Rise and Shine: Everything you need to know before the ASX opens

Good morning! Here’s everything you need to know, and some things you don’t, before the ASX flings open its doors and begins trading today.

Everything you need to know before the ASX opens. Pic: Getty Images

Good morning, and welcome to Rise and Shine on Tuesday, May 6, 2025.

We won't tarry here long this morn, but before we get stuck into the info you've likely come here for (further below), there's time for a very quick nod to May 6, 88 years ago.

For it was on this day in 1937 that the Hindenburg airship exploded and crashed while attempting to land at Lakehurst, New Jersey, on its first transatlantic crossing of the year.

Tragically, the German dirigible, the largest ever aircraft built at that time, burst into flames after a spark lit a hydrogen gas leak. It was destroyed, killing 36 of the 97 people aboard.

Normally we try to keep this section nice and light. Sorry about that.

Possibly the most significant of other events to have occurred on this day in history (according to the Britannica site) was King Charles and Queen Camilla's coronation a couple of years ago, and the final episode of Friends airing in 2004. And we're simply not going there with either of those things.

Onto your markets info…

COMMODITY/FOREX/CRYPTO MARKET PRICES

• Gold: US$3,262.22/oz (+0.63%)
• Silver: US$32.4/oz (+1.23%)
• Iron Ore: US$96.1/t (+0.37%)
• Nickel (3mth): US$15,480/t (-0.865%)
• Copper (3mth): US$9,365.5 (-0.133%)
• Zinc: US$2,607.5/t (-0.987%)
• Lithium carbonate (99.5% Min China Spot): US$9,317.54 (-0.44%)
• Oil (WTI): US$58.18/b (-1.5%)
• Oil (Brent): US$61.29/b (-4.83%)
• AUD/USD: 0.6472 (+0.4254%)
• Bitcoin: US$94,882.80 (+0.38%)

WHAT GOT YOU TALKING

Tylah Tully speaks with @BuxtonResources non-executive chair Gervaise Heddle about its recent $3 million placement and EIS government grant. https://t.co/TvHxwqmzNJ #ASX #mining $BUX

— Stockhead (@StockheadAU) May 4, 2025

Also in the news...

Wondering what a second Labor government term means for the markets? Stockhead’s own Eddy Sunarto has you covered, exploring the implications for critical minerals and the ASX itself.

The US health sector is also showing signs of stabilising, a great sign for biotechs with exposure to US markets including stocks like Dimerix (ASX:DXB) and Alterity Therapeutics (ASX:ATH).

ASX SMALL CAP LEADERS

Today’s best performing small cap stocks:

Security	Description	Last	%	Volume	MktCap
XPN	Xpon Technologies	0.021	250%	70221284	$2,174,649
ANX	Anax Metals Ltd	0.01	100%	51352795	$4,414,038
AFA	ASF Group Limited	0.006	50%	94	$3,169,590
AXP	AXP Energy Ltd	0.0015	50%	270000	$6,574,681
PCL	Pancontinental Energ	0.012	50%	21351041	$65,092,687
RLL	Rapid Lithium Ltd	0.003	50%	5264969	$2,489,889
KPO	Kalina Power Limited	0.007	40%	2196679	$14,471,099
SPX	Spenda Limited	0.007	40%	32569213	$23,076,077
GTE	Great Western Exp.	0.019	36%	334054	$7,948,611
ADG	Adelong Gold Limited	0.008	33%	22104925	$8,384,917
AUK	Aumake Limited	0.004	33%	215727	$9,070,076
CT1	Constellation Tech	0.002	33%	553114	$2,212,101
KGD	Kula Gold Limited	0.009	29%	474189	$6,448,776
EQX	Equatorial Res Ltd	0.115	28%	165052	$11,830,082
OD6	Od6Metalsltd	0.028	27%	928833	$3,503,406
CTN	Catalina Resources	0.0025	25%	213317	$3,327,519
HLX	Helix Resources	0.0025	25%	2288887	$6,728,387
SPG	Spc Global Holdings	0.39	24%	32806	$60,789,293
VR8	Vanadium Resources	0.016	23%	219603	$7,335,794
PUA	Peak Minerals Ltd	0.011	22%	3899791	$25,265,892
SMP	Smartpay Holdings	0.925	22%	533197	$183,877,033
SRR	Saramaresourcesltd	0.034	21%	143164	$7,620,232
DAL	Dalaroometalsltd	0.03	20%	1026086	$6,223,798
L1M	Lightning Minerals	0.06	20%	119871	$5,166,416
CCO	The Calmer Co Int	0.003	20%	737094	$6,694,362

Making news…

Anax Metals (ASX:ANX) locked in a $3.3 million funding deal from a global player called Mineral Development Partners (MDP). MDP has agreed to tip in up to $103 million all up, backing Anax’s push to bring the Whim Creek copper project in WA back to life, and turn it into a major base metals hub for the Pilbara. Anax says the backing is needed to fire up Whim Creek and grow into a serious copper and base metals contender.

XPON Technologies (ASX:XPN) skyrocketed by 300% after snapping up Alpha Digital, a well-known Aussie digital marketing outfit and long-time partner of the business, in a deal set to wrap up in early May. The buyout is worth $1.72 million upfront, with a bit extra on the table if Alpha hits future earnings targets.

Alpha pulled in $4.6 million in revenue last year and comes with around a million bucks in cash. The plan now is to plug in XPON’s AI smarts to supercharge Alpha’s offering, and roll out more tools to big-name clients like Target, Kmart and QUT. XPON reckons this could be the first of many in a repeatable “acquire, AI-enable, cross-sell” strategy.

SmartPay (ASX:SMP) shares jumped after it entered exclusive talks with a mystery buyer offering $NZ1.20 a share. It had been weighing up offers from that bidder and Tyro, but went with the first after a sweetened proposal landed in late April. Tyro’s now out of the race, and Smartpay’s got until June 9 to lock in a deal.

ASX SMALL CAP LAGGARDS

Today’s worse performing small cap stocks:

Code	Name	Price	% Change	Volume	Market Cap
TKL	Traka Resources	0.001	-50%	231139	$4,251,580
88E	88 Energy Ltd	0.001	-33%	4682292	$43,400,718
VML	Vital Metals Limited	0.002	-33%	17428432	$17,685,201
BGE	Bridgesaaslimited	0.016	-30%	144030	$4,596,762
AN1	Anagenics Limited	0.006	-25%	4400838	$3,970,563
AON	Apollo Minerals Ltd	0.012	-25%	12814623	$14,855,310
VEN	Vintage Energy	0.003	-25%	285611	$7,155,687
BLU	Blue Energy Limited	0.007	-22%	689075	$16,658,762
LYK	Lykosmetalslimited	0.014	-22%	113420	$4,238,000
DTR	Dateline Resources	0.021	-22%	1.2E+08	$74,670,353
C1X	Cosmosexploration	0.067	-20%	85870	$8,691,195
HCF	Hghighconviction	0.036	-20%	283510	$873,292
AVE	Avecho Biotech Ltd	0.004	-20%	5116827	$15,867,318
CAV	Carnavale Resources	0.004	-20%	444119	$20,451,092
RAS	Ragusa Minerals Ltd	0.017	-19%	16281	$2,994,575
MQR	Marquee Resource Ltd	0.009	-18%	50000	$5,340,285
PLY	Playside Studios	0.135	-18%	2673921	$67,521,652
BRX	Belararoxlimited	0.071	-18%	1188480	$13,539,184
NGS	NGS Ltd	0.0225	-17%	380247	$3,658,036
EQS	Equitystorygroupltd	0.025	-17%	420003	$5,004,612
HIQ	Hitiq Limited	0.025	-17%	110034	$11,026,874
1AD	Adalta Limited	0.005	-17%	1235809	$3,859,337
1AI	Algorae Pharma	0.005	-17%	50357	$10,124,368
BPP	Babylon Pump & Power	0.005	-17%	910000	$14,997,294
CHM	Chimeric Therapeutic	0.005	-17%	1000001	$10,904,117

Trading Halts

ARC Funds (ASX: ARC) - potential cap raise
Aurum Resources (ASX:AUE) - cap raise
FOS Capital (ASX:FOS) - proposed acquisition
MyEco Group (ASX:MCO) - issue of convertible notes
NewPeak Metals (ASX:NPM) - update on the AusVan Battery Metals transaction
White Cliff Minerals (ASX:WCN) - material assays
Yari Minerals (ASX:YAR) - acquisition

At Stockhead, we tell it as it is. While Dimerix is a Stockhead advertiser, the company did not sponsor this piece.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.