Rise and Shine: Everything you need to know before the ASX opens

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

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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

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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.