On Stockhead today,
Pilbara Minerals’ trendsetting lithium auction is back, baby! Can it heat up mild spodumene prices?
But first, the day ahead.
WHO’S LISTING?
IPO: $5m at 20c per share
Commences Trading: 11am Eastern Time Friday, March 15
The Northern Territory-focused junior explorer lists on the ASX with a handful of uranium and critical minerals exploration assets.
These include copper and uranium targets at the Mount Doreen tenement in the Arunta region, about 350km from Alice Springs, and the Lucy Creek manganese project in the Georgina Basin.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,170.60/oz (-0.23%)
Silver: US$25.01/oz (-0.08%)
Nickel (3mth): US$18,377/t (+2.03%)
Copper (3mth): US$8,653.00/t (+0.86%)
Oil (WTI): US$80.41 (+0.87%)
Oil (Brent): US$84.71 (+0.79%)
Iron 62pc Fe: US$107.00/t (-3.15%)
AUD/USD: 0.6625 (+0.09%)
Bitcoin: US$73,049 (-0.05%)
TRADING HALTS
These stocks went into trading halts yesterday and are expected out in the coming days:
C29 Metals Limited (ASX: C29) – material acquisition and capital raise
DigitalX Limited (ASX: DCC) – placement
PYC Therapeutics Limited (ASX: PYC) – capital raise
Enova Mining Limited (ASX: ENV) – significant exploration results for the recently announced CODA project acquisition
WHAT GOT YOU TALKING YESTERDAY?
Two bits of exciting news for beaten down lithium baggies.
One:
Big news if true for @LithiumAmericas #ThackerPass
David Deckelbaum of TD Cowen note below reiterating comments he made in recent #RockStockChannel interview flagging DOE loan as potential catalyst for $LAC to trade up to $8
$2B loan would be larger than expected. Has capex… pic.twitter.com/4btwpIjUMz
— Howard Klein (@LithiumIonBull) March 14, 2024
And two:
$PLS BMX not needed $1200 dmt pre auction sale
Spot is $1045 #lithium pic.twitter.com/xAjA6XSSca
— Mark Gardner (@markgardn) March 14, 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 ARU Arafura Rare Earths 0.2525 71% 49,287,576 $340,769,573 BP8 Bph Global Ltd 0.0015 50% 1,004,488 $1,954,116 AUK Aumake Limited 0.004 33% 162,216 $5,743,220 PPY Papyrus Australia 0.02 33% 35,252 $7,390,389 CVR Cavalierresources 0.175 30% 109,478 $4,296,904 CVV Caravel Minerals Ltd 0.19 27% 2,143,058 $78,641,970 M4M Macro Metals Limited 0.005 25% 18,722,601 $12,928,267 MCT Metalicity Limited 0.0025 25% 2,150,064 $8,970,108 PUR Pursuit Minerals 0.005 25% 7,486,153 $11,775,886 SLC Superloop Limited 1.3075 25% 14,785,592 $515,733,267 TRE Toubani Res Ltd 0.13 24% 137,000 $14,055,895 LM8 Lunnonmetalslimited 0.3 22% 54,961 $53,369,878 TEM Tempest Minerals 0.011 22% 6,301,990 $4,672,120 AIS Aeris Resources Ltd 0.14 22% 9,513,144 $111,265,437 BUS Bubalusresources 0.145 21% 541,727 $3,860,841 NTM Nt Minerals Limited 0.006 20% 875,463 $4,299,515 AQC Auspaccoal Ltd 0.095 19% 2,929,289 $41,037,407 CPO Culpeominerals 0.051 19% 5,683,427 $7,085,922 SPX Spenda Limited 0.013 18% 1,138,100 $47,569,036 PTR Petratherm Ltd 0.02 18% 2,100 $3,820,769 PNN Power Minerals Ltd 0.2 18% 120,253 $14,853,937 NXM Nexus Minerals Ltd 0.042 17% 800,657 $14,006,165 ICG Inca Minerals Ltd 0.007 17% 50,000 $3,526,958 CYP Cynata Therapeutics 0.18 16% 100,370 $27,842,927 8CO 8Common Limited 0.046 15% 92,650 $8,963,796
Arafura Rare Earths (ASX:ARU) has secured conditional Commonwealth Government approval for a US$533 million debt financing package to build its Nolans project in the Northern Territory.
Lobbing a mention of artificial intelligence into a release was enough to give $2m capped biotech BPH Global (ASX:BP8) a nice bump at Thursday’s open.
BP8 says it will “expand its seaweed research and development activities into essential mineral extraction utilising AI search technology”.
Superloop (ASX:SLC) is now providing wholesale internet services to two of Australia’s largest energy companies after inking a six-year contract with Origin Energy and its subsidiaries.
The contract is expected to add +$19m of annualised earnings once the current subscriber base is fully transitioned, it says.
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 MIO Macarthur Minerals 0.001 -67% 1,007,978 $99,752 SLZ Sultan Resources Ltd 0.014 -36% 9,913,971 $3,645,539 CYQ Cycliq Group Ltd 0.003 -25% 4,243,975 $1,430,067 SFG Seafarms Group Ltd 0.003 -25% 387,556 $19,346,397 VPR Volt Power Group 0.0015 -25% 346,898 $21,432,416 CTQ Careteq Limited 0.018 -25% 8,588,216 $5,653,135 MIO Macarthur Minerals 0.097 -22% 100,854 $20,781,686 NYR Nyrada Inc. 0.1025 -21% 3,710,065 $20,281,131 APX Appen Limited 0.765 -21% 21,948,216 $211,568,405 ASR Asra Minerals Ltd 0.004 -20% 122,500 $8,319,979 ECT Env Clean Tech Ltd. 0.004 -20% 68,525 $14,321,552 ESR Estrella Res Ltd 0.004 -20% 2,078,464 $8,796,859 ME1 Melodiol Glb Health 0.004 -20% 2,358,325 $1,964,980 NAE New Age Exploration 0.004 -20% 2,574,236 $8,969,495 VML Vital Metals Limited 0.004 -20% 2,333,538 $29,475,335 NME Nex Metals Explorat 0.017 -19% 198,399 $7,403,183 SKY SKY Metals Ltd 0.034 -19% 1,901,456 $19,378,720 RAS Ragusa Minerals Ltd 0.03 -19% 263,446 $5,276,155 ABB Aussie Broadband 3.52 -19% 8,821,411 $1,278,149,911 IMI Infinitymining 0.061 -19% 22,671 $8,906,504 DY6 Dy6Metalsltd 0.044 -17% 31,965 $2,093,279 OSX Osteopore Limited 0.3 -17% 94,084 $3,718,328 FGL Frugl Group Limited 0.005 -17% 1,009,300 $8,938,647 ODE Odessa Minerals Ltd 0.005 -17% 501,371 $6,259,695 PLN Pioneer Lithium 0.14 -15% 121,165 $4,690,125
Explorer Sultan Resources (ASX:SLZ) has completed a 2 hole drill program at the Calesi prospect in WA and, while assays are pending, “no visible support for magmatic nickel sulphides was observed”.
The Australian Tax Office (ATO) reckons healthtech Careteq (ASX:CTQ) was not entitled to almost $1.3m of tax offsets related to R&D claims over the past two years.
Should it be unable to substantiate its claim CTQ will have to pay back the money plus a $320,000 ‘administrative penalty’.
Meanwhile, Superloop’s gain mentioned above is Aussie Broadband’s (ASX:ABB) loss.
ABB says it received “unexpected notice” on the evening of 13 March 2024 that Origin Energy will terminate the White Label Wholesale Agreement with ABB effective 12 April 2024.
The post Rise and Shine: Everything you need to know before the ASX opens appeared first on Stockhead.
