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Rise and Shine: Everything you need to know before the ASX opens
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Good morning everyone, on Stockhead today, who won the longest February in four years, Australian gold prospecting’s super couple, and an unlikely best performing commodity.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,044.12 (+0.47%)
Silver: US$22.66 (+0.91%)
Nickel (3mth): US$17,601/t (+0.81%)
Copper (3mth): US$8,448.50/t (-0.30%)
Oil (WTI): US$78.30 (-0.30%)
Oil (Brent): US$82.03 (+0.11%)
Iron 62pc Fe: US$124.86/t (-0.40%)
AUD/USD: 0.6501 (+0.05%)
Bitcoin: US$61,234 (+0.9%)
WHAT GOT YOU TALKING
This, and the fact someone’s now inherited 15,000 of very expensive red wine.
The Secret Broker: I can only describe how I found myself ‘sobbing like a nutter’ when I was informed that one of my old clients, Lord Rothschild, had died. https://t.co/knlBy3E6PO
— Stockhead (@StockheadAU) March 1, 2024
ASX SMALL CAP LEADERS
Friday’s best performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| ICL | Iceni Gold | 0.032 | 68.4 | 1,157,328 | $4,684,660 |
| H2G | Greenhy2 Limited | 0.010 | 66.7 | 1,394,175 | $2,512,535 |
| REM | Remsensetechnologies | 0.030 | 42.9 | 81,432 | $2,702,378 |
| SCN | Scorpion Minerals | 0.025 | 38.9 | 1,208,617 | $7,370,211 |
| 360 | Life360 Inc. | 11.230 | 37.6 | 8,247,405 | $1,668,454,718 |
| TD1 | Tali Digital Limited | 0.002 | 33.3 | 4,585,973 | $4,942,733 |
| AHN | Athena Resources | 0.004 | 33.3 | 6,771,068 | $3,211,403 |
| WWG | Wisewaygroupltd | 0.060 | 27.7 | 58,813 | $7,862,812 |
| AQI | Alicanto Min Ltd | 0.033 | 26.9 | 369,000 | $15,998,757 |
| IND | Industrialminerals | 0.265 | 26.2 | 123,863 | $14,439,600 |
| EDE | Eden Inv Ltd | 0.003 | 25.0 | 5,883,178 | $7,356,542 |
| HXG | Hexagon Energy | 0.015 | 25.0 | 405,184 | $6,154,991 |
| NRZ | Neurizer Ltd | 0.005 | 25.0 | 775,106 | $5,855,643 |
| PEC | Perpetual Res Ltd | 0.010 | 25.0 | 1,646,466 | $5,120,235 |
| OXT | Orexploretechnologie | 0.029 | 20.8 | 1,026,709 | $4,689,976 |
| ASR | Asra Minerals Ltd | 0.006 | 20.0 | 280,000 | $8,265,812 |
| ANR | Anatara Ls Ltd | 0.030 | 20.0 | 1,444,091 | $4,197,343 |
| IR1 | Irismetals | 0.580 | 19.6 | 840,750 | $62,824,466 |
| AON | Apollo Minerals Ltd | 0.025 | 19.0 | 140,000 | $14,623,201 |
| CC9 | Chariot Corporation | 0.320 | 18.5 | 53,532 | $22,082,317 |
| MXO | Motio Ltd | 0.032 | 18.5 | 85,000 | $7,241,355 |
| SRX | Sierra Rutile | 0.100 | 18.5 | 4,216,616 | $35,635,862 |
| BPH | BPH Energy Ltd | 0.026 | 18.2 | 9,152,337 | $24,146,060 |
| EMV | Emvision Medical | 2.650 | 17.8 | 320,380 | $175,403,502 |
| FTL | Firetail Resources | 0.049 | 16.7 | 21,307 | $6,254,033 |
Family safety app Life360 (ASX:360) announced its quarter and CY23 results including revenue of $305 million, a YoY increase of 33%, in line with guidance of $300 million-$310 million and core Life360 subscription revenue of $200 million, up 52% YoY. Net loss of $28.2 million was a $63.5 million improvement from CY22.
Focused on project development of low-emission fuels and energy materials Hexagon Energy Materials (ASX:HXG) progressed confidential commercial discussions with potential strategic partners regarding its WAH2 project and received indicative pricing for several key aspects of the project during the December quarter.
Syrah Resources (ASX:SYR) announced a binding offtake agreement with Posco Future M Co for natural graphite fines, from Syrah’s Balama Graphite Operations in Mozambique. Key terms of the offtake agreement include: Volume of up to 2kt per month (24kt) in the year following commissioning, and from 2kt per month (24kt per annum) to 5kt per month (60kt per annum) at the option of Posco Future M from the second year to the end of the term. The whole term of the deal is for six years.
Chariot Corporation (ASX:CC9) expanded its Black Mountain lithium project in Wyoming by 218 contiguous claims, resulting in a 206% increase in the project tenure area. The Black Mountain project now comprises 352 claims covering 2,686ha of tenure. Chariot has also increased its ownership interests in its Wyoming Lithium Portfolio to 93.9%
ASX SMALL CAP LAGGARDS
Friday’s worst performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| LNR | Lanthanein Resources | 0.004 | -30.0 | 31,865,038 | $6,449,060 |
| WEC | White Energy | 0.035 | -25.5 | 50 | $5,322,061 |
| HCD | Hydrocarbon Dynamic | 0.003 | -25.0 | 106,225 | $3,234,329 |
| IS3 | I Synergy Group Ltd | 0.006 | -25.0 | 10,000 | $2,432,643 |
| UCM | Uscom Limited | 0.023 | -23.3 | 764,118 | $5,716,007 |
| ATH | Alterity Therap Ltd | 0.004 | -20.0 | 10,100,000 | $21,913,774 |
| MGU | Magnum Mining & Exp | 0.016 | -20.0 | 4,049,846 | $16,187,228 |
| CTO | Citigold Corp Ltd | 0.004 | -20.0 | 3,000,000 | $15,000,000 |
| VBS | Vectus Biosystems | 0.200 | -20.0 | 10,982 | $13,302,340 |
| NAE | New Age Exploration | 0.004 | -20.0 | 2,603,021 | $8,969,495 |
| TMX | Terrain Minerals | 0.004 | -20.0 | 2,480,000 | $7,158,353 |
| CTN | Catalina Resources | 0.004 | -20.0 | 26,000 | $6,192,434 |
| RLC | Reedy Lagoon Corp. | 0.004 | -20.0 | 48,780 | $3,097,704 |
| NAG | Nagambie Resources | 0.024 | -17.2 | 744,136 | $23,102,435 |
| AHK | Ark Mines Limited | 0.145 | -17.1 | 3,602 | $9,703,122 |
| 88E | 88 Energy Ltd | 0.005 | -16.7 | 11,874,578 | $150,744,375 |
| M4M | Macro Metals Limited | 0.003 | -16.7 | 469,999 | $8,436,233 |
| TNY | Tinybeans Group Ltd | 0.105 | -16.0 | 47,455 | $10,548,418 |
| PTL | Prestal Holdings Ltd | 0.370 | -15.9 | 64,009 | $75,002,180 |
| PAA | Pharmaust Limited | 0.295 | -15.7 | 3,422,571 | $135,940,618 |
| SSH | Sshgroupltd | 0.110 | -15.4 | 21,996 | $8,566,981 |
| HT8 | Harris Technology Gl | 0.011 | -15.4 | 425,529 | $3,888,761 |
| NGS | NGS Ltd | 0.011 | -15.4 | 608,019 | $3,265,956 |
| AJL | AJ Lucas Group | 0.012 | -14.3 | 110,000 | $19,260,215 |
| AGH | Althea Group | 0.030 | -14.3 | 3,018,141 | $13,861,538 |
Nickel developer Centaurus Metals (ASX:CTM) was down more than 11% after announcing major changes to its DFS plans for its Jaguar mine in Brazil.
Previously planning to head all the way to nickel sulphate, the chemical derived from nickel sulphide used in EV batteries, instead it will only take its product to a concentrate in the initial stages of its mine life.
The aim is to bring both capex and opex costs down in the face of a surplus of nickel heading into the battery market from Indonesia, which has killed premiums for nickel sulphate and halved nickel prices over the past 18 months.
Centaurus says the decision to defer its downstream component wasn ‘not taken lightly’, fingering the ongoing weakness in the nickel market and softer nickel sulphate pricing against inflationary pressure for the call.
New Zealand King Salmon (ASX:NZK) says it has received the final government approval to proceed with an aquaculture project that will be a New Zealand-first, and also a world-first, in farming the King Salmon species in the open ocean. The company’s next step will be to complete an 18-month programme of rigorous benthic (seabed), seabird and marine mammal monitoring. This will provide a baseline of information, against which it can measure the impacts of a working salmon farm.
TRADING HALTS
Land and Homes (ASX:LHM) – LHM is suspended from quotation immediately at the request of LHM, pending LHM’s appointment of sufficient directors to comply with section 201A(2) of the Corporations Act 2001 (Cth).
At Stockhead, we tell it like it is. While European Lithium is a Stockhead advertiser, the company did not sponsor this article.
