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Rise and Shine: What you need to know before the ASX opens
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Happy Tuesday Stockheads!
Coming up on Stockhead today, All the signs a smarter Perth is on the rise again, 90 Seconds with Talga Resources’ Mark Thompson, and what sound should an EV make?
But first, here’s what you need to know right now:
The day ahead in data
It’s a biggie. Today the Australian Bureau of Statistics gives us the official word on how much the Sydney and Melbourne housing markets have plummeted with the release of quarterly and yearly house price data. We might also get a hint of a coming rate cut buried in the minutes of the latest Reserve Bank of Australia meeting.
Company news
Apiam Animal Health (ASX:AHX) has 129,103 shares coming out of escrow today, while eCargo (ASX:ECG) has a whopping 113 million being released.
Only two companies are currently in trading halts and may resume trading today: Fenix Resources (FEX) with an update on its Iron Ridge project in WA and Blackham Resources (ASX:BLK) with an update on its funding arrangements.
Commodities
Gold: $US1304.96 ($1,838.23) +0.16%
Silver: $US15.30 +0.37%
Oil (Brent): $US67.39 +0.49%
Oil (WTI): $US58.90 +0.85%
Coal: $US91.25 -1.64%
Iron ore 62% fe: $US86.12 +0.16%
AUD/USD: 0.7099
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What got you talking yesterday
Rule changes on dual-listing on the New Zealand and Australian stock exchanges were the focus on the Stockhead Facebook chat forum.
New member Maxwell Percy proffered: “I agree with Mercer about to delist I can’t see it getting much better in the short term and that is from a kiwi. I find the ASX quite a different kettle of fish. Exciting and heaps of opportunities plus new listings etc.”
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Monday:
Close Top 5 #MostDiscussedStocks: $PLS $BIN $AVZ $RAP $EM1 #asx #ausbiz https://t.co/xOFzWmkzay
— HotCopper (@HotCopper) March 18, 2019
ResApp (ASX:RAP) was in the news due to the latest results from its coughing app trial.
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Yesterday’s winners
Kingsgate Consolidated (ASX:KCN) shareholders have waited many moons for this: the company’s insurers had agreed to cough up for its cancelled Thai mine.
Yesterday morning Kingsgate gave shareholders the good news – insurers had agreed to an $82m payout. Shares closed up 43 per cent to 22c.
IoT and smart spaces play Buddy (ASX: BUD) was also up 24 per cent to 8c after updating the market on its acquisition of smart lighting business LIFX.
engage:BDR (ASX:EN1) shares rose 82 per cent to 3.2c after reporting increased incremental revenue.
The company says it is worth about an extra $28,000 each day.
| ASX code | Company Name | Price | Percentage Change | Market Cap | Volume |
|---|---|---|---|---|---|
| VAR | Variscan Mines Ltd | 0.002 | 100% | $2,500,000 | 250.0k |
| EN1 | engage:BDR Ltd | 0.032 | 82% | $11,700,000 | 128.5M |
| NSE | New Standard Energy Ltd | 0.005 | 67% | $3,900,000 | 2.9M |
| FAU | First Au Ltd | 0.025 | 56% | $6,500,000 | 8.7M |
| GBP | Global Petroleum Ltd | 0.03 | 50% | $6,100,000 | 45.6k |
| EMP | Emperor Energy Ltd | 0.003 | 50% | $2,900,000 | 500.0k |
| KCN | Kingsgate Consolidated Ltd | 0.22 | 43% | $48,600,000 | 33.7M |
| EUR | European Lithium Ltd | 0.13 | 37% | $66,500,000 | 1.7M |
| CMC | China Magnesium Corp Ltd | 0.03 | 36% | $13,900,000 | 194.0k |
| SPX | Spectrum Metals Ltd | 0.014 | 27% | $14,700,000 | 68.2M |
| ICG | Inca Minerals Ltd | 0.005 | 25% | $15,100,000 | 399.0k |
| LRS | Latin Resources Ltd | 0.003 | 25% | $8,100,000 | 1.8M |
| QGL | Quantum Graphite Ltd | 0.003 | 25% | $18,900,000 | 368.6k |
| TBL | Tambla Ltd | 0.01 | 25% | $9,900,000 | 100.0k |
| BUD | Buddy Platform Ltd | 0.08 | 24% | $83,700,000 | 6.9M |
| IPB | IPB Petroleum Ltd | 0.04 | 21% | $8,000,000 | 1.1M |
| ANL | Amani Gold Ltd | 0.003 | 20% | $7,400,000 | 3.3M |
| LML | Lincoln Minerals Ltd | 0.006 | 20% | $3,400,000 | 300.0k |
| MLS | Metals Australia Ltd | 0.003 | 20% | $7,000,000 | 6.1M |
| MTH | Mithril Resources Ltd | 0.006 | 20% | $2,500,000 | 1.2M |
Yesterday’s losers
In January, Farm Pride Foods (ASX:FRM) said that finances were getting smashed by the national egg surplus, as well as ongoing drought conditions which affected feed prices.
It also said “these unfavourable conditions are expected to continue for some time”. Shares fell 23 per cent to 52c.
| ASX code | Company Name | Price | Percentage Change | Market Cap | Volume |
|---|---|---|---|---|---|
| GPP | Greenpower Energy Ltd | 0.002 | -33% | $3,100,000 | 635.0k |
| KKL | Kollakorn Corp Ltd | 0.007 | -30% | $1,500,000 | 2.6k |
| SFL | Spring FG Ltd | 0.03 | -27% | $5,800,000 | 16.0k |
| VAL | Valor Resources Ltd | 0.002 | -25% | $2,800,000 | 281.3k |
| T3D | 333D Ltd | 0.002 | -25% | $1,300,000 | 1.0M |
| MTB | Mount Burgess Mining NL | 0.003 | -25% | $1,400,000 | 18.0k |
| MRD | Mount Ridley Mines Ltd | 0.002 | -25% | $3,500,000 | 290.0k |
| KLH | Kalia Ltd | 0.003 | -25% | $7,500,000 | 782.8k |
| GGX | Gas2Grid Ltd | 0.003 | -25% | $3,500,000 | 80.0k |
| CYQ | Cycliq Group Ltd | 0.003 | -25% | $2,900,000 | 700.0k |
| BLY | Boart Longyear Ltd | 0.003 | -25% | $92,000,000 | 2.6M |
| NCR | NuCoal Resources Ltd | 0.022 | -24% | $16,900,000 | 1.7M |
| FRM | Farm Pride Foods Ltd | 0.52 | -23% | $30,300,000 | 258.7k |
| LNY | Laneway Resources Ltd | 0.005 | -23% | $22,100,000 | 14.8M |
| VEC | Vector Resources Ltd | 0.011 | -21% | $23,500,000 | 33.5M |
| RLC | Reedy Lagoon Corp Ltd | 0.004 | -20% | $1,600,000 | 137.6k |
| MNC | Metminco Ltd | 0.002 | -20% | $2,400,000 | 540.0k |
| KGM | KalNorth Gold Mines Ltd | 0.004 | -20% | $3,600,000 | 525.6k |
| EPM | Eclipse Uranium Ltd | 0.002 | -20% | $2,300,000 | 1.2M |
| DTR | Dateline Resources Ltd | 0.002 | -20% | $15,200,000 | 8.5M |
That’s all you need to know. Go go go!
