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

Good morning everyone, and welcome to Thursday, 30 November.

On Stockhead today…

The Canadian stock market has been a strange place in 2023, with more companies taken private than IPOs this year in a C$12.5 billion splurge from cashed up private equity firms. In fact just one IPO — Lithium Royalty Corp (TSX:LIRC) — has made it to the main boards of the TSX. Josh Chiat looks at four recent deals from TSX-listed miners trying to add scale and weight.

But first..

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$2,042.44 (+0.08%)

Silver: US$24.91 (+0.07%)

Nickel (3mth): US$17,813/t (-0.3%)

Copper (3mth): US$8,147/t (-0.4%)

Oil (WTI): US$76.58 (+0.23%)

Oil (Brent): US$81.73 (+0.05%)

Iron 62pc Fe: US$130.40/t (-0.02%)

AUD/USD: 0.6630 (-0.26%)

Bitcoin: US$38,136 (+2.85%)

WHAT GOT YOU TALKING

Enthusiasm for the mining sector has been waning for much of 2023, with falling commodity prices — outside iron ore, gold and uranium — placing a question mark over growth plans across the sector. But those in the know say investments in new production will continue ahead of massive shortfalls of the lithium needed to meet EV sales targets later in the decade.
Contractors are among the cohort trying to capture and hold some of that value, with one giving an indication of the wall in capital to be spent on Australian mines in the coming years.

Dimerix shares rose after Chinese authorities approved an investigational new drug (IND) application to commence recruitment for its ACTION3 Phase 3 study of DMX-200, for focal segmental glomerulosclerosis (FSGS) kidney disease.

And… vale…

Charlie Munger, Warren Buffett’s right-hand man and the VC of Berkshire Hathaway, has died aged 99. https://t.co/p1EGCYR3vq

— Stockhead (@StockheadAU) November 29, 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 MTC Metalstech Ltd 0.22 83% 2,436,757 $22,632,551 CPM Coopermetalslimited 0.22 57% 9,935,336 $7,450,471 RDN Raiden Resources Ltd 0.07 49% 152,109,173 $112,146,570 AVE Avecho Biotech Ltd 0.005 43% 11,638,553 $9,444,022 ERW Errawarra Resources 0.19 41% 6,075,852 $12,949,290 ADS Adslot Ltd. 0.004 33% 1,129,329 $9,673,487 SBR Sabre Resources 0.046 28% 26,458,483 $12,858,795 MAG Magmatic Resrce Ltd 0.074 28% 843,165 $17,730,182 YRL Yandal Resources 0.07 27% 1,211,449 $8,679,169 FNX Finexia Financialgrp 0.285 27% 25,043 $10,890,608 CRB Carbine Resources 0.005 25% 500,000 $2,206,951 ME1 Melodiol Glb Health 0.0025 25% 7,193,695 $7,668,207 MKL Mighty Kingdom Ltd 0.02 25% 50,000 $6,725,914 AKO Akora Resources 0.175 21% 62,611 $13,772,508 ESR Estrella Res Ltd 0.006 20% 5,602,873 $8,795,359 MEL Metgasco Ltd 0.012 20% 468,846 $10,638,867 EEG Empire Energy Ltd 0.16 19% 1,140,984 $104,371,355 CXU Cauldron Energy Ltd 0.013 18% 11,815,283 $12,453,798 FFG Fatfish Group 0.013 18% 863,416 $13,092,637 EMS Eastern Metals 0.033 18% 113,849 $2,307,935 LRD Lordresourceslimited 0.081 17% 90,551 $2,562,116 ATH Alterity Therap Ltd 0.007 17% 733,888 $14,639,386 LML Lincoln Minerals 0.007 17% 4,705,885 $10,163,072 LRL Labyrinth Resources 0.007 17% 14,020 $7,125,262 TOY Toys R Us 0.014 17% 4,180,154 $11,789,562

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Yesterday’s Small Caps highlights:

It was Euro Manganese (ASX:EMN) all the way on Wednesday.

Here’s Master of Anything Manganesian, Dr Robert Badman:

This $38m market capped Canadian manganese stock hasn’t had the best time of things since we mentioned it in this column in mid-August … although we’re pretty sure that’s not our fault.

Back then, you see, it was a $52m market capper.

But… its fortunes now look to be making a u-turn in the right direction, with the stock bursting up +45% and making news just about everywhere on the back of a significant project financing deal with $8.2 billion global asset management firm Orion Resource Partners.

It’s a US$100m non-dilutive funding package to advance the development of the Chvaletice manganese project in the Czech Republic – the company’s primary focus.

Rob says EMN is battery materials focused, with manganese a lesser-known (than lithium and nickel anyway) raw material required as ‘a stabilising component in the cathodes of nickel-manganese-cobalt (NMC) lithium-ion batteries used in electric vehicles.’

“The funding is split into two $50 million tranches, including a $50 million loan facility, convertible into a 1.29-1.65% royalty on project revenues, and another $50m in exchange for a 1.93-2.47% royalty on project revenues following a final investment decision by the company’s board,” Rob says.

Slipping into second place was Ballymore Resources (ASX:BMR) which says it’s raised $1.8m via a placement/ entitlement offer – plus another $1.5m from mining royalty firm Taurus – to advance the Dittmer gold mine to production.

And Swoop Telecommunications (ASX:SWP) went gangbusters.

No idea. Sorry.

YESTERDAY’S ASX SMALL CAP LAGGARDS

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume Market Cap AQX Alice Queen Ltd 0.008 -43% 2,924,943 $1,771,208 TWE Treasury Wine Estate 0.053 -34% 581,072 $6,110,884 AMD Arrow Minerals 0.0015 -25% 5,000,000 $6,047,530 CCE Carnegie Cln Energy 0.0015 -25% 4,090,239 $31,285,147 CT1 Constellation Tech 0.003 -25% 156,666 $5,884,801 XF1 Xref Limited 0.135 -25% 498,228 $33,511,732 EYE Nova EYE Medical Ltd 0.145 -22% 2,298,638 $35,266,345 FAU First Au Ltd 0.002 -20% 2,485,133 $3,629,983 LBT LBT Innovations 0.004 -20% 653,249 $1,779,502 RMX Red Mount Min Ltd 0.004 -20% 12,469,106 $13,367,880 BRU Buru Energy 0.11 -19% 625,204 $80,465,816 PH2 Pure Hydrogen Corp 0.12 -17% 2,469,076 $51,498,510 NGL Nightingale Intel 0.044 -17% 23,518 $5,693,993 NYM Narryermetalslimited 0.1 -17% 120,000 $5,759,229 AUH Austchina Holdings 0.0025 -17% 816,356 $6,233,651 ICN Icon Energy Limited 0.005 -17% 175 $4,608,082 LVT Livetiles Limited 0.005 -17% 29,437 $7,062,664 RML Resolution Minerals 0.005 -17% 3,553,515 $7,543,751 NAG Nagambie Resources 0.031 -16% 1 $21,523,874 MCL Mighty Craft Ltd 0.0105 -16% 3,993,290 $4,555,531 3PL 3P Learning Ltd 0.96 -16% 139,470 $313,216,457 KPO Kalina Power Limited 0.004 -16% 222,778 $7,197,180 AMM Armada Metals 0.028 -15% 71,500 $5,694,746 ALM Alma Metals Ltd 0.006 -14% 4,827,629 $7,798,006 BFC Beston Global Ltd 0.006 -14% 1,612,000 $13,979,328

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