Pic: Via getty
Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, Pilbara Minerals’ trendsetting lithium auction is back, baby! Can it heat up mild spodumene prices?
But first, the day ahead.
WHO’S LISTING?
IPO: $5m at 20c per share
Commences Trading: 11am Eastern Time Friday, March 15
The Northern Territory-focused junior explorer lists on the ASX with a handful of uranium and critical minerals exploration assets.
These include copper and uranium targets at the Mount Doreen tenement in the Arunta region, about 350km from Alice Springs, and the Lucy Creek manganese project in the Georgina Basin.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,170.60/oz (-0.23%)
Silver: US$25.01/oz (-0.08%)
Nickel (3mth): US$18,377/t (+2.03%)
Copper (3mth): US$8,653.00/t (+0.86%)
Oil (WTI): US$80.41 (+0.87%)
Oil (Brent): US$84.71 (+0.79%)
Iron 62pc Fe: US$107.00/t (-3.15%)
AUD/USD: 0.6625 (+0.09%)
Bitcoin: US$73,049 (-0.05%)
TRADING HALTS
These stocks went into trading halts yesterday and are expected out in the coming days:
C29 Metals Limited (ASX: C29) – material acquisition and capital raise
DigitalX Limited (ASX: DCC) – placement
PYC Therapeutics Limited (ASX: PYC) – capital raise
Enova Mining Limited (ASX: ENV) – significant exploration results for the recently announced CODA project acquisition
WHAT GOT YOU TALKING YESTERDAY?
Two bits of exciting news for beaten down lithium baggies.
One:
Big news if true for @LithiumAmericas #ThackerPass
David Deckelbaum of TD Cowen note below reiterating comments he made in recent #RockStockChannel interview flagging DOE loan as potential catalyst for $LAC to trade up to $8
$2B loan would be larger than expected. Has capex… pic.twitter.com/4btwpIjUMz
— Howard Klein (@LithiumIonBull) March 14, 2024
And two:
$PLS BMX not needed $1200 dmt pre auction sale
Spot is $1045 #lithium pic.twitter.com/xAjA6XSSca
— Mark Gardner (@markgardn) March 14, 2024
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 Thursday’s best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ARU | Arafura Rare Earths | 0.2525 | 71% | 49,287,576 | $340,769,573 |
| BP8 | Bph Global Ltd | 0.0015 | 50% | 1,004,488 | $1,954,116 |
| AUK | Aumake Limited | 0.004 | 33% | 162,216 | $5,743,220 |
| PPY | Papyrus Australia | 0.02 | 33% | 35,252 | $7,390,389 |
| CVR | Cavalierresources | 0.175 | 30% | 109,478 | $4,296,904 |
| CVV | Caravel Minerals Ltd | 0.19 | 27% | 2,143,058 | $78,641,970 |
| M4M | Macro Metals Limited | 0.005 | 25% | 18,722,601 | $12,928,267 |
| MCT | Metalicity Limited | 0.0025 | 25% | 2,150,064 | $8,970,108 |
| PUR | Pursuit Minerals | 0.005 | 25% | 7,486,153 | $11,775,886 |
| SLC | Superloop Limited | 1.3075 | 25% | 14,785,592 | $515,733,267 |
| TRE | Toubani Res Ltd | 0.13 | 24% | 137,000 | $14,055,895 |
| LM8 | Lunnonmetalslimited | 0.3 | 22% | 54,961 | $53,369,878 |
| TEM | Tempest Minerals | 0.011 | 22% | 6,301,990 | $4,672,120 |
| AIS | Aeris Resources Ltd | 0.14 | 22% | 9,513,144 | $111,265,437 |
| BUS | Bubalusresources | 0.145 | 21% | 541,727 | $3,860,841 |
| NTM | Nt Minerals Limited | 0.006 | 20% | 875,463 | $4,299,515 |
| AQC | Auspaccoal Ltd | 0.095 | 19% | 2,929,289 | $41,037,407 |
| CPO | Culpeominerals | 0.051 | 19% | 5,683,427 | $7,085,922 |
| SPX | Spenda Limited | 0.013 | 18% | 1,138,100 | $47,569,036 |
| PTR | Petratherm Ltd | 0.02 | 18% | 2,100 | $3,820,769 |
| PNN | Power Minerals Ltd | 0.2 | 18% | 120,253 | $14,853,937 |
| NXM | Nexus Minerals Ltd | 0.042 | 17% | 800,657 | $14,006,165 |
| ICG | Inca Minerals Ltd | 0.007 | 17% | 50,000 | $3,526,958 |
| CYP | Cynata Therapeutics | 0.18 | 16% | 100,370 | $27,842,927 |
| 8CO | 8Common Limited | 0.046 | 15% | 92,650 | $8,963,796 |
Arafura Rare Earths (ASX:ARU) has secured conditional Commonwealth Government approval for a US$533 million debt financing package to build its Nolans project in the Northern Territory.
Lobbing a mention of artificial intelligence into a release was enough to give $2m capped biotech BPH Global (ASX:BP8) a nice bump at Thursday’s open.
BP8 says it will “expand its seaweed research and development activities into essential mineral extraction utilising AI search technology”.
Superloop (ASX:SLC) is now providing wholesale internet services to two of Australia’s largest energy companies after inking a six-year contract with Origin Energy and its subsidiaries.
The contract is expected to add +$19m of annualised earnings once the current subscriber base is fully transitioned, it says.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are Thursday’s worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MIO | Macarthur Minerals | 0.001 | -67% | 1,007,978 | $99,752 |
| SLZ | Sultan Resources Ltd | 0.014 | -36% | 9,913,971 | $3,645,539 |
| CYQ | Cycliq Group Ltd | 0.003 | -25% | 4,243,975 | $1,430,067 |
| SFG | Seafarms Group Ltd | 0.003 | -25% | 387,556 | $19,346,397 |
| VPR | Volt Power Group | 0.0015 | -25% | 346,898 | $21,432,416 |
| CTQ | Careteq Limited | 0.018 | -25% | 8,588,216 | $5,653,135 |
| MIO | Macarthur Minerals | 0.097 | -22% | 100,854 | $20,781,686 |
| NYR | Nyrada Inc. | 0.1025 | -21% | 3,710,065 | $20,281,131 |
| APX | Appen Limited | 0.765 | -21% | 21,948,216 | $211,568,405 |
| ASR | Asra Minerals Ltd | 0.004 | -20% | 122,500 | $8,319,979 |
| ECT | Env Clean Tech Ltd. | 0.004 | -20% | 68,525 | $14,321,552 |
| ESR | Estrella Res Ltd | 0.004 | -20% | 2,078,464 | $8,796,859 |
| ME1 | Melodiol Glb Health | 0.004 | -20% | 2,358,325 | $1,964,980 |
| NAE | New Age Exploration | 0.004 | -20% | 2,574,236 | $8,969,495 |
| VML | Vital Metals Limited | 0.004 | -20% | 2,333,538 | $29,475,335 |
| NME | Nex Metals Explorat | 0.017 | -19% | 198,399 | $7,403,183 |
| SKY | SKY Metals Ltd | 0.034 | -19% | 1,901,456 | $19,378,720 |
| RAS | Ragusa Minerals Ltd | 0.03 | -19% | 263,446 | $5,276,155 |
| ABB | Aussie Broadband | 3.52 | -19% | 8,821,411 | $1,278,149,911 |
| IMI | Infinitymining | 0.061 | -19% | 22,671 | $8,906,504 |
| DY6 | Dy6Metalsltd | 0.044 | -17% | 31,965 | $2,093,279 |
| OSX | Osteopore Limited | 0.3 | -17% | 94,084 | $3,718,328 |
| FGL | Frugl Group Limited | 0.005 | -17% | 1,009,300 | $8,938,647 |
| ODE | Odessa Minerals Ltd | 0.005 | -17% | 501,371 | $6,259,695 |
| PLN | Pioneer Lithium | 0.14 | -15% | 121,165 | $4,690,125 |
Explorer Sultan Resources (ASX:SLZ) has completed a 2 hole drill program at the Calesi prospect in WA and, while assays are pending, “no visible support for magmatic nickel sulphides was observed”.
The Australian Tax Office (ATO) reckons healthtech Careteq (ASX:CTQ) was not entitled to almost $1.3m of tax offsets related to R&D claims over the past two years.
Should it be unable to substantiate its claim CTQ will have to pay back the money plus a $320,000 ‘administrative penalty’.
Meanwhile, Superloop’s gain mentioned above is Aussie Broadband’s (ASX:ABB) loss.
ABB says it received “unexpected notice” on the evening of 13 March 2024 that Origin Energy will terminate the White Label Wholesale Agreement with ABB effective 12 April 2024.
