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…
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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