What you need to know before the market opens on 3rd November. Picture Getty
Rise and Shine: Everything you need to know before the ASX opens
News
share
Good morning everyone, and welcome to Friday, 3 November.
On Stockhead today…
There is little doubt that renewable energy holds the key to Australia’s push to achieve net zero, which goes a long way towards why the Australian Renewable Energy Agency (ARENA) has approved record funding towards projects aimed at accelerating the transition. But is this funding sufficient to drive greater adoption of renewables and energy storage? Bevis Yeo has more.
Are we nearing the bottom of this bear market for junior resources companies? Now it’s early November and judging by the October we just had… the question still begs. Rob Badman gives us the top 3 belters.
But first..
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$1,978.90 (-0.19%)
Silver: US$22.61 (-1.28%)
Nickel (3mth): US$18,489/t (+0.63%)
Copper (3mth): US$8,140.50/t (+0.51%)
Oil (WTI): US$80.92 (-0.10%)
Oil (Brent): US$85.24 (+0.27%)
Iron 62pc Fe: US$118.91/t (+0.18%)
AUD/USD: 0.6330 (-0.14%)
Bitcoin: US$34,388 (+0.21%)
WHAT GOT YOU TALKING
A little more than six months after joining the Quebec lithium party, Fin Resources (ASX: FIN) has identified another batch of spodumene crystals at its Cancet West project no more than 250m away from the previous discovery outcrop. The discovery was made by Fin’s in-country consultant Mercator Geological Services during recent follow-up field work.
Alvo Minerals (ASX:ALV) surged yesterday after testing proves that the Bluebush project in Brazil is a highly sought-after ionic adsorption clay-hosted rare earths deposit. Not all clay rare earths deposits are created equal. The best ones have a substantial ionic portion, which can be ostensibly easily, quickly, and cheaply leached out in a low/zero acid solution.
And this…
Rio Tinto-backed Sovereign Metals has commenced a pivotal bulk sampling program at its 1.8 billion tonne Kasiya project in Malawi to provide potential customers with product samples. https://t.co/fkgbKUyo7a #ad #ASX @sovereignmetals
— Stockhead (@StockheadAU) November 2, 2023
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 | % | Volume | Market Cap |
|---|---|---|---|---|---|
| WYX | Western Yilgarn NL | 0.12 | 50% | 459,638 | $3,972,600 |
| MTH | Mithril Resources | 0.0015 | 50% | 1,238,595 | $3,368,804 |
| RBR | RBR Group Ltd | 0.003 | 50% | 8,061,599 | $3,236,809 |
| VPR | Volt Power Group | 0.0015 | 50% | 75,870 | $10,716,208 |
| ZNC | Zenith Minerals Ltd | 0.12 | 46% | 662,355 | $28,895,232 |
| DCL | Domacom Limited | 0.02 | 43% | 561,796 | $6,097,025 |
| ME1 | Melodiol Glb Health | 0.004 | 33% | 16,174,458 | $11,487,311 |
| NOX | Noxopharm Limited | 0.13 | 30% | 1,994,119 | $29,223,795 |
| ALV | Alvomin | 0.23 | 28% | 918,203 | $16,763,457 |
| EXT | Excite Technology | 0.0075 | 25% | 1,876,329 | $7,255,450 |
| CHK | Cohiba Min Ltd | 0.0025 | 25% | 256,666 | $4,426,488 |
| EDE | Eden Inv Ltd | 0.0025 | 25% | 261,192 | $6,727,274 |
| FAU | First Au Ltd | 0.0025 | 25% | 1,033,333 | $2,903,987 |
| IS3 | I Synergy Group Ltd | 0.01 | 25% | 1,050,362 | $2,312,643 |
| HOR | Horseshoe Metals Ltd | 0.011 | 22% | 2,109,599 | $5,791,308 |
| QUE | Queste Communication | 0.029 | 21% | 19,879 | $649,736 |
| AU1 | The Agency Group Aus | 0.036 | 20% | 685,212 | $12,857,298 |
| K2F | K2Fly Ltd | 0.084 | 20% | 245,340 | $12,272,036 |
| IVX | Invion Ltd | 0.006 | 20% | 465,876 | $32,108,161 |
| NRX | Noronex Limited | 0.012 | 20% | 693,903 | $3,783,018 |
| RIE | Riedel Resources Ltd | 0.006 | 20% | 689,000 | $10,297,035 |
| FME | Future Metals NL | 0.037 | 19% | 20,123 | $12,809,325 |
| AW1 | Americanwestmetals | 0.125 | 19% | 1,582,818 | $38,933,793 |
| CGR | Cgnresourceslimited | 0.25 | 19% | 3,145,816 | $19,063,420 |
| LU7 | Lithium Universe Ltd | 0.044 | 19% | 5,732,032 | $14,375,310 |
Yesterday’s Small Caps highlights:
Ending the session at No.1 was the unlikely Zenith Minerals (ASX:ZNC), which had been climbing all day.
It can’t just be because non-executive director Andrew Bruton and executive chair David Ledger ‘sent a notification’ to say they were out and off to do something else. The market has taken this news extremely well. Up 22%.
The stock price of investments platform DomaCom (ASX:DCL) soared on Thursday on the back of a non-binding Memorandum of Understanding with Super Fierce – “Australia’s premier superannuation advice technology platform”.
The big sell of the alliance would seem to be that the DomaCom platform will introduce residential property investments for Aussie super members via Super Fierce’s technology.
Meanwhile, Noxopharm (ASX:NOX)just continues to surge after announcing in early October that the US FDA has has granted Orphan Drug Designation (ODD) status to Noxopharm’s CRO-67 preclinical drug candidate, for the treatment of pancreatic cancer.
The stock is up another 25% at lunchtime.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MGT | Magnetite Mines | 0.008 | -76% | 137,359 | $690,885 |
| CLE | Cyclone Metals | 0.001 | -33% | 2,981,860 | $15,396,757 |
| EMU | EMU NL | 0.001 | -33% | 220,000 | $2,501,282 |
| MXCDA | Mgc Pharmaceuticals | 0.49 | -30% | 24,477 | $3,121,718 |
| CCE | Carnegie Cln Energy | 0.0015 | -25% | 11,883 | $31,285,147 |
| HTG | Harvest Tech Grp Ltd | 0.021 | -25% | 3,495,664 | $19,780,973 |
| SEG | Sports Ent Grp Ltd | 0.18 | -22% | 2,105 | $60,055,766 |
| BNR | Bulletin Res Ltd | 0.1425 | -21% | 6,301,393 | $52,846,398 |
| 8IH | 8I Holdings Ltd | 0.016 | -20% | 162,032 | $7,147,120 |
| GTG | Genetic Technologies | 0.002 | -20% | 150,000 | $28,854,145 |
| SHO | Sportshero Ltd | 0.016 | -20% | 815,903 | $11,500,022 |
| SIS | Simble Solutions | 0.004 | -20% | 802,000 | $3,014,754 |
| XST | Xstate Resources | 0.013 | -19% | 801,900 | $5,144,306 |
| BRU | Buru Energy | 0.13 | -19% | 766,389 | $95,366,894 |
| GMN | Gold Mountain Ltd | 0.005 | -17% | 2,254,292 | $13,614,472 |
| MEM | Memphasys Ltd | 0.01 | -17% | 4 | $11,514,245 |
| MRQ | Mrg Metals Limited | 0.0025 | -17% | 1,500,000 | $6,617,756 |
| NHE | Nobleheliumlimited | 0.18 | -16% | 14,335,612 | $55,551,582 |
| SSR | SSR Mining Inc. | 18.3 | -15% | 474,181 | $478,216,415 |
| VR1 | Vection Technologies | 0.028 | -15% | 4,362,119 | $37,177,436 |
| BEX | Bikeexchange Ltd | 0.006 | -14% | 300,000 | $10,028,408 |
| BFC | Beston Global Ltd | 0.006 | -14% | 100,000 | $13,979,328 |
| KGL | KGL Resources Ltd | 0.12 | -14% | 177,855 | $79,420,861 |
| SGC | Sacgasco Ltd | 0.006 | -14% | 3,532,183 | $5,415,079 |
| SKN | Skin Elements Ltd | 0.006 | -14% | 569,769 | $3,986,403 |
TRADING HALTS
Bowen Coking Coal (ASX:BCB) – Pending an announcement by the Company concerning a capital raising.
Lithium Plus Minerals (ASX:LPM) – To assist the company in managing its continuous disclosure obligations as the company expects to make an announcement to the market regarding a share placement
Copper Search (ASX:CUS) – Capital raising and pending an announcement
Read MoreMarkets
