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

Good morning everyone, and welcome to Monday, 6 November.

On Stockhead today…

Experts agree, we need a lot more copper to reach net zero but with supply from large orebodies declining, little discoveries are not going to cut it. The world needs big discoveries like Ivanhoe Mines’ sediment hosted Kamoa/Kakula project in the DRC, the largest copper discovery ever made in the history of mining on the African continent.
Stockhead’s Jess Cummins explains where the massive discoveries going to come from.

But first..

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$1,992.53 (+0.35%)

Silver: US$23.21 (+2.03%)

Nickel (3mth): US$17,979/t (-0.19%)

Copper (3mth): US$8,143/t (+0.41%)

Oil (WTI): US$80.51 (-2.36%)

Oil (Brent): US$85.17 (-1.93%)

Iron 62pc Fe: US$126.15/t (+0.46%)

AUD/USD: 0.6515 (+1.21%)

Bitcoin: US$34,927 (+0.87%)

WHAT GOT YOU TALKING

Even Albemarle seems as perplexed as anyone that lithium prices have fallen so far, but it says there’s not much slack left in the supply chain. The US giant has muted expectations it could go hard on M&A again after pulling out of $6.6 billion Liontown bid.

Corella Resources (ASX:CR9) has unleashed a monstrous scoping study highlighting two highly attractive – and mutually exclusive – development scenarios for its Tampu high priority alumina project in WA’s Wheatbelt region.

And this…

Q+A: Neurotech’s Dr Thomas Duthy on commercialising NTI164 as a treatment for PANDAS/PANS https://t.co/CzUlH7tOGX #ad #ASX #ASX200 $NTI @NeurotechInt pic.twitter.com/U2EZtpKBd6

— Stockhead (@StockheadAU) November 3, 2023

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 Company Price % Volume Market Cap MCM Mc Mining Ltd 0.205 58% 236,548 $52,874,446 CLE Cyclone Metals 0.0015 50% 505,209 $10,264,505 EMU EMU NL 0.0015 50% 392,516 $1,667,521 KNM Kneomedia Limited 0.003 50% 175,000 $3,009,571 NAG Nagambie Resources 0.029 45% 470,051 $11,634,526 TSL Titanium Sands Ltd 0.01 43% 5,502,941 $12,402,633 8IH 8I Holdings Ltd 0.009 39% 160,343 $2,309,127 STK Strickland Metals 0.15 36% 46,274,634 $176,126,071 AHN Athena Resources 0.004 33% 1,135,664 $3,211,403 AVE Avecho Biotech Ltd 0.004 33% 276,642 $8,094,876 ME1 Melodiol Glb Health 0.004 33% 41,295,728 $11,487,311 OAR OAR Resources Ltd 0.004 33% 5,069,038 $7,839,407 GRE Greentechmetals 0.54 32% 3,349,301 $23,299,844 NTM Nt Minerals Limited 0.009 29% 945,555 $6,019,320 NXS Next Science Limited 0.315 29% 1,404,511 $71,465,300 PNR Pantoro Limited 0.041 28% 38,073,629 $166,528,976 DCL Domacom Limited 0.032 28% 177,307 $10,887,544 ARV Artemis Resources 0.028 27% 7,922,209 $34,703,204 TZL TZ Limited 0.03 25% 573,408 $6,162,195 SQ2 Block 80.74 25% 821,279 $2,132,504,378 X2M X2M Connect Limited 0.049 23% 50,000 $7,183,738 ASP Aspermont Limited 0.011 22% 20,010 $21,948,873 CXU Cauldron Energy Ltd 0.011 22% 3,425,035 $8,762,118 MHK Metalhawk. 0.12 20% 329,699 $7,877,101 SIO Simonds Grp Ltd 0.18 20% 164,711 $53,985,968

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Friday’s Small Caps highlights:

MC Mining (ASX:MCM). The situation is as follows – MCM has been the target of an off-market cash takeover offer from Senosi Group and Dendocept, both already substantial MCM shareholders.

MCM says a proposal letter (dated 1 November) landed at HQ and within it is the outline of the consortium’s proposal and intention to make an off-market cash takeover offer for all the shares in the company not currently held by the two majority shareholders.
This includes an indicative cash consideration offer range of $0.20-$0.23 per ordinary share, based on MCM’s undiluted share capital.

TZ (ASX:TZL) says its wholly owned subsidiary, TZI Australia has received a big purchase order for the supply of smart lockers, system electronics and software for a European-headquartered global transport and logistics company. The purchase is worth circa $2.6m, TZ told the ASX on Friday.

TZL anticipates that supply will commence prior to the end of the calendar year and should be completed in early 2024. The customer is keen to ship at least 50% of the Locker Bank order before Christmas.

Back on the winners ladder late on Friday was local investments platform DomaCom (ASX:DCL).

DCL soared like a soaring investments platform and has gone off into the ether largely on the back of an obscure and non-binding Memorandum of Understanding (MoU) with Super Fierce, “Australia’s premier superannuation advice technology platform”. The big sell of this alliance appears to be DomaCom can add residential property investments to Aussie super members via Super Fierce.

A very excited DCL says the Super Fierce MoU is ‘a significant milestone’ in the investment platform’s mission ‘to provide accessible and diversified investment solutions for all Australians’.

DCL told the ASX that the tie up is ‘set to redefine investment opportunities in the residential property sector for superannuation members’.

YESTERDAY’S ASX SMALL CAP LAGGARDS

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

Code Company Price % Volume Market Cap FRS Forrestaniaresources 0.001 -80% 53,459 $255,754 MGT Magnetite Mines 0.004 -50% 685,902 $167,487 VPR Volt Power Group 0.001 -33% 746,001 $16,074,312 IDX Integral Diagnostics 1.935 -27% 3,091,314 $618,695,418 ADR Adherium Ltd 0.003 -25% 200,000 $19,997,633 PVS Pivotal Systems 0.003 -25% 5,671,418 $3,073,517 SRN Surefire Rescs NL 0.012 -25% 18,940,096 $26,478,958 VN8 Vonex Limited. 0.016 -24% 1,504,841 $7,598,401 OMX Orangeminerals 0.034 -23% 117,020 $2,227,508 TOY Toys R Us 0.011 -21% 5,280,466 $13,754,489 EDE Eden Inv Ltd 0.002 -20% 122,638 $8,409,092 MRQ Mrg Metals Limited 0.002 -20% 10 $5,514,797 ZNO Zoono Group Ltd 0.044 -20% 76,075 $10,446,022 MHI Merchant House 0.051 -19% 20,000 $5,938,789 SCT Scout Security Ltd 0.013 -19% 154,305 $3,690,688 RLG Roolife Group Ltd 0.009 -18% 553,337 $7,948,139 FBR FBR Ltd 0.019 -17% 18,649,161 $91,423,351 RNO Rhinomed Ltd 0.029 -17% 10,301 $10,000,189 LVH Livehire Limited 0.045 -17% 3,300 $19,076,777 ZNC Zenith Minerals Ltd 0.1 -17% 92,956 $42,285,706 HMD Heramed Limited 0.04 -17% 705,138 $13,416,681 RIE Riedel Resources Ltd 0.005 -17% 512,000 $12,356,442 TAS Tasman Resources Ltd 0.005 -17% 300,347 $4,276,016 YPB YPB Group Ltd 0.0025 -17% 200,000 $2,230,384 CLU Cluey Ltd 0.073 -16% 20,010 $17,540,380

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TRADING HALTS

Acrow Formwork & Construction Services (ASX:ACF) – pending the release of an ASX announcement regarding an acquisition, institutional share placement and debt facility.

Cleo Diagnostics (ASX:COV) – pending an announcement to be made by the company to the market in connection with the publication reporting results of Cleo’s first clinical validation study for the triage test.

Buxton Resources (ASX:BUX) – pending an announcement of assay results from the Dogleg Prospect.

Astron Corporation (ASX:ATR) pending the release of an announcement regarding a material capital raising transaction.

Pilot Energy (ASX:PGY) pending an announcement with regards to a capital raising that the company is proposing to execute, which is to be managed by Whairo Capital Pty Ltd and to allow for the execution of that raise in an orderly manner. Nice, adult.

Race Oncology (ASX:RAC) – requested to allow analysis and interpretation of data received relating to an investigator-initiated Phase 2 human clinical trial, where Race’s lead asset, bisantrene, is being studied in patients with Acute Myeloid Leukaemia.

AdAlta (ASX:1AD) – pending an announcement by AdAlta in relation to a proposed capital raising.

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