French postcards... so rude, your great granfather had to hide them from his wife... or maybe he didn't. 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 19 August, 2024 – an important date in the history of photography and saucy French postcards.
It was on this day in 1839 that a photographic process pioneered by Louis Daguerre was gifted to the world, when the French government published the complete working instructions for the process, allowing anyone to take photos.
What most people don’t know (because I just made it up) was that the French government included the instruction to “Envoyer des nus” – which sparked the boom in pervy French postcards that continued until the invention of text messaging 150 years later.
Luckily for you, you won’t have to waste a postage stamp in order 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$2,507.82 (+2.05%)
Silver: US$29.38 (+2.38%)
Nickel (3mth): US$16,447/t (+0.67%)
Copper (3mth): US$8,937/t (-1.26%)
Zinc: US$2,771/t (-0.54%)
Oil (WTI): US$76.65 (-1.93%)
Oil (Brent): US$79.68 (-1.68%)
Iron 62pc Fe: US$92.30/t (-1.15%)
AUD/USD: 0.6669 (+0.01%)
Bitcoin: US$$59,701.90 (+0.34%)
WHAT GOT YOU TALKING
Looks like IPOs are back on the menu, with a bunch of resources stocks prepping to make a debut on the ASX in the coming months. Here’s a rundown of what’s on the horizon.
IPOs are back on the ASX menu with a handful of resources floats in the pipeline in copper, uranium and lithiumhttps://t.co/q0XJ6wHBsk
— Stockhead (@StockheadAU) August 16, 2024
FRIDAY’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 |
|---|---|---|---|---|---|
| IEC | Intra Energy Corp | 0.002 | 100% | 430,000.00 | $1,690,782 |
| RIL | Redivium Limited | 0.005 | 67% | 22,760,373.00 | $8,192,564 |
| HLX | Helix Resources | 0.003 | 50% | 10,699,378.00 | $6,528,387 |
| AUK | Aumake Limited | 0.011 | 38% | 21,165,293.00 | $15,425,928 |
| BCT | Bluechiip Limited | 0.004 | 33% | 250,000.00 | $3,546,119 |
| JAV | Javelin Minerals Ltd | 0.002 | 33% | 773,602.00 | $6,415,269 |
| RGT | Argent Biopharma Ltd | 0.220 | 33% | 302,238.00 | $7,986,924 |
| JAY | Jayride Group | 0.012 | 33% | 101,800.00 | $2,126,782 |
| NMT | Neometals Ltd | 0.079 | 25% | 3,491,041.00 | $39,263,580 |
| ARV | Artemis Resources | 0.015 | 25% | 25,701,508.00 | $23,002,589 |
| 1CG | One Click Group Ltd | 0.010 | 25% | 179,513.00 | $5,625,431 |
| 1TT | Thrive Tribe Tech | 0.003 | 25% | 356,636.00 | $1,223,243 |
| EEL | Enrg Elements Ltd | 0.003 | 25% | 1,503,898.00 | $2,019,930 |
| EMT | Emetals Limited | 0.005 | 25% | 106,000.00 | $3,400,000 |
| VML | Vital Metals Limited | 0.003 | 25% | 145,229.00 | $11,790,134 |
| LRV | Larvottoresources | 0.155 | 24% | 9,939,096.00 | $38,494,308 |
| IMI | Infinitymining | 0.016 | 23% | 100,000.00 | $1,543,794 |
| SM1 | Synlait Milk Ltd | 0.338 | 23% | 715,947.00 | $60,109,957 |
| NAG | Nagambie Resources | 0.011 | 22% | 12,301,450.00 | $7,169,721 |
| KOB | Kobaresourceslimited | 0.140 | 22% | 166,692.00 | $18,234,586 |
| APX | Appen Limited | 1.095 | 21% | 16,549,425.00 | $201,816,487 |
| DTR | Dateline Resources | 0.006 | 20% | 3,257,020.00 | $11,087,566 |
| KPO | Kalina Power Limited | 0.006 | 20% | 5,571,358.00 | $12,431,970 |
Friday’s Small Cap Winners included:
A2 Milk (ASX:A2M) jumped almost 5% after telling investors that it has settled a long-standing dispute with Synlait Milk (ASX:SM1), allowing it to start producing its own infant formula. The deal, which involves a $22.6 million payment, ends an exclusivity agreement and resolves their complex relationship, where Synlait previously supplied most of A2 Milk’s formula.
Miramar Resources (ASX:M2R) announced the commencement of the maiden drilling campaign within the Company’s 100%-owned Bangemall Project portfolio in the Gascoyne region of WA, co-funded through the WA Government’s Exploration Incentive Scheme (EIS) to test several airborne +/- ground EM anomalies at Mount Vernon and Trouble Bore highlighted by Miramar’s exploration programs.
Poseidon Nickel (ASX:POS) was climbing after the company refiled news of gold mineralisation, “very similar to nearby gold mines including Kanowna Belle and Gordon Sirdar”, at the company’s Black Swan prospect in the WA Goldfields. Poseidon refiled the announcement after it tripped over the rules around announcing visual gold during early exploration while showing off some of the 52 gold nuggets with a combined weight of 17.9g the company has picked up.
Elixir Energy (ASX:EXR) was also up Friday after delivering an update on its Daydream-2 program in the 100%-owned Grandis Project in Queensland’s Taroom Trough. Elixir says the flow test of the Lorelle Sandstone post stimulation is complete, with work moving on to the stimulation of the 5 upper zones. Lorelle Sandstone flows gas at stabilised flow rates of 2.1 and 2.5 MMSCFPD, which is approaching requirements for the entire project to clear the modelled pre-production economic hurdle
Larvotto Resources (ASX:LRV) was up on China’s news. Targeting first ore in 2026, LRV’s Hillgrove gold-antimony project in NSW has a maiden 606,00oz AuEq reserve, yet it’s the antimony that could really be the economic kicker, with 39,000t of the material.
Priced conservatively at US$15,000/t and including the gold endowment, the project is expected to have a capex of $73m and an NPV8 of $157m, according to a PFS.
At spot prices though, the NPV8 sits at $383m and an eye-whopping IRR of 114%. Those numbers are huge, and China’s export restriction announcement could see antimony prices spike considerably.
Adriatic Metals (ASX:ADT) was up no news, but the company did announce earlier a fatality at its Rupice deposit, part of its 65,000tpa Ag and 90,000tpa Zn Vares silver-zinc mine in Bosnia and Herzegovina, when an employee of a local Bosnian sub-contractor’s vehicle overturned. The incident didn’t occur near any mining operations but ADT secured the mine for 24 hours just in case.
It follows a tumultuous time for Adriatic, which saw its CEO and MD Paul Cronin resign, stepping down and returning to Australia ‘for family reasons’. He was replaced by interim CEO Laura Tyler.
Hard rock lithium explorer Patriot Battery Metals (ASX:PMT) was up on recent news. PMT is trundling along with exploration of the 80.1 Mt at 1.44% Li2O indicated resource at its Shaakichiuwaanaan (formerly Corvette) project in Canada. It’s just hired Alex Eastwood as a senior mining executive to help drive commercialisation efforts downstream. Eastwood is a Pilbara Minerals (ASX:PLS) alumni, rejoining his former-coworker and PMT MD Ken Brinsden.
Wildcat Resources (ASX:WC8) is up almost 20% this week as it continues to prove up its Tabba Tabba lithium project in the Pilbara, which is surrounded by the world-class 414Mt Pilgangoora and 259Mt Wodgina hard rock lithium mines. It’s Leia deposit continues to bring in the hits, with 67m at 1.9% Li2O, including 46m at 2.5% registered to the market on August 5.
FRIDAY’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 |
|---|---|---|---|---|---|
| SVL | Silver Mines Limited | 0.099 | -36% | 58,468,186 | $233,745,620 |
| MTB | Mount Burgess Mining | 0.001 | -33% | 237,500 | $1,947,220 |
| RNE | Renu Energy Ltd | 0.002 | -33% | 124,047 | $2,178,402 |
| AUH | Austchina Holdings | 0.003 | -25% | 5,452,030 | $8,401,535 |
| ENT | Enterprise Metals | 0.003 | -25% | 100,000 | $4,413,269 |
| ICU | Investor Centre Ltd | 0.003 | -25% | 1,853 | $1,218,045 |
| LPD | Lepidico Ltd | 0.002 | -25% | 1,137,152 | $17,178,250 |
| MCM | Mc Mining Ltd | 0.105 | -25% | 77,783 | $57,961,869 |
| 8IH | 8I Holdings Ltd | 0.007 | -22% | 86,040 | $3,133,448 |
| IXU | Ixup Limited | 0.023 | -21% | 211,433 | $44,884,825 |
| SRJ | SRJ Technologies | 0.057 | -20% | 2,679,570 | $11,309,905 |
| CRB | Carbine Resources | 0.004 | -20% | 2,070 | $2,758,689 |
| CTO | Citigold Corp Ltd | 0.004 | -20% | 875,000 | $15,000,000 |
| EVR | Ev Resources Ltd | 0.004 | -20% | 180,800 | $6,981,357 |
| MVL | Marvel Gold Limited | 0.008 | -20% | 1,366,095 | $8,637,907 |
| PUR | Pursuit Minerals | 0.002 | -20% | 62,941 | $9,088,500 |
| RML | Resolution Minerals | 0.002 | -20% | 250,000 | $4,025,055 |
| SFG | Seafarms Group Ltd | 0.002 | -20% | 125,000 | $12,091,498 |
| TTI | Traffic Technologies | 0.004 | -20% | 100,000 | $4,864,426 |
| PPK | PPK Group Limited | 0.435 | -18% | 234,262 | $47,680,124 |
| SVG | Savannah Goldfields | 0.024 | -17% | 13,334 | $8,151,463 |
| MHI | Merchant House | 0.125 | -17% | 44,214 | $14,139,974 |
| CMD | Cassius Mining Ltd | 0.005 | -17% | 1,440,100 | $3,252,027 |
TRADING HALTS
Andromeda Metals (ASX:ADN) – pending an announcement regarding a capital raising.
Pan Asia Metals (ASX:PAM) – pending the release of an announcement in relation to a proposed equity raise by way of a placement.
African Gold (ASX:A1G) – pending an announcement on a capital raising.
Regis Resources (ASX:RRL) – pending a formal announcement regarding a decision of the Federal Minister for Environment and Water on the application under Section 10 of the Aboriginal and Torres Strait Islander Heritage Protection Act 1984 in relation to the McPhillamys Project.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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