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:

 

YESTERDAY’S ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks:

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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
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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
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TRADING HALTS