Rise and Shine: What you need to know before the ASX opens
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Coming up on Stockhead today, the case against making smallcap directors personally liable, why Amani Gold got Klaus Eckhof on its team, and why Lithium Australia isn’t so sure about WA’s new battery metals research facility.
But first, here’s what you need to know right now:
The RBA will release its bi-annual Financial Stability Review at 11:30am AEST, which may provoke some chatter about the housing downturn, corporate debt and the outlook for domestic consumption.
In the Asia-Pacific region there’s trade data for the month of March out of China, while global markets will be watching for the latest Brexit developments with no major data releases scheduled in the US, UK or Europe.
10 companies are due out of trading halts over the next two days, four today and six on Monday:
Gold: $US1,292.48 ($1,814.12) -1.19%
Silver: $US14.92 -1.70%
Oil (Brent): $US71.04 -1.12%
Oil (WTI): $US63.65 +2.50%
Coal: $US87.00 +2.21%
Iron ore 62% fe: $US95.65 +1.1%
Group member Mel Culley offered some commentary on the Stockhead Facebook page, regarding an announcement by BHP in response to federal government funding initiatives for Australia’s battery industry.
“This does not mean BHP shares will fly, but more importantly this will keep everyone on their toes watching who takes the plunge first into getting a mega factory up and running,” Culley said.
“This will also lead to the upstream miners providing additional nickel, cobalt, vanadium and lithium for that market. It will be also be prudent to follow developments in other battery possibilities — zinc, vanadium and thermal energy. Exciting times ahead.”
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Thursday:
— HotCopper (@HotCopper) April 11, 2019
Alloy Resources (ASX: AYR) held its early gains, posting a 50 per cent increase to 0.3 cents after some good news at its Horse Well gold project — a joint venture with Silver Lake Resources.
Alloy said total inferred resources at the Horse Well JV now total 237,800 oz, a 300 per cent increase from previous estimates.
Junior oil & gas explorer Norwest Energy (ASX: NWE) also rose by 50 per cent on no news, while IT security company archTIS Limited (ASX: AR9) boosted higher by almost 40 per cent, two days after releasing its April 2019 investor presentation.
Gold miner Gladiator Resources (ASX: GLA) was the worst performer on the day, finishing 50 per cent lower at just 0.1 cents per share.
The company came out of a trading halt last week after announcing plans to purchase the Mpokoto gold project in the Democratic Republic of Congo.
And listed renewables play Astivita Ltd (ASX: AIR) slumped by almost 40 per cent to 19 cents, after issuing a Change in Director’s Interest Notice which showed that colourful Brisbane businessman Lez Mizikovsky had sold down 10 million shares in the company.