Rise and Shine: Everything you need to know before the ASX opens
Pic: Via getty
On Stockhead today, is this the most overlooked small cap health stock on the ASX? And finally, copper gets some love from the EV transitioners.
But first, the day ahead.
TRADING HALTS
These stocks went in halts yesterday and are due out in the coming days
Sierra Rutile (ASX:SRX) – negotiations with Government of Sierra Leone on the Third Amendment Agreement fiscal arrangements.
Anax Metals (ASX:ANX) – response to a price and volume query from the ASX, and a capital raising.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,029.13 (+0.40%)
Silver: US$22.44 (+1.63%)
Nickel (3mth): US$16,007/t (-0.18%)
Copper (3mth): US$8,345.50/t (-0.07%)
Oil (WTI): US$74.55 (-0.27%)
Oil (Brent): US$79.73 (-0.41%)
Iron 62pc Fe: US$135.48/t (+0.04%)
AUD/USD: 0.6583 (+0.16%)
Bitcoin: US$39,282 (-1.76%)
WHAT GOT YOU TALKING YESTERDAY?
The boss of WA nickel and PGE hopeful Chalice Mining (ASX:CHN) says global automotive sales would need to collapse for metals prices to stay at current low levels.
“…we have to see a rebound in the palladium price, otherwise the market is effectively forecasting a complete collapse in new vehicle sales.”
.@ChaliceMining’s Alex Dorsch says #palladium prices must go higher ‘in the near term’ and says #nickel prices that have brought WA’s miners to their knees are unsustainable. | (#ASX:$CHN) https://t.co/d7xwmlCTCZ
— Stockhead (@StockheadAU) January 22, 2024
Meanwhile there’s no slowdown in EV sales, says Bloomberg.
Total sale of #EV shows there is no slow down.
Expect #lithium to be required like FE is @LoyalLithium
Next to bhag pic.twitter.com/3cnPVcxWLu— West_Perth_Ponderer (@ASX_invest) January 18, 2024
Case in point:
BYD officially overtakes Volkswagen as China’s best-selling car brand in 2023, clear evidence its all-in bet on electric vehicles in the world’s biggest automobile market is paying dividends https://t.co/7Pdpl2N5kT
— Bloomberg Markets (@markets) January 23, 2024
Keep up to date with Stockhead coverage or you’ll miss gold like that EVERY DAY. Follow our X 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.
YESTERDAY’S SMALL CAP LEADERS
Tuesday’s best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| CBE | Cobre | 0.071 | 73% | 52,051,586 | $11,763,351 |
| MSG | Mcs Services Limited | 0.015 | 50% | 645,243 | $1,980,997 |
| TNC | True North Copper | 0.1 | 47% | 9,428,457 | $26,169,219 |
| BXN | Bioxyne Ltd | 0.016 | 33% | 832,256 | $22,819,745 |
| GGE | Grand Gulf Energy | 0.009 | 29% | 27,906,573 | $14,666,729 |
| COY | Coppermoly Limited | 0.014 | 27% | 1,713,037 | $7,657,490 |
| NMR | Native Mineral Res | 0.029 | 21% | 1,112,936 | $5,034,012 |
| AYT | Austin Metals Ltd | 0.006 | 20% | 538,518 | $6,134,373 |
| WTM | Waratah Minerals Ltd | 0.095 | 19% | 285,499 | $11,949,160 |
| BTE | Botala Energy | 0.089 | 19% | 293,896 | $6,176,416 |
| HTA | Hutchison | 0.039 | 18% | 55,000 | $447,892,783 |
| JDO | Judo Cap Holdings | 1.0975 | 17% | 5,228,338 | $1,037,196,279 |
| FDV | Frontier Digital Ltd | 0.52 | 17% | 296,630 | $192,776,818 |
| AHF | Aust Dairy Limited | 0.014 | 17% | 3,025,906 | $7,756,402 |
| CCO | The Calmer Co International | 0.007 | 17% | 2,443,869 | $5,144,971 |
| MTB | Mount Burgess Mining | 0.0035 | 17% | 103,407 | $3,134,440 |
| NOX | Noxopharm Limited | 0.078 | 16% | 120,778 | $19,579,943 |
| FFG | Fatfish Group | 0.05 | 16% | 23,525,531 | $59,780,307 |
| ARN | Aldoro Resources | 0.095 | 16% | 95,472 | $11,039,147 |
| TYX | Tyranna Res Ltd | 0.015 | 15% | 1,980,551 | $42,736,529 |
| MRL | Mayur Resources Ltd | 0.23 | 15% | 2,675,539 | $67,220,239 |
| TBN | Tamboran | 0.1725 | 15% | 525,541 | $309,043,080 |
| CL8 | Carly Holdings Ltd | 0.016 | 14% | 51,400 | $3,757,185 |
| EFE | Eastern Resources | 0.008 | 14% | 75,000 | $8,693,625 |
| RGS | Regeneus Ltd | 0.008 | 14% | 8,019 | $2,145,058 |
BHP will give African explorer Cobre (ASX:CBE) US$500,000 as part of its 2024 Xplor program.
CBE intends to use the cash to assess and progress targets which have the potential to host tier-one copper-silver deposits. Fellow recipient Hamelin Gold (ASX:HMG) also made strong gains.
Tim Goyder and Stuart Tonkin-backed Waratah Minerals (ASX:WTM) is drilling at the Spur project in NSW’s Lachlan Fold, down dip from big hits like 86m @ 1.56g/t Au, 536ppm Cu.
First assay results are expected March 2024.
True North Copper (ASX:TNC) signed binding offtake and toll-milling agreements with one of the world’s largest miners, Glencore, for its Cloncurry copper project in Queensland.
Health and wellness stock The Calmer Co (ASX:CCO) says December ecommerce sales have again materially increased and now have surpassed $250,000.
And neobank Judo Capital (ASX:JDO) says December half profit before tax (PBT) was $67m, up 24%, and “ahead of company compiled consensus”. Judo expects second half PBT of $40m–$45m, resulting in FY24 PBT of $107m-$112m.
YESTERDAY’S SMALL CAP LAGGARDS
Tuesday’s worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ME1 | Melodiol Global Health | 0.001 | -50% | 389,172,765 | $9,833,237 |
| YPB | YPB Group Ltd | 0.001 | -50% | 4,400 | $1,580,923 |
| GCR | Golden Cross | 0.002 | -33% | 4,769,211 | $3,291,768 |
| JAV | Javelin Minerals Ltd | 0.0015 | -25% | 464,132 | $3,267,458 |
| LNR | Lanthanein Resources | 0.006 | -25% | 13,441,309 | $10,318,495 |
| WML | Woomera Mining Ltd | 0.006 | -25% | 21,993,565 | $9,745,112 |
| PEC | Perpetual Res Ltd | 0.0085 | -23% | 6,758,823 | $7,040,324 |
| MI6 | Minerals260Limited | 0.175 | -22% | 1,047,314 | $52,650,000 |
| AIV | Activex Limited | 0.012 | -20% | 100,000 | $3,232,539 |
| AAJ | Aruma Resources Ltd | 0.02 | -20% | 152,703 | $4,922,288 |
| CTO | Citigold Corp Ltd | 0.004 | -20% | 283,500 | $15,000,000 |
| S3N | Sensore Ltd | 0.047 | -19% | 1,102,941 | $2,110,808 |
| EDU | EDU Holdings Limited | 0.11 | -19% | 112,544 | $22,303,950 |
| LM8 | Lunnon Metals | 0.285 | -17% | 934,088 | $74,912,313 |
| MXC | MGC Pharmaceuticals | 0.32 | -17% | 65,881 | $16,882,878 |
| CST | Castile Resources | 0.07 | -17% | 426,739 | $20,319,804 |
| TTT | Titomic Limited | 0.035 | -17% | 3,863,983 | $38,335,152 |
| G50 | Gold50Limited | 0.1 | -17% | 147,763 | $13,114,800 |
| PNT | Panther Metals | 0.05 | -17% | 60,000 | $5,101,500 |
| IEC | Intra Energy Corp | 0.0025 | -17% | 687,778 | $4,982,345 |
| PRX | Prodigy Gold NL | 0.005 | -17% | 3,404,730 | $10,506,647 |
| RMX | Red Mount Min Ltd | 0.0025 | -17% | 931,416 | $8,020,728 |
| VML | Vital Metals Limited | 0.005 | -17% | 1,426,796 | $35,370,402 |
| WA8 | Warriedar Resources | 0.041 | -16% | 913,655 | $25,010,673 |
| OEC | Orbital Corp Limited | 0.088 | -16% | 137,484 | $15,309,707 |
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