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.

And James Whelan reminding everyone again that they need to eat to stay alive.

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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.

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.

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.