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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, Guy’s having a religious moment about lithium brines, and BHP’s pretty proud of its cost controls.
But first, the day ahead.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,154.61/oz (-0.24%)
Silver: US$24.91/oz (-0.52%)
Nickel (3mth): US$18,074/t (-0.02%)
Copper (3mth): US$9,072.00/t (+2.08%)
Oil (WTI): US$82.57 (-0.19%)
Oil (Brent): US$86.57 (-0.37%)
Iron 62pc Fe: US$104.50/t (+2.04%)
AUD/USD: 0.6510 (-0.74%)
Bitcoin: US$63,042 (-6.41%)
TRADING HALTS
These stocks went into trading halts yesterday and are expected out in the coming days:
Globe Metals & Mining (ASX:GBE) – metallurgical results
Holista Colltech (ASX:HCT) – outcome of the Federal Court Hearing judgment in relation to the ASIC’s civil penalty proceedings against the company
TMK Energy (ASX:TMK) – capital raising
Torque Metals (ASX:TOR) – capital raising
WHAT GOT YOU TALKING YESTERDAY?
Copper is warming up. What does the future hold?
Where do you think #copper will be in 12 months? Vote now
— Stockhead (@StockheadAU) March 19, 2024
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Also, be sure to check Stockhead 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 SMALL CAP LEADERS
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| OSX | Osteopore Limited - Rights 22-Mar-24 Def | 0.015 | 114% | 485,270 | $723,008 |
| ICU | Investor Centre Ltd | 0.023 | 64% | 2,358,318 | $4,244,773 |
| UBI | Universal Biosensors | 0.245 | 53% | 24,827,596 | $33,979,110 |
| CCZ | Castillo Copper Ltd | 0.006 | 50% | 3,950,620 | $5,198,021 |
| GCM | Green Critical Min | 0.006 | 50% | 186,609 | $4,546,340 |
| NGY | Nuenergy Gas Ltd | 0.031 | 41% | 4,754 | $32,581,021 |
| SHO | Sportshero Ltd | 0.014 | 40% | 616,945 | $6,178,328 |
| YAR | Yari Minerals Ltd | 0.007 | 40% | 324,246 | $2,411,789 |
| BYH | Bryah Resources Ltd | 0.011 | 38% | 8,617,954 | $3,483,628 |
| MAG | Magmatic Resrce Ltd | 0.09 | 36% | 1,779,019 | $25,188,171 |
| ZNO | Zoono Group Ltd | 0.07 | 35% | 1,519,138 | $11,111,224 |
| AUK | Aumake Limited | 0.004 | 33% | 248,000 | $5,743,220 |
| MEL | Metgasco Ltd | 0.008 | 33% | 944,347 | $6,383,320 |
| TGN | Tungsten Min NL | 0.085 | 33% | 634,106 | $50,330,513 |
| AL8 | Alderan Resource Ltd | 0.005 | 25% | 240,000 | $4,427,445 |
| KOR | Korab Resources | 0.01 | 25% | 173,000 | $2,936,400 |
| MCT | Metalicity Limited | 0.0025 | 25% | 6,003,624 | $8,970,108 |
| NVQ | Noviqtech Limited | 0.005 | 25% | 1,895,041 | $5,937,781 |
| TMR | Tempus Resources Ltd | 0.005 | 25% | 1,867,499 | $2,923,995 |
| YOJ | Yojee Limited | 0.055 | 25% | 492,623 | $11,076,989 |
| FLX | Felix Group | 0.18 | 24% | 35,000 | $29,652,458 |
| HXG | Hexagon Energy | 0.027 | 23% | 5,554,239 | $11,284,150 |
| ICE | Icetana Limited | 0.033 | 22% | 271,433 | $7,144,968 |
| AXN | Alliance Nickel Ltd | 0.04 | 21% | 292,711 | $23,952,707 |
| SCL | Schrole Group Ltd | 0.2 | 21% | 577,645 | $5,932,583 |
Universal Biosensors (ASX:UBI) can now sell its l Xprecia Prime Coagulation Analyzer into the USA after receiving FDA 510(k) and CLIA Waiver approval.
“This FDA approval represents the first opportunity in UBI’s history to access the lucrative (and fully reimbursed) USA market,” UBI CEO John Sharman says.
“Our expectation is Xprecia Prime will qualify under the existing reimbursement codes used by Medicare, Medicaid and USA Health insurers.
“UBI has a pipeline of sales and distribution contracts already in negotiation and now that we have FDA approval we expect to conclude some, if not all of these contracts, win market share and generate substantial revenue for the company.”
Exploration is about to kick off at Magmatic Resources’ (ASX:MAG) 100%-owned Wellington North project, right next door to Alkane Resources’ (ASX:ALK) 15.7Moz Au-equivalent Boda-Kaiser discovery in NSW’s Lachlan Fold.
And training software firm Schrole (ASX:SCL) says human resources software sales in January and February surged 190% and 1392%, respectively, on the same period last year.
Total software sales year to date are up 144% on the same time last year.
YESTERDAY’S SMALL CAP LAGGARDS
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| RWD | Reward Minerals Ltd | 0.03 | -40% | 2,155,361 | $11,392,657 |
| SIH | Sihayo Gold Limited | 0.001 | -33% | 55,000 | $18,306,384 |
| SIT | Site Group Int Ltd | 0.002 | -33% | 900,000 | $7,807,471 |
| OLH | Oldfields Holdings | 0.08 | -27% | 138,712 | $21,973,154 |
| ADX | ADX Energy Ltd | 0.18 | -22% | 26,059,560 | $98,631,612 |
| BEO | Beonic Ltd | 0.02 | -20% | 160,022 | $10,612,374 |
| ECT | Env Clean Tech Ltd. | 0.004 | -20% | 39,498 | $14,321,552 |
| ESR | Estrella Res Ltd | 0.004 | -20% | 49,002 | $8,796,859 |
| KPO | Kalina Power Limited | 0.004 | -20% | 10,471,469 | $11,050,640 |
| SGC | Sacgasco Ltd | 0.008 | -20% | 310,824 | $7,796,871 |
| ABE | Ausbondexchange | 0.021 | -19% | 144,977 | $2,929,371 |
| NIM | Nimyresourceslimited | 0.055 | -18% | 319,762 | $9,408,382 |
| KAM | K2 Asset Mgmt Hldgs | 0.05 | -17% | 27,780 | $14,465,112 |
| 88E | 88 Energy Ltd | 0.005 | -17% | 37,672,590 | $150,744,375 |
| BLZ | Blaze Minerals Ltd | 0.005 | -17% | 260,222 | $3,771,349 |
| GTI | Gratifii | 0.005 | -17% | 171,141 | $8,215,336 |
| LPD | Lepidico Ltd | 0.005 | -17% | 3,950,248 | $45,829,848 |
| MEM | Memphasys Ltd | 0.01 | -17% | 3,802,295 | $16,412,907 |
| MOM | Moab Minerals Ltd | 0.005 | -17% | 258,922 | $4,271,781 |
| MTB | Mount Burgess Mining | 0.0025 | -17% | 3,338,340 | $3,134,440 |
| OLL | Openlearning | 0.02 | -17% | 59,311 | $6,428,858 |
| SNS | Sensen Networks Ltd | 0.02 | -17% | 700,893 | $18,563,412 |
| LYK | Lykosmetalslimited | 0.027 | -16% | 20,000 | $6,027,378 |
| AYT | Austin Metals Ltd | 0.006 | -14% | 3,000,000 | $8,996,339 |
| CDT | Castle Minerals | 0.006 | -14% | 636,779 | $8,571,451 |
Reward Minerals’ (ASX:RWD) plan to buy the mothballed Beyondie sulphate of potash (SOP) project for the bargain price of $20m from the administrators of Kalium Lakes was terminated after the minnow was unable to raise the required cash.
“Reward has advised that it has been unable to secure sufficient funding to complete the SSA [share sale agreement] and therefore is unable to satisfy the conditions precedent,” the administrators say.
“The Receivers have therefore executed a termination deed with Reward as at today’s date.
“Kalium Lakes Potash Pty Ltd and Kalium Lakes Infrastructure Pty Ltd are now expected to enter liquidation in the coming days.”
Developed and built for an initial ~$400m in 2021, the operation soon hit difficulties during ramp-up which forced Kalium to tap the market for another +$100m.
The company was put out of its misery with the appointment of receivers in August last year.
It represents a nightmare-inducing period for WA SOP investors which also saw Salt Lake Potash (ASX:SO4) go into receivership owing US$127 million in 2021.
