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

News Gregor Stronach
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Pic via Getty Images

Good morning everyone, and welcome to Tuesday, October 8, 2024 – an important date in the history of tragic misunderstandings.

That’s because it was on this day in 1769 that Captain James Cook landed in New Zealand for the first time, near present-day Gisborne at Poverty Bay on the East Coast of the North Island.

The arrival of Cook’s boats caused a certain amount of consternation – as you’d expect – among the local Maori people, and a delegation was sent to meet the boats and the Europeans coming ashore.

As was tradition at the time, they performed a ceremonial challenge to the newcomers, which was promptly misinterpreted, leading to the shooting and death of Ngāti Oneone leader, Te Maro, creating a terrible first impression of Cook and his men.

Luckily for you, there’s no such challenge standing between you and all the pre-market info you need for 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$2,651.00/oz (-0.08%)

Silver: US$31.80/oz (-1.21%)

Nickel (3mth): US$18,130/t (+0.77%)

Copper (3mth): US$9,904/t (-0.40%)

Zinc: US$3,172/t (-0.13%)

Oil (WTI): US$75.56/bbl (+1.60%)

Oil (Brent): US$79.08/bbl (+0.13%)

AUD/USD: 0.6782 (-0.13%)

Bitcoin: US$63,110 (+1.34%)

 

WHAT GOT YOU TALKING

Copper got Kristie Batten talking, and writing.

“The copper market looks to be awakening once again with prices rising over US$10,000 per tonne last week,” she writes here, highlighting some projects to keep an eye on.

 

MONDAY’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
KM1 Kali Metals 0.195 63% 3,449,006 $9,219,315
MEL Metgasco Ltd 0.006 50% 7,357,191 $5,830,347
SI6 SI6 Metals Limited 0.002 50% 100,000 $2,368,859
LTM Arcadium Lithium PLC 6.170 48% 11,470,657 $1,441,850,132
RHY Rhythm Biosciences 0.105 38% 4,675,064 $18,893,353
CR9 Corellares 0.012 33% 512,324 $4,185,832
HVY Heavymineralslimited 0.135 29% 285,176 $7,039,577
GLN Galan Lithium Ltd 0.145 26% 9,465,507 $68,547,402
RIM Rimfire Pacific 0.039 26% 8,922,010 $71,152,267
PEC Perpetual Res Ltd 0.015 25% 20,165,383 $8,832,365
IR1 Irismetals 0.225 25% 335,473 $25,039,797
WC8 Wildcat Resources 0.320 23% 10,289,297 $319,556,717
ARL Ardea Resources Ltd 0.450 20% 180,798 $74,881,093
PR1 Pureresourceslimited 0.120 20% 72,731 $4,391,293
FTC Fintech Chain Ltd 0.006 20% 178,651 $3,253,848
SFG Seafarms Group Ltd 0.003 20% 270,786 $12,091,498
IAM Income Asset 0.061 20% 5,489 $16,874,412
LTR Liontown Resources 0.885 20% 34,802,543 $1,794,503,611
FL1 First Lithium Ltd 0.190 19% 228,511 $12,744,577
ARV Artemis Resources 0.013 18% 2,126,576 $21,085,707
NMR Native Mineral Res 0.026 18% 996,000 $8,764,209
G11 G11 Resources Ltd 0.020 18% 8,050,702 $15,837,576
PLL Piedmont Lithium Inc 0.170 17% 2,548,824 $59,512,640
WordPress Table

Rhythm Biosciences (ASX:RHY), a predictive cancer diagnostics technology company, is also shooting up the bourse today, having announced it’s received the first batch of the ‘Alpha’ version of multiplex antibody detection kits developed and manufactured by the Company’s CMO, Quansys Biosciences, in the USA.

Meanwhile, Kali Metals (ASX:KM1) has expanded its JV with Chilean lithium giant SQM, adding two new tenements: DOM’s Hill and Pear Creek. Kali is acquiring the new DOM’s Hill tenements from major shareholder Kalamazoo Resources (ASX:KZR) for a cash consideration of $100,000, while the Peak Creek tenement is being snapped up from KZR for just $20,000.

Arcadium Lithium (ASX:LTM) surged as Rio Tinto (ASX:RIO) confirmed its interest in acquiring the smaller company, known for its direct lithium extraction at the El Fenix site in Argentina’s Hombre Muerto Salar.

Speculation about a takeover has been growing since a report in The Australian suggested Arcadium and Albemarle as potential targets for Rio, which aims to secure a major producer as lithium valuations have dropped. Rio is also testing its own DLE technology at the Rincon project, with a pilot set for completion this year. Despite recent challenges in lithium prices, Arcadium plans to expand production from 5,000tpa to 170,000tpa LCE by 2028.

 

MONDAY’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
1TT Thrive Tribe Tech 0.001 -50% 4,457,092 $1,223,243
INP Incentiapay Ltd 0.002 -33% 326,222 $3,795,720
NES Nelson Resources. 0.002 -33% 3,000,000 $1,915,783
MBK Metal Bank Ltd 0.019 -30% 164,087 $10,542,401
BCB Bowen Coal Limited 0.009 -29% 236,228,026 $35,165,876
AQD Ausquest Limited 0.008 -27% 8,431,881 $9,087,641
ATH Alterity Therap Ltd 0.003 -25% 2,155,649 $21,281,344
IVX Invion Ltd 0.003 -25% 1,471 $27,066,367
MHC Manhattan Corp Ltd 0.002 -25% 1,200,000 $6,185,067
OVT Ovanti Limited 0.003 -25% 634,627 $6,225,393
RNE Renu Energy Ltd 0.002 -25% 63,449 $1,608,268
SIS Simble Solutions 0.003 -25% 2,000,000 $3,013,803
AVE Avecho Biotech Ltd 0.002 -20% 14,670,166 $7,923,243
VML Vital Metals Limited 0.002 -20% 559,991 $14,737,667
WAF West African Res Ltd 1.348 -19% 20,790,688 $1,895,033,022
BSN Basinenergylimited 0.028 -18% 49,911 $2,827,098
M2M Mtmalcolmminesnl 0.033 -18% 1,691,599 $8,999,025
IMC Immuron Limited 0.084 -16% 2,472,093 $22,799,835
FSG Field Solu Hldgs Ltd 0.017 -15% 785,813 $15,468,891
MRQ Mrg Metals Limited 0.003 -14% 468,714 $9,490,315
SRN Surefire Rescs NL 0.006 -14% 1,367,228 $13,904,155
TEG Triangle Energy Ltd 0.006 -14% 8,346,071 $14,560,938
WordPress Table

West African Resources (ASX:WAF) was down 19%  despite affirming its guidance and stating that the Burkina Faso government remains supportive of its gold mining activities, with no indications of any plans to revoke permits.

 

IN CASE YOU MISSED IT

Arizona Lithium (ASX:AZL) has entered into agreements with Homestead Energy where on completion, it will raise $11m by selling non-core acreage and data at the Prairie lithium project.

Orthocell (ASX:OCC) has has delivered a second consecutive quarter of record revenue reporting $2.03m in Q1 FY25, up 7.82% on the $1.88m achieved in Q4 FY24 as the company gains traction with new and existing surgeons, translating to growing sales of Striate+ and Remplir. Striate+ is a trademarked, collagen membrane designed to support dental guided bone and tissue regeneration procedures. Remplir is OCC’s trademarked collagen wrap used for peripheral nerve repair.

Celsius Resources (ASX:CLA) has reached an agreement to build the capacity of qualified individuals from local communities ahead of early works this year at its flagship Maalinao-Caigutan-Biyog (MCB) copper-gold project in the Philippines. Under the memorandum of understanding with the Regional Technical Education and Skills Development Authority (TESDA), the company will develop and enhance the skills of the host and neighbouring communities’ workforce. This will encompass employment and business opportunities for early works as well as the subsequent construction and operations phases.

Arika Resources (ASX:ARI) has secured firm commitments from sophisticated investors to raise $3.2m via a placement at $0.025 per share to accelerate drilling at its Yundamindra gold project in WA. The project sits on a mining lease strategically located 65km south-east of Leonora – meaning it’s in close proximity to a number of mills in a hot gold-mining district and is easily accessible by road.

Belararox (ASX:BRX) has plans to drill up to 6,000m at the highly prospective Toro-Malambo-Tambo (TMT) in Argentina after executing a letter of intent with Consour Drilling. The TMT copper project is situated smack-bang in the middle of several large operating mines and neighbours Filo del Sol, the project being acquired by BHP (ASX:BHP) and Lundin for $4.5b.

 

TRADING HALTS

Echo IQ (ASX:EIQ) –  pending US FDA clearance and the appointment of a US based CEO
Vertex Minerals (ASX:VTX) – cap raise
Cyclone Metals (ASX:CLE) – pending announcement on pilot pellet production results
White Cliff Minerals (ASX:WCN) – cap raise
Riversgold (ASX:RGL) – cap raise and acquisition
Pilot Energy (ASX:PGY) – pending an offer  to acquire its 376MW solar farm development project being developed in Three Springs, WA
Matsa Resources (ASX:MAT) – entitlement offer prospectus

 

 

At Stockhead we tell it like it is. While AZL, OCC, CLA, ARI and BRX are all 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.

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