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Rise and Shine: Everything you need to know before the ASX opens
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Good morning everyone, and welcome to 19 July, 2024 – an important date for a couple of groovy reasons.
For starters, it was on this day in the Year 64 that Rome’s Circus Maximus caught fire, reducing it to the status of Circus Minimus and resulting in the grisly deaths of three clowns and a family of trapeze artists.
And on this day in 1324, the notion of travelling in style was given a new, almost unassailable high water mark, when ruler of the Mali Empire Mansa Musa arrived in Cairo on his way to Mecca.
It wasn’t so much Mansa Musa as it was his entourage that caught a few observers by surprise, as he was travelling to Mecca with a procession of 600,000 men, as well as 12,000 slaves and 80 camels, each of the dromedaries hauling 136kg of gold.
To save you from having to do the maths on that: 136 kegs = 4800 ounces, and if that gold was fetching today’s spot gold price in Aussie dollars, every one of those 80 camels was labouring under the weight of more than $17.5 million worth of very expensive metal.
The whole lot tallies up to $1.4bn, and it can only be assumed that he took that much gold with him to be 100% certain he could afford to get each of his family members something excellent from Duty Free.
Luckily for you, you won’t need to be hauling the GDP of Bulgaria (that’s an accurate joke – I looked it up and everything) through Egypt in order to get your hands on the info you need this morning, because – as always – I’ve worked super-hard to gather 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$2,474.50/oz (+0.25%)
Silver: US$30.72/oz (+1.13%)
Nickel (3mth): US$16,519/t (-0.45%)
Copper (3mth): US$9,668/t (+0.37%)
Zinc: US$2,858/t (+0.39%)
Oil (WTI): US$81.72/bbl (+0.99%)
Oil (Brent): US$85.72/bbl (+0.80%)
Iron 62pc Fe: US$108.94/t (-0.41%)
AUD/USD: 0.6740 (+0.15%)
Bitcoin: US$65,001.80 (+1.42%)
WHAT GOT YOU TALKING
Somebody left Bevis Yeo unsupervised near a functional laptop yesterday… and this is the magic that came pouring out. A cracking good read from one of the loveliest military tank enthusiasts I’ve ever spoken to on the phone on more than three non-consecutive occasions.
Stockhead’s senior #energy journalist Bevis Yeo presents this two-part special on which #gas projects could be goers in our Great Big Aussie Gas Digest. | #ASX #stocks https://t.co/NsfbMLEhsA
— Stockhead (@StockheadAU) July 17, 2024
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 |
|---|---|---|---|---|---|
| GCR | Golden Cross | 0.002 | 100% | 1,500,000 | $1,097,256 |
| M2R | Miramar | 0.014 | 75% | 77,588,728 | $1,579,118 |
| PKO | Peako Limited | 0.007 | 75% | 9,513,371 | $2,108,339 |
| ME1 | Melodiol Glb Health | 0.003 | 50% | 3,849,502 | $612,527 |
| ENL | Enlitic Inc. | 0.175 | 35% | 12,654 | $10,232,902 |
| LNR | Lanthanein Resources | 0.004 | 33% | 14,943,377 | $7,330,908 |
| TMK | TMK Energy Limited | 0.004 | 33% | 5,210,012 | $20,764,836 |
| DSK | Dusk Group | 0.770 | 31% | 1,124,252 | $36,738,040 |
| DUN | Dundasminerals | 0.027 | 23% | 1,153,720 | $1,861,817 |
| PSL | Paterson Resources | 0.022 | 22% | 1,100,243 | $8,208,682 |
| LCY | Legacy Iron Ore | 0.017 | 21% | 4,654,562 | $107,989,676 |
| CHW | Chilwaminerals | 0.540 | 21% | 34,900 | $20,414,375 |
| NRX | Noronex Limited | 0.015 | 20% | 28,226,247 | $6,108,639 |
| EVR | Ev Resources Ltd | 0.006 | 20% | 1,672,353 | $6,856,357 |
| HLX | Helix Resources | 0.003 | 20% | 8,647,712 | $8,160,484 |
| LML | Lincoln Minerals | 0.006 | 20% | 152,000 | $10,281,298 |
| MCL | Mighty Craft Ltd | 0.006 | 20% | 204,288 | $1,844,546 |
| HTA | Hutchison | 0.034 | 20% | 15,301 | $380,030,240 |
| KLI | Killiresources | 0.135 | 17% | 2,978,743 | $13,825,730 |
| PAM | Pan Asia Metals | 0.090 | 17% | 57,023 | $14,284,912 |
| FGL | Frugl Group Limited | 0.049 | 17% | 53,931 | $4,406,162 |
| PUR | Pursuit Minerals | 0.004 | 17% | 2,218,954 | $10,906,200 |
| SRN | Surefire Rescs NL | 0.007 | 17% | 1,319,123 | $11,917,847 |
| CTQ | Careteq Limited | 0.015 | 15% | 53,333 | $3,082,543 |
| AME | Alto Metals Limited | 0.038 | 15% | 537,496 | $23,810,265 |
Yesterday’s Small Cap Winners included:
Dusk Group (ASX:DSK) reported sales surged during the last five weeks of the fiscal year following a website relaunch and a bunch of strategic initiatives which appear to have paid off. 2H24 total sales were 5.8% lower on pcp, compared to a fall of 9.7% in 1H FY24.
The fragrance trader says sales run rate numbers continued to improve with unaudited sales growth of 0.4% vs the same time last year.
Meanwhile, Noronex (ASX:NRX) rose on news it entered into an Earn-in Agreement and Strategic Alliance with a wholly-owned subsidiary of South32 Ltd (South32) to accelerate copper exploration in Namibia.
The agreement means South32 has committed to fund A$15 million of exploration expenditure over five years at Noronex’s Humpback-Damara Project in Namibia, giving South32 the right to subscribe for a 60% interest in Noronex’s wholly owned subsidiary Noronex Exploration and Mining Company.
Miramar Resources (ASX:M2R), was up on news that it’s clocked up to 5.48% copper, 54.5% lead and 73.48g/t silver following the initial sampling program at its new Chain Pool project in the Gascoyne part of WA.
M2R executive chairman Allan Kelly reckons the Gascoyne region projects have the potential for all sorts of commodities but no-one’s had a really good look yet.
“For example, there has not been any modern and/or systematic exploration or drilling at the Joy Helen Prospect despite the presence of high-grade base metal mineralisation,” he said.
Macro Metals (ASX:M4M) which owns a portfolio of multiple iron ore projects situated within the well-established Pilbara and Midwest regions of WA says a field team at Goldsworthy East has completed a mapping and sampling program, 100km east of Port Hedland, while they were on site demarking the area to be covered by the heritage survey, which completed today.
Arizona Lithium (ASX:AZL) has announced that it has been conditionally approved for an investment incentive of up to $21.6m under the Saskatchewan government’s Oil & Gas Processing Investment Incentive Program. The funds are provided as transferable royalty credits, and can be claimed at a rate of 20% in the first calendar year of operations, 30% in the second calendar year, and 50% in the third calendar year against government royalties.
Easing off in the arvo, but still up was One Click Group (ASX:1CG) after the company hit the milestone of 150,000 users, with that figure representing a significant 57% up on the same time last year.
1CG says it has seen a major uptick in users through the start of this year’s tax season, with around 1,000 users per day signing up for its One Click Life fintech platform.
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 |
|---|---|---|---|---|---|
| ATH | Alterity Therap Ltd | 0.005 | -36% | 93,602,994 | $36,715,807 |
| APC | Aust Potash Ltd | 0.001 | -33% | 42,037 | $6,030,284 |
| BNL | Blue Star Helium Ltd | 0.005 | -29% | 186,596 | $13,614,197 |
| DOU | Douugh Limited | 0.003 | -25% | 26,975 | $4,328,276 |
| JAV | Javelin Minerals Ltd | 0.002 | -25% | 52,281 | $6,250,885 |
| RIE | Riedel Resources Ltd | 0.002 | -25% | 1,500,000 | $4,447,671 |
| YAR | Yari Minerals Ltd | 0.003 | -25% | 1,010,757 | $1,929,431 |
| LGM | Legacy Minerals | 0.250 | -21% | 555,698 | $33,218,324 |
| ZLD | Zelira Therapeutics | 0.800 | -20% | 31,000 | $11,347,155 |
| BCT | Bluechiip Limited | 0.004 | -20% | 1,214,898 | $5,910,198 |
| CTO | Citigold Corp Ltd | 0.004 | -20% | 1 | $15,000,000 |
| MEL | Metgasco Ltd | 0.004 | -20% | 15,000 | $7,237,934 |
| ROG | Red Sky Energy. | 0.004 | -20% | 1,525,000 | $27,111,136 |
| REC | Rechargemetals | 0.025 | -19% | 168,170 | $4,330,389 |
| NOV | Novatti Group Ltd | 0.055 | -19% | 749,105 | $24,191,030 |
| AHK | Ark Mines Limited | 0.200 | -18% | 82,721 | $13,584,371 |
| AOA | Ausmon Resorces | 0.003 | -17% | 110 | $3,176,998 |
| AUK | Aumake Limited | 0.003 | -17% | 750,000 | $5,743,220 |
| AVE | Avecho Biotech Ltd | 0.003 | -17% | 113,990 | $9,507,891 |
| BPP | Babylon Pump & Power | 0.005 | -17% | 1 | $14,997,294 |
| ID8 | Identitii Limited | 0.010 | -17% | 967,981 | $7,214,190 |
| PRX | Prodigy Gold NL | 0.003 | -17% | 620,002 | $6,353,323 |
| PLG | Pearlgullironlimited | 0.017 | -15% | 245,785 | $4,090,836 |
| AD1 | AD1 Holdings Limited | 0.006 | -14% | 709,000 | $6,290,539 |
TRADING HALTS
Auking Mining (ASX:AKN) – pending an announcement regarding a proposed material acquisition of an exploration project and an associated capital raising.
AMA Group (ASX:AMA) – for the purposes of undertaking a proposed equity raising.
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