Good morning everyone, and welcome to 24 January, 2024 – a date on the calendar that strikes fear into the hearts of old ladies who never wanted to cross the road but were forced across anyway… as it was on this day in 1908 that Lord Robert Baden-Powell published a book called “Scouting for Boys”, and launched a worldwide movement that has been both a blessing and curse in some respects.
It was a blessing for generations of young lads who needed a bit of structure and guidance in their lives, or perhaps just a bit of a push to get out and about into nature, learn (allegedly) important skills such as how to tie knots, how to start bushfires and how to scald both hands equally while trying to make tea in a small metal bucket.
But, it turns out that there were more than a few bad apples who took the title of Baden-Powell’s seminal tome to be something of an instruction in and of itself, joining the movement as responsible adults who were firmly intent on actually scouting for boys.
While nowhere near as popular as it was when I was a lad, I am reliably informed that Scouting is still very much A Thing, albeit one that has had to undergo some massive changes to the way it’s all structured.
Still, I owe the Scout movement more than a small debt of gratitude – the weekends away from parental supervision where I learnt to smoke cigarettes and enjoy the assorted flavours of hastily purloined alcohol are fond memories I will cherish forever.
Speaking of which, let’s all hope together that today is a day where some fond memories will be made among us here, as we Do Our Best to make some sense of what’s happening on the market, and maybe pocket a bit of coin along the way.
To help you get your affairs in order, Reuben’s dug deep to remind us all of those wild ’90s days (read “scams”), while Earlybird Eddy’s frantically waving the bong smoke out the window and spraying something pot pourri-scented because his mum’s at the door asking for all the cannabis stock news the week has to offer.
Plus, down below, there’s all the usual numbers and letters, all lovingly arranged in such a fashion that they make sense to our weird, wet and wrinkly brains – because nothing quite says “sentient life” than 1.4kg of meat that runs on electricity.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,013.53 (-0.75%)
Silver: US$22.67 (+1.04%)
Nickel (3mth): US$16,306/t (+1.87%)
Copper (3mth): US$8,405/t (+0.71%)
Oil (WTI): US$75.22(+1.14%)
Oil (Brent): US$80.15 (+0.76%)
Iron 62pc Fe: US$135.49/t (+0.01%)
AUD/USD: 0.6581 (-0.05%)
Bitcoin: US$39,836 (+0.91%)
WHAT GOT YOU TALKING
Battery metals are taking a battering at the moment – here’s a look at just how bad the bleeding is this week.
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 | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| YPB | YPB Group Ltd | 0.002 | 100% | 3,040,000 | $790,461 |
| RMX | Red Mount Min Ltd | 0.003 | 50% | 1,772,288 | $5,347,152 |
| TMR | Tempus Resources Ltd | 0.007 | 40% | 7,425,892 | $3,451,450 |
| NPR | Newmark Property | 1.325 | 37% | 2,801,075 | $176,198,848 |
| TFL | Tasfoods Ltd | 0.03 | 36% | 27,892 | $9,616,101 |
| FG1 | Flynngold | 0.071 | 34% | 4,169,335 | $7,723,385 |
| EDE | Eden Inv Ltd | 0.002 | 33% | 16,053,907 | $5,517,407 |
| SRN | Surefire Rescs NL | 0.012 | 33% | 31,501,138 | $17,668,420 |
| HTG | Harvest Tech Grp Ltd | 0.017 | 31% | 707,748 | $9,177,523 |
| HT8 | Harris Technology Gl | 0.013 | 30% | 408,251 | $2,991,355 |
| IPB | IPB Petroleum Ltd | 0.014 | 27% | 3,972,874 | $6,216,347 |
| CPO | Culpeominerals | 0.048 | 26% | 4,222,129 | $5,160,048 |
| AL8 | Alderan Resource Ltd | 0.005 | 25% | 13,296,334 | $4,427,445 |
| CTO | Citigold Corp Ltd | 0.005 | 25% | 237,530 | $12,000,000 |
| NAE | New Age Exploration | 0.005 | 25% | 1,481,689 | $7,175,596 |
| AUZ | Australian Mines Ltd | 0.011 | 22% | 40,414,524 | $8,505,444 |
| HXG | Hexagon Energy | 0.012 | 20% | 2,020,540 | $5,129,159 |
| IBG | Ironbark Zinc Ltd | 0.006 | 20% | 1,233,333 | $7,969,363 |
| SIT | Site Group Int Ltd | 0.003 | 20% | 5,035,914 | $6,506,226 |
| XRG | Xreality Group Ltd | 0.031 | 19% | 93,592 | $13,884,822 |
| TG1 | Techgen Metals Ltd | 0.056 | 19% | 298,111 | $4,517,550 |
| APX | Appen Limited | 0.335 | 18% | 8,908,062 | $62,483,933 |
| DEL | Delorean Corporation | 0.035 | 17% | 196,122 | $6,471,627 |
| KFM | Kingfisher Mining | 0.14 | 17% | 86,983 | $6,445,800 |
| CDT | Castle Minerals | 0.007 | 17% | 140,562 | $7,346,958 |
Yesterday’s Small Cap Winners included:
Newmark Property REIT was charging hard at the top of the Small Caps ladder Wednesday, up more than 38% on news that it has entered into a Bid Implementation Deed that will see BWP Management lock in an off-market, 100% takeover, as part of an a proposed all-scrip merger between the pair.
It’s an almost-impossible to turn down transaction, with BWP happy to cough up 0.40 BWP units per NPR security, to meet an implied value of $1.39 per NPR security – which is a thunderous 43.1% premium to its closing price Tuesday at $0.97 a pop.
Meanwhile, Surefire Resources (ASX:SRN) hit a home run in the lab, with the company claiming a breakthrough pre-treatment and leach process that has allowed it to extract 91% of vanadium and 88% of titanium directly from Victory Bore magnetite concentrate.
It’s big news for Surefire, and stems from the company’s strategy of teaming up with METS Engineering in May last year, specifically to look into developing a better method of extraction, specifically for vanadium – as it appears that the ”unexpected extraction” of titanium during the process is a surprise bonus for the team.
The process is, as you’d expect, commercial in confidence – so, the specifics aren’t going to be made public just yet – and Surefire says it is subject to a Provisional Patent protection and remains solely the company’s IP.
Market minnow Eden Innovations (ASX:EDE) banked a 33.3% jump on the heels of a positive quarterly, which talked up “interest from a large multi-national company” in the company’s patented, core pyrolysis tech to make hydrogen and carbon nanotubes from natural gas without all that pesky CO2 as a by-product.
Eden reports that revenue for December quarter for its EdenCrete product is up 8% on PCP, however sales of its OptiBlend have fallen dramatically, down -93% – with a caveat that there are some significant sales negotiations underway in India at the moment.
And online retailer Harris Technology (ASX:HT8) has dropped its quarterly with the news that it has generated sales revenue of $4.9m through the December quarter, with thanks to an “increased contribution from the Household and Seasonal categories in line with the busy retail season through Black Friday, Christmas and Boxing Day”.
That was enough to drive a net operating cash inflow of $235,000 for the quarter, marking the second consecutive quarter and just pipping the previous three-month result of $226,000.
Later in the day, Harvest Technology Group (ASX:HTG) spiked on news that its received both second and third orders for its Nodestream technology from its significant Five-Eyes defence customer, in the total amount of approximately $380,000 – which has reportedly been paid up-front, and in cash.
And Flynn Gold (ASX:FG1) enjoyed a late surge after lunch, after the results from an Extraordinary General Meeting were published, days out from the extended deadline of the company’s in-progress share purchase plan.
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 | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ME1 | Melodiol Glb Health | 0.001 | -50% | 14,977,218 | $9,833,237 |
| DXN | DXN Limited | 0.001 | -33% | 1,000,000 | $3,230,010 |
| JAV | Javelin Minerals Ltd | 0.001 | -33% | 600,000 | $2,450,593 |
| NAN | Nanosonics Limited | 2.915 | -33% | 7,885,293 | $1,323,364,334 |
| MRD | Mount Ridley Mines | 0.0015 | -25% | 1,200,600 | $15,569,766 |
| VAL | Valor Resources Ltd | 0.003 | -25% | 1,825,245 | $16,693,339 |
| ESR | Estrella Res Ltd | 0.0045 | -25% | 111,602 | $10,556,231 |
| HTA | Hutchison | 0.031 | -21% | 211,779 | $529,327,835 |
| IRX | Inhalerx Limited | 0.02 | -20% | 4,615 | $4,744,174 |
| 88E | 88 Energy Ltd | 0.004 | -20% | 10,982,471 | $123,627,103 |
| INP | Incentiapay Ltd | 0.004 | -20% | 99,141 | $6,388,573 |
| PRX | Prodigy Gold NL | 0.004 | -20% | 275,550 | $8,755,539 |
| WBE | Whitebark Energy | 0.015 | -17% | 550,300 | $2,947,358 |
| WEL | Winchester Energy | 0.0025 | -17% | 901,167 | $3,061,266 |
| AKN | Auking Mining Ltd | 0.035 | -15% | 431,140 | $9,444,502 |
| X2M | X2M Connect Limited | 0.035 | -15% | 57,998 | $8,615,259 |
| CCO | The Calmer Co Int | 0.006 | -14% | 778,861 | $6,002,466 |
| MOM | Moab Minerals Ltd | 0.006 | -14% | 445,958 | $4,983,744 |
| RAS | Ragusa Minerals Ltd | 0.03 | -14% | 437,162 | $4,990,958 |
| 1TT | Thrive Tribe Tech | 0.013 | -13% | 16,239 | $4,449,323 |
| CRR | Critical Resources | 0.013 | -13% | 6,184,807 | $26,667,754 |
| COD | Coda Minerals Ltd | 0.1 | -13% | 214,778 | $16,372,708 |
| BUY | Bounty Oil & Gas NL | 0.007 | -13% | 204,991 | $11,988,008 |
| BXN | Bioxyne Ltd | 0.014 | -13% | 796,422 | $30,426,326 |
| ME1 | Melodiol Glb Health | 0.001 | -50% | 14,977,218 | $9,833,237 |
TRADING HALTS
Merchant House (ASX:MHI) – pending an announcement to the market in relation to a material asset sale from the Company’s subsidiary, Footwear Industries of Tennessee.
Cassius Mining (ASX:CMD) – pending an announcement by the Company in relation to a capital raising.
Papyrus Australia (ASX:PPY) – pending an announcement to be made to the market regarding a Share Sale & Purchase Agreement.
Matador Mining (ASX:MZZ) – “Out of an abundance of caution related to the remediation of a government clerical error relating to the status of a few of Matador’s tenements in Newfoundland.”