Rise and Shine: Everything you need to know before the ASX opens

Good morning everyone, and welcome to Friday, 10 November.

On Stockhead today…

When gold is worth around A$97 per gram, Peter Strachan reckons there is a lot of money to be made finding and producing the currency metal as interest rates appear to be topping out globally, while trade tensions and kinetic wars drive risk premiums higher. Here are a few of his ASX picks in the box seat to capitalise.

And Cam Drummond has been beating the golden drum too, and has drilled down for some deep, deep value here.

The lack of urgency from European gas buyers could reduce wholesale gas prices on Australia’s east coast as the LNG netback price – a measure of an export parity price that a gas supplier can expect to receive for exporting its gas – plays an important role in the market. But will it have any impact on long-term trends that will see demand outstrip supply from Australia’s ageing gas fields? Bevis Yeo has more.

And Josh Chiat has the next IPO you’ve all been looking for – since the last one. Yes, it’s a lithium play.

But first..

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$1,955.67 (+0.30%)

Silver: US$22.63 (+0.45%)

Nickel (3mth): US$18,094/t (+1.02%)

Copper (3mth): US$8,142/t (-0.54%)

Oil (WTI): US$75.54 (+0.28%)

Oil (Brent): US$80.05 (+0.64%)

Iron 62pc Fe: US$127.38/t (+0.09%)

AUD/USD: 0.6366 (-0.56%)

Bitcoin: US$36,589 (+2.30%)

WHAT GOT YOU TALKING

Venture Minerals (ASX:VMS) has identified a new, large (40km2) REE target named ‘Jupiter’ via reconnaissance drilling and geophysical surveys. Jupiter is interpreted to represent a deeply weathered alkaline intrusion beneath the extensive clay hosted REE mineralisation.

Drilling is under way at QX Resources’ (ASX:QXR) 102km2 Liberty Lithium project in California, targeting a high-value, extensive surface brine anomaly and a large conductive geophysical feature to prove up what the company believes has the potential to be a huge lithium prize.

And this:

Challenger Gold is putting together the numbers in a robust scoping study for its Hualian gold play in Argentina. https://t.co/wjy7bCGE4X #ad #ASX @CExploration

— Stockhead (@StockheadAU) November 9, 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
MGTR	Magnetite Mines	0.01	233%	185,908	$62,808
MTH	Mithril Resources	0.002	100%	1,994,907	$3,368,804
KTA	Krakatoa Resources	0.043	65%	150,541,212	$11,307,346
BP8	Bph Global Ltd	0.0015	50%	1,256,492	$1,615,563
FG1	Flynngold	0.097	43%	5,746,710	$9,274,016
ACM	Aus Critical Mineral	0.385	43%	1,592,421	$8,027,438
IMU	Imugene Limited	0.11	36%	269,666,019	$580,362,964
AHN	Athena Resources	0.004	33%	750,750	$3,211,403
BYH	Bryah Resources Ltd	0.016	33%	727,157	$4,303,263
CT1	Constellation Tech	0.004	33%	246,667	$4,413,601
PNX	PNX Metals Limited	0.004	33%	568,706	$16,141,874
SQX	SQX Resources Ltd	0.135	29%	100,476	$2,625,000
RDN	Raiden Resources Ltd	0.05	28%	215,081,321	$91,098,742
ZNC	Zenith Minerals Ltd	0.165	27%	1,050,587	$45,809,515
EDE	Eden Inv Ltd	0.0025	25%	137,094	$6,727,274
EMP	Emperor Energy Ltd	0.01	25%	981,258	$2,150,900
IEC	Intra Energy Corp	0.005	25%	14,213,429	$6,643,126
KPO	Kalina Power Limited	0.005	25%	4,710,713	$6,060,783
MCT	Metalicity Limited	0.0025	25%	2,690,569	$8,502,172
RIE	Riedel Resources Ltd	0.005	25%	1,499,410	$8,237,628
TEM	Tempest Minerals	0.01	25%	1,732,048	$4,091,068
PIM	Pinnacleminerals	0.29	23%	2,926,116	$6,010,125
EFE	Eastern Resources	0.011	22%	46,056,251	$11,177,518
AS2	Askarimetalslimited	0.17	21%	298,043	$10,752,030
BMM	Balkanminingandmin	0.145	21%	348,900	$8,256,861

Yesterday’s Small Caps highlights:

Up almost +30% at the close, Raiden Resources (ASX:RDN), one of the top ASX stocks of 2023 with +952% YTD gains, has again tapped into some more pegmatite action at its Andover South tenements in the Pilbara.

Assay results have come in from recent rock chip sampling, and “continue to indicate high potential for significant and mineralised Lithium-Tantalum-Caesium (LCT) pegmatites”.

In fact, the latest sampling yields the highest grade lithium result (3.80% Li2O) defined to date from Andover South.

And further X-Ray Diffraction (XRD) analysis confirms spodumene as the dominant lithium mineral in the sampling.

Meanwhile, Impact Minerals (ASX:IPT) announced “outstanding economics” from a scoping study showing its Lake Hope project in WA to potentially be the lowest-cost producer of high purity alumina (HPA) globally.

And clinical stage immuno-oncology small cap Imugene (ASX:IMU), run by MD Leslie Chong, has been developing a portfolio of innovative new treatments for that spectacular global growth market called cancer.

The stock jumped earlier this week, after IMU dropped a promising clinical trial update of its Phase 1 MAST (Metastatic Advanced Solid Tumours) trial evaluating the safety and efficacy of novel cancer-killing virus CF33-hNIS (VAXINIA).

YESTERDAY’S ASX SMALL CAP LAGGARDS

Swipe or scroll to reveal full table. Click headings to sort:

Code	Company	Price	%	Volume	Market Cap
NRZR	Neurizer Ltd	0.001	-80%	10,509,328	$638,370
CLE	Cyclone Metals	0.001	-50%	21,165,123	$20,529,010
TWER	Treasury Wine Estate	0.635	-35%	197,232	$74,094,469
AKM	Aspire Mining Ltd	0.061	-26%	244,327	$41,626,233
NRX	Noronex Limited	0.009	-25%	983,533	$4,539,621
ICG	Inca Minerals Ltd	0.016	-24%	525,644	$10,340,395
SIX	Sprintex Ltd	0.01	-23%	2,061,245	$4,406,974
14D	1414 Degrees Limited	0.025	-22%	521,655	$7,621,393
TG6	Tgmetalslimited	0.865	-21%	9,349,127	$44,331,695
GBZ	GBM Rsources Ltd	0.015	-21%	4,280,449	$11,786,114
KZA	Kazia Therapeutics	0.087	-21%	2,428,685	$25,998,431
FAU	First Au Ltd	0.002	-20%	1,060,801	$3,629,983
GTG	Genetic Technologies	0.002	-20%	495,209	$28,854,145
MRQ	Mrg Metals Limited	0.002	-20%	1,754,565	$5,514,797
TMX	Terrain Minerals	0.004	-20%	15,010,360	$6,767,139
TSL	Titanium Sands Ltd	0.008	-20%	499,666	$17,718,047
YPB	YPB Group Ltd	0.002	-20%	2,695,045	$1,951,154
OKJ	Oakajee Corp Ltd	0.022	-19%	25,000	$2,469,043
NIS	Nickelsearch	0.098	-18%	17,604,973	$19,235,679
R3D	R3D Resources Ltd	0.049	-18%	75,494	$8,889,095
MHK	Metalhawk.	0.195	-17%	664,060	$18,511,188
MPG	Manypeaksgoldlimited	0.22	-17%	14,000	$9,639,238
FGL	Frugl Group Limited	0.01	-17%	205,700	$11,472,744
H2G	Greenhy2 Limited	0.01	-17%	33,793	$5,025,070
MEL	Metgasco Ltd	0.01	-17%	113,870	$12,766,641