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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, Lowell Resources Fund chief investment officer John Forwood on how he picked Azure at 27c, Scott Power gives Nadine McGrath nine healthcare picks to fill the Christmas stocking (NINE!), and why there’s hope for weed stocks in 2024.
But first, to the day ahead.
WHO’S LISTING TODAY?
Today we see the highly anticipated debut of Brazilian Rare Earths (ASX:BRE), which will hit the bourse at 11am AEDT after raising $50m at $1.47/sh.
The Gina Rinehart-backed stock is focused on the Monte Alto project in Bahia, Brazil, where a 25.2Mt resource grading 1% TREO has been defined.
Included in the resource is a high-grade core of 4.1Mt at 3.2%.
“This compelling resource is shallow, free dig and early metallurgical test work indicates that simple, low-cost processing techniques could be used to produce a valuable rare earth concentrate product,” the prospectus states.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,042.82 (+0.12%)
Silver: US$24.10 (+0.35%)
Nickel (3mth): US$16,502/t (-3.78%)
Copper (3mth): US$8,482.50/t (-0.78%)
Oil (WTI): US$74.22 (+0.37%)
Oil (Brent): US$79.41 (+0.25%)
Iron 62pc Fe: US$135/t (-0.37%)
AUD/USD: 0.6771 (+0.15%)
Bitcoin: US$42,824 (+0.77%)
TRADING HALTS
Godolphin Resources (ASX:GRL) – Answering ASX queries re announcement: “Godolphin to Sell Lewis Ponds and Mt Bulga for $11m”
Indiana Resources (ASX:IDA) – decision from the ICSID ad hoc Committee concerning the stay of enforcement of the Award against Tanzania
Hydrocarbon Dynamics (ASX:HCD) – capital raising
Savannah Goldfields (ASX:SVG) – capital raising
Riedel Resources (ASX:RIE) – capital raising
Live Verdure (ASX:LV1) – capital raising
Botala Energy (ASX:BTE) – capital raising
WHAT GOT YOU TALKING YESTERDAY?
First Lithium may have hit the motherlode:
First Lithium #FL1 is pleased to announce a Significant Discovery confirmed at #Blakala including 111m @ 1.57% Li2O
Spodumene mineralisation is high grade, outcrops at surface, and is open at depth and along strike pic.twitter.com/J2oLGKfmne
— First Lithium Ltd (@FirstLithiumLtd) December 19, 2023
And spot uranium is now paying US$90/lb. The boom cometh for uranium stocks! Hopefully.
Remember the 90’s?🕺💃 They’re back!😲 For the first time in 16 years👴 Spot #Uranium for #Nuclear fuel brokers ‘Uranium Markets’ surged +$2 today🚀 to close at $90/lb #U3O8🎇🎆with sellers asking $91🧀🐭 as @EvoMarkets surged $2.50 to $89🚀 & @Numerco surged $2 to $88.50🚀🤠🐂🚆 pic.twitter.com/0O3PuqhhSz
— John Quakes (@quakes99) December 19, 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 |
|---|---|---|---|---|---|
| FL1 | First Lithium Ltd | 0.61 | 53% | 12,192,535 | $28,020,667 |
| EMU | EMU NL | 0.0015 | 50% | 13,425,000 | $2,024,771 |
| ME1 | Melodiol Glb Health | 0.0015 | 50% | 14,420,112 | $4,728,824 |
| ETR | Entyr Limited | 0.013 | 44% | 36,419,048 | $17,847,935 |
| AAP | Australian Agri Ltd | 0.021 | 40% | 37 | $4,576,492 |
| WZR | Wisr Ltd | 0.032 | 39% | 99,859,040 | $31,386,135 |
| AUK | Aumake Limited | 0.004 | 33% | 5,000,000 | $5,743,220 |
| DCX | Discovex Res Ltd | 0.002 | 33% | 6,749,792 | $4,953,852 |
| LSR | Lodestar Minerals | 0.004 | 33% | 3,235,000 | $6,070,192 |
| PXX | Polarx Limited | 0.008 | 33% | 2,134,325 | $9,837,701 |
| SCT | Scout Security Ltd | 0.02 | 33% | 101,963 | $3,486,411 |
| CZN | Corazon Ltd | 0.017 | 31% | 255,600 | $8,002,773 |
| ENV | Enova Mining Limited | 0.013 | 30% | 36,017,502 | $6,409,293 |
| VML | Vital Metals Limited | 0.0065 | 30% | 33,929,965 | $29,475,335 |
| GRL | Godolphin Resources | 0.05 | 28% | 791,432 | $6,600,439 |
| MTC | Metalstech Ltd | 0.19 | 27% | 1,446,180 | $28,343,189 |
| ADS | Adslot Ltd. | 0.0025 | 25% | 250,000 | $6,448,991 |
| ASP | Aspermont Limited | 0.01 | 25% | 626,749 | $19,510,110 |
| BFC | Beston Global Ltd | 0.01 | 25% | 9,012,516 | $15,976,375 |
| SOP | Synertec Corporation | 0.18 | 24% | 987,442 | $62,566,911 |
| RVT | Richmond Vanadium | 0.335 | 24% | 5,864 | $23,276,108 |
| POS | Poseidon Nick Ltd | 0.011 | 22% | 25,544,729 | $33,421,813 |
| MXO | Motio Ltd | 0.033 | 22% | 660,000 | $7,241,355 |
| AZY | Antipa Minerals Ltd | 0.017 | 21% | 17,386,224 | $57,887,311 |
| BMO | Bastion Minerals | 0.017 | 21% | 5,865,164 | $2,928,174 |
First Lithium (ASX:FL1) said “significant discovery confirmed!” at Blakala, part of the Gouna project in Mali.
The first three holes included an outstanding 111m intersection @ 1.57% Li2O, including a 10m chunk grading 3.39% Li2O from 33m depth.
Tyre recycler Entyr (ASX:ETR) will sell 100% of its tyre pyrolysis oil, carbon char and recovered carbon black production to global commodities trader Trafigura.
Lodestar (ASX:LSR) completed a copper-gold drilling program at the Earaheedy project, with results due late January.
Godolphin (ASX:GRL) will sell its non-core Lewis Ponds and Mt Bulga projects in NSW for $11m.
GRL went into a trading halt after the ASX asked for more info on the vendor, Minerals Pty Ltd.
MetalsTech (ASX:MTC) says there could be a potential transaction involving its multi-million ounce Sturec gold mine in Slovakia.
It has engaged an advisor to oversee a process involving eight parties from China and another four of Western origin, “with discussions advanced at various stages and ongoing”.
Bastion Minerals (ASX:BMO) will buy a couple of lithium projects in the Gascoyne and Mt Ida regions, both popular addresses following Delta Lithium’s (ASX:DLI) recent exploration success.
And Antipa Minerals (ASX:AZY) has uncovered a new, very large coherent gold and pathfinder anomaly just 10km northeast of Newmont’s giant Telfer gold-copper-silver mine.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are the worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| RGS | Regeneus Ltd | 0.003 | -40% | 113,000 | $1,532,185 |
| JAV | Javelin Minerals Ltd | 0.002 | -33% | 471,531 | $3,264,347 |
| MCT | Metalicity Limited | 0.0015 | -25% | 253,364 | $8,970,108 |
| TMK | TMK Energy Limited | 0.007 | -22% | 6,285,713 | $55,103,214 |
| LRD | Lordresourceslimited | 0.05 | -21% | 287,944 | $2,339,324 |
| GBZ | GBM Rsources Ltd | 0.009 | -18% | 1,794,979 | $6,823,540 |
| ADG | Adelong Gold Limited | 0.005 | -17% | 206,666 | $4,077,934 |
| LBT | LBT Innovations | 0.01 | -17% | 596,791 | $15,116,124 |
| M2R | Miramar | 0.02 | -17% | 500,000 | $3,572,869 |
| MTB | Mount Burgess Mining | 0.0025 | -17% | 1,062,483 | $3,134,440 |
| SRN | Surefire Rescs NL | 0.008 | -16% | 5,462,894 | $18,649,999 |
| LYK | Lykosmetalslimited | 0.038 | -16% | 137,258 | $2,808,000 |
| AHN | Athena Resources | 0.003 | -14% | 220,000 | $3,746,636 |
| DVL | Dorsavi Ltd | 0.012 | -14% | 222,884 | $8,353,263 |
| MSG | Mcs Services Limited | 0.012 | -14% | 98,594 | $2,773,395 |
| PRX | Prodigy Gold NL | 0.006 | -14% | 2,968,127 | $12,257,755 |
| NFL | Norfolkmetalslimited | 0.215 | -14% | 238,285 | $8,831,249 |
| ADD | Adavale Resource Ltd | 0.007 | -13% | 539,208 | $5,972,709 |
| AVE | Avecho Biotech Ltd | 0.0035 | -13% | 250,069 | $12,677,188 |
| HLX | Helix Resources | 0.0035 | -13% | 835,370 | $9,292,583 |
| ODE | Odessa Minerals Ltd | 0.007 | -13% | 159,000 | $7,576,895 |
| RNX | Renegade Exploration | 0.007 | -13% | 428,571 | $7,997,790 |
| CXU | Cauldron Energy Ltd | 0.022 | -12% | 3,305,636 | $28,308,425 |
| SW1 | Swift Networks Group | 0.015 | -12% | 100,107 | $10,991,765 |
| PXA | Pexagroup | 10.93 | -12% | 2,512,436 | $2,195,825,732 |
Real estate stock PEXA Group (ASX:PXA) plunged after saying its acquisition of UK-based Smoove will add A$16-20m of revenues in 2H24– but reduce operating EBITDA by A$4-6m in the same period.
PEXA flagged weaker-than-expected FY24 revenue to come in between $315 to $325m.
