On Stockhead today, copper stocks primed for China’s return from Covid exile, Telstra the inflation beater, and is 150pc boomer Invictus just getting started?

But first, the day ahead.

 

TRADING HALTS

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

Resolute Mining (ASX:RSG) – Capital raise

Riversgold (ASX:RGL) – Capital raise

Dundas Minerals (ASX:DUN) – Capital raise

SECOS Group (ASX:SES) – expansion into a large Australian retailer.

Avenira (ASX:AEV) – clarification around an earlier release

 

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: $US1,707.87 (+0.05%)

Silver: $US21.088 (0.36%)

Nickel (3mth): $US24,012/t (+2.64%)

Copper (3mth): $US8,104.5/t (-0.14%)

Lithium Carbonate, China (Benchmark Minerals Intelligence, NOV 2): $US75,125/t (+2.7% weekly, +122% year-to-date)

Lithium Hydroxide, China (Benchmark Minerals Intelligence, NOV 2): $US74,575/t (+2.4% weekly, +164.2% year-to-date)

Oil (WTI): $US84.93 (-1.63%)

Oil (Brent): $US92.12 (-0.63%)

Iron 62pc Fe: $US91.50 (+0.55%)

AUD/USD: 0.6398 (-0.48%)

Bitcoin: $US16,273.00 (+3.67%)

 

WHAT GOT YOU TALKING YESTERDAY?

We can always hope.

And the FTX fallout continues.

 

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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:

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The biggest winner was Invictus Energy (ASX:IVZ) which revealed that drilling at the Mukuyu-1 well in Zimbabwe has been successful, with “elevated mud gas peaks (up to 65 times above background gas baseline observed while drilling through a depth of 3,070 mMD with marked increases from C1 to C5 compounds (methane, ethane, propane, butanes and pentanes)”.

Managing director Scott Macmillan says the early results are “an exciting development validating our subsurface model.”

“We still have several hundred metres of drilling through our primary targets with additional potential, which will be followed by a comprehensive wireline logging programme to evaluate results, with the aim of confirming the presence of moveable hydrocarbons in multiple zones,” he added.

Next off the mark was OD6 Metals (ASX:OD6) which says initial assay results from drilling at Splinter Rock in WA “represent some of the highest grades and thickest clay-hosted rare earth intersections seen in Australia.”

The assays contain large proportions of magnet rare earths, high value NdPr and heavy REEs, with four significant prospects being identified that are between four and seven kilometres in width and open in length.

“The scale of these clays is hard to comprehend when you start talking multiple kilometres in one direction at a thickness of between 10 to 30m,” MD Brett Hazelden said.

“The potential is massive.”

 

YESTERDAY’S ASX SMALL CAP LAGGARDS

Here are the least performing ASX small cap stocks:

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