On Stockhead today, copper finally achieves hottest ticket status, how Warren Buffett can cop a US$43bn loss and win, and why cash is king.

But first … the day ahead.

Local shares are set to open lower today. At 8am AEDT, the ASX 200 August futures is pointing down by 0.20%.


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

Conico (ASX:CNJ) – capital raising pending

Riversgold (ASX:RGL) – announcement around an acquisition

Tempus Resources (ASX:TMR) – announcement around drilling results

Odin Metals (ASX:ODM) – capital raising pending

Evolution Energy (ASX:EV1) – capital raising pending

Po Valley Energy (ASX:PVE) – another capital raising in the works

DevEx Resources (ASX:DEV) – pending drill results from the company’s Nabarlek Uranium Project

Southern Cross Gold (ASX:SXG) – pending an announcement around material exploration results



Gold: $US1,788.86 (+0.83%)

Silver: $US20.65 (+3.92%)

Nickel (3mth): $US21,620/t (-2.68%)

Copper (3mth): $US7,947/t (+0.97%)

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

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

Oil (WTI): $US90.66(+1.86%)

Oil (Brent): $US96.41 (+1.60%)

Iron 62pc Fe: $US110.38 (+1.08%)

AUD/USD: 0.6983 (-0.70%)

Bitcoin: $US23,841 (+2.34%)



OZ Minerals (ASX:OZL) knocked back BHP’s (ASX:BHP) hostile $3.8 billion bid:

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Also, be sure to check in preopen each day for ‘Market highlights and 5 ASX small caps to watch’, and 10.30am for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.



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

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Cardno (ASX:CDD) recently completed its sale of Cardno International Development, with proceeds of $56.5m to be distributed to Cardno Shareholders, equivalent to $1.70 per share, in three tranches.

The stock rose from $0.65 to $1.00 in morning trade yesterday, before settling at 86.5 cents when the ASX threw on the brakes by pausing trade for a speedy explanation.

After being terribly on the nose, post-pandemic, the online Aussie marketplace Redbubble (ASX:RBL) went on a bit of a Monday burn, when the brokers at UBS upgraded the dismal stock to a Buy.

UBS says RBL’s looming FY22 numbers may not be as utterly awful as expected, with a few signs suggesting sales might be a beat on the market’s admittedly low forecasts.

The price target on Redbubble was lifted to $1.60, from $1.45, as the Redbubble jumped almost 17%.

“Given the extreme level of investor disinterest in the name… we think a FY22 result which meets consensus expectations, combined with an improved July sales update, will be a positive catalyst for the share price,” UBS said.

Shares in Booktopia (ASX:BKG) were up as well after getting a lease agreement for a big warehouse thing in Strathfield, which it reckons will “underpin the company’s future distribution capacity”.



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

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