ASX Small Cap Lunch Wrap: Which high profile IPO hit the bourse today?

Benchmark ASX 200 index was down 0.44% at lunchtime
Uranium price hit another record high above US$90/lb
Gina backed Brazilian Rare Earths (ASX:BRE) gains +14% on debut

A fall on Wall Street overnight bled though to the local bourse, with the ASX yo-yoing between losses and parity for much of the morning.

The benchmark ASX 200 index was down 0.44% at lunchtime, with nine sectors down and just two up.

Capital’s senior financial market analyst Kyle Rodda says Wall Street finally hit an “air pocket” as investors finally took a breath, taking profits after the post-Fed Powell-pivot party.

“Markets were becoming overbought, and a pullback like this is natural given those conditions,” Keith Buchanan, senior portfolio manager at Globalt Investments told Morningstar.

“So, it was more technical than fundamental.”

Crude prices pulled back overnight, while gold is steady at near record high of ~US$2035/oz.

Meanwhile, spot yellowcake prices hit another record high:

#BoomAlert #uranium
OMG Spot U Ask:
$91 pic.twitter.com/vClLhsMQ7e

— NostraThomas UBull (@SloCan68) December 20, 2023

And are now excruciatingly close to hitting triple digits. When will stocks respond?

How is today’s big rare earths IPO travelling?

Today’s biggest news is the debut of large but tightly held Brazilian Rare Earths (ASX:BRE), which raised $50m in an IPO at $1.47/sh.

It is up +13% in early trade, which you can read more about here.

The register is jam packed with industry celebs and high net worths, counting Gina Rinehart and Whitehaven Coal as shareholders, alongside wealthy coal industry veterans Mark Lochtenberg and Brian Flannery.

Also holding a big chunk of stock are IperionX (ASX:IPX) board members and advisors Todd Hannigan, Taso Arima, Ray Nimrod and Dominic Allen.

HOW ARE THE BIG STOCKS FARING TODAY?

Winners

Meridian Energy (ASX:MEZ) +5%

AGL Energy (ASX:AGL) +2%

Whitehaven Coal (ASX:WHC) +1.5%

Losers

GQG Partners (ASX:GQG) -5%

Allkem (ASX:AKE) -5%

Lynas Rare Earths (ASX:LYC) -2.5%

Pilbara Minerals (ASX:PLS) -2.5%

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for 21 December [intraday]:

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CODE COMPANY PRICE % VOLUME MARKET CAP CGO CPT Global Limited 0.2 70% 448,864 $4,922,940 MTB Mount Burgess Mining 0.004 60% 328,621 $2,612,034 NYM Narryermetalslimited 0.095 53% 67,951 $2,975,602 TKL Traka Resources 0.003 50% 517,333 $1,750,659 VPR Volt Power Group 0.0015 50% 100,000 $10,716,208 FAU First Au Ltd 0.004 33% 5,025,035 $4,985,980 KP2 Kore Potash PLC 0.016 33% 685,541 $8,040,073 MCT Metalicity Limited 0.002 33% 14,904,784 $6,727,581 FCT Firstwave Cloud Tech 0.04 33% 466,874 $51,287,419 T3D 333D Limited 0.014 27% 35,161 $1,313,894 ERL Empire Resources 0.005 25% 1,000,000 $4,451,740 FHS Freehill Mining Ltd. 0.005 25% 8,867,680 $11,399,338 TMX Terrain Minerals 0.005 25% 400,428 $5,413,711 ADR Adherium Ltd 0.056 24% 104,908 $15,004,799 CNJ Conico Ltd 0.0055 22% 813,974 $7,065,427 GBZ GBM Rsources Ltd 0.011 22% 1,203,000 $5,582,896 WA1 Wa1Resourcesltd 11.85 22% 806,240 $413,340,084 AJL AJ Lucas Group 0.012 20% 1,092,893 $13,757,296 SFG Seafarms Group Ltd 0.006 20% 16,153 $24,182,996 PVT Pivotal Metals Ltd 0.026 18% 2,846,101 $14,961,227 VNL Vinyl Group Ltd 0.053 18% 2,028,061 $23,153,156 BMM Balkanminingandmin 0.135 17% 40,472 $8,169,659 LYN Lycaonresources 0.17 17% 533 $6,388,156 CAI Calidus Resources 0.21 17% 3,331,132 $109,842,661 EMP Emperor Energy Ltd 0.0105 17% 9,368,700 $3,010,387

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Billionaire WiseTech founder — and former roadie to AC/DC — Richard White is investing $11 million in Vinyl Group (ASX:VNL) so it can buy The Brag Media, publisher of Rolling Stone in Australia and New Zealand.

Metalicity (ASX:MCT) has executed formal agreements and settled all disputes with Nex Metals regarding the Kookynie and Yundamindra gold joint venture.

MCT will now hold 80% of the JV, up from 51%.

And miner Calidus (ASX:CAI) is buying Novo’s troubled Nullagine gold project for just $250k in shares and $5m in deferred payments.

It looks like CAI will actually make money on the deal from the outset, as it plans to rent out the camp infrastructure to Atlas Iron for an upfront cost of $14m, while retaining the right to use 50% of the camp.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for 21 December [intraday]:

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

CODE COMPANY PRICE % VOLUME MARKET CAP NGY Nuenergy Gas Ltd 0.022 -29% 165,077 $45,909,620 MTO Motorcycle Hldg 1.85 -26% 1,116,663 $185,254,174 NFL Norfolkmetalslimited 0.17 -26% 1,772,475 $8,124,749 LSR Lodestar Minerals 0.003 -25% 200,230 $8,093,589 MHC Manhattan Corp Ltd 0.003 -25% 1,000,000 $11,747,919 PHL Propell Holdings Ltd 0.012 -20% 174,233 $1,805,333 ASP Aspermont Limited 0.008 -20% 1,666,500 $24,387,637 JAY Jayride Group 0.032 -20% 87,025 $9,376,365 ASR Asra Minerals Ltd 0.0075 -17% 3,277,625 $14,660,962 IPB IPB Petroleum Ltd 0.01 -17% 6,176,133 $6,781,469 COY Coppermoly Limited 0.011 -15% 100,000 $9,049,761 AZL Arizona Lithium Ltd 0.034 -15% 397,887,254 $133,780,576 TSO Tesoro Gold Ltd 0.023 -15% 73,204 $31,076,739 OEC Orbital Corp Limited 0.098 -15% 222,986 $16,767,774 1TT Thrive Tribe Tech 0.018 -14% 161,177 $6,229,052 AVE Avecho Biotech Ltd 0.003 -14% 398,692 $11,092,540 CCO The Calmer Co Int 0.006 -14% 922,833 $5,996,633 OAR OAR Resources Ltd 0.003 -14% 10,943,525 $9,243,713 WZR Wisr Ltd 0.03 -14% 3,853,778 $47,761,510 JNO Juno 0.1 -13% 4,900 $20,923,705 AD1 AD1 Holdings Limited 0.007 -13% 11,940 $6,871,400 VMS Venture Minerals 0.007 -13% 12,947,149 $15,600,104 EOF Ecofibre Limited 0.105 -13% 33,697 $45,384,868 SZL Sezzle Inc. 21.98 -12% 17,609 $52,575,396 SPQ Superior Resources 0.0115 -12% 14,470,556 $23,849,199

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