Rise and Shine: Everything you need to know before the ASX opens
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News
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..
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%)
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
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).
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 |