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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, where will you be when the gold gap closes, is this REE junior onto something ever rarer, and met coal M&A still steals the show.
But first the day ahead.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,174.34/oz (-0.40%)
Silver: US$24.41/oz (-0.02%)
Nickel (3mth): US$18,377/t (+2.03%)
Copper (3mth): US$8,653.00/t (+0.86%)
Oil (WTI): US$78.23 (+0.40%)
Oil (Brent): US$82.58 (+0.46%)
Iron 62pc Fe: US$110.50/t (-5.96%)
AUD/USD: 0.6616 (+0.03%)
Bitcoin: US$72,076 (-0.10%)
TRADING HALTS
These stocks went into trading halts yesterday and are expected out in the coming days:
Appen (ASX:APX) – ASX price query letter
Resource Mining Corporation (ASX: RMI) – release of a corrective announcement
Arrow Minerals (ASX: AMD) – capital raising
Sky Metals (ASX: SKY) – capital raising
Asara Resources (ASX: AS1) – capital raising
Red Hawk Mining (ASX: RHK) – capital raising
Tivan (ASX: TVN) – capital raising
Vertex Minerals (ASX: VTX) – capital raising
Painchek (ASX: PCK) – capital raise
YESTERDAY’S ASX SMALL CAP LEADERS
Here are 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 |
|---|---|---|---|---|---|
| RMI | Resource Mining Corp | 0.037 | 131% | 4,167,300 | $9,477,565 |
| NYM | Narryer Metals | 0.059 | 111% | 463,511 | $1,343,820 |
| JAV | Javelin Minerals Ltd | 0.002 | 100% | 250,000 | $2,176,231 |
| GCR | Golden Cross | 0.003 | 50% | 3,086,372 | $2,194,512 |
| PKO | Peako Limited | 0.006 | 50% | 11,182,101 | $2,108,339 |
| NYR | Nyrada Inc | 0.145 | 45% | 15,117,633 | $15,600,870 |
| WIN | Widgienickellimited | 0.075 | 34% | 981,426 | $16,684,923 |
| AUK | Aumake Limited | 0.004 | 33% | 1,383,480 | $5,743,220 |
| MTL | Mantle Minerals Ltd | 0.002 | 33% | 3,629,736 | $9,296,169 |
| RIE | Riedel Resources Ltd | 0.004 | 33% | 250,046 | $6,671,507 |
| TKL | Traka Resources | 0.002 | 33% | 3,604,907 | $2,625,988 |
| VPR | Volt Power Group | 0.002 | 33% | 538,500 | $16,074,312 |
| APX | Appen Limited | 1.08 | 30% | 17,856,416 | $181,970,752 |
| CPO | Culpeo Minerals | 0.045 | 29% | 4,708,563 | $5,767,611 |
| AMM | Armada Metals | 0.019 | 27% | 22,200 | $3,120,000 |
| ESK | Etherstack PLC | 0.245 | 26% | 35,831 | $25,737,465 |
| CCO | The Calmer Co Int | 0.005 | 25% | 14,781 | $4,730,787 |
| EDE | Eden Inv Ltd | 0.0025 | 25% | 3,314,137 | $7,356,542 |
| H2G | Greenhy2 Limited | 0.01 | 25% | 100,000 | $3,350,047 |
| RMX | Red Mount Mining | 0.0025 | 25% | 31,832 | $5,347,152 |
| RFA | Rare Foods Australia | 0.036 | 24% | 150,153 | $5,943,530 |
| MSB | Mesoblast Limited | 0.395 | 23% | 23,827,108 | $324,909,516 |
| FTL | Firetail Resources | 0.05 | 22% | 359,866 | $6,105,128 |
| RIM | Rimfire Pacific | 0.04 | 21% | 12,324,092 | $73,268,076 |
| AQC | Auspac Coal | 0.0665 | 21% | 2,307,385 | $28,213,218 |
Small cap battler Resource Mining Corp (ASX:RMI) caught a rocket in early trade after pXRF soil sampling defined nine big copper-gold targets at the newly acquired Mpanda project in Tanzania.
pXRF is used by explorers to analyse the composition of soils and rocks in minutes, instead of the weeks it takes to get assays back from the lab.
It is no substitute for lab assays though, which are far more accurate.
It might be RMI’s failure to mention this which forced the company into a Trading Halt while it works on a “corrective announcement”.
Narryer Metals (ASX:NYM) stonked +100% after announcing plans to buy 70% of two lithium projects, Big Hill and Fran, in the Northwest Territories of Canada.
Big Hill shares a boundary with $200m capped Li-FT Power (TSXV:LIFT) which is drilling into thick, high grade lithium across multiple pegmatites you can see from space.
NYM has completed a $1m cap raise at a 43% premium (unheard of!) to fund initial exploration.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are 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 |
|---|---|---|---|---|---|
| AXP | AXP Energy Ltd | 0.001 | -50% | 101,123 | $11,649,361 |
| MRQ | MRG Metals Limited | 0.001 | -50% | 25,000 | $4,942,682 |
| IS3 | I Synergy Group Ltd | 0.01 | -29% | 367,055 | $4,257,125 |
| SLZ | Sultan Resources Ltd | 0.02 | -26% | 3,618,724 | $4,001,131 |
| 1AG | Alterra Limited | 0.003 | -25% | 150,000 | $3,482,763 |
| 1MC | Morella Corporation | 0.003 | -25% | 1,265,359 | $24,715,198 |
| NES | Nelson Resources. | 0.003 | -25% | 1,300,000 | $2,454,377 |
| NRZ | Neurizer Ltd | 0.003 | -25% | 15,959,702 | $6,005,643 |
| SFG | Seafarms Group Ltd | 0.003 | -25% | 2,064,344 | $19,346,397 |
| RLG | Roolife Group Ltd | 0.007 | -22% | 221,778 | $6,503,023 |
| AN1 | Anagenics Limited | 0.012 | -20% | 44,069 | $6,286,993 |
| CF1 | Complii Fintech Ltd | 0.02 | -20% | 434,761 | $14,198,013 |
| BNL | Blue Star Helium Ltd | 0.008 | -20% | 14,131,189 | $19,422,653 |
| GCM | Green Critical Minerals | 0.004 | -20% | 7,275 | $5,682,925 |
| NAE | New Age Exploration | 0.004 | -20% | 91,560 | $8,969,495 |
| PRX | Prodigy Gold NL | 0.004 | -20% | 871,984 | $8,755,539 |
| ROG | Red Sky Energy. | 0.004 | -20% | 1,446,217 | $27,111,136 |
| TMX | Terrain Minerals | 0.004 | -20% | 10,160,209 | $7,158,353 |
| EVR | Ev Resources Ltd | 0.01 | -17% | 11,924,682 | $15,855,258 |
| M4M | Macro Metals Limited | 0.005 | -17% | 37,012,429 | $16,872,467 |
| MSI | Multistack Internat. | 0.005 | -17% | 814,969 | $817,824 |
| TX3 | Trinex Minerals Ltd | 0.005 | -17% | 1,900,000 | $8,922,148 |
| VRC | Volt Resources Ltd | 0.005 | -17% | 564,659 | $24,780,640 |
| CR1 | Constellation Res | 0.11 | -15% | 25,000 | $6,487,705 |
| IMC | Immuron Limited | 0.11 | -15% | 3,769,965 | $29,613,785 |
The precipitous fall of once great lithium developer Lake Resources (ASX:LKE) continues.
Worth ~$2.7bn at $2.11/sh in April 2022, the struggling stock has now announced a $20m raise at just 7c per share to keep the lights on.
The issue price represents a massive 39.1% discount to the last closing price of A$0.115 on 8 March 2024 and a 42.3% discount to the 5-day VWAP of A$0.121.
Meanwhile, Blue Star (ASX:BNL) will pause development at the Voyager project after being “disappointed” with the performance from the first two helium development wells.
Voyager was spruiked as a capex light development “projected to deliver high returns and maximum product market pricing and flexibility”.
