spots are predetermined by God, and there’s nothing anyone can do about it – which is probably how Catharina de Medici, then the Queen Mother of France, was cool about the murder of thousands of people in the St Bartholomew’s Massacre seven years later.

And on this day in 1634, Russia and Poland signed the Peace Treaty of Polianov. It didn’t end well.

Luckily for you, you won’t need to put thousands of people to the sword in order to get what you need before the market opens today.

Eddy Sunarto’s braved the wild, wild lands of the Hippies to bring you all the cannabis and MDMA news you can handle, and – as always – I’ve thrown together lots of fiddly little things below, so you don’t need to go ferreting all over the internet for your ASX info this morning.

 

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$2,311.38 (-0.50%)

Silver: US$29.17 (-1.85%)

Nickel (3mth): US$17,809/t (+1.39%)

Copper (3mth): US$9,697/t (+1.36%)

Zinc: US$2,841/t (+4.87%)

Oil (WTI): US$78.29 (-0.03%)

Oil (Brent): US$82.36 (-0.19%)

Iron 62pc Fe: US$106.42/t (+0.14%)

AUD/USD: 0.6647 (-0.22%)

Bitcoin: US$67,490.30 (-1.12%)

 

WHAT GOT YOU TALKING

Here’s everything you wanted to know about the ACCC stepping into the middle of the big Chemist Warehouse merger with Sigma, but were too afraid to ask your pharmacist, in case someone else in the shop heard you.

 

 

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:

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MRG Metals (ASX:MRQ) had a solid burst after it signed a binding joint venture agreement with Sinowin Lithium subsidiaries, including Sinowin Lithium Cobalt, to develop its Mozambique Corridor Sands projects and its other Mozambique Heavy Mineral Sands projects. Under the terms, MRG Metals is to be free carried, including all capital expenditure and operating expenditure, through to 440,000 tonnes of annual concentrate production.

Pacific Nickel Mines (ASX:PNM) made a strong charge up after the company announced a significant production milestone at Kolosori, with two nickel ore shipments now achieved monthly. It also has plans to ramp that up further soon in the dry season, to what it deems full production of 1.5mtpa, which would be the equivalent of three ore shipments monthly.

Bubs Australia (ASX:BUB) rose after releasing a trading update to crow about improved sales data from the US, where weekly scan revenue now exceeds US$1m per week with over 24,000 tins sold, up from the Q3 average weekly scan revenue US$750k, and the company’s current position as the #1 best-selling infant formula product on Amazon USA in May 2024.

Tesoro Gold (ASX:TSO) rose after returning grades up to 173g/t gold in first pass drilling at the Drone target, 700m from its 1.3Moz Ternera deposit in Chile. Drone Hill is one of four high–priority drill targets located within a 1.5 km radius of Ternera, and the new find is considered shallow and “very high grade”, comprising the following highlights:

  • 1.8m at 77.15g/t Au from 59.2m, including: 0.8m at 173.00g/t Au from 59.2m
  • 3m at 2.48g/t Au from 111.0m including 1.0m at 7.06g/t Au from 111.0m.

Castle Minerals (ASX:CDT) rose on Tuesday’s news where it announced that it was gearing up for a major gold hunt at its Kpali gold project in the West African Republic of Ghana. Eearlier this week, the company revealed plans for a 3500m drilling operation to test for extensions of mineralisation defined from a series of high-grade past intercepts.

Firebrick Pharma (ASX:FRE) jumped by almost 20% this morning after announcing the availability of its product, Nasodine Nasal Spray, for sale in Singapore.

In Singapore, Nasodine is classified as a topical antiseptic and does not require approval or licensing by Singapore’s Health Sciences Authority (HSA) before being sold.

Doctor Care Anywhere (ASX:DOC) also lifted after announcing an upgrade to its revenue growth guidance for the first half of 2024 compared to the same period last year.

The revised guidance now anticipates a growth range of 10-15%, up from the previously forecasted 5-10%. This adjustment reflects robust consultation volumes observed during the period.

And Pioneer Lithium (ASX: PLN) has begun summer field work at the Root Lake Lithium Project in Ontario, Canada. The company’s geological team is conducting targeted mechanical stripping and trenching to uncover rock outcrops at three promising locations on the property. This effort aims to gather vital geological data to plan their upcoming maiden drill program. Pioneer will focus on expanding known lithium-rich pegmatite fields near the property borders, including potential extensions of significant resources at Consolidated McCombe and Root Bay pegmatite fields.

 

YESTERDAY’S ASX SMALL CAP LAGGARDS

Here are the worst performing ASX small cap stocks:

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TRADING HALTS 

Calima Energy (ASX:CE1) – pending an announcement in reply to an ASX price query.

National Storage REIT (ASX:NSR) – pending an announcement in relation to a proposed joint venture to establish a fund that will pursue the development and operation of storage centres across Australia.

Vinyl Group (ASX:VNL) – to finalise and execute a pro rata accelerated non-renounceable entitlement offer.

Booktopia Group (ASX:BKG) – pending a material announcement in relation to further outcomes from the strategic review.

Anax Metals (ASX:ANX) – pending an announcement in respect of a capital raising.

BMG Resources (ASX:BMG) –  pending an announcement regarding a capital raising.

Winsome Resources (ASX:WR1) –  pending release of details of a flow through capital raising.

Prospech (ASX:PRS) – pending an announcement regarding a material capital raising.

Trigg Mining (ASX:TMG) – pending an announcement regarding a proposed acquisition.

Telix Pharmaceuticals (ASX:TLX) – pending an announcement in relation to the completion of the pricing and allocation processes for Telix’s proposed United States (US) initial public offering.

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