Rise and Shine: What you need to know before the ASX opens
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But first, here’s what you need to know right now:
It’s a pretty low-key week in terms of economic data. Two speeches coming from the Reserve Bank of Australia in the early parts, with assistant governor Luci Ellis delivering one on Monday and fellow assistant governor Christopher Kent delivering another on Wednesday.
ANZ Roy Morgan weekly consumer confidence figures are out on Tuesday.
The Australian Bureau of Statistics is onto labour force and job vacancies on Thursday, while RBA data on private sector credit is due Friday.
A big stack of companies have shares coming out of escrow this week, and you can get the lowdown on those here. We’ll continue to update you each day on which companies specifically. Today there are three companies: CommsChoice (ASX:CCG), Integral Diagnostics (ASX:IDX) and Sheffield Resources (ASX:SFX).
There are seven companies currently in a trading halt that may release their news in the next two days. Well, six companies in a trading halt and one, Orinoco Gold (ASX:OGX), in a “tading halt” — there was a typo in the announcement’s upload to the ASX platform.
Orinoco, Data Exchange Network (ASX:DXN), Vivid Technology (ASX:VIV) and Prescient Therapeutics (ASX:PTX) all have news of a capital raise, SportsHero (ASX:SHO) is entering into a strategic partnership, Dacian Gold (ASX:DCN) has a production update and Petsec Energy (ASX:PSA) is dropping drilling results.
Gold: $USD1,313.13 +0.30%
Silver: $USD15.41 -0.32%
Oil (Brent): $USD67.03 -1.22%
Oil (WTI): $USD59.04 -1.57%
Coal: $USD88.22 -0.63%
Iron ore 62% fe: $USD85.89 +0.28%
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Beer, beer and more beer on the Stockhead Facebook chat forum. Whether that was Friday end-of-week beers, or beer that tastes like actual p..s, in a Weed Week article from senior journalist Rachel Williamson.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Friday:
— HotCopper (@HotCopper) March 22, 2019
It’s no surprise Emerge Gaming (ASX:EM1) was one of the most-talked-about stocks. It told investors about gaining access to 350 million mobile gamers worldwide in a new partnership with fellow gaming stock iCandy (ASX:ICI).
There were 1,203 posts on Emerge’s page on HotCopper this week alone, under extremely speculative and exceedingly hopeful thread titles such as “Telstra are getting ready..”, “350 Million Gamers – HUGE”, “Let the frenzy begin” and “10 Cent on the horizon”.
Weed hopeful CropLogic (ASX:CLI) has received a licence to cultivate industrial hemp in the US state of Oregon, which pushed shares up 123 per cent to 2.9c.
The company has been pouring considerable resources into assessing the US hemp market as it seeks to diversify its offering.
A new high-grade gold discovery at its Penny West project in WA for Spectrum Metals (ASX:SPX) sent the miner’s share price up 118 per cent this week, to 2.4c.
Intercepts were highlighted by 24.2 grams per tonne of gold at a depth of eight metres.
Kingsgate Consolidated (ASX:KCN) closed up 60 per cent this week, to 23c, after winning a significant court battle.
Kingsgate has been fighting the Thai government and its insurers over the premature closure of its Chatree gold mine.
This week it told investors insurers had agreed to a whopping $82 million payout.
|ASX code||Company||Market Cap||Price this Friday||Price last Friday||% change|
|SKN||SKIN ELEMENTS LTD||$ 6,206,301.50||0.018||0.043||126|
|CLI||CROPLOGIC LTD||$ 8,601,479.00||0.016||0.029||123|
|SPX||SPECTRUM METALS LTD||$ 25,228,364.00||0.011||0.024||118|
|JXT||JAXSTA LTD||$ 82,880,624.00||0.220||0.380||111|
|VMG||VDM GROUP LTD||$ 12,555,322.00||0.002||0.002||100|
|VAR||VARISCAN MINES LTD||$ 2,542,147.25||0.001||0.002||100|
|SRO||SHAREROOT LTD||$ 3,100,000.00||0.001||0.002||100|
|TMK||TAMASKA OIL & GAS LTD||$ 3,920,000.00||0.001||0.002||100|
|1ST||1ST GROUP LTD||$ 14,118,496.00||0.055||0.054||93|
|KCN||KINGSGATE CONSOLIDATED LTD||$ 54,294,224.00||0.150||0.230||60|
|EM1||EMERGE GAMING LTD||$ 20,565,776.00||0.028||0.033||59|
|BCC||BEAM COMMUNICATIONS HOLDINGS||$ 14,275,832.00||0.170||0.270||59|
|EN1||ENGAGE:BDR LTD||$ 11,731,770.00||0.017||0.028||56|
|JPR||JUPITER ENERGY LTD||$ 6,901,996.00||0.030||0.045||50|
|GBP||GLOBAL PETROLEUM LTD||$ 6,079,588.00||0.020||0.030||50|
|MHC||MANHATTAN CORP LTD||$ 4,447,672.00||0.005||0.006||50|
|NWE||NORWEST ENERGY NL||$ 10,146,278.00||0.002||0.003||50|
|ROG||RED SKY ENERGY LTD||$ 3,039,626.50||0.002||0.003||50|
|RXH||REWARDLE HOLDINGS LTD||$ 1,578,964.50||0.002||0.003||50|
|VPR||VOLT POWER GROUP||$ 12,400,000.00||0.001||0.002||50|
|UWL||UNITI WIRELESS LTD||$ 47,823,600.00||0.262||0.365||49|
|AGD||AUSTRAL GOLD LTD||$ 53,417,300.00||0.067||0.100||47|
|AUQ||ALARA RESOURCES LTD||$ 18,241,510.00||0.028||0.029||45|
|CZR||COZIRON RESOURCES LTD||$ 17,855,512.00||0.007||0.010||43|
|CAN||CANN GROUP LTD||$ 308,746,400.00||1.570||2.210||41|
|PDI||PREDICTIVE DISCOVERY LTD||$ 3,305,989.00||0.012||0.014||40|
|GOO||GOOROO VENTURES LTD||$ 7,394,097.50||0.051||0.071||37|
|CMC||CHINA MAGNESIUM CORP LTD||$ 13,873,157.00||0.022||0.030||36|
|EUR||EUROPEAN LITHIUM LTD||$ 67,045,752.00||0.091||0.120||36|
|DXN||DATA EXCHANGE NETWORK LTD/TH||$ 18,747,074.00||0.072||0.096||33|
MacMillan Shakespeare (ASX:MMS) called off a merger with Eclipx (ASX:ECX) after the latter said profit was down another 42 per cent since January, compared to the first five months of fiscal 2018.
That sent Eclipx shares tumbling 59 per cent, the week’s biggest fall, to 73c.
There were big headaches at Wagners Holding (ASX:WGN), which fell 29 per cent to $2.20 this week.
It has a cement supply agreement with $5.7 billion construction giant Boral (ASX:BLD); and Boral has effectively used the Bunnings clause — “if you find a competitor’s lower price on the same stocked item, we’ll beat it by 10 per cent” — saying it has found cheaper cement elsewhere, and asked Wagners to reduce its price.
Wagners says revenue may be hurt by as much as $20 million.
|Ticker||Name||Market cap||Price this Friday||Price last Friday||% change|
|KLH||KALIA LTD||$ 7,543,042.00||0.004||0.003||-25|
|MRD||MOUNT RIDLEY MINES LTD||$ 3,499,296.50||0.002||0.002||-25|
|RNY||RNY PROPERTY TRUST||$ 1,580,483.38||0.008||0.006||-25|
|EER||EAST ENERGY RESOURCES LTD||$ 9,602,961.00||0.004||0.003||-25|
|GGX||GAS2GRID LTD||$ 3,469,227.25||0.004||0.003||-25|
|CYP||CYNATA THERAPEUTICS LTD||$ 127,293,816.00||1.790||1.250||-26|
|SL1||SYMBOL MINING LTD||$ 7,311,564.00||0.019||0.013||-26|
|MPR||MPOWER GROUP LTD||$ 3,348,025.00||0.030||0.022||-27|
|SCN||SCORPION MINERALS LTD||$ 1,947,269.75||0.015||0.011||-27|
|TRM||TRUSCOTT MINING CORP LTD||$ 1,296,257.00||0.015||0.011||-27|
|SFL||SPRING FG LTD||$ 4,277,726.00||0.041||0.030||-27|
|VP7||VELOCITY PROPERTY GROUP LTD||$ 12,667,252.00||0.048||0.035||-27|
|SPT||SPLITIT PAYMENTS LTD||$ 285,045,952.00||1.600||1.140||-28|
|FIJ||FIJI KAVA LTD||$ 5,995,920.00||0.100||0.086||-28|
|KGM||KALNORTH GOLD MINES LTD||$ 4,471,200.50||0.005||0.005||-29|
|DLC||DELECTA LTD||$ 3,479,981.00||0.006||0.005||-29|
|WGN||WAGNERS HOLDING CO LTD||$ 355,026,304.00||3.190||2.200||-29|
|FHS||FREEHILL MINING LTD||$ 13,681,251.00||0.021||0.017||-29|
|TMX||TERRAIN MINERALS LTD||$ 2,253,062.00||0.005||0.004||-30|
|DDD||3D RESOURCES LTD||$ 2,214,442.25||0.003||0.002||-33|
|AUH||AUSTCHINA HOLDINGS LTD||$ 2,230,770.00||0.003||0.002||-33|
|AKN||AUKING MINING LTD||$ 932,584.44||0.001||0.001||-33|
|CLZ||CLASSIC MINERALS LTD||$ 3,005,720.00||0.002||0.001||-33|
|CIO||CONNECTED IO LTD||$ 3,626,170.00||0.003||0.002||-33|
|GTE||GREAT WESTERN EXPLORATION LT||$ 3,860,797.25||0.006||0.004||-33|
|CGM||COUGAR METALS NL||$ 1,065,472.13||0.001||0.001||-33|
|BLK||BLACKHAM RESOURCES LTD||$ 24,781,206.00||0.027||0.018||-33|
|FRM||FARM PRIDE FOODS LTD||$ 24,831,080.00||0.685||0.450||-34|
|REF||REVERSE CORP LTD||$ 1,485,769.00||0.020||0.016||-36|
|9SP||9 SPOKES INTERNATIONAL LTD||$ 12,381,780.00||0.037||0.025||-37|
That’s all you need to know. Go go go!