Rise and Shine: Everything you need to know before the ASX opens

On Stockhead today, junior oil JV targets, is BHP really dodging a lithium bubble and Argosy Minerals’ Jerko Zuvela on why it does lithium differently.

But first, the day ahead.

WHO’S LISTING?

SOUTHERN CROSS GOLD (ASX:SXG)

Scheduled to list:  11:20am AEST

IPO: Raised $10m at 20c per share

The spin-out of TSX-listed Mawson Gold holds the ‘Sunday Creek’ project in Victoria and ‘Mt Isa’ project in Queensland; is involved in the ‘Redcastle’ and ‘Whroo’ joint ventures in Victoria; and owns 10% of Nagambie Resources (ASX:NAG) (“Nagambie”) which grants it a right of first refusal over a 3,300sqkm tenement package held by NAG in Victoria.

Michael Hudson, Southern Cross founder and managing director, said roughly $6m has been spent on drilling and exploration across the project portfolio over the past two years.

“The drill rig has continued to spin right through the IPO process with results available soon after listing,” he said mid-April.

TRADING HALTS

The following companies are in trading halts or suspension and are expected out in the next few days:

Step One Clothing (ASX: STP) – results guidance for the year ending 30 June 2022.

Talon Energy (ASX:TPD)  – update regarding preliminary drilling results from the Walyering-6 well in the Perth Basin

Tyranna Resources (ASX:TYL) – proposed capital raising and project acquisition

Ragnar Metals (ASX:RAG) – exploration results from the Swedish drilling program

Australian Strategic Materials (ASX:ASM) – equity funding agreement and revisions to a framework agreement

MPower Group (ASX:MPR)  – finalisation of a proposed acquisition

Blue Star Helium (ASX:BNL) – drilling results

AVZ Minerals (ASX:AVZ) – an announcement in relation to its mining and exploration rights for the Manono lithium and tin project

Wiluna Mining Corp (ASX:WMC) – capital raising

MARKETS

Gold: $US1,811.28 (-0.57%)

Silver: $US21.092 (2.08%)

Nickel (3mth): $US27,810/t (0.00%)

Copper (3mth): $US9,041.00/t (0.00%)

Lithium Carbonate, China (Benchmark Minerals Intelligence, May 12): $US72,175/t (-3.3% weekly)

Lithium Hydroxide, China (Benchmark Minerals Intelligence, May 12): $US72,775/t (-1.7% weekly)

Oil (WTI): $US110.49 (+4.1%)

Oil (Brent): $US111.36 (+3.64%)

Iron 62pc Fe: $US124.50 (+1.22%)

AUD/USD: $US0.6943 (+1.25%)

Bitcoin: $US29,749.30(-1.06%)

WHAT GOT YOU TALKING OVER THE WEEKEND?

The precipitous drops across the crypto sector seem to have slowed, with a number of commentators talking up a possible calming of the market as prices started to bounce.

This expert, not so much.

The Terra/Luna demise was not crypto’s Lehman Moment. It was the two Bear Stearns subprime funds going belly up beforehand. The real Lehman is Tether. pic.twitter.com/Y57JQ87Awp

— Concoda (@concodanomics) May 14, 2022

 

And is our biggest export partner reopening? Could be a good sign for Aussie commodity prices.

*SHANGHAI TO STAT GRADUALLY REOPENING MALLS, OTHER BUSINESSES AMID COVID LOCKDOWNS – https://t.co/hoxmLS5E44

pic.twitter.com/oBsbL5OQpk

— Investing.com (@Investingcom) May 15, 2022

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For all you crypto lovers Stockhead’s Coinhead Facebook group is the place to share your views, insights, tips and ideas.

Also, be sure to check in at 10.20am each day for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.

 

LAST WEEK’S SMALL CAP WINNERS

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Mark Creasy-backed Galileo Mining (ASX:GAL) exploded out of the blocks after announcing a major palladium-platinum discovery at the ‘Norseman’ project in WA.

The discovery hole at the ‘Callisto’ prospect returned a 33m-long intersection grading 2g/t 3E (1.64g/t palladium, 0.28g/t platinum, 0.09g/t gold), 0.32% copper & 0.30% nickel from 144m.

This 33m assayed intersection occurs within a wider 55m disseminated sulphide zone (126–181m) “indicating the potential for a large mineralised system”, GAL says.

Polynovo (ASX:PNV) had a cracking run sparked by some inside buying led by chair David Williams, who via an entity bought some $228,000 worth of Polynovo stock.

Xref (ASX:XF1) has gained strongly after the HR tech software firm was picked out by Coles (ASX:COL) to do its identity and working rights employee checks.

LAST WEEK’S SMALL CAP LOSERS

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