On Stockhead today, how ASX rebalancing affects share prices, will the US Senate send weed stocks to new highs, and 3 carbon-focused plays for your portfolio.

But first … the day ahead.

 

WHO’S LISTING?

Finder Energy (ASX:FDR) will list at 10.30am, 18 years after it first formed as Finder Exploration.

It raised $15 million in an IPO at 20c a pop, with one of the largest portfolios in Australia’s North West Shelf including interests in permits in the Dampier and Beagle sub-basins as well as the Vulcan Sub-basin of the Bonaparte Basin.

The company is poised to spud its Kanga-1 oil exploration well in early May that targets best case prospective resources of about 170 million barrels of oil with 25.5MMbbl net to Finder (15%) in the high quality Legendre reservoir.

The well in WA-412-P is located near existing oil fields in the heart of the Carnarvon Basin and has been independently assessed to have a 36% geological chance of success.

“A discovery will be a game-changer. Because of our tight capital structure with only around 150 million shares on issue, shareholders have enormous leverage to success,” managing director Damon Neaves told Stockhead’s Bevis Yeo.

There are some big names on board with Indiana Resources (ASX:IDA) executive chair Bronwyn Barnes in as independent exec chair and Fred Wehr, credited with leading the team that made the major Dorado oil discovery in 2018, an independent non-exec director.

At 12.30pm AEDT it will be Noble Helium’s (ASX:NHE) turn.

It is eyeing the 400% increase in helium demand its says will come from nuclear fusion’s conversion from dream to reality and rollout as “man’s greatest advance in clean energy production.”

Fighting words those, but there are many uses in the US$6 billion global helium market today. The lightweight gas is used in semiconductor production (19% and forecast to hit 28% of all demand), fibre optics, rocket fuel pressurisation, making funny voices, cryogenics, and cooling superconducting magnets used in medical imaging.

Noble is seeking helium in four basins across Tanzania, where it says it has observed seeps of up to 18% helium at surface, 40 times the normal concentrations in the natural gas fields that currently supply most of the world’s helium.

It has independent certification of resource estimates for the first of four basins under licence or application (the North Rukwa) of Summed Unrisked P50 Prospective Helium Volumes of 101 Bcf and Summed Unrisked Pmean Prospective Helium Volumes of 175.5 Bcf.

If proven the former would represent 17 years of supply based on current global demand.

 

TRADING HALTS

The following companies will exit trading halts in the coming days.

4DS Memory Limited (ASX:4DS) –  technical update

Virtus Health Limited (ASX: VRT) –  CapVest Partners LLP (CapVest) intends to submit a revised proposal to Virtus but no details of the terms of that revised proposal have been provided at this time

Thomson Resources (ASX:TMZ) –  material capital raise

Adslot Limited (ASX: ADS) – material capital raise

Redbank Copper Limited (ASX: RCP) –  capital raising

Ionic Rare Earths Limited (ASX: IXR) –  capital raising

Navigator Global Investments Limited (ASX: NGI) –  material acquisition

Rhinomed Limited (ASX:RNO) – material supply agreement and a capital raising

 

MARKETS (updated at 8am AEDT)

Gold: $US1,926.18 (+0.11%)

Silver: $US24.37 (-0.21%)

Oil (WTI): $US97.54.90 (+1.36%)

Oil (Brent): $US102.51 (+1.42%)

Aust Coking Coal (steelmaking): $386.91/t (-8.15%)

Newcastle Coal (thermal): $286.50/t (+1.96%)

Iron 62pc Fe: $US159.25 (-2.6%)

AUD/USD: $US0.7490 (-0.29%)

Bitcoin: $US43,543.80 (+0.87%)

 

WHAT GOT YOU TALKING YESTERDAY?

A hot uranium stock and iron ore juniors got the blood pumping for ASX small cap investors.

And we want to know which lithium stonk will be the next to crack the billion dollar milestone.

 

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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.

 

THURSDAY’S BIGGEST SMALL CAP WINNERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

Code Description Price % Volume
LCY Legacy Iron Ore 0.039 95.0% 193,161,019
IG6 Internationalgraphit 0.36 80.0% 11,164,635
HAW Hawthorn Resources 0.135 45.2% 11,669,201
PWN Parkway Corp Ltd 0.012 41.2% 95,295,650
JNO Juno 0.135 28.6% 633,223
9SP 9 Spokes Int Limited 0.005 25.0% 2,638,374
BAS Bass Oil Ltd 0.0025 25.0% 17,635,935
PRS Prospech Limited 0.06 22.4% 50,000
MAY Melbana Energy Ltd 0.165 22.2% 103,585,923
OPN Oppenneg 0.25 22.0% 1,994,719
CRB Carbine Resources 0.028 21.7% 4,611,148
DTR Dateline Resources 0.12 20.0% 1,901,311
OKR Okapi Resources 0.36 20.0% 1,968,840
KEY KEY Petroleum 0.003 20.0% 571,854
IGN Ignite Ltd 0.195 18.2% 54,017
NET Netlinkz Limited 0.04 17.6% 10,664,656
LRV Larvottoresources 0.275 17.0% 494,999
AHK Ark Mines Limited 0.35 16.7% 272,244
GME GME Resources Ltd 0.14 16.7% 611,286
GNM Great Northern 0.007 16.7% 6,761,523
CML Chase Mining Limited 0.015 15.4% 3,403,550
AQX Alice Queen Ltd 0.008 14.3% 62,500
ROG Red Sky Energy. 0.008 14.3% 59,509,806
ATV Activeportgroupltd 0.125 13.6% 63,717
TZL TZ Limited 0.125 13.6% 273,088
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International Graphite’s (ASX:IG6) main game appears to be the right one.

The integrated mine and downstream graphite business in WA says its goal is to produce battery anode material targeting the mega-growth in electric vehicle production which will drive a huge uptick in graphite demand and pricing over the next decade.

A lithium-ion battery needs 10 times more graphite than lithium, with each EV requiring ~55kg of flake graphite to make the battery anode.

Experts say the supply deficits are already here, and prices are beginning to show it. The Benchmark Graphite Price Index is currently up by 22% year-on-year. IG6 soared on debut, almost doubling.

JV buddies, Legacy Iron Ore (ASX:LCY) and Hawthorn Resources (ASX:HAW) are way, way up – some 75% in fact – after completing a deal with Gina Rinehart’s Hancock Prospecting for an initial $9m to earn into the ‘Mt Bevan’ iron ore project in WA.

Hancock will make an initial investment of $9m to earn a 30% interest in Mt Bevan, with $8m cash being paid to Legacy and Hawthorn in proportion to their interest in the project (Legacy $4.8m and Hawthorn $3.2m).

Hancock will hold a 30% interest, LCY will hold 42% and HAW will hold 28% upon completion of the initial investment.

Health and wellness company Wellnex Life (ASX:WNX) killed another quarter with stonkingly-strong revenue growth securing some $5.7 million of Q3 sales, including orders for its liquid paracetamol products.

Q3 revenue was way, way up on the $3.95 million on the prior corresponding period after revenue growth of ~40% in March alone.

Top brands like Wakey Wakey and The Iron Company, both now stocked in Coles and Woolworths, were strong contributors to the result, while there’s a big distribution deal with Mark Wahlberg’s sports supplements in the post.

Okapi Resources (ASX:OKR) also bounded higher on Thursday. The explorer will acquire 51% of the high-grade ‘Hansen’ uranium deposit, increasing the company’s resource at the ‘Tallahassee’ uranium project in Colorado by 81% to 49.8 million pounds.

It also increases the overall grade at Tallahassee by 10% to 540ppm. This deal — 22.2 million pounds U3O8 costing just $500,000 — transforms OKR, it says, “into a significant player in the USA uranium market”.

 

THURSDAY’S BIGGEST SMALL CAP LOSERS

(Stocks highlighted in yellow fell after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price % Volume
ANL Amani Gold Ltd 0.001 -50.0% 43,808,520
JAV Javelin Minerals Ltd 0.001 -50.0% 3,000,249
MEL Metgasco Ltd 0.03 -38.8% 48,181,974
ALT Analytica Limited 0.0015 -25.0% 1,100
XAM Xanadu Mines Ltd 0.028 -24.3% 6,790,563
AKN Auking Mining Ltd 0.165 -21.4% 4,562,293
GTG Genetic Technologies 0.004 -20.0% 117,686
EMT Emetals Limited 0.014 -17.6% 1,754,912
ADN Andromeda Metals Ltd 0.095 -17.4% 144,202,731
AVL Aust Vanadium Ltd 0.075 -16.7% 124,004,888
NZS New Zealand Coastal 0.005 -16.7% 5,433,566
PCL Pancontinental Energ 0.005 -16.7% 3,132,909
PNX PNX Metals Limited 0.005 -16.7% 1,696,666
EMU EMU NL 0.022 -15.4% 3,951,931
RDS Redstone Resources 0.011 -15.4% 1,893,846
LSR Lodestar Minerals 0.017 -15.0% 124,513,511
TMT Technology Metals 0.485 -14.9% 1,167,576
SER Strategic Energy 0.029 -14.7% 139,767
TON Triton Min Ltd 0.029 -14.7% 4,122,932
AVW Avira Resources Ltd 0.006 -14.3% 9,436,366
DDD 3D Resources Limited 0.003 -14.3% 3,451,009
AQD Ausquest Limited 0.025 -13.8% 2,374,063
ARU Arafura Resource Ltd 0.36 -13.3% 12,267,738
SYA Sayona Mining Ltd 0.295 -13.2% 88,605,077
HMX Hammer Metals Ltd 0.1 -13.0% 2,607,860
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