On Stockhead today, why resources win in recessions, why Myer is suddenly back on the radar, and why the Betaloo is heating up
But first … the day ahead.
Local shares are set to open lower today. At 8am AEST, the ASX 200 September futures contract is pointing down by 0.80%.
TRADING HALTS
The following companies went into trading halts yesterday and are expected out in the next few days:
Pure Resources (ASX: PR1) – in connection with the company’s Loyalty Option Issue.
The Market Herald (ASX:TMH) – in relation to the execution of an agreement regarding a material acquisition (word is it’s CarsGuide and Gumtree.)
Arcadia Minerals (ASX: AM7) – ahead of an announcement relating to the updated Bitterwasser Lithium Mineral Resource.
HeraMED (ASX:HMD) – ahead of proposed capital raise.
Heartshead Resources (ASX:HHR) – ahead of capital raise.
Doctor Care Anywhere Group (ASX:DOC) – ahead of announcement to the market.
Magmatic Resources (ASX:MAG) – ahead of material announcement to the market.
Live Verdure (ASX: LV1) – pending an announcement to the market regarding a material acquisition, capital raising and new CEO appointment.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1,735.85 (-0.69%)
Silver: $US18.98(-0.20%)
Nickel (3mth): $US22,415/t (+0.71%)
Copper (3mth): $US8,052.50/t (-0.32%)
Lithium Carbonate, China (Benchmark Minerals Intelligence, Aug 3): $US69,825/t
Lithium Hydroxide, China (Benchmark Minerals Intelligence, Aug 3): $US70,000/t
Oil (WTI): $US90.81 (+0.41%)
Oil (Brent): $US96.72 (+0.5%%)
Iron 62pc Fe: $US105.52 (-0.11%)
AUD/USD: 0.6881 (+0.10%)
Bitcoin: $US21,233 (-1.73%)
WHAT GOT YOU TALKING YESTERDAY?
Anson Resources (ASX:ASN) increased the resource at its Paradox lithium brine project in the US by a whopping 324%.
Keep up to date with Stockhead coverage or you’ll miss gold like that EVERY DAY. Follow our Twitter page.
For all you crypto lovers Stockhead’s Coinhead Facebook group is the place to share your views, insights, tips and ideas.
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.
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.
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| AQC | Auspaccoal Ltd | 0.255 | 89% | 369,439 | $6,815,449 |
| RAS | Ragusa Minerals Ltd | 0.29 | 53% | 19,092,482 | $24,193,606 |
| NRX | Noronex Limited | 0.06 | 50% | 6,614,484 | $6,818,391 |
| TD1 | Tali Digital Limited | 0.007 | 40% | 16,102,968 | $6,163,153 |
| ASN | Anson Resources Ltd | 0.2 | 38% | 30,980,626 | $149,047,289 |
| CBE | Cobre | 0.61 | 36% | 56,179,758 | $90,944,521 |
| MCT | Metalicity Limited | 0.004 | 33% | 17,061,824 | $10,376,118 |
| CCE | Carnegie Cln Energy | 0.0025 | 25% | 314,809 | $30,205,147 |
| XST | Xstate Resources | 0.0025 | 25% | 1,453,981 | $6,430,363 |
| AMM | Armada Metals | 0.12 | 20% | 2,058,228 | $5,000,000 |
| PRM | Prominence Energy | 0.003 | 20% | 567,465 | $6,061,522 |
| MEM | Memphasys Ltd | 0.037 | 19% | 1,784,677 | $24,557,528 |
| JPR | Jupiter Energy | 0.032 | 19% | 3,178 | $4,141,198 |
| CNJ | Conico Ltd | 0.065 | 18% | 88,259,079 | $79,877,789 |
| MCM | Mc Mining Ltd | 0.305 | 17% | 58,615 | $51,390,266 |
| MGA | Metals Grove Mining | 0.14 | 17% | 92,592 | $4,320,060 |
| GCR | Golden Cross | 0.014 | 17% | 210,022 | $13,167,073 |
| GLV | Global Oil & Gas | 0.0035 | 17% | 723,245 | $5,620,064 |
| SYN | Synergia Energy Ltd | 0.0035 | 17% | 10,542,384 | $25,253,372 |
| TSC | Twenty Seven Co. Ltd | 0.0035 | 17% | 73,285 | $7,982,442 |
| FRM | Farm Pride Foods | 0.18 | 16% | 3,000 | $8,552,927 |
| BXN | Bioxyne Ltd | 0.015 | 15% | 250,000 | $8,321,890 |
| CBL | Control Bionics | 0.23 | 15% | 413 | $10,066,181 |
| CTO | Citigold Corp Ltd | 0.008 | 14% | 2,951,000 | $19,835,614 |
| M8S | M8 Sustainable | 0.008 | 14% | 230,000 | $2,936,360 |
A Nathan Tinkler backed consortium wants to buy struggle town coalie Australian Pacific Coal (ASX:AQC) and its Dartbrook project.
It’s a generous offer, proposing to subscribe for 19.97% of AQC shares at $0.30 per share for a total of $3.78m.
Tinkler et al would then refinance the company’s debt and buy the rest of the stock for up to $0.30 per share “to allow existing shareholders to take the opportunity to liquidate their investment, should they wish to do so, once the refinancing has been completed”.
In 2017 Tinkler got ASIC’d from being a director until February 2021 because of his involvement in the collapse of 11 companies across mining, horse racing and sports.
Yesterday, AQC confirmed it has received the non-binding alt-proposal for the sale of the Dartbrook Project to Trepang Services from Nakevo.
AQC has been advised by Nakevo that the shareholders of Nakevo are: Oceltip Coal 2 Pty Ltd (that’s an entity controlled by Tinkler) and fundie Evolution Capital.
Meanwhile, EML Payments (ASX:EML) was back in the news, the happy news anyway, jumping over 12% in morning trade after political, regulatory, economic and personal issues all took a backseat to some decent numbers out of its key market of Ireland. Revenue was a beat on expectations, although guidance was less than hoped for.
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.
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| GMLDA | Gateway Mining | 0.066 | -34% | 121,590 | $2,260,106 |
| ALT | Analytica Limited | 0.001 | -33% | 2,570,879 | $6,920,702 |
| ANL | Amani Gold Ltd | 0.001 | -33% | 2,777,907 | $35,540,162 |
| MEB | Medibio Limited | 0.001 | -33% | 237,000 | $4,134,735 |
| SIH | Sihayo Gold Limited | 0.002 | -33% | 7,696,761 | $18,306,384 |
| DDD | 3D Resources Limited | 0.0015 | -25% | 1,306,966 | $8,863,744 |
| AYT | Austin Metals Ltd | 0.007 | -22% | 3,744,394 | $9,142,872 |
| LAW | Lawfinance Ltd | 0.205 | -21% | 128,650 | $16,557,039 |
| AUA | Audeara | 0.1 | -20% | 141,278 | $9,274,915 |
| ARE | Argonaut Resources | 0.002 | -20% | 1,440,000 | $9,015,512 |
| KFE | Kogi Iron Ltd | 0.004 | -20% | 229,918 | $8,087,889 |
| MGG | Mogul Games Grp Ltd | 0.002 | -20% | 833,333 | $8,158,603 |
| BPH | BPH Energy Ltd | 0.0145 | -19% | 8,805,926 | $11,969,069 |
| GRE | Greentechmetals | 0.25 | -19% | 1,043,588 | $9,696,800 |
| WCG | Webcentral Ltd | 0.21 | -19% | 3,349,713 | $86,084,126 |
| ABC | Adbri Limited | 2.21 | -17% | 7,121,666 | $1,735,989,296 |
| MTM | Mt Monger Resources | 0.16 | -16% | 904,015 | $7,126,906 |
| IS3 | I Synergy Group Ltd | 0.044 | -15% | 27,669 | $13,959,994 |
| OAU | Ora Gold Limited | 0.011 | -15% | 504,057 | $12,795,007 |
| DUN | Dundasminerals | 0.14 | -15% | 3,844 | $6,391,367 |
| LEG | Legend Mining | 0.04 | -15% | 13,116,117 | $129,491,379 |
| AHN | Athena Resources | 0.012 | -14% | 8,224,378 | $11,381,546 |
| AUK | Aumake Limited | 0.006 | -14% | 1,654,005 | $5,400,128 |
| CAV | Carnavale Resources | 0.006 | -14% | 1,453,925 | $19,029,862 |
| MTB | Mount Burgess Mining | 0.006 | -14% | 196,166 | $6,014,198 |