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Good morning everyone, and welcome to September 10, 2024 – an important date in the history of inappropriately trying to make kids get married.

That’s because it was on this day in 1547 that England tried to enforce the Treaty of Greenwich, which included a bizarre play by Henry VIII to have his 10-year-old son Edward marry the then 5-year-old Mary Queen of Scots (who had already, by that stage, been nominally Queen of Scotland for her entire life).

It was an attempt to unify the English and Scottish thrones, but the Scots – who were vastly more fond of the French at that stage – had other ideas.

So the forced marriage of two small children never went ahead, and the spat between the English and Scotland continued – to the point where there are still people to this day who have never forgiven each other, from either side of the fight.

Luckily for you, you won’t have to go through with a deeply concerning marriage to a child 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$2,497.29 (-0.01%)

Silver: US$27.99 (+0.21%)

Nickel (3mth): US$15,893/t (-1.15%)

Copper (3mth): US$9,012/t (+0.38%)

Zinc: US$2,710/t (-0.28%)

Oil (WTI): US$68.56 (+1.32%)

Oil (Brent): US$71.89 (+1.16%)

Iron 62pc Fe: US$90.45/t (-1.36%)

AUD/USD: 0.6671 (-0.02%)

Bitcoin: US$54,844.56 (-0.04%)

 

WHAT GOT YOU TALKING

Things are really kicking off in NSW’s Lachlan Fold Belt, so here’s Cam Drummond with the skinny on the M&A action.

 

 

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:

Adacel Technologies (ASX:ADA), which is an industry leader in advanced Air Traffic Management (ATM) and Air Traffic Control (ATC) simulation and training solutions, has advised the market that a hiccup with the bid submission process with the Federal Aviation Administration has been resolved in its favour, and that the five-year contract it announced in December, worth US$59 million, is set to go forward.

It’s a continuation of the contracts that have seen Adacel and the FAA continuing to work together for around 20 years, providing Tower Simulation system support for training air traffic controllers.

Larvotto Resources (ASX: LRV) surged after Canadian firm 1832 Asset Management bought 16.5 million shares since August 19, boosting its stake to 5.31% Meanwhile, Trafigura’s Urion Holdings reduced its stake from 15% to 5.46%. Larvotto is also ramping up exploration at its Hillgrove project, with a new drilling program underway and a recent PFS estimating a $73 million restart cost.

Larvotto isn’t the only explorer riding high on past glories, with last week’s leading stonker Osmond Resources (ASX:OSM) continuing its upward momentum since an announcement on Friday. The background there was the acquisition of an 80% stake in Iberian Critical Minerals, holding of the Orion EU project in Spain, which contains high grade samples of rutile, zircon and rare earths.

Those all screen as critical minerals, the sort of thing the EU needs to develop onshore thanks to its extreme reliance on imports, largely from China.

The EU wants to extract 10% of its critical minerals and process 40% of its consumption onshore, with permitting timeframes set at a maximum of 27 months for extraction projects under the European Critical Raw Materials Act, which came into force on May 23 this year.

But it currently produces none of its own titanium, light or heavy rare earths and less than 20% of its zircon. Located halfway between Seville and Madrid, the award of the ‘Province Bulletin’ permit is due in Q4 this year.

Macro Metals (ASX:M4M) shares lifted  after announcing it had received the exploration licence for its Goldsworthy East project in the Pilbara.A programme of works application is in with WA’s Mines Department, with M4M aiming to complete a minimum of 30 holes in its maiden campaign at 50m spacing to an average depth of 200m.

All up between 6000m and 8000m will be punched into the red dirt, proximal to recently discovered hematite outcrops of a width of 220m and strike of 450 which remains open to the west.

Rock chips delivering significant results have graded between 58% and 65% Fe, with drilling to begin on September 25 subject to the POW’s approval timeline.

Invion (ASX:IVX) was up nicely on Monday morning, but the only news from the company was some housekeeping notices for the ASX.

 

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 

Steadfast (ASX:SDF) – pending an announcement to the ASX in connection with an ABC article alleging a kickback scheme that was published today.

NextEd Group (ASX:NXD) – pending an announcement  in relation to a notification received over the weekend from the Department of Employment and Workplace Relations advising of an indicative limit for new overseas student commencements for calendar 2025.

Auking Mining (ASX:AKN) – pending an announcement by the Company in relation to an announcement of an acquisition and placement.

Nex Metals Exploration (ASX:NME) – pending an announcement regarding a capital raising.

Memphasys (ASX:MEM) – pending an announcement regarding a proposed capital raising.

 

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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