On Stockhead today, we made Rob Badman travel 1.5km underground so you wouldn’t have to. (Also because he’s the shortest.) And Nadine McGrath’s had a look at which directors are buying into their own games.
But first the day ahead.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,182.58/oz (+0.23%)
Silver: US$24.36/oz (+0.25%)
Nickel (3mth): US$18,001/t (+0.16%)
Copper (3mth): US$8,579.50/t (-0.71%)
Oil (WTI): US$78 (0%)
Oil (Brent): US$82.22 (+0.12%)
Iron 62pc Fe: US$117.50/t (-0.84%)
AUD/USD: 0.6618 (-0.13%)
Bitcoin: US$71,299 (+2.70%)
TRADING HALTS
These stocks went into trading halts yesterday and are expected out in the coming days:
Black Dragon Gold Corp (ASX:BDG) – placement
Kingsland Minerals (ASX:KNG) – Maiden resource at the Leliyn graphite project
Mt Malcolm Mines NL (ASX:M2M) – anomalous, high grade ore results
Mighty Kingdom (ASX:MKL) – capital raising
Dimerix (ASX:DXB) – capital raising
WHAT GOT YOU TALKING YESTERDAY?
In December, Aussie crypto exchange bosses prophesied ‘an awesome ride’ for crypto in 2024.
Since then, Bitcoin has gained almost 50%, or US$23,250.
BREAKING:
*BITCOIN RISES ABOVE $71,000 TO HIT A NEW RECORD HIGH#BTC #BITCOIN pic.twitter.com/3lmsF8ZBeW
— Investing.com (@Investingcom) March 11, 2024
Meanwhile, gold is also ripping higher.
Gold price just hit $3300 Aud
— West_Perth_Ponderer (@ASX_invest) March 11, 2024
When will stocks wake up?
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 Monday’s best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Volume Market Cap RR1 Reach Resources Ltd 0.004 100% 67,247,954 $6,420,594 TSK Task Group Holdings 0.765 91% 8,919,114 $142,515,309 INP Incentiapay Ltd 0.007 75% 1,659,484 $4,975,720 IS3 I Synergy Group Ltd 0.014 56% 2,612,078 $2,736,723 MAG Magmatic Resrce Ltd 0.09 45% 5,760,174 $18,952,953 ESR Estrella Res Ltd 0.005 43% 15,063,597 $6,157,802 BTN Butn Limited 0.13 34% 33,698 $17,752,804 AHN Athena Resources 0.004 33% 379,907 $3,211,403 NYR Nyrada Inc. 0.1025 28% 8,470,585 $12,480,696 1TT Thrive Tribe Tech 0.028 27% 1,739,914 $6,525,673 MCT Metalicity Limited 0.0025 25% 400,000 $8,970,108 NAE New Age Exploration 0.005 25% 955,000 $7,175,596 TMR Tempus Resources Ltd 0.005 25% 100,000 $2,923,995 TMX Terrain Minerals 0.005 25% 4,901,130 $5,726,683 MX1 Micro-X Limited 0.1275 21% 1,437,459 $54,476,139 BMR Ballymore Resources 0.12 20% 54,784 $17,633,059 OAU Ora Gold Limited 0.006 20% 108,322 $28,700,004 TX3 Trinex Minerals Ltd 0.006 20% 1,000,000 $7,435,123 CR1 Constellation Res 0.13 18% 60,000 $5,489,597 SGA Sarytogan 0.26 18% 1,648,875 $16,928,980 NGS NGS Ltd 0.013 18% 819,814 $2,763,501 SPQ Superior Resources 0.013 18% 7,393,387 $22,013,425 DAL Dalaroo Metals 0.02 18% 326,566 $1,406,750 IKE Ikegps Group Ltd 0.445 17% 24,283 $60,892,331
US based PARTech lobbed an 81c a pop offer at hospitality tech stock Task Group Holdings (ASX:TSK) which is easily double its closing price of just under 39c on Friday last week.
Aspiring WA lithium major Delta (ASX:DLI) will pay up to ~$13m over the next several years to earn into neighbouring ground owned by minnow Reach Resources (ASX:RR1).
RR1 gained ~100% in the news.
“To receive $3.2M cash up front, and a further $10M cash/script if a successful JORC mineral resource delineation of equal to or greater than 7.5Mt at 0.8% Li2O (at a 0.5% cut off grade) is achieved, is a great result during these difficult market conditions,” RR1 CEO Jeremy Bower says.
Small cap explorer Terrain Minerals (ASX:TMX) returned “highly encouraging” rare earth and gallium drill results from the first batch of assays at Larin’s Lane project in the Midwest region of WA.
With only 4 of 101 holes fully assayed TMX has returned hits like 13m at 1069ppm rare earths from 80m, and 20m at 48g/t gallium from 4m.
Used in semiconductors and other tech, gallium hit headlines after world’s largest producer China announced export controls last year.
This has boosted prices for the obscure metal, which was paying US$755.80/kg in January 2024, up from US$640.80/kg in January 2023.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are Monday’s worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Volume Market Cap AXP AXP Energy Ltd 0.001 -50% 275,510 $11,649,361 JAV Javelin Minerals Ltd 0.001 -50% 276,539 $4,352,462 NAG Nagambie Resources 0.015 -40% 5,884,100 $19,915,892 LRL Labyrinth Resources 0.004 -33% 1,870,619 $7,125,262 FTL Firetail Resources 0.041 -29% 3,419 $8,636,522 CT1 Constellation Tech 0.0015 -25% 200 $2,949,467 MRD Mount Ridley Mines 0.0015 -25% 995,624 $15,569,766 MTL Mantle Minerals Ltd 0.0015 -25% 6,256,753 $12,394,892 NES Nelson Resources 0.003 -25% 4,285,277 $2,454,377 VPR Volt Power Group 0.0015 -25% 532,739 $21,432,416 LML Lincoln Minerals 0.005 -23% 1,330,460 $11,076,294 EEL Enrg Elements Ltd 0.007 -22% 175,000 $9,089,685 CKA Cokal Ltd 0.075 -21% 3,180,772 $102,500,153 LYK Lykos Metals 0.027 -21% 81,214 $6,404,089 HTM High-Tech Metals Ltd 0.12 -20% 10,641 $3,712,723 CTN Catalina Resources 0.004 -20% 419,525 $6,192,434 CTO Citigold Corp Ltd 0.004 -20% 5,796,825 $15,000,000 EDE Eden Inv Ltd 0.002 -20% 14,020 $9,195,678 VML Vital Metals Limited 0.004 -20% 703,297 $29,475,335 BEX Bikeexchange Ltd 0.45 -20% 8,521 $10,437,450 BNZ Benz Mining 0.11 -19% 109,704 $15,022,526 LSA Lachlan Star Ltd 0.045 -17% 145,410 $11,208,953 AMM Armada Metals 0.015 -17% 12,750 $3,744,000 PKD Parkd Ltd 0.025 -17% 180,000 $3,120,416 AQX Alice Queen Ltd 0.005 -17% 470,810 $4,145,905
Nagambie Resources’ (ASX:NAG) plan to make money storing PASS (Potential Acid Sulfate Soil) from Victoria’s North East Link project (NELP) has been stymied, with its bid as preferred tender unsuccessful.
And it looks like infamous Perth broker Jason Peterson is now a substantial holder in European explorer Lykos Metals (ASX:LYK) after acquiring a ~7% stake.
The post Rise and Shine: Everything you need to know before the ASX opens appeared first on Stockhead.
