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

All the market, commodity and stock news you need to know as the ASX tunes up for action on Friday.

Play Piano Man, Fido. Pic: Getty Images

Good morning everyone, and welcome to Friday, October 4, 2024 – an important date in the history of job losses caused by automation.

That’s because it was on this day that Edward Leveaux patented the automatic player piano – what we’d call a pianola – which is basically a piano that ran on punch cards to play music.

At the time, a scare campaign against the automation of jobs suggested that this would be the beginning of the end for live piano performances, but as it turns out key ticklers had the last laugh. 

They're still here and old-style pianolas have become a historical curiosity.

Luckily for you, you won’t need to be concerned about automation stealing yer job in order to get your hands on good pre-market info today.

That’s because – as always – we’ve worked super-hard to gather together lots of fiddly little things below, so you don’t need to go ferreting all over the internet for your ASX info this morning.

COMMODITY/FOREX/CRYPTO MARKET PRICES

Gold: US$2,646.99/oz (-0.50%)

Silver: US$31.47/oz (-1.20%)

Nickel (3mth): US$18,153/t (+2.50%)

Copper (3mth): US$10,084.50/t (+1.06%)

Zinc: US$3,176.50/t (+0.86%)

Oil (WTI): US$71.06/bbl (+1.37%)

Oil (Brent): US$74.83/bbl (+1.26%)

Iron Ore: US$108.90/t (+0.72%)

AUD/USD: 0.6862 (-0.3%)

Bitcoin: US$61,254.50 (+1.02%)

WHAT GOT YOU TALKING

Resources legend Barry FitzGerald's chat with Antipa Minerals (ASX:AZY) boss Roger Mason caught the ear, with Greatland Gold's US$475 million deal opening doors in WA's Paterson Province.

Explorers Podcast host Barry FitzGerald is joined by Antipa Minerals managing director Roger Mason to chat all things gold in the Paterson.https://t.co/GpF8nWH96Y #ASX $AZY @AntipaMinerals

— Stockhead (@StockheadAU) October 3, 2024

THURSDAY’S ASX SMALL CAP LEADERS

Here are the best-performing ASX small cap stocks:

Code	Name	Price	% Change	Volume	Market Cap
AKN	Auking Mining Ltd	0.006	50%	3,389,246	$1,410,281
ERL	Empire Resources	0.003	50%	1,585,059	$2,967,826
VML	Vital Metals Limited	0.003	50%	6,500,000	$11,790,134
HIQ	Hitiq Limited	0.020	43%	839,747	$4,925,830
VAR	Variscan Mines Ltd	0.010	43%	2,952,664	$3,101,003
XPN	Xpon Technologies	0.010	43%	3,429,051	$2,537,090
PFT	Pure Foods Tas Ltd	0.021	40%	22,420	$1,831,384
FIN	FIN Resources Ltd	0.007	40%	344,795	$3,246,344
OEC	Orbital Corp Limited	0.145	38%	882,823	$15,335,976
ERA	Energy Resources	0.011	38%	12,960,509	$177,186,394
GMN	Gold Mountain Ltd	0.004	33%	2,771,346	$11,722,420
H2G	Greenhy2 Limited	0.004	33%	5,635,363	$1,794,553
MHC	Manhattan Corp Ltd	0.002	33%	9,173,193	$4,638,800
VRC	Volt Resources Ltd	0.004	33%	1,573,020	$12,476,034
YAR	Yari Minerals Ltd	0.004	33%	58,223	$1,447,073
ENX	Enegex Limited	0.020	33%	69,710	$5,533,740
NYR	Nyrada Inc.	0.115	32%	2,884,881	$15,852,157
ILA	Island Pharma	0.105	31%	4,142,050	$10,151,108
INV	Investsmart Group	0.140	27%	10,000	$15,693,753
LU7	Lithium Universe Ltd	0.015	25%	7,755,349	$7,126,963
MBK	Metal Bank Ltd	0.025	25%	540,524	$7,809,186
CTO	Citigold Corp Ltd	0.005	25%	1,125,011	$12,000,000
A8G	Australasian Metals	0.135	23%	69,919	$5,733,254

Island Pharmaceuticals (ASX:ILA) jumped nearly 40% after successfully dosing all subjects in the Phase 2a part of its ISLA-101 clinical trial for dengue fever. This trial, called PROTECT, includes both a preventative (Phase 2a) and a therapeutic (Phase 2b) approach. Starting today, subjects will be exposed to an attenuated strain of the dengue virus, and results from Phase 2a are expected by the end of 2024. The Phase 2b trial is set to begin in January 2025.

As part of this, ILA is raising $3.5 million in a two-tranche placement to achieve its “near term inflexion points”. The raising was struck at 7 cents per share, a 12% discount, with one attached options for every share issue at the same price. Half of the oppies expire within 12 months of issue; the other half within 24 months. Subject to shareholder approval, the placement was supported by well-known biotech names including Dr Daniel Tillett, the head of cancer drug repurposer Race Oncology (ASX:RAC).

Chariot Corporation (ASX:CC9) is up on announcing a tactical change to monetising its Black Mountain hard rock lithium project in Wyoming, USA. The junior now envisions a shift from exploring for a large-scale resource to instead test the viability of a pilot mine at the project that could rapidly produce spodumene concentrate to capitalise on the growing lithium supply deficit in the North American market.

The contemplated modular plant design is expected to reduce upfront costs and offer flexibility to scale up rapidly, and says the new long-term pilot mine strategy could provide short-term cash flow and optimise future development options – including its original large-scale mining plans for the project.

The new plan near-term consists of 4300m of Phase 2 RC drilling to define a high-priority, small-scale lithium resource to underpin the pilot mine and establish the foundation for future larger-scale resource definition.

pXRF results from preliminary field mapping at Golden Mile Resources (ASX:G88)’s Ford prospect at the Pearl project have highlighted an 8m-wide fault zone at surface hosting visible copper and polymetallic mineralisation, with:

• Copper values up to 13.4%
• Lead values up to 1.29%; and
• Zinc values up to 7.22%.

The project is certainly shaping up as a polymetallic play, the news coming just days after the company reported exceptional rock chip assays of up to 930g/t silver, 10.05% copper, and 8.09% zinc from first pass sampling at the Odyssey prospect.

Firebird Metals (ASX:FRB) was up on yesterday’s news.  The design for FRB’s proposed battery-grade manganese sulphate plant in Jinshi, China has been approved – a crucial step in the Middle Kingdom’s development process for these types of projects. Plans for the development of the plant will cover a total land area of 12.09 hectares, with a building area of 84,399km2 and a designated greening area of 11,960km2.

FRB says through the approval of preliminary design, ~80% of the requirements needed for the Building and Construction Permit have been completed.

Variscan Mines (ASX:VAR)’s shares are through the roof today as it sets an AGM date and investors mull over a $2m entitlement offer it received underwritten support from major shareholder Zinc GroupCo. Funds will be used to accelerate exploration and drilling programs and development studies at the high grade zinc Novales-Udias project in Cantabria, northern Spain.

THURSDAY’S  ASX SMALL CAP LAGGARDS

The worst-performing small cap stocks:

Code	Name	Price	% Change	Volume	Market Cap
INP	Incentia Pay Ltd	0.003	-40%	60,988	$6,219,650
TMK	TMK Energy Limited	0.002	-33%	13,262,642	$20,764,836
IMI	Infinitymining	0.031	-28%	401,858	$5,836,998
ALR	Altairminerals	0.003	-25%	12,539,702	$17,186,310
ATH	Alterity Therap Ltd	0.003	-25%	10,832,351	$21,281,344
PAB	Patrys Limited	0.003	-25%	2,372,969	$8,229,789
RFT	Rectifier Technolog	0.007	-22%	606,831	$12,437,856
UCM	Uscom Limited	0.011	-21%	25,101	$3,506,678
XGL	Xamble Group Limited	0.022	-21%	505,040	$8,292,399
EVR	Ev Resources Ltd	0.004	-20%	20,420	$6,981,357
OVT	Ovanti Limited	0.004	-20%	9,979,043	$7,781,742
PUR	Pursuit Minerals	0.002	-20%	24,742	$9,088,500
RIL	Redivium Limited	0.004	-20%	240,788	$13,734,274
THR	Thor Energy PLC	0.013	-19%	35,000	$3,700,372
AOA	Ausmon Resorces	0.003	-17%	490,655	$3,176,998
JAV	Javelin Minerals Ltd	0.003	-17%	1,320,000	$12,830,539
PRM	Prominence Energy	0.005	-17%	16,667	$2,335,058
TON	Triton Min Ltd	0.010	-17%	127,109	$18,820,665
WML	Woomera Mining Ltd	0.003	-17%	587,673	$6,165,223
GRE	Greentechmetals	0.105	-16%	145,811	$10,384,997
IRX	Inhalerx Limited	0.028	-15%	45,000	$6,262,310
1AI	Algorae Pharma	0.006	-14%	1,007,385	$11,811,763

TRADING HALTS

Immuron (ASX:IMC) – To analyse CampETEC Hyperimmune Bovine Colostrum clinical trial data

Adslot (ASX:ADS) – Cap raise

Battery Age Minerals (ASX:BM8) – Cap raise

AusQuest (ASX:AQD) – Cap raise

Arika Resources (ASX:ARI) - Cap raise

At Stockhead, we tell it like it is, while Golden Miles Resources, Island Pharmaceuticals and Chariot Corporation are Stockhead advertisers, they did not sponsor this article.

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

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