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

On Stockhead today, who was the bestest small cap on the ASX in January, another disastrous month for your lithium stocks, and will Evergrande’s collapse cripple iron ore and copper demand? No. No it won’t. (Spoiler.)

But first, the day ahead.

WHO’s LISTING?

The ASX is getting some much needed mid-tier copper exposure when CAD$4.6bn-capped Capstone Copper (TSX:CS) launches its secondary listing at 12pm Eastern Time with the code ASX:CSC.

2023 production of 165,000t from its US and Chilean mines – jumping to 190-220,000t in 2024 – means Capstone is potentially well placed in a simmering copper market.

It has a medium term production target of ~380,000tpa and, ambitiously, believes it can reduce all important operating costs over this period:

Source: Capstone Copper

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$2,043.14 (+0.30%)

Silver: US$22.90 (-0.03%)

Nickel (3mth): US$16,502/t (-3.78%)

Copper (3mth): US$8,482.50/t (-0.78%)

Oil (WTI): US$75.80 (+0.37%)

Oil (Brent): US$80.58 (+0.03%)

Iron 62pc Fe: US$133/t (-2.21%)

AUD/USD: 0.6538 (-0.40%)

Bitcoin: US$42,140 (-0.75%)

TRADING HALTS

These stocks went into trading halts yesterday and are expected out in the coming days:

Advanced Health Intelligence (ASX:AHI) – announcement of various potential funding solutions referred to in the company’s Quarterly Commentary

Regis Resources (ASX:RRL) – commencement of proceedings claiming a royalty applies to the Tropicana gold project

NeuRizer (ASX:NRZ) – update regarding amounts owing to DL E&C and negotiations to extend the payment date

Moab Minerals (ASX:MOM) – proposed acquisition

IODM (ASX:IOD) – a material revenue event

Metcash (ASX:MTS) – potential acquisition of Superior Food Group

Jayride Group (ASX:JAY) – capital raising

Unith (ASX:UNT) – capital raising

Silver Mines (ASX:SVL) – capital raising

Basin Energy (ASX:BSN) – material capital raising

Legacy Iron Ore (ASX:LCY) – material capital raising

BCI Minerals (ASX:BCI) – capital raising

Viridis Mining and Minerals (ASX:VMM) – capital raising

EP&T Global (ASX:EPX) – capital raising

RocketBoots (ASX:ROC) – capital raising

Linius Technologies (ASX:LNU) – capital raising

Yandal Resources (ASX:YRL) – capital raising

Bluechiip (ASX:BCT) – capital raising

WHAT GOT YOU TALKING YESTERDAY?

World #1 uranium producer Kazatomprom has just slashed 2024 production guidance. And you thought this market couldn’t get any hotter.

Boom! Kazatomprom $KAP 4Q23 Operations and Trading Update cuts #Kazakhstan‘s 2024 #Uranium Production Guidance from 25,300 tU (65.8M lbs #U3O8) to 21,750 tU (56.5M lbs) at -9.3M lbs below previous guidance (-14.2%) #Nuclear #SupplyCrunch https://t.co/OR3ox28Hn8 pic.twitter.com/R7bTI0KFCc

— John Quakes (@quakes99) February 1, 2024

Searching for a lithium bottom? Morgan’s says “the downcycle [is] largely played out, presenting some attractive opportunities”.

And this:

“…we expect lithium prices are nearing a floor, with the current rapid decline likely to moderate this half.”

Eye on Lithium: ‘Downcycle largely played out’, says Morgans, eyeing PLS, MIN as buys in turbulent lithium environment and LTR a cautious hold. Stockhead > https://t.co/RsFlzRScjS

— Stockhead (@StockheadAU) February 1, 2024

Keep up to date with Stockhead coverage or you’ll miss gold like that EVERY DAY. Follow our Twitter page.

Also, be sure to check in at preopen each day for ‘Market Highlights and 5 ASX Small Caps to Watch’, and 10.40am for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.

YESTERDAY’S ASX SMALL CAP LEADERS

Here are Thursday’s best performing ASX small cap stocks:

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

Code Company Price % Volume MARKET CAP MRC Mineral Commodities 0.028 87% 416,193 $14,767,089 SHG Singular Health 0.15 60% 5,943,163 $13,283,165 BPM BPM Minerals 0.12 50% 2,097,437 $5,369,777 GES Genesis Resources 0.006 50% 85,650 $3,131,365 M4M Macro Metals Limited 0.003 50% 500,000 $4,934,156 CPO Culpeominerals 0.072 47% 28,271,880 $6,653,746 RDM Red Metal Limited 0.13 35% 7,387,398 $28,639,040 POD Podium Minerals 0.031 29% 4,111,249 $10,913,923 OSL Oncosil Medical 0.009 29% 12,438,445 $13,821,788 TMG Trigg Minerals Ltd 0.009 29% 41,671 $2,623,293 CTN Catalina Resources 0.005 25% 50,000 $4,953,948 GBZ GBM Rsources Ltd 0.01 25% 4,797,451 $5,851,463 HCD Hydrocarbon Dynamic 0.005 25% 200,000 $3,078,664 ROG Red Sky Energy. 0.005 25% 38,001 $21,208,909 TML Timah Resources Ltd 0.045 25% 873 $3,195,351 COB Cobalt Blue Ltd 0.175 21% 765,556 $54,492,017 DGR DGR Global Ltd 0.018 20% 128,699 $15,655,402 GCX GCX Metals Limited 0.042 20% 795,893 $8,252,254 SPX Spenda Limited 0.018 20% 19,452,063 $64,686,867 ASR Asra Minerals Ltd 0.006 20% 2,957,549 $8,182,479 IBG Ironbark Zinc Ltd 0.006 20% 1,207,148 $7,969,363 NET Netlinkz Limited 0.006 20% 485,372 $19,392,242 NSM Northstaw 0.048 20% 65,417 $5,595,031 GSM Golden State Mining 0.013 18% 352,003 $3,073,077 HIQ Hitiq Limited 0.02 18% 1,521,553 $5,981,364

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Red Metal (ASX:RDM) says the Sybella rare earths discovery in Queensland is a heap leachable source of rare earth oxide (REO) minerals “with the potential for highly competitive capital and operating costs”.

Heap leaching is a low-cost process whereby a mound of ore is irrigated with acid to dissolve the metal, which is collected in a pond or tank.

Medical tech company Singular Health Group (ASX:SHG) received a binding purchase order worth about $150,000.

And a double banger for cancer fighter Oncosil (ASX:OSL) as it inks new distribution rights for the OncoSil device in the Turkish market and fields growing demand from German hospitals.

YESTERDAY’S ASX SMALL CAP LAGGARDS

Here are Thursday’s worst performing ASX small cap stocks:

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

Code Company Price % Volume MARKET CAP DXN DXN Limited 0.001 -50% 3,484,622 $5,546,680 VPR Volt Power Group 0.001 -50% 535,709 $21,432,416 IBX Imagion Biosys Ltd 0.11 -35% 642,325 $5,549,914 KGD Kula Gold Limited 0.006 -33% 27,453,467 $3,808,907 RR1 Reach Resources Ltd 0.002 -33% 5,883,892 $9,630,891 AUK Aumake Limited 0.003 -25% 6,259 $7,657,627 JTL Jayex Technology Ltd 0.006 -25% 2,921,691 $2,250,228 KPO Kalina Power Limited 0.003 -25% 29,652 $8,840,512 PKO Peako Limited 0.003 -25% 224,000 $2,108,339 TSI Top Shelf 0.21 -24% 163,551 $57,179,612 AUR Auris Minerals Ltd 0.007 -22% 600,000 $4,289,634 ARD Argent Minerals 0.008 -20% 4,651,423 $12,917,590 BFC Beston Global Ltd 0.008 -20% 16,920,839 $19,970,469 LSR Lodestar Minerals 0.002 -20% 1,267,500 $5,058,493 NAE New Age Exploration 0.004 -20% 119,628 $8,969,495 RLC Reedy Lagoon Corp. 0.004 -20% 41,570 $3,097,704 VML Vital Metals Limited 0.004 -20% 22,124,047 $29,475,335 WEL Winchester Energy 0.002 -20% 100,000 $2,551,055 IR1 Irismetals 0.565 -19% 536,579 $90,639,487 NGS NGS Ltd 0.013 -19% 1,288,993 $4,019,638 RSH Respiri Limited 0.022 -19% 188,615 $28,616,461 EXL Elixinol Wellness 0.009 -18% 1,518,365 $6,961,588 STN Saturn Metals 0.135 -18% 690,079 $36,852,784 AXN Alliance Nickel Ltd 0.032 -18% 92,095 $28,307,745 CAZ Cazaly Resources 0.019 -17% 1,351,507 $10,456,635

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Kula Gold (ASX:KGD) says recent drilling at the Cobra prospect failed to hit economic lithium mineralisation.

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