Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, why China has a tungsten fight on its hands, all the big data events coming this week, and five ways the world of crypto will change in 2022.
But first, the day ahead.
Local shares are set to open lower today. At 8am AEDT, the ASX 200 March futures is pointing down by 072%.
WHO’s LISTING?
Expected listing: Monday 21 February
IPO: $5.5m at $0.20
The explorer will be focused on two projects: the Ord Basin project along the WA/NT border, and the Albany-Fraser project in the state’s southwest.
The company says meaningful exploration around the Ord Basin has been limited over the past 50 years, so the project represents “a district scale, greenfields exploration opportunity for copper, nickel and PGE deposit types.”
At the Albany-Fraser project, Omnia will explore for intrusive-hosted nickel-copper sulphide deposits.
TRADING HALTS
The following companies are in Trading Halts and are expected out in the coming days.
Gold Mountain (ASX:GMN) — Capital raising
Metgasco (ASX:MEL) — Capital raising
Red Dirt Metals (ASX:RDT) — Capital raising
Ardea Resources (ASX:ARL) — Capital raising
Riedel Resources (ASX:RIE) — Capital raising
Pantera Minerals (ASX:PFE) — Extraordinary General Meeting — acquisition
Eve Health Group (ASX:EVE) — Capital raising
KneoMedia (ASX:KNM) — Capital raising
MARKETS
Gold: $US1,897.25 ($2,647.20) (0.00%)
Silver: $US23.89 ($33.33) (+0.35%)
Oil (WTI): $US91.49 (-0.29%)
Oil (Brent): $US93.61 (+0.69%)
Aust Coking Coal (steelmaking): $434.50/t (0.50%)
Newcastle Coal (thermal): $197/t (0.00%)
Iron 62pc Fe: $US141.11/t (-1.93%)
AUD/USD: $US0.7167 (-0.14%)
Bitcoin: $US38,327.05. (-4.36%)
WHAT GOT YOU TALKING LAST WEEK?
War may be happening, and gold – an investment safe haven — is surging toward $US,1900/oz.
#Gold, #Palladium and #Platinum rally strongly as the prospect of war in Europe returns as Risk Number One for financial markets.#ASX $NCM $NST $AGG $DCN $TIE
https://t.co/7JMT8kep7V— Stockhead (@StockheadAU) February 18, 2022
Meanwhile, Bitcoin is crapping the bed. So much for ‘digital gold’.
Why #BTC isn’t #Gold in one easy chart… pic.twitter.com/BXz36loE8H
— hidflect (@hidflect) February 11, 2022
LAST WEEK’S ASX SMALL CAP WINNERS:
Here are the best performing ASX small cap stocks for February 14 – 18:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| GCR | Golden Cross | 0.22 | 1057.9% | $2,084,787 |
| HOR | Horseshoe Metals Ltd | 0.034 | 183.3% | $6,545,915 |
| ANL | Amani Gold Ltd | 0.0015 | 50.0% | $34,400,162 |
| PBX | Pacific Bauxite Ltd | 0.15 | 50.0% | $1,189,876 |
| LKO | Lakes Blue Energy | 0.0015 | 50.0% | $86,540,353 |
| ITM | Itech Minerals Ltd | 0.56 | 47.4% | $45,577,498 |
| BRX | Belararoxlimited | 0.545 | 47.3% | $14,731,610 |
| QGL | Quantum Graphite | 0.365 | 46.0% | $101,085,000 |
| IS3 | I Synergy Group Ltd | 0.13 | 44.4% | $21,126,143 |
| HVM | Happy Valley | 0.084 | 40.0% | $18,490,071 |
| PG1 | Pearl Global Ltd | 0.028 | 40.0% | $18,265,511 |
| BOC | Bougainville Copper | 0.56 | 40.0% | $224,595,000 |
| NET | Netlinkz Limited | 0.022 | 37.5% | $75,052,687 |
| IHL | Incannex Healthcare | 0.59 | 34.1% | $725,116,802 |
| BNR | Bulletin Res Ltd | 0.165 | 32.0% | $51,400,784 |
| FXG | Felix Gold Limited | 0.18 | 28.6% | $13,697,632 |
| RNX | Renegade Exploration | 0.009 | 28.6% | $6,597,200 |
| SIS | Simble Solutions | 0.027 | 28.6% | $9,879,318 |
| HPR | High Peak Royalties | 0.051 | 27.5% | $10,447,820 |
| TMK | Tamaska Oil Gas Ltd | 0.014 | 27.3% | $31,680,000 |
| ARE | Argonaut Resources | 0.005 | 25.0% | $12,621,717 |
| EDU | EDU Holdings Limited | 0.2 | 25.0% | $19,977,456 |
| ARC | ARC Funds Limited | 0.735 | 24.6% | $21,053,446 |
| BRV | Big River Gold Ltd | 0.295 | 22.9% | $66,063,500 |
| AVR | Anteris Technologies | 22.74 | 22.7% | $253,899,182 |
| TYM | Tymlez Group | 0.038 | 22.6% | $37,500,358 |
| DTM | Dart Mining NL | 0.1 | 22.0% | $10,706,220 |
| ALA | Arovella Therapeutic | 0.051 | 21.4% | $25,849,497 |
Two junior explorers, Golden Cross Resources (ASX:GCR) and Horseshoe Metals (ASX:HOR), came out of ASX suspensions Friday and posted big percentage gains — at least with reference to their pre-suspension trading levels.
iTech Minerals (ASX:ITM) says drilling at its Eyre Peninsula tenement package — targeting rare earth ionic adsorption clays and high purity kaolin — “is well ahead of schedule”.
Bulletin Resources (ASX:BNR) announced high grade lithium assays up to 8.21% Li2O in rock chips at the ‘Ravensthorpe’ project in WA.
Hard rock lithium operations usually produce at grades of ~1% lithium.
TSX listed project generator Millrock Resources snapped up a 5.8% stake in Felix Gold (ASX:FXG), which listed on the ASX at the end of January.
Race Oncology (ASX:RAC) executive director and founder Daniel Tillet is joining the board of smart energy software company Simble Solutions (ASX:SIS).
And embattled junior explorer Argonaut (ASX:ARE) says Zambian Government authorities are investigating the purported cancellation of the Lumwana West exploration licence following in-person representations by the explorer.
In January, the Zambians unexpectedly did not renew an exploration licence over ‘Lumwana West’, which includes the large Nyungu copper-cobalt deposit.
ARE believed there was corruption at play and lodged an appeal.
LAST WEEK’S ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks for February 14 – 18:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| ZBT | Zebit Inc. | 0.075 | -61.5% | $7,476,182 |
| MRI | My Rewards International | 0.089 | -55.5% | $12,773,639 |
| BAS | Bass Oil Ltd | 0.001 | -50.0% | $9,225,363 |
| CAQ | CAQ Holdings Ltd | 0.013 | -48.0% | $9,331,222 |
| PPS | Praemium Limited | 0.845 | -33.5% | $426,559,857 |
| GMN | Gold Mountain Ltd | 0.0115 | -32.4% | $12,841,790 |
| HLF | Halo Food Co. Ltd | 0.09 | -30.8% | $26,313,262 |
| ADV | Ardiden Ltd | 0.012 | -29.4% | $28,188,360 |
| LBY | Laybuy Group Holding | 0.1 | -28.6% | $24,717,462 |
| MLSDA | Metals Australia | 0.043 | -28.3% | $11,000,970 |
| OAK | Oakridge | 0.215 | -28.3% | $3,611,093 |
| TRT | Todd River Res Ltd | 0.056 | -27.3% | $31,980,622 |
| BBX | BBX Minerals Ltd | 0.125 | -26.5% | $66,703,114 |
| CRM | Carbon Minerals Ltd | 0.31 | -26.2% | $5,829,083 |
| KLI | Killiresources | 0.39 | -25.7% | $13,695,000 |
| SPX | Spenda Limited | 0.026 | -25.7% | $79,235,611 |
| BLZ | Blaze Minerals Ltd | 0.036 | -25.0% | $13,227,504 |
| EN1 | Engage:Bdr Limited | 0.0015 | -25.0% | $3,502,636 |
| JAV | Javelin Minerals Ltd | 0.0015 | -25.0% | $13,176,506 |
| PCH | Property Connect | 0.0015 | -25.0% | $1,028,795 |
| SGQ | St George Min Ltd | 0.048 | -25.0% | $27,691,974 |
| WOO | Wooboard Tech Ltd | 0.0015 | -25.0% | $7,644,325 |
| YPB | YPB Group Ltd | 0.0015 | -25.0% | $9,176,751 |
| 1MC | Morella Corporation | 0.021 | -25.0% | $113,876,708 |
| ROG | Red Sky Energy. | 0.006 | -25.0% | $37,115,590 |
Zebit (ASX:ZEB) recommenced trading last week, but probably shouldn’t have after initially flagging plans to delist.
The stock promptly slumped and is currently turning hands at a 95% discount from its October 2020 IPO price, when it raised $35m from investors.
Newly-listed employee and consumer rewards, loyalty and engagement program platform provider My Rewards (ASX:MRI) is also down after its recent IPO.
The firm runs a cloud-based, e-commerce platform where members access exclusive discounts and such.
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