On Stockhead today, WoodMac’s call on the end of coal party, this metal super cycle has just begun, and are we all buying the dip yet?
But first, the day ahead.
Local shares are set to open lower on Wednesday. At 8am AEST, the ASX 200 October futures contract was pointing down by 0.60%.
TRADING HALTS
Auric Mining (ASX:AWJ) – capital raise
Riedel Resources (ASX:RIE) – capital raise
Yandal Resources (ASX:YRL) – capital raise
Boston Minerals (ASX:BMO) – capital raise
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1,629.39 (+0.48%)
Silver: $US18.39 (+0.20%)
Nickel (3mth): $US21,750/t (-2.05%)
Copper (3mth): $US7,291/t (-0.69%)
Lithium Carbonate, China (Benchmark Minerals Intelligence, Sept 14): $US71,500/t (+98.6% year-to-date)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, Sept 14): $US70,550/t (+135.6% year-to-date)
Oil (WTI): $US78.20 (+2.00%)
Oil (Brent): $US85.87 (+2.16%)
Iron 62pc Fe: $US98.71 (+0.30%)
AUD/USD: 0.6434 (-0.20%)
Bitcoin: $US18,981 (-0.64%)
WHAT GOT YOU TALKING YESTERDAY?
Lithium prices are continuing to climb and according to Fastmarkets senior price development manager, they will continue to do so because “so long as there is still an incentive to produce EVs at these price levels there is no real reason for them to fall until we see a meaningful supply response.”
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Also, be sure to check in pre-open 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 WINNERS
Swipe or scroll to reveal full table. Click headings to sort.
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MGA | Metalsgrovemining | 0.23 | 119% | 8,243,280 | $3,780,052.50 |
| ROO | Roots Sustainable | 0.005 | 67% | 3,725,854 | $2,248,898.06 |
| ARE | Argonaut Resources | 0.0015 | 50% | 4,000,000 | $5,428,537.94 |
| DUN | Dundasminerals | 0.61 | 44% | 3,652,614 | $16,462,612.58 |
| BTR | Brightstar Resources | 0.022 | 38% | 3,533,925 | $10,349,773.90 |
| GGX | Gas2Grid Limited | 0.002 | 33% | 1,000,000 | $6,087,153.12 |
| MGG | Mogul Games Grp Ltd | 0.002 | 33% | 6,866,524 | $4,895,161.81 |
| CMG | Criticalmineralgrp | 0.26 | 30% | 1,046,237 | $6,107,114.80 |
| NYM | Narryermetalslimited | 0.17 | 26% | 173,897 | $4,004,437.50 |
| AHN | Athena Resources | 0.01 | 25% | 3,495,100 | $6,503,740.46 |
| CLE | Cyclone Metals | 0.0025 | 25% | 2,934,775 | $12,233,473.96 |
| PNX | PNX Metals Limited | 0.005 | 25% | 2,642,002 | $17,776,231.23 |
| RAS | Ragusa Minerals Ltd | 0.395 | 23% | 17,578,949 | $41,166,101.76 |
| BXN | Bioxyne Ltd | 0.028 | 22% | 786,489 | $14,723,344.15 |
| CBY | Canterbury Resources | 0.042 | 20% | 285,060 | $4,311,948.55 |
| CUF | Cufe Ltd | 0.018 | 20% | 1,397,612 | $14,491,685.48 |
| DDT | DataDot Technology | 0.006 | 20% | 91,000 | $6,219,347.33 |
| YPB | YPB Group Ltd | 0.006 | 20% | 166,666 | $2,032,730.77 |
| TLG | Talga Group Ltd | 1.4 | 18% | 825,318 | $361,394,805.02 |
| UUL | Ultima Utd Ltd | 0.079 | 18% | 630,186 | $4,911,604.11 |
| WTL | Wt Financial Grp Ltd | 0.094 | 18% | 299,827 | $25,686,467.36 |
| PSC | Prospect Res Ltd | 0.095 | 17% | 2,158,961 | $37,443,016.42 |
| RTG | RTG Mining Inc. | 0.055 | 17% | 54,800 | $37,439,758.15 |
| ROG | Red Sky Energy. | 0.007 | 17% | 3,840,000 | $31,813,363.18 |
| SRZ | Stellar Resources | 0.014 | 17% | 459,210 | $11,582,371.51 |
Cygnus Gold (ASX:CY5) gained some 25% on Tuesday. The goldie-cum-lithium play reckons it’s just quadrupled the strike length out at its highly-prospective James Bay Lithium Province in Canada, to 40km.
CY5 says the rich new pickings have already returned samples grading 2.8% Li2O adjacent to Cygnus’ existing Pontax project.
There were more lithium leaks on Tuesday, Ragusa Minerals (ASX:RAS) saying it’s preparing to drill its NT lithium project for the first time next week with a set of fresh lithium targets already identified.
Also back in play is the troubled Argonaut Resources (ASX:ARE) which filed an appeal against a South Australian Supreme Court judgment which set aside October’s green light for exploration works at the Murdie Project.
YESTERDAY’S ASX SMALL CAP LOSERS
Swipe or scroll to reveal full table. Click headings to sort.
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| 1CG | One Click Group Ltd | 0.019 | -53% | 4,769,860 | $23,714,319.48 |
| AO1 | Assetowl Limited | 0.0015 | -25% | 398,332 | $3,144,259.52 |
| CFO | Cfoam Limited | 0.003 | -25% | 1,005 | $2,935,362.54 |
| LNU | Linius Tech Limited | 0.003 | -25% | 7,985,250 | $9,255,465.25 |
| RFR | Rafaella Resources | 0.03 | -21% | 1,628,260 | $10,671,306.26 |
| CLB | Candy Club | 0.048 | -20% | 63 | $22,047,957.66 |
| CT1 | Constellation Tech | 0.004 | -20% | 180,700 | $7,356,001.85 |
| WNR | Wingara Ag Ltd | 0.053 | -18% | 10,000 | $11,410,262.76 |
| M24 | Mamba Exploration | 0.12 | -17% | 30,000 | $6,115,375.44 |
| DEL | Delorean Corporation | 0.064 | -17% | 1,333,947 | $16,610,510.46 |
| FSG | Field Solu Hldgs Ltd | 0.1 | -17% | 5,136,782 | $91,648,992.60 |
| AQX | Alice Queen Ltd | 0.0025 | -17% | 450,000 | $6,461,083.37 |
| BPP | Babylon Pump & Power | 0.005 | -17% | 5,908,004 | $14,746,628.06 |
| INP | Incentiapay Ltd | 0.01 | -17% | 101,728 | $15,180,763.50 |
| OAR | OAR Resources Ltd | 0.005 | -17% | 2,612,210 | $13,026,227.39 |
| RNX | Renegade Exploration | 0.005 | -17% | 2,000,000 | $5,337,759.83 |
| DLT | Delta Drone Intl Ltd | 0.011 | -15% | 750,000 | $3,898,521.90 |
| W2V | Way2Vatltd | 0.034 | -15% | 92,072 | $7,113,767.76 |
| TMH | The Market Herald | 0.4 | -15% | 331,455 | $91,954,882.89 |
| GW1 | Greenwing Resources | 0.345 | -15% | 1,043,983 | $49,915,176.35 |
| SKO | Serko | 2.6 | -14% | 26,963 | $366,084,713.12 |
| GCR | Golden Cross | 0.012 | -14% | 1,427,659 | $15,361,585.54 |
| GTG | Genetic Technologies | 0.003 | -14% | 250,095 | $32,318,878.00 |
| LSR | Lodestar Minerals | 0.006 | -14% | 17,021,519 | $12,169,061.44 |
| TKL | Traka Resources | 0.006 | -14% | 815,238 | $4,821,421.93 |