Good morning everyone, and welcome to 24 May, 2024 – an important day in the history of playing make-believes.
It was on this day in 1487 that King Edward VI was crowned in Christ Church Cathedral in Dublin, Ireland – an event that baffled King Henry VII because:
King Henry VII was already the king and had zero plans for that to change, and
Edward Plantagenet, a would-be claimant to the throne, was supposed to be locked in the Tower of London.
Henry VII knew that young Edward was locked in the tower, because Henry himself had locked him in there a couple of years earlier, under the guise of ‘taking care’ of the 10yo prince.
So you can imagine Henry VII’s surprise when “Edward” turned up in Ireland, and was crowned king.
The ruse came undone pretty quickly, and it was determined that the “new king” was another young boy by the name of Lambert Simnel, a pretender to throne operating at the behest of John de la Pole, the Earl of Lincoln and founding member of De La Pole, one of the first boy bands to exist in the UK.
De La Pole had a huge hit after winning Eurovision with an uptempo Big Beat version of Hey Nonny Nonny.
But, unsatisfied with his singing career, John de la Pole spent his free time trying to overthrow the king of England, and putting young Lambert Simnel forward as the rightful heir to the throne was a pretty brazen act.
A few days after the “coronation”, Simnel led an army of mainly Flemish and Irish troops into battle near the small village of East Stoke, Nottinghamshire, near Newark-on-Trent.
That fight became known as the Battle of Stoke Field, and it was a fight that did not go well for the would-be usurper, largely because he brought 8,000 soldiers to take on 12,000 of King Henry’s finest – a move that most historians agree was “really dumb”.
Simnel was captured, and his claim of being the missing Prince Edward was disproven through one of the earliest known uses of rudimentary “DNA technology”, thanks to local scientists who examined the boy and reported “he don’t look nuffin’ like the real Edward” and “oi! What kind of game are you lot playing at?”
In a rare moment of sanity, Henry VII realised that Simnel was very much just a pawn in the entire endeavour, and chose to spare the young boy’s life.
Rather than beheading him, Henry gave Simnel a job in the royal kitchen as a “spit turner”, where he spent many years spitting on the king’s food.
In time, Simnel grew older and eventually ran out of saliva, prompting Henry to send him to TAFE where he would learn the local trade of Falconry, allowing the would-be king to see out his days as a mechanic.
Happily, you don’t have to pretend to be the King of England to trick us into setting you up for your day ahead – all you need to do is read on, as our team has been typing their little fingers down to rough, bloody nubs all day.
It’s been worth it, though – Bevis has done a deep dive into the recently released CSIRO 2023-24 GenCost report, and Christian’s got the coolest name in asset management, Romano Sala Tenna, to tell us why coal’s still cool AF.
And I’ve barely had enough hours in the day, but still made time to pull together all the bits and bobs and data and digits below, so you can look super-duper-smart in front of your mates when the market opens this morning.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,362.92 (-0.64%)
Silver: US$30.38 (-1.23%)
Nickel (3mth): US$20,031/t (-1.46%)
Copper (3mth): US$10,074.29/t (-3.57%)
Zinc: US$3,028.78/t (-1.85%)
Oil (WTI): US$77.43 (-0.31%)
Oil (Brent): US$81.45 (-0.54%)
Iron 62pc Fe: US$117.64/t (+0.06%)
AUD/USD: 0.6622 (+0.05%)
Bitcoin: US$69,492.00 (+0.55%)
WHAT GOT YOU TALKING
If you need to know what’s happening in the big, bad world of Resources, who better to ask than an obvious glutton with a money-eating fetish?
The biggest #ASX #resources #stocks winners in early trade, Thursday May 23.
@StrategicEnerg2 ( $SER )
@rarex_asx ( $REE )
@kalgoorliegold ( $KAL )
@CazalyLimited ( $CAZ )
@Strickland_STK ( $STK ) https://t.co/V4LEethHD1
— Stockhead (@StockheadAU) May 23, 2024
YESTERDAY’S ASX SMALL CAP LEADERS
Here are the best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Name Price % Change Volume Market Cap SER Strategic Energy 0.017 42% 43,680,299 $5,829,782 REE Rarex Limited 0.021 41% 16,062,184 $9,909,105 ECT Env Clean Tech Ltd. 0.004 33% 308,376 $9,515,431 JAV Javelin Minerals Ltd 0.002 33% 250,491 $3,264,346 PKO Peako Limited 0.004 33% 125,000 $1,581,254 IEC Intra Energy Corp 0.003 25% 1,002,133 $3,381,563 YAR Yari Minerals Ltd 0.005 25% 1,058,165 $1,929,431 BEX Bikeexchange Ltd 0.380 25% 56,563 $6,154,839 KAL Kalgoorliegoldmining 0.033 22% 10,898,153 $4,279,519 PTR Petratherm Ltd 0.028 22% 398,922 $5,169,276 E33 East 33 Limited. 0.017 21% 142,600 $10,852,575 CAZ Cazaly Resources 0.029 21% 20,514,017 $10,911,272 AEV Avenira Limited 0.006 20% 1,464,470 $11,745,170 BCT Bluechiip Limited 0.006 20% 10,339 $5,503,834 CRB Carbine Resources 0.006 20% 86,286 $2,758,689 MOM Moab Minerals Ltd 0.006 20% 200,000 $3,559,815 PEC Perpetual Res Ltd 0.020 18% 10,129,570 $10,880,500 EMU EMU NL 0.034 17% 208,334 $1,957,296 EQN Equinoxresources 0.375 17% 446,947 $39,520,001 CDT Castle Minerals 0.007 17% 5,298,154 $7,346,958 RNE Renu Energy Ltd 0.007 17% 545,513 $4,356,804 SHP South Harz Potash 0.014 17% 5,117,891 $9,926,220 TMX Terrain Minerals 0.004 17% 100,000 $4,295,012 IRD Iron Road Ltd 0.095 16% 343,804 $67,737,246
Yesterday’s Small Cap Winners included:
Strategic Energy Resources (ASX:SER) announced that it has raised $2m via placement to explore the Achilles 1 polymetallic prospect in the South Cobar Basin. The placement, done at a small 8.3% discount to the last traded price, is cornerstoned by Datt Capital and Lowell Resources Fund (ASX:LRT). The company notes that the funds raised will also be used to explore SER’s broader South Cobar Project along with advancing SER’s other exploration assets and general working capital. Another piece of news highlighted by the company is that Tony Gu, Datt Capital’s partner and head of research, has been appointed to the SER board as a non-executive director.
Niobium is having something of a moment this week, and RareX (ASX:REE) has acquired the district-scale Khaleesi project in WA’s Eastern Yilgarn region where historical drilling had returned elevated levels of niobium. It comes after the completion of successful $1.5m, internally brokered, capital raise. That news has pushed up the share price of the rare earths explorer/developer by an eye-catching 44% at time of writing. The acquisition has been dubbed the Khaleesi Project and is located along strike from the “highly endowed” Ponton Dyke deposit (most recently held by Galaxy Resources (ASX:GXY), since merged with Orocobre (ASX:ORE)), which has reportedly returned some of Australia’s best rare earth intersections – up to 28m at 10% total rare earth oxides (TREO) including 6m at 20.57% TREO.
Kalgoorlie Gold Mining (ASX:KAL) was up today on its fresh discovery of extensive, thick gold mineralisation and anomalism at its Wessex target at the Pinjin project, following the first pass aircore drill program. New intercepts include: 28m at 1.27g/t Au from 36m, and 12m at 1.17g/t Au from 52m. Pinjin is situated at the southern end of the Pinjin Goldfield and is about 140 km northeast of Kalgoorlie–Boulder.
Cazaly Resources (ASX:CAZ) was up on no news, but a hell of a lot of trading volume. Not sure entirely, or at all, actually, what’s going with CAZ today to back up this rise, however.
And… Sun Silver (ASX:SS1) is preparing to carry out drilling at its Maverick Springs project in Elko County, Nevada, with three local contractors tendering for the drill contract. The drilling will upgrade the classification of the current inferred resource of 292Moz at 72.4 g/t and test expansional opportunities.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are the worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Name Price % Change Volume Market Cap ME1 Melodiol Glb Health 0.002 -33% 257,285 $2,140,462 EDE Eden Inv Ltd 0.002 -25% 6,001,943 $7,356,542 NAE New Age Exploration 0.003 -25% 4,000,000 $7,175,596 TSL Titanium Sands Ltd 0.006 -21% 703,510 $15,482,230 EXL Elixinol Wellness 0.004 -20% 200,275 $6,505,370 MCT Metalicity Limited 0.002 -20% 470,000 $11,212,737 PUR Pursuit Minerals 0.004 -20% 100,799 $14,719,857 SIT Site Group Int Ltd 0.002 -20% 50,000 $6,506,226 IND Industrialminerals 0.200 -18% 191,134 $16,846,200 88E 88 Energy Ltd 0.003 -17% 322,635,037 $86,678,016 ATH Alterity Therap Ltd 0.005 -17% 109,000 $31,470,692 BUY Bounty Oil & Gas NL 0.005 -17% 450,000 $8,991,006 GBZ GBM Rsources Ltd 0.010 -17% 498,750 $13,880,267 MTL Mantle Minerals Ltd 0.003 -17% 2,819,137 $18,592,338 APL Associate Global 0.105 -16% 67,757 $7,061,553 MEG Megado Minerals Ltd 0.011 -15% 915,935 $3,307,922 HTG Harvest Tech Grp Ltd 0.018 -14% 35,991 $17,049,015 CLZ Classic Min Ltd 0.006 -14% 1,981,658 $2,348,987 GMN Gold Mountain Ltd 0.003 -14% 292,373 $10,414,270 LPD Lepidico Ltd 0.003 -14% 4,271,460 $30,061,918 BEO Beonic Ltd 0.025 -14% 25,000 $12,310,353 G11 G11 Resources Ltd 0.039 -13% 1,281,065 $33,710,495 KLI Killiresources 0.039 -13% 1,255,876 $4,510,068 BGE Bridgesaaslimited 0.020 -13% 16,401 $2,746,132 ERL Empire Resources 0.004 -13% 2,050,000 $5,935,653
TRADING HALTS
Australian Vintage (ASX:AVG) – pending an announcement to ASX regarding a Company update including an update on trading.
True North Copper (ASX:TNC) – pending an announcement to ASX regarding a proposed capital raising.
Neuren Pharmaceuticals (ASX:NEU) – pending an analysis of data and an announcement by the Company in relation to the top line results of its Phase 2 clinical trial in Pitt Hopkins.
Summit Minerals (ASX:SUM) – pending an announcement by Summit in relation to a capital raise.
The post Rise and Shine: Everything you need to know before the ASX opens appeared first on Stockhead.
