Rise and Shine: Everything you need to know before the ASX opens

Good morning everyone, and welcome to Friday, 3 November.

On Stockhead today…

There is little doubt that renewable energy holds the key to Australia’s push to achieve net zero, which goes a long way towards why the Australian Renewable Energy Agency (ARENA) has approved record funding towards projects aimed at accelerating the transition. But is this funding sufficient to drive greater adoption of renewables and energy storage? Bevis Yeo has more.

Are we nearing the bottom of this bear market for junior resources companies? Now it’s early November and judging by the October we just had… the question still begs. Rob Badman gives us the top 3 belters.

But first..

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$1,978.90 (-0.19%)

Silver: US$22.61 (-1.28%)

Nickel (3mth): US$18,489/t (+0.63%)

Copper (3mth): US$8,140.50/t (+0.51%)

Oil (WTI): US$80.92 (-0.10%)

Oil (Brent): US$85.24 (+0.27%)

Iron 62pc Fe: US$118.91/t (+0.18%)

AUD/USD: 0.6330 (-0.14%)

Bitcoin: US$34,388 (+0.21%)

WHAT GOT YOU TALKING

A little more than six months after joining the Quebec lithium party, Fin Resources (ASX: FIN) has identified another batch of spodumene crystals at its Cancet West project no more than 250m away from the previous discovery outcrop. The discovery was made by Fin’s in-country consultant Mercator Geological Services during recent follow-up field work.

Alvo Minerals (ASX:ALV) surged yesterday after testing proves that the Bluebush project in Brazil is a highly sought-after ionic adsorption clay-hosted rare earths deposit. Not all clay rare earths deposits are created equal. The best ones have a substantial ionic portion, which can be ostensibly easily, quickly, and cheaply leached out in a low/zero acid solution.

And this…

Rio Tinto-backed Sovereign Metals has commenced a pivotal bulk sampling program at its 1.8 billion tonne Kasiya project in Malawi to provide potential customers with product samples. https://t.co/fkgbKUyo7a #ad #ASX @sovereignmetals

— Stockhead (@StockheadAU) November 2, 2023

YESTERDAY’S ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks:

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Code Company Price % Volume Market Cap WYX Western Yilgarn NL 0.12 50% 459,638 $3,972,600 MTH Mithril Resources 0.0015 50% 1,238,595 $3,368,804 RBR RBR Group Ltd 0.003 50% 8,061,599 $3,236,809 VPR Volt Power Group 0.0015 50% 75,870 $10,716,208 ZNC Zenith Minerals Ltd 0.12 46% 662,355 $28,895,232 DCL Domacom Limited 0.02 43% 561,796 $6,097,025 ME1 Melodiol Glb Health 0.004 33% 16,174,458 $11,487,311 NOX Noxopharm Limited 0.13 30% 1,994,119 $29,223,795 ALV Alvomin 0.23 28% 918,203 $16,763,457 EXT Excite Technology 0.0075 25% 1,876,329 $7,255,450 CHK Cohiba Min Ltd 0.0025 25% 256,666 $4,426,488 EDE Eden Inv Ltd 0.0025 25% 261,192 $6,727,274 FAU First Au Ltd 0.0025 25% 1,033,333 $2,903,987 IS3 I Synergy Group Ltd 0.01 25% 1,050,362 $2,312,643 HOR Horseshoe Metals Ltd 0.011 22% 2,109,599 $5,791,308 QUE Queste Communication 0.029 21% 19,879 $649,736 AU1 The Agency Group Aus 0.036 20% 685,212 $12,857,298 K2F K2Fly Ltd 0.084 20% 245,340 $12,272,036 IVX Invion Ltd 0.006 20% 465,876 $32,108,161 NRX Noronex Limited 0.012 20% 693,903 $3,783,018 RIE Riedel Resources Ltd 0.006 20% 689,000 $10,297,035 FME Future Metals NL 0.037 19% 20,123 $12,809,325 AW1 Americanwestmetals 0.125 19% 1,582,818 $38,933,793 CGR Cgnresourceslimited 0.25 19% 3,145,816 $19,063,420 LU7 Lithium Universe Ltd 0.044 19% 5,732,032 $14,375,310

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Yesterday’s Small Caps highlights:

Ending the session at No.1 was the unlikely Zenith Minerals (ASX:ZNC), which had been climbing all day.

It can’t just be because non-executive director Andrew Bruton and executive chair David Ledger ‘sent a notification’ to say they were out and off to do something else. The market has taken this news extremely well. Up 22%.

The stock price of investments platform DomaCom (ASX:DCL) soared on Thursday on the back of a non-binding Memorandum of Understanding with Super Fierce – “Australia’s premier superannuation advice technology platform”.

The big sell of the alliance would seem to be that the DomaCom platform will introduce residential property investments for Aussie super members via Super Fierce’s technology.

Meanwhile, Noxopharm (ASX:NOX)just continues to surge after announcing in early October that the US FDA has has granted Orphan Drug Designation (ODD) status to Noxopharm’s CRO-67 preclinical drug candidate, for the treatment of pancreatic cancer.

The stock is up another 25% at lunchtime.

Also read: mRNA is the next big thing in medicine. Here’s why Noxopharm could be the ASX front runner in this field

YESTERDAY’S ASX SMALL CAP LAGGARDS

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume Market Cap MGT Magnetite Mines 0.008 -76% 137,359 $690,885 CLE Cyclone Metals 0.001 -33% 2,981,860 $15,396,757 EMU EMU NL 0.001 -33% 220,000 $2,501,282 MXCDA Mgc Pharmaceuticals 0.49 -30% 24,477 $3,121,718 CCE Carnegie Cln Energy 0.0015 -25% 11,883 $31,285,147 HTG Harvest Tech Grp Ltd 0.021 -25% 3,495,664 $19,780,973 SEG Sports Ent Grp Ltd 0.18 -22% 2,105 $60,055,766 BNR Bulletin Res Ltd 0.1425 -21% 6,301,393 $52,846,398 8IH 8I Holdings Ltd 0.016 -20% 162,032 $7,147,120 GTG Genetic Technologies 0.002 -20% 150,000 $28,854,145 SHO Sportshero Ltd 0.016 -20% 815,903 $11,500,022 SIS Simble Solutions 0.004 -20% 802,000 $3,014,754 XST Xstate Resources 0.013 -19% 801,900 $5,144,306 BRU Buru Energy 0.13 -19% 766,389 $95,366,894 GMN Gold Mountain Ltd 0.005 -17% 2,254,292 $13,614,472 MEM Memphasys Ltd 0.01 -17% 4 $11,514,245 MRQ Mrg Metals Limited 0.0025 -17% 1,500,000 $6,617,756 NHE Nobleheliumlimited 0.18 -16% 14,335,612 $55,551,582 SSR SSR Mining Inc. 18.3 -15% 474,181 $478,216,415 VR1 Vection Technologies 0.028 -15% 4,362,119 $37,177,436 BEX Bikeexchange Ltd 0.006 -14% 300,000 $10,028,408 BFC Beston Global Ltd 0.006 -14% 100,000 $13,979,328 KGL KGL Resources Ltd 0.12 -14% 177,855 $79,420,861 SGC Sacgasco Ltd 0.006 -14% 3,532,183 $5,415,079 SKN Skin Elements Ltd 0.006 -14% 569,769 $3,986,403

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TRADING HALTS

Bowen Coking Coal (ASX:BCB) – Pending an announcement by the Company concerning a capital raising.

Lithium Plus Minerals (ASX:LPM) – To assist the company in managing its continuous disclosure obligations as the company expects to make an announcement to the market regarding a share placement

Copper Search (ASX:CUS) – Capital raising and pending an announcement

The post Rise and Shine: Everything you need to know before the ASX opens appeared first on Stockhead.