On Stockhead today, why Australia’s rare earths industry needs its own Elon Musk, Swift’s new CEO on her plan for stemming the company’s share price bleed and the Secret Broker’s tale on an unusually morbid discovery in a gold mine.
But first:
The day ahead
Local markets will get an update from the RBA on private sector credit, which is expected to show growth in mortgage lending remained sluggish last month either side of the election.
Overseas, key data will be led by US PCE inflation figures for May later tonight. Annual core inflation growth is forecast to remain sluggish at just 1.6 per cent, but Westpac analysts said “this weakness is expected to be transitory”.
Company news
The following companies are scheduled to come out of a trading halt or voluntary suspension over the next two trading sessions:
Friday:
Jervois Mining (ASX: JRV) – capital raising
Triton Minerals (ASX: TON) – capital raising and partnership
Rumble Resources (ASX: RTR) – results
Sun Resources (ASX: SUR) – capital raising
Monday:
Ausmex Mining (ASX: AMG) – exploration results
Titan Minerals (ASX: TTM) – acquisition
Atmos (ASX: AMS) – capital raising
Invictus Energy (ASX: IVZ) – update to resource estimate
Moho Resources (ASX: MOH) – results
Vimy Resources (ASX: VMY) – capital raising
Calima Energy (ASX: CE1) – capital raising
Adacel Technologies (ASX: ADA) – trading update
Onevue Holdings (ASX: OVH) – sale of Trustee Services
Markets
Gold: $US1409.17 ($2,011.46) -0.17%
Silver: $US15.25 -0.55%
Oil (Brent): $US65.46 -0.11%
Oil (WTI): $US59.36 -0.12%
Coal: $US69.50 -0.57%
Iron ore 62pc fe: $US118.02 +0.3%
AUD/USD: $US0.7006 -0.04%
What got you talking yesterday
Over on Stockhead’s Facebook micro caps page, our senior journalist Rachel Williamson provided an update on what might be driving the latest surge in Bitcoin prices.
But group member Jack Dimovski was unconvinced: “It will fall again. Maybe even lower,” Dimovski wrote.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Thursday, June 27:
Yesterday’s winners
It was a strong winners list yesterday, with no less than 22 stocks posting gains of at least 30 per cent.
Resources stocks led the way, with Discovery Africa (ASX: DAF) doubling up to 1.4 cents after releasing a market update the previous evening.
The company said ongoing legal proceedings against four previous directors had been resolved “with no admission of liability, by a payment to the company of $2m (within 28 days) and mutual releases between all parties”.
The company said it would also undertake a private share placement to raise $100k at 1c per share.
And PNX Metals (ASX: PNX) also performed strongly, with assay results from the recent diamond drilling program at its Hayes Creek zinc-gold-silver project showing “massive sulphide mineralisation” zones.
Here are the best performing ASX small cap stocks for Thursday, June 27:
| Ticker | Name | Price | % Chg | Volume | Market Cap |
|---|---|---|---|---|---|
| AJC | Acacia Coal Ltd | 0.002 | +100.00% | 600.0k | $8.1M |
| DAF | Discovery Africa Ltd | 0.014 | +100.00% | 595.8k | $2.6M |
| OAU | Ora Gold Ltd | 0.014 | +75.00% | 2.8M | $9.0M |
| PNX | PNX METALS Ltd | 0.008 | +60.00% | 145.9M | $19.5M |
| SOP | Synertec Corp Ltd | 0.04 | +57.14% | 80.0k | $9.7M |
| MAU | Magnetic Resources NL | 0.2 | +53.85% | 70.0k | $80.8M |
| AGE | Alligator Energy Ltd | 0.003 | +50.00% | 250.0k | $3.0M |
| EMP | Emperor Energy Ltd | 0.003 | +50.00% | 11.0M | $3.4M |
| IAM | Intiger Group Ltd | 0.0015 | +50.00% | 2.2M | $2.5M |
| KGM | KalNorth Gold Mines Ltd | 0.006 | +50.00% | 138.0k | $5.4M |
| TMX | Terrain Minerals Ltd | 0.003 | +50.00% | 3.4M | $1.9M |
| XST | XState Resources Ltd | 0.003 | +50.00% | 1.3M | $3.4M |
| IP1 | Integrated Payment Technologie | 0.02 | +46.67% | 3.8M | $6.8M |
| NGY | NuEnergy Gas Ltd | 0.007 | +40.00% | 405.0k | $10.4M |
| DRE | Dreadnought Resources Ltd | 0.004 | +33.33% | 1.9M | $4.4M |
| LCY | Legacy Iron Ore Ltd | 0.004 | +33.33% | 171.9k | $5.9M |
| MLS | Metals Australia Ltd | 0.002 | +33.33% | 1.4M | $5.9M |
| RFN | Reffind Ltd | 0.004 | +33.33% | 2.7M | $2.1M |
| SBR | Sabre Resources Ltd | 0.004 | +33.33% | 1.3M | $1.6M |
| MGL | Magontec Ltd | 0.03 | +32.00% | 21.0k | $37.6M |
| BUB | Bubs Australia Ltd | 1.23 | +31.72% | 28.6M | $624.2M |
| SW1 | Swift Media Ltd | 0.21 | +31.25% | 434.9k | $32.3M |
Yesterday’s losers
The opposite site of the ledger was also a resources story, with the usual round of junior explorer penny stocks ticking lower to post large percentage falls.
Declines were led by Global Vanadium (ASX: GLV), which lost half of its value on no news to fall to 0.1c.
These were the worst performing ASX small cap stocks for Thursday, June 27:
| Ticker | Company | Price ($) | % Chg | Volume | Market Cap |
|---|---|---|---|---|---|
| GLV | Global Vanadium Ltd | 0.001 | -50.00% | 2.5M | $2.8M |
| RIM | Rimfire Pacific Mining NL | 0.002 | -33.33% | 1.9M | $2.1M |
| PCL | Pancontinental Oil & Gas NL | 0.001 | -33.33% | 1.3M | $5.4M |
| DDD | 3D Resources Ltd | 0.001 | -33.33% | 150.0k | $1.1M |
| RD1 | Registry Direct Ltd | 0.02 | -32.00% | 7.8k | $2.2M |
| PUR | Pursuit Minerals Ltd | 0.011 | -31.25% | 20.7M | $2.0M |
| MHC | Manhattan Corp Ltd | 0.003 | -25.00% | 514.0k | $2.2M |
| FE8 | Faster Enterprises Ltd | 0.012 | -25.00% | 10.0k | $1.3M |
| AKN | Auking Mining Ltd | 0.0015 | -25.00% | 156.0k | $1.4M |
| MBK | Metal Bank Ltd | 0.007 | -22.22% | 131.4k | $6.2M |
| JJF | Jiajiafu Modern Agriculture Ltd | 0.04 | -20.00% | 10.0k | $3.4M |
| VAL | Valor Resources Ltd | 0.004 | -20.00% | 3.8M | $7.6M |
| UNL | United Networks Ltd | 0.008 | -20.00% | 3.7M | $1.0M |
| SYT | Syntonic Ltd | 0.002 | -20.00% | 969.7k | $6.6M |
| QGL | Quantum Graphite Ltd | 0.002 | -20.00% | 337.5k | $15.3M |
| NEW | Norwest Energy NL | 0.002 | -20.00% | 1.9M | $6.8M |
| EPM | Eclipse Uranium Ltd | 0.002 | -20.00% | 2.4M | $2.3M |
| DTM | Dart Mining NL | 0.004 | -20.00% | 490.0k | $4.0M |
| CZN | Corazon Mining Ltd | 0.002 | -20.00% | 2.6M | $2.8M |
| IS3 | I Synergy Group Ltd | 0.2 | -18.00% | 17.3k | $37.5M |