Rise and Shine: Everything you need to know before the ASX opens

Good morning everyone, and welcome to Friday, 10 November.

On Stockhead today…

When gold is worth around A$97 per gram, Peter Strachan reckons there is a lot of money to be made finding and producing the currency metal as interest rates appear to be topping out globally, while trade tensions and kinetic wars drive risk premiums higher. Here are a few of his ASX picks in the box seat to capitalise.

And Cam Drummond has been beating the golden drum too, and has drilled down for some deep, deep value here.

The lack of urgency from European gas buyers could reduce wholesale gas prices on Australia’s east coast as the LNG netback price – a measure of an export parity price that a gas supplier can expect to receive for exporting its gas – plays an important role in the market. But will it have any impact on long-term trends that will see demand outstrip supply from Australia’s ageing gas fields? Bevis Yeo has more.

And Josh Chiat has the next IPO you’ve all been looking for – since the last one. Yes, it’s a lithium play.

But first..

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$1,949.25 (-0.98%)

Silver: US$22.53 (-0.26%)

Nickel (3mth): US$17,912/t (-2.89%)

Copper (3mth): US$8,186.50/t (-0.63%)

Oil (WTI): US$75.77 (-2.04%)

Oil (Brent): US$79.96 (-2.02%)

Iron 62pc Fe: US$127.26/t (+1.04%)

AUD/USD: 0.6404 (-0.52%)

Bitcoin: US$35,574 (-0.42%)

WHAT GOT YOU TALKING

Venture Minerals (ASX:VMS) has identified a new, large (40km2) REE target named ‘Jupiter’ via reconnaissance drilling and geophysical surveys. Jupiter is interpreted to represent a deeply weathered alkaline intrusion beneath the extensive clay hosted REE mineralisation.

Drilling is under way at QX Resources’ (ASX:QXR) 102km2 Liberty Lithium project in California, targeting a high-value, extensive surface brine anomaly and a large conductive geophysical feature to prove up what the company believes has the potential to be a huge lithium prize.

And this:

Challenger Gold is putting together the numbers in a robust scoping study for its Hualian gold play in Argentina. https://t.co/wjy7bCGE4X #ad #ASX @CExploration

— Stockhead (@StockheadAU) November 9, 2023

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 Company Price % Volume Market Cap MGTR Magnetite Mines 0.01 233% 185,908 $62,808 MTH Mithril Resources 0.002 100% 1,994,907 $3,368,804 KTA Krakatoa Resources 0.043 65% 150,541,212 $11,307,346 BP8 Bph Global Ltd 0.0015 50% 1,256,492 $1,615,563 FG1 Flynngold 0.097 43% 5,746,710 $9,274,016 ACM Aus Critical Mineral 0.385 43% 1,592,421 $8,027,438 IMU Imugene Limited 0.11 36% 269,666,019 $580,362,964 AHN Athena Resources 0.004 33% 750,750 $3,211,403 BYH Bryah Resources Ltd 0.016 33% 727,157 $4,303,263 CT1 Constellation Tech 0.004 33% 246,667 $4,413,601 PNX PNX Metals Limited 0.004 33% 568,706 $16,141,874 SQX SQX Resources Ltd 0.135 29% 100,476 $2,625,000 RDN Raiden Resources Ltd 0.05 28% 215,081,321 $91,098,742 ZNC Zenith Minerals Ltd 0.165 27% 1,050,587 $45,809,515 EDE Eden Inv Ltd 0.0025 25% 137,094 $6,727,274 EMP Emperor Energy Ltd 0.01 25% 981,258 $2,150,900 IEC Intra Energy Corp 0.005 25% 14,213,429 $6,643,126 KPO Kalina Power Limited 0.005 25% 4,710,713 $6,060,783 MCT Metalicity Limited 0.0025 25% 2,690,569 $8,502,172 RIE Riedel Resources Ltd 0.005 25% 1,499,410 $8,237,628 TEM Tempest Minerals 0.01 25% 1,732,048 $4,091,068 PIM Pinnacleminerals 0.29 23% 2,926,116 $6,010,125 EFE Eastern Resources 0.011 22% 46,056,251 $11,177,518 AS2 Askarimetalslimited 0.17 21% 298,043 $10,752,030 BMM Balkanminingandmin 0.145 21% 348,900 $8,256,861

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Yesterday’s Small Caps highlights:

Up almost +30% at the close, Raiden Resources (ASX:RDN), one of the top ASX stocks of 2023 with +952% YTD gains, has again tapped into some more pegmatite action at its Andover South tenements in the Pilbara.

Assay results have come in from recent rock chip sampling, and “continue to indicate high potential for significant and mineralised Lithium-Tantalum-Caesium (LCT) pegmatites”.

In fact, the latest sampling yields the highest grade lithium result (3.80% Li2O) defined to date from Andover South.

And further X-Ray Diffraction (XRD) analysis confirms spodumene as the dominant lithium mineral in the sampling.

Meanwhile, Impact Minerals (ASX:IPT) announced “outstanding economics” from a scoping study showing its Lake Hope project in WA to potentially be the lowest-cost producer of high purity alumina (HPA) globally.

And clinical stage immuno-oncology small cap Imugene (ASX:IMU), run by MD Leslie Chong, has been developing a portfolio of innovative new treatments for that spectacular global growth market called cancer.

The stock jumped earlier this week, after IMU dropped a promising clinical trial update of its Phase 1 MAST (Metastatic Advanced Solid Tumours) trial evaluating the safety and efficacy of novel cancer-killing virus CF33-hNIS (VAXINIA).

YESTERDAY’S ASX SMALL CAP LAGGARDS

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Code Company Price % Volume Market Cap NRZR Neurizer Ltd 0.001 -80% 10,509,328 $638,370 CLE Cyclone Metals 0.001 -50% 21,165,123 $20,529,010 TWER Treasury Wine Estate 0.635 -35% 197,232 $74,094,469 AKM Aspire Mining Ltd 0.061 -26% 244,327 $41,626,233 NRX Noronex Limited 0.009 -25% 983,533 $4,539,621 ICG Inca Minerals Ltd 0.016 -24% 525,644 $10,340,395 SIX Sprintex Ltd 0.01 -23% 2,061,245 $4,406,974 14D 1414 Degrees Limited 0.025 -22% 521,655 $7,621,393 TG6 Tgmetalslimited 0.865 -21% 9,349,127 $44,331,695 GBZ GBM Rsources Ltd 0.015 -21% 4,280,449 $11,786,114 KZA Kazia Therapeutics 0.087 -21% 2,428,685 $25,998,431 FAU First Au Ltd 0.002 -20% 1,060,801 $3,629,983 GTG Genetic Technologies 0.002 -20% 495,209 $28,854,145 MRQ Mrg Metals Limited 0.002 -20% 1,754,565 $5,514,797 TMX Terrain Minerals 0.004 -20% 15,010,360 $6,767,139 TSL Titanium Sands Ltd 0.008 -20% 499,666 $17,718,047 YPB YPB Group Ltd 0.002 -20% 2,695,045 $1,951,154 OKJ Oakajee Corp Ltd 0.022 -19% 25,000 $2,469,043 NIS Nickelsearch 0.098 -18% 17,604,973 $19,235,679 R3D R3D Resources Ltd 0.049 -18% 75,494 $8,889,095 MHK Metalhawk. 0.195 -17% 664,060 $18,511,188 MPG Manypeaksgoldlimited 0.22 -17% 14,000 $9,639,238 FGL Frugl Group Limited 0.01 -17% 205,700 $11,472,744 H2G Greenhy2 Limited 0.01 -17% 33,793 $5,025,070 MEL Metgasco Ltd 0.01 -17% 113,870 $12,766,641

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