Good morning everyone, and welcome to 16 July, 2024. Also known as World Snake Day.
With more than 3,450 species of much-maligned, misunderstood serpent on the planet, and absolute shedloads of them in Australia, there’s a you-beaut danger noodle for just about everyone.
If snakes aren’t your speed, though, you might want to get around World Guinea Pig Appreciation Day, which also happens to be today.
We had a guinea pig we named Bob once upon a time. He liked to nestle in with some cushions at the back of the couch. One day, Grandma sat on Bob, who was advancing in years himself, breaking several of his 258 bones (they have more than humans). Bob let out a pitiful, mournful, muffled squeak before succumbing to his desperate, suffocating, slowly agonising, pastel-flower-dress-enclosed fate. Tragically, a true story. (Possibly, it was handed down to me by my brother.)
Here’s some more truth, courtesy of global markets and the ASX this morning…
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,419.33 (-0.36%)
Silver: US$30.76 (-0.04%)
Nickel (3mth): US$16,856/t (+0.28%)
Copper (3mth): US$9,863/t (-0.14%)
Zinc: US$2,963/t (-0.68%)
Oil (WTI): US$81.97 (-0.29%)
Oil (Brent): US$84.82 (-0.25%)
Iron 62pc Fe: US$109.58/t (0%)
AUD/USD: 0.677 (+0.05%)
Bitcoin: US$62,729 (+2.90%)
WHAT GOT YOU TALKING
Everyone’s favourite commod right now. That’s right – Nb. If you know you niobium.
#Niobium has practically been rubber-stamped to spark a new wave of tech advances and #ASX juniors are on the hunt. https://t.co/ccyqsCD3y0
— Stockhead (@StockheadAU) July 14, 2024
MONDAY’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 1TT Thrive Tribe Tech 0.003 50% 21,741,298 $941,243 APC Aust Potash Ltd 0.002 50% 1,014,500 $4,020,189 AVE Avecho Biotech Ltd 0.003 50% 1,509,724 $6,338,594 ARN Aldoro Resources 0.105 48% 4,911,568 $9,558,286 MDI Middle Island Res 0.024 41% 8,091,654 $3,703,518 DOU Douugh Limited 0.004 33% 59,518 $3,246,207 RFT Rectifier Technolog 0.008 33% 1,924,782 $8,291,904 SFG Seafarms Group Ltd 0.004 33% 1,280,372 $14,509,798 TIG Tigers Realm Coal 0.004 33% 1,708,240 $39,200,107 RWD Reward Minerals Ltd 0.060 33% 45,412 $10,253,391 MXO Motio Ltd 0.022 29% 7,464,578 $4,559,372 AI1 Adisyn Ltd 0.035 25% 3,887,727 $5,183,696 RGL Riversgold 0.008 25% 31,486,232 $7,257,461 SNS Sensen Networks Ltd 0.025 25% 24,250 $15,558,175 EEL Enrg Elements Ltd 0.003 25% 79,570 $2,019,930 HLX Helix Resources 0.003 25% 933,333 $6,528,387 LPD Lepidico Ltd 0.003 25% 717,282 $17,178,239 MCT Metalicity Limited 0.003 25% 15,245,631 $8,971,705 VRC Volt Resources Ltd 0.005 25% 5,844,937 $16,634,713 ICR Intelicare Holdings 0.021 24% 905,887 $4,946,994 3DP Pointerra Limited 0.077 22% 8,886,605 $50,719,838 I88 Infini Resources Ltd 0.900 22% 3,002,549 $28,107,661 GIB Gibb River Diamonds 0.045 22% 45,000 $7,825,849 HCT Holista CollTech Ltd 0.006 20% 36,504 $1,394,000 CY5 Cygnus Metals Ltd 0.051 19% 1,989,865 $12,614,443
Small Cap Winners included:
Aldoro Resources (ASX:ARN) reported fresh metallurgical test work has returned open-cycle niobium (yep, told you – see above) recovery level of 62.4% “on a selected Kameelburg sample”.
Those are numbers in line with recovery levels by developing mining explorers and producers in the global niobium space. Good news.
ARN says the processes resulted in an upgrade of the head feed of 0.74% Nb2O5 to 5.5% Nb2O5, “a multiple of 10.6 times with a 62.4% recovery rate of Nb2O5.” The digger says recovery rate and upgrade values are considered encouraging in the initial test phase.
“The forward process will focus on a finer grind and micro floatation to increase the grade and recovery further.”
Our Cam Drummond says, if this stock wasn’t on your niobium radar, its 54% morning bump in stock price this morning “could make you sit up and take notice.”
The explorer says the results have boosted its confidence ahead of maiden drilling that’s targeting rich niobium dykes across the tenure.
Prep for a diamond drill rig and relevant personnel are advancing, with the initial drill program targeted to commence at the end of Q3, subject to regulatory approvals.
Shares went galactic on the news, up 54.9% to be this morning’s biggest riser and is trading at 11c.
Metalicity (ASX:MCT) is out at the Yundamindra Gold Project, located 65 kms south east of Leonora and 65 kms east of Kookynie where assays from the recent RC drilling programme have been returned with multiple impressive gold intersections and high grades.
Significant intercepts include: [email protected]/tAu from 28m, and [email protected]/t Au.
Importantly, MCT says mineralised intercepts correlate with historical drill intercepts, providing validation and encouragement for further drilling and potential resource estimation.
Adisyn (ASX:AI1) says it’s gone in for a binding collaboration agreement with 2D Generaton Ltd – is a global semiconductor IP business incorporated in Israel with close ties to – among others – NVIDIA.
Just say the name and the investors pile in.
Be that as it may, AI1 reports the the partnership aims to “generate transformational opportunities in the AI space”.
“Leveraging Adisyn’s expertise in data centre management, managed IT services, and cybersecurity, alongside 2D Generation’s industry-leading
capabilities in developing next-generation AI semiconductor solutions.
The lithium hunter Dynamic Metals (ASX:DYM) farm-out JV of Widgiemooltha with Mineral Resources (ASX:MIN) has started to bear fruit after pre-conditions were satisfied and the latter coughed up a $4m payment.
The deal, etched in March, gives MIN a 40% share in the lithium rights of the project (after a further $1m payment next year), which will bump up to 65% as long as it spends $15m on exploration within the next four years.
While DYM has been searching the tenements for nickel prospectivity of late, MinRes is expected to start hitting the ground shortly to further prove up identified lithium targets.
Attura (ASX:ATA)
IT firms Atturra is rising as well after agreement to acquire Exent Holdings for $6mn in upfront consideration with earn-out/post-completion consideration of up to $2mn cash. ATA says it’s a strategically aligned acquisition which helps to extend ATA’s advisory and consulting network.
ATA also says FY24 revenue is expected to exceed $240 million, a 35% increase from the previous year. The company anticipates an underlying EBITDA of $25-$26 million, up 19% on pcp.
There’s been some 40 new federal government contracts, including ones with the Departments of Defence, Home Affairs, and Treasury, which boosted performance.
And the local penny stock Middle Island Resources (ASX:MDI) announced on Friday a massive leg up from NT government – circa $300,000 for a drilling collab at its Barkly IOCG project near Tennant Creek.
Three diamond holes are being funded at the Wilma, Pebbles and Dino prospects which are targeted for copper, gold and base metals mineralisation from analysing geophysical data back in April.
“With these grants, MDI is now set to commence drilling planning for the 2024 season,” MDI CEO Roland Bartsch said.
“MDI is delighted to have again been awarded collaboration grants under the NT Government’s Resourcing the Territory program.
“This is a competitive program, and to be the only company to have received the maximum grant allowed is an endorsement of the concepts and targets developed by the team’s systematic approach.”
Shares were up over 23% on Monday.
MONDAY’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 88E 88 Energy Ltd 0.002 -33% 6,294,098 $86,678,016 PRX Prodigy Gold NL 0.002 -33% 75,000 $6,353,323 TD1 Tali Digital Limited 0.001 -33% 13,767 $4,942,733 WML Woomera Mining Ltd 0.002 -33% 37,650 $3,654,417 CT1 Constellation Tech 0.002 -25% 216,877 $2,949,467 CTN Catalina Resources 0.003 -25% 329,291 $4,953,948 SKN Skin Elements Ltd 0.003 -25% 1,973,336 $2,357,944 MOV Move Logistics Group 0.230 -23% 5,131 $34,915,539 ALM Alma Metals Ltd 0.007 -22% 668,331 $12,985,910 AXE Archer Materials 0.280 -22% 2,710,476 $91,744,925 EWC Energy World Corpor. 0.011 -21% 327,591 $43,104,897 GLN Galan Lithium Ltd 0.155 -21% 7,980,741 $92,419,079 PR2 Piche Resources 0.160 -20% 1,704,372 $16,058,108 AHN Athena Resources 0.002 -20% 259,000 $2,676,169 EFE Eastern Resources 0.004 -20% 100,000 $6,209,732 ME1 Melodiol Glb Health 0.002 -20% 1,286,244 $765,659 NES Nelson Resources. 0.002 -20% 332 $1,533,986 POS Poseidon Nick Ltd 0.004 -20% 1,346,824 $18,567,674 PTL Prestal Holdings Ltd 0.115 -18% 1,000,625 $23,864,330 LIC Lifestyle Communit. 10.415 -17% 2,303,304 $1,530,272,479 CCZ Castillo Copper Ltd 0.005 -17% 648,565 $7,797,032 RML Resolution Minerals 0.003 -17% 1,445,178 $4,830,065 GTG Genetic Technologies 0.053 -16% 988,049 $8,329,686 ABB Aussie Broadband 3.060 -14% 8,426,507 $1,054,999,478
TRADING HALTS
Native Mineral Resources (ASX:NMR)
Alterity Therapeutics (ASX:ATH)
G11 Resources Limited (ASX:G11)
The post Rise and Shine: Everything you need to know before the ASX opens appeared first on Stockhead.
