Nothing quite says "good morning" like being swept out to sea before breakfast. Pic via Getty Images.
Rise and Shine: Everything you need to know before the ASX opens
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Good morning everyone, and welcome to July 24, 2024 – an important date in the history of fighting for stuff worth fighting for.
It was on this day in 1487 that the citizens of Leeuwarden, Netherlands, banded together and rose up against their cruel and evil overlords, because of an egregious ban on foreign beer.
The story goes back to 1482, when four cities in the region signed a deal that would allow the free trade of beer between them – but the treaty only ran for four years.
When it expired, the citizens of Leeuwarden, who were no slouches when it came to making their own beer, found themselves the subject of harsh new prohibitions that said that the people of Leeuwarden were only allowed to buy beer that had been made in Leeuwarden.
This, the people said, was bogus – and demanded that they be allowed to get one of their favourite beers from nearby Haarlem.
The demand was almost immediately shot down by local nobleman Pieter Cammingha, enraging locals and others from the nearby towns and within hours, some 8,000 people marched into the centre of town and did the only reasonable thing.
They rioted, and sacked the city, leaving a number of people dead and injured – and the local nobles with little choice but to back down.
Luckily for you, you won’t need to raise an army of 8,000 and burn the city of Sydney to the ground to get the info you need this morning.
That’s 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$2,392.80 (-0.08%)
Silver: US$29.06 (-0.87%)
Nickel (3mth): US$16,213/t (-0.37%)
Copper (3mth): US$9,181/t (-0.38%)
Zinc: US$2,726/t (-0.02%)
Oil (WTI): US$78.31 (-0.11%)
Oil (Brent): US$82.37 (-0.04%)
Iron 62pc Fe: US$108.16/t (-0.267%)
AUD/USD: 0.6631 (-0.14%)
Bitcoin: US$66,644.10 (-1.35%)
WHAT GOT YOU TALKING
Our latest Investor Guide dropped yesterday, and it’s a banger. Check it out at this link here:
Stockhead’s #resources writers – including #mining guru Barry FitzGerald – take you inside the #copper and #gold markets and zero in on junior #ASX companies exploring for the next major mine. | #investing https://t.co/uKVLi0mhV3
— Stockhead (@StockheadAU) July 22, 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 |
|---|---|---|---|---|---|
| DEL | Delorean Corporation | 0.080 | 70% | 19,431,659 | $10,138,883 |
| ME1 | Melodiol Glb Health | 0.005 | 50% | 59,785,483 | $1,102,750 |
| AYM | Australia United Min | 0.003 | 50% | 799,907 | $3,685,155 |
| MHC | Manhattan Corp Ltd | 0.002 | 0% | 65,000 | $4,405,470 |
| RML | Resolution Minerals | 0.003 | 50% | 250,000 | $3,220,044 |
| AEV | Avenira Limited | 0.007 | 40% | 18,325,072 | $11,745,170 |
| AUK | Aumake Limited | 0.008 | 33% | 25,770,671 | $11,486,441 |
| LRL | Labyrinth Resources | 0.014 | 27% | 2,271,934 | $13,062,981 |
| NMR | Native Mineral Res | 0.028 | 27% | 66,599 | $4,616,711 |
| DYM | Dynamicmetalslimited | 0.170 | 26% | 210,913 | $4,860,000 |
| SIH | Sihayo Gold Limited | 0.003 | 25% | 170,000 | $24,408,512 |
| SRN | Surefire Rescs NL | 0.008 | 23% | 4,174,466 | $12,911,001 |
| QHL | Quickstep Holdings | 0.355 | 22% | 1,246,993 | $20,800,602 |
| SPR | Spartan Resources | 1.205 | 21% | 16,857,002 | $1,101,323,597 |
| EVR | Ev Resources Ltd | 0.006 | 20% | 800,000 | $6,856,357 |
| ATV | Activeportgroupltd | 0.048 | 17% | 112,084 | $13,035,603 |
| UCM | Uscom Limited | 0.021 | 17% | 146,430 | $4,488,201 |
| CMD | Cassius Mining Ltd | 0.007 | 17% | 92,500 | $3,252,027 |
| DMG | Dragon Mountain Gold | 0.007 | 17% | 200,141 | $2,368,030 |
| GMN | Gold Mountain Ltd | 0.004 | 17% | 10,506,607 | $9,533,230 |
| MVL | Marvel Gold Limited | 0.007 | 17% | 918,284 | $5,182,744 |
| RFT | Rectifier Technolog | 0.007 | 17% | 307,142 | $8,291,904 |
| SEN | Senetas Corporation | 0.014 | 17% | 47,370 | $18,855,400 |
| VML | Vital Metals Limited | 0.004 | 17% | 8,248,541 | $17,685,201 |
| SWP | Swoop Holdings Ltd | 0.225 | 15% | 159,491 | $40,600,743 |
Yesterday’s Small Cap Winners included:
Delorean (ASX:DEL) was leading the way at lunchtime, gaining ground after issuing guidance for its FY24 results, announcing unaudited revenue for the year of between $27m and $28m, a record NPAT and targeting an eventual EBITDA of between $4.5 million and $5.1 million.
Melodiol Global Health (ASX:ME1) was also off to a flying start, after announcing a $12 million cash asset sale to bolster its bank account. The company has signed a non-binding LOI with Canadian-based Nacerna Life Sciences to sell its Mernova production facility and land in Nova Scotia, with two earn-out provisions totalling $2.2m which are payable to Melodiol on completion of each earn out provisions.
Resolution Minerals (ASX:RML) released its quarterly report this morning, revealing that it spent $49,000 on exploration activities in the June quarter, leaving the company with $239,000 in the bank.
Quickstep Holdings (ASX:QHL) was rising on news via a business update, with the company revealing that restructuring activity, announced to the market in June 2024, has been successfully completed, and a number of key business strands, including work on the C-130 and F35 aircraft, have been planned out. The company also highlighted record drone production output in Q4 FY24 from the Company’s Geelong facility.
EV Resources (ASX:EVR) was up on yesterday’s news that surface rock chip samples of up to 71% Cu and 874g/t Ag demonstrated previously unknown copper and precious metals potential at the Khartoum project in northern Queensland, with the company reporting that the high-grade copper values include 10.9% Cu, 9.11% Cu, 8.6% Cu and 4.16% Cu.
Vital Metals (ASX:VML) was up on news that it has received assays from the final 24 drill holes completed in its 2023 resource definition exploratory work at its Tardiff prospect, with the program continuing to return shallow high grades including 53.5m at 1.5% TREO from 6.7m incl. 1.8m at 8% TREO within 15.8m at 2.6% TREO, and 27.45m at 1.5% TREO from 4.55m incl. 2m at 6.3% TREO.
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 |
|---|---|---|---|---|---|
| AXL | Axel Ree Limited | 0.120 | -40% | 7,945,148 | $14,883,775 |
| LPD | Lepidico Ltd | 0.002 | -33% | 451,584 | $25,767,358 |
| MTL | Mantle Minerals Ltd | 0.002 | -33% | 5,725,000 | $18,592,338 |
| PRX | Prodigy Gold NL | 0.002 | -33% | 5,009,333 | $6,353,323 |
| TKL | Traka Resources | 0.001 | -33% | 90,000 | $2,918,488 |
| YPB | YPB Group Ltd | 0.002 | -33% | 2,003,236 | $6,923,884 |
| PGD | Peregrine Gold | 0.145 | -33% | 148,145 | $14,593,861 |
| ASP | Aspermont Limited | 0.007 | -22% | 1,000,000 | $22,500,105 |
| JAY | Jayride Group | 0.007 | -22% | 735,647 | $2,126,782 |
| ROC | Rocketboots | 0.086 | -22% | 153,124 | $8,931,285 |
| MSG | Mcs Services Limited | 0.004 | -20% | 4,050,631 | $990,498 |
| VFX | Visionflex Group Ltd | 0.004 | -20% | 58 | $7,500,000 |
| EZZ | EZZ Life Science | 1.875 | -18% | 691,405 | $101,706,228 |
| KLI | Killiresources | 0.125 | -17% | 2,313,552 | $18,033,561 |
| ODY | Odyssey Gold Ltd | 0.015 | -17% | 1,972,073 | $16,179,680 |
| XGL | Xamble Group Limited | 0.025 | -17% | 10,000 | $8,884,713 |
| AQI | Alicanto Min Ltd | 0.020 | -17% | 154,476 | $14,774,083 |
| AVE | Avecho Biotech Ltd | 0.003 | -17% | 10,000 | $9,507,891 |
| NRZ | Neurizer Ltd | 0.005 | -17% | 6,714,086 | $11,414,584 |
| ODE | Odessa Minerals Ltd | 0.003 | -17% | 721,830 | $3,129,848 |
| PFE | Panteraminerals | 0.031 | -16% | 273,692 | $14,023,988 |
| RCL | Readcloud | 0.097 | -16% | 917,924 | $16,813,518 |
| BDG | Black Dragon Gold | 0.017 | -15% | 300,000 | $5,350,354 |
| AON | Apollo Minerals Ltd | 0.018 | -14% | 974,199 | $14,623,201 |
TRADING HALTS
Buxton Resources (ASX:BUX) – pending an announcement related to the ongoing drilling program at the Graphite Bull Project, WA.
BrainChip Holdings (ASX:BRN) – pending an announcement relating to a capital raise.
AD1 Holdings (ASX:AD1) – pending an announcement by the Company to the market regarding an acquisition and a supporting capital raise.
Novatti (ASX:NOV) – pending an announcement by the Company in connection with the Company’s interest in IBOA Group Holdings.
Elixir Energy (ASX:EXR) – pending an announcement with respect to a capital raising.
Arena REIT (ASX:ARF) – pending an announcement in relation to a proposed equity capital raising.
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