Closing Bell: ASX dealmakers don’t go on holiday, it seems

ASX 200 up ~0.7%, nearing record high
Small Cap Winners: EUR, ATR
Small Cap Losers: BME, R3D

The ASX 200 Index was up Thursday, gaining 0.70% on classic pre-New Year’s ‘lower than normal’ volume.

We are close to an all-time record.

The S&P/ASX 200 index on Thursday finished up 53,1 points, or 0.7 per cent, to 7614.3 – 14.6 points away from record high set August 13 2021#ausecon #auspol

— Craig James (@craigjamesOZ) December 28, 2023

ASX 200 index at 20-month high
Another test of record level
There have been about four previous attempts
Optimism that the US is winning the battle against inflation is main catalyst for global Santa Claus rally #ausecon #auspol

— Craig James (@craigjamesOZ) December 28, 2023

10 out of 11 sectors were higher, led by IT with a 1.03% gain.

TRADING HALTS

These stocks entered trading halts Thursday and are expected out in the coming days:

Calima Energy (ASX:CE1) – sale of the Blackspur assets

CZR Resources (ASX:CZR) – corporate transaction in relation to the company’s Robe Mesa iron ore project

THURSDAY’S LARGE CAP MOVERS

Winners

Champion Iron (ASX:CIA) +4%

Sandfire Resources (ASX:SFR) +2.5%

Auckland International Airport (ASX:AIA) +2.5%

Fortescue Metals (ASX:FMG) +2%

Losers

Boss Energy (ASX:BOE) -3.5%

Tuas (ASX:TUA) -3%

De Grey Mining (ASX:DEG) -2.5%

Cettire (ASX:CTT) -2.5%

SMALL CAP LEADERS

Today’s best performing ASX small cap stocks:

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CODE COMPANY PRICE % VOLUME MARKET CAP ME1 Melodiol Glb Health 0.002 100% 840,669 $4,728,824 EUR European Lithium Ltd 0.097 35% 21,960,890 $100,385,221 FAU First Au Ltd 0.004 33% 621,262 $4,985,980 QUE Queste Communication 0.04 29% 223,785 $839,242 ATR Astron Corp Ltd 0.58 27% 51,169 $71,336,820 RNO Rhinomed Ltd 0.03 25% 243,119 $6,857,273 TX3 Trinex Minerals Ltd 0.0075 25% 3,253,832 $8,922,148 ESR Estrella Res Ltd 0.005 25% 410,245 $7,037,487 KNM Kneomedia Limited 0.0025 25% 200,000 $3,066,543 WZR Wisr Ltd 0.04 25% 9,681,513 $43,667,666 AHI Advanced Health 0.135 23% 815,513 $25,723,936 T3D 333D Limited 0.028 22% 240,187 $2,747,234 CR9 Corellares 0.023 21% 144,267 $8,836,727 ADS Adslot Ltd. 0.003 20% 695,016 $8,061,239 SFG Seafarms Group Ltd 0.006 20% 135,000 $24,182,996 M24 Mamba Exploration 0.05 19% 558,400 $2,561,300 SBR Sabre Resources 0.032 19% 2,209,263 $9,776,397 EMS Eastern Metals 0.039 18% 78,912 $2,720,066 AUN Aurumin 0.026 18% 1,495,381 $7,005,748 BDG Black Dragon Gold 0.033 18% 158,529 $5,618,762 EOF Ecofibre Limited 0.165 18% 9,667 $53,042,346 DCL Domacom Limited 0.02 18% 424 $7,403,530 RC1 Redcastle Resources 0.014 17% 93,000 $3,939,410 RIE Riedel Resources Ltd 0.0035 17% 2,603,328 $6,178,221 RIL Redivium Limited 0.007 17% 656,000 $16,385,129

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After going back and forth with the all-powerful SEC for more than a year European Lithium (ASX:EUR) finally has permission to sell its Wolfsberg lithium project to a SPAC called Sizzle.

Also known as blank check companies, SPACs are formed with no assets for the purpose of acquiring or merging with an existing company.

The resultant NASDAQ listed co, Critical Metals Corp, will own the small but advanced 12.8Mt Wolfsberg project.

A DFS earlier this year projected an integrated Wolfsberg hydroxide operation would cost US$866m to build, and have breakeven operating costs of US$17,016/t.

Upon the closing of the transaction, EUR will be issued US$750 million worth of shares in Critical Metals, giving it majority ownership.

Mineral sands miner Astron (ASX:ATR) has inked a non-binding Memorandum of Understanding with the US’ largest uranium producer, Energy Fuels, to jointly develop the 2.6 billion tonne Donald rare earths and mineral sands project in Victoria.

Donald could be a globally significant, long-life supplier of critical rare earth elements (REE), including neodymium, praseodymium, dysprosium, and terbium as well as zirconium and titanium minerals, ATR says.

Energy Fuels to invest A$180 million to earn 49% of the JV, plus issue ATR US$17.5m worth of shares.

SMALL CAP LAGGARDS

Today’s worst performing ASX small cap stocks:

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CODE COMPANY PRICE % VOLUME MARKET CAP BME Blackmountainenergy 0.012 -43% 3,892,834 $8,047,708 AGR Aguia Res Ltd 0.017 -26% 4,704,362 $11,626,060 AVW Avira Resources Ltd 0.0015 -25% 2,113,605 $4,267,580 MHC Manhattan Corp Ltd 0.003 -25% 1,439,427 $11,747,919 EXT Excite Technology 0.007 -22% 496,539 $11,963,176 R3D R3D Resources Ltd 0.041 -21% 94,858 $7,923,322 HPC Thehydration 0.02 -20% 62,710 $6,628,545 CHK Cohiba Min Ltd 0.002 -20% 684,839 $6,325,575 ERL Empire Resources 0.004 -20% 100,000 $5,564,675 AML Aeon Metals Ltd. 0.009 -18% 248,800 $12,060,407 JPR Jupiter Energy 0.018 -18% 9,999 $27,947,266 HCD Hydrocarbon Dynamic 0.005 -17% 1,620,000 $3,897,995 SI6 SI6 Metals Limited 0.005 -17% 13,987,903 $11,963,157 TSO Tesoro Gold Ltd 0.027 -16% 1,411,707 $36,831,691 DYM Dynamicmetalslimited 0.14 -15% 58,800 $5,775,000 HOR Horseshoe Metals Ltd 0.006 -14% 58,000 $4,504,351 BKY Berkeley Energia Ltd 0.295 -13% 488,243 $151,570,883 NES Nelson Resources. 0.0035 -13% 650,000 $2,454,377 CC9 Chariot Corporation 0.53 -12% 303,757 $44,365,599 DGR DGR Global Ltd 0.023 -12% 725,585 $27,136,030 ZMI Zinc of Ireland NL 0.016 -11% 2,997 $3,836,597 HFY Hubify Ltd 0.017 -11% 705,229 $9,426,590 PPK PPK Group Limited 0.895 -11% 104,629 $89,289,293 LGP Little Green Pharma 0.13 -10% 29,876 $43,513,519 KLI Killiresources 0.045 -10% 105,000 $2,978,753

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~$5m capped oil and gas play Black Mountain Energy (ASX:BME) has lodged a formal request to be removed from the official list of the ASX because “the market has significantly undervalued [the company] and its assets.”

The company listed on the ASX in December 2021 after an $11m IPO.

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