Rise and Shine: What you need to know before the ASX opens

On Stockhead today, the most expensive cargo of lithium spodumene ever, why we’re unlikely to see commission-free ASX trading, and MinRes cops a big discount for iron ore.

But first, the day ahead.

Today, the Bureau of Statistics (ABS) publishes the September quarter Consumer Price Index (CPI).

Commsec says that CBA Group economists expect that the ‘headline’ CPI rose by 0.8pc in the quarter with higher prices for food, petrol, furnishings, household equipment, alcohol and tobacco all expected.

It also says that if the forecast is correct, “the annual growth rate would ease from 12 1/2 highs of 3.8pc in the June quarter to 3pc in the September quarter.”

WHO’S LISTING?

Star Minerals is listing today at 1pm AEDT under the code SMS. 

The Western Australian gold explorer has set itself the ambitious goal of starting gold mining within 12 months of completing its planned initial public offering.

While most new resource plays start with prospective ground and are lauded for starting exploration right off the bat, the company isn’t satisfied with just remaining an explorer and has set itself some lofty goals.

Star Minerals already has an inferred resource of 600,000t grading 2.2 grams per tonne (g/t) gold for 42,500oz of contained gold at Tumblegum South.

Proceeds from the planned $5m initial public offering will be used to progress the project towards production.

TRADING HALTS

Wednesday

Bowen Coking Coal (ASX:BCB) – update on Bluff PCI Mine acquisition
Sparc Technologies (ASX:SPN) – capital raising
Electro Optic Systems (ASX:EOS) – earnings downgrade
Estrella Resources (ASX:ESR) – exploration update
Tesoro Resources (ASX:TSO) – capital raising
Chase Mining (ASX:CML) – capital raising
Impedimed (ASX:IPD) – capital raising

Thursday

Centrex Metals (ASX:CXM) – capital raising
BIR Financial (ASX:BIR) – corporate transaction
Gold Road Resources (ASX:GOR) – ore reserve increase
Toys’R’Us (ASX:TOY) – new contract
Auroch Minerals (ASX:AOU) – capital raising
West African Resources (ASX:WAF) – acquisition and capital raising

MARKETS

Gold: US$1,794.12 ($2,390.47) (-0.74%)

Silver: US$24.16 ($32.19) (-1.59%)

Oil (WTI): US$84.66 (+1.06%)

Oil (Brent): US$86.38 (+0.45%)

Coal: US$226.00 (-0.00%)

Iron 62pe Fe: US$122.47 (+0.34%)

AUD/USD: US$0.7505 (+0.20%)

Bitcoin: US$62,060.73 ($82,689.22) (-1.06%)

WHAT GOT YOU TALKING YESTERDAY?

Ionic Rare Earths (ASX:IXR) has been granted a new exploration licence that expands the area of its Makuutu rare earths project in Uganda by 56sqkm to 300sqkm.

The company had applied for EL00257 after its phase 3 rotary air blast drilling intersected thick clay intervals more than 2km north and west of the basin margin.

Ionic has been granted a new exploration licence that expands the area of its Makuutu rare earths project in Uganda by 56sqkm to 300sqkm.https://t.co/Elq9E3EHOu #ad #ASX $IXR

— Stockhead (@StockheadAU) October 26, 2021

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Also, be sure to check in at 10.20am each day for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.

YESTERDAY’S WINNERS

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Bluechiip (ASX:BCT), a company developing a tracking technology designed for medical samples stored at sub-zero temperatures, signed a licence and development agreement with Fujifilm Irvine Scientific.

In resources, magnesium hopeful Korab Resources (ASX:KOR) rose despite not having any news, leading to trading being paused. Emmerson Resources (ASX:ERM) meanwhile did have news – in the form of visible copper intersections at its Tennant Creek project.

Camplify (ASX:CHL), a campervan and motorhome sharing community which has more than tripled since listing in June, announced a $7m+ acquisition deal. It is buying the Mighway and SHAREaCAMPER businesses and assets in Australia and New Zealand.

YESTERDAY’S LOSERS

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Medibio (ASX:MEB) fell after updating shareholders on its path to get FDA approval for its technology used to diagnose sleep disorders, announcing it was pivoting to another pathway to regulatory clearance.