The steaks are high heading into 2024. Pic: Via Getty
Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today Tim Boreham’s 12 top small cap picks for 2024, Chart of the Day, and iron ore – can the surprise packet of 2023 continue to shock?
But first, the day ahead.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,062.59 (-0.21%)
Silver: US$23.76 (-0.72%)
Nickel (3mth): US$16,938/t (+2.60%)
Copper (3mth): US$8,690.50/t (+1.36%)
Oil (WTI): US$71.65 (-0.17%)
Oil (Brent): US$77.04 (-0.14%)
Iron 62pc Fe: US$142.50/t (0.00%)
AUD/USD: 0.6810 (0.00%)
Bitcoin: US$42,620 (+0.30%)
WHAT GOT YOU TALKING OVER THE WEEKEND?
The largest EV maker in the world, China’s BYD, hit its 2023 target of 3m EVs sold.
That’s up from 1.9m in 2022.
BYD sells record 341,043 NEVs in Dec, reaches full-year 3 million targethttps://t.co/Y8sWJOUa8Y$BYDDY $BYDDF
— CnEVPost (@CnEVPost) January 1, 2024
Can uranium equities have a big year in 2024?
🎆The final results are in📊and #Uranium, surpassing over 90 tracked commodities on TradingEconomics, is the World’s Top Performing Commodity of 2023🥇🌎⚛️⛏️”this is merely the inception of a historic rally.. with prices poised for further escalation”📈🤠🐂https://t.co/bmcPjKgJlf pic.twitter.com/LH5wG4nQlc
— John Quakes (@quakes99) December 31, 2023
Keep up to date with Stockhead coverage or you’ll miss gold like that EVERY DAY. Follow our Twitter page.
Also, be sure to check in at preopen each day for ‘Market Highlights and 5 ASX Small Caps to Watch’, and 10.30am for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.
FRIDAY’S SMALL CAP LEADERS
Friday’s best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MTM | MTM Critical Metals | 0.065 | 51% | 25,645,318 | $4,275,795 |
| EMU | EMU NL | 0.0015 | 50% | 232,237 | $2,024,771 |
| MTL | Mantle Minerals Ltd | 0.003 | 50% | 15,520,096 | $12,394,892 |
| ICG | Inca Minerals Ltd | 0.013 | 30% | 114,990 | $5,844,355 |
| EYE | Nova EYE Medical Ltd | 0.24 | 26% | 4,243,904 | $36,219,490 |
| BGE | Bridgesaaslimited | 0.05 | 25% | 260,000 | $4,775,882 |
| SKN | Skin Elements Ltd | 0.005 | 25% | 964,127 | $2,357,944 |
| AML | Aeon Metals Ltd. | 0.011 | 22% | 71,999 | $9,867,606 |
| ZEU | Zeus Resources Ltd | 0.011 | 22% | 2,279,635 | $4,133,529 |
| 1TT | Thrive Tribe Tech | 0.018 | 20% | 1,096,323 | $4,449,323 |
| ETR | Entyr Limited | 0.018 | 20% | 31,035,324 | $29,746,558 |
| ECT | Env Clean Tech Ltd. | 0.006 | 20% | 1,013,822 | $14,321,552 |
| HPC | Thehydration | 0.024 | 20% | 160,000 | $5,302,836 |
| WZR | Wisr Ltd | 0.048 | 20% | 9,203,107 | $54,584,583 |
| SQX | SQX Resources Ltd | 0.13 | 18% | 4,230 | $2,750,000 |
| GPR | Geopacific Resources | 0.02 | 18% | 64,615 | $13,969,195 |
| CMX | Chemxmaterials | 0.082 | 17% | 96,593 | $3,726,279 |
| CPO | Culpeominerals | 0.035 | 17% | 1,017,024 | $3,496,871 |
| FGH | Foresta Group | 0.014 | 17% | 121,679 | $26,938,649 |
| CYM | Cyprium Metals Ltd | 0.03 | 15% | 3,362,714 | $39,642,520 |
| YAR | Yari Minerals Ltd | 0.0115 | 15% | 2,723,535 | $4,823,578 |
| BSE | Base Res Limited | 0.155 | 15% | 2,734,472 | $159,031,600 |
| ATR | Astron Corp Ltd | 0.705 | 15% | 86,428 | $96,422,295 |
| ASR | Asra Minerals Ltd | 0.008 | 14% | 312,384 | $11,402,970 |
| EXT | Excite Technology | 0.008 | 14% | 374,957 | $9,304,692 |
Some great late 2023 news for Nova Eye Medical (ASX:EYE), which says its portfolio of canaloplasty devices will continue to be reimbursed after USA Medicare changes were withdrawn.
The changes, due to come into effect January 2024, proposed to restrict or deny coverage for several procedures, including canaloplasty.
Tyre recycling co Entyr (ASX:ETR) says it could earn ~$18m a year via its offtake deal with Trafigura, announced earlier this month.
Based on early market feedback, it anticipates “acceptable” market prices of ~$200/t for recovered carbon black and $750/t for oil.
The $30m capped stock is now up 90% over the past few weeks.
Mineral sands play Astron (ASX:ATR) continued to gain after yesterday inking a non-binding deal with the US’ largest uranium producer, Energy Fuels, to jointly develop the 2.6 billion tonne Donald rare earths and mineral sands project in Victoria.
And remember battery materials stock Novonix (ASX:NVX)?
The one-time highflier has ended 2023 on a promising note, after a ghastly two-year run saw its market cap plunge from ~$5bn to just $370m today.
FRIDAY’S SMALL CAP LAGGARDS
Friday’s worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ADS | Adslot Ltd. | 0.002 | -33% | 2,000,002 | $9,673,487 |
| AMM | Armada Metals | 0.028 | -26% | 63,702 | $7,904,000 |
| 1AG | Alterra Limited | 0.006 | -25% | 2,077,198 | $6,657,177 |
| FAU | First Au Ltd | 0.003 | -25% | 27,576 | $6,647,973 |
| PNX | PNX Metals Limited | 0.003 | -25% | 8,002,209 | $21,522,499 |
| VAL | Valor Resources Ltd | 0.003 | -25% | 610,977 | $16,693,339 |
| PUR | Pursuit Minerals | 0.007 | -22% | 2,356,149 | $26,495,743 |
| KNM | Kneomedia Limited | 0.002 | -20% | 100 | $3,833,178 |
| MKL | Mighty Kingdom Ltd | 0.014 | -18% | 1,229,246 | $7,146,283 |
| AMD | Arrow Minerals | 0.005 | -17% | 48,665,510 | $20,842,591 |
| IVX | Invion Ltd | 0.005 | -17% | 8,825 | $38,529,793 |
| MSG | Mcs Services Limited | 0.01 | -17% | 390,000 | $2,377,196 |
| MCL | Mighty Craft Ltd | 0.017 | -15% | 1,243,887 | $7,302,643 |
| ADY | Admiralty Resources. | 0.006 | -14% | 355,327 | $9,125,054 |
| EEL | Enrg Elements Ltd | 0.006 | -14% | 2,000,000 | $7,069,755 |
| IS3 | I Synergy Group Ltd | 0.006 | -14% | 150,112 | $2,128,563 |
| ADD | Adavale Resource Ltd | 0.007 | -13% | 1,218,799 | $5,972,709 |
| GSR | Greenstone Resources | 0.007 | -13% | 323,529 | $10,944,908 |
| MHC | Manhattan Corp Ltd | 0.0035 | -13% | 224,360 | $11,747,919 |
| SRZ | Stellar Resources | 0.007 | -13% | 49,400 | $9,192,212 |
| NYM | Narryermetalslimited | 0.07 | -13% | 100,000 | $3,839,486 |
| LGM | Legacy Minerals | 0.12 | -11% | 201,527 | $12,631,618 |
| X2M | X2M Connect Limited | 0.04 | -11% | 5,665 | $8,216,705 |
| BLZ | Blaze Minerals Ltd | 0.008 | -11% | 375,000 | $5,657,024 |
| RKT | Rocketdna Ltd. | 0.008 | -11% | 453,995 | $5,870,034 |
