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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, growth grows at the edge of recession, 4 ASX stocks that could save the world and we’re up to our necks in avvos.
But first, the day ahead.
Local shares are set to open higher today. At 8am AEDT, the ASX 200 August futures is pointing up by 0.30%.
TRADING HALTS
The following companies are in trading halts and are expected out in the coming days:
Dart Mining NL (ASX:DTM) – There’s a “major” earn-in and joint venture agreement transaction in relation to its Dorchap Lithium Project on the table.
Lindian Resources (ASX:LIN) – There’s an update on the way about the proposed acquisition of Rift Valley Resource Developments and its Kangankunde Rare Earths Project in Malawi.
MedAdvisor (ASX:MDR) – MedAdvisor says that an announcement regarding a material acquisition and a capital raising is on the way, and you should get that mole on your upper thigh checked out by a specialist.
Greenland Minerals (ASX:GGG) – Market update on developments from the Greenland Government, which is most likely to not be about Vikings which is a shame.
Rafaella Resources (ASX:RFR) – Capital Raaaaaise! Sorry… just trying to jazz things up a little.
X2M Connect (ASX:X2M) – Capital Raisin’, which is just like a capital grape but heaps less juicy.
Tempus Resources (ASX:TMR) – It’s a capital raise.
Adavale Resources (ASX:ADD) – There’s a capital raise, and hey look – shiny things!
Santana Minerals (ASX:SMI) – There’s news of positive drilling results at the company’s Bendigo-Ophir Gold Project. Blistering guitar solo!
MPower Group (ASX:MPR) – Someone’s gonna raise some capital, baby!
Globe Metals & Mining (ASX:GBE) – Globe’s calling for a time-out, so it can get on top of managing its continuous disclosure requirements.
COMMODITY/ FOREX/ CRYPTO MARKET PRICES
Gold: $US1,719.18 (-0.42%)
Silver: $US18.41 (-0.92%)
Nickel (3mth): $US22,025/t (-0.44%)
Copper (3mth): $US7,482/t (+0.40%)
Lithium Carbonate, China (Benchmark Minerals Intelligence, June 30): $US69,750/t (0.0% weekly)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, June 30): $US70,875/t (0.0% weekly)
Oil (WTI): $US96.18 (+1.56%)
Oil (Brent): $US104.12 (+0.87%)
Iron 62pc Fe: $US105.42 (+2.49%)
AUD/USD: 0.6956 (+0.10%)
Bitcoin: $US22,052 (-3.33%)
WHAT GOT YOU TALKING YESTERDAY?
Guess what? Historical data shows that biotech is one the best sectors to put your money in over the long term.
For most biotech stocks, clinical trial readouts are what really move the share price needle — here are 10 crucial trials coming up for ASX biotechs in 2022.
Here are the Top 10 crucial trials coming up for ASX biotechs in 2022.https://t.co/eWSYJuT2fi$ASX#Biotech
— Stockhead (@StockheadAU) July 24, 2022
Keep up to date with Stockhead coverage or you’ll miss gold like that EVERY DAY. Follow our Twitter page.
For all you crypto lovers Stockhead’s Coinhead Facebook group is the place to share your views, insights, tips and ideas.
Also, be sure to check in preopen each day for ‘Market highlights and 5 ASX small caps to watch’, and 10.30am 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 | % | Market Cap |
|---|---|---|---|---|
| GNX | Genex Power Ltd | 0.195 | 44% | $186,998,913.90 |
| CLE | Cyclone Metals | 0.004 | 33% | $18,312,710.95 |
| NIS | Nickelsearch | 0.145 | 32% | $6,633,596.31 |
| SHN | Sunshine Gold Ltd | 0.036 | 29% | $13,099,036.44 |
| DTC | Damstra Holdings | 0.24 | 26% | $48,962,313.72 |
| CAU | Cronos Australia | 0.275 | 25% | $121,514,724.76 |
| GGX | Gas2Grid Limited | 0.0025 | 25% | $8,116,204.16 |
| PRM | Prominence Energy | 0.0025 | 25% | $4,849,217.64 |
| WBE | Whitebark Energy | 0.0025 | 25% | $11,296,438.39 |
| AWJ | Auric Mining | 0.08 | 23% | $3,951,111.97 |
| COY | Coppermoly Limited | 0.011 | 22% | $19,745,612.36 |
| THR | Thor Mining PLC | 0.011 | 22% | $9,620,108.76 |
| BCC | Beam Communications | 0.29 | 21% | $20,741,261.04 |
| ARE | Argonaut Resources | 0.003 | 20% | $9,015,511.96 |
| ODY | Odyssey Gold Ltd | 0.048 | 20% | $21,297,218.20 |
| RON | Roninresourcesltd | 0.16 | 19% | $3,914,742.96 |
| TCG | Turaco Gold Limited | 0.06 | 18% | $21,813,550.12 |
| NNG | Nexion Group | 0.098 | 17% | $6,793,164.50 |
| BEL | Bentley Capital Ltd | 0.07 | 17% | $4,567,675.08 |
| CBE | Cobre | 0.05 | 16% | $7,112,501.43 |
| MGL | Magontec Limited | 0.395 | 16% | $26,087,931.40 |
| DRE | Dreadnought Resources Ltd | 0.059 | 16% | $144,772,861.10 |
| ZGL | Zicom Group Limited | 0.074 | 16% | $13,731,840.51 |
| DRM | Demetallicalimited | 0.26 | 16% | $19,540,939.28 |
| CAQ | CAQ Holdings Ltd | 0.015 | 15% | $9,331,221.65 |
Genex Power (ASX: GNX) shares went heavenwards on this morning’s news of a takeover bid to acquire shares at 23 cents – a 70% premium to the company’s closing price last week.
The very keen consortium includes the Skip Essential Infrastructure Fund (SEIF) which currently holds 19.99% of GNX shares. Genex says the proposal was unsolicited and it hasn’t decided what to do.
Medical cannabis stock Cronos (ASX:CAU) reported a record quarter in Q4 FY2022, with total cash receipts of $23 million. Record annual cash receipts from customers for FY2022 of $70 million represents 245% year-on-year growth, it says.
$25m market cap goldie Odyssey Gold (ASX:ODY) returned ‘outstanding’ high-grade results like 4m at 53.9g/t gold from the Maybelle deposit in WA.
Part of the Tuckanarra Project in the Murchison Goldfields, Maybelle is where five shallow pits were mined back in the 1990s producing 101.1koz at an average grade of 3.9g/t gold.
Finally, magnesium play Magontec (ASX:MGL) blew the roof off with an expect net profit after tax of $13m for the first six months of 2022.
“Trading conditions have exceeded company expectations and reflect high underlying magnesium prices, volume growth in some product lines, and higher levels of demand,” exec chair Nic Andrew says.
“Importantly, this record result in the first half of FY2022 means that Magontec Limited has no net debt, as of 30th June 2022, and a robust financial platform.”
YESTERDAY’S BIGGEST SMALL CAP LOSERS
(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 | % | Market Cap |
|---|---|---|---|---|
| AUK | Aumake Limited | 0.004 | -33% | $4,628,681.54 |
| EVE | EVE Health Group Ltd | 0.001 | -33% | $7,575,724.00 |
| NTL | New Talisman Gold | 0.001 | -33% | $4,690,838.04 |
| LVT | Livetiles Limited | 0.06 | -29% | $78,456,811.01 |
| HXG | Hexagon Energy | 0.018 | -25% | $12,309,981.62 |
| MYG | Mayfield Group Ltd | 0.28 | -22% | $32,610,921.84 |
| ACB | A-Cap Energy Ltd | 0.068 | -22% | $107,221,852.48 |
| EML | EML Payments Ltd | 0.935 | -22% | $446,288,063.93 |
| NTM | Nt Minerals Limited | 0.023 | -21% | $18,383,121.17 |
| CMO | Cosmometalslimited | 0.135 | -21% | $4,336,700.00 |
| HAL | Halo Technologies | 0.465 | -18% | $73,170,680.39 |
| AOF | Australian Unity Off | 1.84 | -17% | $363,287,395.77 |
| MRL | Mayur Resources Ltd | 0.063 | -16% | $18,115,774.73 |
| FGL | Frugl Group Limited | 0.016 | -16% | $3,850,391.71 |
| ROC | Rocketboots | 0.11 | -15% | $4,127,500.00 |
| SGA | Sarytogan | 0.33 | -15% | $23,622,160.77 |
| APX | Appen Limited | 5.59 | -15% | $813,511,486.04 |
| DOU | Douugh Limited | 0.028 | -15% | $19,630,191.21 |
| OSX | Osteopore Limited | 0.14 | -15% | $19,349,259.27 |
| TBA | Tombola Gold Ltd | 0.0325 | -14% | $36,299,487.61 |
| ALM | Alma Metals Ltd | 0.012 | -14% | $10,352,611.60 |
| DXN | DXN Limited | 0.006 | -14% | $10,299,203.85 |
| RMX | Red Mount Min Ltd | 0.006 | -14% | $11,496,547.01 |
| CTT | Cettire | 0.455 | -14% | $202,056,256.60 |
| DEV | Devex Resources Ltd | 0.255 | -14% | $92,684,270.86 |
