Lunch Wrap: ASX creeps up as Bitcoin soars, uranium stocks blast off
ASX edges up on Friday morning
Bitcoin hits $111K as crypto gets cosy with Washington

ASX uranium stocks go nuclear on Trump's energy play

The ASX managed a modest rise of 0.30% by lunch time AEST Friday.
Wall Street set the tone with a seesaw session that ended more or less flat.
The headline overnight was the 10-year US Treasury yield, which dropped 7 basis points to 4.53%. That gave traders a moment to breathe after a hectic week of sell-offs over runaway US deficits.
Meanwhile, Bitcoin is blowing the roof off, smashing through $110,000 for the first time ever and hitting $111,240 at this time of writing.
A couple of things have been fuelling cryptos.
First, a US Senate vote this week moved forward the so-called GENIUS Act, an industry-backed bill that could finally give crypto some clear rules.
Second, when faith in the US dollar wobbles, as it is now, some investors start hunting for safe-haven alternatives, and Bitcoin's looking like the new gold for a few more people.
Back home, the big boom this morning came from uranium stocks, which are absolutely lighting up the ASX board.
Word is that Trump's about to sign executive orders to give America's nuclear sector a big adrenaline shot.
According to sources, these orders would declare a national emergency, and unleash the Cold War-era Defence Production Act.
This would send both the Department of Energy and Defence off to scout for nuclear-ready land and fast-track approvals for next-gen reactors.
Paladin Energy (ASX:PDN) rocketed 8% on the news, Boss Energy (ASX:BOE) surged over 12%, and Deep Yellow (ASX:DYL) blasted up 8.3%.
In large caps new, Rio Tinto (ASX:RIO) announced that its CEO Jakob Stausholm is stepping down later this year.
After steering the company through a turbulent few years, Stausholm will only hang around until Rio finds a replacement. Chairman Dominic Barton says Rio's strategy will stay the same, it's just time for new hands on the wheel.
Rio's shares were down 1%.
And, engineering company Duratec (ASX:DUR) got smashed 5.5% after trimming its full-year revenue forecast, blaming slow project awards and bad weather.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for May 23 :
Security Description Last % Volume MktCap
RPG Raptis Group Limited 0.025 79% 400,000 $2,454,864
BMO Bastion Minerals 0.002 50% 1,795,015 $903,628
LNR Lanthanein Resources 0.002 50% 400,000 $2,443,636
MOM Moab Minerals Ltd 0.002 50% 1,042,927 $1,733,666
LKY Locksley Resources 0.045 36% 8,175,905 $4,840,000
CTO Citigold Corp Ltd 0.004 33% 261,227 $9,000,000
ASR Asra Minerals Ltd 0.003 25% 272,810 $5,533,072
BPP Babylon Pump & Power 0.005 25% 8,000,000 $11,082,268
CAV Carnavale Resources 0.005 25% 16,666 $16,360,874
EVR Ev Resources Ltd 0.005 25% 500,000 $7,943,347
DUB Dubber Corp Ltd 0.018 20% 14,439,119 $39,350,512
REC Rechargemetals 0.018 20% 710,033 $3,854,850
G50 G50Corp Ltd 0.120 20% 546,576 $16,059,766
CCO The Calmer Co Int 0.003 20% 1,351,982 $7,528,289
FBR FBR Ltd 0.006 20% 4,006,930 $28,447,261
AKN Auking Mining Ltd 0.007 17% 100,000 $3,448,673
DTI DTI Group Ltd 0.007 17% 1,300,000 $2,691,308
GLL Galilee Energy Ltd 0.007 17% 100,000 $4,243,157
TYX Tyranna Res Ltd 0.004 17% 324,000 $9,865,276
TMG Trigg Minerals Ltd 0.063 17% 28,814,795 $49,888,974
MVL Marvel Gold Limited 0.016 14% 1,459,235 $15,116,337
AWJ Auric Mining 0.215 13% 62,759 $28,301,140
SLA Solara Minerals 0.130 13% 56,884 $6,668,255
MGU Magnum Mining & Exp 0.009 13% 151,091 $8,973,207
Locksley Resources (ASX:LKY) is sending its exploration team to the Mojave Project in California this June, ahead of expected drill permit approvals. It's prepping for a September quarter drill campaign targeting rare earths and antimony, with up to 12.1% TREO and 46% Sb reported at key sites. The project sits near MP Materials' Mountain Pass Mine and includes the historically high-grade Desert Antimony Mine.
Auric Mining (ASX:AWJ) has locked in $6.66 million through a strongly backed share placement at 18 cents a pop, bringing in new funds and fresh support from existing holders. The cash injection gives it the firepower to wrap up its Burbanks Gold Facility deal, and finalise the Lindsay's Project, home to the Parrot Feathers Gold Mine. With gold prices flying near record highs, Auric reckons the timing's perfect to ramp up production.
ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks for May 23 :
Code Name Price % Change Volume Market Cap
FTC Fintech Chain Ltd 0.002 -67% 2,789,514 $3,904,618
ALR Altairminerals 0.002 -33% 1,756,764 $12,890,233
VML Vital Metals Limited 0.002 -33% 21,725,645 $17,685,201
GMN Gold Mountain Ltd 0.002 -25% 310,989 $10,267,776
OVT Ovanti Limited 0.003 -25% 378,539 $11,174,060
OCN Oceanalithiumlimited 0.054 -21% 249,122 $9,349,754
CHM Chimeric Therapeutic 0.004 -20% 5,507,697 $9,253,431
VRC Volt Resources Ltd 0.004 -20% 130,675 $23,423,890
APC APC Minerals 0.009 -18% 17,205 $3,222,267
FDR Finder 0.041 -18% 2,088 $14,214,416
IG6 Internationalgraphit 0.047 -18% 282,890 $11,032,825
ANR Anatara Ls Ltd 0.005 -17% 510,625 $1,280,302
BUY Bounty Oil & Gas NL 0.003 -17% 502,755 $4,684,416
TRI Trivarx Ltd 0.010 -17% 4,748,466 $7,408,730
RAU Resouro Strategic 0.170 -15% 25,780 $8,357,564
CRR Critical Resources 0.003 -14% 63,000 $9,149,774
DTM Dart Mining NL 0.003 -14% 100,000 $4,193,195
GCM Green Critical Min 0.012 -14% 2,142,221 $27,484,496
OLI Oliver'S Real Food 0.006 -14% 1,663 $3,785,123
PV1 Provaris Energy Ltd 0.010 -14% 770,153 $7,678,014
NPM Newpeak Metals 0.013 -13% 539,357 $4,831,076
ICR Intelicare Holdings 0.007 -13% 834,607 $3,889,505
RMX Red Mount Min Ltd 0.007 -13% 221,816 $3,719,662
SER Strategic Energy 0.007 -13% 129,502 $5,368,267
IN CASE YOU MISSED IT
West Coast Silver (ASX:WCE) is gearing up for a diamond drilling program at the Elizabeth Hill project in WA. The company is targeting down-plunge extensions to silver mineralisation, focusing on high-grade zones.
At Stockhead, we tell it like it is. While West Coast Silver is a Stockhead advertiser, they did not sponsor this article.
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