Rise and Shine: Everything you need to know before the ASX opens
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Tuesday is once again upon us, like a proverbial sumo wrestler would be upon a couple of slabs of high-quality beer, and enough steak to make about 3/4 of a moderately-sized cow.
For real – those giant diaper-wearing, moob-slapping behemoths have a caloric intake that you’d barely believe possible… but it’s a figure that is, like a mega-hefty sumo star, shockingly hard to pin down.
It’s one of those times where Google is next to useless, because a search for an idea of how high the number starts with a claim of 20,000 calories per day (around eight times as much as a normal, healthy human man).
That’s followed by “hard facts”, that claim it is actually 7,000, 10,000 (or more), between 3,000 and 5,000, or 5,000 and 7,000, depending on which obviously incorrect website you decide to trust.
For those of you playing at home, the correct answer to the question “how many calories per day do sumo wrestlers consume?” is “all of them”.
When I was a kid, I watched a documentary about a sumo wrestler who was (and I quote) about the same size and weight as a 1970s-era Mini Cooper – he drank 2-3 slabs of beer with the dozen or so whole chickens he enjoyed inhaling.
He had to have a special contraption built in his house – a ponderous series of ropes, pulleys, stout wooden framework and a counter-weighted harness to hoist him on top of his ‘special lady friends’ so that they wouldn’t be crushed into a singularity when their lucky time came.
Thinking back on it now, it’s still hugely amusing – especially the thought that just occurred to me. Should the young woman in question become bored or find the act of making love with a giant blob, she’d have no trouble hastily moving from with harm’s range, leaving the sumo star dangling precariously, looking for all the world like a slowly deflating beachball was being used a Tom Cruise stunt double in that Mission Impossible film.
I’m rambling (it’s already been a long day…), so I’ll wrap up – but not before I let you know that there’s plenty to read on the site this morning.
That includes Josh Chiat’s sit-down with the one and only Rusty Delroy from Nero Resource Fund – a man who loves his mullet as much as he loves hunting down deep value investment options, and Eddy Sunarto’s actually found an ASX stock that makes money when Hollywood strikes it rich.
Plus, here’s all the bits and bobs that a traditional pre-market ramble should provide – just because we love you.
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Wildcat’s (ASX:WC8) giant step for the future of cat-based lithium yesterday was clearly the Topic of the Day, which is probably why just about all of us ended up giving the company a mention.
— Stockhead (@StockheadAU) September 18, 2023
Here are the best performing ASX small cap stocks:
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Yesterday’s Small Caps standouts were:
If you’d like a good read around Wildcat Resources (ASX:WC8) which is up about 85% for the day, I couldn’t recommend this thought piece higher from The Wildest Cat I know, Reuben Adams.
Reuben is bona fide legit. His spot-on Nostradamian description of WC8 almost one month ago is both well-written and downright creepy – a rare but most enjoyable cross-genre combo.
WC8’s Monday share price action comes after drilling into a “major lithium discovery” at its Tabba Tabba prospect in WA.
It’s a littany of good-lookin’ lithium hits:
That’s the results from the central cluster WC8 drilled, and the second cluster isn’t as good, but it’s still pretty decent, with highlights such as 21m at 1.1% Li2O from 42m, and 20m at 1.3% Li2O from 20m.
Just 2km east of Delta Lithium’s Malinda Prospect, Bubalus Resources (ASX:BUS) has snapped up a few tenements prospective for lithium mineralisation in the Gascoyne Region of Western Australia.
The area’s never been the subject of a serious lithium hunt before, BUS says, which is exciting in and of itself – and the location means that Bubalus can now work year-round, as its other major projects are all a lot further north in the NT, and subject to closure during The Wet.
Climbing in arvo trade is a third Li2O vebture, Venus Metals (ASX:VMC). Venus has informed the ASX it’s mapped two new zones with outcropping LCT pegmatites, south from Lithium-rich pegmatites (reported previously on 24 August 2023), which are reportedly replete with as much as 4.6% Li2O.
And sticking to the lithium theme, absolute Li2O minnow, Reach Resources (ASX:RR1) has jumped about 29%% to 0.018 cents a pop this arvo after recent mapping at its 100% owned Morrissey Hill Lithium Project, in Yinnetharra WA has revealed a bunch of previously unrecognised, wide and strike extensive pegmatite swarms.
“Individual pegmatites extend up to 2km in strike length and over 30 metres in width.,” the company says.
Here are the worst performing ASX small cap stocks:
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Magnetic Resources (ASX:MAU) – In relation to a proposed capital raising.
OzAurum Resources (ASX:OZM) – In relation to a proposed capital raising.
Alderan Resources (ASX:AL8) – Pending news relating to a material acquisition and associated capital raising.
New Age Exploration (ASX:NAE) – Pending news in connection with a material capital raising.
Alligator Energy (ASX:AGE) – Pending an announcement in relation to a proposed capital raising
Thor Energy (ASX:THR) – Pending an announcement to the market in relation to a capital raising.
Strickland Metals (ASX:STK) – Pending an announcement in relation to a new gold discovery at its flagship Yandal Gold Project
BBX Minerals (ASX:BBX) – Pending an announcement to the market in relation to a capital raising
Synlait Milk (ASX:SM1) – “Synlait Milk Limited has become aware of new information it has received in relation to a material contract with a third party customer. The trading halt is being requested to provide Synlait Milk Limited with additional time to properly consider the new information and to inform the market.”