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Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, smart answers to dumb questions about NFTs, Lunnon’s bid for historic nickel glory, and why lithium will slump in 2023.
But first … the day ahead.
TRADING HALTS
The following companies went into trading halts yesterday and are expected out in the next few days:
Musgrave Minerals (ASX:MGV) – Capital raise
EP&T Global (ASX:EPX) – Capital raise
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1,736.55(-0.21%)
Silver: $US20.991(-042%)
Nickel (3mth): $US26,022/t
Copper (3mth): $US8,013/t
Lithium Carbonate, China (Benchmark Minerals Intelligence, NOV 16): $US77,900/t (+0.7% weekly, +127.4% year-to-date)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, NOV 16): $US77,275/t (+0.7% weekly, +171.2% year-to-date)
Oil (WTI): $US80.690 (-0.32%)
Oil (Brent): $US88.199 (-0.18%)
Iron 62pc Fe: $US97.00 (-0.51%)
AUD/USD: 0.66430 (-0.08%)
Bitcoin: $US16,507.22 (+4.28%)
WHAT GOT YOU TALKING YESTERDAY?
A bunch of readers have already voted in our poll – make sure you don’t miss out.
Which metals/commodities will perform best in 2023?
— Stockhead (@StockheadAU) November 22, 2022
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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 CDR Codrus Minerals Ltd 0.14 103% 23,124,155 $2,760,000 BSA BSA Limited 0.074 54% 5,465,155 $27,459,205 CCE Carnegie Cln Energy 0.002 33% 118,459,984 $23,463,861 GGX Gas2Grid Limited 0.002 33% 2,551,008 $6,087,153 PRM Prominence Energy 0.002 33% 1,201,000 $3,636,913 MMC Mitre Mining 0.22 29% 5,655,865 $4,604,467 CML Chase Mining Limited 0.018 29% 11,471,963 $13,600,701 AXP AXP Energy Ltd 0.005 25% 5,477,475 $23,298,723 IMI Infinity Mining 0.36 24% 593,083 $18,304,438 PSC Prospect Res Ltd 0.1675 24% 6,396,498 $62,405,027 OLY Olympio Metals Ltd 0.185 23% 83,370 $5,710,728 DKM Duketon Mining 0.38 23% 658,776 $37,830,985 GRV Greenvale Mining Ltd 0.076 23% 342,125 $26,146,777 BOD BOD Australia 0.145 21% 333,673 $18,149,579 LRD Lord Resources 0.28 19% 2,426,405 $7,821,886 HAR Haranga Resources 0.17 17% 3,057 $6,063,033 MCT Metalicity Limited 0.0035 17% 4,751,883 $10,476,118 TMX Terrain Minerals 0.007 17% 2,334,402 $4,564,566 GSM Golden State Mining 0.057 16% 1,293,912 $5,733,696 FLX Felix Group 0.145 16% 37,960 $16,597,972 SIX Sprintex Ltd 0.03 15% 264,785 $6,613,213 ATR Astron Corp Ltd 0.645 15% 6,196 $72,072,981 99L 99 Loyalty Ltd. 0.016 14% 326,610 $16,235,559 AYT Austin Metals Ltd 0.008 14% 3,474,008 $7,111,123 CAD Caeneus Minerals 0.004 14% 1,765,830 $18,709,618
Gold explorer Codrus Minerals (ASX:CDR) was leading the pack after buying into a niobium-rich rare earths project called Karloning in the WA wheatbelt.
Popularised by WA1 Resources’ (ASX:WA1) recent discovery on the WA/NT border, niobium is mainly used to make steel better, but also has growing uses in lithium-ion batteries, intelligent glass, solar panels, 5G tech, and nuclear energy.
Ferroniobium metal (65% Nb) sells for ~US$45,000/t.
CDR has inked a deal to earn up to 90% of Karloning, where a large 1.5km long and 200m wide pegmatite has been shown to host niobium alongside magnet REEs like dysprosium, neodymium, terbium, and praseodymium.
Early-stage rock/soil sampling returned highly anomalous REEs and +5000ppm (0.5%) niobium.
(Because 5000ppm is the detection limit of the tech used, assays are awaited for exact numbers, which will probs be higher.)
“We believe the pegmatite has significant scale, and grab sampling has returned impressive grades of the four key REEs required in the manufacture of permanent rare earth magnets,” MD Shannan Bamforth says.
“This is a walk-up exploration opportunity, and we are looking forward to getting on the ground as soon as possible to commence initial exploration activities with a view to firming up targets for drilling in early 2023.”
Initial work programs at the site include soil sampling and either drone or ground magnetics and ground radiometric surveys “as a priority”.
The results of these surveys will underpin the maiden drilling program, planned for Q1 CY2023.
BSA (ASX:BSA) is selling off its APS Maintain business to NYSE-listed Fortune 150 mob CBRE Group, for a smart $20 million.
The company says the transaction will enable it to focus on the telecommunication, utility and major fire construction sectors.
“The business has a leading position and remains committed to successfully delivering work for key clients including nbn, Foxtel, and tier one contractors,” BSA said.
“The Australian and New Zealand outsourced telecommunications services market is expected to grow at over 6% CAGR from FY22-261 to A$11.8bn, with BSA well placed to pursue significant growth opportunities in such services following the divestment.”
Mitre Mining (ASX:MMC) announced it’s buying the East Pilbara Lithium and Mount Alexander Lithium Projects.
The East Pilbara project has known pegmatite outcropping and high priority untested lithium stream sediment anomalies, the company says.
The unexplored Mount Alexander project is in the Mt Ida district near Red Dirt (ASX:RDT), Zenith Minerals (ASX:ZNC), and St George Mining (ASX:SGQ).
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 CRB Carbine Resources 0.01 -29% 5,400 $4,413,857 TSC Twenty Seven Co. Ltd 0.0015 -25% 984,935 $10,643,256 EOF Ecofibre Limited 0.335 -22% 117,960 $150,162,257 BIM Bindi Metals 0.19 -21% 833,830 $6,426,600 YPB YPB Group Ltd 0.004 -20% 1,622,584 $2,032,731 GBE Globe Metals & Mining 0.071 -18% 578,223 $41,961,843 MFB My Food Bag Grp Ltd 0.5 -17% 22,512 $145,462,514 FAU First Au Ltd 0.005 -17% 1,114,400 $5,711,960 ICN Icon Energy Limited 0.005 -17% 1,098,509 $4,608,082 RMX Red Mount Min Ltd 0.005 -17% 682,356 $9,854,183 CPH Creso Pharma Ltd 0.023 -15% 24,031,995 $49,570,843 CPT Cipherpoint Limited 0.006 -14% 12,991,807 $5,804,143 DCX Discovex Res Ltd 0.003 -14% 4,699,582 $11,558,988 M2M Mt Malcolm Mines NL 0.078 -14% 50,000 $5,667,116 OAU Ora Gold Limited 0.006 -14% 1,600 $6,889,619 TKL Traka Resources 0.006 -14% 664,304 $4,821,422 HRN Horizon Gold Ltd 0.28 -14% 7,793 $40,684,033 SLS Solsticeminerals 0.16 -14% 26,552 $18,553,060 SIO Simonds Grp Ltd 0.13 -13% 6,660 $22,085,140 AOU Auroch Minerals Ltd 0.052 -13% 1,417,502 $22,266,708 PKD Parkd Ltd 0.02 -13% 210,040 $2,304,603 L1M Lightning Minerals 0.205 -13% 3,557,775 $8,758,744 RC1 Redcastle Resources 0.014 -13% 4,732,219 $4,572,546 EQX Equatorial Res Ltd 0.175 -13% 37,066 $25,189,071 ICL Iceni Gold 0.105 -13% 2,178,686 $15,383,571
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