Good morning, today on Stockhead, Christian Edwards wraps up his look at ASX blood stocks that are way off their start of year highs, Eddy Sunarto reckons Price Sales Ratio outshines the P/E ratio for comparing early-stage stocks, and it’s a big week in data drops for the ASX – they’re all here in the Trader’s Diary.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,414.25 (+1.53%)
Silver: US$31.49 (+6.14%)
Nickel (3mth): US$19,797.00/t (+1.58%)
Copper (3mth): US$10,715.00/t (+2.79%)
Zinc: US$3,045.65/t (+2.79%)
Oil (WTI): US$80.00 (+0.97%)
Oil (Brent): US$83.96 (+0.83%)
Iron 62pc Fe: US$117.02/t (0.15%)
AUD/USD: 0.6693 (+0.21%)
Bitcoin: US$66,957 (-0.45%)
WHAT GOT YOU TALKING
The eyes have it.
.@morgansAU‘s Scott Power explains what the movers and shakers have been doing in #health and gives his #ASX Powerplay. https://t.co/qLjwsc7WOr
— Stockhead (@StockheadAU) May 17, 2024
ASX SMALL CAP LEADERS
Today’s best performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Name Price % Change Volume Market Cap APC Aust Potash Ltd 0.002 50% 1,375,612 $4,000,189 POS Poseidon Nick Ltd 0.006 50% 17,593,506 $14,854,139 YPB YPB Group Ltd 0.003 50% 4,592,081 $1,615,923 NC6 Nanollose Limited 0.032 39% 225,424 $3,956,146 RCR Rincon 0.145 32% 8,521,818 $25,553,625 AON Apollo Minerals Ltd 0.029 32% 520,802 $15,319,544 KP2 Kore Potash PLC 0.018 29% 1,580,439 $9,215,703 BLZ Blaze Minerals Ltd 0.005 25% 699,999 $2,514,233 EXL Elixinol Wellness 0.005 25% 86,842 $5,204,296 HLX Helix Resources 0.005 25% 35,036,157 $9,292,583 PNX PNX Metals Limited 0.005 25% 1,567,928 $23,880,859 RML Resolution Minerals 0.003 25% 372,499 $3,220,044 BUS Bubalusresources 0.155 24% 10,032 $4,021,709 CAG Caperangeltd 0.110 22% 5,000 $8,541,747 WYX Western Yilgarn NL 0.045 22% 163,238 $3,400,578 EMU EMU NL 0.036 20% 524,583 $2,024,789 PPY Papyrus Australia 0.012 20% 480,266 $4,926,926 PFE Panteraminerals 0.049 20% 1,569,472 $10,994,830 WNX Wellnex Life Ltd 0.025 19% 506,799 $27,080,458 RR1 Reach Resources Ltd 0.013 18% 2,258,894 $9,618,745 LPE Locality Planning 0.100 18% 3,575,234 $15,317,375 TOR Torque Met 0.200 18% 2,556,772 $31,148,896 AVE Avecho Biotech Ltd 0.004 17% 6,167,188 $9,507,891 CCO The Calmer Co Int 0.007 17% 4,652,936 $8,165,278 HYT Hyterra Ltd 0.028 17% 5,610,854 $21,661,078
Power Minerals (ASX:PNN) announced it’s secured a handful of Singaporean and Chinese partners to develop its Rincon lithium project, which is part of the wider Salta operation. On establishment of the Rincon JV, PNN will hold a 41% interest and Chinese entity Li Energy Technology will hold a 59% interest. It’s a “transformational agreement”, says Power, and is designed to deliver significant production at Rincon with the aim of making it a big operator in the field of Direct Lithium Extraction (DLE).
Poseidon Nickel (ASX:POS) says that its exploration, in hiatus for four months while a now-terminated sales process was taking place, has now kicked off again, with POS unearthing a bunch of greenfields targets to test with the drill bit. As Reubs noted earlier, “the recovering nickel price is also helping”. Re the lithium angle, though, numerous pegmatites have been identified at the company’s Lake Johnston project and rock chip samples have been collected from within and near a broad >100ppm Li2O anomaly reported by the company in January. Soil sampling planning to extend and infill the anomaly is now underway.
Electricity provider Locality Planning Energy (ASX:LPE) was up after announcing updated guidance to the ASX, telling investors that the company is now expecting a significant improvement in net profit to the range of $1.95m to $2.0m, and offereds EBITDA guidance between $3.3 million and $3.5 million, which is loads better than the company’s net loss of $12 million for FY23.
Education company NextEd (ASX:NXD) said total new international student (ELICOS and vocational) enrolments grew by 11% in the March quarter against the previous quarter, despite tighter immigration policy. NextEd’s cost base has reduced with targeted annualised savings of approximately $5 million from early FY25.
And… AIC Mines (ASX:A1M) announced that the mining lease for the Jericho Copper Mine has been approved by the Queensland Government, Department of Resources. Jericho mining optimisation studies to reduce initial schedule risk and also longer-term operational risks are currently being finalised. The major component of this work is investigation of direct underground access to Jericho from the Eloise portal via a 3.6 kilometre link drive.
ASX SMALL CAP LAGGARDS
Today’s best performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort
Code Name Price % Change Volume Market Cap EDE Eden Inv Ltd 0.001 -50% 164,997 $7,356,542 IEC Intra Energy Corp 0.002 -33% 2,701,597 $5,072,345 SIH Sihayo Gold Limited 0.002 -33% 1,060,128 $36,612,769 MSI Multistack Internat. 0.009 -31% 1,982 $1,771,951 CTN Catalina Resources 0.003 -25% 1,000,000 $4,953,948 LSR Lodestar Minerals 0.002 -25% 913,963 $4,046,795 MRD Mount Ridley Mines 0.002 -25% 1,090,000 $15,569,766 OAR OAR Resources Ltd 0.002 -25% 38,269 $6,306,622 8VI 8Vi Holdings Limited 0.045 -25% 8,015 $2,514,685 ALR Altairminerals 0.004 -20% 2,009,537 $17,941,221 KPO Kalina Power Limited 0.004 -20% 1,187,105 $12,431,970 1MC Morella Corporation 0.003 -17% 888,629 $18,536,398 BPP Babylon Pump 0.005 -17% 797,900 $14,997,294 TAS Tasman Resources Ltd 0.005 -17% 418,030 $4,276,016 FTL Firetail Resources 0.051 -15% 41,755 $8,934,333 MKT The Market Limited 0.170 -15% 20,029 $64,194,516 ASR Asra Minerals Ltd 0.006 -14% 4,037,436 $11,647,970 EMP Emperor Energy Ltd 0.012 -14% 1,800,319 $5,368,507 RMI Resource Mining Corp 0.019 -14% 1,026,994 $14,131,652 SCN Scorpion Minerals 0.020 -13% 899,383 $9,417,492 AQD Ausquest Limited 0.014 -13% 878,564 $13,202,388 AQX Alice Queen Ltd 0.007 -13% 151,500 $5,527,921 BFC Beston Global Ltd 0.004 -13% 3,050,390 $7,988,188 CMB Cambium Bio Limited 0.007 -13% 221,935 $6,128,738
TRADING HALTS
Galan Lithium (ASX:GLN) – pending the release of an announcement regarding a capital raising.
Si6 Metals (ASX:SI6) – pending an announcement in relation to Brazilian exploration results.
Magmatic Resources (ASX:MAG) – pending an announcement regarding a capital raising.
CuFe (ASX:CUF) – halt requested in respect of a proposed capital raising.
Peninsula Energy (ASX:PEN) – ending an announcement regarding a proposed capital raising.
Brazilian Critical Minerals (ASX:BCM) – pending a material capital raising.
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