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Good morning everyone, and welcome to 06 August, 2024 – an important date in the history of everything for a few different reasons.

It was on this day in 1661 that the Treaty of the Hague was signed, formalising the sale of New Holland (or, as we know it today, Brazil) by the Dutch Republic to Portugal for the princely sum of 63 tonnes of gold – which is worth just shy of US$5 billion at today’s price of US$2,405 a tonne.

On this day in 1819, Norwich University was founded in Vermont as the first private military school in the United States, meaning that frustrated fathers with sons who simply wouldn’t behave themselves finally had somewhere to threaten to send them if they didn’t turn their lives around.

And finally it was on this day in 1890 at At Auburn Prison in New York that murderer William Kemmler becomes the first person to be executed by electric chair, which was deemed to be “much faster than execution by wooden chair” by those in attendance.

Luckily for you, you won’t have to get shipped off to military school to get your hands on good pre-market info today.

That’s because – as always – we’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$2450.75  (-0.38%)

Silver: US$28.23 (-1.13%)

Nickel (3mth): US$16,155/t (+1.83%)

Copper (3mth): US$9,042/t (+0.73%)

Zinc: US$2,628/t (+0.25%)

Oil (WTI): US$72.56 (-1.43%)

Oil (Brent): US$75.82 (-1.27%)

Iron 62pc Fe: US$104.00/t (—%)

AUD/USD: 0.6374 (-2.02%)

Bitcoin: US$$51,616.80  (-15.01%)

 

WHAT GOT YOU TALKING

It’s been a while since we gave Guy a plug here, so why don’t you give Mr Le Page some love, and go check out what he has to say about his trip to Canada to visit American West Metals’ Storm copper project in the Land of the Large Angry Moose.

 

 

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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Yesterday’s Small Cap Winners included:

East 33 (ASX:E33) was moving rapidly on Monday after news broke that the company, along with Yumbah Aquaculture, has entered a Bid Implementation Deed that would see an off-market takeover of 100% by Yumbah, for cash of $0.022 per East 33 share – a premium that is well above East 33’s previous close at $0.012 a pop.

Red Mountain Mining (ASX:RMX) was up on Monday morning on news that the company has acquired four exploration licences that are prospective for gold in the Yilgarn‘s Murchison Domain southeast of Mount Magnet. The Project covers 111km2 of the Kiabye Greenstone Belt, an underexplored gold belt adjacent to the Narndee Igneous Complex, where shallow historical exploration has found evidence of gold mineralisation before.

Carnavale Resources (ASX:CAV) was up on news that its ongoing metallurgical testwork for its headline Swiftsure Deposit within the Kookynie gold project in Western Australia has produced some great results, with high overall gold recovery rates ranging from 98.9% to 99.5%, with recovery of gravity gold averaging 87.1% and recovery from carbon in Leach (CIL) test 99.7%.

Metal Hawk (ASX:MHK) joined the growing list of goldies announcing discoveries today, revealing that it has rock chip and soil samples from the new Siberian Tiger prospect at Leinster South which have returned significant high grade gold assays over a broad area. MHK says the best of the results include 20.2 g/t Au with a total of 16 samples grading above 1.0 g/t Au.

Killi Resources (ASX:KLI) says that its hunt for gold at its 100% owned Mt Rawdon West project in Queensland, where pole-dipole Induced Polarisation (IP) geophysical survey showed a strong spatial association with gold-copper mineralisation that have helped the company identify new, discrete chargeable targets in line with earlier surface sampling that showed copper-gold mineralisation of 238g/t Au and 5.4% Cu.

Spirit Telecom (ASX:ST1) was one of a handful of tech companies doing well on Monday morning, after announcing that it is expecting to do better than expected for FY25, saying that the company is confident that its strategy of selling combined Cyber Security, Managed Services and Collaboration platforms will improve its profitability and deliver uEBITDA  of between $9.5 million and $10.5 million and revenue of between $150 million and $160 million in FY25

Ardea Resources (ASX:ARL) has pushed the supply chain diversification narrative to sell its 50:50 4Mt KNP Goongarrie Nickel Hub JV. ARL warns of mounting concerns from OEM’s about buying product from the environmentally non-compliant and high-risk jurisdictions of China and Indonesia – two of the world’s largest nickel producers. ARL signed on Japanese majors Sumitomo and Mitsubishi, which will fully fund a DFS for up to $98.5m and jointly farm-in to a 50% share of the project.

Horizon Minerals (ASX:HRZ) has geared itself to start production and gold sales from its 1.8Moz Goldfields assets, with the 428,000oz Boorara to kick off in the September quarter and 54,570oz Phillips Find during the following. It has a 1.24Mt ore sale agreement with Norton Gold Fields in place and a toll agreement through FMR Investments’ 1Mtpa Greenfields mill.

Trade on Killi Resources (ASX:KLI) was quite significant on Monday. The explorer is holding court on the ASX once again today, after confirming gold and copper drill targets from ground IP surveying across the Kaa prospect at Mt Rawdon West which intercepted some bonkers gold grades up to 238g/t gold and 5.2% copper. Those grades were found via IP line 3600N, a trend that’s sub-parallel to the recently mapped 1.8km-long high-grade copper-gold trend at surface.

Metal Hawk (ASX:MHK) says high-grade gold has been discovered from rock chip and soil samples across the Siberian Tiger prospect, part of MHK’s Leinster South gold project, also in the Goldfields. The prospect area is just 15km from the 4.5Moz Lawlers mining centre and assayed results showed up to 20.2g/t gold from 16 >1g/t samples.

PYC Therapeutics (ASX:PYC) has provided an update on its ongoing clinical trials for VP-001, an investigational drug candidate designed to treat Retinitis Pigmentosa type 11 (RP11). RP11 is a rare and severe eye disease that leads to blindness. The company has previously highlighted encouraging developments in its trials, showcasing the drug’s potential to significantly improve visual function in affected patients.

Metal Bank (ASX:MBK)  has gained exploration rights for Area 47 in Jordan, a promising site for copper and molybdenum. The company is also applying for rights to Area 65, where nearby drilling has shown high copper levels. MBK plans to evaluate these areas along with its Malaqa Project, aiming for efficient drilling by combining efforts.

Magnetic Resources (ASX:MAU)  has released a positive economic update for its Lady Julie Gold Project in WA. The project is expected to produce 817,470 ounces of gold over 8 years, averaging 104,000 ounces per year, with low costs and high profit margins. The project’s payback period is 12 months, and it boasts a 135% internal rate of return (IRR) and a total EBITDA of $1.49 billion. Operating costs are projected at $1,377 per ounce, with all-in sustaining costs at $1,386 per ounce.

And…. eNova Mining (ASX:ENV) has made notable progress with exploration drilling at its CODA project. The company has completed 6 diamond drill holes and 5 reverse circulation holes, with over 500 samples sent for analysis.

 

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:

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TRADING HALTS 

Patriot Battery Metals (ASX:PMT) – pending an announcement regarding an upgraded mineral resource estimate and exploration target.

Rubicon Water (ASX:RWL) – pending an announcement in relation to a proposed equity capital raising.

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