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Good morning everyone, and welcome to August 26, 2024 – an important date in the history of getting famous for seeing stuff in the sky.

It was on this day in 1682 that Edmond Halley spotted a comet, noted that its pathway through the heavens was similar to another bright comet astronomers saw “76 years earlier” in 1607.

Using some fancy maths – including (but not limited to) subtracting 76 from 1607 – Halley found that a similar-looking comet had also been spotted hurtling through space in 1531.

It was at that point that Halley made a profound prediction, announcing that those three comets were, in fact, one and the same – and that it would make a return visit to earth’s skies 76 years later, in 1758.

It was a pretty bold prediction, but in hindsight a safe one. There was Buckley’s chance he’d still be alive for anyone to bust his balls about it.

Turned out he was correct, and in honour of his ability to perform addition and subtraction, the 15km by 8km glowing ball that pops in to say hi every 76 (give or take 4 either way) of our puny Earth years now bears his name, Halley’s Comet.

It was famously pictured on the Bayeux Tapestry in 1076 and last made an appearance near Earth in 1986, when it was an indistinct and thoroughly underwhelming fuzzy blob.

Halley is remembered for his comet, and a quote attributed to him, which reads: “This sight… is by far the noblest astronomy affords.”

Luckily for you, you won’t have to devote your entire life to staring at stuff that’s a long, looong way away 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$2,509.63/oz (+0.89%)

Silver: US$29.82/oz (+2.70%)

Nickel (3mth): US$16,737/t (+0.81%)

Copper (3mth): US$9,173/t (+1.24%)

Zinc: US$2,922/t (+2.24%)

Oil (WTI): US$74.83/bbl (+2.49%)

Oil (Brent): US$79.02/bbl (+2.33%)

Iron 62pc Fe: US$95.75/t (-1.49%)

AUD/USD: 0.6794 (+1.35%)

Bitcoin: US$$64,175.80 (+0.15%)

 

WHAT GOT YOU TALKING

What kind of gold game are the big banks starting to talk, now that the price has cracked US$2,500/oz – and stayed there – in the past couple of weeks? You’ll need to read this to find out:

 

 

FRIDAY’S ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks:

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Friday’s Small Cap Winners included:

Bioxyne (ASX:BXN) was still riding high from a recent announcement. On Tuesday,  the company  said it has achieved an Australian first with the successful manufacturing and delivery of the country’s first pharmaceutical cannabis pastilles (gummies) under its Goods Manufacturing Practice certification.

Elixir Energy (ASX:EXR) announced the Daydream-2 well in Queensland’s Taroom Trough has successfully flowed gas from the deepest coal seams yet recorded in Australia. This marks the first gas flow from these deep coals in the region and achieves a key goal for the project.

The gas flow occurred naturally through a full well-bore of water, and Elixir will now work with independent certifiers to begin converting prospective resources into contingent resources. The next phase involves removing plugs from the well’s six stimulated zones and conducting a comprehensive flow test.

Buxton Resources (ASX:BUX) provided an update on its Graphite Bull and Narryer Projects. Core drilling at Graphite Bull has been completed, totalling 1,221.5 metres across two holes. Reverse circulation drilling is ongoing. All holes intersected graphite, with one notable intersection of 68 metres at over 10% visually estimated Total Graphitic Carbon. Product qualification with BTR in China has begun, and RC drilling will soon start at the Narryer Project. Recent drilling aims to support a significant mineral resource estimate by Q4 2024.

 

FRIDAY’S ASX SMALL CAP LAGGARDS

Here are the worst performing ASX small cap stocks:

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TRADING HALTS 

Dart Mining (ASX:DTM) – pending the release of an announcement regarding a capital raise initiative and project acquisition.

MC Mining (ASX:MCM) – to give the Company the time it needs to respond to a price query from ASX and to update the market in relation to a proposed material equity capital raising.

Raiz Invest (ASX:RZI) – pending the release of a material announcement relating to a strategic partnership and placement of shares.

Sunshine Metals (ASX:SHN) – pending the release of an announcement to the market regarding a proposed divestment of an asset.

Spirit Technologies (ASX:ST1) – pending an announcement by the Company to the market in relation to an acquisition, proposed equity raising and placement.

Queensland Pacific Metals (ASX:QPM) – pending the release of new commercial agreements relating to the Moranbah Gas Project.

Lion Energy (ASX:LIO) – pending the release of an announcement concerning a potential joint venture for the Company’s Port of Brisbane Hydrogen Project.

Tambourah Metals (ASX:TMB) ) – pending an announcement to the market in relation to the outcome of a capital raising.

NickelSearch (ASX:NIS) – pending an announcement regarding a proposed project acquisition and capital raising.

 

At Stockhead, we tell it like it is. While Bioxyne was a Stockhead advertiser at the time of writing, it did not sponsor this article.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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