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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, why vanadium redox flow batteries aren’t a big deal – yet, why graphite is poised to be lithium 2.0, and who won the ASX and crypto in September?
But first, the day ahead.
There are holidays today in NSW, ACT, QLD, and South Australia.
Today, Corelogic issues the national home value index for September.
“The index recorded its largest monthly decline since 1983 in August, down 1.6%,” Commsec says.
“CBA economists expect home prices to fall another 1.5% in September.”
The release of the Melbourne Institute inflation gauge for September will also be closely watched after headline prices fell for the first time in four months in August, down 0.5%.
TRADING HALTS
The following companies are in trading halts and are expected out in the next few days:
Infinity Lithium Corporation (ASX: INF) – permitting update at its San José Lithium Project
Widgie Nickel Limited (ASX:WIN) – exploration results at Mt Edwards Project
QEM Ltd (ASX:QEM) – capital raise
Danakali (ASX: DNK) – potential asset disposal
Fiji Kava (ASX:FIJ) – capital raise
Yandal Resources (ASX:YRL) – application with the Federal Court of Australia or Supreme Court of Western Australia seeking declaratory relief
My Rewards International (ASX:MRI) – planned pro-rata rights issue to existing shareholders
Kinetiko Energy (ASX:KKO) –capital raise
Vanadium Resources (ASX:VR8) – Definitive Feasibility Study for Steelpoortdrift vanadium project
Paradigm Biopharmaceuticals (ASX:PAR) – The company has received biomarker and clinical data from an independent contract research organisation (CRO) relating to its phase II PARA_008 clinical trial. The company is requesting a trading halt so it has time to analyse the data and prepare an ASX announcement and webinar presentation on the data, to be released to the market on Tuesday 4 October 2022.
COMMODITY/ FOREX/ CRYPTO MARKET PRICES
Gold: $US1,660.52 (+0.01%)
Silver: $US19.004 (+1%)
Nickel (3mth): $US22,348/t (+2.49%)
Copper (3mth): $US7,542/t (+1.62%)
Lithium Carbonate, China (Benchmark Minerals Intelligence, Sept 28): $US70,925/t (+102% year-to-date)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, Sept 28): $US70,800/t (+139.9% year-to-date)
Oil (WTI): $US79.704 (-1.88%)
Oil (Brent): $US85.35 (-2.10%)
Iron 62pc Fe: $US98.00 (-2.97%)
AUD/USD: 0.63982 (-1.81%)
Bitcoin: $US19,2784 (-0.77%)
WHAT GOT YOU TALKING OVER THE WEEKEND?
There are reports a major investment bank is on the verge of collapse.
Credible source tells me a major international investment bank is on the brink
— David Taylor (@DaveTaylorNews) October 1, 2022
Most online chatter points at Credit Suisse, one of the world’s largest financial services providers.
CREDIT SUISSE: CFO: BANK IS AT CRITICAL MOMENT
— First Squawk (@FirstSquawk) October 2, 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.
ASX SMALL CAP LEADERS:
Here are the best performing ASX small cap stocks for September 24 to September 30:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| DUN | Dundasminerals | 0.64 | 205% | $25,565,468.94 |
| MGA | Metalsgrovemining | 0.195 | 63% | $7,920,110.00 |
| CGS | Cogstate Ltd | 2.17 | 48% | $383,144,011.51 |
| BXN | Bioxyne Ltd | 0.026 | 44% | $17,924,071.14 |
| ATL | Apollo Tourism | 0.725 | 41% | $134,959,408.30 |
| QXR | Qx Resources Limited | 0.047 | 38% | $41,249,391.41 |
| CFO | Cfoam Limited | 0.004 | 33% | $2,568,442.22 |
| GGX | Gas2Grid Limited | 0.002 | 33% | $8,116,204.16 |
| ROO | Roots Sustainable | 0.004 | 33% | $3,373,347.10 |
| GW1 | Greenwing Resources | 0.38 | 33% | $50,098,939.60 |
| WC1 | Westcobarmetals | 0.275 | 31% | $7,380,018.00 |
| ALA | Arovella Therapeutic | 0.034 | 31% | $20,796,375.05 |
| LGM | Legacy Minerals | 0.15 | 30% | $6,868,620.30 |
| ALY | Alchemy Resource Ltd | 0.027 | 29% | $19,061,519.10 |
| PSC | Prospect Res Ltd | 0.11 | 28% | $48,537,243.51 |
| SKN | Skin Elements Ltd | 0.034 | 26% | $14,729,727.04 |
| CBY | Canterbury Resources | 0.044 | 26% | $5,174,338.26 |
| FTC | Fintech Chain Ltd | 0.025 | 25% | $16,269,239.70 |
| HVM | Happy Valley | 0.05 | 25% | $9,776,359.12 |
| MGG | Mogul Games Grp Ltd | 0.0025 | 25% | $6,526,882.41 |
| RDN | Raiden Resources Ltd | 0.01 | 25% | $14,845,518.70 |
| TTM | Titan Minerals | 0.079 | 23% | $103,022,942.58 |
| SOM | SomnoMed Limited | 1.47 | 23% | $115,863,041.00 |
| GES | Genesis Resources | 0.011 | 22% | $8,611,254.23 |
| UUL | Ultima Utd Ltd | 0.08 | 21% | $6,304,447.06 |
| SIH | Sihayo Gold Limited | 0.003 | 20% | $12,204,256.18 |
| CAU | Cronos Australia | 0.715 | 19% | $404,690,613.19 |
| NUH | Nuheara Limited | 0.22 | 19% | $30,182,971.72 |
| BTR | Brightstar Resources | 0.019 | 19% | $12,937,217.38 |
| DTI | DTI Group Ltd | 0.019 | 19% | $7,625,374.04 |
| ICG | Inca Minerals Ltd | 0.041 | 17% | $19,757,684.30 |
| IRX | Inhalerx Limited | 0.069 | 17% | $11,624,220.03 |
| AJQ | Armour Energy Ltd | 0.007 | 17% | $13,550,705.26 |
| SGI | Stealth Global | 0.14 | 17% | $11,465,500.00 |
| TEG | Triangle Energy Ltd | 0.014 | 17% | $17,479,016.17 |
| HMI | Hiremii | 0.05 | 16% | $5,293,357.95 |
| MTO | Motorcycle Hldg | 2.5 | 16% | $148,713,171.10 |
| 3PL | 3P Learning Ltd | 1.4 | 16% | $362,194,262.70 |
| GO2 | Thego2People | 0.015 | 15% | $6,099,573.81 |
| HXL | Hexima | 0.015 | 15% | $2,396,081.27 |
| IBG | Ironbark Zinc Ltd | 0.015 | 15% | $17,645,882.71 |
| RFA | Rare Foods Australia | 0.068 | 15% | $14,051,994.60 |
| IKE | Ikegps Group Ltd | 0.77 | 15% | $103,657,776.95 |
| MXO | Motio Ltd | 0.039 | 15% | $10,046,484.12 |
| BUY | Bounty Oil & Gas NL | 0.008 | 14% | $10,964,007.86 |
| GTG | Genetic Technologies | 0.004 | 14% | $27,701,895.43 |
| PCL | Pancontinental Energ | 0.004 | 14% | $22,662,668.43 |
| RBR | RBR Group Ltd | 0.004 | 14% | $5,150,481.38 |
| LIN | Lindian Resources | 0.325 | 14% | $271,471,044.16 |
| S3N | Sensore Ltd | 0.46 | 14% | $11,081,480.52 |
Nickel, copper, cobalt and gold explorer Dundas Minerals (ASX:DUN) hit suprise massive sulphides and ultramafic rocks in water drilling at the Central Target in WA. A drill hole to test the 450m deep AMT anomaly has now commenced.
Metals Grove Mining (ASX:MGA) identified “significant lithium pegmatite potential” at the Upper Coondina project in the Pilbara.
Big news out of Nasdaq-listed Biogen (NASDAQ: BIIB) last week as the biotech said that its experimental Alzheimer’s drug with Japan-based partner Eisai showed promising results.
Biogen’s stock price surged 40% on the news, which also also led to a 36% rally in the price of Cogstate (ASX:CGS) on Wednesday before the company put itself on a trading halt at 10.30am.
While Cogstate is not part of the study, the company had entered into an agreement with Eisai in 2020 to grant Eisai rights to exclusively develop and distribute Cogstate’s digital cognitive assessment technologies in worldwide markets.
Such digital cognitive assessments will play an important role in supporting the types of large-scale cognitive assessment that will be necessary in the launch of disease modifying therapies such as Biogen’s lecanemab drug.
Lithium explorer QXR Resources (ASX:QXR) appointed new managing director, Steve Promnitz.
Steve was previously managing director of lithium project developer Lake Resources (ASX:LKE), which he took from a small cap nobody to $2.1bn market cap near-term miner.
ASX SMALL CAP LAGGARDS:
Here are the worst performing ASX small cap stocks for September 19 to September 23:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| 1CG | One Click Group Ltd | 0.017 | -58% | $10,078,585.78 |
| REY | REY Resources Ltd | 0.12 | -55% | $25,431,304.68 |
| AR1 | Australresources | 0.2 | -42% | $59,191,366.80 |
| MCM | Mc Mining Ltd | 0.41 | -42% | $88,944,691.50 |
| HTG | Harvest Tech Grp Ltd | 0.06 | -38% | $43,654,564.18 |
| AYM | Australia United Min | 0.004 | -33% | $7,370,309.94 |
| EVE | EVE Health Group Ltd | 0.001 | -33% | $5,274,482.66 |
| RAN | Range International | 0.006 | -33% | $6,575,032.24 |
| ACS | Accent Resources NL | 0.025 | -32% | $13,048,763.92 |
| CBE | Cobre | 0.1275 | -31% | $27,500,773.73 |
| BMG | BMG Resources Ltd | 0.02 | -31% | $7,719,833.16 |
| CYM | Cyprium Metals Ltd | 0.068 | -31% | $50,383,682.70 |
| ALM | Alma Metals Ltd | 0.0105 | -30% | $10,376,067.08 |
| ADR | Adherium Ltd | 0.005 | -29% | $12,809,249.33 |
| NYR | Nyrada Inc. | 0.1 | -29% | $20,281,131.00 |
| LNY | Laneway Res Ltd | 0.005 | -29% | $39,228,098.46 |
| LEL | Lithenergy | 0.71 | -28% | $43,909,500.00 |
| RAG | Ragnar Metals Ltd | 0.028 | -28% | $15,167,395.56 |
| GRE | Greentechmetals | 0.14 | -26% | $4,535,599.86 |
| AJL | AJ Lucas Group | 0.115 | -26% | $137,572,963.03 |
| NC1 | Nicoresourceslimited | 0.52 | -26% | $48,798,376.11 |
| AO1 | Assetowl Limited | 0.0015 | -25% | $2,358,194.64 |
| ARE | Argonaut Resources | 0.0015 | -25% | $8,142,806.91 |
| AUH | Austchina Holdings | 0.006 | -25% | $14,257,829.12 |
| BOA | Boadicea Resources | 0.105 | -25% | $8,546,988.45 |
| BPP | Babylon Pump & Power | 0.0045 | -25% | $12,288,856.72 |
| CBH | Coolabah Metals Limi | 0.105 | -25% | $4,044,000.12 |
| DW8 | DW8 Limited | 0.006 | -25% | $16,225,272.10 |
| KEY | KEY Petroleum | 0.0015 | -25% | $3,935,856.25 |
| MBK | Metal Bank Ltd | 0.003 | -25% | $9,127,363.56 |
| TD1 | Tali Digital Limited | 0.003 | -25% | $3,697,891.57 |
| OZM | Ozaurum Resources | 0.079 | -25% | $5,925,860.00 |
| UVA | Uvrelimited | 0.14 | -24% | $4,724,998.50 |
| SRX | Sierra Rutile | 0.2125 | -24% | $93,332,018.34 |
| CRR | Critical Resources | 0.063 | -24% | $93,744,960.06 |
| SRR | Saramaresourcesltd | 0.099 | -24% | $4,291,168.09 |
| NIM | Nimyresourceslimited | 0.275 | -24% | $15,453,055.24 |
| S66 | Star Combo | 0.18 | -23% | $24,314,936.58 |
| PUR | Pursuit Minerals | 0.0115 | -23% | $11,978,150.33 |
| BTC | BTC Health Ltd | 0.043 | -23% | $12,401,239.58 |
| 3DA | Amaero International | 0.1 | -23% | $22,773,030.31 |
| HPC | Thehydration | 0.1 | -23% | $18,701,261.80 |
| INP | Incentiapay Ltd | 0.01 | -23% | $12,650,636.25 |
| NCZ | New Century Resource | 1.055 | -23% | $146,709,598.56 |
| PO3 | Purifloh Ltd | 0.27 | -23% | $8,511,344.46 |
| TGN | Tungsten Min NL | 0.081 | -23% | $73,136,527.30 |
| NRX | Noronex Limited | 0.034 | -23% | $5,966,092.55 |
| W2V | Way2Vatltd | 0.031 | -23% | $6,046,702.60 |
| RFT | Rectifier Technolog | 0.031 | -23% | $42,622,022.36 |
| LNR | Lanthanein Resources | 0.038 | -22% | $37,550,197.23 |
