Rise and Shine: Everything you need to know before the ASX opens
Pic: Getty Images
Good morning everyone, and welcome to Friday, October 11, 2024 – an important date in the history of exchange rates.
That’s because it was on this day in 1923 that Germany hit an all-time low with the value of the Mark, when it sank to an exchange rate of 10 billion per English Pound.
And it was on this day in 1927 that Major League Baseball star Lou Gehrig was named MVP, a few years before he shockingly came down with a disease that had the same name as him.
Luckily for you, you won’t actually have to be the victim of a weirdly prescient coincidence 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$2,613.21/oz (+0.19%)
Silver: US$30.47/oz (-0.19%)
Iron Ore: US$106.85/t (+1.88%)
Nickel (3mth): US$17,261/t (-0.86%)
Copper (3mth): US$9,938/t (+4.29%)
Zinc: US$3,000/t (-2.66%)
Oil (WTI): US$73.84/bbl (+0.68%)
Oil (Brent): US$77.09/bbl (+0.83%)
AUD/USD: 0.6729 (+0.18%)
Bitcoin: US$64,526.50 (-1.66%)
WHAT GOT YOU TALKING
What does oracle Guy Le Page have on his lithium radar this week? Why, it’s Wildcat Resources – but you’ll need to read this to find out why.
Guy Le Page goes into what’s driving metals markets before launching into the lithium largesse of Wildcat Resources as his stock of the week. https://t.co/UbVn2w1oSA #ASX $WC8 @WildcatRes_WC8
— Stockhead (@StockheadAU) October 10, 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 |
|---|---|---|---|---|---|
| 1TT | Thrive Tribe Tech | 0.002 | 100% | 300,000 | $611,622 |
| DBO | Diabloresources | 0.026 | 44% | 1,273,275 | $1,855,286 |
| LTM | Arcadium Lithium PLC | 8.215 | 39% | 33,527,272 | $2,038,596,718 |
| SOR | Strategic Elements | 0.050 | 39% | 9,234,009 | $16,877,104 |
| VKA | Viking Mines Ltd | 0.011 | 38% | 8,519,972 | $8,500,734 |
| ARC | ARC Funds Limited | 0.120 | 36% | 87,904 | $3,443,076 |
| AAU | Antilles Gold Ltd | 0.004 | 33% | 1,004,133 | $5,567,228 |
| CCZ | Castillo Copper Ltd | 0.008 | 33% | 3,209,414 | $7,797,032 |
| YAR | Yari Minerals Ltd | 0.004 | 33% | 155,000 | $1,447,073 |
| M24 | Mamba Exploration | 0.014 | 27% | 1,168,303 | $2,068,905 |
| PNT | Panthermetalsltd | 0.028 | 27% | 13,127,890 | $5,177,670 |
| ROG | Red Sky Energy. | 0.008 | 25% | 28,874,037 | $32,533,363 |
| STM | Sunstone Metals Ltd | 0.008 | 25% | 19,380,983 | $25,955,422 |
| 88E | 88 Energy Ltd | 0.003 | 25% | 11,616,000 | $57,867,624 |
| AIV | Activex Limited | 0.005 | 25% | 80,000 | $862,010 |
| IBG | Ironbark Zinc Ltd | 0.003 | 25% | 29,188 | $3,667,296 |
| TMK | TMK Energy Limited | 0.003 | 25% | 8,364,450 | $15,183,224 |
| RSH | Respiri Limited | 0.056 | 24% | 4,956,027 | $58,093,602 |
| TAT | Tartana Minerals Ltd | 0.037 | 23% | 35,918 | $5,479,377 |
| BCB | Bowen Coal Limited | 0.009 | 21% | 43,569,577 | $20,513,428 |
| VR1 | Vection Technologies | 0.009 | 21% | 7,443,759 | $9,286,123 |
| ICE | Icetana Limited | 0.023 | 21% | 50,000 | $5,027,940 |
| AMM | Armada Metals | 0.012 | 20% | 500,000 | $2,080,000 |
Yesterday’s Small Cap Winners included:
Strategic Elements (ASX:SOR) announced the launch of the Energy Ink “Cell to Sheet Program”, which the company says is “aimed at creating larger-scale prototypes and demonstrators with significantly increased energy generated from moisture”.
SOR MD Charles Murphy says as Energy Ink is a pioneering technology, much work was required to design the ‘Cell to Sheet’ program and prepare modified ink and materials for trial in automated machinery.
“While much of this foundational work has not been externally visible, achieving this progress in such a brief time is a credit to the entire team,” Murphy said.
“The next phase could revolutionise our ability to generate energy from moisture and enable us to attract global collaborators.”
Arcadium Lithium (ASX:LTM) rose ~39% after Rio Tinto (ASX:RIO) announced a $10 billion takeover, accepted by the lithium miner’s board, after market close on Wednesday. The deal is expected to close in mid-2025, but requires the support of shareholders, a vocal few of whom have called the counter-cyclical bid a lowball offer.
READ: Rio gets its lithium deal in planned $10bn Arcadium takeover
A review of Viking Mines (ASX:VKA)’s first hit gold mine has uncovered substantial, historical and unmined drill intercepts that show some bonanza grades of up to 77.6g/t gold.
The explorer says the hits reflect the narrow vein, high-grade style of mineralisation present in the area and is mulling over getting the drill bit out to test the targets.
Hits include:
- 4m at 26.1 g/t Au from 58m at hole BFH005
- 3m at 77.6 g/t Au from 224m at hole BFH030; and
- and 4.9m at 64.8 g/t Au from 62.1m FHU045.
Antilles Gold (ASX:AAU) was up after issuing a retraction of its October 8 announcement, parts of which fell foul of ASX listing rules 5.16, 5.17, and 5.19 by including forecast financial information derived from a production target. The current announcement also contains new test work results for the proposed La Demajagua gold-silver-antimony open-pit mine in Cuba, claiming “it is expected that the production of 3,982tpa of a precipitate with 48% Sb (containing 1,911tpa antimony) will be realised from the 50,025 tpa gold-arsenopyrite concentrate containing 4.9% antimony.”
Tartana Minerals (ASX:TAT) has entered into a non-binding agreement to acquire Queensland Strategic Metals, which holds ten EPMs and one ML covering copper, tin, tungsten, antimony and silver and gold prospects. The key projects include Laheys Creek, Comeno, De Wett, Lady Agnes and Tap’n’Toe, Fluorspar in the which polymetallic (Sn, Pb, Cu, Ag, Au, REE, Indium) prospects relate to Carboniferous-Permian granites.
Vection Technologies (ASX:VR1) climbed on news of the execution of a binding $3.6m XR software licences distribution agreement with Cometa SpA, a leader in the education sector serving over 2,500 high schools.The companies expect to deliver immersive classroom solutions to 500 high schools in Italy by FY25.
Kingfisher Mining (ASX:KFM) was up on news that it has picked up high grade rockchip samples at Ring Well, with copper values of 20.2% and 21.6% in an outcropping surface zone with 44m of strike exposed. Ring Well prospect has had no significant prior work and has not been drill tested or the subject of any surface Geophysics, and on-going investigations looking to increase strike extents of the Ring Well prospect and evaluation of other areas previously highlighted in recent field evaluation.
And, assistive communication group Control Bionics (ASX:CBL) has flagged at least 20% revenue growth in the current year, on the back of a record sales backlog that is now being processed more expeditiously. The company also says it is close to cash-flow even (excluding corporate costs) and expects to be “near term” EBITDA positive “in all key geographic markets” for its core assisted communication arm.
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 |
|---|---|---|---|---|---|
| ATV | ActivePort | 0.021 | -57% | 18,151,233 | $17,318,635 |
| ATH | Alterity Therap Ltd | 0.003 | -25% | 2,034 | $21,281,344 |
| BNL | Blue Star Helium Ltd | 0.003 | -25% | 320,000 | $9,724,426 |
| RNE | Renu Energy Ltd | 0.002 | -25% | 2,612,500 | $1,690,490 |
| PR1 | Pureresourceslimited | 0.120 | -20% | 230,355 | $6,586,940 |
| AVE | Avecho Biotech Ltd | 0.002 | -20% | 2,666,666 | $7,923,243 |
| INP | Incentiapay Ltd | 0.004 | -20% | 50,000 | $6,326,200 |
| DAL | Dalaroometalsltd | 0.021 | -19% | 551,391 | $6,457,750 |
| ID8 | Identitii Limited | 0.010 | -17% | 852,000 | $7,807,290 |
| NES | Nelson Resources. | 0.003 | -17% | 1,583,333 | $1,915,783 |
| PUR | Pursuit Minerals | 0.003 | -17% | 1,963,332 | $10,906,200 |
| PLN | Pioneer Lithium | 0.140 | -15% | 162,378 | $5,244,391 |
| BMO | Bastion Minerals | 0.006 | -14% | 50,000 | $3,600,573 |
| NIM | Nimyresourceslimited | 0.060 | -14% | 227,000 | $12,145,953 |
| PAB | Patrys Limited | 0.003 | -14% | 1,287,432 | $7,201,066 |
| WMG | Western Mines | 0.220 | -14% | 225,243 | $21,713,525 |
| IBX | Imagion Biosys Ltd | 0.032 | -14% | 542,883 | $1,318,922 |
| NAG | Nagambie Resources | 0.013 | -13% | 1,536,190 | $11,949,535 |
| BM8 | Battery Age Minerals | 0.100 | -13% | 369,010 | $10,697,776 |
| CDR | Codrus Minerals Ltd | 0.020 | -13% | 52,770 | $3,803,913 |
| EMS | Eastern Metals | 0.020 | -13% | 710,855 | $2,614,554 |
TRADING HALTS
James Bay Minerals (ASX:JBY) – material acquisition and associated capital raising.
Pilot Energy (ASX:PGY) – pending an update to the status of the Cliff Head Sale and Purchase Agreement.
DXN (ASX:DXN) – pending an update in relation to a capital raising.
CuFe (ASX:CUF) – pending an announcement in relation to the results of a shareholder meeting.
Zeotech (ASX:ZEO) – pending an announcement regarding a capital raising.
Viridis Mining and Minerals (ASX:VMM) – pending the release of an announcement regarding a capital raising.
Forrestania Resources (ASX:FRS) – for the purposes of considering, planning and executing a capital raising.
RocketBoots (ASX:ROC) – pending an announcement in relation to a capital raising.
Infinity Mining (ASX:IMI) – pending the release of a capital raising announcement.
Triangle Energy (ASX:TEG) – pending an announcement is made relating to the Cliff Head Asset Sale.
Raiden Resources (ASX:RDN) – pending an announcement in relation to a proposed capital raising.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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