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Rise and Shine: Everything you need to know before the ASX opens
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On Stockhead today, goldies that get bang for their all-in buck, ASX graphite stocks get set for overdrive, and… ah it’s Cup Day.
But first, the day ahead.
The RBA meets ahead of the Melbourne Cup. CBA economists expect another 25% rate hike.
ANZ/Roy Morgan’s weekly consumer confidence survey released today will be the first chance for economists to gauge the reaction of Aussie households to the Federal Budget.
CoreLogic also issues the national home value index for October. CommSec expects house prices to fall ~1.2%.
TRADING HALTS
The following companies went into trading halts yesterday and are expected out in the next few days:
Australian Strategic Materials (ASX:ASM) – Capital raise
Jade Gas Holdings (ASX:JGH) – Capital raise
Todd River Resources (ASX:TRT) – Capital raise
Little Green Pharma (ASX:LGP) – Capital raise
Althea Group Holdings (ASX:AGH) – Capital raise
Amaero International (ASX:3DA) – Entitlement Offer
Sparc Technologies (ASX:SPN) – Capital raise
R3D Resources (ASX:R3D) – R3D’s got an announcement to make about a long term 100% offtake deal at its Copper Sulphate plant
MoneyMe (ASX:MME) – MME is taking time to pull together a response to a recent media report
Viridis Minerals and Mining (ASX:VMM) – VMM has an announcement regarding an update to an earlier ASX announcement
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1,641.60 (-0.01%)
Silver: $US19.08 (-0.75%)
Nickel (3mth): $US22,384/t (-1.26%)
Copper (3mth): $US7,764.5/t (-0.35%)
Lithium Carbonate, China (Benchmark Minerals Intelligence, OCT 19): $US72,875/t (+111.6% year-to-date)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, OCT 19): $US71,900/t (+151.9% year-to-date)
Oil (WTI): $US87.23 (-0.75%)
Oil (Brent): $US94.74 (-1.07%)
Iron 62pc Fe: $US84.00 (-5.62%)
AUD/USD: 0.6410 (-0.03%)
Bitcoin: $US20,554.00 (-0.54%)
WHAT GOT YOU TALKING YESTERDAY?
Cannon just scored a 45c per share takeover offer, which it likes. Which undervalued ASX nickel stocks could be next?
• Advanced nickel explorer $CNR receives $45m takeover offer
• Nickel, lithium explorer $SGQ now up 250% in 2 months
• $BMM continues Canadian lithium pivot with new acquisition #ASX
https://t.co/WYv4p62BUP— Stockhead (@StockheadAU) October 31, 2022
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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.
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 | COMPANY | PRICE | % TODAY | VOLUME | MARKET CAP |
|---|---|---|---|---|---|
| CBR | Carbon Revolution | 0.38 | 77% | 8,886,274 | $44,485,631 |
| MOB | Mobilicom Ltd | 0.014 | 56% | 2,352,185 | $11,981,517 |
| WYX | Western Yilgarn NL | 0.165 | 50% | 366,075 | $4,530,075 |
| MEB | Medibio Limited | 0.0015 | 50% | 1,179,744 | $3,320,594 |
| WA1 | Wa1Resourcesltd | 1.24 | 48% | 11,322,528 | $24,389,406 |
| CNR | Cannon Resources | 0.435 | 38% | 1,846,903 | $24,262,523 |
| MGG | Mogul Games Grp Ltd | 0.002 | 33% | 6,993,923 | $4,895,162 |
| NZS | New Zealand Coastal | 0.004 | 33% | 6,489,142 | $3,381,015 |
| TSC | Twenty Seven Co. Ltd | 0.002 | 33% | 19,730,828 | $7,982,442 |
| VOL | Victory Offices Ltd | 0.041 | 32% | 124,473 | $4,893,288 |
| NUH | Nuheara Limited | 0.215 | 30% | 1,621,289 | $22,637,229 |
| SOV | Sovereign Cloud Hldg | 0.15 | 25% | 195,550 | $14,715,315 |
| MTB | Mount Burgess Mining | 0.005 | 25% | 1,200,030 | $3,436,684 |
| ERW | Errawarra Resources | 0.21 | 24% | 24,534 | $9,278,916 |
| RXL | Rox Resources | 0.2025 | 23% | 17,989 | $27,875,256 |
| ECG | Ecargo Hldg | 0.018 | 20% | 71,428 | $9,228,750 |
| AQS | Aquis Ent Ltd | 0.15 | 20% | 7,151 | $4,464,897 |
| BPP | Babylon Pump & Power | 0.006 | 20% | 371,619 | $12,288,857 |
| NNG | Nexion Group | 0.11 | 20% | 95,425 | $7,440,133 |
| NTO | Nitro Software Ltd | 2.06 | 19% | 4,815,533 | $423,964,803 |
| SGQ | St George Min Ltd | 0.07 | 17% | 14,696,129 | $42,001,068 |
| IPT | Impact Minerals | 0.007 | 17% | 698,864 | $14,888,223 |
| TMX | Terrain Minerals | 0.007 | 17% | 3,000,000 | $4,564,566 |
| BNL | Blue Star Helium Ltd | 0.036 | 16% | 7,991,137 | $49,171,272 |
| SER | Strategic Energy | 0.0185 | 16% | 190,000 | $4,555,899 |
Carbon fibre wheel manufacturer Carbon Revolution (ASX:CBR) announced Q1 FY23 revenue of $10.4 million. That’s 66.2% revenue growth over the same period last year.
Nuheara (ASX:NUH) has received “historic” FDA clearance for its self-fitting, over-the-counter hearing aid.
Pre-revenue stocks Mobilicom (ASX:MOB), Linius Tech (ASX:LNU) and Mogul Games (ASX:MGG) all gained on quarterly updates.
In resources, recently listed Rox Resources (ASX:RXL) nickel spinout Cannon Resources (ASX:CNR) received a takeover offer from private equity fund, Kinterra Battery Metals Mining.
The 45c all-cash offer – which has support from major shareholders — is a 43% premium to CNR’s last closing price and 58% premium to 30-day VWAP.
And WA1 Resources (ASX:WA1) is up an incredible 780% in four sessions, from 14c to $1.24 per share.
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 | COMPANY | PRICE | % TODAY | Volume | MktCap |
|---|---|---|---|---|---|
| LER | Leaf Res Ltd | 0.014 | -46% | 11,512,274 | $30,058,154 |
| EML | EML Payments Ltd | 0.415 | -34% | 33,009,753 | $235,595,783 |
| ARE | Argonaut Resources | 0.001 | -33% | 651,268 | $8,142,807 |
| CLE | Cyclone Metals | 0.002 | -33% | 100,000 | $18,350,211 |
| KOB | Koba Resources | 0.175 | -33% | 3,905,449 | $16,900,000 |
| GO2 | Go2 People | 0.01 | -23% | 1,156,260 | $5,286,297 |
| RAG | Ragnar Metals Ltd | 0.017 | -23% | 4,200,916 | $8,342,068 |
| RXM | Rex Minerals Limited | 0.15 | -21% | 3,576,401 | $112,604,308 |
| AUK | Aumake Limited | 0.004 | -20% | 4,809,289 | $3,857,235 |
| KFE | Kogi Iron Ltd | 0.004 | -20% | 132,000 | $8,160,389 |
| MYE | Metarock Group Ltd | 0.19 | -19% | 744,186 | $30,783,249 |
| PWN | Parkway Corp Ltd | 0.007 | -18% | 10,247,416 | $18,812,884 |
| SKN | Skin Elements Ltd | 0.024 | -17% | 380,200 | $12,563,591 |
| OLY | Olympio Metals Ltd | 0.15 | -17% | 72,993 | $6,852,874 |
| EMU | EMU NL | 0.005 | -17% | 6,984,082 | $4,123,609 |
| GLV | Global Oil & Gas | 0.0025 | -17% | 10,013,161 | $5,620,064 |
| RR1 | Reach Resources Ltd | 0.005 | -17% | 4,078,684 | $11,460,304 |
| TD1 | Tali Digital Limited | 0.0025 | -17% | 187,637 | $3,697,892 |
| CNQ | Clean Teq Water | 0.38 | -16% | 376,691 | $20,323,109 |
| GML | Gateway Mining | 0.059 | -16% | 188,585 | $15,820,767 |
| MIO | Macarthur Minerals | 0.135 | -16% | 499,215 | $26,504,558 |
| BGE | Bridge SaaS | 0.11 | -15% | 58,895 | $3,774,681 |
| SHO | Sportshero Ltd | 0.018 | -14% | 429,848 | $11,965,682 |
| ARO | Astro Resources NL | 0.003 | -14% | 269,985 | $17,126,434 |
| M3M | M3 Mining | 0.12 | -14% | 1,684 | $4,885,829 |
Aussie renewable pine chemical company Leaf Resources (ASX:LEF) says construction of the Apple Tree Creek project plant will likely be deferred until Q1 next year due to shipping delays.
EML Payments (ASX:EML) will temporarily cease onboarding new customers, agents and distributors in relation to a UK subsidiary following concerns raised by the UK Regulator.
The financial impact on the EML Group is expected to reduce group revenue by less than $5 million in FY23, it says.
Koba Resources (ASX:KOB) has come out of a trading halt to clarify that its new “high quality” lithium project acquisition might not be so high quality after all.
“… the company has reviewed all the relevant reports associated with the 81 holes drilled within the project area during previous exploration for gold, copper, nickel, PGE’s, chrome, uranium and lithium, and that there are no material results from the 81 holes, other than the intersection of several pegmatites during exploration for uranium (that were not assayed for lithium), as noted in the announcement.”
READ: Onya KOB – ASX explorer stakes project next to Canada’s only lithium mine, jumps 136%
