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Rise and Shine: Everything you need to know before the market opens
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On Stockhead today, Budget 2022: What’s in store for the resources sector, the ASX tech stocks making big leaps in sport and a nickel junior’s mission to find the next Nova.
But first, the day ahead.
TRADING HALTS
The following companies are in trading halts, and are expected out in the next few days:
Chesser Resources (ASX:CHZ) – Capital raising
Jatcorp (ASX:JAT) – Capital raising
Great Boulder Resources (ASX:GBR) – Capital Raising
Macarthur Minerals (ASX:MIO) – Capital raising
PolarX (ASX:PXX) – Capital raising
New Zealand Coastal Seafoods (ASX:NZS) – Capital raising
Conico (ASX:CNJ) – Capital raising
Bill Identity (ASX:BID) – Capital raising
MARKETS (updated at 8am AEDT)
Gold: $US1,919.35 (-0.20%)
Silver: $US24.89 (-0.25%)
Oil (WTI): $US106.20 (+0.23%)
Oil (Brent): $US112.17(-0.28%)
Aust Coking Coal (steelmaking): $594.70/t (-0.1%)
Newcastle Coal (thermal): $258/t (-1.15%)
Iron 62pc Fe: $US150.14 (0.00%)
AUD/USD: $US0.7520 (+0.20%)
Bitcoin: $US47,342 (-0.27%)
WHAT GOT YOU TALKING
Discoveries. Two of ’em. Big ones. In two days.
• Recharge Metals drills into 300m of copper mineralisation
• Phosphate stock PhosCo gets “excellent” results from met tests
• Odessa (diamonds), Cullen (nickel, copper) and Solis (copper) up on no news#ASX $REC $PHO $ODE $CUL $SLM
https://t.co/MedDG323rS— Stockhead (@StockheadAU) March 29, 2022
And James Whelan reminding everyone again that they need to eat to stay alive.
The latest Free Whelan’: @jameswhelan42 weighs in with investment strategies for a global food crisis, climbing the ‘wall of worry’, and what central banks usually have to do when inflation stays above 5%…https://t.co/CS6VHI1lup
— Stockhead (@StockheadAU) March 28, 2022
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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 at 10.20am each day for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.
YESTERDAY’S BIGGEST SMALL CAP WINNERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Description | Price | % | Volume |
|---|---|---|---|---|
| REC | Recharge Metals | 0.44 | 238.5% | 36,325,440 |
| ERG | Eneco Refresh Ltd | 0.044 | 57.1% | 150,000 |
| ALT | Analytica Limited | 0.0015 | 50.0% | 31,500 |
| AQC | Auspaccoal Ltd | 0.23 | 35.3% | 52,298 |
| HHI | Health House Int Ltd | 0.032 | 33.3% | 519,900 |
| HIO | Hawsons Iron Ltd | 0.26 | 33.3% | 17,239,091 |
| CCE | Carnegie Cln Energy | 0.0025 | 25.0% | 63,988 |
| PTR | Petratherm Ltd | 0.046 | 24.3% | 906,627 |
| CXM | Centrex Limited | 0.185 | 23.3% | 6,114,325 |
| CUL | Cullen Resources | 0.016 | 23.1% | 3,649,816 |
| CPH | Creso Pharma Ltd | 0.073 | 21.7% | 30,132,640 |
| AAP | Australian Agri Ltd | 0.023 | 21.1% | 118,912 |
| OEC | Orbital Corp Limited | 0.375 | 21.0% | 266,952 |
| SIT | Site Group Int Ltd | 0.006 | 20.0% | 1,161,225 |
| TG1 | Techgen Metals Ltd | 0.13 | 18.2% | 60,752 |
| HCD | Hydrocarbon Dynamic | 0.013 | 18.2% | 272,455 |
| WWG | Wisewaygroupltd | 0.23 | 17.9% | 57,781 |
| HFY | Hubify Ltd | 0.053 | 17.8% | 192,055 |
| NEA | Nearmap Ltd | 1.505 | 16.2% | 6,906,674 |
| SGC | Sacgasco Ltd | 0.029 | 16.0% | 1,859,420 |
| GW1 | Greenwing Resources | 0.38 | 15.2% | 526,065 |
| LKE | Lake Resources | 1.93 | 14.9% | 32,869,113 |
| FIN | FIN Resources Ltd | 0.032 | 14.3% | 941,272 |
| TSC | Twenty Seven Co. Ltd | 0.004 | 14.3% | 3,123,000 |
| XTC | Xantippe Res Ltd | 0.008 | 14.3% | 12,774,573 |
It’s been a historic start to the week for small cap copper explorers, with two major hits flagged in WA that sent their share prices of their respective announcers in a parabolic upward trajectory.
Yesterday it was Recharge Metals’ (ASX:REC) turn, as the company’s drill program uncovered about 300m of copper mineralisation that remains open at end-of hole at its ‘Brandy Hill South’ project in WA.
It gained around~240% surge following a similar move earlier this week for Tempest Minerals (ASX:TEM), which announced a major copper strike of its own on Monday.
Orbital Corp (ASX:OEC) shares went off like a rocket. This, after news emerged it played host to Australia’s Minister for Defence, Peter Dutton, at its Perth headquarters last week.
The purpose of the visit was to give Dutton a feel for Orbital’s Balcatta facility, where it will manufacture the propulsion systems “responsible for powering the Australian Army’s next generation of Tactical Uncrewed Aerial Systems (‘UAS’)”, Orbital said.
For Orbital chairman John Welborn, it represented an opportunity “to showcase the advanced technology and aerospace manufacturing expertise that will support the delivery of a critical capability to the Australian Army”.
It wasn’t a near thing for Nearmap (ASX:NEA) on Tuesday – shares in the aerial imagery firm jumped over up 15%, following a trading update reaffirming FY22 upper end of the $150m-$160m guidance range.
The news follows Nearmap’s annual contract value (ACV) topping $150m for the first time.
And shares in Telix Pharmaceuticals (ASX:TLX) rose more than 7% yesterday to $4.46 after the company announced the US Food and Drug Administration (FDA) had granted Orphan Drug Designation (ODD) for its TLX66 for conditioning treatment before hematopoietic stem cell transplant (HSCT).
Telix said the granting of ODD for TLX66 qualifies the company for various drug development incentives, including FDA administered market exclusivity for seven years, waived FDA prescription drug user fees and tax credits for R&D.
YESTERDAY’S BIGGEST SMALL CAP LOSERS
(Stocks highlighted in yellow fell after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| ANW | Aus Tin Mining | 0.001 | -33.3% | 3,516,202 |
| BAS | Bass Oil Ltd | 0.002 | -20.0% | 837,145 |
| SBR | Sabre Resources | 0.005 | -16.7% | 1,379,166 |
| MBX | Myfoodieboxlimited | 0.16 | -15.8% | 377 |
| SLB | Stelarmetalslimited | 0.235 | -14.5% | 1,483,151 |
| PYR | Payright Limited | 0.12 | -14.3% | 44,450 |
| HPC | Thehydration | 0.255 | -13.6% | 134,703 |
| MPP | Metro Perf.Glass Ltd | 0.33 | -13.2% | 4,000 |
| AKM | Aspire Mining Ltd | 0.083 | -12.6% | 404,267 |
| FFT | Future First Tech | 0.028 | -12.5% | 243,667 |
| TMX | Terrain Minerals | 0.007 | -12.5% | 200,000 |
| CBY | Canterbury Resources | 0.07 | -12.5% | 883,285 |
| MAY | Melbana Energy Ltd | 0.1275 | -12.1% | 121,591,354 |
| BDX | Bcaldiagnostics | 0.11 | -12.0% | 120,837 |
| TIE | Tietto Minerals | 0.515 | -12.0% | 8,999,393 |
| AON | Apollo Minerals Ltd | 0.075 | -11.8% | 934,506 |
| TMS | Tennant Minerals Ltd | 0.04 | -11.1% | 3,998,888 |
| ADY | Admiralty Resources. | 0.016 | -11.1% | 1,197,864 |
| BLU | Blue Energy Limited | 0.081 | -11.0% | 4,871,822 |
| GTR | Gti Resources | 0.025 | -10.7% | 42,417,343 |
| ENA | Ensurance Ltd | 0.255 | -10.5% | 115,879 |
| ACU | Acumentis Group Ltd | 0.13 | -10.3% | 259,460 |
| AMD | Arrow Minerals | 0.0045 | -10.0% | 100,000 |
| DXN | DXN Limited | 0.009 | -10.0% | 700,316 |
| ESH | Esports Mogul Ltd | 0.0045 | -10.0% | 1,772,542 |
Tietto Minerals (ASX:TIE) is doing it rough after receiving binding commitments for a two-tranche $130m placement. Shares in the West African gold explorer and developer were about 13% lower near 3.30pm.
With a $370mn market cap, Tietto will deploy the $130mn to accelerate its Abujar Gold Project in Côte d’Ivoire.
Tietto says it will issue some 260 million fully paid ordinary shares at $0.50 a pop.
Carnarvon Energy (ASX:CVN) says it’s nailed the $70 million fully underwritten institutional placement, securing 234 million new shares at an offer price of 30¢ per share. The new shares are expected to settle on April 4.
CEO Adrian Cook is chuffed:
“The proceeds will be used to bring the Dorado liquids development to a final investment decision in 2022 and to test the tie-in potential close to the Dorado development, which includes the upcoming Apus-1 well and recent Pavo-1 oil discovery.”
The share price has suffered a bit, drifting about 5% lower.
