"I've found your problem – there's an ancient Scottish dude jammed in there pretty good." Pic via Getty Images.
News
Good morning everyone, and welcome to 23 February, 2024 – an important day in the world of Big Business, as it was on this day in 1782 that perenially grumpy Scotsman James Watt lodged the patent for his rotary-motion steam engine, and kick-started the industrial revolution that would end with a dead planet and billions of people killed.
Prior to this invention, steam engines would only produce energy that could be put to use in a straight line, which was hell for the people who were tasked with figuring out how much power each one could produce.
Getting the linear motion engines to run wasn’t the problem – it was getting all the horses they needed to calculate the horsepower to jump up and down at the same time that was the issue.
But, luckily, our boy James had a solution for that, too – and when asked how powerful his new rotary engine was, he loudly exclaimed “7,534 me’s”, before doing 20 brisk push-ups with his secretary sitting on his back and barely even breaking a sweat.
What a bright spark he was.
For your perusal on the site this morning, we have news from the World of Fine Wine, Eddy telling you how to understand ex-divvies, and a nice offset to that with a great piece on how to burn things in a green-friendly manner.
And, as always there’s words and numbers down below for you to scour now and then quote at your barista before the market opens later on this morning.
Gold: US$2,023.93 (-0.05%)
Silver: US$22.71 (-0.69%)
Nickel (3mth): US$16,930/t (+3.50%)
Copper (3mth): US$8,542/t (+0.49%)
Oil (WTI): US$78.27 (+0.46%)
Oil (Brent): US$83.36 (+0.40%)
Iron 62pc Fe: US$127.82/t (+0.41%)
AUD/USD: 0.6557 (+0.1%)
Bitcoin: US$51,628 (+0.4%)
Smiles all round in the world of lithium, apparently… especially if, like this guy, your teeth are made of lithium too.
Here’s the #ASX #lithium form guide. https://t.co/eTYXtaLhwY
— Stockhead (@StockheadAU) February 22, 2024
Here are the best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| IEC | Intra Energy Corp | 0.003 | 50% | 5,145,714 | $3,381,563 |
| TRI | Trivarx Ltd | 0.031 | 41% | 5,079,485 | $7,442,131 |
| MSI | Multistack International | 0.007 | 40% | 160,611 | $681,520 |
| SRZ | Stellar Resources | 0.009 | 29% | 3,706,595 | $8,043,185 |
| EE1 | Earths Energy Ltd | 0.019 | 27% | 15,356,821 | $7,949,463 |
| BRN | Brainchip Ltd | 0.43 | 26% | 42,513,174 | $613,976,993 |
| PAA | PharmAust Limited | 0.3 | 25% | 3,216,435 | $92,756,771 |
| ADG | Adelong Gold Limited | 0.005 | 25% | 1,896,302 | $2,798,623 |
| CCO | The Calmer Co Int | 0.005 | 25% | 1,563,328 | $4,302,342 |
| CTN | Catalina Resources | 0.005 | 25% | 536,088 | $4,953,948 |
| PUR | Pursuit Minerals | 0.005 | 25% | 301,743 | $11,775,886 |
| RMX | Red Mount Min Ltd | 0.0025 | 25% | 3,962,000 | $5,347,152 |
| WML | Woomera Mining Ltd | 0.005 | 25% | 1,298,114 | $4,872,556 |
| IIQ | Inoviq Ltd | 0.82 | 24% | 847,739 | $60,732,343 |
| LBT | LBT Innovations | 0.016 | 23% | 5,821,607 | $16,390,609 |
| FBR | FBR Ltd | 0.027 | 23% | 11,417,948 | $97,708,599 |
| 4DS | 4Ds Memory Limited | 0.12 | 22% | 24,688,955 | $172,757,822 |
| RKT | Rocketdna Ltd. | 0.011 | 22% | 31,473,908 | $5,905,034 |
| OEC | Orbital Corp Limited | 0.105 | 22% | 671,424 | $12,539,379 |
| FOS | FOS Capital Ltd | 0.23 | 21% | 137,690 | $10,223,166 |
| MAG | Magmatic Resrce Ltd | 0.03 | 20% | 178,288 | $7,642,320 |
| 88E | 88 Energy Ltd | 0.006 | 20% | 118,431,568 | $123,627,103 |
| DOU | Douugh Limited | 0.006 | 20% | 326,941 | $5,410,345 |
| FFF | Forbidden Foods | 0.012 | 20% | 114,129 | $2,018,605 |
It was all medtech talk here on the small end of the ASX on Thursday. First up we had a strong surge for PharmAust (ASX:PAA) which said it has engaged “globally renowned experts” in MND/ALS and rare neurodegenerative diseases to form a scientific advisory board (SAB) for the next stage of development of monepantel (MPL).
Monepantel is PAA’s lead candidate for the treatment of Motor Neurone Disease (MND)/Amyotrophic Lateral Sclerosis (ALS) and pipeline expansion activities in additional neurodegenerative diseases.
Still doing well was the other local medtech LBT Innovations (ASX:LBT) with the microbiology lab services and tech provider delivered its first homemade environmental monitoring tech (an APAS Independence instrument with APAS PharmaQC software) to a Thermo Fisher facility.
It’s the maiden recognised sale of the technology, according to CEO & managing director Brent Barnes, who says the delivery is six months ahead of schedule and LBT is primed to cash in on “the positive market interest” from pharmaceutical customers following initial market development activities completed 2H23.
Barnes says LBT has now established a “pipeline of potential early adopters” who’ve shown interest in the LBT tech which aims “to provide efficiencies and improve traceability within environmental monitoring workflows.”
Meanwhile, Way2VAT (ASX:W2V), was still sticking it to the man, up double digits again.
That’s made for a good five days on the bourse, since the riches began pouring in after last Friday’s launch of a new AI-driven automatic auditing system.
Other early movers with news out included 88 Energy (ASX:88E) which said its 20% working interest has been successfully transferred to the company as part of stage one of a three-stage farm-in deal for its Namibian petroleum exploration licence.
As well as Insignia Financial (ASX:IFL) which dropped a 1H statutory (NPAT) loss of $49.9m, which IFL says is down to strategic initiatives and remediation costs. But shareholders who came for the earnings, stayed for the upgraded outlook.
The wealth manager said in its ASX announcement that FY24 group net revenue margin is expected to be between 45.5-46 bps (previously 44.8-45.8 bps) while EBITA margin has increased as well, while in-year transformation costs and benefits remain on track.
Here are the worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| AOA | Ausmon Resorces | 0.002 | -33% | 696,242.00 | $3,176,998 |
| GES | Genesis Resources | 0.004 | -33% | 164,207.00 | $4,697,048 |
| SYA | Sayona Mining Ltd | 0.046 | -28% | 367,922,628.00 | $658,770,945 |
| EXL | Elixinol Wellness | 0.006 | -25% | 3,661,613.00 | $5,062,973 |
| E33 | East 33 Limited | 0.018 | -22% | 289,600.00 | $12,353,040 |
| ICU | Investor Centre Ltd | 0.022 | -21% | 2,147,121.00 | $8,489,545 |
| MAF | MA Financial Group | 4.47 | -20% | 5,295,602.00 | $1,002,224,778 |
| LVE | Love Group Global | 0.1 | -20% | 41,666.00 | $5,066,771 |
| KGD | Kula Gold Limited | 0.008 | -20% | 1,909,730.00 | $4,232,119 |
| NES | Nelson Resources | 0.004 | -20% | 1,000,000.00 | $3,067,972 |
| SIT | Site Group Int Ltd | 0.002 | -20% | 186,525.00 | $6,506,226 |
| TMK | TMK Energy Limited | 0.004 | -20% | 443,787.00 | $30,612,897 |
| IXU | Ixup Limited | 0.028 | -18% | 71,904.00 | $36,976,210 |
| ADD | Adavale Resource Ltd | 0.005 | -17% | 11,661,500.00 | $6,067,033 |
| ASR | Asra Minerals Ltd | 0.005 | -17% | 640,409.00 | $9,918,974 |
| AYT | Austin Metals Ltd | 0.005 | -17% | 288,500.00 | $7,711,148 |
| BNL | Blue Star Helium Ltd | 0.01 | -17% | 7,818,142.00 | $23,307,183 |
| TML | Timah Resources Ltd | 0.042 | -16% | 2,917.00 | $4,437,988 |
| HPC | The Hydration Company | 0.016 | -16% | 371,956.00 | $5,037,694 |
| TRS | The Reject Shop | 4.54 | -16% | 106,476.00 | $206,489,333 |
| MTC | Metalstech Ltd | 0.165 | -15% | 1,014,184.00 | $36,846,145 |
| OCT | Octava Minerals | 0.05 | -15% | 185,000.00 | $2,643,938 |
| SRT | Strata Investment | 0.145 | -15% | 49,229.00 | $28,802,008 |
| AVE | Avecho Biotech Ltd | 0.003 | -14% | 862,645.00 | $11,092,540 |
| MIO | Macarthur Minerals | 0.12 | -14% | 18,712.00 | $23,275,488 |
Hillgrove Resources (ASX:HGO) – pending the announcement by Hillgrove of the outcome of a proposed capital raising.
Lifestyle Communities (ASX:LIC) – pending an announcement in connection with a fully underwritten pro rata accelerated non-renounceable entitlement offer.
Alterity Therapeutics (ASX:ATH) – pending an announcement in relation to a capital raise.
Australian Mines (ASX:AUZ) – pending the release of an announcement concerning a capital raising.
Inoviq (ASX:IIQ) – pending an announcement in relation to the results of its Breast Cancer Monitoring Study.
Island Pharmaceuticals (ASX:ILA) – pending an announcement to ASX regarding a capital raising.
Western Yilgarn (ASX:WYX) – pending an announcement in connection with a proposed capital raising.
Siren Gold (ASX:SNG) – pending an announcement in connection with a proposed capital raising.
Minbos Resources (ASX:MNB) – pending the release of an announcement in relation to a capital raising.
HeraMED (ASX:HMD) – pending an announcement to the market regarding a material new contract.
FirstWave Cloud Tech (ASX:FCT) – pending an announcement of a proposed material financing transaction that is under the final stages of review.
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Health & Biotech
