On Stockhead today, who was the bestest small cap on the ASX in January, another disastrous month for your lithium stocks, and will Evergrande’s collapse cripple iron ore and copper demand? No. No it won’t. (Spoiler.)

But first, the day ahead.

 

WHO’s LISTING?

The ASX is getting some much needed mid-tier copper exposure when CAD$4.6bn-capped Capstone Copper (TSX:CS) launches its secondary listing at 12pm Eastern Time with the code ASX:CSC.

2023 production of 165,000t from its US and Chilean mines – jumping to 190-220,000t in 2024 – means Capstone is potentially well placed in a simmering copper market.

It has a medium term production target of ~380,000tpa and, ambitiously, believes it can reduce all important operating costs over this period:

Source: Capstone Copper

 

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$2,055.05(+0.88%)

Silver: US$23.18 (+1.14%)

Nickel (3mth): US$16,269/t (-1.45%)

Copper (3mth): US$8,608.50/t (-0.08%)

Oil (WTI): US$73.91 (-2.55%)

Oil (Brent): US$78.85 (-2.10%)

Iron 62pc Fe: US$132.67/t (-1.82%)

AUD/USD: 0.6574 (+0.1%)

Bitcoin: US$43,032 (+1.57%)

 

TRADING HALTS

These stocks went into trading halts yesterday and are expected out in the coming days:

Advanced Health Intelligence (ASX:AHI) – announcement of various potential funding solutions referred to in the company’s Quarterly Commentary

Regis Resources (ASX:RRL) – commencement of proceedings claiming a royalty applies to the Tropicana gold project

NeuRizer (ASX:NRZ) – update regarding amounts owing to DL E&C and negotiations to extend the payment date

Moab Minerals (ASX:MOM) – proposed acquisition

IODM (ASX:IOD) – a material revenue event

Metcash (ASX:MTS) – potential acquisition of Superior Food Group

Jayride Group (ASX:JAY) – capital raising

Unith (ASX:UNT) – capital raising

Silver Mines (ASX:SVL) – capital raising

Basin Energy (ASX:BSN) – material capital raising

Legacy Iron Ore (ASX:LCY) – material capital raising

BCI Minerals (ASX:BCI) – capital raising

Viridis Mining and Minerals (ASX:VMM) – capital raising

EP&T Global (ASX:EPX) – capital raising

RocketBoots (ASX:ROC) – capital raising

Linius Technologies (ASX:LNU) – capital raising

Yandal Resources (ASX:YRL) – capital raising

Bluechiip (ASX:BCT) – capital raising

 

WHAT GOT YOU TALKING YESTERDAY?

World #1 uranium producer Kazatomprom has just slashed 2024 production guidance. And you thought this market couldn’t get any hotter.

 

Searching for a lithium bottom? Morgan’s says “the downcycle [is] largely played out, presenting some attractive opportunities”.

And this:

“…we expect lithium prices are nearing a floor, with the current rapid decline likely to moderate this half.”

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 10.40am for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.

 

YESTERDAY’S ASX SMALL CAP LEADERS

Here are Thursday’s best performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume MARKET CAP
MRC Mineral Commodities 0.028 87% 416,193 $14,767,089
SHG Singular Health 0.15 60% 5,943,163 $13,283,165
BPM BPM Minerals 0.12 50% 2,097,437 $5,369,777
GES Genesis Resources 0.006 50% 85,650 $3,131,365
M4M Macro Metals Limited 0.003 50% 500,000 $4,934,156
CPO Culpeominerals 0.072 47% 28,271,880 $6,653,746
RDM Red Metal Limited 0.13 35% 7,387,398 $28,639,040
POD Podium Minerals 0.031 29% 4,111,249 $10,913,923
OSL Oncosil Medical 0.009 29% 12,438,445 $13,821,788
TMG Trigg Minerals Ltd 0.009 29% 41,671 $2,623,293
CTN Catalina Resources 0.005 25% 50,000 $4,953,948
GBZ GBM Rsources Ltd 0.01 25% 4,797,451 $5,851,463
HCD Hydrocarbon Dynamic 0.005 25% 200,000 $3,078,664
ROG Red Sky Energy. 0.005 25% 38,001 $21,208,909
TML Timah Resources Ltd 0.045 25% 873 $3,195,351
COB Cobalt Blue Ltd 0.175 21% 765,556 $54,492,017
DGR DGR Global Ltd 0.018 20% 128,699 $15,655,402
GCX GCX Metals Limited 0.042 20% 795,893 $8,252,254
SPX Spenda Limited 0.018 20% 19,452,063 $64,686,867
ASR Asra Minerals Ltd 0.006 20% 2,957,549 $8,182,479
IBG Ironbark Zinc Ltd 0.006 20% 1,207,148 $7,969,363
NET Netlinkz Limited 0.006 20% 485,372 $19,392,242
NSM Northstaw 0.048 20% 65,417 $5,595,031
GSM Golden State Mining 0.013 18% 352,003 $3,073,077
HIQ Hitiq Limited 0.02 18% 1,521,553 $5,981,364
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Red Metal (ASX:RDM) says the Sybella rare earths discovery in Queensland is a heap leachable source of rare earth oxide (REO) minerals “with the potential for highly competitive capital and operating costs”.

Heap leaching is a low-cost process whereby a mound of ore is irrigated with acid to dissolve the metal, which is collected in a pond or tank.

Medical tech company Singular Health Group (ASX:SHG) received a binding purchase order worth about $150,000.

And a double banger for cancer fighter Oncosil (ASX:OSL) as it inks new distribution rights for the OncoSil device in the Turkish market and fields growing demand from German hospitals.

 

YESTERDAY’S ASX SMALL CAP LAGGARDS

Here are Thursday’s worst performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume MARKET CAP
DXN DXN Limited 0.001 -50% 3,484,622 $5,546,680
VPR Volt Power Group 0.001 -50% 535,709 $21,432,416
IBX Imagion Biosys Ltd 0.11 -35% 642,325 $5,549,914
KGD Kula Gold Limited 0.006 -33% 27,453,467 $3,808,907
RR1 Reach Resources Ltd 0.002 -33% 5,883,892 $9,630,891
AUK Aumake Limited 0.003 -25% 6,259 $7,657,627
JTL Jayex Technology Ltd 0.006 -25% 2,921,691 $2,250,228
KPO Kalina Power Limited 0.003 -25% 29,652 $8,840,512
PKO Peako Limited 0.003 -25% 224,000 $2,108,339
TSI Top Shelf 0.21 -24% 163,551 $57,179,612
AUR Auris Minerals Ltd 0.007 -22% 600,000 $4,289,634
ARD Argent Minerals 0.008 -20% 4,651,423 $12,917,590
BFC Beston Global Ltd 0.008 -20% 16,920,839 $19,970,469
LSR Lodestar Minerals 0.002 -20% 1,267,500 $5,058,493
NAE New Age Exploration 0.004 -20% 119,628 $8,969,495
RLC Reedy Lagoon Corp. 0.004 -20% 41,570 $3,097,704
VML Vital Metals Limited 0.004 -20% 22,124,047 $29,475,335
WEL Winchester Energy 0.002 -20% 100,000 $2,551,055
IR1 Irismetals 0.565 -19% 536,579 $90,639,487
NGS NGS Ltd 0.013 -19% 1,288,993 $4,019,638
RSH Respiri Limited 0.022 -19% 188,615 $28,616,461
EXL Elixinol Wellness 0.009 -18% 1,518,365 $6,961,588
STN Saturn Metals 0.135 -18% 690,079 $36,852,784
AXN Alliance Nickel Ltd 0.032 -18% 92,095 $28,307,745
CAZ Cazaly Resources 0.019 -17% 1,351,507 $10,456,635
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Kula Gold (ASX:KGD) says recent drilling at the Cobra prospect failed to hit economic lithium mineralisation.

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