Good morning everyone, and welcome to 14 May, 2024 – an important day in history for a few different reasons.
On this day in 1787, a group of delegates gathered in the US city of Philadelphia to draw up the US Constitution, which has been widely derided as a terrible mistake.
On this day in 1797, English country doctor Edward Jenner first administered his revolutionary cowpox-based vaccine for smallpox, in Berkeley, Gloucestershire, leading to precisely zero documented cases of autism.
And it was on this day in 1842 that the world’s first illustrated weekly newspaper, The Illustrated London News began publication, leading in a roundabout fashion to the launch of ZOO Weekly in Australia, which has been widely derided as an even more terrible mistake than the US Constitution.
Luckily for you, you’re unlikely to encounter any terrible mistakes on this site this morning, as our red hot team of experts has been hard at work prepping everything you need to know before the market kicks off for the day.
That includes Nadine McGrath’s look into what Optiscan’s been up to in recent months, and Rob Badman’s take on the ins and outs of the Aussie lithium rush after Errawarra Resources (ASX:ERW) surged on news that next door neighbour Azure Minerals (ASX:AZS) found some “stacked pegmatites”.
Plus, because I live alone and I’m terribly lonely, I’ve been sitting here at my laptop into the wee hours of the morning to bring you all the data and digits and highlights listed below to help prep you for the day ahead.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,354.51 (-0.26%)
Silver: US$28.10 (-0.25%)
Nickel (3mth): US$18,723.50/t (+0.00%)
Copper (3mth): US$9,897/t (+0.00%)
Zinc: US$2,913.00/t (+0.00%)
Oil (WTI): US$78.04 (-0.19%)
Oil (Brent): US$82.51 (-0.33%)
Iron 62pc Fe: US$116.95/t (-0.00%)
AUD/USD: 0.6597 (-0.03%)
Bitcoin: US$61,131.90 (-0.52%)
WHAT GOT YOU TALKING
Did you miss yesterday’s wrap of what’s happening in Health Stocks? Fret not, for here is a link, with the added bonus of a photo featuring a man about to lose his hand to a robotic hand, designed by robotic hand doctors to drum up more business.
@Optiscan_ ( $OIL ) signs deal with world-renowned Mayo Clinic
@AdAlta1AD ( $1AD ) designates Cell Therapies as its manufacturing partner
@ecofibre ( $EOF ) jumps after entering sell and leaseback agreement in US https://t.co/GKAer9ZKJI
— Stockhead (@StockheadAU) May 13, 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 BUR Burleyminerals 0.16 86% 1,759,609 $12,931,901 ERW Errawarra Resources 0.10 67% 16,363,507 $5,755,240 FAU First Au Ltd 0.01 67% 84,239,160 $4,985,980 APC Aust Potash Ltd 0.00 50% 6,183,514 $4,000,189 LPD Lepidico Ltd 0.00 50% 5,300,870 $17,178,239 IND Industrialminerals 0.24 37% 551,432 $12,033,000 ANX Anax Metals Ltd 0.06 34% 37,512,693 $26,017,952 PUA Peak Minerals Ltd 0.00 33% 20,471,066 $3,124,130 RDS Redstone Resources 0.00 33% 150,000 $2,776,135 MGU Magnum Mining & Exp 0.02 32% 18,999,968 $11,331,060 BYH Bryah Resources Ltd 0.01 29% 9,665,201 $3,048,175 LV1 Live Verdure Ltd 0.54 29% 720,552 $52,381,684 PNN Power Minerals Ltd 0.14 29% 1,177,827 $9,723,529 EXL Elixinol Wellness 0.01 25% 4,066,519 $5,204,296 ID8 Identitii Limited 0.01 25% 671,703 $3,441,904 NTM Nt Minerals Limited 0.01 25% 100,000 $4,039,612 RML Resolution Minerals 0.00 25% 480,000 $3,220,044 FTL Firetail Resources 0.06 24% 394,731 $7,445,278 OIL Optiscan Imaging 0.12 22% 1,158,622 $81,863,399 FZR Fitzroy River Corp 0.15 21% 40,879 $12,954,510 D3E D3 Energy Limited 0.24 20% 1,245,117 $15,895,001 TON Triton Min Ltd 0.02 20% 2,751,714 $19,517,408 AYT Austin Metals Ltd 0.01 20% 75,000 $6,425,957 CCO The Calmer Co Int 0.01 20% 6,788,340 $6,804,398 EMT Emetals Limited 0.01 20% 710,845 $4,250,000
Yesterday’s Small Cap Winners included:
Leading the ladder on Monday morning was Errawarra Resources (ASX:ERW) which jumped after saying that it has identified a “large, stacked pegmatite swarm” at its 100kkm2+ Andover West project, which is about 40km east-southeast of Karratha, WA, and just south of Azure Minerals’ (ASX:AZS) Andover LCT Pegmatite project (now owned by SQM/Hancock). Andover West has, notes the company, a highly promising exploration target of 100-240mt at 1-1.5% Li2O.
Elixinol Wellness (ASX:EXL) gained on news that it’s received $2.3m from divesting its minority stake in Altmed Pets.
Magnum Mining and Exploration (ASX:MGU) rose sharply after telling the market that it and Middle East for Metallic Industrial (Midmetal) have entered into an agreement with the Nasdaq-listed V Capital Consulting and 2×1.Digital to raise more than US$210m to advance a green pig iron project in Saudi Arabia. Additionally, Magnum is set to “receive no less than US$10m as working capital for its flagship Buena Vista magnetite project in Nevada for the issue, subject to Magnum shareholder approval”.
And Ramelius Resources (ASX:RMS)’s updated Mineral Resource Estimate, now including adjacent Lone Pine and Theakston deposits and incorporating recent drilling and mining information were: 21Mt at 1.7g/t for 1,200,000 ounces (up 64% on June 2023 MRE). This combines previous Mineral Resource Estimate of 730,000 oz and Exploration Target of 125,000-225,000 oz into a single resource, with the result well exceeding the upper end of the Exploration Target range, and also containing over 75% in either the Measured or Indicated categories.
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 JTL Jayex Technology Ltd 0.001 -80% 7,569,497 $1,406,393 AXP AXP Energy Ltd 0.001 -50% 1,119,999 $11,649,361 JAV Javelin Minerals Ltd 0.001 -50% 285,001 $4,352,462 AVW Avira Resources Ltd 0.001 -33% 62,500 $3,995,685 CNJ Conico Ltd 0.001 -33% 220,000 $2,707,643 GCM Green Critical Min 0.003 -25% 232,500 $4,546,340 LSR Lodestar Minerals 0.002 -25% 5,029,000 $4,046,795 TD1 Tali Digital Limited 0.002 -25% 1,085,956 $6,590,311 TX3 Trinex Minerals Ltd 0.003 -25% 350,000 $7,254,609 MEM Memphasys Ltd 0.007 -22% 35,962 $12,309,680 SPX Spenda Limited 0.007 -22% 2,903,228 $38,920,120 BYE Byron Energy Ltd 0.047 -22% 11,938,025 $64,727,129 ICL Iceni Gold 0.070 -21% 8,563,300 $21,943,934 AVC Auctus Invest Grp 0.470 -20% 38,882 $44,563,727 HFY Hubify Ltd 0.012 -20% 500,000 $7,442,044 MKL Mighty Kingdom Ltd 0.004 -20% 5,662,777 $12,487,999 PKO Peako Limited 0.004 -20% 400,000 $2,635,424 ROG Red Sky Energy. 0.004 -20% 2,646,366 $27,111,136 PL3 Patagonia Lithium 0.100 -17% 156,060 $5,895,420 TM1 Terra Metals Limited 0.050 -17% 5,028,604 $17,746,722 1MC Morella Corporation 0.003 -17% 41,722,986 $18,536,398 KGD Kula Gold Limited 0.010 -17% 716,984 $5,837,543 MCT Metalicity Limited 0.003 -17% 19,320,288 $13,455,285 MEL Metgasco Ltd 0.005 -17% 554,173 $6,383,320 NSX NSX Limited 0.020 -17% 117,000 $11,341,706
TRADING HALTS
Oceana Lithium (ASX:OCN) – pending an update of exploration results at the Company’s Napperby Project.
Australian Gold and Copper (ASX:AGC) – pending the release of an announcement to the market regarding exploration results.
IperionX (ASX:IPX) – pending an announcement regarding a proposed capital raising.
Cosmos Exploration (ASX:C1X) – pending the release of an announcement regarding an acquisition and a capital raising.
Firebird Metals (ASX:FRB) – pending an announcement in relation to project financing initiatives.
Killi Resources (ASX:KLI) ) – pending an announcement in relation to a potential joint venture and capital raising.
Perpetual Resources (ASX:PEC) – pending an announcement regarding a proposed material acquisition.
Parkway Corporate (ASX:PWN) – pending the release of an announcement to the market relating to a potential capital raise.
Control Bionics (ASX:CBL) – pending 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.
