Play Piano Man, Fido. Pic: Getty Images
Rise and Shine: Everything you need to know before the ASX opens
News
share
Good morning everyone, and welcome to Friday, October 04, 2024 – an important date in the history of job losses caused by automation.
That’s because it was on this day that Edward Leveaux patented the automatic player piano – what we’d call a pianola – which is basically a piano that ran on punch cards to play music.
At the time, a scare campaign against the automation of jobs suggested that this would be the beginning of the end for live piano performances, but those in favour of the new mechanical pianos were correct in their assertions that the campaign was the work of “men with tiny pianists” or something.
Luckily for you, you won’t need to be concerned about automation stealing yer job in order to get your hands on good pre-market info today.
That’s because – as always – we’ve worked super-hard to gather together lots of fiddly little things below, so you don’t need to go ferreting all over the internet for your ASX info this morning.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,646.99/oz (-0.50%)
Silver: US$31.47/oz (-1.20%)
Nickel (3mth): US$18,153/t (+2.50%)
Copper (3mth): US$10,084.50/t (+1.06%)
Zinc: US$3,176.50/t (+0.86%)
Oil (WTI): US$71.06/bbl (+1.37%)
Oil (Brent): US$74.83/bbl (+1.26%)
Iron Ore: US$108.90/t (+0.72%)
AUD/USD: 0.6862 (-0.3%)
Bitcoin: US$61,254.50 (+1.02%)
WHAT GOT YOU TALKING
Resources legend Barry FitzGerald’s chat with Antipa Minerals (ASX:AZY) boss Roger Mason caught the ear, with Greatland Gold’s US$475 million deal opening doors in WA’s Paterson Province.
Explorers Podcast host Barry FitzGerald is joined by Antipa Minerals managing director Roger Mason to chat all things gold in the Paterson.https://t.co/GpF8nWH96Y #ASX $AZY @AntipaMinerals
— Stockhead (@StockheadAU) October 3, 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 |
|---|---|---|---|---|---|
| AKN | Auking Mining Ltd | 0.006 | 50% | 3,389,246 | $1,410,281 |
| ERL | Empire Resources | 0.003 | 50% | 1,585,059 | $2,967,826 |
| VML | Vital Metals Limited | 0.003 | 50% | 6,500,000 | $11,790,134 |
| HIQ | Hitiq Limited | 0.020 | 43% | 839,747 | $4,925,830 |
| VAR | Variscan Mines Ltd | 0.010 | 43% | 2,952,664 | $3,101,003 |
| XPN | Xpon Technologies | 0.010 | 43% | 3,429,051 | $2,537,090 |
| PFT | Pure Foods Tas Ltd | 0.021 | 40% | 22,420 | $1,831,384 |
| FIN | FIN Resources Ltd | 0.007 | 40% | 344,795 | $3,246,344 |
| OEC | Orbital Corp Limited | 0.145 | 38% | 882,823 | $15,335,976 |
| ERA | Energy Resources | 0.011 | 38% | 12,960,509 | $177,186,394 |
| GMN | Gold Mountain Ltd | 0.004 | 33% | 2,771,346 | $11,722,420 |
| H2G | Greenhy2 Limited | 0.004 | 33% | 5,635,363 | $1,794,553 |
| MHC | Manhattan Corp Ltd | 0.002 | 33% | 9,173,193 | $4,638,800 |
| VRC | Volt Resources Ltd | 0.004 | 33% | 1,573,020 | $12,476,034 |
| YAR | Yari Minerals Ltd | 0.004 | 33% | 58,223 | $1,447,073 |
| ENX | Enegex Limited | 0.020 | 33% | 69,710 | $5,533,740 |
| NYR | Nyrada Inc. | 0.115 | 32% | 2,884,881 | $15,852,157 |
| ILA | Island Pharma | 0.105 | 31% | 4,142,050 | $10,151,108 |
| INV | Investsmart Group | 0.140 | 27% | 10,000 | $15,693,753 |
| LU7 | Lithium Universe Ltd | 0.015 | 25% | 7,755,349 | $7,126,963 |
| MBK | Metal Bank Ltd | 0.025 | 25% | 540,524 | $7,809,186 |
| CTO | Citigold Corp Ltd | 0.005 | 25% | 1,125,011 | $12,000,000 |
| A8G | Australasian Metals | 0.135 | 23% | 69,919 | $5,733,254 |
Island Pharmaceuticals (ASX:ILA) jumped nearly 40% after successfully dosing all subjects in the Phase 2a part of its ISLA-101 clinical trial for dengue fever. This trial, called PROTECT, includes both a preventative (Phase 2a) and a therapeutic (Phase 2b) approach. Starting today, subjects will be exposed to an attenuated strain of the dengue virus, and results from Phase 2a are expected by the end of 2024. The Phase 2b trial is set to begin in January 2025.
As part of this, ILA is raising $3.5 million in a two-tranche placement to achieve its “near term inflexion points”. The raising was struck at 7 cents per share, a 12% discount, with one attached options for every share issue at the same price. Half of the oppies expire within 12 months of issue; the other half within 24 months. Subject to shareholder approval, the placement was supported by well-known biotech names including Dr Daniel Tillett, the head of cancer drug repurposer Race Oncology (ASX:RAC).
Chariot Corporation (ASX:CC9) is up on announcing a tactical change to monetising its Black Mountain hard rock lithium project in Wyoming, USA. The junior now envisions a shift from exploring for a large-scale resource to instead test the viability of a pilot mine at the project that could rapidly produce spodumene concentrate to capitalise on the growing lithium supply deficit in the North American market.
The contemplated modular plant design is expected to reduce upfront costs and offer flexibility to scale up rapidly, and says the new long-term pilot mine strategy could provide short-term cash flow and optimise future development options – including its original large-scale mining plans for the project.
The new plan near-term consists of 4300m of Phase 2 RC drilling to define a high-priority, small-scale lithium resource to underpin the pilot mine and establish the foundation for future larger-scale resource definition.
pXRF results from preliminary field mapping at Golden Mile Resources (ASX:G88)’s Ford prospect at the Pearl project have highlighted an 8m-wide fault zone at surface hosting visible copper and polymetallic mineralisation, with:
- Copper values up to 13.4%
- Lead values up to 1.29%; and
- Zinc values up to 7.22%.
The project is certainly shaping up as a polymetallic play, the news coming just days after the company reported exceptional rock chip assays of up to 930g/t silver, 10.05% copper, and 8.09% zinc from first pass sampling at the Odyssey prospect.
Firebird Metals (ASX:FRB) was up on yesterday’s news. The design for FRB’s proposed battery-grade manganese sulphate plant in Jinshi, China has been approved – a crucial step in the Middle Kingdom’s development process for these types of projects. Plans for the development of the plant will cover a total land area of 12.09 hectares, with a building area of 84,399km2 and a designated greening area of 11,960km2.
FRB says through the approval of preliminary design, ~80% of the requirements needed for the Building and Construction Permit have been completed.
Variscan Mines (ASX:VAR)’s shares are through the roof today as it sets an AGM date and investors mull over a $2m entitlement offer it received underwritten support from major shareholder Zinc GroupCo. Funds will be used to accelerate exploration and drilling programs and development studies at the high grade zinc Novales-Udias project in Cantabria, northern Spain.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Today’s worst performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| INP | Incentia Pay Ltd | 0.003 | -40% | 60,988 | $6,219,650 |
| TMK | TMK Energy Limited | 0.002 | -33% | 13,262,642 | $20,764,836 |
| IMI | Infinitymining | 0.031 | -28% | 401,858 | $5,836,998 |
| ALR | Altairminerals | 0.003 | -25% | 12,539,702 | $17,186,310 |
| ATH | Alterity Therap Ltd | 0.003 | -25% | 10,832,351 | $21,281,344 |
| PAB | Patrys Limited | 0.003 | -25% | 2,372,969 | $8,229,789 |
| RFT | Rectifier Technolog | 0.007 | -22% | 606,831 | $12,437,856 |
| UCM | Uscom Limited | 0.011 | -21% | 25,101 | $3,506,678 |
| XGL | Xamble Group Limited | 0.022 | -21% | 505,040 | $8,292,399 |
| EVR | Ev Resources Ltd | 0.004 | -20% | 20,420 | $6,981,357 |
| OVT | Ovanti Limited | 0.004 | -20% | 9,979,043 | $7,781,742 |
| PUR | Pursuit Minerals | 0.002 | -20% | 24,742 | $9,088,500 |
| RIL | Redivium Limited | 0.004 | -20% | 240,788 | $13,734,274 |
| THR | Thor Energy PLC | 0.013 | -19% | 35,000 | $3,700,372 |
| AOA | Ausmon Resorces | 0.003 | -17% | 490,655 | $3,176,998 |
| JAV | Javelin Minerals Ltd | 0.003 | -17% | 1,320,000 | $12,830,539 |
| PRM | Prominence Energy | 0.005 | -17% | 16,667 | $2,335,058 |
| TON | Triton Min Ltd | 0.010 | -17% | 127,109 | $18,820,665 |
| WML | Woomera Mining Ltd | 0.003 | -17% | 587,673 | $6,165,223 |
| GRE | Greentechmetals | 0.105 | -16% | 145,811 | $10,384,997 |
| IRX | Inhalerx Limited | 0.028 | -15% | 45,000 | $6,262,310 |
| 1AI | Algorae Pharma | 0.006 | -14% | 1,007,385 | $11,811,763 |
TRADING HALTS
Immuron (ASX:IMC) – To analyse CampETEC Hyperimmune Bovine Colostrum clinical trial data
Adslot (ASX:ADS) – Cap raise
Battery Age Minerals (ASX:BM8) – Cap raise
AusQuest (ASX:AQD) – Cap raise
Arika Resources (ASX:ARI) – Cap raise
At Stockhead, we tell it like it is, while Golden Miles Resources, Island Pharmaceuticals and Chariot Corporation are Stockhead advertisers, they did not sponsor this article.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Read MoreMarkets
