Rise and Shine 20 May 2024. Picture Getty
Rise and Shine: Everything you need to know before the ASX opens
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Good morning, today on Stockhead, Christian Edwards wraps up his look at ASX blood stocks that are way off their start of year highs, Eddy Sunarto reckons Price Sales Ratio outshines the P/E ratio for comparing early-stage stocks, and it’s a big week in data drops for the ASX – they’re all here in the Trader’s Diary.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,414.25 (+1.53%)
Silver: US$31.49 (+6.14%)
Nickel (3mth): US$19,797.00/t (+1.58%)
Copper (3mth): US$10,715.00/t (+2.79%)
Zinc: US$3,045.65/t (+2.79%)
Oil (WTI): US$80.00 (+0.97%)
Oil (Brent): US$83.96 (+0.83%)
Iron 62pc Fe: US$117.02/t (0.15%)
AUD/USD: 0.6693 (+0.21%)
Bitcoin: US$66,957 (-0.45%)
WHAT GOT YOU TALKING
The eyes have it.
.@morgansAU's Scott Power explains what the movers and shakers have been doing in #health and gives his #ASX Powerplay. https://t.co/qLjwsc7WOr
— Stockhead (@StockheadAU) May 17, 2024
ASX SMALL CAP LEADERS
Today’s best performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| APC | Aust Potash Ltd | 0.002 | 50% | 1,375,612 | $4,000,189 |
| POS | Poseidon Nick Ltd | 0.006 | 50% | 17,593,506 | $14,854,139 |
| YPB | YPB Group Ltd | 0.003 | 50% | 4,592,081 | $1,615,923 |
| NC6 | Nanollose Limited | 0.032 | 39% | 225,424 | $3,956,146 |
| RCR | Rincon | 0.145 | 32% | 8,521,818 | $25,553,625 |
| AON | Apollo Minerals Ltd | 0.029 | 32% | 520,802 | $15,319,544 |
| KP2 | Kore Potash PLC | 0.018 | 29% | 1,580,439 | $9,215,703 |
| BLZ | Blaze Minerals Ltd | 0.005 | 25% | 699,999 | $2,514,233 |
| EXL | Elixinol Wellness | 0.005 | 25% | 86,842 | $5,204,296 |
| HLX | Helix Resources | 0.005 | 25% | 35,036,157 | $9,292,583 |
| PNX | PNX Metals Limited | 0.005 | 25% | 1,567,928 | $23,880,859 |
| RML | Resolution Minerals | 0.003 | 25% | 372,499 | $3,220,044 |
| BUS | Bubalusresources | 0.155 | 24% | 10,032 | $4,021,709 |
| CAG | Caperangeltd | 0.110 | 22% | 5,000 | $8,541,747 |
| WYX | Western Yilgarn NL | 0.045 | 22% | 163,238 | $3,400,578 |
| EMU | EMU NL | 0.036 | 20% | 524,583 | $2,024,789 |
| PPY | Papyrus Australia | 0.012 | 20% | 480,266 | $4,926,926 |
| PFE | Panteraminerals | 0.049 | 20% | 1,569,472 | $10,994,830 |
| WNX | Wellnex Life Ltd | 0.025 | 19% | 506,799 | $27,080,458 |
| RR1 | Reach Resources Ltd | 0.013 | 18% | 2,258,894 | $9,618,745 |
| LPE | Locality Planning | 0.100 | 18% | 3,575,234 | $15,317,375 |
| TOR | Torque Met | 0.200 | 18% | 2,556,772 | $31,148,896 |
| AVE | Avecho Biotech Ltd | 0.004 | 17% | 6,167,188 | $9,507,891 |
| CCO | The Calmer Co Int | 0.007 | 17% | 4,652,936 | $8,165,278 |
| HYT | Hyterra Ltd | 0.028 | 17% | 5,610,854 | $21,661,078 |
Power Minerals (ASX:PNN) announced it’s secured a handful of Singaporean and Chinese partners to develop its Rincon lithium project, which is part of the wider Salta operation. On establishment of the Rincon JV, PNN will hold a 41% interest and Chinese entity Li Energy Technology will hold a 59% interest. It’s a “transformational agreement”, says Power, and is designed to deliver significant production at Rincon with the aim of making it a big operator in the field of Direct Lithium Extraction (DLE).
Poseidon Nickel (ASX:POS) says that its exploration, in hiatus for four months while a now-terminated sales process was taking place, has now kicked off again, with POS unearthing a bunch of greenfields targets to test with the drill bit. As Reubs noted earlier, “the recovering nickel price is also helping”. Re the lithium angle, though, numerous pegmatites have been identified at the company’s Lake Johnston project and rock chip samples have been collected from within and near a broad >100ppm Li2O anomaly reported by the company in January. Soil sampling planning to extend and infill the anomaly is now underway.
Electricity provider Locality Planning Energy (ASX:LPE) was up after announcing updated guidance to the ASX, telling investors that the company is now expecting a significant improvement in net profit to the range of $1.95m to $2.0m, and offereds EBITDA guidance between $3.3 million and $3.5 million, which is loads better than the company’s net loss of $12 million for FY23.
Education company NextEd (ASX:NXD) said total new international student (ELICOS and vocational) enrolments grew by 11% in the March quarter against the previous quarter, despite tighter immigration policy. NextEd’s cost base has reduced with targeted annualised savings of approximately $5 million from early FY25.
And… AIC Mines (ASX:A1M) announced that the mining lease for the Jericho Copper Mine has been approved by the Queensland Government, Department of Resources. Jericho mining optimisation studies to reduce initial schedule risk and also longer-term operational risks are currently being finalised. The major component of this work is investigation of direct underground access to Jericho from the Eloise portal via a 3.6 kilometre link drive.
ASX SMALL CAP LAGGARDS
Today’s best performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| EDE | Eden Inv Ltd | 0.001 | -50% | 164,997 | $7,356,542 |
| IEC | Intra Energy Corp | 0.002 | -33% | 2,701,597 | $5,072,345 |
| SIH | Sihayo Gold Limited | 0.002 | -33% | 1,060,128 | $36,612,769 |
| MSI | Multistack Internat. | 0.009 | -31% | 1,982 | $1,771,951 |
| CTN | Catalina Resources | 0.003 | -25% | 1,000,000 | $4,953,948 |
| LSR | Lodestar Minerals | 0.002 | -25% | 913,963 | $4,046,795 |
| MRD | Mount Ridley Mines | 0.002 | -25% | 1,090,000 | $15,569,766 |
| OAR | OAR Resources Ltd | 0.002 | -25% | 38,269 | $6,306,622 |
| 8VI | 8Vi Holdings Limited | 0.045 | -25% | 8,015 | $2,514,685 |
| ALR | Altairminerals | 0.004 | -20% | 2,009,537 | $17,941,221 |
| KPO | Kalina Power Limited | 0.004 | -20% | 1,187,105 | $12,431,970 |
| 1MC | Morella Corporation | 0.003 | -17% | 888,629 | $18,536,398 |
| BPP | Babylon Pump | 0.005 | -17% | 797,900 | $14,997,294 |
| TAS | Tasman Resources Ltd | 0.005 | -17% | 418,030 | $4,276,016 |
| FTL | Firetail Resources | 0.051 | -15% | 41,755 | $8,934,333 |
| MKT | The Market Limited | 0.170 | -15% | 20,029 | $64,194,516 |
| ASR | Asra Minerals Ltd | 0.006 | -14% | 4,037,436 | $11,647,970 |
| EMP | Emperor Energy Ltd | 0.012 | -14% | 1,800,319 | $5,368,507 |
| RMI | Resource Mining Corp | 0.019 | -14% | 1,026,994 | $14,131,652 |
| SCN | Scorpion Minerals | 0.020 | -13% | 899,383 | $9,417,492 |
| AQD | Ausquest Limited | 0.014 | -13% | 878,564 | $13,202,388 |
| AQX | Alice Queen Ltd | 0.007 | -13% | 151,500 | $5,527,921 |
| BFC | Beston Global Ltd | 0.004 | -13% | 3,050,390 | $7,988,188 |
| CMB | Cambium Bio Limited | 0.007 | -13% | 221,935 | $6,128,738 |
TRADING HALTS
Galan Lithium (ASX:GLN) – pending the release of an announcement regarding a capital raising.
Si6 Metals (ASX:SI6) – pending an announcement in relation to Brazilian exploration results.
Magmatic Resources (ASX:MAG) – pending an announcement regarding a capital raising.
CuFe (ASX:CUF) – halt requested in respect of a proposed capital raising.
Peninsula Energy (ASX:PEN) – ending an announcement regarding a proposed capital raising.
Brazilian Critical Minerals (ASX:BCM) – pending a material capital raising.
