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

Good morning everyone, and welcome to 18 July, 2024 – an important date in the history of getting sprung with your hands down the front of your toga.

That’s because it was on this day in the Year 64 that the Great Fire of Rome began, which then-Emperor Nero quite famously “fiddled” through while the whole place went up in flames.

Although, upon further reading, I might have interpreted that wrong – as legend has it he was actually sitting around playing a fiddle while Rome was reduced to a smouldering crater, with some historians suggesting that his lackadaisical approach might have had something to do with wanting a shiny new palace.

Either way, Nero didn’t have far to look for a culprit to blame, telling anyone who would listen that a “dangerous new cult” was behind the fire, promising to find all these so-called “Christians” and stamp out their weird new monotheistic religion.

No spoilers for noticing what an appalling job he did on that front, too.

Luckily for you, you won’t need to be hunted down and fed to the lions by a crazy Roman Emperor in order to get your hands on the info you need this morning, because – as always – I’ve worked super-hard to gather together lots of fiddly little things below, so you don’t need to go ferreting all over the internet for your ASX info this morning.

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$2,467.02/oz (-0.07%)

Silver: US$30.86/oz (-1.75%)

Nickel (3mth): US$16,653/t (+1.35%)

Copper (3mth): US$9,642/t (+0.81%)

Zinc: US$2,860/t (-1.50%)

Oil (WTI): US$79.57/bbl (-1.53%)

Oil (Brent): US$83.57/bbl (-0.18%)

Iron 62pc Fe: US$109.39/t (-0.26%)

AUD/USD: 0.6736 (+0.07%)

Bitcoin: US$65,648.70 (+0.88%)

WHAT GOT YOU TALKING

Labyrinth Resources (ASX:LRL) was the big Ressie winner yesterday – here’s all the details and a few other diggers who done good and played strong, full credit to the boys, and all that other great footy guff.

.@Labyrinth_Res ( #ASX : $LRL ) is the big ressie winner today. #Resources #stocks in the news: Somerset Minerals ( $SMM ) and @peakolimited ( $PKO ). | #SmallCaps https://t.co/pVaJtQYB0c

— Stockhead (@StockheadAU) July 17, 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 LRL Labyrinth Resources 0.015 200% 35,948,127 $5,937,719 XGL Xamble Group Limited 0.030 50% 238,022 $5,923,142 AUK Aumake Limited 0.003 50% 1,787,291 $3,828,814 PRX Prodigy Gold NL 0.003 50% 1,465,653 $4,235,549 TD1 Tali Digital Limited 0.002 50% 10,000 $3,295,156 WNR Wingara Ag Ltd 0.011 38% 75,558 $1,404,340 DOU Douugh Limited 0.004 33% 198,436 $3,246,207 OAR OAR Resources Ltd 0.002 33% 100,000 $4,833,150 PKO Peako Limited 0.004 33% 1,934,160 $1,581,254 ATH Alterity Therap Ltd 0.007 30% 116,668,586 $26,225,577 HLX Helix Resources 0.003 25% 9,139,041 $6,528,387 LPD Lepidico Ltd 0.003 25% 600,000 $17,178,239 SIH Sihayo Gold Limited 0.003 25% 487,000 $24,408,512 ADN Andromeda Metals Ltd 0.021 24% 31,138,086 $52,874,606 ID8 Identitii Limited 0.011 22% 1,594,279 $5,410,643 KLI Killiresources 0.120 20% 3,629,718 $12,022,374 AVE Avecho Biotech Ltd 0.003 20% 10,943 $7,923,243 HXL Hexima 0.012 20% 270,178 $1,670,396 TYX Tyranna Res Ltd 0.006 20% 648,914 $16,439,627 TTT Titomic Limited 0.168 20% 9,773,198 $141,536,937 STP Step One Limited 1.745 20% 886,323 $270,596,825 AQD Ausquest Limited 0.013 18% 279,505 $9,076,641 REZ Resourc & En Grp Ltd 0.017 18% 1,478,117 $9,052,948 FAL Falconmetalsltd 0.293 17% 1,068,375 $44,250,000 HAW Hawthorn Resources 0.070 17% 58,488 $20,100,937

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Yesterday’s Small Cap Winners included:

Labyrinth Resources (ASX:LRL), is the big little winner on Wednesday, after entering a 12-month option to acquire the remaining 49% of its Comet Vale gold project from Sand Queen Gold Mines for a cool $3m cash.

Comet Vale, 32km south of Menzies, is currently endowed with a resource of 96,000oz at 4.8g/t gold. It’s also snapping up the Vivien gold project by acquiring private company Distilled, whereby its vendors Alex Hewlett and Kelvin Flynn are expected to emerge with 12.3% and 10.2% voting power in LRL once transactions are finalised.

Vivien was famously mined by WA gold success story Ramelius Resources (ASX:RMS), generating $130m in net cash flow on a $10m purchase from Gold Fields.

It gives previously Canada-focused Labyrinth more exposure in the Goldfields and is part of its strategy to build ounces by consolidating and growing underexplored high-grade mines around the Menzies, Leinster and Leonora corridor.

And ahead by 40% is the local biotech with a penchant for targeting neurodegenerative diseases, Alterity Therapeutics (ASX:ATH), which climbed on positive interim data from the ATH434-202 open-label Phase 2 clinical trial in patients with multiple system atrophy (MSA), which has been shown to pre-clinically reduce α-synuclein pathology and preserve neuronal function by restoring normal iron balance in the brain. This is good news… trust me, I’m not a doctor.

Step One Clothing (ASX:STP), dropped a handsome uptick to forward guidance, which says – subject to final audit – the company now expects its FY24 financial results to be $84 million in FY24 revenue (vs FY23 $65 million), that’s circa 30% growth on the prior corresponding period (pcp), with $17 million in FY24 EBITDA (vs FY23 $12 million), an over 42% bump on pcp.

Titomic (ASX:TTT) continued to rise a day after the announcement it’d hired seasoned US Defence industry executive, Dr Patricia Dare. Dr Dare, (rumoured to be former Marvel villain now using her powers for good), and former Boeing and Lockheed executive is on board to further push TTT into the US Defence sector following its cracking headway into that lucrative sector on the top of recent contract wins.

And Andromeda Metals (ASX:ADN) was up, thanks to news of a binding with Traxys Europe for the sale and purchase of Andromeda’s kaolin products for the first 5 years of production, which the company says has helped it to meet the required support needed for its expanded Stage 1A+ production and further progress towards a final investment decision.

AusQuest (ASX:AQD) is up good this arvo after kicking off a detailed VTEM survey ( half paid for by the WA Government via its “Co-Funded Geophysics Program”) over itsMt Davis Base Metal Project, in WA’s Earaheedy Basin.

Acquired following the discovery by Rumble Resources (ASX:RTR) of extensive lead, zinc and copper mineralisation at the Chinook Prospect on the southern side of the Earaheedy Basin, MD Graeme Drew says detailed magnetics for the Mt Davis Project provide “strong evidence for the presence of either structurally disjointed Frere Iron Formation or extensive thick mafic intrusions, or both.”

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 EDE Eden Inv Ltd 0.001 -50% 50,000 $7,427,417 JTL Jayex Technology Ltd 0.001 -50% 587,965 $562,557 DTI DTI Group Ltd 0.009 -36% 4,157 $6,279,720 SI6 SI6 Metals Limited 0.002 -33% 2,799,998 $7,106,578 SIT Site Group Int Ltd 0.002 -33% 1,014,459 $7,807,471 AX8 Accelerate Resources 0.015 -32% 10,111,659 $13,656,587 CAQ CAQ Holdings Ltd 0.011 -31% 911,383 $11,484,580 MXO Motio Ltd 0.012 -25% 3,121,566 $4,291,174 PUR Pursuit Minerals 0.003 -25% 996,899 $14,541,600 BEZ Besragoldinc 0.075 -24% 4,474,215 $41,391,990 ITM Itech Minerals Ltd 0.079 -21% 913,435 $12,228,356 EEL Enrg Elements Ltd 0.002 -20% 494,453 $2,524,913 MSG Mcs Services Limited 0.004 -20% 3,215,382 $990,498 MTL Mantle Minerals Ltd 0.002 -20% 111,027 $15,493,615 ROG Red Sky Energy. 0.004 -20% 500,000 $27,111,136 ICI Icandy Interactive 0.025 -19% 2,734,725 $41,690,070 SRH Saferoads Holdings 0.041 -18% 150,000 $2,185,270 KM1 Kalimetalslimited 0.175 -17% 437,003 $16,133,801 LPM Lithium Plus 0.125 -17% 866,580 $19,851,000 RON Roninresourcesltd 0.125 -17% 270 $5,523,752 ADG Adelong Gold Limited 0.005 -17% 2,480,090 $6,707,934 ICG Inca Minerals Ltd 0.005 -17% 3,150,107 $4,863,219 SP3 Specturltd 0.020 -17% 509,831 $6,419,959 PAM Pan Asia Metals 0.077 -16% 252,977 $17,067,688

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