On Stockhead today, we made Rob Badman travel 1.5km underground so you wouldn’t have to. (Also because he’s the shortest.) And Nadine McGrath’s had a look at which directors are buying into their own games.
But first the day ahead.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,182.58/oz (+0.23%)
Silver: US$24.36/oz (+0.25%)
Nickel (3mth): US$18,001/t (+0.16%)
Copper (3mth): US$8,579.50/t (-0.71%)
Oil (WTI): US$78 (0%)
Oil (Brent): US$82.22 (+0.12%)
Iron 62pc Fe: US$117.50/t (-0.84%)
AUD/USD: 0.6618 (-0.13%)
Bitcoin: US$71,299 (+2.70%)
TRADING HALTS
These stocks went into trading halts yesterday and are expected out in the coming days:
Black Dragon Gold Corp (ASX:BDG) – placement
Kingsland Minerals (ASX:KNG) – Maiden resource at the Leliyn graphite project
Mt Malcolm Mines NL (ASX:M2M) – anomalous, high grade ore results
Mighty Kingdom (ASX:MKL) – capital raising
Dimerix (ASX:DXB) – capital raising
WHAT GOT YOU TALKING YESTERDAY?
In December, Aussie crypto exchange bosses prophesied ‘an awesome ride’ for crypto in 2024.
Since then, Bitcoin has gained almost 50%, or US$23,250.
Meanwhile, gold is also ripping higher.
When will stocks wake up?
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 Monday’s best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| RR1 | Reach Resources Ltd | 0.004 | 100% | 67,247,954 | $6,420,594 |
| TSK | Task Group Holdings | 0.765 | 91% | 8,919,114 | $142,515,309 |
| INP | Incentiapay Ltd | 0.007 | 75% | 1,659,484 | $4,975,720 |
| IS3 | I Synergy Group Ltd | 0.014 | 56% | 2,612,078 | $2,736,723 |
| MAG | Magmatic Resrce Ltd | 0.09 | 45% | 5,760,174 | $18,952,953 |
| ESR | Estrella Res Ltd | 0.005 | 43% | 15,063,597 | $6,157,802 |
| BTN | Butn Limited | 0.13 | 34% | 33,698 | $17,752,804 |
| AHN | Athena Resources | 0.004 | 33% | 379,907 | $3,211,403 |
| NYR | Nyrada Inc. | 0.1025 | 28% | 8,470,585 | $12,480,696 |
| 1TT | Thrive Tribe Tech | 0.028 | 27% | 1,739,914 | $6,525,673 |
| MCT | Metalicity Limited | 0.0025 | 25% | 400,000 | $8,970,108 |
| NAE | New Age Exploration | 0.005 | 25% | 955,000 | $7,175,596 |
| TMR | Tempus Resources Ltd | 0.005 | 25% | 100,000 | $2,923,995 |
| TMX | Terrain Minerals | 0.005 | 25% | 4,901,130 | $5,726,683 |
| MX1 | Micro-X Limited | 0.1275 | 21% | 1,437,459 | $54,476,139 |
| BMR | Ballymore Resources | 0.12 | 20% | 54,784 | $17,633,059 |
| OAU | Ora Gold Limited | 0.006 | 20% | 108,322 | $28,700,004 |
| TX3 | Trinex Minerals Ltd | 0.006 | 20% | 1,000,000 | $7,435,123 |
| CR1 | Constellation Res | 0.13 | 18% | 60,000 | $5,489,597 |
| SGA | Sarytogan | 0.26 | 18% | 1,648,875 | $16,928,980 |
| NGS | NGS Ltd | 0.013 | 18% | 819,814 | $2,763,501 |
| SPQ | Superior Resources | 0.013 | 18% | 7,393,387 | $22,013,425 |
| DAL | Dalaroo Metals | 0.02 | 18% | 326,566 | $1,406,750 |
| IKE | Ikegps Group Ltd | 0.445 | 17% | 24,283 | $60,892,331 |
US based PARTech lobbed an 81c a pop offer at hospitality tech stock Task Group Holdings (ASX:TSK) which is easily double its closing price of just under 39c on Friday last week.
Aspiring WA lithium major Delta (ASX:DLI) will pay up to ~$13m over the next several years to earn into neighbouring ground owned by minnow Reach Resources (ASX:RR1).
RR1 gained ~100% in the news.
“To receive $3.2M cash up front, and a further $10M cash/script if a successful JORC mineral resource delineation of equal to or greater than 7.5Mt at 0.8% Li2O (at a 0.5% cut off grade) is achieved, is a great result during these difficult market conditions,” RR1 CEO Jeremy Bower says.
Small cap explorer Terrain Minerals (ASX:TMX) returned “highly encouraging” rare earth and gallium drill results from the first batch of assays at Larin’s Lane project in the Midwest region of WA.
With only 4 of 101 holes fully assayed TMX has returned hits like 13m at 1069ppm rare earths from 80m, and 20m at 48g/t gallium from 4m.
Used in semiconductors and other tech, gallium hit headlines after world’s largest producer China announced export controls last year.
This has boosted prices for the obscure metal, which was paying US$755.80/kg in January 2024, up from US$640.80/kg in January 2023.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are Monday’s worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| AXP | AXP Energy Ltd | 0.001 | -50% | 275,510 | $11,649,361 |
| JAV | Javelin Minerals Ltd | 0.001 | -50% | 276,539 | $4,352,462 |
| NAG | Nagambie Resources | 0.015 | -40% | 5,884,100 | $19,915,892 |
| LRL | Labyrinth Resources | 0.004 | -33% | 1,870,619 | $7,125,262 |
| FTL | Firetail Resources | 0.041 | -29% | 3,419 | $8,636,522 |
| CT1 | Constellation Tech | 0.0015 | -25% | 200 | $2,949,467 |
| MRD | Mount Ridley Mines | 0.0015 | -25% | 995,624 | $15,569,766 |
| MTL | Mantle Minerals Ltd | 0.0015 | -25% | 6,256,753 | $12,394,892 |
| NES | Nelson Resources | 0.003 | -25% | 4,285,277 | $2,454,377 |
| VPR | Volt Power Group | 0.0015 | -25% | 532,739 | $21,432,416 |
| LML | Lincoln Minerals | 0.005 | -23% | 1,330,460 | $11,076,294 |
| EEL | Enrg Elements Ltd | 0.007 | -22% | 175,000 | $9,089,685 |
| CKA | Cokal Ltd | 0.075 | -21% | 3,180,772 | $102,500,153 |
| LYK | Lykos Metals | 0.027 | -21% | 81,214 | $6,404,089 |
| HTM | High-Tech Metals Ltd | 0.12 | -20% | 10,641 | $3,712,723 |
| CTN | Catalina Resources | 0.004 | -20% | 419,525 | $6,192,434 |
| CTO | Citigold Corp Ltd | 0.004 | -20% | 5,796,825 | $15,000,000 |
| EDE | Eden Inv Ltd | 0.002 | -20% | 14,020 | $9,195,678 |
| VML | Vital Metals Limited | 0.004 | -20% | 703,297 | $29,475,335 |
| BEX | Bikeexchange Ltd | 0.45 | -20% | 8,521 | $10,437,450 |
| BNZ | Benz Mining | 0.11 | -19% | 109,704 | $15,022,526 |
| LSA | Lachlan Star Ltd | 0.045 | -17% | 145,410 | $11,208,953 |
| AMM | Armada Metals | 0.015 | -17% | 12,750 | $3,744,000 |
| PKD | Parkd Ltd | 0.025 | -17% | 180,000 | $3,120,416 |
| AQX | Alice Queen Ltd | 0.005 | -17% | 470,810 | $4,145,905 |
Nagambie Resources’ (ASX:NAG) plan to make money storing PASS (Potential Acid Sulfate Soil) from Victoria’s North East Link project (NELP) has been stymied, with its bid as preferred tender unsuccessful.
And it looks like infamous Perth broker Jason Peterson is now a substantial holder in European explorer Lykos Metals (ASX:LYK) after acquiring a ~7% stake.