Closing Bell: Uranium surges on tariff exemption whispers; ASX rides energy wave higher
ASX uranium stocks have soared after the US administration flagged U3O8 would be included in tariff exemption list
Energy sector up more than 2pc, with Small Ords index close behind
Utilities, Info Tech, Resources, Real Estate sectors all up more than 1pc
Assurances from the US administration that uranium will be included in an upcoming list of tariff exemptions has given stocks dealing in the yellowcake mineral a welcome boost.
Small cap Boss Energy (ASX:BOE) is one of the best performing stocks on the ASX today, lifting 13.75% to $3.185 a share. The uranium producer's core focus is the Honeymoon uranium project in South Australia, where it expects to produce 850k pounds of uranium in the 2025 financial year.
Micro caps Connected Minerals (ASX:CML) and Energy Resources of Australia (ASX:ERA) outperformed even Boss in terms of percentage gain (up 45% and 33.33% respectively), also enjoying attention from the uranium bulls.
Boss and ERA are joined by Bannerman Energy (ASX:BMN) up 12.86%, Lotus Resources (ASX:LOT) up 15.15%, Deep Yellow (ASX:DYL) up 12.44%, and Paladin Energy (ASX:PDN) with a 9.2% gain.
It's difficult to judge the effect on uranium's pricing, however, as its not traded openly on the market like other commodities, but rather directly between producers and end users in private long-term contracts.
The effect on the wider Aussie market, on the other hand, was obvious. The ASX has gained almost a full percentage point today, lifting 0.92%.
The ASX Small Ords Index is up more than 2%, and the ASX 200 Resources close behind with a more than 1.5% lift.
The optimism appears to have carried over into the rest of the market, with 10 of 11 sectors in the green, although Consumer Staples (-0.03%) held the class back.
Behind Energy, the Utilities and Info Tech sectors also enjoyed sizable gains, lifting 2.29% and 1.45% each.
Standouts included Origin Energy (ASX:ORG) up 3.15% and AGL Energy (ASX:AGL) with a 2.09% boost.
There was a 1.17% uptick for Wisetech (ASX:WTC), 1.05% for Xero (ASX:XRO), 1.45% for Technology One (ASX:TNE) and NextDC (ASX:NXT) rounded out the tech big caps with a 2.19% gain.
All to say, the ASX is on a bit of a tear at the moment, hovering around two-month highs after posting its fourth straight day of gains.
Of course, the bourse is still down 1.08% for the year to date, and the trade war that caused all the chaos is far from over, but for now things are looking up.
Speaking of which, here are today's small cap movers and shakers on the Aussie market.
ASX SMALL CAP LEADERS
Today's best performing small cap stocks:
Security Description Last % Volume MktCap
DY6 Dy6Metalsltd 0.165 293% 5842597 $2,117,255
88E 88 Energy Ltd 0.002 100% 9133331 $28,933,812
MMR Mec Resources 0.005 67% 1080000 $5,549,298
EEL Enrg Elements Ltd 0.0015 50% 2598009 $3,253,779
RAN Range International 0.003 50% 270606 $1,878,581
CML Connected Minerals 0.16 45% 189271 $4,549,403
ICR Intelicare Holdings 0.01 43% 16556666 $3,403,317
PHL Propell Holdings Ltd 0.01 43% 844830 $1,948,367
ADN Andromeda Metals Ltd 0.014 40% 35683888 $34,287,277
EAT Entertainment 0.007 40% 274684 $6,543,930
NYM Narryermetalslimited 0.042 35% 2813 $5,457,699
1TT Thrive Tribe Tech 0.002 33% 4505606 $3,047,585
ADD Adavale Resource Ltd 0.002 33% 1061407 $3,430,919
PRM Prominence Energy 0.004 33% 1132 $1,167,529
QXR Qx Resources Limited 0.004 33% 50200 $3,930,987
SIS Simble Solutions 0.004 33% 429710 $2,628,991
EL8 Elevate Uranium Ltd 0.29 32% 3345655 $84,835,479
MVP Medical Developments 0.61 31% 1485471 $52,386,121
PNT Panthermetalsltd 0.017 31% 21681035 $3,911,759
DTR Dateline Resources 0.009 29% 43908802 $19,358,980
WYX Western Yilgarn NL 0.034 26% 3215 $3,714,149
HMY Harmoney Corp Ltd 0.635 26% 91637 $51,491,894
UVA Uvrelimited 0.094 25% 1305 $4,515,000
RRR Revolverresources 0.035 25% 162884 $7,735,679
ASR Asra Minerals Ltd 0.0025 25% 21606559 $4,746,254
Making news…
DY6 Metals (ASX:DY6) surged almost 300% after striking something special at Tundulu in southern Malawi, near the border with Mozambique. A fresh look at old drill data has uncovered high-grade gallium right from surface, with some hits showing eye-popping grades over long stretches. One standout drill hole pulled 74 metres at over 93 g/t gallium, including a spike at 310 g/t. DY6 said less than half the area has been drilled, and the gallium keeps going deeper, hinting there's plenty more below.
Gallium is hot property right now thanks to demand in electronics and semiconductors, and most of the global supply is stitched up by China. DY6's still running tests, but early signs point to a potentially serious play, and the market will be watching closely when results land in the coming weeks.
Joining in on the uranium bull run, Connected Minerals (ASX:CML) jumped 45% on release of its quarterly report, which included some promising uranium exploration results within the company's Namibian assets. Trench sampling at the Etango North-East prospect generated results of up to 46m at 506 ppm uranium, with grades peaking at 1m at 5,413 ppm U3O8.
InteliCare (ASX:ICR) is teaming up with Mecwacare to trial its smart care tech at the Trescowthick Centre in Prahran, Victoria. Mecwacare is a major aged care player in Victoria, and InteliCare's AI-powered platform is part of its push to become a tech-savvy leader in aged and disability care. The trial will run for three months once the system's fully set up, and if it goes well, Mecwacare could look to expand it across all 22 of its aged care homes. The deal's worth $212k for now.
ASX SMALL CAP LAGGARDS
Today's worse performing small cap stocks:
Code Name Price % Change Volume Market Cap
HCF H&G High Conviction 0.055 -84% 427504 $6,792,267
SMX Strata Minerals 0.017 -43% 12258716 $7,324,455
IVT Inventis Limited 0.016 -33% 51875 $1,834,185
PAB Patrys Limited 0.002 -33% 4061410 $6,172,342
REY REY Resources Ltd 0.027 -29% 12682 $8,039,314
TON Triton Min Ltd 0.005 -29% 25388 $10,978,721
AKN Auking Mining Ltd 0.006 -25% 1411746 $4,598,230
AUK Aumake Limited 0.003 -25% 166666 $12,042,769
SFG Seafarms Group Ltd 0.0015 -25% 254852 $9,673,198
3PL 3P Learning Ltd 0.6 -21% 14325 $207,408,957
ALM Alma Metals Ltd 0.004 -20% 503110 $7,931,727
AVE Avecho Biotech Ltd 0.004 -20% 1730579 $15,867,318
BYH Bryah Resources Ltd 0.004 -20% 2810980 $4,349,768
MEG Megado Minerals Ltd 0.008 -20% 835592 $4,196,833
RLL Rapid Lithium Ltd 0.002 -20% 46640 $3,112,362
PUA Peak Minerals Ltd 0.009 -18% 14258456 $30,880,534
PNN Power Minerals Ltd 0.059 -18% 2175314 $8,197,551
EMN Euromanganese 0.205 -18% 45937 $10,247,906
PGH Pact Group Hldgs Ltd 0.9 -18% 210275 $376,997,608
MNC Merino and Co 0.12 -17% 170932 $7,696,103
1AI Algorae Pharma 0.005 -17% 2150156 $10,124,368
AZL Arizona Lithium Ltd 0.005 -17% 4252772 $27,370,887
BLZ Blaze Minerals Ltd 0.0025 -17% 2405674 $4,700,843
TMX Terrain Minerals 0.0025 -17% 385342 $6,010,670
BTE Botalaenergyltd 0.055 -17% 20000 $16,510,297
IN CASE YOU MISSED IT
A listing to the OTCQB has unlocked access to US investors and global market traders for White Cliff Minerals (ASX:WCN), which has been approved to trade under the ticker WCMLF as of yesterday. The company says the listing will enhance accessibility for US investors, and increase liquidity and market visibility.
Anson Resources (ASX:ASN) is preparing to re-enter the Mt Fuel-Skyline Geyser 1-25 well after submitting a proposal to the local authorities, with plans to use the results from the Bosydaba#1 well to prove-up a JORC mineral resource at the Green River project.
Following-up on broad intersections of gold including 35.76m at 2.14 g/t gold from 14.27m of depth, Arika Resources (ASX:ARI) is set to begin a 6,000m RC drilling program to test extensions and investigate new prospects at the Yundamindra gold project in WA.
Trading Halts
Dimerix (ASX:DXB) - licensing agreement
Orthocell (ASX:OCC) - new regulatory approval for Remplir
Southern Cross Gold (ASX:SXG) - cap raise
Kalamazoo Resources (ASX:KZR) - cap raise
Alice Queen (ASX:AQX) - cap raise
Nanoveu (ASX:NVU) - cap raise
Blinklab (ASX:BB1) – cap raise
Sparc Technologies (ASX:SPN) - cap raise
BluGlass (ASX:BLG) - cap raise
Kore Potash (ASX:KP2) - financing proposal
DY6 Metals (ASX:DY6) - clarification to an announcement
At Stockhead, we tell it like it is. While White Cliff Minerals, Anson Resources and Arika Resources are Stockhead advertisers, they did not sponsor this article.
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