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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, how to spot a winning lithium stock, the search for the next Cochlear, and why money managers are still bullish on healthcare.
But first, the day ahead.
WHO’S SCHEDULED TO LIST?
Raised: $15m at 20c per share
Listing: 10:30am AEST
The Red Metals (ASX:RDM) spinout is focused on its namesake lead-silver-copper-gold project in Queensland, which has an existing 2 million tonne lead, 105Moz silver, 170,000t copper and 300,00oz gold resource.
It is in the mineral-rich Carpentaria Province, which hosts multiple Tier 1 lead-zinc-silver mines like Mount Isa, George Fisher, Century, Cannington, Dugald River and significant copper deposits including Mount Isa, Ernest Henry, Osborne, and Eloise.
MMA plans to drill for additional shallow, copper-gold and lead-silver mineralisation as well as the potentially larger, higher-grade copper-gold and lead-zinc-silver extensions at depth.
TRADING HALTS
The following companies are in trading halts and are expected out in the coming days:
Green Technology Metals Limited (ASX:GT1) – strategic cornerstone investment and associated equity capital raising
Talon Energy Ltd (ASX:TPD) — capital raising
Oncosil Medical Ltd (ASX:OSL) – capital raising
Respiri Limited (ASX:RSH) – capital raising
Elanor Commercial Property Fund (ASX:ECF) – capital raising
DC Two Limited (ASX:DC2) – capital raise and board changes
Black Canyon Limited (ASX:BCA) – capital raising
Suvo Strategic Minerals Limited (ASX:SUV) – Metakaolin testing results
Linius Technologies Limited (ASX:LNU) – capital raising
MARKETS (updated at 8am AEDT)
Gold: $US1,925.05 (-0.73%)
Silver: $US23.61 (-2.15%)
Nickel (3mth): $US32,340/t (-2.32%)
Copper (3mth): $US9,881/t (-2.24%)
Oil (WTI): $US97.7 (-4.3%)
Oil (Brent): $US102.2 (-4.14%)
Aust Coking Coal (steelmaking): $406.7/t (-9.6%)
Newcastle Coal (thermal): $264/t (+2.0%)
Iron 62pc Fe: $US145.50 (-0.68%)
AUD/USD: $US0.7151 (-1.19%)
Bitcoin: $US38,506 (-2.44%)
WHAT GOT YOU TALKING YESTERDAY?
This more than doubles the $US2,350/t fetched in Pilbara Minerals’ (ASX:PLS) previous lithium auction. World record.
$PLS @PilbaraMinerals concludes another successful auction-winning bid of $5650/t, way up. By comparison, Ganfeng’s SP has fallen since Sept 21. Margins sit with the miners & will continue to do so. #RKEquity‘s view remains constant – 2022 M&A ⬆️ mostly hard rock in NA and WAUS pic.twitter.com/hnaabKEZ2A
— Rodney Hooper (@RodneyHooper13) April 27, 2022
“Margins sit with the miners & will continue to do so.”
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Also, be sure to check in at 10.20am each day for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.
YESTERDAY’S BIGGEST SMALL CAP WINNERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Description | Price | % | Volume |
|---|---|---|---|---|
| T3D | 333D Limited | 0.003 | 50% | 5,594,879 |
| PCL | Pancontinental Energy | 0.01 | 43% | 160,820,876 |
| LV1 | Live Verdure Ltd | 0.31 | 35% | 317,025 |
| ANL | Amani Gold Ltd | 0.002 | 33% | 55,261,187 |
| BAS | Bass Oil Ltd | 0.002 | 33% | 199,951 |
| BMG | BMG Resources Ltd | 0.057 | 33% | 16,962,860 |
| HCD | Hydrocarbon Dynamic | 0.017 | 31% | 5,326,118 |
| AFW | Applyflow Limited | 0.0025 | 25% | 1,844,000 |
| ARE | Argonaut Resources | 0.005 | 25% | 5,000,604 |
| LPM | Lithium Plus | 0.87 | 24% | 4,363,005 |
| INV | Investsmart Group | 0.33 | 18% | 37,249 |
| IAM | Income Asset Management | 0.2 | 18% | 402,276 |
| DDD | 3D Resources Limited | 0.0035 | 17% | 9,885,997 |
| RAB | Adrabbit Limited | 0.028 | 17% | 1,534,725 |
| SIH | Sihayo Gold Limited | 0.0035 | 17% | 100,000 |
| SRN | Surefire Rescs NL | 0.036 | 16% | 120,133,929 |
| EZZ | EZZ Life Science | 0.37 | 16% | 47,491 |
| NYR | Nyrada Inc. | 0.19 | 15% | 459,253 |
| NKL | Nickelxltd | 0.155 | 15% | 1,519,153 |
| GGX | Gas2Grid Limited | 0.004 | 14% | 16,261 |
| JAT | Jatcorp Limited | 0.016 | 14% | 19,898,433 |
| OEX | Oilex Ltd | 0.004 | 14% | 253,991 |
| IMB | Intelligent Monitor | 0.2725 | 14% | 20,000 |
| MGX | Mount Gibson Iron | 0.65 | 13% | 8,860,130 |
| MPG | Manypeaksgoldlimited | 0.565 | 13% | 275,527 |
Among stocks with news, agri-tech company Bio-Gene (ASX:BGT) jumped by ~15% following the release of its quarterly 4C trading update and among the diggers, Cullen Resources (ASX:CUL) rose by around 10% after reporting some “high-grade gold hits”.
Pumped up WA explorer BMG Resources (ASX:BMG) also surged again in support of Tuesday’s big share price gain.
BMG hit thick, high-grade gold in drilling at ‘Capital’ — part of the ‘Abercrombie’ project — including a cherry on top – 31m at 6.18g/t gold. This was part of a broader 77m intersection grading ~3g/t from 116m.
So far, drilling has more than doubled the mineralised envelope at Capital to 550m long and 520m deep, while the deposit remains open in multiple directions.
Sparkling new drill results from Predictive Discovery’s (ASX:PDI) 3.65Moz ‘Bankan’ discovery in Guinea included a highlight 41.5m at 5.2 grams per tonne (g/t) gold from 598m depth.
The stock climbed nicely after a set of deeper hits prompted it to plan further extensional drilling, to be incorporated in the drill program in the current quarter.
“These new results demonstrate the consistency of grade and mineralisation which evidently continues significantly beyond the bottom of the NE Bankan pit shell, further underpinning Predictive’s view that Bankan is potentially a Tier 1 gold mine in the making,” managing director Andrew Pardey says.
YESTERDAY’S BIGGEST SMALL CAP LOSERS
(Stocks highlighted in yellow fell after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| E33 | East 33 Limited. | 0.022 | -46.3% | 32,983,301 |
| ANW | Aus Tin Mining | 0.001 | -33.3% | 45,236,500 |
| IEC | Intra Energy Corp | 0.014 | -30.0% | 2,075,876 |
| 360 | Life360 Inc. | 3.77 | -29.4% | 5,874,224 |
| MEB | Medibio Limited | 0.0035 | -22.2% | 18,485,734 |
| EX1 | Exopharm Limited | 0.195 | -22.0% | 3,337,180 |
| TRS | The Reject Shop | 4 | -21.6% | 371,911 |
| HAL | Halo Technologies | 0.88 | -20.0% | 324,648 |
| SIX | Sprintex Ltd | 0.06 | -20.0% | 50,000 |
| CLE | Cyclone Metals | 0.004 | -20.0% | 3,643,803 |
| HXG | Hexagon Energy | 0.036 | -18.2% | 6,750,704 |
| VPR | Volt Power Group | 0.0025 | -16.7% | 346,511 |
| INP | Incentiapay Ltd | 0.017 | -15.0% | 50,000 |
| TON | Triton Min Ltd | 0.029 | -14.7% | 3,010,619 |
| OSP | Osprey Med Inc | 0.205 | -14.6% | 255,413 |
| ERG | Eneco Refresh Ltd | 0.036 | -14.3% | 28,000 |
| BLU | Blue Energy Limited | 0.078 | -14.3% | 10,739,409 |
| CAQ | CAQ Holdings Ltd | 0.012 | -14.3% | 50,000 |
| CT1 | Constellation Tech | 0.006 | -14.3% | 170,704 |
| LCT | Living Cell Tech. | 0.006 | -14.3% | 3,463,684 |
| MBK | Metal Bank Ltd | 0.006 | -14.3% | 286,359 |
| AHK | Ark Mines Limited | 0.435 | -13.9% | 57,111 |
| ASQ | Australian Silica | 0.095 | -13.6% | 429,031 |
| C6C | Copper Mountain | 3.33 | -13.5% | 79,833 |
