Prime minister-elect Anthony Albanese and dog Toto leave his home on May 22, 2022 in Sydney, Australia. Labor leader Anthony Albanese will be sworn in as Australia's 31st Prime Minister on Monday following his victory over Scott Morrison in the Australia Federal Election (Photo by James D. Morgan/Getty Images)
News
On Stockhead today, a punter’s guide to clay rare earths, three contrarian biotech picks in a time of volatility, and how to become a day trader.
But first, the day ahead.
The week kicks off with a speech by the Reserve Bank Assistant Governor (Financial Markets) Christopher Kent at the KangaNews DCM Summit 2022.
In economic data, the Aussie Bureau of Statistics (ABS) releases the household spending indicator – a measure of spending using banks transaction data.
Those, and a whole bunch of other local and global data drops and events, are here in our Trader’s Diary.
The following companies are in a trading halt and are expected to exit with news in the coming days:
Openpay Group Ltd (ASX:OPY) – capital raising
Australian Mines (ASX:AUZ) – capital raising
Ragusa Minerals (ASX: RAS) – project acquisition
Locality Planning Energy (ASX:LPE) – change in Queensland wholesale electricity market conditions
Desert Metals (ASX:DM1) – exploration results
Aston Minerals (ASX:ASO) – metallurgical update for the Edleston Project
BikeExchange (ASX:BEX) – trading halt, pending the expected release of an announcement relating to a proposed material equity capital raise
Invictus Energy (ASX:IVZ; OTC:IVCTF) – trading halt, pending an update in relation to a capital raising
Sustainable Nutrition Group (ASX:TSN) – termination of key customer supply agreement
Wiluna Mining Corp (ASX:WMC) – recapitalisation proposal
BPH Energy (ASX:BPH) – farm out agreement, hydrogen technology transaction
AVZ Minerals (ASX:AVZ) – an announcement in relation to its mining and exploration rights for the Manono lithium and tin project
Gold: $US1,846.51 (+0.26%)
Silver: $US21.749 (-0.66%)
Nickel (3mth): $US26,159/t (-0.9%)
Copper (3mth): $US9,235.00/t (-1.4%)
Lithium Carbonate, China (Benchmark Minerals Intelligence, May 19): $US68,850/t (+0.1% weekly)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, May 19): $US70,625/t (-0.2% weekly)
Oil (WTI): $US110.280 (+0.35%)
Oil (Brent): $US112.91 (+0.78%)
Iron 62pc Fe: $US126 (+2.44%)
AUD/USD: $US0.7037 (-0.1675%)
Bitcoin: $US30,159.40 (+2.55%)
“Coming up is Nirvana.”
Anthony Albanese becomes the first prime minister to have hosted Rage on the ABC. #auspol #ausvotes pic.twitter.com/qS53WN2YDZ
— Liam (@LiamJClarkson) May 21, 2022
Good question.
Compadres
commodities are expected to boom…
in next 6 months what will you be investing in??1. #Lithium
2. #REE
3. #Gold
4. #Graphite
5. #Coal
6. #Uranium
7. #Cobalt
8. #Nickel
9. #Vanadium
10. #Gas
11. #IronOre
12. #Manganese
13. #Zinc
14. #Halloysite / Kaolin
15. other— CJTJ🍀 (@Dragan8er) May 21, 2022
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Also, be sure to check in at 10.20am each day for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.
Here are the best performing ASX small cap stocks for May 16 – 20:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| GAL | Galileo Mining Ltd | 1.155 | 136% | $181,881,941.40 |
| CNJ | Conico Ltd | 0.029 | 107% | $36,807,907.36 |
| AFW | Applyflow Limited | 0.002 | 100% | $5,915,216.07 |
| BEZ | Besragoldinc | 0.08 | 100% | $8,592,498.00 |
| RMI | Resource Mining Corp | 0.11 | 86% | $36,217,923.08 |
| AR1 | Australresources | 0.415 | 84% | $88,276,892.40 |
| UBN | Urbanise.Com Ltd | 0.645 | 79% | $35,038,728.98 |
| RCW | Rightcrowd | 0.098 | 72% | $22,740,520.14 |
| HAV | Havilah Resources | 0.285 | 68% | $85,196,858.18 |
| MYD | Mydeal.Com.Au | 1.005 | 65% | $166,943,612.37 |
| DAF | Discovery Alaska Ltd | 0.065 | 59% | $10,045,561.41 |
| FRX | Flexiroam Limited | 0.043 | 54% | $23,450,515.73 |
| FRB | Firebird Metals | 0.345 | 53% | $17,320,976.64 |
| SCT | Scout Security Ltd | 0.041 | 52% | $5,828,996.70 |
| BIO | Biome Australia Ltd | 0.11 | 51% | $14,618,940.01 |
| ALT | Analytica Limited | 0.0015 | 50% | $6,920,701.69 |
| KEY | KEY Petroleum | 0.003 | 50% | $3,935,856.25 |
| TAR | Taruga Minerals | 0.024 | 50% | $12,717,061.28 |
| TYX | Tyranna Res Ltd | 0.009 | 50% | $11,811,246.00 |
| KNM | Kneomedia Limited | 0.03 | 50% | $36,338,697.17 |
| SPN | Sparc Tech Ltd | 0.845 | 48% | $51,253,753.24 |
| SRN | Surefire Rescs NL | 0.037 | 48% | $43,219,511.90 |
| NIM | Nimyresourceslimited | 0.495 | 48% | $21,127,379.40 |
| ALY | Alchemy Resource Ltd | 0.028 | 47% | $26,686,073.60 |
| ESR | Estrella Res Ltd | 0.028 | 47% | $27,615,675.42 |
| RKN | Reckon Limited | 1.24 | 47% | $143,884,436.64 |
| SHE | Stonehorse Energy Lt | 0.022 | 47% | $12,319,831.49 |
| GED | Golden Deeps | 0.019 | 46% | $18,482,549.54 |
| PYR | Payright Limited | 0.19 | 46% | $14,860,701.23 |
| MEK | Meeka Gold Limited | 0.057 | 46% | $45,098,877.99 |
| OZM | Ozaurum Resources | 0.205 | 41% | $12,301,440.00 |
| IVZ | Invictus Energy Ltd | 0.275 | 41% | $185,486,809.48 |
| 3DP | Pointerra Limited | 0.265 | 39% | $149,117,364.88 |
| EMS | Eastern Metals | 0.215 | 39% | $6,230,000.00 |
| 1AG | Alterra Limited | 0.018 | 38% | $4,181,644.11 |
| RDT | Red Dirt Metals Ltd | 0.555 | 37% | $152,263,964.51 |
| RTR | Rumble Res Limited | 0.41 | 37% | $207,841,589.43 |
| BNR | Bulletin Res Ltd | 0.195 | 34% | $52,216,240.86 |
| CCE | Carnegie Cln Energy | 0.002 | 33% | $30,205,147.42 |
| RXH | Rewardle Holding Ltd | 0.012 | 33% | $6,315,857.86 |
Galileo Mining (ASX:GAL) easily punched through the $1/share mark this week.
Investors love a good discovery story, especially when it is validated by a $1.75m on-market share purchase from major shareholder and living legend Mark Creasy.
Special mention goes to the Mt Thirsty Joint Venture (50% Conico (ASX:CNJ); 50% Greenstone Resources (ASX:GSR), which is right next door.
Meanwhile, Besra Gold’s (ASX:BEZ) substantial 3.3Moz ‘Bau’ gold project in Malaysia also includes an additional 4.9Moz – 9.3Moz exploration target. Converting a decent portion of that target into resources could turn Bau into a certified monster.
18 holes have now been successfully completed at the ‘Jugan’ prospect with assays for seven holes reported to date and a further 11 holes pending release.
These are anticipated “to be received progressively from the end of this week”, BEZ says.
Mid-tier miner OZ Minerals (ASX:OZL) could pay Havilah Resources (ASX:HAV) up to $405m for the 1.1Mt copper, 3.1Moz gold, and 23,200t cobalt ‘Kalkaroo’ project in South Australia. The companies will also form a $9m regional exploration alliance.
$85m capped HAV gained 68% for the week.
And Woolworths (ASX:WOW) is looking to acquire an 80% controlling interest in online retail marketplace MyDeal (ASX:MYD), which will be delisted from the ASX if the transaction goes through.
The all-cash consideration of $1.05 per share represents a significant premium of 62.8% to the last closing price.
Here are the worst performing ASX small cap stocks for May 16 – 20:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| STP | Step One Limited | 0.29 | -40% | $66,722,504.76 |
| PO3 | Purifloh Ltd | 0.275 | -39% | $8,511,344.46 |
| JAV | Javelin Minerals Ltd | 0.001 | -33% | $9,354,152.77 |
| ANR | Anatara Ls Ltd | 0.063 | -32% | $4,495,404.12 |
| CFO | Cfoam Limited | 0.005 | -29% | $3,669,203.17 |
| RAB | Adrabbit Limited | 0.023 | -28% | $4,459,234.97 |
| BRX | Belararoxlimited | 0.615 | -25% | $18,414,513.00 |
| MEM | Memphasys Ltd | 0.041 | -25% | $34,855,846.83 |
| RD1 | Registry Direct | 0.012 | -25% | $5,852,621.67 |
| ST1 | Spirit Technology | 0.052 | -25% | $37,224,520.42 |
| AHI | Adv Human Imag Ltd | 0.155 | -24% | $25,846,154.21 |
| EQS | Equitystorygroupltd | 0.095 | -24% | $2,795,373.77 |
| PPG | Pro-Pac Packaging | 1.02 | -24% | $84,354,826.40 |
| GO2 | Thego2People | 0.016 | -24% | $6,506,212.06 |
| SWP | Swoop Holdings Ltd | 0.635 | -23% | $94,461,439.80 |
| KCC | Kincora Copper | 0.07 | -23% | $5,419,435.81 |
| PFT | Pure Foods Tas Ltd | 0.3 | -23% | $18,544,941.00 |
| IMR | Imricor Med Sys | 0.3 | -23% | $49,436,408.27 |
| VBC | Verbrec Limited | 0.12 | -23% | $26,577,140.40 |
| 1ST | 1St Group Ltd | 0.007 | -22% | $5,541,538.08 |
| CMP | Compumedics Limited | 0.165 | -21% | $31,003,515.90 |
| IGN | Ignite Ltd | 0.13 | -21% | $11,645,682.75 |
| HCD | Hydrocarbon Dynamic | 0.023 | -21% | $13,502,391.50 |
| ALM | Alma Metals Ltd | 0.02 | -20% | $17,007,861.91 |
| AUR | Auris Minerals Ltd | 0.028 | -20% | $15,252,030.62 |
| COY | Coppermoly Limited | 0.008 | -20% | $17,551,655.43 |
| JXT | Jaxstaltd | 0.04 | -20% | $11,990,236.97 |
| LNY | Laneway Res Ltd | 0.004 | -20% | $31,510,082.05 |
| PLG | Pearlgullironlimited | 0.048 | -20% | $2,690,213.09 |
| RBR | RBR Group Ltd | 0.004 | -20% | $5,150,481.38 |
| SI6 | SI6 Metals Limited | 0.008 | -20% | $12,853,295.87 |
| ILA | Island Pharma | 0.145 | -19% | $6,270,717.56 |
| REY | REY Resources Ltd | 0.23 | -19% | $48,743,333.97 |
| EBR | EBR Systems | 0.445 | -19% | $121,440,191.42 |
| FMS | Flinders Mines Ltd | 0.41 | -19% | $75,981,859.65 |
| MBX | Myfoodieboxlimited | 0.13 | -19% | $5,359,999.20 |
| TD1 | Tali Digital Limited | 0.0065 | -19% | $8,573,541.66 |
| IRI | Integrated Research | 0.57 | -19% | $99,181,204.90 |
| BMM | Balkanminingandmin | 0.27 | -18% | $8,842,500.00 |
| ERG | Eneco Refresh Ltd | 0.027 | -18% | $7,081,317.02 |
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