Rise and Shine: What you need to know before the ASX opens
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And just like that, it’s Monday again. But never fear, there’s plenty to make the week fly by.
On Stockhead today, we look at why these 56 small cap mining stocks are suspended, directors are finally back buying into their own companies, and we kick off our an interview series on the scandalously few women leading small cap boards.
But first, here’s what you need to know right now:
The week ahead in data
Nothing today, but tomorrow will see ANZ Roy Morgan consumer confidence figures released.
Wednesday will see the Australian Bureau of Statistics release data on construction work around the country.
Thursday and Friday are jam-packed: on the former Bloomberg releases its January Australian economic survey, while the Reserve Bank of Australia releases data on private capital expenditure and private sector credit figures.
The latter sees the Australian Industry Group releases monthly figures on manufacturing companies, CoreLogic drops housing data and the RBA releases commodity index data.
Company news
Aeeris (ASX:AER) and Integral Diagnostics (ASX:IDX) have 127,500 and 776,720 shares each coming out of escrow today, and a whole host of companies will release shares from escrow this week. Catch up on who at this link.
There’s also three companies due out of a trading halt today: Pure Minerals (ASX:PM1) regarding its acquisition of Queensland Pacific Minerals, Millennium Minerals (ASX:MOY) with a cap raise and Gazal Corp (ASX:GZL) with an announcement relating to a “potential control transaction”.
Commodities
Gold: $US1,327.71 +0.35%
Silver: $US15.9160 +0.64
Oil (Brent): $US67.1200 +0.07%
Oil (WTI): $US57.26 +0.53%
Coal: $US93.45 -0.05%
Iron ore 62% fe: $US88.16 +0.15%
AUD/USD: $US0.733 +0.06%
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What got you talking last week
Over on the Stockhead Facebook group — click here to join the fun — there was plenty of action.
Reports China is banning the import of Australian coal is not good news for our coal miners, wrote Stockhead senior resources journalist Angela East, but there is assurance that a long-term ban is unlikely.
There was also chatter about millennials and their investing habits, courtesy of an article by Stockhead senior journalist Rachel Williamson.
Over on stock gossip forum HotCopper, these were the most discussed stocks by Friday close:
Close Top 5 #MostDiscussedStocks: $GXY $SAS $PLS $APT $AVZ #asx #ausbiz https://t.co/xOFzWmkzay
— HotCopper (@HotCopper) February 22, 2019
No surprise to see Afterpay (ASX:APT) in there, after a Senate inquiry released its report into the buy now pay later sector.
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This week’s winners
The standout this week by far was Leigh Creek Energy (ASX:LCK), which admitted on Tuesday that it can now produce commercial quantities of synthetic gas.
Shares ended the week 119 per cent higher at 19.5c.
Leigh Creek has been testing a pilot plant which converts underground coal into gas, which it plans to turn into products like fertiliser. It had first gas from the plant in October.
The plant has now achieved a peak flow of 7.5 million cubic feet per day.
That equates to 2.7 billion cubic feet each year from just one chamber, but Leigh Creek plans to operate up to 20 chambers at any one time.
Copper miner Hot Chili (ASX:HCH), meanwhile, climbed 93 per cent to close the week out at 2.7c.
And when a small company rockets higher out of nowhere like this, the ASX often echoes the sentiments of Marvin Gaye and asks: what’s going on?
But Hot Chili pleaded ignorance, saying it didn’t know why and had nothing on the table that could have spurred the sharp rise.
| Ticker | Name | Market cap | Price this Friday | Price last Friday | % change |
|---|---|---|---|---|---|
| HCH | HOT CHILI LTD | $ 30,075,360.00 | 0.027 | 0.014 | 121.4286 |
| LCK | LEIGH CREEK ENERGY LTD | $ 86,147,216.00 | 0.19 | 0.089 | 96.6292 |
| QTG | Q TECHNOLOGY GROUP LTD | $ 1,351,855.38 | 0.009 | 0.005 | 80 |
| AKN | AUKING MINING LTD | $ 1,398,876.75 | 0.0015 | 0.001 | 50 |
| KLH | KALIA LTD | $ 7,543,042.00 | 0.003 | 0.002 | 50 |
| LKO | LAKES OIL NL | $ 49,087,904.00 | 0.001 | 0.001 | 50 |
| LPD | LEPIDICO LTD | $ 93,972,904.00 | 0.027 | 0.019 | 47.3684 |
| BNO | BIONOMICS LTD | $ 92,596,600.00 | 0.16 | 0.12 | 41.6667 |
| VMS | VENTURE MINERALS LTD | $ 13,015,300.00 | 0.024 | 0.018 | 38.8889 |
| HWK | HAWKSTONE MINING LTD | $ 12,546,996.00 | 0.022 | 0.016 | 37.5 |
| WWI | WEST WITS MINING LTD | $ 8,506,091.00 | 0.01 | 0.008 | 37.5 |
| GZL | GAZAL CORP LTD | $ 269,465,696.00 | 6.05 | 4.4 | 37.0455 |
| KLL | KALIUM LAKES LTD | $ 80,510,464.00 | 0.43 | 0.32 | 34.375 |
| HGM | HIGH GRADE METALS LTD | $ 5,435,254.50 | 0.012 | 0.009 | 33.3333 |
| MHC | MANHATTAN CORP LTD | $ 2,965,114.75 | 0.004 | 0.003 | 33.3333 |
| NSE | NEW STANDARD ENERGY LTD | $ 3,152,239.25 | 0.004 | 0.003 | 33.3333 |
| RNX | RENEGADE EXPLORATION LTD | $ 2,850,506.50 | 0.004 | 0.003 | 33.3333 |
| RNY | RNY PROPERTY TRUST | $ 2,107,311.00 | 0.008 | 0.006 | 33.3333 |
| SYT | SYNTONIC LTD | $ 23,856,882.00 | 0.007 | 0.006 | 33.3333 |
| TPD | TALON PETROLEUM LTD | $ 5,040,491.50 | 0.003 | 0.003 | 33.3333 |
This week’s losers
On the flipside, the biggest loser of the week was Energy Technologies (ASX:EGY), which slumped 65 per cent to 14c.
The company has been going through a recapitalisation.
It’s complicated, but the company and its lenders, including the holders of debentures and notes issued by the company and its subsidiary, Bambach Wire & Cables, have agreed to convert all of their existing unredeemed and unconverted debt into ordinary shares in the company.
| Ticker | Name | Market cap | Price this Friday | Price last Friday | % change |
|---|---|---|---|---|---|
| ANL | AMANI GOLD LTD | $ 7,385,455.00 | 0.003 | 0.004 | -25 |
| ADV | ARDIDEN LTD | $ 5,030,640.50 | 0.0035 | 0.004 | -25 |
| CLZ | CLASSIC MINERALS LTD | $ 4,072,488.00 | 0.002 | 0.002 | -25 |
| IAM | INTIGER GROUP LTD | $ 10,067,375.00 | 0.007 | 0.008 | -25 |
| IVO | INVIGOR GROUP LTD | $ 7,780,546.50 | 0.0035 | 0.004 | -25 |
| MTB | MOUNT BURGESS MINING NL | $ 1,326,238.13 | 0.003 | 0.004 | -25 |
| NOR | NORWOOD SYSTEMS LTD | $ 4,326,962.00 | 0.003 | 0.004 | -25 |
| RXH | REWARDLE HOLDINGS LTD | $ 1,578,964.50 | 0.002 | 0.004 | -25 |
| SRO | SHAREROOT LTD | $ 2,354,181.50 | 0.002 | 0.002 | -25 |
| XPE | XPED LTD | $ 2,260,246.25 | 0.0015 | 0.002 | -25 |
| AO1 | ASSETOWL LTD | $ 893,850.69 | 0.01 | 0.014 | -28.5714 |
| MRV | MORETON RESOURCES LTD | $ 15,534,852.00 | 0.005 | 0.007 | -28.5714 |
| SVH | SILVER HERITAGE GROUP LTD | $ 12,612,198.00 | 0.01 | 0.014 | -28.5714 |
| BIT | BIOTRON LTD | $ 41,085,988.00 | 0.069 | 0.097 | -28.866 |
| ZNO | ZOONO GROUP LTD | $ 13,856,080.00 | 0.085 | 0.12 | -29.1667 |
| MPR | MPOWER GROUP LTD | $ 5,326,403.50 | 0.035 | 0.05 | -30 |
| ARO | ASTRO RESOURCES NL | $ 2,544,194.75 | 0.002 | 0.003 | -33.3333 |
| EVE | EVE INVESTMENTS LTD | $ 9,094,124.00 | 0.004 | 0.006 | -33.3333 |
| MNC | METMINCO LTD | $ 2,375,881.25 | 0.002 | 0.003 | -33.3333 |
| NWE | NORWEST ENERGY NL | $ 6,764,185.50 | 0.003 | 0.003 | -33.3333 |
That’s all you need to know. Hop to it!
