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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.



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%)



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



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

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

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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.



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

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

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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”.