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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 02 September, 2024 – an important date in the history of the arts and true crime.
That’s because it was on this day in 1642, the English government ordered every theatre in London be shut down, in the wake of the world premiere of an early version of Andrew Lloyd Webber’s stage musical Cats.
And on this day in 1798, the first ever bank robbery on US soil took place at the Bank of Pennsylvania, which was robbed of $162,821 – which in today’s money would be just over US$4.16 million.
Unluckily for the bank, there were no clear leads on who had done the robbery – mostly because the robber was only in the bank for 25 minutes, which meant the security artists employed by the bank to sketch any would-be thieves barely had time to set up their easel and watercolours before he was out the door with the cash.
The bank, in a big hurry to have someone punished, tried to pin the robbery on a blacksmith called Patrick Lyon, as he had been called in to change the locks on the bank just days earlier – so Lyon was thrown in jail for months, and despite being innocent, was effectively brutalised by the justice system that seemed almost hell-bent on pinning the crime on him.
The reason for that pressure to have Lyon locked up came principally from one judge, Benjamin Brannon – and it would take years to figure out why.
The actual bank robber was a local carpenter by the name of Isaac Davis – the nephew of Court of Common Pleas judge B. Brannon.
Lyon was eventually freed, and was paid $9,000 in compo by the bank, part of which he spent on an oil painting of himself, which still hangs in the Pennsylvania Academy of Fine Arts, nestled in between a bust of actor Kevin Bacon, and a framed corn chip that looks a bit like Elvis if you squint.
Luckily for you, you won’t have to spend months in jail on trumped up charges 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$2,503.12 (-0.65%)
Silver: US$28.85 (-1.76%)
Nickel (3mth): US$16,815/t (+0.23%)
Copper (3mth): US$9,214/t (+0.12%)
Zinc: US$2,897/t (+0.66%)
Oil (WTI): US$73.55 (-3.11%)
Oil (Brent): US$76.93 (-2.40%)
Iron 62pc Fe: US$100.90/t (-0.92%)
AUD/USD: 0.6764 (-0.35%)
Bitcoin: US$$58,035.08 (-1.62%)
WHAT GOT YOU TALKING
In this episode of the Unicorns Podcast, host Justin Kelly speaks with Principal Solicitor at law firm Safewill Legal, Isabelle Marcarian.
In this episode of the Unicorns Podcast, host Justin Kelly speaks with Principal Solicitor at law firm Safewill Legal, Isabelle Marcarian.https://t.co/IkkAa5rTbc
— Stockhead (@StockheadAU) August 30, 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 |
|---|---|---|---|---|---|
| MCM | Mc Mining Ltd | 0.215 | 72% | 3,768,942 | $51,751,669 |
| CMD | Cassius Mining Ltd | 0.007 | 40% | 5,623,549 | $2,710,022 |
| ATP | Atlas Pearls Ltd | 0.150 | 36% | 5,524,399 | $48,044,328 |
| EDE | Eden Inv Ltd | 0.002 | 33% | 288,063 | $6,162,314 |
| MCT | Metalicity Limited | 0.002 | 33% | 1,200,000 | $7,044,099 |
| VPR | Voltgroupltd | 0.002 | 33% | 7,152,945 | $16,074,312 |
| DEL | Delorean Corporation | 0.110 | 29% | 1,958,375 | $18,336,278 |
| AFL | Af Legal Group Ltd | 0.165 | 27% | 132,159 | $11,868,897 |
| 88E | 88 Energy Ltd | 0.003 | 25% | 14,946,945 | $57,867,624 |
| AYT | Austin Metals Ltd | 0.005 | 25% | 200,237 | $5,296,765 |
| JAV | Javelin Minerals Ltd | 0.003 | 25% | 3,051,005 | $8,553,692 |
| LML | Lincoln Minerals | 0.005 | 25% | 1,215,410 | $8,225,038 |
| RHT | Resonance Health | 0.065 | 25% | 922,361 | $23,238,432 |
| VFX | Visionflex Group Ltd | 0.005 | 25% | 223,000 | $11,671,298 |
| NIM | Nimyresourceslimited | 0.081 | 25% | 1,076,046 | $10,826,635 |
| ICI | Icandy Interactive | 0.027 | 23% | 897,089 | $29,586,501 |
| PHO | Phosco Ltd | 0.036 | 20% | 220,000 | $8,392,445 |
| CUL | Cullen Resources | 0.006 | 20% | 132,000 | $3,467,009 |
| LNR | Lanthanein Resources | 0.003 | 20% | 590,996 | $6,109,090 |
| NKL | Nickelxltd | 0.024 | 20% | 9,968,661 | $2,045,379 |
| XPN | Xpon Technologies | 0.012 | 20% | 518,075 | $3,624,415 |
| RLF | Rlfagtechltd | 0.056 | 19% | 98,927 | $10,978,085 |
| TGH | Terragen | 0.044 | 19% | 101,427 | $13,656,002 |
| ID8 | Identitii Limited | 0.013 | 18% | 708,444 | $6,615,758 |
| MDI | Middle Island Res | 0.013 | 18% | 1,029,542 | $2,402,408 |
Friday’s Small Cap Winners included:
It looks like minnow Cassius Mining (ASX:CMD) will keep its Chenene lithium project in Tanzania after AustChina (ASX:AUH) pulled out of a deal to acquire the project after its option period expired two days ago.
AUH cited that while drilling had completed, there were outstanding analytical results and had not hit one of the key criteria that required results show at least one 10m interval of 1% Li2O within the Dulu 1 pegmatite target. It asked for a 14-day extension to to allow for final assays to be received but was denied by the vendor and has subsequently pulled out of the deal.
AUH decided that it will not exercise its option to acquire the shares in Cassius Mining Limited (CMD’s subsidiary that owns Chenene) and has advised Cassius the the transaction agreements are terminated. CMD will keep the initial $100,000 upfront payment that was made when the binding agreement was made earlier this year.
Formerly Coal of Africa Limited, MC Mining (ASX:MCM), is a coal exploration, development and mining company operating in South Africa. Yesterday, MCM exited a trading halt after securing a US$90m deal for Chinese coal miner Kinetic Development Group Limited to take a 51% stake via a two tranche subscription agreement, which will back the development of its Makhado steelmaking coal project. That compares to an ASX market cap of just $84.87m currently, and MCM is up ~200% in just two trading days
Eden Innovations (ASX:EDE) says sales of its OptiBlend concrete products in the US have been growing, amounting to about $168,585. EdenCrete Pz7 is also now being used in several projects. For example, EdenCrete continues to be used in concrete repairs at Denver International Airport and other locations.
OptiBlend is known for its efficiency in replacing diesel with natural gas, lowering fuel costs and emissions. EdenCrete enhances concrete with carbon nanotubes, making it stronger and more durable.
Energy tech company Volt Power Group (ASX:VPR) has reported significant growth, with revenue increasing by 23% to $2.81 million and adjusted EBITDA rising by 30% to $0.90 million. Both Wescone and EcoQuip, subsidiaries of Volt, achieved record revenues and profits.
Resonance Health (ASX:RHT) has reported a full-year revenue of $8.6 million, which is a 95% increase from the previous year. Normalised EBITDA rose by 183% to $0.69 million, and its normalised operating EBITDA grew by 234% to $1.12 million, with a margin of 13%. The company also saw a significant boost in operating cash flow, which increased nearly tenfold to $1.39 million. Earnings per share improved to 0.04 cents.
Junior NickelX (ASX:NKL) has just bought the Penny Gold South project off Aurum Resources (ASX:AUE) for $120,000 in cash and shares plus extras, right next door to one of the highest-grade gold mines in production in WA. Spectrum Metals, which owned the Penny West project prior to being taken over by Ramelius Resources (ASX:RMS) in 2020 for ~$215m, reported outstanding exploration success at Penny North and at the southern end of the Penny West pit within deeper drill holes beneath cover. The explorer intends to utilise a similar exploration strategy to reinterpret all available data and to test targets at depth.
Nimy Resources (ASX:NIM) meanwhile was up on recent news.
Two more holes drilled by NIM in WA – beneath an initial RC hole that intersected 10m of massive sulphides at its Mons nickel project at the northern end of the Forrestania nickel belt – have revealed increasing widths of mineralisation.
Diamond drilling of the Masson prospect has extended the mineralisation downhole from 102m to 274.5m and remains open, where previous drilling established a mineralised north-south strike length of 160m, open in both directions. A final, deeper diamond hole of the program is expected to be completed early next week , designed to further test dip and depth of the sulphide and disseminated mineralisation.
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 |
|---|---|---|---|---|---|
| ZMM | Zimi Ltd | 0.009 | -31% | 631,343 | $1,646,641 |
| AUR | Auris Minerals Ltd | 0.005 | -29% | 4,290,631 | $3,336,382 |
| MOZ | Mosaic Brands Ltd | 0.033 | -28% | 2,167,249 | $8,211,296 |
| IVX | Invion Ltd | 0.003 | -25% | 191,771 | $26,551,462 |
| YAR | Yari Minerals Ltd | 0.003 | -25% | 75,816 | $1,929,431 |
| AAU | Antilles Gold Ltd | 0.004 | -20% | 521,900 | $7,307,139 |
| BLZ | Blaze Minerals Ltd | 0.004 | -20% | 1,043,351 | $3,142,791 |
| GGE | Grand Gulf Energy | 0.004 | -20% | 630,005 | $10,476,235 |
| IBG | Ironbark Zinc Ltd | 0.002 | -20% | 183,333 | $4,584,120 |
| RGL | Riversgold | 0.004 | -20% | 3,545,470 | $6,637,313 |
| RIL | Redivium Limited | 0.004 | -20% | 258,609 | $13,654,274 |
| TYX | Tyranna Res Ltd | 0.004 | -20% | 50,000 | $16,439,627 |
| WEL | Winchester Energy | 0.002 | -20% | 13,682,000 | $3,407,547 |
| HPR | High Peak Royalties | 0.060 | -19% | 25,015 | $15,396,419 |
| BCC | Beam Communications | 0.140 | -18% | 2,000 | $14,691,727 |
| MKT | The Market Limited | 0.150 | -17% | 419,222 | $57,775,065 |
| MXO | Motio Ltd | 0.015 | -17% | 597,648 | $4,827,570 |
| PNT | Panthermetalsltd | 0.025 | -17% | 176,936 | $2,614,985 |
| STM | Sunstone Metals Ltd | 0.008 | -17% | 4,711,282 | $34,667,133 |
| AUH | Austchina Holdings | 0.003 | -17% | 8,175,966 | $6,301,151 |
| CZN | Corazon Ltd | 0.005 | -17% | 2,866,904 | $4,007,434 |
| GCM | Green Critical Min | 0.003 | -17% | 2,720 | $4,405,628 |
| PUR | Pursuit Minerals | 0.003 | -17% | 4,305,975 | $10,906,200 |
TRADING HALTS
Star Entertainment Group (ASX:SGR) – pending the release of the NSW Independent Casino Commission report into Sydney’s Star Casino.
Intelligent Monitoring Group (ASX:IMB) – pending the release of its Appendix 4E and Annual Report for the year ended 30 June 2024.
Echo IQ (ASX:EIQ) – pending the release of results from clinical studies.
Strike Energy (ASX:STX) – pending an announcement to the market in relation to the Erregulla Deep 1 well drilling results.
Meeka Metals (ASX:MEK) – pending the release of an announcement regarding a capital raising.
Fletcher Building (ASX:FBU) – pending an announcement from the WA Government in relation to complaints received in respect of the Iplex Australia Pro-fit pipe product.
At Stockhead, we tell it like it is. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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