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Good morning everyone, and welcome to 24 June, 2024 – an important day in the history of some truly bizarre goings on.

It was on this day in 1374 that there was an outbreak of a really weird phenomenon, known variously as “St Vitus’ Dance”, “St John’s Dance”, and “Aunty Mabel’s Been Drinking Again, Honestly Just Look At The State Of Her”.

In this particular instance, the outbreak took place in Aachen, Germany, starting with a small but growing number of people who gathered to dance uncontrollably, for days and days until they fell to the ground, exhausted to the point of death in some cases.

One outbreak was particularly deadly – in another German town called Erfurt, it was reported that at least 200 people were out of control dancing on a bridge, which collapsed and tipped them into the river, where they drowned.

The dancing soon spread to other parts of Europe, reaching as far away as The Netherlands and France, before eventually everyone who survived the dancing for no apparent reason re-took control of the body, and sheepishly went home.

No one is quite sure what the cause of the strange epidemic was, with rumours swirling that it was either some kind of biological outbreak of a particularly funky chemical, or if it was simply mass hysteria sweeping the nation.

My own personal theory is that the early 1300s was a time when ABBA’s ridiculously and consistently incredible hit songs were first being tested, over what turned out to be well-founded fears that the songs were just too catchy to be let loose on society as a whole.

So every now and then, a group of people would be subjected to the pop-rock strains of Waterloo, or Dancing Queen… and it took until the 1970s for humanity to finally evolve to the point where the urge to dance until we drop dead had been successfully bred out of all but the dumbest.

Luckily for you, you won’t need to know how to play the flute while standing on one leg in order to get the information you need before the market opens today.

Christian Edwards has toiled for literal hours to bring you an update to the population explosion of stocks on the Indian markets, 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.



Gold: US$2,32.54 (-1.85%)

Silver: US$29.54 (-3.95%)

Nickel (3mth): US$17,224/t (-1.15%)

Copper (3mth): US$9,562/t (-2.63%)

Zinc: US$2,785/t (-1.03%)

Oil (WTI): US$80.60 (-0.78%)

Oil (Brent): US$85.02 (-0.81%)

Iron 62pc Fe: US$106.96/t (-0.18%)

AUD/USD: 0.6644 (-0.26%)

Bitcoin: US$64,356.40 (+0.20%)



If you’ve been in a coma all last week, then you should definitely have a read at our all-singing, all-dancing wrap up of the small caps and IPO market movements for the previous five sessions on the bourse.




Here are the best performing ASX small cap stocks:

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Friday’s Small Cap Winners included:

K2Fly (ASX:K2F), after the asset management consulting services company revealed that it has entered into a Scheme Implementation Deed with Argyle Bidco that will see the latter acquire 100% of K2Fly for $0.19 per share.

The K2Fly board seems very keen that shareholders take up the offer, as it represents a 90% premium on the company’s 20 June 2024 closing price, and will give shareholders “certainty of value and the opportunity to realise their investment in full for cash”.

Alicanto Minerals (ASX:AQI) was up off the back of a management restructure that will see MD Rob Sennitt leave and former Bellevue Gold (ASX:BGL) chair Ray Shorrocks step in as executive chair.

While Susan Field will take on fellow Bellevue alumnus Michael Naylor’s CFO role, the company has pledged that Naylor and Firefly Metals (ASX:FFM) MD Steve Parsons, formerly the MD at ASX 200 listed Bellevue, will be helping to review potential acquisitions that could reinvigorate the explorer.

The success of Bellevue, which recently entered commercial production in WA, means the star power behind its former players still attracts eyeballs and investor interest at the junior end of the market, says resources nut, krypto king and Legend of the Eastern Newsroom, Mr Robert Badman. (After reportedly receiving a a tip-off from Legend of the West, Josh Chiat.)

“Alicanto has thus far been focused on two projects of near Viking antiquity: the Falun copper-gold project and the Sala zinc-silver project. Both projects have a long history of high-grade production but have been the subject of very limited exploration in recent times.”

Alicanto on Friday noted that over their operating lives Falun produced in the order of 28mt at 4% copper, 4g/t gold, 5% zinc, 2% lead and 35g/t silver while Sala produced approximately 200Mozs of silver at an average grade of 1,244g/t.

The lift came despite a $1.6m raising for exploration and working capital purposes conducted at a hefty 31.58% discount to the explorer’s last closing price.

Critical minerals explorer Enova Mining (ASX:ENV) reported impressive assay results from its recent sampling at its Poços rare earth element (REE) project in Brazil.

Highlights include findings of rare earth elements (REE) exceeding 2,000 ppm TREO, with notable results such as 3 meters at 2,744 ppm TREO and 3 meters at 3,030 ppm TREO.

The highest assays reached 5,158 ppm TREO, indicating a potential high-grade REE deposit at Poços. These findings confirm the enriched REE potential in the area, suggesting it could host a substantial REE deposit worthy of further exploration.



Here are the worst performing ASX small cap stocks:

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Pure Hydrogen Corporation (ASX:PH2)pending an announcement by the Company relating to a capital raising.

Terra Metals (ASX:TM1) pending an announcement by the Company relating to a capital raising.