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 31 October, 2023

Happy Halloween! Trick or treat?
Let’s hope the small caps provide a treat today..


Across markets

Australian shares are poised to open higher to start the day. Shares were higher in New York, bolstered by a rebound in megacap techs. The Dow surged 511 points, 28 of its 30 components advanced, paced by Nike, Goldman Sachs and Verizon.
Tesla tumbled more than 5 per cent at one point, with sentiment hurt by concerns about its margin outlook and what appears to be the end of strikes by union workers at America’s big three domestic automakers.
Key data on Tuesday’s agenda: China manufacturing and services data. Bank of Japan policy meeting decision.

Oil has dropped back, putting a $US100 a barrel target seemingly unreachable for the moment amid rising international pressure on Israel to rethink its bombing of Gaza.

US oil fell as much as 4.3 per cent, with losses accelerating after crude slipped below technical support levels near $US82 a barrel.


Market highlights

ASX futures up 29 points or 0.4% to 6810 near 7am AEDT

  • AUD +0.6% to 63.75 US cents
  • Bitcoin -0.6% to $US34,351 at 7.24am AEDT
  • On Wall St: Dow +1.6% S&P +1.2% Nasdaq +1.2%
  • In New York: BHP +0.6% Rio +0.7% Atlassian +0.9%
  • Tesla -4.8% Apple +1.2% Amazon +3.9% Microsoft +2.3%
  • VIX -7.7% QQQ +1.1% TLT -0.5%
  • Stoxx 50 +0.4% FTSE +0.2% DAX +0.2% CAC +0.4%
  • Spot gold -0.6% to $US1994.92/oz at 1.26pm in New York
  • Brent crude -3.3% to $US87.48 a barrel
  • Iron ore +1.8% to $US121.80 a tonne
  • 10-year yield: US 4.89% Australia 4.87% Germany 2.82%
  • US prices as of 4.18pm in New York

 

Source: AFR

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Closer to Home
  • The TSX has been a dire place to be a miner in 2023, with almost two-thirds of our tracked TSX & TSX-V stocks being losers over the past 12 months
  • Only 318 of 1123 on our TSX watchlist are in the green since November last year
  • We check out four explorers up 600% or more in the past year


The TSX and TSX-V exchange is home to more mining companies and explorers in the world, with the exchange itself marketing that around 40% of the world’s mining companies are listed across the bourses.

It dwarfs the ASX, where there is far less capital and only one single exchange, and trumps the tech, finance and conglomerates that dominate the New York and London markets.

Yet complaints have grown from explorers in recent years that it’s harder to raise cash and make a buck in Canada, where stoned bankers are throwing their green into high-flying pot stocks before they sink a cent into a gold explorer.

Some of Canada’s established explorers are even making a run for Australia, where fundies and investors are either more knowledgable about mining or more tolerant of bulls**t.

READ: Canada Unearthed: The Canadians are Coming, the Canadians are Coming

Of 1123 number of companies in our TSX/TSX-V watchlist some 318 have recorded 12-month gains. That’s 28.3%.

Another 65 are unchanged, give or take a couple who have been acquired or listed for less than a year. Including those, it’s 5.8%.

A whopping 740 are 12 month losers. 65.9%.

Pick a random grab bag of Toronto-listed miners and you’re almost two-thirds likely to pick a loser, an outcome so bad you’ll wish you were on cannabis.

(But not in cannabis stocks. The Canadian Cannabis LP Index is down 38% in the past year and declining investor interest prompted S&P to junk its index with little commentary earlier this year.)

Granted the ASX has had plenty of losers as well. And like the Aussie market, Canada has also delivered its share of multi-baggers.

Source:Stockhead


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Recent Peak Deals

Company: Alderan Resources (ASX:AL8)
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.012 Unchanged

Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.13 -7.14%

Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.12 -14.29%

Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.006 Unchanged

Company: Unith Ltd. (ASX:UNT)
Sector: AI/ChatGPT
Deal Type: Placement
Raise Amount: $4.5M
Latest Entry Price: $0.033 with a 1:1 UNTO
Today’s Price Change: $0.021 +5.00%

Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.011
Today’s Price Change: $0.007 Unchanged

Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.02 with a 2:3 CDTOA
Today’s Price Change: $0.010 -16.67%

Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 AEVO
Today’s Price Change: $0.013 Unchanged

Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.10 with a 1:4 LMGO
Today’s Price Change: $0.044 +2.33%

Company: Askari Metals Ltd (ASX:AS2)
Sector: Mining
Deal Type: IPO
Raise Amount: $5.7M
Latest Entry Price: $0.35 with a 1:3 AS2O
Today’s Price Change: $0.155 -8.82%

Company: iCandy (ASX:ICI)
Sector: Gaming & Digital Advertising
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.02 with a 1:1 ICIOB
Today’s Price Change: $0.035 Unchanged

Company: Fatfish Group (ASX:FFG)
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.01 -9.09%

Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.62 Unchanged

Company: ReNu Energy Limited (ASX:RNE)
Sector: Energy
Deal Type: Placement
Raise Amount: $1.46M
Latest Entry Price: $0.06 with a 1:1 RNEO
Today’s Price Change: $0.025 -3.69%

Company: Carly Holdings Ltd (ASX:CL8)
Sector: AI and Car subscription
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.025 with a 1:2 CL8O
Today’s Price Change: $0.015 Unchanged

Company: Avecho Biotechnology (ASX:AVE)
Sector: CBD
Deal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.004 Unchanged

Company: ECS Botanics Holdings Ltd (ASX:ECS)
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.023 Unchanged

If you would like more information on future Peak deals, please don’t hesitate to get in touch.

The trustee for Peak Asset Management Unit Trust (“Peak”) is a corporate authorised representative (#1295491) of Dayton Way Securities Pty Ltd (AFSL #382585).
Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs.  Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances.  If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au  or by telephoning
Peak on 1300 304 460

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