On Stockhead today, S2 Resources’ Mark Bennett tells us the secret to finding big deposits, why Australia won’t get knocked off by a “lithium cartel”, and coal is… killing it in 2019.

But first, here’s what you need to know about the day ahead.

 

The day ahead in data

Not a great deal today. The Australian Bureau of Statistics is dropping data on building permits.

The US Federal Reserve maintained an easy bias toward interest rates and there were some strong jobs numbers, but a slowdown in manufacturing activity.

At home May started positively, with momentum propelled by the banks, including ANZ rallying 2.8 per cent on expectations beating half year numbers.

 

Company news

No companies have shares coming out of escrow today.

The following nine companies are due out of a trading halt in the next two business days:

Friday:

  • Tando Resources (ASX:TNO) – scoping study
  • GBM Resources (ASX:GBZ) – capital raising
  • Kingston Resources (ASX:KSN)  – capital raising
  • Wattle Health (ASX:WHA) – proposed acquisition update
  • Peninsula Mines (ASX:PSM) –  capital raising
  • Emu (ASX:EMU) – capital raising

Monday:

  • Magnetite Mines (ASX:MGT) – capital raising
  • Alto Metals (ASX:AME) – capital raising
  • Fenix Resources (ASX:FEX) – potential transport joint venture

 

Commodities

Gold: $US1271.77 ($1,817.10) -0.44%

Silver: $US14.62 -0.31%

Oil (Brent): $US70.46 -2.45%

Oil (WTI): $US61.58 -3.10%

Coal: $US88.35 +0.63%

Iron ore 62pc fe: $US93.65 +0.44%

AUD/USD: $US0.6999
 

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What got you talking yesterday

A story on ASX small caps that have gained 100 per cent or more since the start of the year was generating chat on the Stockhead Facebook chat forum.

Member Fidz Fidz: “Resource stocks aren’t going anywhere. Copper, nickel, cobalt my 3 picks for next movers.”

These were the five most-discussed stocks on trading gossip forum HotCopper at close on Thursday:

 

Yesterday’s winners

All the talk was about Kidman Resources (ASX:KDR), which was the subject of a mega $776 million takeover offer from Wesfarmers (ASX:WES). Kidman was worth about $522 million prior the announcement and had more than $200 million added to its market cap before lunch. Not too bad.

Wesfarmers, which most people know as the owner of Bunnings, Officeworks, Kmart, Target and formerly Coles, is after Kidman because of its 50 per cent holding of the Mt Holland lithium project in Western Australia, which needs about $600 million to get up and running in 2022.

Kidman is in favour of the bid. Its shares rose 45 per cent to $1.87 at close.

Microcap Quantify Technology (ASX:QFY) had a 50 per cent jump in shares to 0.9c on news it had appointed Taiwanese manufacturer CASwell to manufacture the company’s IoT product suite for both domestic and international markets.

The initial production run commences now, with first items expected to be delivered to Australia in July 2019.

Talga Resources (ASX:TLG) rebounded 20 per cent to 63c at lunch, after falling 27 per cent to 52c at close yesterday on the back of its quarterly report.

Managing director Mark Thompson described it as “another highly successful quarter”, so perhaps shareholders overreacted.

ASX code Company name Price % Chg Market cap Volume
DHR Dark Horse Resources Ltd 0.006 50% $11,900,000 1.3M
VPR Volt Power Group Ltd 0.002 50% $12,400,000 205.1k
QFY Quantify Technology Holdings L 0.009 50% $8,800,000 20.8M
KDR Kidman Resources Ltd 1.87 45% $757,000,000 33.9M
MAU Magnetic Resources NL 0.08 36% $61,100,000 1.0k
OEX Oilex Ltd 0.004 33% $10,300,000 91.0k
POH Phosphagenics Ltd 0.004 33% $6,300,000 2.0M
PWN Parkway Minerals NL 0.004 33% $2,400,000 2.0M
AER Aeeris Ltd 0.12 33% $6,800,000 120.4k
GPR Geopacific Resources Ltd 0.02 31% $44,100,000 374.0k
TBH Betmakers Holdings Ltd/The 0.06 30% $12,800,000 256.1k
DDT DataDot Technology Ltd 0.009 29% $7,300,000 4.0M
NGY NuEnergy Gas Ltd 0.014 27% $20,700,000 205.8k
DW8 Digital Wine Ventures Ltd 0.005 25% $3,900,000 2.5M
GTE Great Western Exploration Ltd 0.005 25% $4,800,000 1.0M
TYX Tyranna Resources Ltd 0.005 25% $4,700,000 1.8M
AMB Ambition Group Ltd 0.08 23% $5,100,000 200.0k
OSL OncoSil Medical Ltd 0.06 21% $39,700,000 5.9M
TLG Talga Resources Ltd 0.63 20% $136,700,000 693.9k
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Yesterday’s losers

Dome Gold Mines (ASX:DME) had a 36 per cent fall, to 15c, though it had no news out.

Apollo Tourism & Leisure (ASX:ATL) shares were slashed by 25 per cent, to 64c, after telling investors its profit for the 2019 financial year would be 27 per cent lower than it forecast when it released its half-year results back in February.

At the time, Apollo said FY19 profit could be as high as $24 million, but now it says the maximum will be $19.5 million, which is only a sliver more than the $19.2 million it made in FY18.

ASX code Company name Price % Chg Market Cap Volume
ADD Adavale Resources Ltd 0.002 -80% $222,000 1.0k
ADV Ardiden Ltd 0.002 -50% $3,400,000 4.9M
TOM Tomizone Ltd 0.004 -43% $1,700,000 165.0k
DME Dome Gold Mines Ltd 0.15 -36% $41,100,000 57.3k
T3D 333D Ltd 0.001 -33% $881,000 3.0M
IBN Ibuynew Group Ltd 0.03 -33% $697,000 85.4k
ATL Apollo Tourism & Leisure Ltd 0.64 -25% $120,100,000 2.2M
SRO Shareroot Ltd 0.002 -25% $2,400,000 14.8M
ROG Red Sky Energy Ltd 0.003 -25% $3,300,000 8.0k
PCH Property Connect Holdings Ltd 0.003 -25% $2,100,000 206.7k
CFE Cape Lambert Resources Ltd 0.012 -25% $12,200,000 1.1M
CA8 CoAssets Ltd 0.11 -21% $22,600,000 18.4k
HAV Havilah Resources Ltd 0.18 -20% $39,300,000 653.9k
UTR Ultracharge Ltd 0.004 -20% $3,800,000 1.7M
PCL Pancontinental Oil & Gas NL 0.002 -20% $10,800,000 2.8M
IP1 Integrated Payment Technologie 0.02 -20% $4,200,000 300.0k
AMI Aurelia Metals Ltd 0.61 -19% $525,100,000 33.7M
LNY Laneway Resources Ltd 0.009 -18% $33,100,000 41.9M
MTC MetalsTech Ltd 0.014 -18% $1,600,000 919.2k
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That’s all you need to know. Happy Friday.

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