ASX Small Caps Lunch Wrap: Benchmark and goldies in good form out the gate

Local benchmark ticks up after solid showing on Wall Street late Friday.

Pic: Getty Images

• Local benchmark ticks up after solid showing on Wall Street late Friday

• Big guns MinRes and Westpac struggling but Telix jumps on positive news

• All eyes on the US election and the Federal Reserve this week

The ASX started the week on a positive note, up 0.33% following a strong lead from Wall Street.

With the US election and the Fed Reserve’s rates announcement coming up this week, investors are keeping a close eye on the market.

Tech and utilities sectors led the gains today, while commodity and energy-related stocks lagged.

Source: Market Index

Mineral Resources (ASX:MIN) dropped 9% after the company announced that founder and CEO, Chris Ellison, will resign within 18 months due to misconduct involving personal use of company resources.

Westpac (ASX:WBC) also struggled, falling 0.5% after reporting a 3% decline in net profit to $7 billion for FY24. The bank is set to pay a final dividend of 76¢, fully franked, which is a 6% increase from last year.

Crude prices surged over 1% this morning after OPEC+ announced a delay in its production increases, but energy stocks didn’t reflect the news, with Woodside Energy Group (ASX:WDS) and Ampol (ASX:ALD) dipping slightly.

Still in large caps and Telix Pharmaceuticals (ASX:TLX) jumped 2% as it celebrated a decision from the US Centers for Medicare & Medicaid Services (CMS) to start separate payments for specialised diagnostic radiopharmaceuticals.

This will make make it easier for patients to access advanced imaging tools like the ones Telix owns.

Read more on the Telix news in Tim Boreham's morning biotech/healthcare wrap, Health Check.

NOT THE ASX

Wall Street closed higher on Friday, with the S&P 500 up 0.51%, the Dow Jones climbing 0.69%, and the Nasdaq rising 0.8%.

The rally came despite a disappointing US jobs report showing only 12,000 jobs added in October, which could impact the Federal Reserve’s upcoming policy decision on Thursday (US time).

Amazon shares surged over 6% after a strong earnings report, while Intel jumped nearly 8% on positive quarterly results and guidance.

Trump Media & Technology fell over 13%, reflecting uncertainty ahead of the election; and Super Micro Computer continued to drop, down another 10.5% due to accounting issues that have raised concerns among investors.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for November 4 :

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

Code	Name	Price	% Change	Volume	Market Cap
EEL	Enrg Elements Ltd	0.002	100%	2,367,645	$1,163,016
ORD	Ordell Minerals Ltd	0.35	59%	4,256,373	$7,880,987
AMD	Arrow Minerals	0.002	33%	1,809,117	$19,835,442
BNL	Blue Star Helium Ltd	0.004	33%	1,023,205	$8,084,656
BP8	Bph Global Ltd	0.004	33%	325,000	$1,189,924
RBR	RBR Group Ltd	0.002	33%	4,800,000	$2,451,607
WGR	Western Gold Resources	0.034	31%	645,317	$4,429,231
PUA	Peak Minerals Ltd	0.0065	30%	32,209,165	$12,485,551
BDG	Black Dragon Gold	0.085	27%	6,407,335	$17,923,684
BYH	Bryah Resources Ltd	0.005	25%	500,000	$2,013,147
ERA	Energy Resources	0.0025	25%	3,776,296	$44,296,598
CUL	Cullen Resources	0.006	20%	1,140,191	$3,467,009
ATC	Altech Batt Ltd	0.054	17%	6,705,862	$89,050,009
HTG	Harvest Tech Grp Ltd	0.014	17%	722,155	$10,405,243
YRL	Yandal Resources	0.36	16%	909,770	$83,020,360
FBM	Future Battery	0.022	16%	1,824,625	$12,641,763
BMT	Beamtree Holdings	0.26	16%	177,862	$65,192,775
VSR	Voltaic Strategic	0.015	15%	3,427,518	$7,378,153
MNC	Merino and Co	0.535	15%	204,046	$24,680,605
MRQ	Mrg Metals Limited	0.004	14%	629,102	$9,542,815
STM	Sunstone Metals Ltd	0.008	14%	6,465,831	$36,042,325
RHK	Red Hawk Mining Ltd	0.795	14%	27,322	$139,868,035
LKY	Locksleyresources	0.027	13%	2,170,028	$3,520,000
ATS	Australis Oil & Gas	0.009	13%	322,738	$10,312,078
CCO	The Calmer Co Int	0.009	13%	986,119	$17,611,091

Blue Star Helium (ASX:BNL) has been rising today after having advised it's successfully completed its agreement to farm out a 50% interest in its Galactica/Pegasus project in Colorado, USA, to Helium One Global.

This is in exchange for the latter paying a US$1.5 million cash consideration and to fund the drilling of six development wells via a US$2.7m free carry. Blue Star will remain the operator of the gas project.

Ordell Minerals (ASX:ORD) was well up this morning after announcing "significant drill results" from recent, shallow, wide-spaced reverse circulation drilling at its Barimaia Gold Project, located near Mount Magnet in the Murchison region of Western Australia.

Drilling completed on section 585,640E returned high-grade gold mineralisation in 24BARC083 (29m at 2.52g/t Au from 81m) to the end of the hole at 110m. Meanwhile, visible gold was panned in the interval from 107m to 108m, which returned an intercept of 1m at 47.5g/t Au.

Another junior goldie, Western Gold Resources (ASX:WGR), was also a standout performer early doors. The company advised its Mining Proposal and Mine Closure Plan has been approved by the WA Department of Energy, Mines, Industry, Regulation and Safety for open pit mining operations at the Gold Duke project, west of Wiluna in Western Australia's Mid West.

And Future Battery Minerals (ASX:FBM) has been having a good Monday, too, having announced it's selling its 80% interest in the Nevada lithium project to Austroid Corporation for $4m in cash to focus on its lithium assets in WA’s Goldfields region.

ASX SMALL CAP LOSERS

Here are the most-worst performing ASX small cap stocks for November 4 :

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

Code	Company	Price	%	Volume	Market Cap
LNU	Linius Tech Limited	0.001	-50%	7,825,802	$11,730,481
AVE	Avecho Biotech Ltd	0.002	-33%	3,007,934	$9,507,891
TMK	TMK Energy Limited	0.002	-33%	194,174,178	$25,177,217
AUQ	Alara Resources Ltd	0.036	-27%	1,414,583	$35,186,290
GAS	State GAS Limited	0.033	-21%	2,566,090	$15,934,525
AD1	AD1 Holdings Limited	0.004	-20%	391,766	$5,486,742
AYT	Austin Metals Ltd	0.004	-20%	200,000	$6,620,957
CT1	Constellation Tech	0.002	-20%	337,907	$3,686,834
TTI	Traffic Technologies	0.004	-20%	40,000	$5,594,090
VFX	Visionflex Group Ltd	0.004	-20%	82,918	$14,589,123
MTC	Metalstech Ltd	0.145	-19%	91,024	$35,461,509
KNG	Kingsland Minerals	0.19	-17%	60,598	$14,133,454
HIQ	Hitiq Limited	0.025	-17%	604,739	$10,555,349
EPM	Eclipse Metals	0.005	-17%	600,000	$13,517,133
QXR	Qx Resources Limited	0.005	-17%	277,994	$6,660,467
SFG	Seafarms Group Ltd	0.0025	-17%	3,120,541	$14,509,798
MEK	Meeka Metals Limited	0.074	-15%	27,406,439	$168,319,676
GGE	Grand Gulf Energy	0.003	-14%	30,000	$8,576,355
NVA	Nova Minerals Ltd	0.2425	-13%	508,869	$76,142,327
HPC	The Hydration Company	0.013	-13%	486,428	$4,573,696
MGL	Magontec Limited	0.165	-13%	9,000	$15,132,316
BLU	Blue Energy Limited	0.007	-13%	188,184	$14,807,789
GCM	Green Critical Min	0.007	-13%	27,776,952	$12,208,341
KGD	Kula Gold Limited	0.007	-13%	32,574	$5,145,695
ODE	Odessa Minerals Ltd	0.007	-13%	3,863,947	$10,146,260

IN CASE YOU MISSED IT – AM EDITION

Intra Energy Corporation (ASX:IEC) has received commitment from sophisticated investors to raise $850,000 via a two-tranche non-brokered placement.

Tranche 1 will settle this week utilising the company’s existing placement capacity under Listing Rule 7.1 by the issue of 218m shares, raising $109,000.

Tranche 2 is subject to shareholder approval at the IEC’s upcoming annual general meeting (AGM) and will raise $612,000 by the issue of 1.22b shares.

Funds raised will be used to further exploration at the Maggie Hays Hill gold and lithium project in WA, the assessment of further value accretive opportunities, and general working capital.

Star Minerals (ASX:SMS) is undertaking a two for three renounceable rights issue of shares at 4cents per share raise up to $2.5m, representing a discount of 27% to the company’s last close of $0.055.

Funds raised will be spent towards exploration activity at the Cobra project in Namibia, assuming shareholders approve the issue of Consideration Shares and Performance Shares to Madison at a forthcoming general meeting of shareholders.

All new shares issued will rank equally with existing shares on issue and the company will apply for quotation of the new shares.

Directors of SMS intend to participate in the rights issue in the manner set out in the offer document.

CuFe (ASX:CUF) has completed the sale of the company’s mining rights at the JWD iron ore mine in WA to Newcam Minerals.

The company met all conditions precedent by 31 October with settlement of the transaction completed by November 1.

“We are pleased to complete this agreement with Newcam and thank them for their assistance in achieving this,” CUF executive director Mark Hancock said.

“We would also like to thank all those who have assisted us over our time at JWD.”

Aura Energy (ASX:AEE) has appointed Mohamed El Moctar Mohamed El Hacene to the newly established role of country manager for Mauritania.

Hacene is a highly qualified Mauritian national with extensive experience in mining and international affairs and previously served as Mauritania’s Minister of Petroleum and Mines from 2007 to 2008.

He started work with AEE on 1 November after ten years with the United Nations as director, economic development and integration division, economic and social commission for Western Asia based in Lebanon.

“We are very pleased to welcome Moctar to the Aura Energy team, his experience is outstanding and his passion for the Tiris uranium project and developing the mining industry in Mauritania is formidable,” AEE managing director and CEO Andrew Grove said.

At Stockhead we tell it like it is. While Intra Energy Corporation, Star Minerals, CuFe, Aura Energy and Future Battery Minerals are Stockhead advertisers, they did not sponsor this article.

Originally published as ASX Small Caps Lunch Wrap: Benchmark and goldies in good form out the gate