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ASX Small Cap Lunch Wrap: Who’s nabbed a deal with NASA today?

An Australian-made rover could be sent to the moon as part of a NASA space mission as early as 2026. … Read More
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An Australian-made rover could be sent to the moon as part of a NASA space mission as early as 2026.

NASA intends to use the rover to collect lunar soil that contains oxygen atoms.

And Prime Minister Scott Morrison reckons the mission to the moon is “just one exciting way that we can create opportunity and jobs for the future, and our government will ensure Australians reap the benefits”.

“This is an incredible opportunity for Australia to succeed in the global space sector and is central to our government’s vision to secure more jobs and a larger share of the growing space economy,” he said.

“By 2030, we want to triple the size of our space sector, adding $12 billion to our economy and creating up to 20,000 new, high-skilled jobs, providing more opportunities for Australians and industries.”

Australian businesses and research organisations will be able to apply to be part of the team to develop the rover, which will be supported by $50 million from the Trailblazer program – part of the Australian Government’s $150 million Moon to Mars initiative.

 

To Markets …

The ASX 200 is up 3.1 points or 0.043% at midday today to 7,283.80.

According to Morningstar with Dow Jones, investors are contending with an energy crunch that threatens to add to inflationary pressures just as signs emerge that global economic growth is slowing.

“Investors are running around like chickens with their heads cut off,” said John Buckingham, portfolio manager at Kovitz. “They focus on one thing at a time and buy and then change their mind and sell.”

Global oil prices were mixed, with the Brent crude price down 0.3% to US$83.42 a barrel, but the US Nymex crude price adding 0.1% to near 7-year highs of US$80.64 a barrel.

Base metal prices were mixed as well; lead, copper and nickel fell as much as 1.2% with other metals up by as much as 1.1%.

And gold futures prices rose by 0.2% to U$1,759.30 an ounce with spot gold trading near US$1,760 an ounce.

Iron ore fell 6.2% to US$128.50 a tonne.

Concerns about disappointing economic data have also intensified in the US.

“There is a tone of worry on the data front, and that’s been the factor that hasn’t really turned around yet. We haven’t seen any strong reports that suggest that this is just a temporary Delta variant driven slowdown,” said Anwiti Bahuguna, senior portfolio manager and head of multiasset strategy at Columbia Threadneedle Investments.

The International Monetary Fund lowered its growth forecast for the world economy for this year, citing supply-chain disruptions in rich economies and global health concerns caused by the spread of the contagious COVID-19 Delta variant.

 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for October 13 [intraday]:

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

Code Name Price % Change Market Cap
PVW PVW Res Ltd 0.29 57 $ 12,815,296.88
CNR Cannon Resources 0.3775 35 $ 18,605,123.88
TKM Trek Metals Ltd 0.145 26 $ 30,153,424.47
CCE Carnegie Cln Energy 0.0025 25 $ 29,805,147.42
DDD 3D Resources Limited 0.005 25 $ 15,521,488.37
VIC Victory Mines Ltd 0.0025 25 $ 13,100,505.54
PDN Paladin Energy Ltd 0.905 23 $ 1,968,378,475.46
DYL Deep Yellow Limited 1.12 23 $ 305,906,650.14
BMN Bannerman Energy Ltd 0.375 23 $ 367,469,422.29
BUB Bubs Aust Ltd 0.44 22 $ 220,599,208.80
14D 1414 Degrees Limited 0.12 20 $ 20,056,045.80
CLE Cyclone Metals 0.006 20 $ 24,396,184.91
TSC Twenty Seven Co. Ltd 0.006 20 $ 13,304,069.53
AGE Alligator Energy 0.073 20 $ 181,498,894.49
PEN Peninsula Energy Ltd 0.275 20 $ 229,084,182.55
GTR Gti Resources 0.0285 19 $ 19,824,666.19
DLC Delecta Limited 0.013 18 $ 13,123,370.76
M8S M8 Sustainable 0.027 17 $ 9,492,789.08
TCG Turaco Gold Limited 0.15 15 $ 43,767,534.98
PNM Pacific Nickel Mines 0.085 15 $ 15,902,232.66
COB Cobalt Blue Ltd 0.35 15 $ 91,041,538.34
ACB A-Cap Energy Ltd 0.078 15 $ 59,288,170.89
AEE Aura Energy 0.275 15 $ 95,797,591.68

The biggest small cap winner today was PVW Resources (ASX:PVW) up 57% after confirming high-grade heavy rare earths at its Tanami project in WA.

The company says around 80% of the rock chip samples (13/17) from Killi Killi East returned assays greater that 1% TREO with one sample from Watts Rise assaying 3.9% TREO.

“These are significant Heavy Rare Earth results. Following my time as managing director of Northern Minerals (ASX:NTU) for over 10 years, I believe these results are as significant as those announced in 2010 when the Wolverine deposit was first discovered at Browns Range,” executive director George Bauk said.

Cannon Resources (ASX:CNR) jumped 35% off the back of news that the first three holes from its diamond drilling campaign at the Fisher East Nickel project have returned high grade nickel sulphides at Musket.

And Trek Metals (ASX:TKM) was up 26% after announcing the potential for a large-scale VMS base metal system at the Valley of the Gossans prospect at its Pincunah project in the Pilbara.

 

ASX SMALL CAP LOSERS

Code Name Price % Change Market Cap
MLS Metals Australia 0.0015 -25 $ 10,477,114.72
NPM Newpeak Metals 0.0015 -25 $ 13,654,870.31
CBE Cobre 0.1 -20 $ 14,992,241.25
NTL New Talisman Gold 0.002 -20 $ 8,018,063.41
PGH Pact Group Hldgs Ltd 2.83 -18 $ 1,184,357,782.32
VPR Volt Power Group 0.0025 -17 $ 28,033,600.67
CDR Codrus Minerals Ltd 0.135 -16 $ 6,400,000.00
FAU First Au Ltd 0.012 -14 $ 8,604,802.56
MKL Mighty Kingdom Ltd 0.13 -13 $ 14,419,249.20
EVE EVE Investments Ltd 0.0035 -13 $ 15,372,567.56
CNL Celamin Holdings Ltd 0.08 -12 $ 17,749,149.05
DMC Design Milk Co Ltd 0.335 -12 $ 13,791,260.96
OPN Oppenneg 0.16 -11 $ 20,650,503.24
WFL Wellfully Limited 0.13 -10 $ 30,424,257.57
QML Qmines Limited 0.355 -10 $ 20,814,698.01
FFI F.F.I. Holdings 6.85 -9 $ 81,133,167.18
TDO 3D Oil Limited 0.05 -9 $ 14,585,360.46
MTR Metal Tiger 0.35 -9 $ 7,729,135.26
ACU Acumentis Group Ltd 0.16 -9 $ 30,413,686.10
GCY Gascoyne Res Ltd 0.385 -8 $ 105,438,044.88
OAR OAR Resources Ltd 0.011 -8 $ 22,254,776.69
EGY Energy Tech Ltd 0.12 -8 $ 22,395,777.82
BLZ Blaze Minerals Ltd 0.025 -7 $ 9,315,003.00

The biggest loser was a tie today between Metals Australia (ASX:MLS) and Newpeak Metals (ASX:NPM), both down 25% on no news.

Cobre (ASX:CBE) dropped 20% after reporting no economic intersections from RC and diamond drilling at the Endurance Prospect on its Kitlanya East project in Botswana.

Also down 20% was New Talisman Gold (ASX:NTL) after terminating the management services contract for Asia Pacific Capital Group with Matthew Hill to be acting with reduced delegated authority as CEO during his three-month notice period.

And down 18% was Pact Group Holdings (ASX:PGH) after ceasing the sale process of its Contract Manufacturing businesses citing continued market uncertainty and supply chain disruption arising from COVID-19 creating challenges in realising its value expectation.

The post ASX Small Cap Lunch Wrap: Who’s nabbed a deal with NASA today? appeared first on Stockhead.






Author: Emma Davies

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Base Metals

Monsters of Rock: Lithium shares flush with positive sentiment to dominate the gains

Lithium miners were the kings, queens, jacks and aces of the bourse on an avalanche of positive news around the … Read More
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Lithium miners were the kings, queens, jacks and aces of the bourse on an avalanche of positive news around the sector.

The biggest trigger was probably the incredible rise in value for Tesla overnight, which soared beyond a US$1 trillion valuation on news Hertz would order US$4 billion worth of electric vehicles from the automaker.

As the leading electric vehicle maker in the western world, and with a big presence also in China and energy storage, Tesla is one of the biggest end users of lithium products globally.

Its boss Elon Musk, now the richest man ever, has a fair bit of sway on the market as well.

On top of that Pilbara Minerals (ASX:PLS), up 525% over the past 12 months since spodumene prices bottomed out at under US$400/t (it sold a batch for upwards of US$2000/t last month), gained 7.66% after formally announcing plans to develop a lithium chemical plant in a JV with South Korea’s POSCO.

Core Lithium (ASX:CXO) declared the start of construction on its Finniss Lithium Mine in the Northern Territory. That will be shipping concentrate from the end of 2022.

$550 million capped Neometals (ASX:NMT) was up 14% after announcing its battery recycling demonstration plant in Hilcenbach, Germany, had been fully commissioned.

The one time lithium miner is up 405% over the past year.

Vulcan Energy (ASX:VUL), Sayona (ASX:SYA), Liontown (ASX:LTR) and Orocobre (ASX:ORE) were among the lithium miners to dine out on the day’s news, while rare earths miner Lynas (ASX:LYC) was also up.

On the flippity flip, iron ore miners were weak with Fortescue (ASX:FMG) and Rio Tinto (ASX:RIO) cancelling out a gain from BHP (ASX:BHP), while Mineral Resources (ASX:MIN) cancelled out the gains it made with yesterday’s announcement the Wodgina lithium mine would be coming back online with news it ate a 48% price discount on iron ore sales in the September Quarter.

MinRes’ average realised prices fell from US$178/t to around US$78/t between the June and September Quarters.

The bright green is all lithium baby. Pic: Commsec

 

Base metals inventories falling, but can it be sustained?

Base metals were back up on Monday, with production cuts in energy starved China and Europe hitting primary supply.

Inventories held by the major exchanges are being chewed up.

While price moves among the miners was muted, nickel rose 3.2% to climb back over US$20,000/t overnight after hitting US$21,000/t briefly last week.

“Nickel rallied after Eramet disclosed a 19% drop in ferronickel production from its operations in New Caledonia,” ANZ analysts said in a note.

“The market is also showing signs of tightness, with cash contracts closing at their biggest premium to futures in two years. LME inventories are down nearly 50% since April.”

LME stockpiles for copper hit their lowest level since 1974 last week, but Commbank analyst Vivek Dhar says it is too early to say whether the market is as tight as it seems, or whether some traders are hoarding to capitalise on high prices.

The market is expected to be in a small deficit at the end of this year to a 328,000t surplus in 2022 on rising supply (about 1.3% of global demand).

Mined supply is expected to increase 2.1% this year and 3.9% in 2022, but Dhar warned copper miners had a history of underwhelming.

“The rising forecasts for copper mine production reflect 5 major copper projects due to arrive by the end of 2022,” Dhar said.

“That compares with just two major copper projects in the last 4 years.

“Given the track record of mine disruptions (i.e. labour strikes, power and water scarcity and geopolitics) and the decline in copper grades, elevated copper mine production growth forecasts don’t tend to last long.

“We think it’s worth considering that new mine supply may take longer than currently expected to hit the market.”

The post Monsters of Rock: Lithium shares flush with positive sentiment to dominate the gains appeared first on Stockhead.







Author: Josh Chiat

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Energy & Critical Metals

Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths

Let’s get into it. Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective. It’s in an … Read More
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Let’s get into it.

Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective.

It’s in an uptrend. The moving averages are sloping up.

It’s shown us that when it wants to the market can get a hold of it – as evidenced by the fierce run from 1.5c to 6c at the start of this year.

 

Chart of the Day: Ionic Rare Earths (ASX:IXR)

There are no immediate gaps on the chart to worry about that need to be filled.

The company surpassed 4c resistance yesterday on increasing volume, which was a positive sign. However, after touching 4.5c in intra-day trade, it has now settled back to close at 4.2c, leaving a daily selling candle.

That infers that a test of 3.8 – 4c may be on the cards.

In our view that would make attractive buying.

Given the negative response to the scoping study in late April, there are plenty of immediate upside targets, the most immediate being 4.7c, with further potential to those March highs above 6c.

Back the other way, and we don’t need to hold this below 3.5c.

The company is well funded – reporting over $11m on balance sheet at their last quarterly – with an updated quarterly anticipated before the end of the month.

We are long as of yesterday, and will manage the trade to the above risk, looking for 4.7c first, with potential to above 6c if things go their way.

Steve Collette of Collette Capital Pty Ltd (ABN 56645766507) is a Corporate Authorised Representative (No. 1284431) of Sanlam Private Wealth (AFS License No. 337927), which only provides general advice.

Collette Capital only makes services available to professional and sophisticated investors as defined by the Corporations Act, Section (s)708(8)C and 761G(7)C.

The Collette Capital Wholesale IMA Strategy has returned +24.83% p.a. net of all fees as at the end of September 2021 since inception in January 2015 (using the Time Weighted Return method of calculating returns).

Learn more at www.collette.capital

The post Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths appeared first on Stockhead.


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Energy & Critical Metals

Hastings could be next in line to produce rare earths in Australia with plant approval in Onslow

Rare earths player Hastings Technology Metals (ASX:HAS) has just secured environmental approval for construction of the downstream processing plant at…

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Rare earths player Hastings Technology Metals (ASX:HAS) has just secured environmental approval for construction of the downstream processing plant at its Yangibana rare earths project in Onslow in WA.

It’s a solid step on the path to production, with the plant set to perform hydrometallurgical processing of rare earths oxide concentrate from Yangibana into mixed rare earth carbonate (MREC) containing high levels of neodymium and praseodymium concentrate (NdPr).

NdPr are vital components used to manufacture permanent magnets that are required in advanced technology products ranging from electric vehicles to wind turbines, robotics, medical applications and digital devices.

And Yangibana contains one of the most highly valued NdPr deposits in the world, with NdPr:TREO ratios of up to 52%.

Australia’s next rare earths producer?

The Department of Agriculture, Water and the Environment (DAWE) approval follows DevelopmentWA Board sign-off last month for the company to enter discussions for an option to lease Ashburton North Strategic Industrial Area (ANSIA) Lot 600.

“This is a significant milestone for our Yangibana Rare Earths Project and further endorses Hastings’ decision last year to decouple the processing plant from the Yangibana mine site,” executive chairman Charles Lew said.

“The Commonwealth environmental approval will allow Hastings to construct the Onslow Rare Earths Plant for a full production rate of 15,000 tonnes of MREC per annum, unlocking the high-quality and NdPr-rich rare earths carbonate that we will produce at Yangibana.”

“Importantly, the Commonwealth approval is another positive step in Hastings’ journey to become Australia’s next rare earth producer.”

“Debt financing talks are advancing well and scheduled for conclusion before the end of this year and early stage civil works at the Yangibana mine site are in progress.”

Pic: Location of ANSIA highlighting the site chosen for the Onslow rare earths plant.

Plant construction kicks off in 2022

The company says that building the plant at ANSIA – which is around 15kms south-west of Onslow – is key to its downstream processing program because it offers access to piped natural gas, a plentiful supply of water and grid power.

Plus, the ANSIA location reduced the volumes of consumables and reagents needed to be transported to the Yangibana mine site by up to 80%.

Construction of the plant is due to begin in 2022, after the completion of early works at Yangibana mine site – and in line with Hastings’ target to produce its first MREC in early 2024.

The post Hastings could be next in line to produce rare earths in Australia with plant approval in Onslow appeared first on Stockhead.




Author: Emma Davies

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