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ASX Small Cap Lunch Wrap: Who’s terrible with names today?
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Global discussions about police brutality and racial inequality are have some unexpected impacts.
A petition to rename the city of Columbus, Ohio, ‘Flavortown’ – a classy nod to famous restaurateur and favourite son Guy Fieri – is gaining some traction.
The name would also honour the city’s “proud heritage as a culinary crossroads and one of the nation’s largest test markets for the food industry,” according to the petition.
Brands are also feeling the pressure – the name attached to ‘Eskimo Pie’, the century-old chocolate-covered ice cream, will soon be retired, for instance.
And in Australia, some East Coast bottle shops are pulling Margaret River brewery Colonial Brewing Co’s beers from shelves after complaints about the name.
In Global Markets…
European sharemarkets rose on Friday as investors focused on the EU’s proposed €750bn program to help economies bounce back from lockdowns.
US shares fluctuated as news that China plans to increase purchases of American farm goods, were balanced out by fears over record COVID-19 cases in Florida and Arizona.
Global oil prices lifted again on Friday, with US benchmark (Nymex) crude futures hitting their highest level since March 6.
Over the week, gold was up by US$15.70 an ounce or 0.9 per cent to ~US$1,743/oz, while iron ore fell by 2.2% to about US$103 a tonne – the first decline in 6 weeks.
The ASX200 — +7.6 points to 5,950.2 by midday today — is now up 30 per cent since those late March lows.
However, the benchmark index is still down about 16 per cent on its 2020 highs.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Monday June 22:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| DDD | 3D Resources | 0.004 | 75.00% | $6.6M |
| FGO | Flamingo | 0.0015 | 50.00% | $1.1M |
| CCE | Carnegie Clean | 0.0015 | 50.00% | $11.1M |
| LCD | Latitude Consolidated | 0.025 | 47.06% | $6.3M |
| BBX | BBX Minerals | 0.19 | 40.74% | $79.3M |
| CPT | Cipherpoint | 0.035 | 40.00% | $1.3M |
| ELT | Elementos | 0.004 | 33.33% | $10.2M |
| ESE | Esense-Lab | 0.025 | 31.58% | $4.3M |
| CZI | Cassini Resources | 0.16 | 28.00% | $68.4M |
| AR9 | Archtis | 0.1 | 20.48% | $16.5M |
| RLC | Reedy Lagoon | 0.005 | 25.00% | $2.0M |
| BMG | BMG Resources | 0.005 | 25.00% | $3.4M |
| PSZ | PS&C | 0.031 | 24.00% | $15.5M |
| GMR | Golden Rim | 0.011 | 22.22% | $14.2M |
| PTR | Petratherm | 0.085 | 21.43% | $14.6M |
| FPL | Fremont Petroleum | 0.006 | 20.00% | $12.7M |
| NZS | New Zealand Coastal Seafood | 0.012 | 20.00% | $5.3M |
| EHX | EHR Resources | 0.12 | 20.00% | $17.6M |
| WRM | White Rock Minerals | 0.006 | 20.00% | $14.1M |
| SER | Strategic Energy Resources | 0.006 | 20.00% | $7.1M |
| RDN | Raiden | 0.006 | 20.00% | $2.6M |
In the morning’s biggest news, producer OZ Minerals (ASX:OZL) will acquire Cassini Resources (ASX:CZI) to consolidate ownership of the West Musgrave project in WA.
Cassini will demerge its Yarawindah Brook and Mount Squires assets into a new company, Caspin Resources, which it intends to list on the ASX. The stock was up 28 per cent in morning trade.
Latitude Consolidated (ASX:LCD) also jumped +47 per cent after securing an option to buy a gold project in South Australia.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Monday June 22:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| YPB | YPB Group | 0.002 | -33.33% | $3.4M |
| BSM | Bass Metals | 0.002 | -33.33% | $6.4M |
| CZN | Corazon Mining | 0.002 | -20.00% | $4.8M |
| AGE | Alligator Energy | 0.004 | -20.00% | $5.8M |
| XTC | Xantippe Resources | 0.002 | -20.00% | $8.0M |
| EFE | Eastern Iron | 0.004 | -20.00% | $1.7M |
| MLM | Metallica Minerals | 0.01 | -16.67% | $3.2M |
| MSR | Manas Resources | 0.005 | -16.67% | $13.2M |
| TMZ | Thomson Resources | 0.016 | -15.79% | $1.9M |
| CGB | Cann Global | 0.006 | -14.29% | $20.3M |
| TYX | Tyranna Resources | 0.003 | -14.29% | $3.4M |
| CXU | Cauldron Energy | 0.021 | -12.50% | $7.9M |
| OPL | Shareroot | 0.088 | -12.00% | $2.6M |
| AJQ | Armour Energy | 0.022 | -12.00% | $13.0M |
| GUL | Gullewa | 0.085 | -11.46% | $13.8M |
| WCN | White Cliff Minerals | 0.008 | -11.11% | $3.9M |
| HNG | HGL | 0.16 | -11.11% | $12.1M |
| RAN | Range International | 0.008 | -11.11% | $2.9M |
| ESR | Estrella Resources | 0.008 | -11.11% | $4.3M |
