Rise and Shine: Everything you need to know before the ASX opens
I'm a little teapot, tall not stout, here is my spout, and here is my spout. Pic via Getty Images.
Good morning everyone, and welcome to 14 May, 2024 – an important day in history for a few different reasons.
On this day in 1787, a group of delegates gathered in the US city of Philadelphia to draw up the US Constitution, which has been widely derided as a terrible mistake.
On this day in 1797, English country doctor Edward Jenner first administered his revolutionary cowpox-based vaccine for smallpox, in Berkeley, Gloucestershire, leading to precisely zero documented cases of autism.
And it was on this day in 1842 that the world’s first illustrated weekly newspaper, The Illustrated London News began publication, leading in a roundabout fashion to the launch of ZOO Weekly in Australia, which has been widely derided as an even more terrible mistake than the US Constitution.
Luckily for you, you’re unlikely to encounter any terrible mistakes on this site this morning, as our red hot team of experts has been hard at work prepping everything you need to know before the market kicks off for the day.
That includes Nadine McGrath’s look into what Optiscan’s been up to in recent months, and Rob Badman’s take on the ins and outs of the Aussie lithium rush after Errawarra Resources (ASX:ERW) surged on news that next door neighbour Azure Minerals (ASX:AZS) found some “stacked pegmatites”.
Plus, because I live alone and I’m terribly lonely, I’ve been sitting here at my laptop into the wee hours of the morning to bring you all the data and digits and highlights listed below to help prep you for the day ahead.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,354.51 (-0.26%)
Silver: US$28.10 (-0.25%)
Nickel (3mth): US$18,723.50/t (+0.00%)
Copper (3mth): US$9,897/t (+0.00%)
Zinc: US$2,913.00/t (+0.00%)
Oil (WTI): US$78.04 (-0.19%)
Oil (Brent): US$82.51 (-0.33%)
Iron 62pc Fe: US$116.95/t (-0.00%)
AUD/USD: 0.6597 (-0.03%)
Bitcoin: US$61,131.90 (-0.52%)
WHAT GOT YOU TALKING
Did you miss yesterday’s wrap of what’s happening in Health Stocks? Fret not, for here is a link, with the added bonus of a photo featuring a man about to lose his hand to a robotic hand, designed by robotic hand doctors to drum up more business.
@Optiscan_ ( $OIL ) signs deal with world-renowned Mayo Clinic
@AdAlta1AD ( $1AD ) designates Cell Therapies as its manufacturing partner
@ecofibre ( $EOF ) jumps after entering sell and leaseback agreement in US https://t.co/GKAer9ZKJI— Stockhead (@StockheadAU) May 13, 2024
YESTERDAY’S ASX SMALL CAP LEADERS
Here are the best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| BUR | Burleyminerals | 0.16 | 86% | 1,759,609 | $12,931,901 |
| ERW | Errawarra Resources | 0.10 | 67% | 16,363,507 | $5,755,240 |
| FAU | First Au Ltd | 0.01 | 67% | 84,239,160 | $4,985,980 |
| APC | Aust Potash Ltd | 0.00 | 50% | 6,183,514 | $4,000,189 |
| LPD | Lepidico Ltd | 0.00 | 50% | 5,300,870 | $17,178,239 |
| IND | Industrialminerals | 0.24 | 37% | 551,432 | $12,033,000 |
| ANX | Anax Metals Ltd | 0.06 | 34% | 37,512,693 | $26,017,952 |
| PUA | Peak Minerals Ltd | 0.00 | 33% | 20,471,066 | $3,124,130 |
| RDS | Redstone Resources | 0.00 | 33% | 150,000 | $2,776,135 |
| MGU | Magnum Mining & Exp | 0.02 | 32% | 18,999,968 | $11,331,060 |
| BYH | Bryah Resources Ltd | 0.01 | 29% | 9,665,201 | $3,048,175 |
| LV1 | Live Verdure Ltd | 0.54 | 29% | 720,552 | $52,381,684 |
| PNN | Power Minerals Ltd | 0.14 | 29% | 1,177,827 | $9,723,529 |
| EXL | Elixinol Wellness | 0.01 | 25% | 4,066,519 | $5,204,296 |
| ID8 | Identitii Limited | 0.01 | 25% | 671,703 | $3,441,904 |
| NTM | Nt Minerals Limited | 0.01 | 25% | 100,000 | $4,039,612 |
| RML | Resolution Minerals | 0.00 | 25% | 480,000 | $3,220,044 |
| FTL | Firetail Resources | 0.06 | 24% | 394,731 | $7,445,278 |
| OIL | Optiscan Imaging | 0.12 | 22% | 1,158,622 | $81,863,399 |
| FZR | Fitzroy River Corp | 0.15 | 21% | 40,879 | $12,954,510 |
| D3E | D3 Energy Limited | 0.24 | 20% | 1,245,117 | $15,895,001 |
| TON | Triton Min Ltd | 0.02 | 20% | 2,751,714 | $19,517,408 |
| AYT | Austin Metals Ltd | 0.01 | 20% | 75,000 | $6,425,957 |
| CCO | The Calmer Co Int | 0.01 | 20% | 6,788,340 | $6,804,398 |
| EMT | Emetals Limited | 0.01 | 20% | 710,845 | $4,250,000 |
Yesterday’s Small Cap Winners included:
Leading the ladder on Monday morning was Errawarra Resources (ASX:ERW) which jumped after saying that it has identified a “large, stacked pegmatite swarm” at its 100kkm2+ Andover West project, which is about 40km east-southeast of Karratha, WA, and just south of Azure Minerals’ (ASX:AZS) Andover LCT Pegmatite project (now owned by SQM/Hancock). Andover West has, notes the company, a highly promising exploration target of 100-240mt at 1-1.5% Li2O.
Elixinol Wellness (ASX:EXL) gained on news that it’s received $2.3m from divesting its minority stake in Altmed Pets.
Magnum Mining and Exploration (ASX:MGU) rose sharply after telling the market that it and Middle East for Metallic Industrial (Midmetal) have entered into an agreement with the Nasdaq-listed V Capital Consulting and 2×1.Digital to raise more than US$210m to advance a green pig iron project in Saudi Arabia. Additionally, Magnum is set to “receive no less than US$10m as working capital for its flagship Buena Vista magnetite project in Nevada for the issue, subject to Magnum shareholder approval”.
And Ramelius Resources (ASX:RMS)’s updated Mineral Resource Estimate, now including adjacent Lone Pine and Theakston deposits and incorporating recent drilling and mining information were: 21Mt at 1.7g/t for 1,200,000 ounces (up 64% on June 2023 MRE). This combines previous Mineral Resource Estimate of 730,000 oz and Exploration Target of 125,000-225,000 oz into a single resource, with the result well exceeding the upper end of the Exploration Target range, and also containing over 75% in either the Measured or Indicated categories.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are the worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| JTL | Jayex Technology Ltd | 0.001 | -80% | 7,569,497 | $1,406,393 |
| AXP | AXP Energy Ltd | 0.001 | -50% | 1,119,999 | $11,649,361 |
| JAV | Javelin Minerals Ltd | 0.001 | -50% | 285,001 | $4,352,462 |
| AVW | Avira Resources Ltd | 0.001 | -33% | 62,500 | $3,995,685 |
| CNJ | Conico Ltd | 0.001 | -33% | 220,000 | $2,707,643 |
| GCM | Green Critical Min | 0.003 | -25% | 232,500 | $4,546,340 |
| LSR | Lodestar Minerals | 0.002 | -25% | 5,029,000 | $4,046,795 |
| TD1 | Tali Digital Limited | 0.002 | -25% | 1,085,956 | $6,590,311 |
| TX3 | Trinex Minerals Ltd | 0.003 | -25% | 350,000 | $7,254,609 |
| MEM | Memphasys Ltd | 0.007 | -22% | 35,962 | $12,309,680 |
| SPX | Spenda Limited | 0.007 | -22% | 2,903,228 | $38,920,120 |
| BYE | Byron Energy Ltd | 0.047 | -22% | 11,938,025 | $64,727,129 |
| ICL | Iceni Gold | 0.070 | -21% | 8,563,300 | $21,943,934 |
| AVC | Auctus Invest Grp | 0.470 | -20% | 38,882 | $44,563,727 |
| HFY | Hubify Ltd | 0.012 | -20% | 500,000 | $7,442,044 |
| MKL | Mighty Kingdom Ltd | 0.004 | -20% | 5,662,777 | $12,487,999 |
| PKO | Peako Limited | 0.004 | -20% | 400,000 | $2,635,424 |
| ROG | Red Sky Energy. | 0.004 | -20% | 2,646,366 | $27,111,136 |
| PL3 | Patagonia Lithium | 0.100 | -17% | 156,060 | $5,895,420 |
| TM1 | Terra Metals Limited | 0.050 | -17% | 5,028,604 | $17,746,722 |
| 1MC | Morella Corporation | 0.003 | -17% | 41,722,986 | $18,536,398 |
| KGD | Kula Gold Limited | 0.010 | -17% | 716,984 | $5,837,543 |
| MCT | Metalicity Limited | 0.003 | -17% | 19,320,288 | $13,455,285 |
| MEL | Metgasco Ltd | 0.005 | -17% | 554,173 | $6,383,320 |
| NSX | NSX Limited | 0.020 | -17% | 117,000 | $11,341,706 |
TRADING HALTS
Oceana Lithium (ASX:OCN) – pending an update of exploration results at the Company’s Napperby Project.
Australian Gold and Copper (ASX:AGC) – pending the release of an announcement to the market regarding exploration results.
IperionX (ASX:IPX) – pending an announcement regarding a proposed capital raising.
Cosmos Exploration (ASX:C1X) – pending the release of an announcement regarding an acquisition and a capital raising.
Firebird Metals (ASX:FRB) – pending an announcement in relation to project financing initiatives.
Killi Resources (ASX:KLI) ) – pending an announcement in relation to a potential joint venture and capital raising.
Perpetual Resources (ASX:PEC) – pending an announcement regarding a proposed material acquisition.
Parkway Corporate (ASX:PWN) – pending the release of an announcement to the market relating to a potential capital raise.
Control Bionics (ASX:CBL) – pending an announcement in relation to a capital raising.
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