Rise and Shine: Everything you need to know before the ASX opens-330

Estimated read time 6 min read

Good morning everyone, and welcome to Thursday, 16 November – a date on the Great Musical Calendar that will forever be remembered as the day the world was nearly permanently spared the insufferable presence of U2 frontman Bono, following a “high energy bicycle accident” in 2014.

Sadly for most people, Bono not only survived being toppled from his bicycle but went on to deliver even more earnest torment on those around the globe, including this memorable moment when he and The Edge decided that playing a secret gig together from the safety of the bottom of a Ukraine train station escalator would bring an end to hostilities with Russia.

 

 

Spoiler alert: it didn’t.

The lesson here is pretty clear – ”Let’s go there and sing” isn’t really an appropriate response to an unfolding humanitarian crisis, lads. Next time, stay home and say dumb things on X, like a normal person.

Anyway… to prep you for the day ahead, we’ve got a bunch of great stories from our dedicated Stockhead team, none of whom have ever decided to hold an impromptu performance in an underground train station to send a message to Vladimir Putin.

Those stories include Josh Chiat’s excellent coverage of Argonaut’s list of best ASX undeveloped projects, and Eddy Sunarto’s top-medicine cabinet drawer look at stuff that happened in biotechs over the past fortnight.

Christian Edwards squeezed three stocks picks out of Kyle Rodda that seem pretty solid in these yield-flipping times.

Plus, as always, here’s all the fiddly data and digits to get you up to speed this morning as well.

 

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$1,967.55 (+0.20%)

Silver: US$23.20 (+0.35%)

Nickel (3mth): US$16,996.14/t (-0.02%)

Copper (3mth): US$8,080.50/t (-0.01%)

Oil (WTI): US$78.55 (+0.45%)

Oil (Brent): US$82.83 (+0.45%)

Iron 62pc Fe: US$128.34/t (+0.21%)

AUD/USD: 0.6501 (+0.01%)

Bitcoin: US$35,575 (+0.06%)

 

WHAT GOT YOU TALKING

Everyone’s gone a bit Resources mad the past few days, and this excellent snapshot certainly grabbed us by the socials yesterday.

 

Errawarra flies as Azure & Raiden money drips to Andover lithium neighbours
Odessa surges on Yinnetharra #lithium targeting as Osmond announces Spanish SOP, alumina & graphite deal
Atlantic Lithium runs after rejecting Assore takeover offer https://t.co/aXHPgIYddi

— Stockhead (@StockheadAU) November 15, 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 FRE Firebrickpharma 0.069 86% 9,157,395 $4,200,025 FND Findi Limited 1.23 55% 1,085,912 $29,302,597 KGD Kula Gold Limited 0.021 50% 13,736,189 $5,224,967 BP8 Bph Global Ltd 0.0015 50% 274,285 $1,615,563 A11 Atlantic Lithium 0.565 47% 1,864,662 $235,713,039 TSL Titanium Sands Ltd 0.014 40% 4,032,887 $17,718,047 VAR Variscan Mines Ltd 0.014 40% 832,746 $3,566,147 ACM Aus Critical Mineral 0.51 38% 1,296,231 $11,000,563 LSA Lachlan Star Ltd 0.076 27% 109,524 $12,454,392 ROC Rocketboots 0.145 26% 7,374 $3,741,928 NNG Nexion Group 0.015 25% 230,539 $2,427,694 E33 East 33 Limited. 0.025 25% 39,700 $10,381,774 AD1 AD1 Holdings Limited 0.005 25% 349,800 $3,290,276 ARD Argent Minerals 0.01 25% 1,808,212 $9,431,850 FAU First Au Ltd 0.0025 25% 300,000 $2,903,987 MOH Moho Resources 0.01 25% 9,795,672 $2,720,355 ODE Odessa Minerals Ltd 0.01 25% 73,534,203 $7,576,895 SFG Seafarms Group Ltd 0.005 25% 1,375,648 $19,346,397 SIS Simble Solutions 0.005 25% 2,000,000 $2,411,803 MCL Mighty Craft Ltd 0.013 24% 2,079,961 $3,826,646 GCM Green Critical Min 0.008 23% 3,857,091 $7,387,803 OSM Osmondresources 0.11 22% 666,315 $4,220,644 MNS Magnis Energy Tech 0.062 22% 19,054,351 $61,174,406 AKN Auking Mining Ltd 0.047 21% 526,195 $7,960,045 ICN Icon Energy Limited 0.006 20% 63,636 $3,840,068

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Yesterday’s Small Caps highlights were:

Up enormously – but off one of the biggest collapses in 2023 – it looks like Firebrick Pharma (ASX:FRE) has had a reprieve. And a good one at that.

Firebrick has been developing and commercialising a povidone-iodine nasal spray called Nasodine with all the international trademarks and patents – some of which have already been granted in the US, Europe and here.

There’s been six clinical trials to date for Nasodine, including a Phase 1 study, three Phase 2 studies and two Phase 3 studies, which have affirmed the product’s
safety and generally supported its efficacy as an antimicrobial nasal spray with utility in a range of uses.

But… Firebrick has been continuing its investigation into the results of the 2022-2023 Phase 3 common cold trial (2023 Trial), which in short, it reckons was a dud.

Now an indie expert agrees:

“The model outcomes strongly indicate major inaccuracies in the 2023 trial data, casting doubt on its reliability. This raises significant concerns about using the 2023
data to draw conclusions about the efficacy of the active versus placebo in that trial.”

So maybe the spray does cure the common cold after all…

Findi (ASX:FND) was up over 100% early and while buying calmed some in the sharp light of arvo, the gains were still impressive.

Everything you need to know about FND is in this rather timely peice of journalism Eddy wrote till the wee hours and filed just before the open. What a legend. What a gun. What a shame he’s too skint to put ten quid on the nose.

… because yesterday morning FND dropped the news that its Indian subsidiary, Transaction Solutions International, had raised circa $38 million via placement ahead of its groundbreaking Indian IPO this week.

That money has come via leading Indian investment group, Piramal Alternatives, by way of Compulsory Convertible Debenture which are compulsorily convertible to equity at IPO.

“The entry equity valuation is based on an FY23 EBITDA multiple and reflects a pre-IPO market capitalisation of $153.0 million (post money $190.6 million) ahead of TSI India’s intended listing on the Bombay Stock Exchange,” Findi says.

Also up: lots of little ASX lithium miners.

 

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 Company Price % Volume Market Cap AVE Avecho Biotech Ltd 0.003 -40% 2,625,924 $13,491,460 KEY KEY Petroleum 0.001 -33% 4,711,130 $2,951,892 MRQ Mrg Metals Limited 0.002 -33% 489,999 $6,617,756 MTC Metalstech Ltd 0.17 -29% 1,394,573 $45,265,102 IEC Intra Energy Corp 0.003 -25% 357,033 $6,643,126 PNX PNX Metals Limited 0.003 -25% 9,291 $21,522,499 LM1 Leeuwin Metals Ltd 0.23 -25% 2,518,950 $13,659,425 S66 Star Combo 0.1 -23% 2,285 $17,560,788 SOV Sovereign Cloud Hldg 0.08 -20% 28,253 $33,940,067 CAV Carnavale Resources 0.004 -20% 8,038,310 $17,117,759 GTG Genetic Technologies 0.002 -20% 50,000 $28,854,145 OAR OAR Resources Ltd 0.004 -20% 9,724,274 $13,065,679 BMG BMG Resources Ltd 0.009 -18% 183,280 $6,971,769 TEM Tempest Minerals 0.009 -18% 397,604 $5,625,218 BUR Burleyminerals 0.175 -17% 846,893 $21,272,319 ADV Ardiden Ltd 0.005 -17% 1,494,006 $16,130,012 FHS Freehill Mining Ltd. 0.0025 -17% 133,519 $8,534,403 IVX Invion Ltd 0.005 -17% 5,409,899 $38,529,793 YOJ Yojee Limited 0.005 -17% 8,610,884 $6,811,227 EBR EBR Systems 0.665 -16% 491,028 $237,936,600 CMP Compumedics Limited 0.16 -16% 11,150 $33,660,960 GBE Globe Metals &Mining 0.033 -15% 813,588 $26,358,836 MMM Marley Spoon Se 0.044 -15% 340,156 $20,454,706 RGL Riversgold 0.011 -15% 1,762,138 $12,366,399 HMD Heramed Limited 0.046 -15% 336,272 $15,093,766

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TRADING HALTS

Karoon Energy (ASX:KAR) – Pending an announcement regarding a potential transaction

Mithril Resources (ASX:MTH) – Pending an announcement in connection to the scheme of arrangement with Newrange Gold

Mako Gold (ASX:MKG) – Pending an announcement regarding a capital raising

Virdis Mining and Minerals (ASX:VNM) – Pending the release of an announcement in relation to drill assay results from the Company’s Colossus project

Panoramic Resources (ASX:PAN) – Pending an update on financial, strategic and operational matters

Asra Minerals (ASX:ASR) – Pending the release of an announcement in relation to a capital raising

 

The post Rise and Shine: Everything you need to know before the ASX opens-330 appeared first on Stockhead.

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