Sponsored by Saxo
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.

 

COMMODITY/FOREX/CRYPTO MARKET PRICES

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%)

 

WHAT GOT YOU TALKING

Smiles all round in the world of lithium, apparently… especially if, like this guy, your teeth are made of lithium too.

 

 

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 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
Wordpress Table Plugin

 

Yesterday’s Small Cap Winners included:

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.

 

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 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
Wordpress Table Plugin

 

TRADING HALTS

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.

 

Featured Companies

You might be interested in