Good morning, today on Stockhead, Nadine chats to Jessica Amir about how moomoo is making it easier to invest on the Nasdaq. Eliza Owen tells us how Albo choked on Budget housing. And Rob “Badman” Badman is out in the driveway, giving the stragglers a hurry-up to the silver stocks party or they’ll miss Pass the Parcel.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: US$2,422.25 (+.32%)
Silver: US$31.30 (-0.57%)
Nickel (3mth): US$21,080.00/t (+6.48%)
Copper (3mth): US$10,963.00/t (+2.77%)
Zinc: US$3,068.50/t (+0.77%)
Oil (WTI): US$79.49 (-0.70%)
Oil (Brent): US$83.51 (-0.56%)
Iron 62pc Fe: US$117.02/t (0.15%)
AUD/USD: 0.6676 (-0.25%)
Bitcoin: US$67,050 (-0.30%)
WHAT GOT YOU TALKING
Something got readers’ hearts pounding here. (We’re depressingly sure it’s the gold price, though.)
The #gold price rally continues, #trading now around at $2,437/oz as the Chinese central bank buys up bullion to reduce its reliance on US dollars. #ASX #stocks https://t.co/dNFaYyviae
— Stockhead (@StockheadAU) May 20, 2024
ASX SMALL CAP LEADERS
Yesterday’s best performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Name Price % Change Volume Market Cap RMX Red Mount Min Ltd 0.00 100% 500,000 $3,423,577 SVY Stavely Minerals Ltd 0.05 58% 5,481,143 $12,604,023 CT1 Constellation Tech 0.00 50% 2,522,693 $1,474,734 AUC Ausgold Limited 0.04 35% 34,319,910 $59,699,671 AHN Athena Resources 0.00 33% 21,561,443 $3,211,403 CTN Catalina Resources 0.00 33% 131,575 $3,715,461 LSR Lodestar Minerals 0.00 33% 504,586 $3,035,096 COD Coda Minerals Ltd 0.17 31% 1,199,958 $21,397,889 CBH Coolabah Metals Limi 0.06 30% 509,342 $4,527,292 GNM Great Northern 0.01 30% 200,724 $1,546,291 ERG Eneco Refresh Ltd 0.01 29% 99,000 $1,906,508 EYE Nova EYE Medical Ltd 0.30 28% 1,952,235 $52,629,353 CUS Coppersearchlimited 0.12 28% 140,658 $8,674,828 NXL Nuix Limited 2.99 26% 2,871,633 $769,998,511 ALR Altairminerals 0.01 25% 12,243,105 $14,352,977 ESR Estrella Res Ltd 0.01 25% 4,810,997 $7,037,487 IBG Ironbark Zinc Ltd 0.01 25% 5,228,120 $6,375,490 MHC Manhattan Corp Ltd 0.00 25% 3,039,445 $5,873,960 OAU Ora Gold Limited 0.01 25% 1,061,571 $23,224,004 PNX PNX Metals Limited 0.01 25% 9,489,068 $23,880,859 GDC Global Data Grp 2.90 24% 1,318,107 $180,045,624 ASO Aston Minerals Ltd 0.02 23% 6,961,309 $16,835,835 I88 Infini Resources Ltd 0.22 23% 201,722 $6,647,082 LRV Larvottoresources 0.12 22% 6,763,447 $24,527,275 KLI Killiresources 0.05 21% 73,847 $3,472,252
Coolabah Metals (ASX:CBH) is back on the ASX. Last week Coolabah announced the application for quotation of a whole bunch of new securities on the ASX, including over 5 million options and 22 million ordinary shares in a move which signals a potential expansion and growth phase for the diversified explorer. This follows the acquisition of the Mundi Mundi project in NSW, which boasts x2 historical fluorite mines. Fluoride-ion batteries also have the potential to displace lithium-ion batteries as they have a potential eight-fold increase in energy density relative to lithium-ion batteries, according to CBH.
Still with the diggers – and a re-interpretation of historical data at Stavely Minerals’ (ASX:SVY) Junction Prospect has reportedly identified an immediate shallow discovery opportunity.
A new set of eyes apparently has seen copper-gold-silver lode-style mineralisation intersected previously at Junction including “chalcopyrite, bornite and covellite and is very similar to the mineralisation at the Cayley Lode (9.3Mt at 1.23% Cu, 0.23g/t Au, 7g/t Ag).” That news dropped late last week, with SVY saying drilling will start as soon as a rig can be mobilised.
Stocks in the ever-troubled software firm Nuix (ASX:NXL) have genuinely surged on what looks genuinely good news. NXL has lifted full year guidance by more than a full third this morning after “general positive trading into the second half” that includes a significant multi-year win. Nuix says it’ll likely beat its previously stated strategic target of growing statutory revenue by around 10%. Nuix says it expects statutory EBITDA to come in more than 35% on last year. Underlying EBITDA, which excludes non-operational legal costs, is likely to be in the range of $63m-$68m, up more than 36%.
Gold explorer Nagambie Resources (ASX:NAG)’ share price hasn’t enjoyed the best year to date, but today it rose on some welcome news. The company has announced a maiden JORC resource for the shallow, high-graded gold mineralisation at its namesake gold and antimony mine in central Victoria. Some specifics. The company’s talking an Inferred Resource here, of 415,000 tonnes averaging 11.5g/t gold equivalent and comprising 3.6g/t gold plus 4.3% antimony. It also notes that the in-ground metal content of 153,000 ounces gold equivalent, comprises 47,800 ounces gold plus 17,800 tonnes antimony and the average 11.5g/t gold equivalent resource grade is 230% of the mineable cut-off grade of 5.0g/t AuEq.
And another, bigger, goldie faring well. Ausgold (ASX:AUC) has appointed veteran company maker John Dorwood as exec chairman to drive towards first production from the 3Moz Katanning project in WA’s South West. “Ausgold’s growth potential and dominant ownership in the southwest Yilgarn Craton reminds me of Fronteer Gold, where I was VP-corporate development, which opened up a new frontier with its 2Moz Long Canyon gold project in under-explored eastern Nevada,” he says.
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 VBS Vectus Biosystems 0.130 -35% 84,135 $10,641,872 ME1 Melodiol Glb Health 0.002 -33% 5,859,629 $2,140,462 EMS Eastern Metals 0.036 -28% 1,262,042 $4,121,312 BFC Beston Global Ltd 0.003 -25% 25,680 $7,988,188 NAE New Age Exploration 0.003 -25% 9,835,000 $7,175,596 TD1 Tali Digital Limited 0.002 -25% 65,419 $6,590,311 M4M Macro Metals Limited 0.028 -22% 43,016,788 $116,354,403 MHJ Michael Hill Int 0.495 -20% 1,364,785 $238,466,857 RGL Riversgold 0.008 -20% 7,885,440 $9,676,615 RML Resolution Minerals 0.002 -20% 250,693 $4,025,055 ROG Red Sky Energy. 0.004 -20% 232,253 $27,111,136 GLN Galan Lithium Ltd 0.235 -19% 9,076,561 $119,782,759 RSH Respiri Limited 0.030 -19% 360,016 $39,215,150 AON Apollo Minerals Ltd 0.022 -19% 1,658,649 $18,801,258 KGD Kula Gold Limited 0.009 -18% 1,342,332 $5,351,081 BEO Beonic Ltd 0.025 -17% 24,000 $12,734,848 WNR Wingara Ag Ltd 0.015 -17% 57,142 $3,159,765 LPD Lepidico Ltd 0.003 -17% 2,785,302 $25,767,358 MTL Mantle Minerals Ltd 0.003 -17% 875,328 $18,592,338 NRZ Neurizer Ltd 0.003 -17% 3,594,504 $4,961,875 PHL Propell Holdings Ltd 0.010 -17% 314,423 $3,340,057 IMI Infinitymining 0.046 -16% 41,739 $6,531,436 SGA Sarytogan 0.210 -16% 235,442 $19,487,477 JGH Jade Gas Holdings 0.043 -16% 120,000 $80,418,543 NTL New Talisman Gold 0.018 -14% 22,917 $9,272,121
Jewellery retailer Michael Hill (ASX:MHJ) dropped almost -20% after reporting a challenging first half.
MHJ said first half sales rose by +10.2% in Australia vs the pcp, however this growth was driven mainly by the inclusion of the Bevilles brand in FY24. Sales performance in the core Michael Hill brand remained negative to last year.
The New Zealand segment meanwhile remains its most challenged segment, with deeper economic pressures significantly impacting consumer behaviour and discretionary spend over there. Sales in NZ dropped by -10.3% in H1 vs pcp.
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