On Stockhead today, tech stocks have been frappé’d pretty bad in ’22, but buying banks is de rigueur , so our Eddy Sunarto asks: if it’s the fin for Fintech why does it feel like the fun is just starting? And, well, ’tis the season – so Saxo is back with the annual pre-Xmas 10 Outrageous Predictions for the coming year.
But first … the day ahead.
And there’s suddenly a lot more runs on the Board at Mineral Resources (ASX:MIN) this morning, after selecting former Australian test cricket gun, ex-grouchy national coach and awesomely proud West Australian, Justin Langer AM, to open a new innings on the MinRes Board as an Independent Non-Executive Director from 1 January 2023, when the New Year’s test for the Aussie digger begins.
MinRes’ Chairman, James McClements reckons finding a ‘breadth of expertise and knowledge’ is among the keys to the company’s success. Langer certainly has at least one of those.
“Justin’s outstanding leadership experience will further enhance our focus on people and culture, which is critical… the Board is now well-equipped to address the opportunities that lay ahead for our business.”
TRADING HALTS
The following company went into trading halts yesterday and is expected out in the next few days:
RMA Global (ASX:RMY) – Capital Raise.
Global Lithium Resources (ASX:GL1) – Resource update for the Manna and Marble Bar Lithium Projects.
Strike Resources (ASX:SRK) – Capital Raise.
Caprice Resources (ASX:CRS) – Acquisition and Capital Raise.
Nex Metals Exploration (ASX:NME) – Pending announcement with respect to review of responses by Nex to the ASX.
Intra Energy Corporation (ASX:IEC) – Capital Raise.
COMMODITY/ FOREX/ CRYPTO MARKET PRICES
Gold: $US1,809.04 (-0.07%)
Silver: $US23.692 (-0.15%)
Nickel (3mth): $US28,287/t
Copper (3mth): $US8,497/t
Lithium Carbonate, China (Benchmark Minerals Intelligence, DEC 7): $US81,375/t (+0.0% weekly, +127.6% year-to-date)
Lithium Hydroxide, China (Benchmark Minerals Intelligence, DEC 7): $US80,725/t (+0.0% weekly, +171.4% year-to-date)
Oil (WTI): $US75.294 (-0.13%)
Oil (Brent): $US80.400 (-0.35%)
Iron 62pc Fe: $US110.50 (-2.64%)
AUD/USD: 0.68518 (-0.03%)
Bitcoin: $US17,793.04 (+3.78%)
WHAT GOT YOU TALKING YESTERDAY?
All eyes were on ASX battery metals stocks in Chile:
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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.
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 |
|---|---|---|---|---|---|
| MEB | Medibio Limited | 0.002 | 100% | 2,102,991 | $3,320,594 |
| PUR | Pursuit Minerals | 0.019 | 58% | 79,884,184 | $11,978,150 |
| ARE | Argonaut Resources | 0.002 | 33% | 513,590 | $9,542,807 |
| PXX | Polarx Limited | 0.013 | 30% | 18,120,427 | $10,563,663 |
| TKL | Traka Resources | 0.009 | 29% | 1,888,277 | $4,821,422 |
| AMD | Arrow Minerals | 0.005 | 25% | 480,000 | $8,135,060 |
| PNX | PNX Metals Limited | 0.005 | 25% | 2,000,399 | $17,776,231 |
| ROG | Red Sky Energy. | 0.005 | 25% | 469,056 | $21,208,909 |
| HXL | Hexima | 0.023 | 21% | 283,125 | $3,173,753 |
| B4P | Beforepay Group | 0.48 | 20% | 99,497 | $13,931,687 |
| PAB | Patrys Limited | 0.031 | 19% | 21,589,385 | $53,481,994 |
| NGS | NGS Ltd | 0.05 | 19% | 130,893 | $6,228,913 |
| ARU | Arafura Rare Earths | 0.5275 | 19% | 33,922,803 | $884,019,973 |
| PGM | Platina Resources | 0.02 | 18% | 1,071,469 | $10,594,066 |
| AQI | Alicanto Min Ltd | 0.055 | 17% | 207,606 | $20,901,540 |
| ATU | Atrum Coal Ltd | 0.007 | 17% | 578,203 | $8,350,195 |
| AVW | Avira Resources Ltd | 0.0035 | 17% | 150,000 | $6,401,370 |
| CRB | Carbine Resources | 0.014 | 17% | 186,000 | $3,783,306 |
| MOB | Mobilicom Ltd | 0.007 | 17% | 468,533 | $7,987,678 |
| MKL | Mighty Kingdom Ltd | 0.029 | 16% | 872,167 | $3,853,570 |
| CLT | Cellnet Group | 0.03 | 15% | 33,666 | $6,333,460 |
| FHS | Freehill Mining Ltd. | 0.008 | 14% | 662,499 | $13,487,942 |
| HVY | Heavymineralslimited | 0.12 | 14% | 42,382 | $4,051,452 |
| W2V | Way2Vatltd | 0.024 | 14% | 337,458 | $3,734,728 |
The biggest winner was Pursuit Minerals (ASX:PUR) following an agreement to acquire Argentina-focused lithium company, Trilogy Minerals.
Trilogy holds the rights to acquire over 9,233ha at the Rio Grande Sur Project, which hosts an inferred resource of 2.1Mt LCE at an average grade of 370mg/Li to a depth of 100m.
It is currently in the process of undertaking a capital raising through the issue of convertible notes to raise $8m which will complete prior to the end of December 2022.
Funds raised through the Trilogy Class B Notes will be used to exercise options over tenements 1, 2 3 and 4 and these tenements will be owned prior to settlement of the acquisition with Pursuit.
Pursuit managing director Bob Affleck says the acquisition creates a clear de-risked pathway to potential project development.
“The acquisition of Trilogy will see Pursuit expand its operations to become an emerging lithium exploration company with resources in a highly prospective lithium-rich region,” he said.
“With lithium prices in excess of $85,000 a tonne, Pursuit is well placed to take advantage of one of the world’s most sought-after battery minerals.”
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 |
|---|---|---|---|---|---|
| TD1 | Tali Digital Limited | 0.002 | -33% | 19,339,860 | $4,252,575 |
| TAR | Taruga Minerals | 0.027 | -23% | 13,774,954 | $24,429,687 |
| IMB | Intelligent Monitor | 0.13 | -21% | 81,802 | $21,565,549 |
| AQX | Alice Queen Ltd | 0.002 | -20% | 250,000 | $5,500,625 |
| IRX | Inhalerx Limited | 0.053 | -20% | 211,480 | $12,359,619 |
| LER | Leaf Res Ltd | 0.017 | -19% | 970,447 | $24,277,739 |
| MBX | Myfoodieboxlimited | 0.031 | -18% | 408,839 | $1,273,000 |
| LNR | Lanthanein Resources | 0.024 | -17% | 48,939,126 | $27,921,942 |
| CHK | Cohiba Min Ltd | 0.005 | -17% | 5,610,000 | $9,765,965 |
| EDE | Eden Inv Ltd | 0.005 | -17% | 120,537 | $16,267,374 |
| MTL | Mantle Minerals Ltd | 0.0025 | -17% | 2,980,515 | $16,036,815 |
| RR1 | Reach Resources Ltd | 0.005 | -17% | 35,680,725 | $11,460,304 |
| LAW | Lawfinance Ltd | 0.056 | -16% | 254,213 | $4,279,133 |
| GCX | GCX Metals Limited | 0.038 | -16% | 13,500 | $8,360,041 |
| BUS | Bubalusresources | 0.17 | -15% | 94,125 | $5,409,235 |
| NRX | Noronex Limited | 0.029 | -15% | 2,989,426 | $8,122,702 |
| HYT | Hyterra Ltd | 0.018 | -14% | 4,951,204 | $10,113,572 |
| TMH | The Market Herald | 0.36 | -14% | 16,300 | $115,100,164 |
| ATM | Aneka Tambang | 0.9 | -14% | 1,011 | $1,368,831 |
| BUR | Burleyminerals | 0.24 | -14% | 162,003 | $9,610,454 |
| MTH | Mithril Resources | 0.003 | -14% | 500,000 | $11,420,816 |
| VGL | Vista Group Int Ltd | 1.245 | -14% | 3,233 | $335,796,614 |
| BVR | Bellavistaresources | 0.225 | -13% | 474,022 | $9,489,353 |
| HRE | Heavy Rare Earths | 0.13 | -13% | 359,299 | $8,923,190 |
| MAY | Melbana Energy Ltd | 0.06 | -13% | 25,007,671 | $232,544,083 |