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

On Stockhead today, would Elon Musk actually avoid Indonesian nickel, there’s no avoiding today’s inflation read, and Guy Le Page has gone all mystic on us.

But first … the day ahead.

Local shares are set to open lower today. At 8.30am AEDT, the ASX 200 August futures is pointing up by 0.40%.

Listing at 11am AEST is Sierra Rutile Holdings (ASX:SRX), a multi-mine mineral sands operation straddling the Bonthe and Moyamba districts in southern Sierra Leone. Here’s Josh Chiat’s rundown on all you need to know about why this could be a smokie.

TRADING HALTS

The following companies went into trading halts yesterday and are expected out in the next few days:

Rimfire Pacific Mining (ASX:RIM) – pending an update around the release of funds from Golden Plains Resources around the Fifield project earn in.

Gondolphin Resources (ASX:GRL) – capital raising pending.

Blue Energy (ASX:BLU) – capital raising pending.

De.mem (ASX:DEM) – another one raising capital.

MARKETS

Gold: $US1,715.67 (-0.04%)

Silver: $US18.70 (+1.43%)

Nickel (3mth): $US21,740/t (-2.20%)

Copper (3mth): $US7,545/t (+0.88%)

Lithium Carbonate, China (Benchmark Minerals Intelligence, June 30): $US69,750/t (0.0% weekly)

Lithium Hydroxide, China (Benchmark Minerals Intelligence, June 30): $US70,875/t (0.0% weekly)

Oil (WTI): $US95.80 (-1.09%)

Oil (Brent): $US104.87 (-0.34%)

Iron 62pc Fe: $US106.01 (+0.56%)

AUD/USD: 0.6949 (+0.15%)

Bitcoin: $US21,127  (-2.78%)

WHAT GOT YOU TALKING YESTERDAY?

Avocados as far as the eye can see:

• Avocado oversupply leads to record low retail prices of $1 each, down from ~$5 previously
• Domestic avocado production to expand by 40% in the next five years: Rabobank
• Ramping up exports will be critical to ensuring sustainable prices for growershttps://t.co/2JPDYs0bqu

— Stockhead (@StockheadAU) July 25, 2022

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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 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.

First up was Security Matters (ASX:SMX) who officially entered into a business combination agreement and accompanying scheme implementation deed with the Nasdaq-listed Lionheart III Corp (NASDAQ:LION).

The new arrangement will see SMX list on the Nasdaq via a newly-formed Irish company (to be named SMX Ireland!), with existing SMX shareholders set to receive consideration via a scheme of arrangement consisting of an aggregate of 20,000,000 ordinary shares of SMX Ireland.

Following in the footsteps of Zip Co (ASX:ZIP) and former bride to be Sezzle (ASX:SZL), a whole flotilla of forlorn buy now, pay later companies were doing pretty well on Tuesday.

Sezzle was up HEAPS. Zip Co  about 20% (after reporting a June qtr 27% increase in revenue and a pretty fab lift in customer numbers to 12 million. They’re pulling out of some ill-advised foreign adventures too.) Also, Splitit (ASX:SPT) was up 16% and Humm (ASX:HUM) almost 4%.

In the world of resources, Polymetals Resources (ASX:POL) was killing it on zero news – and low volumes – a phenomenon, Gregor noted, we’ve seen quite a bit of lately, and which is no doubt causing consternation among certain elements of the ASX regulators.

Semiconductor processing equipment firm Revasum (ASX:RVS) was up on the news Scott Jewler is the new president and CEO.

Dart Mining (ASX:DTM) was up strongly after entering into an earn-in with SQM Australia’s wholly-owned subsidiary Sociedad Química y Minera de Chile, giving SQM the right (but not the obligation) to sole fund exploration worth $12 million over the next six years at the Dorchap Lithium Project.

YESTERDAY’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.

Nitro Software (ASX:NTO), was bleeding out after investors were miffed it failed to hit previous guidance – despite lifting year on year annual recurring revenue (ARR) of US$57 million to US$60 million, that’s yYoY growth of as much as 30%.

But, it still wasn’t the ARR promised –  which was US$64m to US$68m. That’s YoY targeted growth of as high as 47%.