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Rise and Shine: Everything you need to know before the ASX opens
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‘Tis the first of the month at the end of the week at the start of the weekend that is sure to end well after dads across Australia are forced to smile wanly at packages of socks’n’undies from their kids for Father’s Day.
It’s also the first day of Spring, in case anyone was wondering – a joyous time of year when the already intolerable UV Index starts its annual creep towards “Everyone Gets Cancer” levels, and every un-neutered pet in Australia begins eyeing off legs/couch/cushions/babies etc as potential vessels for procreation.
It also represents new life – a new beginning, if you will – a chance to let go of the past and embrace a warm future of more prudent investment, and a whole lot less gambling on companies that may (or, more likely may not) be The One to stand the test of time and actually hit profitability.
But those companies aren’t going to get their on their own – and all your favourites on the ASX are relying, in one way or another, on your support to help keep the wolves from the door, and the door’s open, despite the risk that there could still be wolves out there somewhere.
To help protect you and your family from the inevitable swarm of springtime Father’s Day wolves, you’ll need to know a few key things, and lucky for you, the crack team here at Stockhead has been hard at work putting it all together.
Gregor (me) has convinced Collins St’s Michael Goldberg to give him his three best value stocks picks that Gregor (me) would never have picked.
Economical Eddy Sunarto unpacks what’s happening in the world of bonds (the financial ones, not the undies), and then Christian’s back with a story about property, playing on all your paranoias that it might be your house that’s in the one capital city that actually lost value this year.
Plus, down below, you’ll find all the important bits’n’pieces to get your day off to a cracking start. Enjoy!
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$1,940.13(-0.11%)
Silver: US$24.41 (-0.97%)
Nickel (3mth): US$20,350/t (-1.36%)
Copper (3mth): US$8,437/t (-0.42%)
Oil (WTI): US$83.64 (+2.47%)
Oil (Brent): US$86.76(+1.79%)
Iron 62pc Fe: US$109.40/t (+0.38%)
AUD/USD: 0.6482 (-0.03%)
Bitcoin: US$26,045 (-4.38%)
WHAT GOT YOU TALKING
Richard Ivers and Mike Younger from Prime Value Asset Management spilt the tea on the retail stocks they’re watching, and just about everyone lapped it up:
Richard Ivers and Mike Younger (who run the Prime Value Asset Management team which won the Zenith Small Caps Award last year) are keeping tabs on Australia’s #retail sector, and here’s why. https://t.co/Hx2y6sDVnl
— Stockhead (@StockheadAU) August 30, 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 |
|---|---|---|---|---|---|
| HLA | Healthia Limited | 1.74 | 78% | 3,023,143 | $136,687,178 |
| LNU | Linius Tech Limited | 0.003 | 50% | 125,352 | $8,459,581 |
| DRE | Dreadnought Resources Ltd | 0.059 | 44% | 103,810,795 | $137,135,907 |
| NXD | Nexted Group Limited | 1.06 | 35% | 5,664,025 | $173,780,767 |
| EMU | EMU NL | 0.002 | 33% | 3,281,931 | $2,175,032 |
| NMR | Native Mineral Res | 0.056 | 27% | 1,523,156 | $7,406,459 |
| RDN | Raiden Resources Ltd | 0.03 | 25% | 108,268,168 | $49,326,454 |
| BFC | Beston Global Ltd | 0.01 | 25% | 31,828,780 | $15,976,375 |
| ICN | Icon Energy Limited | 0.005 | 25% | 2,000,000 | $3,072,055 |
| NTM | Nt Minerals Limited | 0.01 | 25% | 949,273 | $6,405,591 |
| OLI | Oliver'S Real Food | 0.02 | 25% | 325,791 | $7,051,711 |
| RML | Resolution Minerals | 0.005 | 25% | 1,500,000 | $5,029,167 |
| NOU | Noumi Limited | 0.18 | 24% | 1,209,375 | $40,180,851 |
| HMY | Harmoney Corp Ltd | 0.515 | 21% | 190,715 | $43,161,124 |
| CPM | Coopermetalslimited | 0.145 | 21% | 12,039 | $6,151,878 |
| VTI | Vision Tech Inc | 0.265 | 20% | 46,800 | $6,977,788 |
| ATP | Atlas Pearls Ltd | 0.053 | 20% | 4,642,200 | $18,826,357 |
| 29M | 29Metalslimited | 0.88 | 20% | 10,624,280 | $352,522,346 |
| APC | Aust Potash Ltd | 0.006 | 20% | 2,779,445 | $5,193,447 |
| TKL | Traka Resources | 0.006 | 20% | 1,018,880 | $4,356,646 |
| JYC | Joyce Corporation | 3.1 | 18% | 49,547 | $74,417,477 |
| BYH | Bryah Resources Ltd | 0.02 | 18% | 44,953 | $5,941,590 |
| EOF | Ecofibre Limited | 0.2 | 18% | 481,431 | $59,366,474 |
| AQD | Ausquest Limited | 0.014 | 17% | 91,407 | $9,901,791 |
| IEC | Intra Energy Corp | 0.007 | 17% | 5,697,429 | $9,724,690 |
Yesterday’s Small Caps standouts were:
Healthia (ASX:HLA) was hovering about 80% higher late in the day after dropping its FY23 and announcing a Scheme Implementation Deed with Harold BidCo, a front for the takeover machine Pacific Equity Partners. The deal is for Harold to snap up 100% of the fully diluted share capital in HLA by way of a scheme of arrangement.
Harold BidCo’s offer is either $1.80 cash per Healthia share, unlisted scrip consideration or a cash/unlisted scrip consideration combo for each shareholder.
That’s not bad, being a superlative 84.6% premium to HLA’s last closing price of $0.975 per share and its 72.8% beyond HLA’s 3-month volume weighted average price.
Out of a trading halt and up from the get go, 29Metals (ASX:29M) said it successfully completed the institutional bit of its fully underwritten, 1 for 2.20 accelerated, non-renounceable entitlement offer.
29M says the Institutional Entitlement Offer will raise circa $122m (subject to reconciliations) at an offer price of $0.69 per share all of this representing a:
▪ 5.6% discount to TERP of $0.731 (this is the theoretical ex-rights price, a co’s best guess on share price value, in this case based on the last closing price on 29 August 2023); and
▪ 8.0% discount to the last closing price of $0.750 on 29 August 2023
And Dreadnought Resources (ASX:DRE) popped after reporting massive and disseminated Ni-Cu sulphides at the Bookathanna North prospect, at the 45km long Money Intrusion part of the Mangaroon Ni-Cu-PGE Project, located in the Gascoyne Region of WA, where Dreadnought is in an earn-in agreement with its partner on the project, First Quantum Minerals.
DRE says on-site inspection shows ~14m of Ni-Cu sulphide mineralisation from 37m, including 2m of massive sulphides and 12m of disseminated sulphides. The sample’s been sent for assays, and further drilling at the site is set to take place.
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 |
|---|---|---|---|---|---|
| CGO | CPT Global Limited | 0.13 | -40% | 499,191 | $9,007,933 |
| AVW | Avira Resources Ltd | 0.001 | -33% | 10 | $3,200,685 |
| KEY | KEY Petroleum | 0.001 | -33% | 350,000 | $2,951,892 |
| MPP | Metro Perf.Glass Ltd | 0.096 | -29% | 600 | $25,026,042 |
| ANO | Advance Zinctek Ltd | 0.815 | -26% | 265,216 | $68,674,891 |
| AXP | AXP Energy Ltd | 0.0015 | -25% | 1,484,418 | $11,649,361 |
| PEN | Peninsula Energy Ltd | 0.091 | -24% | 54,550,098 | $150,846,000 |
| MYX | Mayne Pharma Ltd | 3.68 | -23% | 889,849 | $404,102,868 |
| EMT | Emetals Limited | 0.007 | -22% | 4,803,338 | $7,650,000 |
| NXS | Next Science Limited | 0.51 | -22% | 664,952 | $139,613,587 |
| MRI | Myrewardsinternation | 0.012 | -20% | 1,817,234 | $6,245,221 |
| NSM | Northstaw | 0.048 | -20% | 79,900 | $7,207,620 |
| AJQ | Armour Energy Ltd | 0.1 | -20% | 21,720 | $12,890,014 |
| BTE | Botalaenergyltd | 0.1 | -20% | 130,000 | $6,664,583 |
| BP8 | Bph Global Ltd | 0.002 | -20% | 55,229 | $3,336,824 |
| CTN | Catalina Resources | 0.004 | -20% | 1,899,358 | $6,192,434 |
| OPN | Oppenneg | 0.008 | -20% | 625,000 | $11,166,796 |
| TML | Timah Resources Ltd | 0.032 | -20% | 89,903 | $3,550,390 |
| ECG | Ecargo Hldg | 0.038 | -17% | 64,809 | $28,301,500 |
| RCL | Readcloud | 0.05 | -17% | 94,859 | $7,310,237 |
| EEL | Enrg Elements Ltd | 0.005 | -17% | 14,617 | $6,059,790 |
| IVX | Invion Ltd | 0.005 | -17% | 677,475 | $38,529,793 |
| MXC | Mgc Pharmaceuticals | 0.0025 | -17% | 18,946,251 | $11,677,079 |
| WMG | Western Mines | 0.4 | -16% | 1,788,707 | $28,762,595 |
| DTI | DTI Group Ltd | 0.016 | -16% | 3,500 | $8,522,477 |
TRADING HALTS
Somnomed (ASX:SOM) – Pending an announcement regarding a proposed capital raise.
Star Minerals (ASX:SMS) – Pending an announcement regarding a capital raise.
AMA Group (ASX:AMA) – Pending an announcement regarding a capital raise.
Okapi Resources (ASX:OKR) – Pending an announcement regarding a capital raise.
Emyria (ASX:EMD) – Pending an announcement regarding a capital raise.
Frontier Energy (ASX:FHE) – Pending an announcement regarding a plan of arrangement.
