Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, the hunt is on for the next big porphyry hit and these small caps are leading the charge, we take a look at whether IPO sales fees are a necessary evil or conflicted commission and why CSL is the poster child for most junior drug developers.
The week in economic data begins on a quiet note. On Tuesday the Reserve Bank will release the minutes of its February policy meeting, which will provide greater detail on its present thoughts on the state of our economy than its immediate after meeting release two weeks ago.
On Thursday, the Australian Bureau of Statistics will release jobs data including the headline unemployment rate.
Finally on Friday we’ll see the Commonwealth Bank’s Performance Manufacturing Index and Bloomberg’s monthly economic survey.
The following ASX companies are in trading halts and are expected to exit in the next two trading days:
Vulcan Energy Resources (ASX:VUL) – scoping study
MGC Pharmaceuticals (ASX:MGC) – capital raising
Collection House (ASX:CLH) – strategic review
Rumble Resources (ASX:RTR) – exploration results
ParaZero (ASX:PRZ) – acquisition
American Pacific Borate (ASX:ABR) – capital raising
Gold: $US1,584.32 ($2,356.87) (+0.52%)
Silver: $US17.69 (+0.12%)
Oil (WTI): $US52.05 (+1.23%)
Oil (Brent): $US57.32 (+1.74%)
Coal: $US70.93 (+0.33%)
Iron 62pc Fe: $US84.86 (-0.33%)
AUD/USD: $US0.6724 (+0.15%)
Bitcoin: $US9,758.01 (-1.36%)
The lithium market still has a long way to recover but last week, particularly Thursday, saw a number of explorers release good news. A couple of these were Liontown Resources (ASX:LTR) and Mali Lithium (ASX:MLL).
The best lithium development stories are still being rewarded by investors, even as prices plummet to multi year lows. $LTR $MLL $GLN $AVZ $VUL #ASX #ausbiz #ASX #batterymetals https://t.co/wXwve5Cxgi
— Stockhead (@StockheadAU) February 13, 2020
Also popular last week was news the WA government was taking steps to boost the biotech sector in the west and Reuben Adam’s chat with Sandfire Resources (ASX:SFR) boss Karl Simich. Simich recapped how Sandfire grew from a 4c penny stock into a ~$1bn mining company. Keep your eye out for another Zero to Hero later this week.
Meanwhile, in our Facebook Small and Microcap Chat Group a couple of health companies and their prospects caught group members’ interests including US-based Imricor Medical Systems (ASX:IMR) and Memphasys (ASX:MEM).
We also welcomed several new members. If you’re not already a member we’d love to have you join – which you can here.
These were the most tipped stocks (weekly) on Stocks in Play: