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Closing Bell: Somebody told somebody China might want Aussie coal again, willing markets bite

Australian small caps are trading well over 1.5% higher on Thursday afternoon as mining and energy stocks come back in … Read More
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This article was originally published by Stockhead
  • The ASX 200 is up, the XEC is up solidly 
  •  Energy, resources, materials are back in black
  •  US CPI was a tough read, but not fatal

 

Australian small caps are trading well over 1.5% higher on Thursday afternoon as mining and energy stocks come back in favour, boosted by commodity prices and the cheeky rumour out of Shaw and Partners of good news for Aussie coal in the August post from China.

In fact, if I’ve got a hard copy of Pete O’Connor from Shaw and Partners’ note entitled, Coal: China reversing import ban (headline) then it’s fair to say this bag is entirely cat-less.

Still, reliable source or no – one cannot argue with the Shaw charts, which are always marvellous:

Coal price trends … thermal coal sticky around US$400/t whilst met coal back-tracked to ~$250/t

That’s some pretty spiky met and thermal prices.

In any case this is the tale of the tape for coal co’s after 3.30pm on Thursday:

  • Coronado Coal up circa 8.5%
  • Yancoal added 8%
  • Whitehaven added 7%
  • New Hope Coal added 7%

“After recording five consecutive weeks of falls and desperate to avoid a sixth, the Materials sector has rebounded, led by another round of stellar gains for the coal miners on talk that China would end its unofficial ban on Australian coal imports in the coming months,” Tony Sycamore at City Index says.

The rebound follows another ripping yarn of a US June CPI read (9.1%) and at home, a further decline in the unemployment rates to 3.5% in June.

Booktopia closed the chapter on Tony Nash as CEO. Sigh. I think that was his baby.

 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for July 14 [intraday]:

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

Code Company Price % Volume
ANL Amani Gold Ltd 0.0015 50% 2,130,686
ZLD Zelira Therapeutics 3.2 43% 94,880
KLI Killi Resources 0.195 34% 18,100
AFW Applyflow Limited 0.002 33% 713,009
VPR Volt Power Group 0.002 33% 5,731,183
WBE Whitebark Energy 0.002 33% 260,498
DEV Devex Resources Ltd 0.3 30% 400,234
MKL Mighty Kingdom Ltd 0.04 29% 569,050
PNT Panther Metals 0.24 26% 1,250,135
W2V Way2Vat 0.039 26% 588,820
HCD Hydrocarbon Dynamic 0.016 23% 1,138,098
ZAG Zuleika Gold Ltd 0.027 23% 940,847
EQS Equity Story Group 0.087 23% 13,467
CAY Canyon Resources Ltd 0.058 21% 4,276,131
VOL Victory Offices Ltd 0.018 20% 225,500
AYM Australia United Min 0.006 20% 83,333
GMN Gold Mountain Ltd 0.006 20% 154,976
TSC Twenty Seven Co. Ltd 0.003 20% 356,350
AQC Auspac Coal Ltd 0.105 19% 14,658
GGG Greenland Minerals 0.058 18% 1,533,664
SMX Security Matters 0.13 18% 32,720
CNB Carnaby Resource Ltd 1.09 18% 1,576,846
ACB A-Cap Energy Ltd 0.06 18% 1,816,263
GW1 Greenwing Resources 0.235 18% 253,882
BTN Butn Limited 0.14 17% 99,885

Panther Metals (ASX:PNT) wins, with the explorer smashing out a bonanza-grade gold find at its Burtville East prospect.

Investors just about broke their backs today says Sir Gregor of Stronach, piling on board as PNT found circa 30%, thanks to visible gold being panned out of one hole at the prospect, and gob-smacking results like 15m at 53.94g/t gold from 27m, including:

  • 1m at 79.90g/t gold from 27m,
  • 1m at 478.00g/t gold from 28m,
  • 1m at 125.50g/t gold from 34m, and
  • 1m at 43.80g/t gold from 35m

Also up a stonking 30% or so is Killi Resources (ASX:KLI). They’re out at their West Tanami project in WA mobilising drill rigs for a maiden drilling program.

The company plans to complete around 10,000m of air-core (AC) and reverse-circulation (RC) drilling, with the focus on high priority gold and rare earth element hydrothermal targets generated at the northern end of the tenement package.

Killi says it is also mobilising a diamond drill rig to complete at least one deep drill hole to a depth of ~800-1,000m – which will be funded by the Western Australian Geological Survey’s latest round of Exploration Incentive Scheme (EIS) funding.

The EIS will contribute up to $150k towards the drill hole.

“We’ve been working hard over the last few months to get on the ground and start our drilling campaign for the year,” CEO Kathryn Cutler said.

“Drill rigs are now mobilising to site, to complete the first RC and Diamond holes on the project.

“We look forward to getting the rods spinning soon and unlocking the potential of the project,” she added.

Also having a corker this morning were Australian Pacific Coal (ASX:AQC), up 19% on soaring coal prices.

And finally, Zelira Therapeutics (ASX:ZLD) keeps on rocketing (up circa 34%) after its product approval news from German regulatory authority BfArM (The Federal Institute for Drugs and Medical Devices –  Bundesinstitut für Arzneimittel und Medizinprodukte if you’re a curious one), now that it’s all been squared away with the ASX as well.

 

ASX SMALL CAP LOSERS

Here are the best performing ASX small cap stocks for July 14 [intraday]:

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

Security Description Last % Volume
KWR Kingwest Resources 0.065 -19% 2,110,822
AL3 Aml3D 0.066 -18% 1,690,836
AJX Alexium Int Group 0.024 -17% 219,486
TNY Tinybeans Group Ltd 0.2 -17% 1,000
BAT Battery Minerals Ltd 0.005 -17% 1,936,646
TKL Traka Resources 0.005 -17% 1,767,142
GCR Golden Cross 0.011 -15% 9,344
EXP Experience Co Ltd 0.18 -14% 448,466
ADV Ardiden Ltd 0.006 -14% 4,569,309
CTO Citigold Corp Ltd 0.006 -14% 166,666
LNU Linius Tech Limited 0.006 -14% 627,086
RR1 Reach Resources Ltd 0.003 -14% 12,077,522
NIM Nimy Resources 0.305 -14% 190,719
RNT Rent.Com.Au Limited 0.032 -14% 627,956
BNZ Benzmining 0.37 -13% 36,060
SKY SKY Metals Ltd 0.054 -13% 66,667
ST1 Spirit Technology 0.055 -13% 322,030
ARO Astro Resources NL 0.0035 -13% 1,000,000
CLE Cyclone Metals 0.0035 -13% 5,347,892
INP Incentiapay Ltd 0.007 -13% 400,000
FG1 Flynngold 0.105 -13% 287,107
PFT Pure Foods Tas Ltd 0.175 -13% 147,637
GCX GCX Metals Limited 0.057 -12% 67,103
SRZ Stellar Resources 0.015 -12% 2,350,734
MAU Magnetic Resources 0.975 -11% 47,397

There are no small cap losers, only small companies which did not perform as well as hoped today.

 

IN CASE YOU MISSED IT

It’s a case of do you want the good news or bad news for BBX Minerals (ASX:BBX), which has released mixed assay results for diamond drill holes TED 011 and TED 012 from its 2020-21 drilling program at the Três Estados project in Brazil. 

BBX said TED 012 results show consistent platinum mineralisation and local iridium and rhodium values from surface to 31m and 19.74m to the end of the hole at 80.74m.

But TED 011 returned no value for PGMs and only sporadic low values for gold.

CEO Andre J Douhane said to understand how the hole could be void, BBX undertook a detailed review of its geology.

“To me personally, the positive thing about the barren hole was that since the previous hole (TED 010) contained significant results in terms of grade, and the subsequent hole (TED 012) had significant grades and continuity, the blank hole further validates both the assay method and results from other holes.”

In further resources news, American Rare Earths (ASX: ARR) said drill assay results from the Overton Mountain area confirm Halleck Creek’s potential as one of the largest rare earths deposits in North America.

From March to April ARR drilled nine holes for 917m and collected 650 core samples. Assay results from 382 samples from five core holes demonstrates consistent rare earth mineralisation associated with clinopyroxene quartz monzonite (CQM) rocks of the Red Mountain Pluton (RMP)

ARR said it’s now well progressed in planning for an exploration drilling campaign in CY2022 to define a maiden JORC resource at Halleck Creek.

Finally, it’s a slow-go at Moho – with comprehensive assays still some time away – but the digger says it has already received encouraging signs of nickel sulphides at the Black Swan prospect.

The recently completed drill program outlined the apparently undisturbed basal contact of target komatiite ultramafics that could host nickel sulphides due to evidence of substantial settling and accumulation of olivine over about 300m strike of the komatiite.

Hmm… komatiite ultramafics. 

Moho Resources (ASX:MOH) noted that four of the 12 holes drilled had identified a 25m to 30m depression in the komatiites at the southern end plunging southeast.

Further drilling of the depression will be required to determine if it develops further into a channel at depth and provides a site for settling and accumulation of nickel sulphide mineralisation. This komatiite is also open to the southeast but closed off to the northwest.

“This drill program has provided critical information for Moho to vector in on the nickel sulphide potential at Black Swan South,” managing director Ralph Winter says.
 

TRADING HALTS

Kincora Copper (ASX:KCC) – in relation to material assay results

 

The post Closing Bell: Somebody told somebody China might want Aussie coal again, willing markets bite appeared first on Stockhead.





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