To show his dedication to the memory of Galileo, village bozo OId Frank stared at the sun for an hour every morning, until he went blind. What an idiot. Pic via Getty Images.
Rise and Shine: Everything you need to know before the ASX opens
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Good morning everyone, and welcome to 26 February, 2024 – an important day in the world of science because it was on this day in 1616 that the Roman Inquisition – which everyone knew about well in advance – informed a chap named Galileo Galilei that his theory of heliocentrism was making God very angry, and must be abandoned.
The other option for Galileo was very unpleasant – the Powers That Be said that God wanted him thrown in prison for heresy, for suggesting that the Earth revolved around the sun, which was obvious lunacy because everyone knew that the sun went round the Earth because that’s how God made it, and you could watch it going round during the day.
But, Galileo stuck to his guns for years, defying authorities and continued to try to spread the word that the sun sits at the centre of our solar system, and in 1633 he was tried and found guilty of heresy for his beliefs.
By that time, he wasn’t a well man, and so pleaded with authorities not to send him to prison where he would surely die.
They took a small mercy upon him, and commuted his sentence to life in prison, to be served at home, setting a legal precedent and creating a loophole that has since been employed by several extremely crafty rich people, such as Christopher Skase, Alan Bond and Harvey Weinstein.
But we trust that you’re all good people, and won’t ever need to pretend to be deathly or mentally ill to avoid prison time. So to assist you in your endeavours to get the most out of your day on the markets, we’ve got Michael “Washy” Washbourne’s look at the world of Future Metals, and Nadine McGrath has sat down with the boss of Dimerix to talk about the company’s Phase III trials of its latest medical creation.
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$2,036.00 (+0.05%)
Silver: US$22.95 (+0.88%)
Nickel (3mth): US$17,178.50/t (+1.15%)
Copper (3mth): US$8,474.83/t (-0.29%)
Oil (WTI): US$76.56 (-2.27%)
Oil (Brent): US$81.58 (-2.21%)
Iron 62pc Fe: US$126.85/t (-0.76%)
AUD/USD: 0.6559 (-0.04%)
Bitcoin: US$51,601.70 (+0.32%)
WHAT GOT YOU TALKING
Someone’s struck gold. Real, actual gold. Find out who with Rob Badman’s excellent wrap of the always exciting Resources sector.
Among the top #resources #stocks today: Strong assay results at the Warrior #mining project sees Sierra Nevada Gold (#ASX:$SNX) make a solid move. https://t.co/v2EWRX4696
— Stockhead (@StockheadAU) February 23, 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 | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| WHK | Whitehawk Limited | 0.023 | 92% | 18,819,800 | $4,056,849 |
| AXE | Archer Materials | 0.455 | 40% | 4,632,610 | $82,825,279 |
| CCO | The Calmer Co Int | 0.007 | 40% | 41,275,156 | $5,377,928 |
| ODE | Odessa Minerals Ltd | 0.008 | 33% | 32,067,089 | $6,259,695 |
| PKO | Peako Limited | 0.004 | 33% | 125,000 | $1,581,254 |
| ZGL | Zicom Group Limited | 0.052 | 30% | 206,446 | $8,582,400 |
| PHX | Pharmx Technologies | 0.039 | 30% | 299,584 | $17,955,204 |
| IAM | Income Asset | 0.086 | 28% | 281,934 | $22,168,345 |
| PAA | PharmAust Limited | 0.375 | 25% | 3,584,289 | $115,945,964 |
| IVX | Invion Ltd | 0.005 | 25% | 4,957,487 | $25,698,129 |
| SIT | Site Group Int Ltd | 0.0025 | 25% | 814,000 | $5,204,980 |
| VFX | Visionflex Group Ltd | 0.01 | 25% | 113,334 | $11,335,930 |
| AHX | Apiam Animal Health | 0.39 | 24% | 538,764 | $56,701,715 |
| ZMM | Zimi Ltd | 0.037 | 23% | 325,000 | $3,661,672 |
| PNN | Power Minerals Ltd | 0.19 | 23% | 585,829 | $13,543,296 |
| IRD | Iron Road Ltd | 0.068 | 21% | 258,250 | $46,055,699 |
| MYE | Metarock Group Ltd | 0.17 | 21% | 422,530 | $42,913,636 |
| CUS | Copper Search | 0.12 | 20% | 23,380 | $9,228,541 |
| EMT | Emetals Limited | 0.006 | 20% | 167,678 | $4,250,000 |
| LML | Lincoln Minerals | 0.006 | 20% | 3,500,185 | $8,520,226 |
| M4M | Macro Metals Limited | 0.003 | 20% | 29,666 | $7,030,194 |
| OXT | Orexplore Technologies | 0.024 | 20% | 91,424 | $3,908,313 |
| OEQ | Orion Equities | 0.19 | 19% | 25,000 | $2,503,876 |
| BDT | Birddog | 0.065 | 18% | 33,453 | $10,617,260 |
| ABB | Aussie Broadband | 4.48 | 17% | 7,671,615 | $1,064,450,342 |
There were lots of little small caps moving rapidly without news on Friday morning, with cybersecurity minnow WhiteHawk (ASX:WHK) waaaay out in front on close to +60% being the best of them.
In terms of newsworthy climbs, The Calmer Co International (ASX:CCO) scored a huge retail win, after US giant Walmart agreed to stock the company’s Fiji Kava Instant Kava 150mg product on its shelves.
Word on the street is that Walmart approached the company after noticing how popular the product had been on Amazon.com, and – never one to miss out on getting aboard a bandwagon – Walmart wanted in on that action as well.
Gold Mountain (ASX:GMN) got its neurology on, announcing to the market that it had managed to secure 20 new tenements with a total area of 388.18 km2 for niobium and REE in the Araxá region of Minas Gerais, located about 450km north of Sao Paulo.
BSA (ASX:BSA) climbed through the day after releasing its half-year report, showing revenue of $121.4 million that led the company to an EBITDA of $10.1 million.
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 | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MTB | Mount Burgess Mining | 0.002 | -33% | 20,480 | $3,134,440 |
| NRZ | Neurizer Ltd | 0.005 | -29% | 6,728,944 | $10,247,376 |
| KNB | Koonenberry Gold | 0.02 | -26% | 270,993 | $3,233,225 |
| MRQ | MRG Metals Limited | 0.0015 | -25% | 1,385,000 | $4,942,682 |
| RNX | Renegade Exploration | 0.006 | -25% | 2,000,000 | $8,013,790 |
| ARR | American Rare Earths | 0.315 | -25% | 12,225,633 | $188,337,786 |
| SHJ | Shine Justice Ltd | 0.63 | -20% | 161,211 | $136,876,831 |
| BVR | Bellavista Resources | 0.1 | -20% | 43,829 | $6,201,372 |
| SOC | Soco Corporation | 0.14 | -20% | 592,917 | $24,193,796 |
| ATH | Alterity Therapeutics | 0.004 | -20% | 73,169,982 | $21,913,774 |
| RMX | Red Mount Min Ltd | 0.002 | -20% | 310,350 | $6,683,940 |
| WBE | Whitebark Energy | 0.018 | -18% | 23,911 | $3,602,327 |
| ASO | Aston Minerals Ltd | 0.014 | -18% | 4,925,011 | $22,016,093 |
| FOS | FOS Capital Ltd | 0.19 | -17% | 20,744 | $12,375,412 |
| COY | Coppermoly Limited | 0.01 | -17% | 64,988 | $8,353,625 |
| DOU | Douugh Limited | 0.005 | -17% | 1,256,439 | $6,492,414 |
| IEC | Intra Energy Corp | 0.0025 | -17% | 666,666 | $5,072,345 |
| LNR | Lanthanein Resources | 0.005 | -17% | 28,201,260 | $7,738,871 |
| OAR | OAR Resources Ltd | 0.0025 | -17% | 1,402,888 | $7,959,933 |
| CSX | Cleanspace Holdings | 0.29 | -16% | 113,968 | $26,669,577 |
| DUR | Duratec | 1.215 | -16% | 5,917,887 | $357,062,377 |
| G88 | Golden Mile Res Ltd | 0.011 | -15% | 1,303,488 | $5,345,897 |
| PKD | Parkd Ltd | 0.022 | -15% | 144,152 | $2,704,361 |
| PNT | Panther Metals | 0.04 | -15% | 67,768 | $4,096,810 |
| CMX | Chemx Materials | 0.064 | -15% | 50,000 | $7,000,738 |
TRADING HALTS
Top End Energy (ASX:TEE) – pending an announcement regarding a project acquisition and capital raising activities.
Trinex Minerals Limited (ASX: TX3) – pending an announcement regarding a proposed acquisition and capital raising. Todd River Resources (ASX:TRT)
Freehill Mining (ASX:FHS) – pending an announcement in connection with material purchase orders received regarding Yerbas Buenas magnetite and associated materials.
PolarX (ASX:PXX) – pending the release of an announcement in relation to a capital raising.
Odessa Minerals (ASX:ODE) – pending the response to a price query letter and the release of an announcement in relation to airmag survey results.
