ASX Lunch Wrap: Geopolitics rock the boat; Narryer up 80pc on scandium and REE find

The ASX dips amid geopolitical tensions, Amcor falls on $13 billion acquisition, while Narryer Metals strikes high-grade scandium and rare earths.

Narryer Metals discovers high-grade scandium and rare earths. Picture via Getty Images

• ASX down on geopolitical tensions

• Amcor drops amid $13 billion acquisition of Berry Group

• Narryer Metals discovers high-grade scandium and rare earths

The ASX was down by around 0.4% at 1pm on Wednesday, after a strong session yesterday that saw the benchmark reach a record closing high.

Investor sentiment was a bit more cautious today due to rising geopolitical tensions, especially in Ukraine where the country's long-range missiles have struck Russian territory, prompting Moscow to issue a nuclear warning.

Last night, US equities showed some recovery, led by a 5% jump in Nvidia, but geopolitical uncertainties have cast a shadow over the ASX with drops pretty much across the board.

Tech and Discretionary led the sell-offs, but goldies are at least continuing to make inroads.

Source: Market Index

Source: Market Index

In the large caps space, packaging giant Amcor (ASX:AMC) fell 0.75% following news that it will acquire US-based Berry Group in a deal valued at $13 billion.

The acquisition has raised concerns among investors about the potential risks and integration challenges involved in such a large deal.

Meanwhile, Nick Scali (ASX:NCK) has warned that its ability to meet profit guidance is at risk due to significant delays in its supply chain.

A key freight forwarder has gone into liquidation, causing major disruptions to the delivery of containers at Australian ports. The retailer said it's working with the Federal Court to secure the release of delayed containers. Nick's shares fell 0.5%.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for November 20 :

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%	50,001	$1,163,016
NYM	Narryermetalslimited	0.036	80%	4,201,265	$2,650,122
CR9	Corellares	0.006	50%	1,320,712	$1,860,370
TD1	Tali Digital Limited	0.002	50%	10,002,001	$3,295,156
DVL	Dorsavi Ltd	0.018	38%	27,949,477	$9,506,093
1TT	Thrive Tribe Tech	0.004	33%	53,101,662	$2,110,085
ASR	Asra Minerals Ltd	0.004	33%	4,227,487	$6,756,339
DTR	Dateline Resources	0.004	33%	25,000	$7,548,781
FAU	First Au Ltd	0.002	33%	1,503,250	$2,717,990
GTR	Gti Energy Ltd	0.004	33%	379,000	$8,888,849
SHG	Singular Health	0.115	26%	2,802,608	$18,815,097
ERA	Energy Resources	0.003	25%	22,466,635	$44,296,598
IS3	I Synergy Group Ltd	0.005	25%	400,000	$1,424,871
E25	Element 25 Ltd	0.305	22%	708,180	$54,978,100
TKM	Trek Metals Ltd	0.028	22%	199,354	$11,819,076
LAT	Latitude 66 Limited	0.079	22%	34,548	$9,270,045
ADD	Adavale Resource Ltd	0.003	20%	667,000	$3,059,413
EXL	Elixinol Wellness	0.006	20%	45,379	$7,800,356
LML	Lincoln Minerals	0.006	20%	348,957	$10,281,298
MM8	Medallion Metals.	0.096	20%	1,898,907	$32,639,604
L1M	Lightning Minerals	0.083	19%	821,471	$6,698,254
GRV	Greenvale Energy Ltd	0.034	17%	374,960	$13,738,138
JAV	Javelin Minerals Ltd	0.004	17%	3,242,672	$15,568,189
T3D	333D Limited	0.007	17%	2	$1,057,101
TEG	Triangle Energy Ltd	0.007	17%	200,141	$12,535,404

Narryer Metals (ASX:NYM) surged 80% after making a discovery at its Rocky Gully project in Western Australia, revealing high-grade scandium, rare earth elements (REE), vanadium and gallium.

Recent drilling identified mineralisation over a 1,400m strike and 800m width, with scandium oxide grades up to 518 ppm and rare earth oxide assays exceeding 1% TREO, including valuable magnet rare earths. Gallium mineralisation has also been detected. The company said these findings suggest a large-scale carbonatite system beneath the surface.

Singular Health Group Ltd (ASX:SHG)has signed an MOU with Provider Network Solutions (PNS) to pilot and possibly roll out its 3Dicom software across PNS’s network, covering 3.7 million member plans. The partnership aims to reduce duplicate medical imaging costs in the US, estimated at USD$30 billion annually. PNS will invest $500k in Singular, and Singular has raised $3.7m to support software development and the pilot program.

Dorsavi (ASX:DVL), a motion analysis device tech company, is planning to integrate blockchain technology into its core data platform to enhance data security and compliance, particularly for its enterprise clients in healthcare and workplace settings. The move aims to ensure secure, tamper-proof data transfers and align with strict regulations like HIPAA.

Medallion Metals (ASX:MM8) has confirmed the continuity of high-grade lodes at the Kundip Gem deposit, with key results including 26m at 3.4g/t Au, 0.2% Cu, and 3.7g/t Ag from 145m, including 4m at 15.6g/t Au. The drilling has exceeded expectations, and the results will inform an updated Mineral Resource Estimate (MRE) and support the development of the nearby sulphide project.

Surefire Resources (ASX:SRN) has received a formal Expression of Interest from German commodities group HMS Bergbau for vanadium and titanium offtake from its Victory Bore project. HMS Bergbau, with a global presence, is interested in a long-term partnership, including offtake and potential funding for processing facilities in Saudi Arabia.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for November 20 :

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

Code	Name	Price	% Change	Volume	Market Cap
AOK	Australian Oil.	0.002	-33%	7,035,399	$3,005,349
CDE	Codeifai Limited	0.002	-33%	665,950	$7,923,884
MTB	Mount Burgess Mining	0.001	-33%	774,782	$1,947,220
PWH	Pwr Holdings Limited	6.250	-31%	2,239,601	$913,120,303
88E	88 Energy Ltd	0.002	-25%	7,038,306	$57,867,624
AXP	AXP Energy Ltd	0.002	-25%	5,151,018	$11,649,361
CTO	Citigold Corp Ltd	0.003	-25%	4,000,000	$12,000,000
LNU	Linius Tech Limited	0.002	-25%	365,000	$12,302,431
MTL	Mantle Minerals Ltd	0.002	-25%	17,800,000	$12,394,892
NRZ	Neurizer Ltd	0.003	-25%	11,265,211	$8,724,477
BSN	Basinenergylimited	0.022	-21%	1,483,474	$2,921,789
TAS	Tasman Resources Ltd	0.004	-20%	32,000	$4,026,248
CRR	Critical Resources	0.007	-19%	6,143,231	$15,709,469
G11	G11 Resources Ltd	0.014	-18%	2,479,033	$16,432,576
ERW	Errawarra Resources	0.060	-17%	26,000	$6,906,288
ALM	Alma Metals Ltd	0.005	-17%	76,769	$9,399,133
AVE	Avecho Biotech Ltd	0.003	-17%	5,999	$9,507,891
BP8	Bph Global Ltd	0.003	-17%	1,100	$1,189,924
MOH	Moho Resources	0.005	-17%	166,666	$4,043,836
EV1	Evolutionenergy	0.028	-15%	1,054,807	$11,898,716
AS2	Askarimetalslimited	0.017	-15%	1,019,094	$2,057,403
WC1	Westcobarmetals	0.017	-15%	233,705	$3,050,007
ALY	Alchemy Resource Ltd	0.006	-14%	885,555	$8,246,534
LNR	Lanthanein Resources	0.003	-14%	358,367	$8,552,726

PWR (ASX:PWH) plunged over 25% after forecasting H1 FY25 NPAT to be between $3.2m and $3.7m, a significant drop from $9.8m in H1 FY24.

The decline was due to lower revenue in the OEM and aftermarket sectors, with OEM sales affected by halted EV programs and aftermarket revenue hit by economic pressures. However, motorsports and aerospace & defence markets remain strong, with aerospace & defence revenue expected to grow by 67%.

IN CASE YOU MISSED IT

Bevis Yeo reported that:

Dimerix (ASX:DXB) has concluded the fifth review of the ACTION3 phase III clinical trial safety data which evaluated available study data for participant safety, study conduct and progress.

The independent data monitoring committee (IDMC) successfully concluded the ACTION3 trial continue unchanged with no changes to design or safety monitoring, noting that no safety concerns have been noted to date, which is consistent with prior reviews and the existing and growing safety profile for DMX-200.

“This encouraging recommendation of the IDMC confirms the strong emerging safety profile of DMX-200 and suggests that DMX-200 does not add a burden of side effects to patients, compared to commonly used treatments such as high dose steroids and immunosuppressants,” chief medical officer Dr David Fuller said.

“DMX-200 offers real hope for the many patients suffering from FSGS kidney disease who currently have limited treatment options.”

Impact Minerals (ASX:IPT) has received a $512,000 tax incentive cash rebate from the Australian Taxation Office under the research and development tax incentive scheme for the spending in the financial year ending June 2024.

Proceeds from the rebate will be used to continue the pre-feasibility study on the company’s Lake Hope high purity alumina project, which is scheduled for completion in 1Q 2025.

It will also contribute to the accelerated start of a research and development project with CPC Engineering and Edith Cowan University to construct a pilot plant for Lake Hope, which is also the receipt of a $2.87m grant under the federal government’s CRC-P program.

“The unique mineralogy and patented and proprietary processing techniques for the Lake Hope high purity alumina project have allowed us to claim back a significant proportion of our expenditures on it through the R&D tax incentive program and this will be the case moving forwards,” managing director Dr Mike Jones said.

At Stockhead, we tell it like it is. While Dimerix, Singular Health and Impact Minerals are Stockhead advertisers, they did not sponsor this article.

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

Originally published as ASX Lunch Wrap: Geopolitics rock the boat; Narryer up 80pc on scandium and REE find