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

Good gracious me, is it Friday already? I dunno about you guys, but this entire week has just flown on by in a blizzard of percentages, incredible news and a thin, delectable veneer of scurrilous gossip that I’d love to share with you, but won’t.

Partially because it’s not nice to talk about people behind their back, but mostly because I don’t fancy trying to explain to my landlord that the real reason I can’t afford the outrageous rent hike she’s asking for is because I was stupid enough to suggest that [redacted] CEO and MD of [redacted] is frantically trying to quell rumours that they’ve been arrested at [redacted] petting zoo, allegedly [redacted] with a gaggle of [redacted].

Which is as hilarious as it is disgusting, but not quite so hilarious that I was able to keep from being fired.

However, there’s loads that we can bring you this morning, including a look into what’s happening in the wacky world of weed, with Eddy Sunarto.

Meanwhile Josh Chiat’s been bending the ear of Lion Selection Group’s Hedley Widdup for insights into the rest of the market, and Bevis “The Bevinator” Yeo brings his prodigious knowledge of the energy market to the table as well.

As always, there’s some very specific data to digest this morning, so without further ado, here it is…

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$1,916.34 (+0.11%)

Silver: US$24.13 (-0.79%)

Nickel (3mth): US$20,810/t (-0.70%)

Copper (3mth): US$8,361/t (-0.70%)

Oil (WTI): US$78.96 (+0.09%)

Oil (Brent): US$83.20 (-0.01%)

Iron 62pc Fe: US$107.82/t (+0.33%)

AUD/USD: 0.6414 (+0.5%)

Bitcoin: US$26,095 (-1.43%)

WHAT GOT YOU TALKING

It feels like everyone’s on the hunt for some new friends, so it’s no surprise that our IPO wrap caught quite a few eyes yesterday.

After slumping for almost two years, the #IPO market has come to life and suddenly, everyone is talking about IPOs again. https://t.co/I2oUTP3kQk

— Stockhead (@StockheadAU) August 23, 2023

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
ERW	Errawarra Resources	0.2	67%	8,363,560	$7,260,480
CCE	Carnegie Cln Energy	0.0015	50%	4,452,378	$15,642,574
CLE	Cyclone Metals	0.0015	50%	102,570	$10,264,505
ICR	Intelicare Holdings	0.015	36%	54,131	$2,298,069
GCR	Golden Cross	0.004	33%	10,492	$3,291,768
SIS	Simble Solutions	0.008	33%	865,636	$3,617,704
TYM	Tymlez Group	0.004	33%	2,704,604	$3,714,586
VAL	Valor Resources Ltd	0.004	33%	550,000	$11,485,004
RDN	Raiden Resources Ltd	0.025	32%	187,314,207	$39,050,110
SBR	Sabre Resources	0.044	29%	810,690	$9,910,530
BP8	Bph Global Ltd	0.0025	25%	895,821	$2,669,460
CTO	Citigold Corp Ltd	0.005	25%	3,529	$11,494,636
LSA	Lachlan Star Ltd	0.01	25%	463,299	$10,552,102
MXC	Mgc Pharmaceuticals	0.0025	25%	110,180	$7,784,719
PIL	Peppermint Inv Ltd	0.01	25%	2,363,239	$16,302,855
TOY	Toys R Us	0.01	25%	1,551,710	$7,383,344
WRK	Wrkr Ltd	0.027	23%	909,718	$27,974,959
OSL	Oncosil Medical	0.011	22%	1,363,312	$17,782,570
IGN	Ignite Ltd	0.073	22%	534,469	$5,374,931
EPY	Earlypay Ltd	0.18	20%	1,276,609	$43,489,304
AVM	Advance Metals Ltd	0.006	20%	2,187,309	$2,942,794
MOM	Moab Minerals Ltd	0.012	20%	4,570,451	$6,819,635
PNX	PNX Metals Limited	0.003	20%	348,494	$13,451,562
TKL	Traka Resources	0.006	20%	1,899,998	$4,356,646
FTL	Firetail Resources	0.155	19%	327,889	$12,512,500

Yesterday’s Small Caps standouts were:

Best of the tiddlers on Thursday was the niche hunter of halloysite kaolin, Andromeda Metals (ASX:ADN)which jumped nicely on news of an updated Definitive Feasability Study for its Great White Project (GWP), at Streaky Bay on the Eyre Peninsula in South Australia.

The Great White Project Net Present Value (NPV) has apparently increased by 65% to $1,010m, and average annual earnings before interest tax depreciation and amortisation (EBITDA) is up by circa 60% to $130mn.

“The 2023 DFS represents the outcome of a rigorous commercial and business strategy review for commercialising our construction ready project, to meet rising market demand,” said Bob Katsiouleris, CEO and managing director of Andromeda.

Black Mountain Energy (ASX:BME), dropped news of being cash-richer by circa $10.7m, and the stock jumped by more than a third, following the sale of 100% of its acreage and its title and interest in the MIA 64 FEE 2H well in the Permian basin.

BME dropped about US$2 million for the site in January of this year, spent about US$1.4 million poking around the project, before off-loading it for a weirdly precise US$6,873,308 this week.

Math guru Gregor (me) reckons that makes for a 102% profit, but he’s as good with numbers as he is at swallowing cars, so it might be worth double-checking.

Carrying on up the ASX was Wednesday’s warrior Raiden Resources (ASX:RDN) on the news that it’s all over an outcropping and interpreted pegmatites of up to 30m width at surface at its prized Andover South project. Yes, it’s the one right next door to all the excitement at Azure Minerals (ASX:AZS).

And it didn’t take long for Errawarra Resources (ASX:ERW), to find another 20% after merely flying a helicopter over its E47/4352 tenement in the West Pilbara region of Western Australia.

Yes. Errawarra’s tenement is next door and along strike from the Azure/Raiden pegmatite finds. It’s all coming together.

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
EMS	Eastern Metals	0.038	-27%	668,015	$3,460,071
1AG	Alterra Limited	0.007	-22%	3,592,243	$6,268,973
GIB	Gibb River Diamonds	0.028	-22%	110,000	$7,614,340
OPN	Oppenneg	0.011	-21%	362,500	$15,633,515
RNX	Renegade Exploration	0.008	-20%	2,540,655	$9,531,238
THR	Thor Energy PLC	0.004	-20%	7,173,116	$7,296,457
JDO	Judo Cap Holdings	1.025	-19%	9,910,998	$1,398,482,638
HIQ	Hitiq Limited	0.024	-17%	792,247	$7,736,599
HVY	Heavymineralslimited	0.125	-17%	75,941	$6,350,288
IVX	Invion Ltd	0.005	-17%	629,642	$38,529,793
LML	Lincoln Minerals	0.005	-17%	97,899	$8,524,271
LNU	Linius Tech Limited	0.0025	-17%	30,362	$12,689,372
RBR	RBR Group Ltd	0.0025	-17%	989	$4,855,214
SI6	SI6 Metals Limited	0.005	-17%	36,964	$11,963,157
ABE	Ausbondexchange	0.13	-16%	231,032	$6,006,731
MRI	Myrewardsinternation	0.011	-15%	1,144,997	$5,053,772
CI1	Credit Intelligence	0.14	-15%	495,846	$13,777,361
FRX	Flexiroam Limited	0.023	-15%	2,790,211	$17,933,176
ELE	Elmore Ltd	0.003	-14%	12,661,699	$4,897,843
SIO	Simonds Grp Ltd	0.155	-14%	63,564	$64,783,161
NGS	NGS Ltd	0.013	-13%	832,218	$3,768,411
TTT	Titomic Limited	0.02	-13%	1,579,624	$19,909,816
BFC	Beston Global Ltd	0.007	-13%	4,328,254	$15,976,375
BVR	Bellavistaresources	0.14	-13%	79,521	$6,075,602
GW1	Greenwing Resources	0.175	-13%	29,374	$34,554,171