Good morning everyone, and welcome to 26 March, 2024 – an important day on the calendar for people of the Mormon faith, as it was on this day in 1820 that Joseph Smith had his “First Visions” while praying in the woods in New York.
The story goes that Smith was in the process of asking God which church he should join, when he felt himself overcome by a dark power. Crying out to the heavens for help, Smith said he was visited by a bright light, and “two personages” who “defied description”, who explained to him that all the other churches had it wrong, and that he would be the vessel through which the true Testament would be relayed.
From there, things get a bit unusual, but in the interests of not upsetting anyone, I’ll leave the commentary there – it’s probably best to hedge my bets on this topic, anyway.
I’d hate to shuffle off suddenly and have to explain to Whoever Is In Charge why I thought terrible things about how utterly bonkers these religious origin stories are.
To help us all be at peace with each other, and the universe, and – most importantly – the market this morning, we’ve got some fabulous stories from the Stockhead team.
Stories like: Dale Henderson’s downstream ambitions, Goldman Sachs joins the copper bulls, and is that a 150pc slice of miner upside?
And, as always there’s words and numbers down below for you to scour now and then regurgitate like a proper latter day saint, and be the oracle among your friends and colleagues when the markets open this morning.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,167.40 (+0.07%)
Silver: US$24.57 (-0.28%)
Nickel (3mth): US$17,149/t (-1.60%)
Copper (3mth): US$8,740.65/t (-1.49%)
Oil (WTI): US$81.05 (+0.30%)
Oil (Brent): US$85.82 (+0.30%)
Iron 62pc Fe: US$110.64/t (-0.27%)
AUD/USD: 0.6522(-0.05%)
Bitcoin: US$67,157.80 (-0.47%)
WHAT GOT YOU TALKING
If you missed the memo on Resources yesterday, here’s your chance to catch up before it all kicks off again today.
#ASX #resources winners:
@VenusMetals ( $VMC) stood out with some notable #WA #lithium results
But it’s #copper + #uranium narratives elsewhere, led by $NRX and $AKN
While things are afoot over in the Middle East for $AKN and $AUQ https://t.co/GihksRPhQs
— Stockhead (@StockheadAU) March 25, 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 Name Price % Change Volume Market Cap JAV Javelin Minerals Ltd 0.15 50.00 10,416,017 $2,176,231 REZ Resourc & En Grp Ltd 1.10 37.50 3,282,511 $3,998,446 NRX Noronex Limited 1.45 31.82 35,138,891 $5,153,249 JPR Jupiter Energy 2.10 31.25 11,600 $20,378,435 AXE Archer Materials 60.50 28.72 7,094,978 $119,778,096 CGR Cgnresourceslimited 29.50 28.26 2,198,909 $20,878,984 VIT Vitura Health Ltd 20.00 25.00 568,971 $92,139,806 1CG One Click Group Ltd 1.00 25.00 335,722 $5,505,431 CZN Corazon Ltd 1.00 25.00 1,987,051 $4,924,783 ESR Estrella Res Ltd 0.50 25.00 3,967,105 $7,037,487 FAU First Au Ltd 0.25 25.00 370,000 $3,323,987 MCT Metalicity Limited 0.25 25.00 14,640,716 $8,970,108 MEA McGrath Ltd 58.50 24.47 3,310,166 $74,813,429 GLV Global Oil & Gas 3.70 23.33 12,150,229 $16,720,010 SGC Sacgasco Ltd 1.10 22.22 1,322,532 $7,017,184 MPP Metro Perf.Glass Ltd 16.50 22.22 37,018 $25,026,042 VMS Venture Minerals 2.30 21.05 9,792,667 $43,066,914 IBG Ironbark Zinc Ltd 0.60 20.00 6,945,647 $7,969,363 INP Incentiapay Ltd 0.60 20.00 428,866 $6,219,650 NWF Newfield Resources 13.00 18.18 103,765 $100,177,321 AN1 Anagenics Limited 1.30 18.18 492,063 $4,610,461 EOF Ecofibre Limited 10.50 16.67 155,353 $34,098,651 SRL Sunrise 66.50 16.67 121,513 $51,429,674 BFC Beston Global Ltd 0.70 16.67 905,280 $11,982,281 M4M Macro Metals Limited 0.70 16.67 42,275,172 $19,392,401
Yesterday’s Small Cap Winners included:
Top of the news-making winners was Venus Metals (ASX:VMC), charging more than +20% on news that drilling at its 100%-owned Youanmi lithium project has confirmed that the company has, in fact, hit a significant, high-grade lithium deposit, with some of the best results coming at or near surface. Top intersections such as 24m @ 1.71% Li2O, including 14m @ 2.54% Li2O from 0-14m, and 15m @ 1.34% Li2O, including 8m @ 2.19% Li2O from 0-8m have the team pretty excited.
McGrath (ASX:MEA) was up 25% after founder and CEO John McGrath struck a 60c/share takeover deal with a consortium of global real estate consultancy Knight Frank and New Zealand’s largest private held real estate agency Bayleys.
Likewise, MMA Offshore (ASX:MMA) rose 10% after getting a buyout proposal from Cyan, a subsidiary of Cyan Renewables, for a cash amount of $2.60 per MMA share.
Archer Materials (ASX:AXE) also enjoyed a boost on news that it and research partner PFL have developed a pulsed electron spin resonance chip, advancing Archer’s 12CQ quantum technology project.
Auking Mining (ASX:AKN) has signed a memorandum of understanding with Saudi operator Barg Alsaman Mining Company – a subsidiary of the expansive Segia Gulf Group – for the purpose of jointly exploring and developing mineral projects in the Kingdom of Saudi Arabia.
Argenica Therapeutics (ASX:AGN) jumped +15% on the back of an FDA-related announcement. The brain tissue focused biotech says the US FDA has granted its neuroprotective drug ARG-007 a Rare Pediatric Disease Designation (RPDD) for the treatment of Hypoxic Ischaemic Encephalopathy (HIE) in newborn term infants. An RPDD is given by the FDA to those drugs that show promise in preventing, diagnosing or treating a rare disease or condition in the pediatric population (children 18 years and younger).
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 Name Price % Change Volume Market Cap AXP AXP Energy Ltd 0.10 -50.00 10,107,445 $11,649,361 RMX Red Mount Min Ltd 0.10 -50.00 3,400,000 $5,347,152 RFT Rectifier Technolog 2.00 -44.44 15,881,605 $49,751,422 ADX ADX Energy Ltd 12.00 -36.84 16,931,896 $81,478,288 SIH Sihayo Gold Limited 0.10 -33.33 350,000 $18,306,384 SIT Site Group Int Ltd 0.20 -33.33 20,000 $7,807,471 SKN Skin Elements Ltd 0.30 -25.00 196,151 $2,357,944 AKG Academies Aus Grp 19.00 -22.45 93,425 $32,490,544 IS3 I Synergy Group Ltd 0.70 -22.22 118,000 $2,736,723 BSX Blackstone Ltd 6.00 -20.00 413,403 $39,312,834 TZL TZ Limited 2.00 -20.00 351,190 $6,418,953 CNJ Conico Ltd 0.20 -20.00 860,854 $3,925,237 GMN Gold Mountain Ltd 0.40 -20.00 50,090,909 $14,877,528 ROG Red Sky Energy. 0.40 -20.00 1,073,395 $27,111,136 OLL Openlearning 1.70 -19.05 633,529 $5,625,251 EOS Electro Optic Sys. 170.00 -18.27 2,570,950 $356,170,892 EVR Ev Resources Ltd 0.90 -18.18 44,747,346 $14,533,986 AQX Alice Queen Ltd 0.50 -16.67 10,328 $4,145,905 GCM Green Critical Min 0.50 -16.67 240,000 $6,819,510 GTI Gratifii 0.50 -16.67 5,223,143 $8,215,336 HHR Hartshead Resources 0.50 -16.67 29,430,684 $16,852,093 IPB IPB Petroleum Ltd 1.00 -16.67 300,000 $6,781,469 LNR Lanthanein Resources 0.25 -16.67 2,227,792 $5,864,727 OAR OAR Resources Ltd 0.25 -16.67 4,784,000 $7,959,933 RML Resolution Minerals 0.25 -16.67 2,000,000 $3,779,990
TRADING HALTS
Environmental Clean Technologies (ASX:ECT) – pending the release of an announcement in relation to a capital raising.
Brightstar Resources (ASX:BTR) – pending an announcement concerning a capital raising.
Entyr (ASX:ETR) – pending an announcement to the market regarding financial and strategic matters.
Prodigy Gold (ASX:PRX) – pending an announcement to the market in relation to a capital raising.
Hastings Technology Metals (ASX:HAS) – pending finalisation of underwriting arrangements in relation to a capital raising.
Amaero International (ASX:3DA) – pending an announcement in relation to an equity capital raising and the finalisation of a material contract.
Black Rock Mining (ASX:BKT) – to allow a capital raising to take place in an orderly fashion.
Barton Gold (ASX:BGD) – pending an announcement to the market in relation to a capital raising.
Clarity Pharmaceuticals (ASX:CU6) – pending the planning and preparation for, and an announcement in relation to, an equity raising.
Vintage Energy (ASX:VEN) – pending an announcement by Vintage in relation to a proposed equity raising.
Future Battery Minerals (ASX:FBM) – pending the release of an announcement in relation to a capital raising.
The post Rise and Shine: Everything you need to know before the ASX opens appeared first on Stockhead.
