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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 Wednesday, October 17, 2024 – an important date in the history of excellent real estate deals.
That’s because it was on this day in 1662 that Charles II, King of England, sold a little place called Dunkirk to the French, for the princely sum of 2.5 million livres – roughly equivalent to 18,750 English pounds, if the internet is telling me the truth this afternoon.
A quick back-of-the-envelope mathematics says that those almost 19,000 quid equate to £3,308,000 in today’s money, which – if you’ve been to Dunkirk – you’ll probably recognise as pretty bloody generous.
The sale to France did, however, come in handy about 280 years later, when loads and loads of Allied soldiers seemed destined to perish there at the hands of bloodthirsty Nazis, only to be rescued by filmmaker Christopher Nolan, with help from “Mad” Max Rockatansky, who apparently flew a Spitfire before becoming a post-apocayptic Ford driver in outback New South Wales.
Dunkirk (the movie, not the place) is hellishly long, ponderous and mostly very, very boring – so here’s all the good bits with the Spitfire pilot condensed into a single “I watched this on the toilet” short film.
You are welcome.
Luckily for you, you won’t have to fly a really old plane into the English Channel 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$2,656.99/oz (+0.91%)
Silver: US$31.55/oz (+1.09%)
Iron Ore: US$105.95/t (+1.49%)
Nickel (3mth): US$17,612/t (+2.71%)
Copper (3mth): US$9,596/t (+0.94%)
Zinc: US$3,108/t (+3.03%)
Oil (WTI): US$75.50/bbl (-0.07%)
Oil (Brent): US$78.79/bbl (-0.64%)
AUD/USD: 0.6751 (+0.16%)
Bitcoin: US$62,638.85 (+3.37%)
WHAT GOT YOU TALKING
Guy Le Page has a thing or two to say about Astral Resources, and a current round of exploration looking to substantially build up its Kalgoorlie-adjacent gold resource base.
Guy Le Page digs into Astral Resources and a current round of exploration looking to substantially build up its Kalgoorlie-adjacent gold resource base. https://t.co/TWLWWSRGgv #ASX $AAR @AstralRes_AAR
— Stockhead (@StockheadAU) October 15, 2024
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:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| RML | Resolution Minerals | 0.002 | 100% | $700,000 | $1,610,022 |
| MKG | Mako Gold | 0.016 | 63% | $26,994,459 | $9,372,881 |
| TD1 | Tali Digital Limited | 0.002 | 50% | $504,253 | $3,295,156 |
| POS | Poseidon Nick Ltd | 0.006 | 38% | $33,113,636 | $16,815,502 |
| NYR | Nyrada Inc. | 0.135 | 36% | $6,250,549 | $18,038,661 |
| CTN | Catalina Resources | 0.004 | 33% | $83,204 | $3,715,461 |
| MRQ | Mrg Metals Limited | 0.004 | 33% | $1,054,653 | $8,134,556 |
| RIL | Redivium Limited | 0.004 | 33% | $47,706 | $8,240,564 |
| RLG | Roolife Group Ltd | 0.004 | 33% | $1,350,876 | $3,530,989 |
| TX3 | Trinex Minerals Ltd | 0.002 | 33% | $150,000 | $2,742,978 |
| RFA | Rare Foods Australia | 0.017 | 31% | $51,441 | $3,535,782 |
| 88E | 88 Energy Ltd | 0.003 | 25% | $6,340,211 | $57,867,624 |
| HFY | Hubify Ltd | 0.010 | 25% | $992,649 | $4,089,090 |
| OAR | OAR Resources Ltd | 0.003 | 25% | $2,143,390 | $6,601,669 |
| T3D | 333D Limited | 0.010 | 25% | $47,086 | $955,559 |
| PEC | Perpetual Res Ltd | 0.016 | 23% | $17,527,268 | $9,568,395 |
| PV1 | Provaris Energy Ltd | 0.029 | 21% | $2,183,802 | $15,143,216 |
| CDX | Cardiex Limited | 0.072 | 20% | $865,008 | $17,650,474 |
| TG6 | Tgmetalslimited | 0.180 | 20% | $328,067 | $10,666,131 |
| TGH | Terragen | 0.060 | 20% | $141,664 | $18,454,056 |
| MEL | Metgasco Ltd | 0.006 | 20% | $3,655,833 | $7,287,934 |
| PUR | Pursuit Minerals | 0.003 | 20% | $5,914,253 | $9,088,500 |
| SPX | Spenda Limited | 0.013 | 18% | $10,651,062 | $50,639,555 |
Yesterday’s Small Cap Winners included:
Drug discovery company Nyrada (ASX:NYR) jumped 36% after the company moved closer to starting a phase I human trial for its drug NYR-BI03, aimed at treating strokes and traumatic brain injuries. Nyrada completed safety studies in rats, showing no harm during a 14-day toxicology assessment. The next step is to obtain ethics approval, with the trial expected to begin this quarter. NYR-BI03 works by blocking certain channels that affect heart function and has shown promising preclinical results, including a significant neuroprotective effect in stroke studies. Investors are eagerly awaiting human trial results, as the stroke treatment sector has been a growing area for ASX-listed biotechs.
Now read Tim Boreham’s Rats – and investors – are happy as Nyrada forges ahead with its first human brain injury trial
GTI Energy (ASX:GTR) was up after releasing an investor presentation this morning, focused on its Lo Herma uranium play in Wyoming, which the company says is currently “the only “junior”in Wyoming with compliant ISR uranium resources”, with current drilling underway aimed at a providing a resource upgrade and scoping study. Currently, the company says it has an inferred resource of 7.4 Mlbs so far in Wyoming, and at an $80/lb contract price, that makes Wyoming ISR projects “very attractive”.
TMK Energy (ASX:TMK) was up after announcing a three day extension to the closing date of Entitlement Issue (Offer), which will now close at 5.00pm (AWST) Friday 25 October 2024 to allow additional time for shareholder participation. The company also notes that directors and management have agreed to a 50% reduction in cash fees for the next 6 months, with the company aiming to reduce costs by $250,000 through the initiative, as it moves towards a commercial outcome from its 100% owned Gurvantes XXXV Coal Seam Gas Project in the South Gobi Desert of Mongolia.
Mako Gold (ASX:MKG) was up quite rapidly ton news the company has entered into a Bid Implementation Agreement with Aurum Resources (ASX:AUE), for “an agreed merger pursuant to which Aurum proposes to acquire 100% of the issued shares in Mako and 100% of two classes of unlisted options by way of an off-market takeover bid”.
The deal, as it stands, is for 1 Aurum share for every 25.1 Mako shares, representing an offer price of $0.018 per Mako share, along with 1 Aurum share for every 170 Class A Options, and 1 Aurum share for every 248 Class B Options, with the merger aimed at creating “an emerging exploration and development gold business in West Africa, with cash of over A$20 million1 to advance the flagship Napié and Boundiali Projects in northern Côte d’Ivoire”.
Energy Resources of Australia (ASX:ERA) was up on news that the ASX Takeover Panel had knocked back requests from two ERA shareholders – Zentree Investments and WA stockbroker Willy Packer’s Packer and Co. – which had complained that ERA’s 19.87 for 1 renounceable entitlement offer would enable Rio Tinto (ASX:RIO), which owns 86.3% of ERA, to take its stake beyond 90% and compulsorily acquire the rest of its stock at just 0.2c a pop. The entitlement offer has resumed, with an updated Ex-Date set for Friday, 18 October.
TG Metals (ASX:TG6) said its lithium deposit, Burmeister, has produced excellent lithium concentrate using simple processing methods. The spodumene concentrate achieved a grade of up to 6.31% Li2O. By using ore sorting technology, the company improved the lithium content by 15-39% and significantly reduced iron levels. Initial tests also indicate that it can produce a high-grade, low-impurity concentrate. Ongoing tests will continue to refine the processing methods, aiming for efficient and cost-effective lithium extraction from the Burmeister deposit in Western Australia.
MTM Critical Metals (ASX:MTM) has successfully raised $8 million from investors to speed up the commercialisation of its Flash Joule Heating (FJH) technology. This funding will help develop a demonstration plant capable of processing one tonne per day, which is a key step towards commercial operations. The company plans to use this technology to extract valuable metals like gallium, indium, gold, copper, and lithium from waste materials, making the process more sustainable and efficient. Collaborations with industry partners are already in progress, aimed at boosting the supply of critical minerals.
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:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| SIS | Simble Solutions | 0.003 | -25% | 1,301,581 | $3,013,803 |
| DUB | Dubber Corp Ltd | 0.019 | -21% | 7,422,903 | $22,226,157 |
| AHN | Athena Resources | 0.004 | -20% | 3,080 | $5,352,338 |
| AKN | Auking Mining Ltd | 0.004 | -20% | 2,000,000 | $1,762,851 |
| RC1 | Redcastle Resources | 0.008 | -20% | 8,000 | $4,103,258 |
| TMK | TMK Energy Limited | 0.002 | -20% | 10,471,610 | $18,979,030 |
| TON | Triton Min Ltd | 0.010 | -17% | 503,520 | $18,820,665 |
| AL8 | Alderan Resource Ltd | 0.003 | -14% | 54,545 | $5,499,371 |
| AUR | Auris Minerals Ltd | 0.006 | -14% | 50,000 | $3,336,382 |
| EPM | Eclipse Metals | 0.006 | -14% | 1,644,216 | $15,755,989 |
| M2R | Miramar | 0.006 | -14% | 3,634,662 | $2,777,763 |
| NOR | Norwood Systems Ltd. | 0.030 | -14% | 192,640 | $16,665,008 |
| PIL | Peppermint Inv Ltd | 0.006 | -14% | 1,000,000 | $14,849,508 |
| SOM | SomnoMed Limited | 0.320 | -14% | 269,107 | $79,960,054 |
| MM8 | Medallion Metals. | 0.084 | -13% | 766,016 | $39,575,520 |
| 1AE | Auroraenergymetals | 0.039 | -13% | 246,936 | $8,057,868 |
| EQR | Eq Resources Limited | 0.046 | -13% | 2,448,508 | $118,562,482 |
| FTZ | Fertoz Ltd | 0.020 | -13% | 105,136 | $6,818,592 |
| NVU | Nanoveu Limited | 0.040 | -13% | 7,233,575 | $23,226,444 |
| PHO | Phosco Ltd | 0.040 | -13% | 143,718 | $12,868,416 |
| BCB | Bowen Coal Limited | 0.007 | -13% | 1,771,658 | $23,443,918 |
TRADING HALTS
Mayur Resources (ASX:MRL) – pending an announcement in relation to a Strategic Alliance arrangement.
Adisyn (ASX:AI1) – pending the release of an announcement in relation to a response to an ASX price query.
Caravel Minerals (ASX:CVV) – for the purpose of planning and executing a capital raising.
Resource Base (ASX:RBX) – pending an announcement by the Company in respect of a capital raising.
C29 Metals (ASX:C29) – to enable the company to finalise and execute an equity raise.
Rimfire Pacific Mining (ASX:RIM) – pending an announcement to the market regarding an injunction hearing relating to the termination of the Fifield Project Earn-in dispute.
Turaco Gold (ASX:TCG) – pending an announcement about a capital raising.
DUG Technology (ASX:DUG) – requested in connection with a proposed capital raising.
Dragon Mountain Gold (ASX:DMG) – pending an announcement by the Company in relation to a capital raise.
Lowell Resources Fund (ASX:LRT) – pending the release of a placement announcement.
Sierra Nevada Gold (ASX:SNX) – pending an announcement to the market in relation to a capital raising.
Percheron Therapeutics (ASX:PER) – pending an announcement in relation to a capital raising.
AnteoTech (ASX:ADO) – pending an announcement concerning the counterparty in its announcement on the 15 October 2024, for the First Commercial Order for Ultranode battery anode.
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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