On Stockhead today, ASX stocks getting in on the rise of LFP batteries, FMG dips toe into lithium IPO, and can Qantas profits lift other ASX airlines?

But first, The day ahead.

Local shares are set to open higher today. At 8am AEST, the ASX 200 October futures contract is pointing up by 1.5%.

TRADING HALTS

The following companies went into trading halts yesterday and are expected out in the next few days:

Radiopharm Theranostics (ASX:RAD) – the release of Pivalate Phase II Data in Brain Mets Trial

Aldoro Resources (ASX:ARN) – capital raise

Pacific Nickel Mines (ASX:PNM) – capital raise

Zoom2u Technologies (ASX:Z2U) – capital raise and potential acquisition

Astron Corporation (ASX:ATR) – capital raise

Wooboard Technologies (ASX:WOO) – capital raise

Medibank Private Limited (ASX:MPL) – cyber breach

 

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: $US1,665.15 (-0.43%)

Silver: $US18.85 (-1.08%)

Nickel (3mth): $US22,340/t (+0.22%)

Copper (3mth): $US7,641/t (+1.27%)

Lithium Carbonate, China (Benchmark Minerals Intelligence, OCT 12): $US72,200/t (+108.2% year-to-date)

Lithium Hydroxide, China (Benchmark Minerals Intelligence, OCT 12): $US71,850/t (+146.9% year-to-date)

Oil (WTI): $US89.10 (+2.10%)

Oil (Brent): $US94.58 (+2.31%)

Iron 62pc Fe: $US95.40 (-0.76%)

AUD/USD: 0.6297 (+0.5%)

Bitcoin: $US19,402 (+1.2%)

 

WHAT GOT YOU TALKING YESTERDAY?

Lithium stocks were hammered yesterday after lithium perma-bear Morgan Stanley put out a report indicating that prices and export volumes were falling out of Chile, one of the biggest lithium producers in the world.

It’s Groundhog Day – remember when Goldman Sachs did the same thing? — and experts aren’t buying it.

 

“It doesn’t take a genius to make a call that lithium prices will eventually come down,” says Benchmark Mineral Intelligence boss Simon Moores.

“Lithium is one the longest price rallies in any ‘commodity’ in recent memory.

“But there is always a scramble at the banks to be the first to call it. Which misleads the market as to what’s really happening.

“Using bad data / trade data can do this. It’s why regulated price reporting agencies (PRA) like [Benchmark] have business.”

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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:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume Market Cap
CCE Carnegie Cln Energy 0.0015 50% 6,165,360 $15,102,574
JAV Javelin Minerals Ltd 0.0015 50% 1,337,644 $9,454,153
MEB Medibio Limited 0.0015 50% 693,980 $3,320,594
SGQ St George Min Ltd 0.059 48% 94,399,959 $28,000,712
CAD Caeneus Minerals 0.004 33% 550,752 $16,036,815
OLL Openlearning 0.036 29% 2,492,243 $6,002,763
MRL Mayur Resources Ltd 0.13 24% 208,199 $25,403,439
SHO Sportshero Ltd 0.026 24% 2,798,298 $11,965,682
AHQ Allegiance Coal Ltd 0.067 22% 2,637,732 $23,090,108
GME GME Resources Ltd 0.14 22% 1,082,423 $69,046,117
RB6 Rubixresources 0.14 22% 110,678 $3,110,750
AUK Aumake Limited 0.006 20% 1,731,792 $3,857,235
RMX Red Mount Min Ltd 0.006 20% 210,000 $8,211,819
YPB YPB Group Ltd 0.006 20% 793,576 $2,032,731
TKM Trek Metals Ltd 0.064 19% 726,160 $16,772,948
REC Rechargemetals 0.17 17% 49,870 $5,770,275
DCN Dacian Gold Ltd 0.1225 17% 4,945,301 $127,764,098
E33 East 33 Limited. 0.035 17% 28,580 $8,278,845
MEI Meteoric Resources 0.014 17% 370,773 $18,315,568
RNX Renegade Exploration 0.007 17% 1,245,151 $5,350,103
CYC Cyclopharm Limited 1.51 17% 38,364 $120,504,705
DRE Dreadnought Resources Ltd 0.1 16% 39,055,655 $261,657,885
GCX GCX Metals Limited 0.045 15% 261,802 $7,245,369
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Business SaaS stock Elmo Software (ASX:ELO) says various parties have expressed interest in acquiring the company, including US tech-focused private equity firm Accel-KKR.

No agreement has been reached, but ELO is in discussions with selected parties “in the context of maximising shareholder value”.

$5m capped recruitment/labour hire co Hiremii (ASX:HMI) somehow received a boost after MD/CEO Andrew Hornby bought $635 worth of shares on market.

Explorer Carnaby Resources (ASX:CNB)  pulled up a “phenomenal” 60m at 3.1% copper at the Greater Duchess project.

Lithium minnow Riversgold (ASX:RGL) received a handy $521,000 R&D tax incentive refund and secured a contractor to drill a maiden campaign at the Tambourah project in the Pilbara.

 

ASX SMALL CAP LAGGARDS

Here are the best performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume Market Cap
DUN Dundas Minerals 0.53 -38% 5,234,315 $33,040,625
VIP VIP Gloves 0.006 -33% 921,078 $7,081,033
ARE Argonaut Resources 0.001 -33% 2,094,192 $8,142,807
MEB Medibio Limited 0.001 -33% 1,156,360 $4,980,891
VOL Victory Offices Ltd 0.026 -28% 3,737,001 $5,682,529
1CG One Click Group Ltd 0.012 -25% 2,149,147 $9,485,728
SHH Shree Minerals Ltd 0.009 -25% 19,747,462 $14,861,843
HT8 Harris Technology Gl 0.015 -21% 4,719,039 $5,667,614
VTI Vision Tech Inc 0.2 -20% 68,086 $6,150,374
AHQ Allegiance Coal Ltd 0.054 -19% 8,330,227 $28,127,949
ARV Artemis Resources 0.042 -19% 3,631,466 $72,353,755
ATV Active Port Group 0.061 -19% 449,511 $11,732,203
SIX Sprintex Ltd 0.028 -18% 347,089 $8,648,047
ROG Red Sky Energy 0.005 -17% 1,431,390 $31,813,363
SI6 SI6 Metals Limited 0.005 -17% 500,000 $8,929,134
W2V Way2Vatltd 0.026 -16% 365,262 $5,513,170
REM Remsense Technologies 0.16 -16% 149,850 $6,250,824
SMN Structural Monitor 0.375 -15% 380,773 $59,039,035
ROC Rocketboots 0.094 -15% 128,029 $3,492,500
JTL Jayex Technology Ltd 0.006 -14% 56,717 $1,744,600
KTG K-Tig Limited 0.12 -14% 38,535 $25,355,577
MBX My Foodie Box 0.06 -14% 70,074 $2,345,000
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Dundas Minerals (ASX:DUN) says the surprise silver and copper found in two shallow holes has come back from the lab lower than initial pXRF readings, while nickel readings were actually elevated.

“For Cu and Ag, anomalous laboratory assay results were returned at the same 1m intervals as elevated pXRF readings, however the ppm values reported from laboratory assay were below the pXRF readings,” the company says.

“This was not the case with respect to Ni, where laboratory assay results were in all cases higher than pXRF results, in several cases between 2 and 3 times higher.”

Dun says it will not quote numerical pXRF reading results in its public announcements in future “until it has a higher degree of confidence that for any pXRF reading announced, there is likely to be a strong correlation between the pXRF reading value and the future laboratory assay result”.

Shree Minerals (ASX:SHH), which has tenements nearby, also fell on the news.

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