ASX Small Cap Lunchtime Wrap: Who’s waiting on the sidelines?
News
As COVID-19 began sending shockwaves through global markets, Warren Buffett’s Berkshire Hathaway was amassing a massive cash pile.
The record $US137 ($214) billion figure climbed even higher as Berkshire dumped more than $6 billion of stocks in April, making Buffett a net seller of equities so far this year.
“Historically, he’s been pretty visible in the marketplace, encouraging investors to take advantage of market downturns and being greedy when others are fearful,” Jim Shanahan, an analyst at Edward Jones, told Bloomberg.
“But if Buffett himself isn’t seeing opportunities, even in his own stock, what are we to think about the recent market selloff? Is it not a buying opportunity for long-term investors?”
Meanwhile, Elon Musk saw an opportunity to slice a lazy $14bn ($22bn) off the Tesla market cap with one tweet:
Tesla stock price is too high imo
— Elon Musk (@elonmusk) May 1, 2020
Here are the best performing ASX small cap stocks at 12pm Monday May 4:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
---|---|---|---|---|
GTE | GTE | 0.002 | 100.00% | $2.5M |
FGO | Flamingo | 0.002 | 50.00% | $1.1M |
SGC | Sacgasco | 0.017 | 54.55% | $4.6M |
RIM | Rimfire Pacific Mining NL | 0.006 | 50.00% | $7.6M |
OEX | Oilex | 0.003 | 50.00% | $10.3M |
XTC | Xantippe Resources | 0.003 | 50.00% | $6.7M |
DDD | 3D Resources Ltd | 0.002 | 33.33% | $2.1M |
RWD | Reward Minerals Ltd | 0.15 | 25.00% | $24.4M |
APH | Australian Primary Hemp | 0.15 | 25.00% | $10.5M |
DDT | DataDot Technology Ltd | 0.005 | 25.00% | $4.0M |
PMY | Pacifico Minerals Ltd | 0.005 | 25.00% | $14.4M |
SPQ | Superior Resources Ltd | 0.005 | 25.00% | $3.7M |
GTR | GTI Resources Ltd | 0.017 | 26.92% | $6.0M |
APT | Afterpay Touch | 35.92 | 23.18% | $7.8B |
FAM | Family Insights Group | 0.045 | 21.62% | $2.4M |
CEL | Challenger Exploration | 0.175 | 25.00% | $75.0M |
ZNC | Zenith Minerals Ltd | 0.054 | 20.00% | $11.0M |
MSM | MSM Corp | 0.012 | 20.00% | $8.4M |
BNL | Big Star Energy | 0.006 | 20.00% | $3.7M |
WA explorer Rumble Resources (ASX:RTR) hit sections of high grade zinc-lead-silver up to 200m wide at the Earaheedy project, which “highlights the potential for multiple large scale (large tonnage) flat-lying sulphide deposits that would be amenable to open cut mining”.
The biggest winner from this news was minority joint venture partner Zenith Minerals (ASX:ZNC), which rose +15 per cent.
Uranium/vanadium explorer GTI Resources (ASX:GTR) received a +23 per cent bump when storied mining investor Tolga Kumova increased his ownership stake from 8.6 per cent to 10 per cent.
And tiddler Rimfire (ASX:RIM) has snared a $4.5m earn in agreement with private co Golden Plain Resources (GPR) over the Fifield Project in NSW.
GPR will immediately commit to a $240,000 equity investment in Rimfire shares at 0.32 cents per share, a premium to the current share price.
GPR will invest $1.5m per year for three years to earn a 50.1 per cent interest in the JV area.
Following the completion of the earn-in, GPR have committed to fund project development, including Rimfire’s portion. Rimfire will repay its share of the development costs from operating cash flows.
Here are the worst performing ASX small cap stocks at 12pm Monday May 4:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
---|---|---|---|---|
ARO | Astro Resources NL | 0.002 | -33.33% | $3.8M |
CRO | Cirralto | 0.002 | -33.33% | $2.5M |
HIP | Hipo Resources | 0.011 | -21.43% | $5.4M |
POW | Protean Energy | 0.004 | -20.00% | $1.6M |
TPS | Threat Protect Australia | 0.044 | -18.52% | $13.0M |
LIN | Lindian Resources | 0.014 | -17.65% | $9.9M |
ARD | Argent Minerals Ltd | 0.014 | -17.65% | $10.8M |
ADX | Adx Energy Ltd | 0.005 | -16.67% | $10.3M |
CE1 | Calima Energy | 0.005 | -16.67% | $12.9M |
MNQ | Mint Payments | 0.005 | -16.67% | $5.5M |
AJM | Altura Mining Ltd | 0.038 | -16.30% | $119.7M |
TBL | Tambla | 0.15 | -14.29% | $3.5M |
GMR | Golden Rim | 0.006 | -14.29% | $8.6M |
AQD | Ausquest Ltd | 0.012 | -14.29% | $9.5M |
MEY | Marenica Energy Ltd | 0.056 | -13.85% | $8.5M |
RDG | Resource Development Group | 0.019 | -13.64% | $12.0M |
NWF | Newfield Resources Ltd | 0.165 | -13.16% | $95.9M |
POD | Podium Minerals | 0.02 | -13.04% | $3.7M |
MXR | Maximus Resources | 0.027 | -12.90% | $1.4M |