Good morning everyone, and welcome to Thump Day, which is kinda the same as Hump Day, except there’s more thumping (which, naturally, means an increase in lumping as well).

The week’s been pretty okay so far on the ASX – nothing to write home about (a postcard is fine…) – but still enough of a kick-along to remind a lot of us why it is that we enjoy being driven slowly mad by gambling money on things we can’t actually fully control.

But what we can do is make educated decisions about which companies we’re going to throw out hard-earned miserably-valued Aussie dollars at, through a task known as “reading”.

As there’s no point reading stuff that doesn’t exist, the Stockhead team has stepped up to the plate to deliver words – many, many words – carefully arranged in a particular rule-based order so they make sense to (hopefully) most of you, and you can use them to try and spot value early, and often.

For instance, Christian Edwards has been writing his little socks off to bring you the complete skinny on the most ridiculously successful IPO right now. That’s Vietnamese EV maker, VinFast which in two weeks has grown to be the world’s third-largest EV maker.

Josh Chiat’s digging deep into the miners in just the way he knows you like it.

If you’re still rubbing the sleep from your eyes, though, here’s a breadcrumb trail of data to lead you to where you’re going to want to be, when the bell rings to say that the ASX is open and the good times have started to roll.



Gold: US$1,937.21 (+0.91%)

Silver: US$24.69 (+1.81%)

Nickel (3mth): US$20,685/t (-0.53%)

Copper (3mth): US$8,455/t (+1.19%)

Oil (WTI): US$81.33  (+1.53%)

Oil (Brent): US$83.80 (-0.73%)

Iron 62pc Fe: US$108.65/t (+1.76%)

AUD/USD: 0.6479  (-0.03%)

Bitcoin: US$27,660.42 (+6.45%)



For some unfathomable reason, quite a few of you were just a little bit interested in what MinRes supremo Chris Ellison had to say about the unrelenting awesomeness of good ol’ Aussie lithium.




Here are the best performing ASX small cap stocks:

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Yesterday’s Small Caps standouts were:

GCX Metals (ASX:GCX), flying 78.5% higher this morning has ended with around a 50% gain on news that it has entered into a binding conditional agreement to acquire the Dante nickel-copper-platinum group elements project located in the West Musgrave region of Western Australia.

Dante contains advanced large-scale magmatic Ni-Cu-PGE targets and PGE-Au Reef targets, including about 23km of outcropping mineralised strike grading an average of 1.1g/t PGE3ii, 1.13% V2O5, and 23.2% TiO2, with grades up to 3.4g/t PGE3.

Valor Resources (ASX:VAL) rose 33%, still basking in the cracking acquisition by Firetail Resources of a circa 80% stake in Valor’s Peru-based Picha and Charaque Copper Projects. Valor says the deal will streamline its global portfolio, allowing it to focus on its high-potential uranium and rare earth assets in Canada’s Athabasca Basin.

Resources & Energy Group (ASX:REZ) revealed that gold processing is about to kick off at East Menzies Gold Field, with the company’s ore from Maranoa identified as a prime candidate for the vat leach gold production campaign.

The campaign will initially treat 5000 tonnes of ore with a diluted grade of ~4.6g/t Au, and – once that’s up and running – REZ will get cracking on developing a larger-scale vat leach campaign to treat additional shallow resources which have been identified at the Maranoa (8,000oz) and Goodenough (43,000oz) gold deposits.

Outside the diggers, a performance of note came from the self-coined ‘alternative residential mortgage lender’ Resimac (ASX:RMC) which rose strongly after a positive outlook for its mortgage market compelled traders to give it a go, despite dropping an after tax profit down 35 %.

RMC said it was optimistic of a turnaround following 12 months of interest rate rises and that the competitive loan market looked likely to drop off in intensity since interest expenses pretty much tripled off the back of the central bank’s psycho hiking policies.



Here are the worst performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

WordPress Tables Plugin



SQX Resources (ASX:SQX): Pending an announcement relating to changes at Board level.

Australian Pacific Coal (ASX:AQC):  Pending news of a capital raise.

Dominion Minerals (ASX:DLM):  Pending announcements in relation to the option to acquire the land on which the Georgia Lime Project is located; and a potential corporate acquisition.

Northern Minerals (ASX:NTU): Pending the release of an announcement in connection with an equity raising to be undertaken by way of an institutional placement.

88 Energy (ASX:88E): Pending an announcement by the Company in relation to the shortfall placement.

Ardea Resources (ASX:ARL): Pending the release of the results of an equity raising.

Rincon Resources (ASX:RCR): Pending the release of an announcement  in relation to a capital raising.

Eden Innovations (ASX:EDE): Pending the release of an announcement  in relation to a capital raising.

Elmore (ASX:ELE): Requested to allow the Company to finalise discussions in relation to extending the due dates for several of its loans and the postponement of the General Meeting due to be held on Wednesday 30 August 2023.

Next Science (ASX:NXS): Pending an announcement by Next Science in relation to a capital raising by way of a placement and a share purchase plan.