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Rise and Shine: Everything you need to know before the market opens
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On Stockhead today, Sandfire Resources boss Karl Simich on the copper legend’s next move, every IPO on the ASX in the next month, and Australian crypto traders are getting screwed.
But first, the day ahead.
WHO’S LISTING?
These stocks are set to debut on the ASX this week.
The gold, nickel-copper-PGE and kaolin explorer raised ~$5.5m at 20c per share. It is scheduled to list 24 January at 12pm AEDT.
The Alaska-based gold explorer raised ~$10m at 20c per share. It is scheduled to list on 25 January at 12:30am AEDT.
Gold and base metals explorer BRX raised ~$6m at 20c per share. It is scheduled to list 27 January at 1:30pm AEDT.
Cosmo Metals (ASX:CMO)
The WA nickel-copper-cobalt explorer raised ~$7m at 20c per share. It is scheduled to list 27 January at 12:30pm AEDT.
Firebrick Pharma (ASX:FRE)
FRE – which has developed a nasal spray medicine that targets the viral cause of the common cold — raised ~$7m at 20c per share. It is scheduled to list 28 January at 12:30pm AEDT.
TRADING HALTS
The following companies are in trading halts and are expected out in the next few trading days:
Carnaby Resources (ASX:CNB) — capital raising
Regis Resources (ASX:RRL) — geotechnical incident at Rosemont open pit
Sultan Resources (ASX:SLZ) — capital raising
DXN Ltd (ASX:DXN) – ASX price query
Alice Queen (ASX:AQX) – cap raise
BlackEarth Minerals (ASX:BEM) – cap raise
Arovella Therapeutics (ASX:ALA) – cap raise
Askari Metals Limited (ASX:AS2) – acquisition and cap raise
Argonaut Resources (ASX:ARE) – announcement on Zambian assets
Telix Pharmaceuticals (ASX:TLX) – cap raise
MARKETS (prices updated at 8.00am AEDT)
Gold: US$1841.63 ($2,579.30) (+0.46%)
Silver: US$23.92 (-1.30%)
Oil (WTI): US$83.78 (-1.59%)
Oil (Brent): US$86.79 (-1.25%)
Coal: US$225 (-0.44%)
Iron 62pc Fe: US$128.74 (-0.58%)
AUD/USD: 0.714 (-0.63%)
Bitcoin: US$36,900 ($51,680)
WHAT GOT YOU TALKING YESTERDAY?
Diversified resources explorer Viridis Mining and Minerals (ASX:VMM) got you talking.
It went off like a frog in a sock after listing on the ASX yesterday, raising $5m at $0.20 per share.
IPO Watch: @Viridis_VMM rockets 90pc on debut, preps for Canadian gold exploration – https://t.co/yOLy05G1Fg pic.twitter.com/rUWt1bLInR
— Stockhead (@StockheadAU) January 24, 2022
And nickel prices got your heads turning.
Nickel prices are on their best run in over a decade. Could supply shortages become the norm?: https://t.co/BgDQu53y85 pic.twitter.com/fy6tU1Egth
— Stockhead (@StockheadAU) January 24, 2022
To keep up to date with Stockhead coverage, follow our Twitter page or sign up to our members-only Facebook group here.
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 | Company | Price | % | Volume |
|---|---|---|---|---|
| VMM | Viridis Mining | 0.38 | 90% | 2,301,054 |
| ANW | Aus Tin Mining | 0.0015 | 50% | 45,433,629 |
| GGX | Gas2Grid Limited | 0.003 | 50% | 213,897 |
| IEC | Intra Energy Corp | 0.018 | 29% | 3,752,719 |
| MCM | Mc Mining Ltd | 0.099 | 27% | 1,675 |
| CCE | Carnegie Cln Energy | 0.0025 | 25% | 5,425,554 |
| YPB | YPB Group Ltd | 0.0025 | 25% | 7,970,385 |
| MHK | Metalhawk. | 0.335 | 22% | 965,414 |
| RXL | Rox Resources | 0.575 | 17% | 2,550,398 |
| GSR | Greenstone Resources | 0.034 | 17% | 6,345,366 |
| ASO | Aston Minerals Ltd | 0.175 | 17% | 12,637,394 |
| ARO | Astro Resources NL | 0.007 | 17% | 49,508,507 |
| MDX | Mindax Limited | 0.04 | 14% | 754,101 |
| IRX | Inhalerx Limited | 0.089 | 14% | 220,000 |
| MRD | Mount Ridley Mines | 0.0085 | 13% | 61,370,763 |
| CPM | Coopermetalslimited | 0.3 | 13% | 961,356 |
| AD1 | AD1 Holdings Limited | 0.026 | 13% | 130,043 |
| SMI | Santana Minerals Ltd | 0.305 | 13% | 223,528 |
| CYQ | Cycliq Group Ltd | 0.018 | 13% | 1,625,000 |
| TSC | Twenty Seven Co. Ltd | 0.0045 | 13% | 1,218,000 |
The sparkling debut for Viridis Mining (ASX:VMM) continued into the closing bell, as the stock almost doubled from its 20c listing price on day one.
VMM raised $5m in the IPO and has five projects in Australia and Canada: South Kitikmeot and Boddington West (gold), Bindoon (nickel, copper, PGEs) and Poochera and Smoky (kaolin-halloysite).
Greenstone (ASX:GSR) became a tiny gold producer two weeks ago, announcing its maiden pour of 840oz, worth $2.1 million. Not bad for a – at the time – $23m operation out of Coolgardie, WA. It took until today for its price to move up 17% though. It’s now in a trading halt at its own request pending what could be an interesting announcement, scheduled for release by or on Thursday.
Monday’s winner’s list was almost entirely populated by resources stocks, and another winner was Metalhawk (ASX:MHK), which announced that aircore drilling has resumed at its Berehaven nickel project in the WA goldfields.
MHK added that reverse-circulation drilling has also commenced at Commodore South project, where the company announced a high-grade nickel sulphide discover in late-September.
Two weeks prior to that September 28 announced, MHK shares soared from ~20c to more than 70c before falling back towards 20c through to the end of the year.
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 |
|---|---|---|---|---|
| ARE | Argonaut Resources | 0.003 | -50% | 331,021,055 |
| CGB | Cann Global Limited | 0.002 | -33% | 1,989,780 |
| NES | Nelson Resources. | 0.026 | -32% | 4,045,525 |
| BAS | Bass Oil Ltd | 0.0015 | -25% | 2,608,452 |
| PAB | Patrys Limited | 0.028 | -24% | 40,359,096 |
| AHN | Athena Resources | 0.011 | -21% | 1,107,142 |
| COY | Coppermoly Limited | 0.011 | -21% | 139,166 |
| ADH | Adairs Limited | 3.01 | -21% | 8,970,843 |
| VMG | VDM Group Limited | 0.002 | -20% | 2,539,643 |
| JAT | Jatcorp Limited | 0.017 | -19% | 21,375,359 |
| BIR | BIR Financial Ltd | 0.029 | -17% | 2,847,052 |
| GTG | Genetic Technologies | 0.005 | -17% | 16,455,231 |
| PCL | Pancontinental Energ | 0.0025 | -17% | 5,365,363 |
| SBR | Sabre Resources | 0.005 | -17% | 17,020,494 |
| SIT | Site Group Int Ltd | 0.005 | -17% | 1,008,852 |
| SIX | Sprintex Ltd | 0.057 | -16% | 254,814 |
| AUQ | Alara Resources Ltd | 0.026 | -16% | 2,501,333 |
| CAE | Cannindah Resources | 0.26 | -16% | 1,821,044 |
| SPN | Sparc Tech Ltd | 1.63 | -16% | 815,813 |
| MSI | Multistack Internat. | 0.032 | -16% | 59,411 |
| NWE | Norwest Energy NL | 0.027 | -16% | 40,775,547 |
| MGU | Magnum Mining & Exp | 0.084 | -15% | 7,789,787 |
| ESS | Essential Metals Ltd | 0.44 | -15% | 7,786,081 |
| EMT | Emetals Limited | 0.018 | -14% | 1,488,958 |
| ADY | Admiralty Resources. | 0.012 | -14% | 757,712 |
It was a rough Monday for Argonaut Resources (ASX:ARE), which got some bad news out of Zambia when its lawyers said the licence for its Lumwana West copper-cobalt project wouldn’t be renewed.
Not only that, but “a new licence over the Lumwana West area was hurriedly and potentially corruptly granted to a recently registered company with no apparent financial or technical capacity”.
Argonaut plans to appeal the ruling but in the meantime, its share price fell by 50% to 0.3c.
