- Trump postpones EU tariffs, markets exhale
- WiseTech surges 5% following $3.25 billion takeover announcement
- Uranium shares soar once more due to US nuclear initiative
On Monday, the ASX struggled to make up its mind about which direction to head in, oscillating throughout the morning before finally settling with a slight dip of 0.05% come midday AEST.
Investors observed as Donald Trump wielded the tariff hammer aggressively before discreetly setting it aside.
On Friday, Trump announced his intention to impose 50% tariffs on all EU imports by June 1st, but subsequently pushed back the deadline to July 9 within the past several hours following what he described as a “cordial conversation” with European Union Commission President, Ursula von der Leyen.
This was sufficient to boost Wall Street futures earlier today, with Nasdaq and S&P 500 contracts rising approximately 1%.
Gold paused for breath following the new development, with the yellow metal weakening and trading around $US3,346 an ounce as we publish this report.
However, Trump’s tariff outbursts haven’t disappeared; they’re merely taking a break.
On Friday, he spooked financial markets by threatening Apple with a 25% tax on non-US manufactured iPhones, which dragged down technology stocks and cast a gloomy mood over Wall Street as they headed into the Memorial Day extended weekend.
Upon returning to Australia, the approach was one of watchful waiting, as most major stocks remained within narrow trading bands.
Except for
WiseTech Global (ASX:WTC)
.
The prominent logistics software company experienced a more than 6% increase following the announcement of its largest acquisition to date, spending $3.25 billion to purchase Texas-based e2open. The firm stated that this move brings WiseTech closer to becoming the “operating system” for worldwide commerce.
As technology showed strength reminiscent of WTC’s performance, uranium stocks once more gleamed brightly as they had done on Friday.
Trump recently signed a series of executive orders on Friday intended to boost America’s nuclear industry, and Australian entities experienced positive effects as a result.
Boss Energy (ASX:BOE)
soared an additional 10.5% this morning, while
Deep Yellow (ASX:DYL)
and
Paladin Energy (ASX:PDN)
increased by over 13%
Meanwhile,
Origin Energy (ASX:ORG)
pulled down the utilities sector, declining by 4% following an announcement to investors indicating that they now anticipate earnings from their UK-based entity, Octopus Energy, will turn unprofitable, potentially resulting in losses of up to $100 million.
In other significant developments among large market capitalization companies, an agricultural business
Elders (ASX:ELD)
experienced a 6% decrease even though it announced its semi-annual earnings had almost doubled to around $50 million.
Higher livestock prices, improved optimism, and larger profit margins contributed positively; however, fierce competition along with arid conditions in the retail sector seemed to unsettle certain investors.
And,
Genesis Minerals (ASX:GMD)
rose 2.5% after securing a $250 million agreement to acquire Western Australia’s Laverton Gold Project.
Focus Minerals (ASX:FML)
, which quickly surged by 107% (refer to details below).
Genesis states that the agreement offers significant synergies, as the resources are slated to supply its adjacent Laverton plant. To finance this acquisition, Genesis plans to use a combination of cash and increased funding.
ASX SMALL CAP WINNERS
Below are the top-performing ASX small-cap stocks as of May 26 [during trading sessions]:
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| FML | Focus Minerals Ltd | 0.460 | 100% | 5,937,001 | $65,908,488 |
| LNR | Lanthanein Resources | 0.002 | 100% | 500,000 | $2,443,636 |
| ERA | Energy Resources | 0.003 | 50% | 3,497,471 | $810,792,482 |
| FTC | Fintech Chain Ltd | 0.003 | 50% | 452,029 | $1,301,539 |
| OB1 | Orbminco Limited | 0.002 | 50% | 31,288,136 | $2,397,568 |
| VML | Vital Metals Limited | 0.003 | 50% | 3,834,200 | $11,790,134 |
| GMN | Gold Mountain Ltd | 0.002 | 33% | 251,374 | $7,700,832 |
| MOM | Moab Minerals Ltd | 0.002 | 33% | 250,000 | $2,600,499 |
| TKL | Traka Resources | 0.002 | 33% | 501,227 | $3,188,685 |
| PLN | Pioneer Lithium | 0.120 | 32% | 491,140 | $3,873,113 |
| REZ | Resources & Energy Group Ltd | 0.017 | 31% | 500,000 | $8,731,309 |
| RMX | Red Mount Min Ltd | 0.009 | 29% | 4,779,756 | $3,254,705 |
| W2V | Way2Vatltd | 0.009 | 29% | 50,280,933 | $9,890,007 |
| AOK | Australian Oil. | 0.003 | 25% | 8,591,665 | $2,003,566 |
| AVE | Avecho Biotech Ltd | 0.005 | 25% | 2,651,126 | $12,693,855 |
| BYH | Bryah Resources Ltd | 0.005 | 25% | 4,443,625 | $3,479,814 |
| GTR | Gti Energy Ltd | 0.005 | 25% | 15,557,772 | $11,995,799 |
| HLX | Helix Resources | 0.003 | 25% | 700,000 | $6,728,387 |
| PKO | Peako Limited | 0.003 | 25% | 15,666 | $2,975,484 |
| VRL | Verity Resources | 0.030 | 23% | 9,663,649 | $6,634,243 |
| NNL | Nordicresourcesltd | 0.072 | 22% | 647,657 | $10,662,314 |
| CDEDC | Codeifai Limited | 0.006 | 20% | 250,000 | $1,585,157 |
| CR9 | Corellares | 0.003 | 20% | 334,672 | $2,514,016 |
| NES | Nelson Resources. | 0.003 | 20% | 2,500,000 | $5,429,819 |
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As previously stated, Shandong Gold supported
Focus Minerals (ASX:FML)
has secured a $250 million agreement to offload its Laverton Gold Project to
Genesis Minerals (ASX:GMD)
The transaction is anticipated to conclude around early June. This agreement involves straightforward monetary compensation without any stipulations. According to Focus, this is a prudent strategy to capitalize on current elevated gold prices. Consequently, the financial inflow will strengthen their fiscal position as they redirect attention towards advancing development of the Bonnie Vale underground project and intensifying operations at Coolgardie.
Lanthanein Resources (ASX:LNR)
has terminated its farm-in deal with Gondwana Resources for the Lady Grey Lithium Project. Under this agreement, they could have secured up to 70% ownership of the project, but they have decided to refocus their efforts on more suitable ventures aligned with their strategy.
Red Mountain Mining (ASX:RMX)
Has verified several stibnite veins crucial for antimony at its Armidale Project located in New South Wales, extending over more than 1 kilometer along the Oaky Creek North. Additionally, substantial mineralization was discovered at Oaky Creek South, indicating a larger system divided by the Namoi Fault. Given that antimony prices have risen above $60,000 per tonne and worldwide supplies are becoming scarce, RMX anticipates favorable conditions due to their timely involvement and strategic location.
Fintech firm
Way2VAT (ASX:W2V)
has entered into a substantial international agreement with leading real estate firm JLL, encompassing approximately 25 of JLL’s organizations across the globe. This pact involves implementing Way2VAT’s technology to streamline VAT reclaim processes for travel expenses, entertainment costs, and accounts payable invoices, along with their latest APAI compliance tool. Given that JLL functions in over 80 nations and generates annual revenues exceeding $20 billion, it is anticipated to significantly boost Way2VAT’s income stream.
ASX SMALL CAP LOSERS
Below are the smallest capitalized stocks on the ASX showing poor performance as of May 26 [during trading sessions]:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| AYM | Australia United Min | 0.002 | -33% | 67 | $5,527,732 |
| EDE | Eden Inv Ltd | 0.001 | -33% | 11,000 | $6,164,822 |
| JAY | Jayride Group | 0.001 | -33% | 5,807 | $2,141,834 |
| MRD | Mount Ridley Mines | 0.002 | -33% | 339,129 | $2,335,467 |
| OLI | Oliver’S Real Food | 0.004 | -33% | 141 | $3,244,392 |
| SFG | Seafarms Group Ltd | 0.001 | -33% | 252 | $7,254,899 |
| SKN | Skin Elements Ltd | 0.002 | -33% | 16,356 | $3,225,642 |
| TMX | Terrain Minerals | 0.002 | -33% | 667,500 | $6,745,670 |
| OSL | Oncosil Medical | 0.003 | -29% | 47,708,121 | $16,123,038 |
| CZN | Corazon Ltd | 0.002 | -25% | 120,000 | $2,369,145 |
| QXR | Qx Resources Limited | 0.003 | -25% | 470,480 | $5,241,315 |
| SPX | Spenda Limited | 0.007 | -22% | 1,503,944 | $41,536,939 |
| AMS | Atomos | 0.004 | -20% | 21,926 | $6,075,092 |
| ASR | Asra Minerals Ltd | 0.002 | -20% | 620,000 | $6,916,340 |
| BIT | Biotron Limited | 0.002 | -20% | 45,000 | $3,318,115 |
| ECT | Env Clean Tech Ltd. | 0.002 | -20% | 200,002 | $9,117,026 |
| KPO | Kalina Power Limited | 0.004 | -20% | 272 | $14,664,849 |
| VRC | Volt Resources Ltd | 0.004 | -20% | 194,839 | $23,423,890 |
| AHN | Athena Resources | 0.005 | -17% | 659,278 | $13,595,742 |
| JAV | Javelin Minerals Ltd | 0.003 | -17% | 2,432,945 | $18,138,447 |
| MOH | Moho Resources | 0.005 | -17% | 364,150 | $4,472,484 |
| SRN | Surefire Rescs NL | 0.003 | -17% | 6,743,334 | $7,459,336 |
| GNM | Great Northern | 0.016 | -16% | 1,366 | $2,937,952 |
| BRX | Belararox | 0.097 | -16% | 438,757 | $18,144,559 |
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IF YOU SAW IT YET
Aldoro Resources (ASX:ARN)
mentioned they had initiated a strategic review following inquiries from entities interested in their non-core exploration ventures. They are currently assessing various possibilities, which may involve potential sales or other financial strategies aimed at enhancing shareholder value.
The review won’t include its flagship Kameelburg niobium-REE project in Namibia which remains the main focus. The company believes that asset has the potential to be world class
, potentially home to one of the world’s top three niobium-REE deposits after completing the JORC resource estimate.
The projects currently under evaluation encompass Niobe, Wyemandoo, Narndee, along with a controlling interest in the EPL 7895 gold venture.
No decisions have been finalized as of now, and there’s no assurance that a deal will go through. Aldoro mentioned they will update the market if the review yields significant developments.
Horseshoe Metals (ASX:HOR)
Is nearing the starting line for its Horseshoe Lights copper-gold project as most of the camp infrastructure is now operational again. The company has resolved issues related to power supply, water access, and Starlink communications.
The site is being prepped to kick off Direct Shipping Ore (DSO) copper operations and sales from existing high-grade stockpiles, with a mining licence expected soon. It’s also laying the groundwork for partner Melody Gold to process surface gold material. Exploration and drilling are also on the cards over the next few months.
Zenith Minerals (ASX:ZNC)
is changing focus at its Split Rocks project, moving away from lithium towards gold exploration after identifying regional structures that have not been adequately assessed. ChinPao’s
Tylah Tully explains everything in her latest video.
now ready to watch.
At the same time, Tylah also plunges into
New Age Exploration (ASX:NAE)
’s Wagyu project,
where new golden tracks are prompting comparisons
To locate De Grey’s colossal creature, Hemi.
At ChinPao, we call things as they truly are. Even though Aldoro Resources, Horseshoe Metals, Zenith Minerals, and New Age Exploration are advertisers at ChinPao, they didn’t support this particular piece.
This piece of writing doesn’t provide financial product advice. It would be wise to seek independent advice prior to making any financial choices.
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Lunch Update: ASX Fluctuates with Wisetech and Uranium Stocks Showing Losses
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