Good morning everyone, and welcome to 23 February, 2024 – an important day in the world of Big Business, as it was on this day in 1782 that perenially grumpy Scotsman James Watt lodged the patent for his rotary-motion steam engine, and kick-started the industrial revolution that would end with a dead planet and billions of people killed.
Prior to this invention, steam engines would only produce energy that could be put to use in a straight line, which was hell for the people who were tasked with figuring out how much power each one could produce.
Getting the linear motion engines to run wasn’t the problem – it was getting all the horses they needed to calculate the horsepower to jump up and down at the same time that was the issue.
But, luckily, our boy James had a solution for that, too – and when asked how powerful his new rotary engine was, he loudly exclaimed “7,534 me’s”, before doing 20 brisk push-ups with his secretary sitting on his back and barely even breaking a sweat.
What a bright spark he was.
For your perusal on the site this morning, we have news from the World of Fine Wine, Eddy telling you how to understand ex-divvies, and a nice offset to that with a great piece on how to burn things in a green-friendly manner.
And, as always there’s words and numbers down below for you to scour now and then quote at your barista before the market opens later on this morning.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,030.09 (+0.21%)
Silver: US$232.96 (+0.31%)
Nickel (3mth): US$16,503.50/t (+2.03%)
Copper (3mth): US$8,456.35/t (+0.39%)
Oil (WTI): US$78.14 (+0.13%)
Oil (Brent): US$83.25 (+0.11%)
Iron 62pc Fe: US$127.30/t (-0.49%)
AUD/USD: 0.6567 (-0.01%)
Bitcoin: US$51,601.70 (-0.48%)
WHAT GOT YOU TALKING
Smiles all round in the world of lithium, apparently… especially if, like this guy, your teeth are made of lithium too.
Here’s the #ASX #lithium form guide. https://t.co/eTYXtaLhwY
— Stockhead (@StockheadAU) February 22, 2024
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 IEC Intra Energy Corp 0.003 50% 5,145,714 $3,381,563 TRI Trivarx Ltd 0.031 41% 5,079,485 $7,442,131 MSI Multistack International 0.007 40% 160,611 $681,520 SRZ Stellar Resources 0.009 29% 3,706,595 $8,043,185 EE1 Earths Energy Ltd 0.019 27% 15,356,821 $7,949,463 BRN Brainchip Ltd 0.43 26% 42,513,174 $613,976,993 PAA PharmAust Limited 0.3 25% 3,216,435 $92,756,771 ADG Adelong Gold Limited 0.005 25% 1,896,302 $2,798,623 CCO The Calmer Co Int 0.005 25% 1,563,328 $4,302,342 CTN Catalina Resources 0.005 25% 536,088 $4,953,948 PUR Pursuit Minerals 0.005 25% 301,743 $11,775,886 RMX Red Mount Min Ltd 0.0025 25% 3,962,000 $5,347,152 WML Woomera Mining Ltd 0.005 25% 1,298,114 $4,872,556 IIQ Inoviq Ltd 0.82 24% 847,739 $60,732,343 LBT LBT Innovations 0.016 23% 5,821,607 $16,390,609 FBR FBR Ltd 0.027 23% 11,417,948 $97,708,599 4DS 4Ds Memory Limited 0.12 22% 24,688,955 $172,757,822 RKT Rocketdna Ltd. 0.011 22% 31,473,908 $5,905,034 OEC Orbital Corp Limited 0.105 22% 671,424 $12,539,379 FOS FOS Capital Ltd 0.23 21% 137,690 $10,223,166 MAG Magmatic Resrce Ltd 0.03 20% 178,288 $7,642,320 88E 88 Energy Ltd 0.006 20% 118,431,568 $123,627,103 DOU Douugh Limited 0.006 20% 326,941 $5,410,345 FFF Forbidden Foods 0.012 20% 114,129 $2,018,605
Yesterday’s Small Cap Winners included:
It was all medtech talk here on the small end of the ASX on Thursday. First up we had a strong surge for PharmAust (ASX:PAA) which said it has engaged “globally renowned experts” in MND/ALS and rare neurodegenerative diseases to form a scientific advisory board (SAB) for the next stage of development of monepantel (MPL).
Monepantel is PAA’s lead candidate for the treatment of Motor Neurone Disease (MND)/Amyotrophic Lateral Sclerosis (ALS) and pipeline expansion activities in additional neurodegenerative diseases.
Still doing well was the other local medtech LBT Innovations (ASX:LBT) with the microbiology lab services and tech provider delivered its first homemade environmental monitoring tech (an APAS Independence instrument with APAS PharmaQC software) to a Thermo Fisher facility.
It’s the maiden recognised sale of the technology, according to CEO & managing director Brent Barnes, who says the delivery is six months ahead of schedule and LBT is primed to cash in on “the positive market interest” from pharmaceutical customers following initial market development activities completed 2H23.
Barnes says LBT has now established a “pipeline of potential early adopters” who’ve shown interest in the LBT tech which aims “to provide efficiencies and improve traceability within environmental monitoring workflows.”
Meanwhile, Way2VAT (ASX:W2V), was still sticking it to the man, up double digits again.
That’s made for a good five days on the bourse, since the riches began pouring in after last Friday’s launch of a new AI-driven automatic auditing system.
Other early movers with news out included 88 Energy (ASX:88E) which said its 20% working interest has been successfully transferred to the company as part of stage one of a three-stage farm-in deal for its Namibian petroleum exploration licence.
As well as Insignia Financial (ASX:IFL) which dropped a 1H statutory (NPAT) loss of $49.9m, which IFL says is down to strategic initiatives and remediation costs. But shareholders who came for the earnings, stayed for the upgraded outlook.
The wealth manager said in its ASX announcement that FY24 group net revenue margin is expected to be between 45.5-46 bps (previously 44.8-45.8 bps) while EBITA margin has increased as well, while in-year transformation costs and benefits remain on track.
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 AOA Ausmon Resorces 0.002 -33% 696,242.00 $3,176,998 GES Genesis Resources 0.004 -33% 164,207.00 $4,697,048 SYA Sayona Mining Ltd 0.046 -28% 367,922,628.00 $658,770,945 EXL Elixinol Wellness 0.006 -25% 3,661,613.00 $5,062,973 E33 East 33 Limited 0.018 -22% 289,600.00 $12,353,040 ICU Investor Centre Ltd 0.022 -21% 2,147,121.00 $8,489,545 MAF MA Financial Group 4.47 -20% 5,295,602.00 $1,002,224,778 LVE Love Group Global 0.1 -20% 41,666.00 $5,066,771 KGD Kula Gold Limited 0.008 -20% 1,909,730.00 $4,232,119 NES Nelson Resources 0.004 -20% 1,000,000.00 $3,067,972 SIT Site Group Int Ltd 0.002 -20% 186,525.00 $6,506,226 TMK TMK Energy Limited 0.004 -20% 443,787.00 $30,612,897 IXU Ixup Limited 0.028 -18% 71,904.00 $36,976,210 ADD Adavale Resource Ltd 0.005 -17% 11,661,500.00 $6,067,033 ASR Asra Minerals Ltd 0.005 -17% 640,409.00 $9,918,974 AYT Austin Metals Ltd 0.005 -17% 288,500.00 $7,711,148 BNL Blue Star Helium Ltd 0.01 -17% 7,818,142.00 $23,307,183 TML Timah Resources Ltd 0.042 -16% 2,917.00 $4,437,988 HPC The Hydration Company 0.016 -16% 371,956.00 $5,037,694 TRS The Reject Shop 4.54 -16% 106,476.00 $206,489,333 MTC Metalstech Ltd 0.165 -15% 1,014,184.00 $36,846,145 OCT Octava Minerals 0.05 -15% 185,000.00 $2,643,938 SRT Strata Investment 0.145 -15% 49,229.00 $28,802,008 AVE Avecho Biotech Ltd 0.003 -14% 862,645.00 $11,092,540 MIO Macarthur Minerals 0.12 -14% 18,712.00 $23,275,488
TRADING HALTS
Hillgrove Resources (ASX:HGO) – pending the announcement by Hillgrove of the outcome of a proposed capital raising.
Lifestyle Communities (ASX:LIC) – pending an announcement in connection with a fully underwritten pro rata accelerated non-renounceable entitlement offer.
Alterity Therapeutics (ASX:ATH) – pending an announcement in relation to a capital raise.
Australian Mines (ASX:AUZ) – pending the release of an announcement concerning a capital raising.
Inoviq (ASX:IIQ) – pending an announcement in relation to the results of its Breast Cancer Monitoring Study.
Island Pharmaceuticals (ASX:ILA) – pending an announcement to ASX regarding a capital raising.
Western Yilgarn (ASX:WYX) – pending an announcement in connection with a proposed capital raising.
Siren Gold (ASX:SNG) – pending an announcement in connection with a proposed capital raising.
Minbos Resources (ASX:MNB) – pending the release of an announcement in relation to a capital raising.
HeraMED (ASX:HMD) – pending an announcement to the market regarding a material new contract.
FirstWave Cloud Tech (ASX:FCT) – pending an announcement of a proposed material financing transaction that is under the final stages of review.
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