On Stockhead today, why Woodside’s BHP merger could be a genuine moneyspinner, bargain buys from the battered biotechs, and Zip’s upcoming huge escrow release.
But first, the day ahead.
WHO’S SCHEDULED TO LIST?
CHRYSOS CORPORATION (ASX:C79)
Raised: $183.5m at $6.50 per share
Listing: 11:30am AEST
Chrysos Corporation sounds like the evil multinational from an 80s sci-fi but it’s actually a cutting edge mining technologist.
While IPO and capital markets have been more nervy than they were in 2021 with the whole war sitch hanging around, this is the biggest one of 2022 so far.
Whether it breaks the dam wall remains to be seen but the $183.5m float will certainly be closely watched.
Chrysos has commercialised PhotonAssay, a CSIRO technology that X-rays gold, pitched as the first major advancement in mineral assaying in hundreds of years since the popularisation of the fire assay process.
The firm, led by the impeccably named Dirk Treasure (again, not an evil 80s boss), says its method is cleaner and quicker than fire assay and could displace it in almost every scenario over time.
We spoke to Treasure ahead of the listing.
TRADING HALTS
The following companies are in trading halts and are expected to exit in the coming days.
Great Western Exploration (ASX:GTE) – trading halt, pending the release of an announcement regarding a fund raising
Aeon Metals (ASX:AML) – trading halt, pending the release of an announcement relating to a material equity capital raise
QuickFee Limited (ASX:QFE) – trading halt, relating to a capital raise
MARKETS (updated at 8am AEDT)
Gold: $US1,879.47 (-0.77%)
Silver: $US22.50 (-2.24%)
Nickel (3mth): $US30,638/t (-1.1%)
Copper (3mth): $US9,474/t (+0.7%)
Lithium Carbonate, China (Benchmark Minerals Intelligence, May 4): $US72,650/t (0.0% weekly)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, May 4): $US73,275/t (0.0% weekly)
Oil (WTI): $US108.19 (+0.35%)
Oil (Brent): $US110.19 (+0.05%)
Iron 62pc Fe: $US141.65 (-2.03%)
AUD/USD: $US0.7095 (-2.27%)
Bitcoin: $US36,672.60 (-7.55%)
WHAT GOT YOU TALKING YESTERDAY?
Bloomberg says copper is poised to lose out to gold in a repeat of 2008’s commodity “reversion”… but you’re still keen on the red metal.
YESTERDAY’S BIGGEST SMALL CAP WINNERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Last | % | Volume |
|---|---|---|---|---|
| ROG | Red Sky Energy. | 0.0085 | 70% | 185,526,282 |
| EVE | EVE Health Group Ltd | 0.0015 | 50% | 1,658,720 |
| PKO | Peako Limited | 0.024 | 41% | 5,376,911 |
| SIH | Sihayo Gold Limited | 0.004 | 33% | 614,616 |
| E33 | East 33 Limited. | 0.065 | 30% | 6,160,280 |
| MOH | Moho Resources | 0.048 | 30% | 950,521 |
| DCX | Discovex Res Ltd | 0.009 | 29% | 12,208,006 |
| BTC | BTC Health Ltd | 0.056 | 27% | 62,551 |
| OKJ | Oakajee Corp Ltd | 0.05 | 25% | 425,000 |
| VPR | Volt Power Group | 0.0025 | 25% | 3,454,928 |
| TMX | Terrain Minerals | 0.011 | 22% | 19,025,207 |
| AQZ | Alliance Aviation | 4.28 | 22% | 1,239,868 |
| AR1 | Australresources | 0.255 | 21% | 2,332,127 |
| OVT | Ovato Limited | 0.15 | 20% | 42,000 |
| FHS | Freehill Mining Ltd. | 0.024 | 20% | 1,977,180 |
| MAY | Melbana Energy Ltd | 0.1 | 19% | 48,270,461 |
| SRK | Strike Resources | 0.225 | 18% | 4,197,281 |
| NC1 | Nicoresourceslimited | 1.27 | 18% | 1,319,670 |
| LEL | Lithenergy | 1.7 | 18% | 1,831,111 |
| WGR | Westerngoldresources | 0.135 | 17% | 27,368 |
| PRM | Prominence Energy | 0.0105 | 17% | 79,223,048 |
| SLB | Stelarmetalslimited | 0.21 | 17% | 187,669 |
| CZR | CZR Resources Ltd | 0.014 | 17% | 3,854,861 |
| OEX | Oilex Ltd | 0.0035 | 17% | 520,035 |
| SPX | Spenda Limited | 0.014 | 17% | 13,464,837 |
Seafood stock East 33 (ASX:E33) was up 23%.
The share price has been up and down like watching the last scenes of a James Cameron movie on repeat, Closing Bell editor Christian Edwards muses. The stock peaked at over 120% on Monday, before settling to a more cheerful 82% gain at the close.
If you’ve not been staying up-to-date with the home of Sydney Rock Oysters there’s been fear and loathing, and then love, and then fear, ever since the company flagged the potential impact of El Nina on its harvest.
It’s been stormy waters since.
Peako (ASX:PKO) was 35.3% higher at the close of trade, thanks to 5km of first pass drilling which is due to kick off ASAP at the ‘Eastman’ intrusive complex in the Kimberley – where the PKO team is sniffing out a major PGE discovery.
The Eastman Intrusion comprises a 16.5km long PGE-rich mineralised layered mafic-ultramafic intrusive complex “with only limited historical drilling”.
Recent drilling by Pantoro (ASX:PNR) at the nearby ‘Lambo’ Intrusion has also defined wide PGE intercepts, so there’s form. Oh yes, there is form.
Reuben says the $6m market cap stock is up 10% year-to-date. It had $2.15m in the bank at the end of March.
Up strongly, Red Sky Energy (ASX:ROG) announced a 1,228% increase in best estimate on Petroleum Initially In Place (PIIP) at the ‘Killanoola’ oil project in South Australia up to 93mmbbls.
“This is a significant increase from the previously best estimated 7mmbbls PIIP,” MD Andrew Knox said. “We are working towards a market for the crude and steps to bring a rig in and perforate the additional zones of interest.”
YESTERDAY’S BIGGEST SMALL CAP LOSERS
(Stocks highlighted in yellow fell after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| ANL | Amani Gold Ltd | 0.0015 | -25% | 7,287,332 |
| JAV | Javelin Minerals Ltd | 0.0015 | -25% | 7,618,029 |
| MGTRE | Magnetite Mines - Rights 06-May-22 | 0.003 | -25% | 7,992,518 |
| VOL | Victory Offices Ltd | 0.105 | -25% | 295,316 |
| ZMM | Zimi Ltd | 0.007 | -22% | 20,005,223 |
| BWX | BWX Limited | 1.485 | -20% | 16,629,613 |
| PIL | Peppermint Inv Ltd | 0.015 | -17% | 38,703,633 |
| NZK | NZK Salmon Ltd | 0.22 | -15% | 104,967 |
| ROC | Rocketboots | 0.11 | -15% | 64,053 |
| ECG | Ecargo Hldg | 0.017 | -15% | 1,147 |
| NUC | Nuchev Limited | 0.3 | -14% | 20,629 |
| RTH | Ras Tech | 0.55 | -14% | 81,195 |
| SCT | Scout Security Ltd | 0.039 | -13% | 100,228 |
| OXT | Orexploretechnologie | 0.087 | -13% | 21,357 |
| JHG | Janus Henderson | 37.8 | -13% | 384,757 |
| VTG | Vita Group Ltd | 0.325 | -13% | 3,576,694 |
| AMD | Arrow Minerals | 0.0035 | -13% | 2,958,199 |
| CTO | Citigold Corp Ltd | 0.007 | -13% | 960 |
| ESH | Esports Mogul Ltd | 0.0035 | -13% | 1,485,250 |
| PVE | Po Valley Energy Ltd | 0.03 | -12% | 40,098 |
| BEZ | Besragoldinc | 0.046 | -12% | 169,126 |
| 99L | 99 Loyalty Ltd. | 0.048 | -11% | 59,063 |
| X2M | X2M Connect Limited | 0.125 | -11% | 10,000 |
| 1AG | Alterra Limited | 0.017 | -11% | 825,055 |
| VTI | Vision Tech Inc | 0.43 | -10% | 292,173 |