Rise and Shine: Everything you need to know before the ASX opens

Good morning everyone, and welcome to October 28, 2024 – an important date in the history of believing in the impossible.

That’s because it was on this day in 1856 that, under orders from Napoleon III, a stage magician called Jean Eugene Robert-Houdin was sent to Algeria in a bid to put paid to the antics of the Algerian Marabouts.

Word on the street was that the Marabouts were “using magic” to stir up dissent against the ruling French, and so – naturally – the only antidote to this supposed magic was to send France’s best magician to make them look silly.

I’m not 100% certain how Robert-Houdin’s signature trick – making an orange tree grow rapidly in front of a live audience – was meant to convince anyone of anything at all… it’s the equivalent of finding out that Ukraine was fighting the Russians, and sending David Blaine to glower malevolently and make weird, indecipherable faces at the Ukrainians to make them lay down their arms.

Luckily, you won’t have to pull a rabbit out of your hat (or any other orifices) 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$2,746.86/oz (+0.57%)

Silver: US$33.68/oz (-0.15%)

Iron Ore: US$101.55/t (+2.27%)

Nickel (3mth): US$15,918/t (-2.34%)

Copper (3mth): US$9,384/t +0.19%)

Zinc: US$3,077/t (-4.92%)

Oil (WTI): US$71.70/bbl (+1.82%)

Oil (Brent): US$75.90/bbl (+1.92%)

AUD/USD: 0.6606 (-1.04%)

Bitcoin: US$66,844.57 (+0.24%)

WHAT GOT YOU TALKING

Gold equities just won’t sit still for longer than a few minutes at a time, as the price of the precious metal keeps rising to record highs.

ASX gold equities broke through a four year glass ceiling this week as bullion prices hit record highs … again. https://t.co/5xgiHH84Tp

— Stockhead (@StockheadAU) October 25, 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
EWC	Energy World Corpor.	0.025	67%	1,402,772	$46,183,819
VAR	Variscan Mines Ltd	0.019	58%	543,352	$5,316,004
AVM	Advance Metals Ltd	0.042	50%	24,829,048	$4,717,977
ADD	Adavale Resource Ltd	0.003	50%	3,771,683	$2,447,531
ERA	Energy Resources	0.003	50%	34,250,611	$44,296,598
SI6	SI6 Metals Limited	0.002	50%	500,000	$2,368,859
WML	Woomera Mining Ltd	0.003	50%	34,668	$4,110,149
RC1	Redcastle Resources	0.014	40%	34,964,602	$4,915,480
EFE	Eastern Resources	0.004	33%	775,000	$3,725,839
IEC	Intra Energy Corp	0.002	33%	33,972,563	$2,536,172
VPR	Voltgroupltd	0.002	33%	407,822	$16,074,312
FFF	Forbidden Foods	0.009	29%	732,857	$4,005,564
BEL	Bentley Capital Ltd	0.015	25%	138,759	$913,535
88E	88 Energy Ltd	0.003	25%	5,297,172	$57,867,624
WNX	Wellnex Life Ltd	0.885	21%	42,407	$20,468,288
FGR	First Graphene Ltd	0.046	21%	537,203	$25,449,626
G88	Golden Mile Res Ltd	0.018	20%	5,296,316	$6,168,343
ICG	Inca Minerals Ltd	0.006	20%	216,600	$4,078,113
PGM	Platina Resources	0.025	19%	901,208	$13,086,787
AGC	AGC Ltd	0.220	19%	1,278,094	$47,470,486
BDG	Black Dragon Gold	0.038	19%	1,370,631	$8,560,566
ICR	Intelicare Holdings	0.013	18%	1,000	$5,348,070
SES	Secos Group Ltd	0.035	17%	672,142	$17,898,301

Friday’s Small Cap Winners included:

Advance Metals (ASX:AVM) has entered into a binding sale agreement with Golden Minerals Company (NYSE: AUMN, TSX: AUMN), to acquire a 100% interest in the Yoquivo Silver Project located in northwest Chihuahua State, Mexico, which boasts 17.23M oz silver equivalent (AgEq2) @ 570 g/t AgEq, with the purchase coming at a time when silver prices are at record highs.

Earlier, Godolphin Resources (ASX:GRL) was up on news that the company has reached a major milestone, after process development testing produced the first Mixed Rare Earth Carbonate (MREC) from its Narraburra REE project. Godolphon reports that the quality of the MREC – an intermediate product from rare earth mining and processing which can be sold to specialist refining companies for processing into rare earth metals and oxides – is “excellent”, and indicates a high value product with significant concentrations of Tb and Dy with low impurities.

Battery materials and technology company Talga Group (ASX:TLG) was also up early, on news that it has been selected for an EU Innovation Fund grant for its commercial scale Luleå Anode Refinery, part of its integrated Vittangi Anode Project, awarded by the European Commission. Talga successfully applied for a $115 million grant under the IF23 call, and is one of 85 entities out of 337 applicants to share in a total of $7.8 billion in grants under the EU Innovation Fund.

Just out of the charts but rising with news was Golden State Mining (ASX:GSM) which was rising after the company released a quarterly report covering how things are progressing at its Yule project, and targeting work across its other gold and lithium focused projects.

Similarly, Buxton Resources (ASX:BUX) was up after company CEO Martin Moloney sent out a refreshingly frank and simple letter to the company’s 1,413 shareholders. It’s all good news – and if you’re looking for a light read when you’re done here, defo check it out, if only because it’s just so gosh-darn friendly.

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
CML	Connected Minerals	0.230	-36%	298,567	$14,888,956
EEL	Enrg Elements Ltd	0.002	-33%	28,726,008	$3,135,048
LNU	Linius Tech Limited	0.002	-25%	100,000	$11,730,481
PAB	Patrys Limited	0.003	-25%	25,000	$8,229,789
SMM	Somerset Minerals	0.003	-25%	37,500	$4,123,995
M4M	Macro Metals Limited	0.009	-25%	44,242,123	$43,477,283
AKN	Auking Mining Ltd	0.004	-20%	15,143	$1,835,323
C7A	Clara Resources	0.008	-20%	500,029	$2,501,390
EVR	Ev Resources Ltd	0.004	-20%	1,311,390	$6,981,357
GGE	Grand Gulf Energy	0.004	-20%	2,569,410	$12,251,936
IVX	Invion Ltd	0.002	-20%	3,189,346	$17,041,479
LPD	Lepidico Ltd	0.002	-20%	371,328	$21,472,812
NES	Nelson Resources.	0.002	-20%	852,000	$1,763,152
OMA	Omegaoilgaslimited	0.250	-17%	1,068,232	$85,934,087
POS	Poseidon Nick Ltd	0.005	-17%	31,091,235	$25,223,253
PUA	Peak Minerals Ltd	0.005	-17%	28,009,041	$14,982,662
PUR	Pursuit Minerals	0.003	-17%	1,030,003	$10,906,200
AZY	Antipa Minerals Ltd	0.027	-16%	36,691,173	$152,845,716
L1M	Lightning Minerals	0.054	-16%	179,683	$6,124,118
QEM	QEM Limited	0.056	-15%	506,258	$9,991,853
1AI	Algorae Pharma	0.006	-14%	3,520,512	$11,811,763

TRADING HALTS

Green Critical Minerals (ASX:GCM) – pending the release of an announcement regarding an acquisition.

RBR Group (ASX:RBR) – pending the release of an announcement regarding a capital raising.

Coda Minerals (ASX:COD) – pending the release of an announcement in relation to the completion of the entitlement offer and an associated capital raising.

Recharge Metals (ASX:REC) – pending an announcement relating to a project acquisition and capital raising.

Black Cat Syndicate (ASX:BC8) – pending the release of an announcement regarding a proposed capital raising.

Indiana Resources (ASX:IDA) – pending an announcement in relation to the expected receipt of US$25 million as the second instalment of settlement funds from the United Republic of Tanzania.

Atlantic Lithium (ASX:A11) – 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.