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Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, could a small cap resources revival be lurking just behind a tech bubble, the infant formula stocks holding their own, and the Melbourne startup trying its luck with a $47m IPO.
But first, here’s what you need to know before markets open.
The day ahead in data
Following yesterday’s rate cut, the local market will get an update on the economy this morning with the release of Q1 GDP data (11:30am AEST).
The median forecast among economists is for quarterly growth of 0.5 per cent, leaving the annual rate at a sluggish 1.8 per cent.
Looking abroad, China has non-government (Caixin) PMI data and there’s ADP employment figures out of the US — a precursor to Friday night’s all important monthly jobs figures.
Company news
There are 15 companies which are expected to come out of a trading halt or voluntary suspension in the next 48 hours:
Wednesday:
Volpara Health Technologies (ASX: VHT) – capital raising
LBT Innovations (ASX: LBT) – capital raising
Nickel Mines (ASX: NIC) – capital raising
Great Southern Mining (ASX: GSN) – acquisition of mining licenses
Dacian Gold (ASX: DCN) – production update
Alice Queen (ASX: AQX) – Joint venture proposal.
Thursday:
Arc Exploration (ASX: ARX) – capital raising
Lake Resources (ASX: LKE) – capital raising
Peel Mining (ASX: PEX) – capital raising
Cazaly Resources (ASX: CAZ) – potential project sale
Emerge Gaming (ASX: EM1) – launch of ArcadeX Platform
Elixinol Global (ASX: EXL) – capital raising
Hexagon Resources (ASX: HXG) – Joint Venture
LatAM Autos (ASX: LAA) – capital raising
Venus Metals Corp (ASX: VMC) – potential sale of interest in iron ore project.
Commodities
Gold: $US1326.32 ($1,896.64) +0.08%
Silver: $US14.82 +0.28%
Oil (Brent): $US14.82 +0.24%
Oil (WTI): $US53.03 -0.62%
Coal: $US75.58 +0.37%
Iron ore 62pc fe: $US100.50 -4.74%
AUD/USD: $US0.6993
What got you talking yesterday
Over on the Stockhead Facebook forum, group member Mark Thomas commented in response to yesterday’s biotech wrap, highlighted by Paradigm Pharmaceuticals (ASX:PAR) which said it may have a solution for the treatment of Ross River Fever.
“Amongst other things… OA also! This will be huge over the coming 12-24 months,” Thomas wrote.
Yesterday’s winners
Predictive Discovery (ASX: PDI) led the market from post to post yesterday, following the announcement of gold discovery at its Ferkessedougou North in Cote D’Ivoire. The share price rose as much as 200 per cent before closing 144 per cent higher at 2 cents.
Aurora Minerals (ASX: ARM) came along for the ride, posting a 100 per cent gain on the day courtesy of its 21.9 per cent shareholding in PDI.
Elsewhere, Clean TeQ Holdings (ASX: CLQ) rose almost 30 per cent after announcing it may divest an interest of up to 50 per cent of its Sunrise asset — a wholly-owned nickel, cobalt and scandium project in central NSW. Macquarie Capital has been appointed to run the partnering process.
| Ticker | Name | Price ($) | % Chg | Market cap |
|---|---|---|---|---|
| PDI | Predictive Discovery Ltd | 0.02 | 144% | $6.5M |
| ARM | Aurora Minerals Ltd | 0.02 | 100% | $2.6M |
| AVW | Avira Resources Ltd | 0.003 | 50% | $3.0M |
| DDD | 3D Resources Ltd | 0.0015 | 50% | $1.7M |
| NES | Nelson Resources Ltd | 0.08 | 44% | $3.6M |
| EHX | EHR Resources Ltd | 0.04 | 37% | $5.2M |
| CAE | Cannindah Resources Ltd | 0.015 | 36% | $2.7M |
| DRE | Dreadnought Resources Ltd | 0.004 | 33% | $4.4M |
| CLQ | Clean TeQ Holdings Ltd | 0.35 | 27% | $261.3M |
| DKM | Duketon Mining Ltd | 0.15 | 25% | $17.7M |
| CY5 | Cygnus Gold Ltd | 0.05 | 25% | $3.0M |
| KKL | Kollakorn Corp Ltd | 0.015 | 25% | $3.1M |
| BAS | Bass Oil Ltd | 0.0025 | 25% | $6.5M |
| SUD | Suda Pharmaceuticals Ltd | 0.005 | 25% | $12.9M |
| COB | Cobalt Blue Holdings Ltd | 0.17 | 21% | $23.0M |
| AUT | Auteco Minerals Ltd | 0.006 | 20% | $6.0M |
| BMG | BMG Resources Ltd | 0.006 | 20% | $6.7M |
| CDT | Castle Minerals Ltd | 0.006 | 20% | $1.3M |
| FTT | Factor Therapeutics Ltd | 0.006 | 20% | $6.3M |
| RXL | Rox Resources Ltd/Australia | 0.012 | 20% | $15.1M |
| SYA | Sayona Mining Ltd | 0.012 | 20% | $20.7M |
Yesterday’s losers
A number of penny-stock resources companies led the market lower, with Victory Mines (ASX: VIC), Metals Australia (ASX: MLS), Genesis Minerals (ASX: GES) and Caeneus Minerals (ASX: CAD) all losing a third of their value on no news.
| Ticker | Company | Price ($) | % Chg | Market cap |
|---|---|---|---|---|
| VIC | Victory Mines Ltd | 0.002 | -33.33% | $2.7M |
| MLS | Metals Australia Ltd | 0.001 | -33.33% | $2.7M |
| GES | Genesis Resources Ltd | 0.004 | -33.33% | $3.1M |
| CAD | Caeneus Minerals Ltd | 0.001 | -33.33% | $2.1M |
| AAU | Adcorp Australia Ltd | 0.007 | -30.00% | $3.2M |
| GTE | Great Western Exploration Ltd | 0.005 | -28.57% | $5.0M |
| EER | East Energy Resources Ltd | 0.005 | -28.57% | $16.0M |
| TNR | Torian Resources Ltd | 0.011 | -26.67% | $2.8M |
| SMI | Santana Minerals Ltd | 0.003 | -25.00% | $2.0M |
| PWN | Parkway Minerals NL | 0.003 | -25.00% | $1.8M |
| MHC | Manhattan Corp Ltd | 0.003 | -25.00% | $2.2M |
| IAM | Intiger Group Ltd | 0.003 | -25.00% | $2.5M |
| CAV | Carnavale Resources Ltd | 0.003 | -25.00% | $2.2M |
| NME | Nex Metals Exploration Ltd | 0.015 | -25.00% | $2.9M |
| QEM | QEM Ltd | 0.09 | -25.00% | $9.0M |
| NAG | Nagambie Resources Ltd | 0.03 | -23.08% | $13.1M |
| FSG | Field Solutions Holdings Ltd | 0.02 | -22.73% | $7.3M |
| MOY | Millennium Minerals Ltd | 0.08 | -22.00% | $69.5M |
| AMT | Allegra Orthopaedics Ltd | 0.08 | -21.00% | $7.9M |
