On Stockhead today, the coolest ASX tech you probably never knew existed, how to exit a day trading pickle, and a new PGM player born today.
But first, the day ahead.
WHO’S LISTING TODAY?
IPO: $19m at $0.50
The platinum group minerals (PGM) explorer and developer will acquire a 70% interest in private company Miracle Upon Miracle Investments on listing – which holds the Bengwenyama PGM project in South Africa.
That will make it one of a handful of pure play PGM companies on the ASX.
The project currently has a JORC 2012 Inferred Resource of 18.8 million oz (3 PGE + gold) and drilling is planned to kick off shortly after listing.
Bengwenyama is on the Eastern Limb of the Bushveld Complex, the largest source of platinum and palladium ore in the world.
South Africa is the only country that challenges Russia in its palladium output – a virtual supply duopoly that sees the countries combined produce around 80% of the world’s mined ounces.
The proportions of palladium and platinum at the project are relatively even at ~44% each, which CEO Johan Odendaal says gives the company optionality as conditions for palladium and platinum shift.
The metals are used largely in catalytic converters, devices in cars and bikes which moderate their emissions.
TRADING HALTS
Dateline Resources (ASX:DTR) – capital raising
Babylon Pump & Power Ltd (ASX: BPP) – capital raising
Lucapa Diamond Company (ASX: LOM) – regarding the approval of the VAT Amendment Bill in the Kingdom of Lesotho and its impact on the Mothae Diamond Mine
Rocketboots (ASX:ROC), – capital raising
MARKETS
Gold: $US1,852.59 (+0.14%)
Silver: $US22.271 (-1.65%)
Nickel (3mth): $US29,035/t (+3.26%)
Copper (3mth): $US9,742.50/t (+2.33%)
Lithium Carbonate, China (Benchmark Minerals Intelligence, June 1): $US69,450/t (0.1% weekly)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, June 1): $US70,875/t (0.0% weekly)
Oil (WTI): $US119.500 (+0.55%)
Oil (Brent): $US120.35 (+0.56%)
Iron 62pc Fe: $US143.00 (+2.20%)
AUD/USD: $US0.72147 (+0.12%)
Bitcoin: $US31,425.10 (+6.05%)
WHAT GOT YOU TALKING YESTERDAY?
It was all about the RBA’s surprising 50bp rate hike vs consensus of 25bp.
Also, Stockhead’s Jessica Cummins visited the Resources Rising Star’s conference on Queensland’s Gold Coast.
And you know something good’s going on when lots of companies commit to presenting at this top Australian conference.
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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.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| ROC | Rocketboots | 0.17 | 107% | 5,092,791 |
| ANL | Amani Gold Ltd | 0.0015 | 50% | 9,576,269 |
| LLO | Lion One Metals Ltd | 1.9 | 37% | 120,787 |
| DTR | Dateline Resources | 0.1475 | 34% | 2,583,557 |
| AFW | Applyflow Limited | 0.002 | 33% | 256,115 |
| CAV | Carnavale Resources | 0.01 | 25% | 31,757,897 |
| LNY | Laneway Res Ltd | 0.005 | 25% | 20,500 |
| R3D | R3D Resources Ltd | 0.13 | 24% | 391,971 |
| ROG | Red Sky Energy. | 0.006 | 20% | 1,221,524 |
| BAS | Bass Oil Ltd | 0.042 | 17% | 313,653 |
| 1AG | Alterra Limited | 0.014 | 17% | 664,291 |
| MGG | Mogul Games Grp Ltd | 0.0035 | 17% | 6,888,788 |
| BCT | Bluechiip Limited | 0.029 | 16% | 742,397 |
| DM1 | Desert Metals | 0.255 | 16% | 12,888 |
| PVE | Po Valley Energy Ltd | 0.051 | 16% | 1,038,751 |
| 99L | 99 Loyalty Ltd. | 0.03 | 15% | 213,000 |
| HTG | Harvest Tech Grp Ltd | 0.115 | 15% | 207,709 |
| LCT | Living Cell Tech. | 0.008 | 14% | 27,091,870 |
| NOR | Norwood Systems Ltd. | 0.016 | 14% | 434,638 |
| SFG | Seafarms Group Ltd | 0.016 | 14% | 2,930,000 |
| TML | Timah Resources Ltd | 0.072 | 14% | 20,000 |
| CNR | Cannon Resources | 0.4 | 14% | 2,368,299 |
| FFF | Forbidden Foods | 0.12 | 14% | 30,273 |
| JNO | Juno | 0.135 | 13% | 913,778 |
| ARO | Astro Resources NL | 0.0045 | 13% | 5,913,006 |
The drill program at Dateline Resources’ (ASX:DTR) appropriately named Colosseum Project has tickled the toes of a 100m, high-grade intercept of golden goodness.
The share price has gone heavenwards on Tuesday, before DTR lapsed into a trading halt of immense self-satisfaction, as the company goes back to market for some extra follow-up coin.
100.6m @ 4.16g/t Au from 79.24m in drill hole CM22-05 confirmed with final assay results including:
- 19.81 metres of 5.19g/t Au from 79.24 metres
- 3.05 metres of 13.78g/t Au from 80.77 metres
- 16.8 meters of 6.76 g/t Au from 112.78 meters
- 7.6 metres of 12.74 g/t Au from 132.59 metres
- 4.6 metres of 7.10g/t Au from 158.50 metres
As our own Gregor Stronach noted, Rocketboots (ASX:ROC) has at last made some movement more akin to its lofty moniker, jumping 100% following the announcement of the company’s hook-up with Nvidia. The company is now in a trading halt ahead of a further announcement.
YESTERDAY’S BIGGEST SMALL CAP LOSERS
(Stocks highlighted fell after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Last | % | Volume |
|---|---|---|---|---|
| EVE | EVE Health Group Ltd | 0.001 | -33% | 65,000 |
| WBE | Whitebark Energy | 0.002 | -31% | 181,814,252 |
| ICG | Inca Minerals Ltd | 0.1 | -23% | 2,518,593 |
| CTV | Colortv Limited | 0.007 | -22% | 651,465 |
| ICN | Icon Energy Limited | 0.02 | -20% | 739,635 |
| AHN | Athena Resources | 0.016 | -20% | 63,369,719 |
| AVW | Avira Resources Ltd | 0.004 | -20% | 2,007,239 |
| 1VG | Victory Goldfields | 0.125 | -19% | 93,830 |
| ATV | Activeportgroupltd | 0.097 | -19% | 463,562 |
| OLY | Olympio Metals Ltd | 0.13 | -19% | 175,996 |
| DRX | Diatreme Resources | 0.032 | -18% | 5,681,512 |
| VRC | Volt Resources Ltd | 0.019 | -17% | 25,356,378 |
| ILA | Island Pharma | 0.15 | -17% | 6,603 |
| TG6 | Tgmetalslimited | 0.15 | -17% | 178,750 |
| XST | Xstate Resources | 0.0025 | -17% | 1,338,010 |
| BVR | Bellavistaresources | 0.285 | -16% | 492,695 |
| VBS | Vectus Biosystems | 1.09 | -16% | 50,654 |
| S3N | Sensore Ltd | 0.5 | -16% | 193,432 |
| EXL | Elixinol Wellness | 0.032 | -16% | 2,918,514 |
| GME | GME Resources Ltd | 0.11 | -15% | 190,338 |
| SHO | Sportshero Ltd | 0.022 | -15% | 584,800 |
| ALM | Alma Metals Ltd | 0.017 | -15% | 135,202 |
| JXT | Jaxstaltd | 0.029 | -15% | 1,107,807 |
| HAV | Havilah Resources | 0.265 | -15% | 706,728 |
| ZIP | ZIP Co Ltd.. | 0.655 | -14% | 24,190,820 |
A late bolter into the definitely-not-the-winner’s circle was Victory Goldfields (ASX:1VG), which dropped 19.3% over the course of the day, accelerating as the afternoon wore on. The decline wiped out all of the gains Victory had made in the wake of a positive announcement on 25 May, about the completion of its drilling program at the North Stanmore project – despite assay results still on the ‘pending’ side of the ledger.