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On Stockhead today, Australian could be a serious tantalum supplier, does DevEx Resources have a modern day Coronation Hill on its hands, and what happened to these seriously big ASX one-day gainers?
But first, here’s what you need to know about the week ahead.
Expect market volatility this week, as China has vowed to retaliate after the US raised tariffs on Chinese products by a whopping 15 per cent.
At home, it is a busy week of data, starting today with more home loan and investment lending figures from the Australian Bureau of Statistics. On Tuesday NAB releases its business confidence report for April, followed on Wednesday by Westpac’s consumer confidence report for May.
The ABS also releases quarterly and yearly wage price index figures on Wednesday.
There is a slew of data being released on Thursday, including consumer inflation expectations for May from the Melbourne Institute and a heap of employment data from the ABS. The Reserve Bank of Australia’s assistant governor Michele Bullock will also be delivering a speech on Thursday.
Here’s our list of companies with shares coming out of escrow this week, though we will keep you informed on a daily basis.
The following six companies are due out of a trading halt in the next 48 hours:
Tuesday:
Gold: $US1,285.60 ($1,838.20) +0.14%
Silver: $US14.75 -0.03%
Oil (Brent): $US70.62 +0.33%
Oil (WTI): $US61.66 -0.06%
Coal: $US87.50 -0.46%
Iron ore 62pc fe: $US95.08 +0.89%
AUD/USD: $US0.6994
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Magic mushrooms. That really had people talking on the Stockhead Facebook chat forum. Denver decriminalised the substance, psilocybin, during the week.
Hydrogen also had people talking, after Canadian researchers said they found a way to make hydrogen fuel cells cheap enough to replace traditional gasoline engines in vehicles.
Member Todd Thurkettle asked, “is now the right time to jump into hydrogen-based fuel companies?”
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Friday:
Afternoon Top 5 #MostDiscussedStocks: $LTR $OCC $LPD $GXY $GTG #asx #ausbiz https://t.co/xOFzWmkzay
— HotCopper (@HotCopper) May 10, 2019
Hear why Orthocell (ASX:OCC) and Liontown Resources (ASX:LTR) were up there down below. Genetic Technologies (ASX:GTG) got in there today on the basis of news it has come up with new risk profile tests for two types of cancer.
No surprises that the week’s biggest winner was Orthocell (ASX:OCC), which rose 277 per cent to 41c after patients reported the company’s CelGro collagen scaffold treatment had helped their nerve damage issues.
Company chief Paul Anderson later told Stockhead “the sky is the limit” for Orthocell. “There has been a realisation within the market that we were grossly undervalued.”
Liontown Resources (ASX:LTR) keeps finding thick zones of high grade lithium outside the current resource at its Kathleen Valley lithium-tantalum project in WA and its shares rose 100 per cent to 7.6c.
The latest round of drilling results, which includes 18m at 1.6 per cent Li2O from 189m, could substantially increase the current mineral resource estimate, the company says.
Here are the best performing ASX small cap stocks for May 6-10:
Swipe or scroll to reveal full table. Click headings to sort
| Ticker | Name | Price last Friday | Price this Friday | % change | Market cap |
|---|---|---|---|---|---|
| OCC | ORTHOCELL LTD | 0.11 | 0.41 | 277 | $ 50,150,588 |
| LTR | LIONTOWN RESOURCES LTD | 0.04 | 0.076 | 100 | $ 122,262,816 |
| NME | NEX METALS EXPLORATION LTD | 0.013 | 0.024 | 85 | $ 4,575,829 |
| PUA | PURE ALUMINA LTD | 0.027 | 0.066 | 78 | $ 8,212,365 |
| GMC | GULF MANGANESE CORP LTD | 0.005 | 0.009 | 60 | $ 33,744,572 |
| HWK | HAWKSTONE MINING LTD | 0.013 | 0.021 | 54 | $ 11,406,360 |
| PCL | PANCONTINENTAL OIL & GAS NL | 0.002 | 0.002 | 50 | $ 16,220,146 |
| SBR | SABRE RESOURCES LTD | 0.004 | 0.006 | 50 | $ 2,034,868 |
| ADD | ADAVALE RESOURCES LTD | 0.010 | 0.003 | 50 | $ 332,579 |
| FFC | FARMAFORCE LTD | 0.08 | 0.115 | 44 | $ 14,697,113 |
| SES | SECOS GROUP LTD | 0.036 | 0.05 | 42 | $ 15,486,524 |
| DW8 | DIGITAL WINE VENTURES LTD | 0.005 | 0.007 | 40 | $ 5,449,641 |
| DDT | DATADOT TECHNOLOGY LTD | 0.008 | 0.009 | 37 | $ 8,916,670 |
| GLE | GLG CORP LTD | 0.11 | 0.15 | 36 | $ 11,115,000 |
| TSL | TITANIUM SANDS LTD | 0.014 | 0.019 | 36 | $ 12,071,007 |
| KPO | KALINA POWER LTD | 0.020 | 0.028 | 35 | $ 19,578,862 |
| DN8 | DREAMSCAPE NETWORKS LTD | 0.1 | 0.14 | 35 | $ 52,494,300 |
| BMG | BMG RESOURCES LTD | 0.009 | 0.012 | 33 | $ 6,692,789 |
| CVS | CERVANTES CORP LTD | 0.003 | 0.004 | 33 | $ 1,994,033 |
| PWN | PARKWAY MINERALS NL | 0.003 | 0.004 | 33 | $ 2,433,308 |
| BUY | BOUNTY OIL & GAS NL | 0.003 | 0.004 | 33 | $ 3,813,604 |
| UWL | UNITI WIRELESS LTD | 0.615 | 0.87 | 33 | $ 107,439,320 |
| AJJ | ASIAN AMERICAN MEDICAL GROUP | 0.09 | 0.12 | 33 | $ 40,530,332 |
| IBN | IBUYNEW GROUP LTD | 0.023 | 0.03 | 30 | $ 653,805 |
The week’s biggest faller was Actinogen Medical (ASX:ACW), which sadly revealed a 10mg dose of its drug Xanamem was safe and well-tolerated by patients, but not effective in treating Alzheimer’s disease.
Shares in Actinogen fell 69 per cent to 1.5c, though the biotech lives to fight another day and will continue to trial different dosages to treat patients.
Here are the worst performing ASX small cap stocks for May 6-10:
Swipe or scroll to reveal full table. Click headings to sort
| Ticker | Name | Price last Friday | Price this Friday | % change | Market cap |
|---|---|---|---|---|---|
| GES | GENESIS RESOURCES LTD | 0.008 | 0.006 | -25 | $ 4,697,048 |
| TSC | TWENTY SEVEN CO LTD | 0.004 | 0.003 | -25 | $ 2,676,184 |
| MSR | MANAS RESOUCES LTD | 0.004 | 0.003 | -25 | $ 7,929,488 |
| PCH | PROPERTY CONNECT HOLDINGS | 0.004 | 0.003 | -25 | $ 2,057,590 |
| CAD | CAENEUS MINERALS LTD | 0.002 | 0.002 | -25 | $ 2,792,948 |
| MZN | MARINDI METALS LTD | 0.004 | 0.003 | -25 | $ 6,397,113 |
| RCP | REDBANK COPPER LTD | 0.024 | 0.018 | -25 | $ 2,105,494 |
| PUR | PURSUIT MINERALS LTD | 0.023 | 0.016 | -26 | $ 3,034,965 |
| CXZ | CONNEXION TELEMATICS LTD | 0.011 | 0.008 | -27 | $ 6,761,321 |
| LMW | LANDMARK WHITE LTD | 0.38 | 0.275 | -28 | $ 23,411,880 |
| TBH | BETMAKERS HOLDINGS LTD/THE | 0.053 | 0.04 | -28 | $ 11,483,966 |
| P2P | P2P TRANSPORT LTD | 0.32 | 0.23 | -28 | $ 19,608,304 |
| CZR | COZIRON RESOURCES LTD | 0.014 | 0.010 | -29 | $ 17,855,512 |
| KKL | KOLLAKORN CORP LTD | 0.010 | 0.007 | -30 | $ 1,468,440 |
| ABV | ADVANCED BRAKING TECHNOLOGY | 0.010 | 0.007 | -30 | $ 2,079,349 |
| ENT | ENTERPRISE METALS LTD | 0.010 | 0.007 | -30 | $ 2,809,889 |
| HCO | HYLEA METALS LTD | 0.028 | 0.017 | -32 | $ 1,902,629 |
| QTG | Q TECHNOLOGY GROUP LTD | 0.009 | 0.006 | -33 | $ 901,237 |
| VAR | VARISCAN MINES LTD | 0.001 | 0.001 | -33 | $ 1,271,074 |
| ARO | ASTRO RESOURCES NL | 0.003 | 0.002 | -33 | $ 2,544,195 |
| RXH | REWARDLE HOLDINGS LTD | 0.003 | 0.003 | -33 | $ 1,052,643 |
| CMC | CHINA MAGNESIUM CORP LTD | 0.035 | 0.020 | -43 | $ 9,248,771 |
| ICU | ISENTRIC LTD | 0.012 | 0.006 | -50 | $ 1,101,930 |
| TMK | TAMASKA OIL & GAS LTD | 0.002 | 0.001 | -50 | $ 1,960,000 |
| ACW | ACTINOGEN MEDICAL LTD | 0.048 | 0.015 | -69 | $ 16,788,470 |
That’s all you need to know. Time to get this Monday party started.
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