What you need to know before the ASX opens on Tuesday, 7 Nov. Picture Getty
Rise and Shine: Everything you need to know before the ASX opens
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Good morning everyone, and welcome to Tuesday, 7 November.
Aussie shares are poised to open lower on Tuesday despite gains Wall Street. At 8am AEST, the ASX 200 index futures was pointing down by -0.2%.
On Stockhead today…
Warren Buffett’s business buffet, the conglomerate that is Berkshire Hathaway, dropped its Q3 report over the weekend. Christian Edwards delves into why, despite reporting a net loss of US$12.77 billion, the company’s operating income erupted – surging by 40.65% on the previous Q3 – from $7.65bn to $10.76bn.
Broker MA Moelis has initiated coverage on two ASX stocks, Silk Logistics (ASX:SLH) and Shine Justice (ASX:SHJ), with a Buy rating. Here’s why it thinks we should get into these two stocks now.
And Josh Chiat reports on Barrick Gold’s Mark Bristow as he pours cold water on M&A.
But first..
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$1,977.00 (-0.77%)
Silver: US$23.02 (-0.76%)
Nickel (3mth): US$18,223/t (+1.36%)
Copper (3mth): US$8,175.50/t (+0.40%)
Oil (WTI): US$80.92(+0.51%)
Oil (Brent): US$85.32 (+0.51%)
Iron 62pc Fe: US$126.63/t (+0.38%)
AUD/USD: 0.6487 (-0.3%)
Bitcoin: US$35,086 (+0.97%)
WHAT GOT YOU TALKING
Pioneer Lithium (ASX:PLN) has added another string to its bow with the acquisition of a greenfields property in northwest Ontario, nestled between Patriot Lithium’s (ASX:PAT) Dryden project and Canadian-listed Beyond Lithium’s Victory and Victory West project
Strickland Metals (ASX:STK) is on a tear ever since it sold its Millrose gold project to Northern Star Resources (ASX:NST) for a whopping $61m. Aggressive’ RC drilling has commenced across an initial 300m of the mapped 700m strike at the Marwari gold discovery.
And this…
The #mining majors are prepping for a #copper boom. So, where are the massive discoveries going to come from? | #ASX #exploration #porphyry https://t.co/oohQe5DFWT
— Stockhead (@StockheadAU) November 5, 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 |
|---|---|---|---|---|---|
| NRZR | Neurizer Ltd - Rights 10-Nov-23 Def | 0.002 | 100% | 1,493,610 | $127,674 |
| TWER | Treasury Wine Estate - Rts16Nov23 Forusdef | 0.86 | 74% | 81,288 | $37,811,095 |
| WSP | Whispir Limited | 0.4825 | 61% | 4,197,436 | $39,291,768 |
| CLE | Cyclone Metals | 0.0015 | 50% | 21,708,476 | $10,264,505 |
| MKL | Mighty Kingdom Ltd | 0.016 | 45% | 1,671,739 | $4,624,066 |
| TG6 | Tgmetalslimited | 0.675 | 36% | 12,212,843 | $19,949,263 |
| M4M | Macro Metals Limited | 0.004 | 33% | 3,513,194 | $5,961,233 |
| PUA | Peak Minerals Ltd | 0.004 | 33% | 1,944,592 | $3,124,130 |
| 8IH | 8I Holdings Ltd | 0.012 | 33% | 30,522 | $3,216,204 |
| NSM | Northstaw | 0.065 | 33% | 688,765 | $5,886,223 |
| OZM | Ozaurum Resources | 0.13 | 31% | 3,613,629 | $15,716,250 |
| CHK | Cohiba Min Ltd | 0.0025 | 25% | 383,999 | $4,426,488 |
| GTG | Genetic Technologies | 0.0025 | 25% | 66,658 | $23,083,316 |
| LBT | LBT Innovations | 0.005 | 25% | 293,253 | $1,423,601 |
| MRQ | Mrg Metals Limited | 0.0025 | 25% | 4,220,000 | $4,411,837 |
| COV | Cleo Diagnostics | 0.205 | 24% | 1,068,775 | $12,183,188 |
| EXL | Elixinol Wellness | 0.011 | 22% | 2,604,642 | $5,682,095 |
| TRT | Todd River Res Ltd | 0.011 | 22% | 5,229,430 | $5,863,928 |
| S3N | Sensore Ltd | 0.11 | 22% | 18,929 | $3,275,392 |
| KZA | Kazia Therapeutics | 0.067 | 22% | 1,622,414 | $12,999,216 |
| CLU | Cluey Ltd | 0.088 | 21% | 60,536 | $14,717,790 |
| XGL | Xamble Group Limited | 0.06 | 20% | 56,000 | $14,207,812 |
| CTO | Citigold Corp Ltd | 0.006 | 20% | 2,542,078 | $14,368,295 |
| CXU | Cauldron Energy Ltd | 0.012 | 20% | 14,190,554 | $9,735,687 |
| ESR | Estrella Res Ltd | 0.006 | 20% | 30,737,107 | $8,795,359 |
Yesterday’s Small Caps highlights:
On a dull Monday morning in Sydney, the Aussie comms-platform-as-a-service (CPaaS) Soprano Design lobbed an off-market takeover play for Whispir (ASX:WSP) for circa $64 million.
Soprano, it turns out, has already been lugging some 15% of Whispir shares around town and is run by the former Appen (ASX:APX) boss Mark Brayan and with private equity backing probably thought the offer for little Whispir was a done deal.
Not so.
The cloud-comms tech firm was onto it in a flash this morning – telling shareholders not to move a muscle while the board thinks of a better number than the all-cash 48¢ a pop offer.
Mighty Kingdom (ASX:MKL) meanwhile, has reported a September quarter without any massive holes blown through it by the universe. A welcome change.
Quarterly Games revenue of $2m is up a sterling +38% increase pcp, while the game developer says ongoing contracts – with cool set-ups like East Side Games, Google and Spinmaster – has driven “continued growth in baseline revenue to ensure long term sustainability”.
Better yet, the MK’s cost control strategy has resulted in a 13% cut in quarter-on-quarter expenses, combining to reflect a 31% reduction in costs compared to the pcp.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| REM | Remsensetechnologies | 0.038 | -34% | 270,500 | $5,701,985 |
| KNM | Kneomedia Limited | 0.002 | -33% | 1 | $4,514,356 |
| RBR | RBR Group Ltd | 0.002 | -33% | 2 | $4,855,214 |
| TGH | Terragen | 0.02 | -29% | 1,326,160 | $10,334,272 |
| AHN | Athena Resources | 0.003 | -25% | 1 | $4,281,870 |
| CCE | Carnegie Cln Energy | 0.0015 | -25% | 522,371 | $31,285,147 |
| DCX | Discovex Res Ltd | 0.0015 | -25% | 1 | $6,605,136 |
| LNU | Linius Tech Limited | 0.0015 | -25% | 1,020,000 | $9,044,581 |
| MGTR | Magnetite Mines - Rights 09-Nov-23 | 0.003 | -25% | 29,428 | $83,744 |
| NNG | Nexion Group | 0.012 | -25% | 596,999 | $3,236,926 |
| SIH | Sihayo Gold Limited | 0.0015 | -25% | 1 | $24,408,512 |
| TMR | Tempus Resources Ltd | 0.009 | -25% | 9,640,861 | $4,115,074 |
| BVR | Bellavistaresources | 0.095 | -24% | 12,590 | $6,017,305 |
| HPR | High Peak Royalties | 0.05 | -23% | 175,000 | $13,523,881 |
| AD1 | AD1 Holdings Limited | 0.004 | -20% | 100,000 | $4,112,845 |
| DOU | Douugh Limited | 0.004 | -20% | 507,977 | $5,338,545 |
| ERL | Empire Resources | 0.004 | -20% | 1 | $5,564,675 |
| FAU | First Au Ltd | 0.002 | -20% | 1 | $3,629,983 |
| LSR | Lodestar Minerals | 0.004 | -20% | 2,435,689 | $10,116,987 |
| ROO | Roots Sustainable | 0.004 | -20% | 24,529 | $766,562 |
| SFG | Seafarms Group Ltd | 0.004 | -20% | 126,396 | $24,182,996 |
| HMD | Heramed Limited | 0.033 | -18% | 690,376 | $11,180,568 |
| EEL | Enrg Elements Ltd | 0.005 | -17% | 24,000 | $6,059,790 |
| SI6 | SI6 Metals Limited | 0.005 | -17% | 1,004,224 | $11,963,157 |
| OSX | Osteopore Limited | 0.042 | -16% | 56,901 | $7,745,932 |
TRADING HALTS
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