Rise and Shine: What you need to know before the ASX opens
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Coming up on Stockhead today, why a nine-time Young Rich Lister joined the board of a $14m adtech, which directors bought into their own companies last week, and why you should spend your money on dollar stocks over pennies.
But first, here’s what you need to know right now:
There is no shortage of data this week, and most of it is coming today and tomorrow.
Today will see the Melbourne Institute releasing monthly and yearly inflation figures, the ANZ is dropping stats on job advertisements, while the Australian Bureau of Statistics is releasing data on quarterly pre-tax profits made by companies across the country and monthly and yearly building permits.
Tuesday will be all about the Reserve Bank of Australia, which is making a decision on interest rates — will they be kept stable at 1.5 per cent for the 28th consecutive month? Probably. Also coming is the ABS current account balance data, which features a heap of figures on interest, taxes, imports and exports.
Wednesday the ABS has the gross domestic product yearly and quarterly data, and follows it up on Thursday with further import and export data as well as retail sales.
Six companies are due out of trading today. Here’s the lowdown:
Just a few companies releasing shares from escrow this week – Proteomics International (ASX:PIQ) with 3.9 million out on Tuesday, Jaxsta (ASX:JXT) with 250k and Auctus Alternative (ASX:AVC) with 750k out Wednesday.
Gold: $US1293.32 -/+ 0%
Silver: $US15.20 -/+ 0%
Oil (Brent): $US65.07 -1.45%
Oil (WTI): $US55.80 -2.48%
Coal: $US96.50 +1.21%
Iron ore 62% fe: $US85.98 -1.55%
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Queensland gas takeovers got people talking on the Stockhead Facebook chat forum, which you can join here.
Senior journalist Rachel Williamson investigated why all the mooted takeovers didn’t happen.
Member Luke Burty wrote, referring to State Gas (ASX:GAS): “Waiting for GAS, it’s close. They are just waiting to close the legal loop to acquire the last 20% of the project from Dome who are broke and didnt fund any of the drilling campaign last year. Still lots of room to move north from here.”
These were the most-discussed stocks on stock gossip forum HotCopper at close on Friday:
— HotCopper (@HotCopper) March 1, 2019
Software company 9Spokes (ASX:9SP) led the way last week, with a Microsoft-inspired surge after it signed a deal with the global computing giant.
Coming off a low base of 1.2 cents, shares in 9SP more than doubled on Friday, hitting a high of 4.1 cents before closing at 2.9 — a gain of around 300 per cent.
The company announced it has been approved as a ‘One Commercial’ partner by Microsoft, which will also co-sell and co-market 9SP products to clients.
9SP’s software allows small businesses to aggregate multiple functions including payroll and accounting onto one platform.
Junior explorer Titan Minerals (ASX:TTM), posting a gain of 50 per cent to 3 cents a share after striking a potential deal to merge with Canadian miner Core Gold.
A key figure in the negotiations was Titan chairman Matt Carr, who previously plied his trade as a professional footballer with the Fremantle Dockers in AFL.
Carr told Stockhead the deal will give Titan access to Canada’s Dynasty goldfield, which looks like a “huge” gold system.
And it’s been a busy year at OpenDNA (ASX:OPN), an AI-based consumer marketing business that has added digital marketing and a Chinese e-commerce marketplace to its offering.
Shares in the company doubled to six cents this week after it announced two new deals it hopes will accelerate its expansion into the Chinese market.
|ASX code||Company||Market Cap||Price this Friday||Price last Friday||One-week change|
|9SP||9 SPOKES INTERNATIONAL LTD||5.94M||0.01||0.04||300%|
|ANW||AUS TIN MINING LTD||29.82M||0.01||0.02||100%|
|SIH||SIHAYO GOLD LTD||29.67M||0.01||0.02||100%|
|ATP||ATLAS PEARLS LTD||7.27M||0.01||0.02||100%|
|ALY||ALCHEMY RESOURCES LTD||7.05M||0.01||0.02||100%|
|CMD||CASSIUS MINING LTD||5.22M||0.01||0.02||100%|
|FRN||FRASER RANGE METALS GROUP LT||4.25M||0.01||0.02||100%|
|SCN||SCORPION MINERALS LTD||2.83M||0.01||0.02||100%|
|EGY||ENERGY TECHNOLOGIES LTD||20.62M||0.14||0.25||79%|
|PEC||PERPETUAL RESOURCES LTD||11.16M||0.03||0.05||66%|
|CCG||COMMSCHOICE GROUP LTD||10.77M||0.06||0.1||66%|
|TTM||TITAN MINERALS LTD||66.66M||0.02||0.03||50%|
|SUP||SUPERIOR LAKE RESOURCES LTD||21.42M||0.02||0.03||50%|
|MNW||MINT PAYMENTS LTD||20.42M||0.02||0.03||50%|
|RDG||RESOURCE DEVELOPMENT GROUP L||15.79M||0.02||0.03||50%|
|XPD||XPD SOCCER GEAR GROUP LTD||10.95M||0.02||0.03||50%|
|CXU||CAULDRON ENERGY LTD||8.23M||0.02||0.03||50%|
|HHM||HAMPTON HILL MINING NL||7.37M||0.02||0.03||50%|
|IPB||IPB PETROLEUM LTD||6.21M||0.02||0.03||50%|
|SIS||SIMBLE SOLUTIONS LTD||9.91M||0.07||0.1||43%|
Delivery management software company GetSwift (ASX: GSW) finished the week 41 per cent lower at 26 cents per share — an all-time low — after corporate regulator ASIC alleged the company misled investors.
GetSwift directors came out on the front foot and said they would “vigorously defend” the charges.
|Ticker||Name||Market cap||Price this Friday||Price last Friday||% change|
|TLM||TALISMAN MINING LTD||16.16M||0.23||0.09||-60%|
|SIL||SMILES INCLUSIVE LTD||16.80M||0.29||0.14||-51%|
|PIO||PIONEER RESOURCES LTD||22.56M||0.02||0.01||-50%|
|VRM||VERDANT MINERALS LTD||15.45M||0.02||0.01||-50%|
|CI1||CREDIT INTELLIGENCE LTD||11.49M||0.02||0.01||-50%|
|FHS||FREEHILL MINING LTD||9.88M||0.02||0.01||-50%|
|TSL||TITANIUM SANDS LTD||8.89M||0.02||0.01||-50%|
|KMT||KOPORE METALS LTD||8.14M||0.02||0.01||-50%|
|RDS||REDSTONE RESOURCES LTD||7.06M||0.02||0.01||-50%|
|DMG||DRAGON MOUNTAIN GOLD LTD||5.01M||0.02||0.01||-50%|
|IDZ||INDOOR SKYDIVING AUSTRALIA||1.91M||0.02||0.01||-50%|
|UNL||UNITED NETWORKS LTD||1.51M||0.02||0.01||-50%|
|GES||GENESIS RESOURCES LTD||3.13M||0.008||0.004||-50%|
|AMT||ALLEGRA ORTHOPAEDICS LTD||10.95M||0.2||0.11||-45%|
|TBH||BETMAKERS HOLDINGS LTD||7.84M||0.05||0.03||-40%|
That’s all you need to know. Go go go!