On Stockhead today, 10 cheap copper stocks ready for the run, and China’s got a sub-$10k EV.
But first, the day ahead.
MARKET CALENDAR: THURSDAY
The February labour force survey is released today, with Commonwealth Bank boffins predicting the creation of 45,000 jobs for the month.
“The unemployment rate could ease from near two-year highs of 4.1 per cent to 4.0 per cent with the labour force participation rate at all-time highs of 66.8 per cent,” it says.
Trading updates are also due from construction stock Brickworks (ASX:BKW) and pharmacy operator Sigma Healthcare (ASX:SIG).
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,154.62/oz (-0.12%)
Silver: US$24.84/oz (-0.26%)
Nickel (3mth): US$17,395/t (-2.67%)
Copper (3mth): US$8,976.50/t (-1.24%)
Oil (WTI): US$82.10 (-0.75%)
Oil (Brent): US$86.89 (-0.59%)
Iron 62pc Fe: US$108.50/t (+3.83%)
AUD/USD: 0.6523 (-0.08%)
Bitcoin: US$63,063 (-1.07%)
TRADING HALTS
These stocks went into trading halts yesterday and are expected out in the coming days:
Opyl (ASX:OPL) – receipt of a non-binding offer to acquire the Opin business from the company
Pentanet (ASX: 5GG) – capital raising
Askari Metals (ASX:AS2) – capital raising
Red Mountain Mining (ASX:RMX) – capital raising
WHAT GOT YOU TALKING YESTERDAY?
Are manganese prices about to get a much-needed boost?
Manganese Macro #ASX S32‘s Groote Eylandt port was damaged the other day and manganese mining has stopped. We don’t know for how long. There are sufficient stockpiles for a few weeks in China, but longer delays will create significant manganese shortages. Manganese prices are…
— Euroz Hartleys (@EurozHartleys) March 20, 2024
Meanwhile, uranium ….
#Uranium price retreat an “attractive entry point” for investors says Sprott. https://t.co/oDiEKnYW9i
— Stockhead (@StockheadAU) March 20, 2024
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Also, be sure to check Stockhead 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 SMALL CAP LEADERS
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Volume Market Cap RIL Redivium Limited 0.005 67% 12,195,807 $8,192,564 ADS Adslot Ltd 0.003 50% 3,000,000 $6,448,991 LRD Lord Resources 0.076 49% 25,840,382 $1,893,738 LIO Lion Energy Limited 0.036 44% 30,604,108 $10,924,444 PLG Pearl Gull Iron 0.034 36% 285,984 $5,113,545 SRX Sierra Rutile 0.105 35% 9,253,036 $33,090,443 SOV Sovereign Cloud Holdings 0.044 34% 110,936 $11,126,776 AVE Avecho Biotech Ltd 0.004 33% 12,908,653 $9,507,891 AVD Avada Group Limited 0.65 31% 135,165 $42,042,837 BEO Beonic Ltd 0.026 30% 214,805 $8,489,899 SCN Scorpion Minerals 0.039 30% 3,358,893 $12,283,686 PBL Parabellum Resources 0.069 28% 79,199 $3,364,200 COD Coda Minerals Ltd 0.14 27% 175,151 $15,660,851 DME Dome Gold Mines Ltd 0.19 27% 457 $54,682,304 KNB Koonenberry Gold 0.03 25% 16,700 $3,305,075 ECT Env Clean Tech Ltd 0.005 25% 221,245 $11,457,242 SGC Sacgasco Ltd 0.01 25% 1,069,605 $6,237,497 PEK Peak Rare Earths Ltd 0.23 24% 1,829,578 $49,199,226 1AI Algorae Pharma 0.011 22% 889,391 $14,952,172 MXO Motio Ltd 0.028 22% 40,000 $6,168,562 ASM Ausstrat Materials 1.19 20% 745,489 $165,124,062 AQX Alice Queen Ltd 0.006 20% 1,425,872 $3,454,921 BLZ Blaze Minerals Ltd 0.006 20% 58,262 $3,142,791 GTI Gratifii 0.006 20% 1,162,240 $6,846,113 ABE Australian Bond Exchange 0.025 19% 59,388 $2,366,030
An unexceptional MinRes (ASX:MIN) farm-in deal was enough to power tightly held, $2m capped lithium explorer Lord Resources’ (ASX:LRD) to a strong daily gain.
If the deal goes ahead, serial lithium acquirer MIN will spend $1m on exploration to get an initial 40% of the early stage Horse Rocks project, near its 66Mt Mt Marion mine in WA.
Lion Energy (ASX:LIO) has development approval for its hydrogen generation and refuelling hub project at the Port of Brisbane, with construction to kick off Q2 this year.
The hub will initially focus on supplying hydrogen to domestic public bus fleets, truck fleets, and fuel cell gensets for the construction and mining industry.
Rare earths hopeful Peak Rare Earths (ASX:PEK) drilled into high grade fluorspar at its Ngualla project in Tanzania.
Fluorspar is mainly used in steel, iron, and aluminium production; refrigeration and air conditioning; fluorochemicals; nuclear uranium fuel; and oil refining.
Parabellum Resources (ASX:PBL) hit high-grade near-surface nickel-cobalt in drilling at the Miandetta-Redlands prospect in NSW.
And shareholders of troubled Iluka (ASX:ILU) mineral sands spinout Sierra Rutile (ASX:SRX) have been thrown a lifeline in the form of an unsolicited takeover offer.
PRM Services wants to acquire all SRX shares it does not own at a price of A$0.095 cash per share, which represents a 21.79% premium to the closing price of SRX shares on 19 March.
SRX – which has plummeted 56% in the last 12 months — says ‘take no action’ for the time being.
YESTERDAY’S SMALL CAP LAGGARDS
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Volume Market Cap CLZDC Classic Minerals 0.014 -72% 14,665,728 $12,890,085 AXP AXP Energy Ltd 0.001 -50% 662,170 $11,649,361 AYM Australia United Min 0.002 -33% 300,000 $5,527,732 JPR Jupiter Energy 0.016 -27% 203,462 $28,020,348 GMN Gold Mountain Ltd 0.003 -25% 10,596,184 $9,111,514 LNU Linius Tech Limited 0.0015 -25% 35,000 $10,393,481 CLV Clover Corporation 0.62 -23% 738,958 $134,434,470 PLC Premier1 Lithium Ltd 0.028 -22% 320,000 $6,284,667 S66 Star Combo 0.12 -20% 4,467 $20,262,447 ATH Alterity Therap Ltd 0.004 -20% 5,464,074 $26,190,089 ALA Arovella Therapeutic 0.125 -19% 8,034,951 $143,399,217 HPC The Hydration Company 0.013 -19% 180,000 $4,242,269 CG1 Carbonxt Group 0.072 -18% 325,633 $28,593,105 EQN Equinox Resources 0.175 -17% 728,368 $21,246,751 GSM Golden State Mining 0.01 -17% 210,029 $3,352,448 IVX Invion Ltd 0.005 -17% 21,043 $38,547,193 NGS NGS Ltd 0.01 -17% 561,591 $3,014,729 TIG Tigers Realm Coal 0.005 -17% 84,169 $78,400,214 BM8 Battery Age Minerals 0.105 -16% 1,293,028 $11,470,040 AMM Armada Metals 0.016 -16% 10,000 $3,952,000 ABX ABX Group Limited 0.056 -15% 427,575 $16,502,661 OMX Orange Minerals 0.023 -15% 100,000 $2,315,255 HHR Hartshead Resources 0.006 -14% 3,887,947 $19,660,775 MOZ Mosaic Brands Ltd 0.12 -14% 255,297 $24,990,902
Sales revenue plummeted 39% to $27.3m in the half year ending 31 January, says infant formula stock Clover Corp (ASX:CLV).
It blames declining global birth rates, a shift in Chinese manufacturing preferences towards algae DHA over fish DHA, and intensified competition in a shrinking market for continued sluggish demand.
Orange Minerals (ASX:OMX) drilled a bunch of dusters in a phase one 1000m program at the Eastern Gold Fields project.
Cancer fighter Arovella Therapeutics (ASX:ALA) says the partnership to combine its ALA‐101 platform and Imugene’s (ASX:IMU) onCARlytics platform has ended “with immediate effect”.
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