Good morning everyone, and welcome to 10 January, 2024 \u2013\u00a0an important date in the history of the Energy sector, as it was on this day in 1901 that the town of Beaumont, Texas became synonymous with the Great American Commodity: Oil.<\/p>\n
Around a decade before Beaumont\u2019s first oil derrick fired its moneyshot into the air like a gigantic, pulsating black zit, a fella called Patillo Higgins put his \u201camateur geologist\u201d skills to the test, and became convinced that there was an enormous reserve of oil lurking under a salt-dome formation south of the town.<\/p>\n
Higgins and a rag-tag bunch of wealthy investors spent close to 10 years drilling dusters at the site, until \u2013 thoroughly disillusioned \u2013 Higgins left the company, possibly to grow his hair long and start the hot yoga fad that continues unabated around the world to this day, but probably not.<\/p>\n
What he did do, however, was lease a patch of land to a young mining engineer called Anthony Lucas, whose preferred form of geology was a lot further towards the \u2018professional\u2019 end of the scale than Higgins.<\/p>\n
Lucas and his associated poked a hole in the ground at a spot called Spindletop Hill, a great gush of greasy hydrocarbons spewed forth, and yea verily there was much rejoicing, possibly including a very early example of Rich Texas Oil Baron dancing while shooting their six-guns in the air.<\/p>\n
Higgins\u2019 theory was vindicated, but it was not the happy ending that he had hoped for \u2013 by the time Lucas and his cohort had begun to squeeze the great oily breast of America, Higgins\u2019 ownership stake on the land was long gone.<\/p>\n
In less than 12 months, more than 285 operating oil wells had been sunk in and around Spindletop, attracting workers, con men and prostitutes from around the world, each hoping to make it rich in their own particular way.<\/p>\n
And it was there that three small companies began life, before blossoming into corporate behemoths \u2013 Humble, (which became Exxon), the Texas Company (which shortened its name to Texaco to save on ink as a cost-cutting measure) and Magnolia Petroleum Company, which changed its name to Mobil after mysterious thick, black pollution poisoned every Magnolia within 100 miles. Allegedly.<\/p>\n
But enough with the history lesson for today, because there\u2019s things here you\u2019re going to want to read before the market gets kicking along at 10am, including Eddy Sunarto\u2019s always informative look at what\u2019s happening in the wild, wild world of IPOs<\/a>, and Rob \u201cIt\u2019s Badman\u201d Badnam has put metaphorical pen to allegorical paper, and produced an Energy-related tale that is sure to get your motor running<\/a>.<\/p>\n Plus, down below, there\u2019s all the data and digits that are rapidly becoming the bane of my existence, because they never stop changing and that\u2019s re-triggering my childhood fear of unstable numbers.<\/p>\n Especially number 4 \u2013 a real\u00a0shifty lookin\u2019 bastard, that one.<\/p>\n \u00a0<\/p>\n Gold: US$2,032.76 (+0.24%)<\/p>\n Silver: US$23.14 (+0.19%)<\/p>\n Nickel (3mth): US$16,071.51\/t (+2.37%)<\/p>\n Copper (3mth): US$8,346.00\/t (-0.26%)<\/p>\n Oil (WTI): US$70.95 (+0.25%)<\/p>\n Oil (Brent): US$76.15 (+0.04%)<\/p>\n Iron 62pc Fe: US$140.50\/t (-0.71%)<\/p>\n AUD\/USD: 0.6714 (0.00%)<\/p>\n Bitcoin: US$46,727.30<\/span> (-0.57%)<\/p>\n \u00a0<\/p>\n So, Badman\u2019s gone rogue again and now all he wants to talk about is crypto \u2013 which is actually great, because he knows his stuff when it comes to imaginary money\u2026<\/p>\n We are on the verge of the biggest change to hit #Bitcoin<\/a> and #crypto<\/a> in, like\u2026 the history of @Bitcoin<\/a> and #cryptocurrency<\/a>. @BlackRock<\/a> #SEC<\/a> #ETF<\/a> #BitcoinETF<\/a> https:\/\/t.co\/ttMYK1RIwx<\/a><\/p>\n \u2014 Stockhead (@StockheadAU) January 8, 2024<\/a><\/p>\n\n \u00a0<\/p>\n Here are the best performing ASX small cap stocks:<\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Yesterday\u2019s Small Caps highlights were:<\/p>\n The small caps results for Tuesday\u00a0 09 January are brought to you by the word \u201cconfusing\u201d, because it was all a little hard to get a handle on throughout the day.<\/p>\n There were lots of small caps moving briskly around the market without the usual niceties of telling us why \u2013 and there were genuinely far too many of them to list every single one\u2026 but a quick glance suggested that most of them are little goldies, making hay while spot prices remain above US$2,000\/oz.<\/p>\n Up near the top of the list with a 17% spike was Rincon Resources (ASX:RCR)<\/strong><\/a>, which last had news for the ASX on 03 January when the company announced that drilling had confirmed wide zones of mineralisation at its Westin Prospect in WA.<\/p>\n Later in the day, Monday\u2019s debutante Kali Metals (ASX:KAL)<\/strong><\/a> fired back into life, adding another 23% to the 78% it stacked on during its first day on the bourse.<\/p>\n And Widgie Nickel (ASX:WIN)<\/strong><\/a> enjoyed a boost of its own, after investors took their sweet time digesting an early morning announcement that of an updated JORC-compliant Mineral Resource Estimate for its Gillett nickel deposit.<\/p>\n Widgie says there is a lot more nickel at the site\u00a0\u2013 we\u2019re talking a 75% increase in total contained nickel versus the 2023 Mineral Resource Estimate \u2013\u00a0and that\u2019s got investors up and out of their seats, pushing the company nearly 24% higher.<\/p>\n At the not-awesome end of the scale, however, is Talisman Mining (ASX:TLM)<\/strong><\/a> \u2013 it lost 14% before lunch after delivering news of further assay results from additional RC drillholes completed at the Durnings Prospect, part of the company\u2019s 100%-owned Lachlan Project in NSW, which appear to have underwhelmed investors.<\/p>\n \u00a0<\/p>\n Here are the worst performing ASX small cap stocks:<\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Alumina (ASX:AWC)<\/strong><\/a> \u2013 pending receipt of information in respect of an expected decision by Alcoa Corporation.<\/p>\n NickelX (ASX:NKL)<\/strong><\/a> \u2013 pending an update to the market in respect of the option agreement the Company previously announced regarding the Ransko and Otov exploration projects.<\/p>\n Galena Mining (ASX:G1A)<\/strong><\/a> \u2013\u00a0 pending an announcement regarding a strategic review of operations.<\/p>\n Worley (ASX:WOR)<\/strong><\/a> \u2013 pending a clarificatory announcement to the market.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n <\/span><\/p>\n The post Rise and Shine: Everything you need to know before the ASX opens<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"COMMODITY\/FOREX\/CRYPTO MARKET PRICES<\/h2>\n
WHAT GOT YOU TALKING<\/h2>\n
YESTERDAY\u2019S ASX SMALL CAP LEADERS<\/h2>\n
YESTERDAY\u2019S ASX SMALL CAP LAGGARDS<\/h2>\n
TRADING HALTS<\/h2>\n