Lithium gloom and Lacaze fills the room: The light and shade from Macquarie's corporate conclave
Lithium gloom and Lacaze fills the room: The light and shade from Macquarie's corporate conclave
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ASX shrugs off tariff pessimism to climb 0.59pc Gains led by gold and banking stocks Major banks join RBA stablecoin project Gold and Banks lead ASX charge Let's see – a 50% tariff on copper, up to 200% on pharmaceuticals, and maybe more to come for semiconductors and aluminium. Just a few weeks ago, those kinds of threats from the President of the United States would have shaken markets to their core, threatening runs on bond markets and driving gold higher. These days, we're all a bit numb to it all. The ASX 200 shot up 0.59% in trade today, closing out a defiant session with 7 of 11 sectors on the up. The materials sector – and especially gold stocks – led the charge, up 1.25% with some heavy support from industrials, real estate and banking stocks. The seven major bankers added 0.81% to their index, a solid performance that was eclipsed by Aussie gold miners surging 2.27%. 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'Ensuring that Australia's payments and monetary arrangements are fit-for-purpose in the digital age is a strategic priority for the RBA and the Payments System Board,' RBA assistant governor Brad Jones said. 'The use cases selected in this project will help us to better understand how innovations in central bank and private digital money, alongside payments infrastructure, might help to uplift the functioning of wholesale financial markets in Australia." ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap YRL Yandal Resources 0.17 87% 967080 $28,140,383 IBX Imagion Biosys Ltd 0.019 52% 1.8E+08 $2,516,768 MOM Moab Minerals Ltd 0.0015 50% 1000000 $1,733,666 OB1 Orbminco Limited 0.0015 50% 500050 $3,402,568 PAB Patrys Limited 0.0015 50% 563709 $2,365,810 SFG Seafarms Group Ltd 0.0015 50% 323496 $4,836,599 LKO Lakes Blue Energy 1.3 44% 575287 $60,087,935 PRS Prospech Limited 0.021 31% 695559 $6,061,214 DY6 Dy6Metalsltd 0.3 30% 7456062 $17,126,375 CC9 Chariot Corporation 0.07 27% 594878 $6,564,457 CCA Change Financial Ltd 0.088 26% 3894658 $48,079,711 MKL Mighty Kingdom Ltd 0.025 25% 1229250 $14,668,746 BUY Bounty Oil & Gas NL 0.0025 25% 450000 $3,122,944 JAY Jayride Group 0.0025 25% 1729847 $2,855,778 MEM Memphasys Ltd 0.005 25% 401240 $7,934,392 MTB Mount Burgess Mining 0.005 25% 1337560 $1,702,553 PKO Peako Limited 0.0025 25% 15333 $2,975,484 VFX Visionflex Group Ltd 0.0025 25% 198851 $6,735,721 SUM Summitminerals 0.056 24% 598590 $3,985,924 APC APC Minerals 0.011 22% 2097313 $2,636,400 EVR Ev Resources Ltd 0.011 22% 11241402 $20,047,530 EXL Elixinol Wellness 0.017 21% 345559 $3,222,680 AAU Antilles Gold Ltd 0.006 20% 422962 $11,895,340 BLU Blue Energy Limited 0.006 20% 132000 $9,254,868 CHM Chimeric Therapeutic 0.006 20% 4015263 $10,075,971 Making news... Yandal Resources (ASX:YRL) has unearthed a spicy 800-metre-long gold strike at the Arrakis prospect, part of the Caladan target and the greater Ironstone Well-Barwidgee gold project. Three holes drilled about 400m apart all hit gold mineralisation with similar characteristics, suggesting it may be one long gold system ripe for the plucking. YRL is currently drill testing the entire 3-kilometre-long Arrakis prospect, with more results due over the coming weeks and months. The news spice must flow, and all that. Imagion Biosystems (ASX:IBX) is a step closer to beginning formal clinical development for its MagSense HER2 breast cancer imaging technology, after a fruitful tête-à-tête with the US FDA. IBX now has a clear path to submit its investigational new drug application for the proprietary imaging agent, a key step in beginning human clinical trials. Moab Minerals (ASX:MOM) is set to raise $141k in a share placement directly with European Lithium (ASX:EUR), on top of a $500k cash loan from EUR. The money – raised at 0.1 cents a share – will go to exploration at the Manyoni uranium project in Tanzania, and toward assessing and acquiring new resource project opportunities. DY6 Metals (ASX:DY6) has extended a reconnaissance drilling program at the Central rutile project in Tanzania, after neighbouring miner Peak Minerals (ASX:PUA) hit high-grade heavy mineral results of 7m at 5.1% HM right next door. Management reckons the mineralisation extends into two of DY6's own tenements, which the company will be hitting with 24 more auger holes than originally planned in a bid to unearth it. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap IS3 I Synergy Group Ltd 0.001 -50% 2291854 $3,207,679 WEL Winchester Energy 0.001 -50% 100000 $2,726,038 AYM Australia United Min 0.002 -33% 980000 $5,527,732 PIL Peppermint Inv Ltd 0.002 -33% 2855294 $6,903,269 AM7 Arcadia Minerals 0.018 -28% 17000 $2,934,586 AOA Ausmon Resorces 0.0015 -25% 143271 $2,622,427 BMO Bastion Minerals 0.0015 -25% 10200000 $2,635,636 RMI Resource Mining Corp 0.014 -22% 2734417 $13,220,160 BIT Biotron Limited 0.002 -20% 155989 $3,318,115 RLG Roolife Group Ltd 0.004 -20% 40000 $7,963,906 ADD Adavale Resource Ltd 0.025 -19% 1175849 $3,545,269 PFE Pantera Lithium 0.0195 -19% 24932267 $11,370,809 VML Vital Metals Limited 0.09 -18% 255277 $12,968,919 ADR Adherium Ltd 0.005 -17% 140090 $8,321,749 ECT Env Clean Tech Ltd. 0.0025 -17% 12361 $12,046,306 PRM Prominence Energy 0.0025 -17% 195000 $1,459,411 RCM Rapid Critical 0.0025 -17% 2350000 $4,247,334 SHE Stonehorse Energy Lt 0.005 -17% 400000 $4,106,610 TEM Tempest Minerals 0.005 -17% 392454 $6,610,770 TSL Titanium Sands Ltd 0.005 -17% 408016 $14,068,483 CPO Culpeominerals 0.012 -14% 10079972 $3,800,339 GTR Gti Energy Ltd 0.003 -14% 2838000 $10,496,324 LU7 Lithium Universe Ltd 0.006 -14% 1195485 $6,551,857 OLY Olympio Metals Ltd 0.12 -14% 447575 $14,429,422 RNX Renegade Exploration 0.003 -14% 2000000 $4,509,272 IN CASE YOU MISSED IT Ausgold (ASX:AUC) is accelerating along a path to a final investment decision on its 3Moz Katanning gold project in WA after raising $35 million in a placement to sophisticated and professional investors. Buxton Resources (ASX:BUX) welcomes news that anode manufacturer BTR has qualified ore from its Graphite Bull project in WA, marking it compatible to customer requirements. Power Minerals (ASX:PNN) has hit strong niobium and rare earths mineralisation in the first drill hole at the Santa Ann project in Brazil. Belararox (ASX:BRX) is making its biggest strides yet in Botswana's exciting Kalahari copper belt, lining up four priority targets for drilling in August this year. Brightstar Resources (ASX:BTR) is drilling the Yunndaga deposit to support a fast-tracked development strategy for its Menzies gold hub. In a boost to its exploration efforts, Elevate Uranium (ASX:EL8) has received a $112,000 grant from the NT government to co-fund drilling at the Angela project. Miramar Resources (ASX:M2R) is powering ahead with drilling at the 8 Mile target, part of the Gidji JV project right next door to Northern Star's (ASX:NST) Kalgoorlie operations. Renascor Resources (ASX:RNU) has inked a three-year with a local farming operator to secure an accommodation site for the Siviour graphite mine in South Australia. Break it Down: Orthocell (ASX:OCC) have received first US revenue from Remplir after gaining FDA approval for the device in April. TRADING HALTS At Stockhead, we tell it like it is. While Imagion Biosystems, European Lithium and DY6 Metals are Stockhead advertisers, they did not sponsor this article.
