On Stockhead today, the directors buying their own dip in the downturn, why small caps are set to rebound strongest, and is the real ‘gas-led recovery’ we need?
But first, the day ahead.
Not a lot going on, tbh. We stole Eddy’s diary and found “US consumer sentiment for June, US new home sales for May” and “China current account for the March quarter”, which is a bit tedious. But we enjoyed the possibly illegal French lithographs.
And no new listings either, which is probably a good thing, given the way the last lot have headed.
Let’s just all thank God it’s Friday then. That at least means The Secret Broker, Gold Digger and Christian Edwards’ Weekly Wrap at various points during the day. Plus beers, if you’re into that sort of thing.
Don’t look away.
TRADING HALTS
The following companies are in trading halts and are expected out in the coming days:
Diatreme Resources Limited (ASX:DRX) – Capital raising and a corporate transaction.
Nuheara Limited (ASX:NUH) – Capital raising.
YPB Group Ltd (ASX:YPB) – … Capital raising.
Panther Metals Ltd (ASX:PNT) – Not capital raising! (it’s an exploration results announcement).
MARKETS
Gold: $US1,823.20 (-0.77%)
Silver: $US20.96 (-2.00%)
Nickel (3mth): $US24,000/t (-1.84%)
Copper (3mth): $US8,337/t (-5.11%)
Lithium Carbonate, China (Benchmark Minerals Intelligence, June 17): $US69,750/t (0.4% weekly)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, June 17): $US70,875/t (0.0% weekly)
Oil (WTI): $US103.98 (-2.08%)
Oil (Brent): $US109.66 (-1.86%)
Iron 62pc Fe: $US131.45 (+2.76%)
AUD/USD: 0.6898 (-0.10%)
Bitcoin: $US20,721 (+3.54%)
WHAT GOT YOU TALKING YESTERDAY?
Impossible to ignore the ASX small caps soap opera of the century:
But it’s still hard to keep those lithium fanbois eyes off anything with a whiff of hopium about it:
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Also, be sure to check in at 10.20am each day for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.
YESTERDAY’S BIGGEST SMALL CAP WINNERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| PYG | Paygroup Limited | 0.94 | 158% | 7,362,186 |
| AR9 | Archtis Limited | 0.155 | 55% | 3,575,688 |
| PFE | Pantera Minerals | 0.15 | 50% | 599,946 |
| BFC | Beston Global Ltd | 0.08 | 40% | 9,243,738 |
| ARO | Astro Resources NL | 0.004 | 33% | 650,012 |
| CFO | Cfoam Limited | 0.004 | 33% | 1,853,500 |
| 3DP | Pointerra Limited | 0.245 | 29% | 1,395,141 |
| MGG | Mogul Games Grp Ltd | 0.0025 | 25% | 8,411,816 |
| TMX | Terrain Minerals | 0.01 | 25% | 4,284,695 |
| CNB | Carnaby Resource Ltd | 0.86 | 23% | 1,445,436 |
| HHR | Hartshead Resources | 0.027 | 23% | 8,291,382 |
| BEX | Bike exchange Ltd | 0.028 | 22% | 583,416 |
| TTT | Titomic Limited | 0.255 | 21% | 826,500 |
| AUK | Aumake Limited | 0.006 | 20% | 11,068,217 |
| DXN | DXN Limited | 0.006 | 20% | 11,191,776 |
| TD1 | Tali Digital Limited | 0.006 | 20% | 9,669,454 |
| NUC | Nuchev Limited | 0.215 | 19% | 18,571 |
| APW | Aims Pror Sec Fund | 1.21 | 19% | 27,868 |
| TEM | Tempest Minerals | 0.064 | 19% | 53,426,227 |
| NOU | Noumi Limited | 0.13 | 18% | 201,422 |
| MRI | My Rewards International | 0.059 | 18% | 765,237 |
| WSI | Weststar Industrial | 0.17 | 17% | 50,000 |
| SMX | Security Matters | 0.105 | 17% | 1,713 |
| ATU | Atrum Coal Ltd | 0.007 | 17% | 2,890,699 |
| KKO | Kinetiko Energy Ltd | 0.058 | 16% | 208,039 |
Payroll, HR and human capital management specialist PayGroup (ASX:PYG) says it’s mulling a parachuted $120 million takeover bid from American startup unicorn Deel.
Under a scheme implementation agreement Deel’s Aussie business will snap up PayGroup in an all-cash bonanza.
But Deel’s deal is no steal – it looks like it might be a 175% premium on PYG’s last close around 36 cents. PYG’s shareholders agree, because they sent it up 148% during the day’s trade.
YESTERDAY’S BIGGEST SMALL CAP LOSERS
(Stocks highlighted in yellow fell after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| XST | Xstate Resources | 0.002 | -33% | 130,000 |
| LLL | Leo Lithium Limited | 0.515 | -26% | 41,601,797 |
| AFW | Applyflow Limited | 0.0015 | -25% | 200,000 |
| MCT | Metalicity Limited | 0.003 | -25% | 2,002,033 |
| CRS | Caprice Resources | 0.062 | -24% | 197,250 |
| MTM | Mtmongerresources | 0.1 | -23% | 202,681 |
| ORN | Orion Minerals Ltd | 0.017 | -23% | 4,149,027 |
| G88 | Golden Mile Res Ltd | 0.029 | -22% | 8,963,316 |
| DEX | Duke Exploration | 0.061 | -21% | 259,374 |
| SMS | Starmineralslimited | 0.1 | -20% | 54,079 |
| AO1 | Assetowl Limited | 0.002 | -20% | 2,500,000 |
| AQX | Alice Queen Ltd | 0.004 | -20% | 11,366,305 |
| SIH | Sihayo Gold Limited | 0.002 | -20% | 55,000 |
| NIM | Nimyresourceslimited | 0.345 | -20% | 10,400 |
| COE | Cooper Energy Ltd | 0.24 | -19% | 34,410,301 |
| OKJ | Oakajee Corp Ltd | 0.035 | -19% | 30,000 |
| AWV | Anova Metals Ltd | 0.009 | -18% | 960,477 |
| BMR | Ballymore Resources | 0.16 | -18% | 142,017 |
| DM1 | Desert Metals | 0.16 | -18% | 259,833 |
| KLI | Killiresources | 0.16 | -18% | 124,674 |
| NYM | Narryermetalslimited | 0.115 | -18% | 198,473 |
| AHN | Athena Resources | 0.0165 | -18% | 8,415,002 |
| CVR | Cavalierresources | 0.165 | -18% | 202,500 |
| ICE | Icetana Limited | 0.019 | -17% | 482,124 |
| AE1 | Aerison | 0.12 | -17% | 224,018 |
Emma Davies has the skinny on what happened to Leo Lithium (ASX:LLL) on its debut yesterday.
She says the near-term producer and litmus test for the lithium sector listed at 11am AEST after an $100m IPO at $0.70.
It closed $0.52 per share, down almost 26% from its listing price. Lithium can’t find a trick right now.
The Firefinch (ASX:FFX) spinoff is focused on the ‘Goulamina’ lithium project in Mali, which is expected to be one of the largest hard rock lithium mines in the world once it enters production in H1 2024.
Goulamina is so advanced because of all the hard work done by Firefinch — then called Birimian – during the last lithium boom.
And a bit of an unusual one – Golden Mile Resources (ASX:G88) copped a please explain from the ASX, but instead of a speeding ticket, it was an ‘Oi, you’re holding up the traffic’ query. It dropped from 0.037 to 0.29 (21%) and says it has no idea why. Which is a bit sad.