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

Good morning everyone, and welcome to 13 May, 2024 – a curious day in history for a few different reasons.

On this day in 942, Duke Henry of Saxony became King Henry I of Oostfrankischreich, much to the delight of his local calligrapher, who was at that point still charging by the letter, rather than by the word.

On this day in 1732, Swedish botanist Carl Linnaeus sets off from Uppsala on a six-month journey to Lapland, eventually returning to Sweden where he was promptly arrested for repeated attempts to demonstrate his destination’s rather raunchy indigenous dancing on unwilling Swedes.

And it was on this day in 1791 that Napoleon I of France conquered Venice after finally listening to his advisers and equipping his soldiers with life jackets, and providing reinforcements to his troops via a battalion of jet skis on loan from the the Ottoman governor of Lebanon, Aḥmad al-Jazzār.

Luckily for you, you’re unlikely to require a floatation device or an anachronistic watercraft to navigate the ASX this morning, as our team has been hard at work preparing some fabulous stories for you today.

That includes Part Two of Nadine McGrath’s look at how security is being handled to protect your money in this bold new digital age, and Josh Chiat’s musings on why the contrarian nickel players could be about to feel a warm, moist sense of vindication.

Plus, because no one else wanted to, I’ve dragged my sorry old butt out of bed on Sunday evening (despite the Big Fella Upstairs being very clear about how he feels about making people work on The Lord’s Day) to bring you all the data and digits and highlights listed below to help prep you for the day ahead, while I prep for an eternity burning in hell.

I sure hope it was worth it.

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$2,360.10 (+0.06%)

Silver: US$28.39 (+0.04%)

Nickel (3mth): US$18,723.00/t (+0.07%)

Copper (3mth): US$9,897/t (+0.09%)

Zinc: US$2,913.00/t (+1.93%)

Oil (WTI): US$78.19 (-1.34%)

Oil (Brent): US$87.74 (+0.61%)

Iron 62pc Fe: US$116.95/t (-0.03%)

AUD/USD: 0.6607 (+0.05%)

Bitcoin: US$60,818.60 (+0.01%)

WHAT GOT YOU TALKING

Come and get your head around the latest news from the Resources sector, featuring a photo of a guy who ignored the instructions on the ointment he bought for that rash on his goolies, and is now paying a terrible price.

Some of the biggest #ASX #resources #stocks winners in early trade today.

St Barbara Limited ( $SBM )
First Au Limited ( $FAU )
@perpetualPEC ( $PEC )
@BallymoreRes ( $BMR ) https://t.co/w1rD2mvISg

— Stockhead (@StockheadAU) May 10, 2024

FRIDAY’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 MRD Mount Ridley Mines 0.002 100% 657,022 $7,784,883 ION Iondrive Limited 0.011 57% 3,017,992 $3,403,997 AVW Avira Resources Ltd 0.002 50% 699,500 $2,663,790 FAU First Au Ltd 0.003 50% 49,128,436 $3,323,987 KLI Killiresources 0.042 35% 144,295 $2,418,002 JAV Javelin Minerals Ltd 0.002 33% 145,860 $3,264,346 M2R Miramar 0.012 33% 9,795,359 $1,674,782 GAS State GAS Limited 0.155 29% 1,124,620 $32,907,215 M4M Macro Metals Limited 0.040 29% 54,267,675 $100,194,069 HFY Hubify Ltd 0.014 27% 647,097 $5,457,499 AOA Ausmon Resorces 0.003 25% 3,000,000 $2,117,999 PLC Premier1 Lithium Ltd 0.026 24% 177,402 $3,666,056 CGO CPT Global Limited 0.160 23% 23,238 $5,446,657 UNT Unith Ltd 0.016 23% 6,014,701 $15,904,686 SXG Southern Cross Gold 3.270 22% 1,483,037 $260,087,686 SVG Savannah Goldfields 0.034 21% 188,986 $7,870,378 CCO The Calmer Co Int 0.006 20% 8,370,000 $6,804,398 EWC Energy World Corpor. 0.012 20% 676,224 $30,789,212 GTI Gratifii 0.012 20% 6,097,031 $16,120,450 MCT Metalicity Limited 0.003 20% 2,666,667 $11,212,737 WNX Wellnex Life Ltd 0.024 20% 2,607,506 $25,790,912 OIL Optiscan Imaging 0.108 19% 266,071 $75,180,672 MCM Mc Mining Ltd 0.155 19% 106,003 $53,025,797 DXN DXN Limited 0.038 19% 1,022,026 $5,916,459 EMP Emperor Energy Ltd 0.013 18% 6,467,018 $4,218,112

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Friday’s Small Cap Winners included:

Macro Metals (ASX:M4M) maintained its upward trend this morning, adding another +22.6% to take its tally for the week to +245%, and push it well through the +1,100% mark for the year to date.

TMK Energy (ASX:TMK) was up this morning, on the back of yesterday’s news that the company has raised $623,589 through a share purchase plan that provided eligible shareholders with the opportunity to subscribe for up to $30,000 worth of fully paid ordinary shares at $0.004 a pop.

State Gas (ASX:GAS) was up on news that the company has been awarded $5.5 million of exploration grant funding through the Queensland Government’s Frontier Gas Exploration Program.

IPB Petroleum (ASX:IPB) was showing a gain this morning on news that it has received firm subscriptions for a placement to professional and sophisticated investors of approximately 141.3 million new ordinary shares at an issue price of 0.7 cents per share to raise about $0.988 million before costs.

St Barbara (ASX:SBM) revealed its 10-year outlook for the Simberi mine in PNG. The company’s crystal balling is the result of a recent ‘Expansion Concept Study’ it conducted that considered as many as six different options/outcomes.

Takeaways for investors (assuming, that is, a 3.7Mtpa throughput rate):
• Total gold production of 2Moz
• Average annual gold production rising from 70,000 to 75,000oz in FY25 to FY27 to 230,000oz through to 2034; and,
• All-in Sustaining Costs decreasing to US$1,000-$1,200/oz from FY28 to FY34.

Everest Metals’ (ASX:EMC) Phase 1 resource drilling at the Mt Edon Critical Mineral Project has commenced with a ~1,400m RC program. Drilling to follow up pegmatite formation with previous results delivering 80m of rubidium at 0.32%, from surface. The drilling will result in the conversion of the current Exploration Target to a Mineral Resource Estimate in 2024.

And, engineering company Civmec (ASX:CVL) said in Q3 FY24, revenue came in at $258.3 million, a 37.6% compared to the pcp. NPAT reached $17.1 million, showing a solid increase of 16.9% on pcp. Furthermore, earnings per share (EPS) rose to 3.4 cents, up from 2.9 cents in the pcp. Finally, the company’s net cash balance saw a significant increase of a$52.6 million from the pcp, reaching a total of $35.9 million.

FRIDAY’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:

Name Price % Change Volume Market Cap SHO Sportshero Ltd 0.003 -40% 1,557,247 $3,089,164 CNJ Conico Ltd 0.001 -33% 623,719 $2,707,643 RML Resolution Minerals 0.002 -33% 2,199,000 $4,830,065 RMX Red Mount Min Ltd 0.001 -33% 619,000 $4,010,364 88E 88 Energy Ltd 0.003 -25% 27,079,051 $115,570,688 ERL Empire Resources 0.003 -25% 1,528,618 $5,935,653 KPO Kalina Power Limited 0.003 -25% 105,890 $9,945,576 RLC Reedy Lagoon Corp. 0.003 -25% 30,782 $2,478,163 BFC Beston Global Ltd 0.004 -20% 1,746,308 $9,985,234 EXL Elixinol Wellness 0.004 -20% 1,015,167 $6,505,370 ID8 Identitii Limited 0.008 -20% 798,485 $4,302,380 NRZ Neurizer Ltd 0.002 -20% 20,799,974 $4,132,948 ROG Red Sky Energy. 0.004 -20% 1,323,840 $27,111,136 HOR Horseshoe Metals Ltd 0.013 -19% 8,043,744 $10,364,459 AHN Athena Resources 0.003 -17% 2,201,000 $3,211,403 AYT Austin Metals Ltd 0.005 -17% 18,520 $7,711,148 CAV Carnavale Resources 0.005 -17% 349,208 $20,541,310 ME1 Melodiol Glb Health 0.003 -17% 1,522,413 $2,140,462 MTL Mantle Minerals Ltd 0.003 -17% 2,275,662 $18,592,338 SHE Stonehorse Energy Lt 0.010 -17% 1,615,528 $8,213,221 VRC Volt Resources Ltd 0.005 -17% 994,866 $24,952,069 BMG BMG Resources Ltd 0.011 -15% 896,934 $8,239,363 RTR Rumble Res Limited 0.040 -15% 4,102,937 $33,035,935 TSI Top Shelf 0.145 -15% 21,188 $35,474,896 KOR Korab Resources 0.006 -14% 41,785 $2,569,350

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