The sudden drop in spot gold prices and reintroduction of COVID-19 restrictions in New Zealand have hit the relevant ASX small caps this morning.

After 100 days of being virus-free, four COVID-19 cases were detected in the country. New Zealand authorities are yet to determine the source of infection as the victims have no recent history of overseas travel.

Stage three restrictions have been reimposed in Auckland for the rest of the week as a precautionary measure, while the rest of the country is subject to stage two restrictions.

 

NZ-based stocks tumble

As at 1.30pm AEST only three ASX stocks domiciled in New Zealand were up while 37 were down and the remaining 15 were unchanged.

Code Name Price % Chg Volume
PVL Powerhouse Ventures Ltd 0.06 +10.71% 10.0k
9SP 9 Spokes International Ltd 0.03 +3.03% 5.2M
VHT Volpara Health Technologies Lt 1.32 +1.15% 478.3k
AFP AFT Pharmaceuticals Ltd 4.25 +0.00% 10.3k
BGP Briscoe Group Ltd 3.25 +0.00% 1.5k
CLI CropLogic Ltd 0.03 +0.00% 9.0M
FGL Frugl Group Ltd 0.03 +0.00% 70.5k
FSF Fonterra Co-operative Group Lt 3.5 +0.00% 1.8k
HRL HRL Holdings Ltd 0.11 +0.00% 181.5k
LCT Living Cell Technologies Ltd 0.02 +0.00% 590.5k
MPP Metro Performance Glass Ltd 0.19 +0.00% 2.9k
NTL New Talisman Gold Mines Ltd 0.01 +0.00% 428.9k
NZK NEW Zealand King Salmon Invest 1.67 +0.00% 3.0k
TOM Tomizone Ltd 0.002 +0.00% 480.3k
TRA Turners Automotive Group Ltd 2 +0.00% 10.1k
TWR TOWER Ltd 0.55 +0.00% 1.7k
CNU Chorus Ltd 6.91 -0.29% 301.3k
SPK Spark New Zealand Ltd 4.48 -0.67% 877.8k
A2M a2 Milk Co Ltd 18.73 -0.69% 1.0M
EBO EBOS Group Ltd 20.12 -0.89% 4.0k
SNZ Summerset Group Holdings Ltd 6.83 -1.01% 2.6k
EVO Evolve Education Group Ltd 0.09 -1.10% 1.6M
NEU Neuren Pharmaceuticals Ltd 1.27 -1.17% 150.0k
AIA Auckland International Airport 5.74 -1.20% 674.2k
FPH Fisher & Paykel Healthcare Cor 31.54 -1.41% 411.9k
TLT Tilt Renewables Ltd 3.35 -1.62% 16.2k
ADR Adherium Ltd 0.03 -6.67% 1.1M
VGL Vista Group International Ltd 1.08 -5.88% 73.5k
AIZ Air New Zealand Ltd 1.22 -5.43% 5.1M
SKO Serko Ltd 2.87 -4.97% 174.7k
ARR American Rare Earths Ltd 0.04 -4.88% 2.7M
SKC SKYCITY Entertainment Group Lt 2.23 -4.70% 943.9k
KMD Kathmandu Holdings Ltd 1.03 -4.61% 2.9M
KTD Keytone Dairy Corp Ltd 0.22 -4.44% 40.8k
OCA Oceania Healthcare Ltd 0.9 -4.26% 4.1k
FBU Fletcher Building Ltd 3.13 -3.99% 1.5M
SKT SKY Network Television Ltd 0.13 -3.85% 1.4M
GTK Gentrack Group Ltd 1.16 -3.53% 4.3k
ZEL Z Energy Ltd 2.56 -3.40% 151.7k
CEN Contact Energy Ltd 5.68 -3.24% 19.3k
SMP Smartpay Holdings Ltd 0.62 -3.15% 246.9k
GNE Genesis Energy Ltd 2.58 -3.01% 34.7k
IKE ikeGPS Group Ltd 0.82 -2.94% 58.0k
MEZ Meridian Energy Ltd 4.31 -2.71% 17.5k
MCY Mercury NZ Ltd 4.37 -2.67% 4.5k
IFT Infratil Ltd 4.4 -2.65% 17.2k
SM1 Synlait Milk Ltd 6.14 -2.54% 20.1k
ARX Aroa Biosurgery Ltd 1.42 -2.41% 338.9k
PPH Pushpay Holdings Ltd 7.32 -2.40% 335.5k
ZNO Zoono Group Ltd 2.19 -2.23% 613.7k
XRO Xero Ltd 88.57 -1.97% 238.9k
NZM NZME Ltd 0.25 -1.96% 145.3k
BRL Bathurst Resources Ltd 0.05 -1.96% 531.6k

 

A number of companies have clarified what it means for them and not all are affected.

Biotech Aroa Biosurgery (ASX:ARX) said today it didn’t expect any disruption to its operations because it falls into the essential business category.

The company reminded investors it continued under even more arduous stage four restrictions earlier this year and was not seeing supply chain disruption.

It was a similar story for both large and small cap food and dairy plays, such as New Zealand Coastal Seafoods (ASX:NZS) and Synlait Milk (ASX:SM1), last time around.

And there’s little reason to suggest things will be different this time, at least during stage three.

On the other hand Skycity (ASX:SKC) will have to close its Auckland casino and telco Spark (ASX:SPK) will have to close a handful of stores in Auckland.

 

Gold stocks also head south

It was a similar story among gold stocks this morning. After a long bull run for several months, the gold price had its worst day since June 2013 falling over 5 per cent.

Once again only three stocks gained while a significant number tumbled off the back of no news.

Stocks that had seen monumental success in recent months made up a significant proportion of the losers — two examples being Tesoro Resources (ASX:TSO) and Alkane Resources (ASX:ALK)

Code Name Price % Chg Volume
ANL Amani Gold Ltd 0.001 +100.00% 8.5M
KGM KalNorth Gold Mines Ltd 0.02 +13.33% 291.0k
AME Alto Metals Ltd 0.09 +1.14% 49.8k
AAJ Aruma Resources Ltd 0.005 +0.00% 14.6M
AEE Aura Energy Ltd 0.004 +0.00% 953.5k
ALY Alchemy Resources Ltd 0.02 +0.00% 961.1k
ARM Aurora Minerals Ltd 0.02 +0.00% 150.0k
ARS ALT Resources Ltd 0.05 +0.00% 200.0k
AVW Avira Resources Ltd 0.005 +0.00% 500.0k
AWV Anova Metals Ltd 0.04 +0.00% 1.2M
BNR Bulletin Resources Ltd 0.08 +0.00% 240.7k
CGN Crater Gold Mining Ltd 0.01 +0.00% 500.0k
CLA Celsius Resources Ltd 0.02 +0.00% 696.4k
CXU Cauldron Energy Ltd 0.03 +0.00% 300.0k
DCX Discovex Resources Ltd 0.01 +0.00% 9.2M
DGR DGR Global Ltd 0.07 +0.00% 1.2M
GED Golden Deeps Ltd 0.01 +0.00% 38.0M
GML Gateway Mining Ltd 0.02 +0.00% 3.1M
GMN Gold Mountain Ltd/Australia 0.05 +0.00% 676.1k
GUL Gullewa Ltd 0.09 +0.00% 20.0k
HRZ Horizon Minerals Ltd 0.19 +0.00% 2.6M
HXG Hexagon Energy Materials Ltd 0.06 +0.00% 657.5k
LNY Laneway Resources Ltd 0.01 +0.00% 4.3M
MAU Magnetic Resources NL 1.55 +0.00% 37.9k
MLS Metals Australia Ltd 0.002 +0.00% 195.0k
MSR Manas Resources Ltd 0.005 +0.00% 6.3M
NES Nelson Resources Ltd 0.07 +0.00% 1.2M
NWM Norwest Minerals Ltd 0.13 +0.00% 9.5k
OAU Ora Gold Ltd 0.02 +0.00% 742.9k
OKR Okapi Resources Ltd 0.22 +0.00% 53.0k
PUA Peak Minerals Ltd 0.03 +0.00% 7.2M
RDS Redstone Resources Ltd 0.015 +0.00% 118.1k
SBR Sabre Resources Ltd 0.003 +0.00% 8.1M
SFM Santa Fe Minerals Ltd 0.08 +0.00% 42.2k
SKY Sky Metals Ltd 0.14 +0.00% 187.0k
SMI Santana Minerals Ltd 0.003 +0.00% 3.9M
TLM Talisman Mining Ltd 0.14 +0.00% 170.5k
TSC Twenty Seven Co Ltd 0.01 +0.00% 4.5M
VAN Vango Mining Ltd 0.12 +0.00% 137.3k
VRC Volt Resources Ltd 0.02 +0.00% 2.4M
WWI West Wits Mining Ltd 0.03 +0.00% 22.3M
XTC Xantippe Resources Ltd 0.002 +0.00% 6.5M
RND Rand Mining Ltd 2.08 -0.95% 114.7k
CDV Cardinal Resources Ltd 0.72 -1.03% 1.0M
ARL Ardea Resources Ltd 0.6 -1.64% 148.7k
DGO DGO Gold Ltd 2.8 -1.75% 16.1k
MEI Meteoric Resources NL 0.05 -2.08% 9.5M
BRB Breaker Resources NL 0.23 -2.13% 1.2M
TBR Tribune Resources Ltd 8.02 -2.20% 18.3k
KRM Kingsrose Mining Ltd 0.04 -2.63% 507.7k
GWR GWR Group Ltd 0.07 -2.70% 5.0k
TAM Tanami Gold NL 0.07 -2.82% 1.1M
AZS Azure Minerals Ltd 0.16 -3.03% 649.7k
AXE Archer Materials Ltd 0.46 -3.19% 505.1k
HAW Hawthorn Resources Ltd 0.14 -3.45% 298.4k
NAG Nagambie Resources Ltd 0.05 -3.51% 252.0k
PDI Predictive Discovery Ltd 0.08 -3.61% 8.0M
MEU Marmota Ltd 0.05 -3.64% 2.6M
MKG Mako Gold Ltd 0.13 -3.70% 1.4M
PRU Perseus Mining Ltd 1.42 -3.73% 7.6M
BDC Bardoc Gold Ltd 0.08 -3.80% 8.9M
ADN Andromeda Metals Ltd 0.05 -3.92% 5.5M
ONX Orminex Ltd 0.05 -4.00% 610.3k
NCM Newcrest Mining Ltd 33.82 -4.03% 3.2M
PGI PanTerra Gold Ltd 0.05 -4.08% 28.5k
GNM Great Northern Minerals Ltd 0.02 -4.17% 6.4M
NUS Nusantara Resources Ltd 0.34 -4.29% 41.1k
CHN Chalice Gold Mines Ltd 0.99 -4.35% 1.4M
AQI Alicanto Minerals Ltd 0.11 -4.35% 2.3M
MDI Middle Island Resources Ltd 0.02 -4.55% 50.4M
ERX Exore Resources Ltd 0.1 -4.55% 2.1M
TIE Tietto Minerals Ltd 0.55 -4.74% 1.1M
WMX Wiluna Mining Corp Ltd 1.2 -4.76% 94.7k
AUC Ausgold Ltd 0.04 -4.88% 6.3M
G88 Golden Mile Resources Ltd 0.06 -4.92% 129.6k
DCN Dacian Gold Ltd 0.33 -5.00% 4.7M
TAR Taruga Minerals Ltd 0.06 -5.08% 1.2M
SLR Silver Lake Resources Ltd 2.24 -5.08% 6.6M
MML Medusa Mining Ltd 0.9 -5.26% 941.7k
RRL Regis Resources Ltd 5.39 -5.36% 2.8M
BCN Beacon Minerals Ltd 0.04 -5.41% 11.3M
E2M E2 Metals Ltd 0.17 -5.41% 186.2k
GOR Gold Road Resources Ltd 1.65 -5.43% 6.0M
RMS Ramelius Resources Ltd 1.89 -5.50% 7.0M
RML Resolution Minerals Ltd 0.07 -5.56% 3.6M
KCN Kingsgate Consolidated Ltd 0.6 -5.56% 468.1k
DTR Dateline Resources Ltd 0.002 -33.33% 2.7M
DRE Dreadnought Resources Ltd 0.012 -25.00% 65.2M
AGS Alliance Resources Ltd 0.19 -22.00% 283.7k
DHR Dark Horse Resources Ltd 0.002 -20.00% 1.2M
CDT Castle Minerals Ltd 0.01 -18.75% 14.4M
NAE New Age Exploration Ltd 0.01 -18.18% 43.3M
MOH Moho Resources Ltd 0.13 -16.13% 539.0k
ARN Aldoro Resources Ltd 0.1 -16.00% 429.8k
LEX Lefroy Exploration Ltd 0.27 -15.62% 866.3k
MKR Manuka Resources Ltd 0.41 -14.58% 2.1M
GSM Golden State Mining Ltd 0.38 -13.64% 971.1k
CHZ Chesser Resources Ltd 0.19 -13.64% 5.8M
ARV Artemis Resources Ltd 0.08 -13.33% 8.4M
AOP Apollo Consolidated Ltd 0.34 -12.82% 255.8k
SVL Silver Mines Ltd 0.2 -12.77% 51.5M
RMX Red Mountain Mining Ltd 0.01 -12.50% 2.5M
GMR Golden Rim Resources Ltd 0.01 -12.50% 18.7M
SAU Southern Gold Ltd 0.14 -12.12% 642.3k
GBR Great Boulder Resources Ltd 0.05 -12.07% 677.3k
CST Castile Resources Ltd 0.22 -12.00% 1.5M
AUT Auteco Minerals Ltd 0.19 -11.90% 6.1M
MCT Metalicity Ltd 0.02 -11.54% 17.8M
A1G African Gold Ltd 0.16 -11.11% 121.3k
ERM Emmerson Resources Ltd 0.1 -10.91% 1.3M
EMR Emerald Resources NL 0.58 -10.77% 1.1M
BAR Barra Resources Ltd 0.03 -10.71% 1.0M
FML Focus Minerals Ltd 0.43 -10.42% 198.4k
GSN Great Southern Mining Ltd 0.13 -10.34% 2.2M
PUR Pursuit Minerals Ltd 0.02 -10.00% 15.3M
ALK Alkane Resources Ltd 1.05 -9.87% 3.8M
TSO Tesoro Resources Ltd 0.19 -9.76% 8.5M
TTM Titan Minerals Ltd 0.14 -9.68% 5.5M
HMX Hammer Metals Ltd 0.06 -9.68% 3.2M
AAR Anglo Australian Resources NL 0.17 -9.46% 1.4M
RED Red 5 Ltd 0.24 -9.43% 9.7M
KWR Kingwest Resources Ltd 0.14 -9.38% 419.9k
WAF West African Resources Ltd 0.92 -9.36% 7.6M
MTH Mithril Resources Ltd 0.03 -9.09% 17.1M
MLL Mali Lithium Ltd 0.15 -9.09% 517.7k
GRL Godolphin Resources Ltd 0.2 -8.89% 71.8k
PRX Prodigy Gold NL 0.07 -8.75% 2.2M
CWX Carawine Resources Ltd 0.21 -8.70% 119.6k
KZR Kalamazoo Resources Ltd 0.63 -8.63% 584.6k
TRY Troy Resources Ltd 0.12 -8.00% 2.5M
GBZ GBM Resources Ltd 0.12 -8.00% 934.7k
AMG Ausmex Mining Group Ltd 0.04 -7.89% 2.1M
KTA Krakatoa Resources Ltd 0.07 -7.69% 1.1M
VKA Viking Mines Ltd 0.01 -7.69% 1.3M
NVA Nova Minerals Ltd 0.05 -7.55% 9.9M
BBX BBX Minerals Ltd 0.19 -7.50% 37.6k
CMM Capricorn Metals Ltd 1.85 -7.50% 628.4k
OKU Oklo Resources Ltd 0.31 -7.46% 1.4M
SBM St Barbara Ltd 3.16 -7.46% 6.7M
HRN Horizon Gold Ltd 0.5 -7.41% 1.9k
STN Saturn Metals Ltd 0.81 -7.39% 202.8k
MAR Malachite Resources Ltd 0.05 -7.27% 100.0k
BGL Bellevue Gold Ltd 1.02 -7.24% 7.7M
RSG Resolute Mining Ltd 1.19 -7.03% 11.0M
EVN Evolution Mining Ltd 5.44 -7.01% 11.9M
AYR Alloy Resources Ltd 0.04 -6.98% 2.4M
NXM Nexus Minerals Ltd 0.07 -6.94% 505.2k
RXL Rox Resources Ltd/Australia 0.05 -6.90% 23.3M
SAR Saracen Mineral Holdings Ltd 5.28 -6.71% 12.0M
WGX Westgold Resources Ltd 2.15 -6.71% 1.4M
TMX Terrain Minerals Ltd 0.01 -6.67% 6.2M
CTO Citigold Corp Ltd 0.01 -6.67% 7.0M
BYH Bryah Resources Ltd 0.06 -6.67% 390.5k
ADV Ardiden Ltd 0.01 -6.67% 51.2M
CAI Calidus Resources Ltd 0.56 -6.61% 632.9k
BC8 Black Cat Syndicate Ltd 0.79 -6.55% 438.2k
MTC MetalsTech Ltd 0.22 -6.52% 564.3k
MZZ Matador Mining Ltd 0.4 -6.40% 1.8M
DTM Dart Mining NL 0.22 -6.38% 233.6k
NST Northern Star Resources Ltd 14.36 -6.27% 2.7M
TNR Torian Resources Ltd 0.01 -6.25% 6.1M
VMC Venus Metals Corp Ltd 0.22 -6.25% 51.7k
MAT Matsa Resources Ltd 0.15 -6.25% 740.9k
CY5 Cygnus Gold Ltd 0.16 -6.06% 349.4k
DAU Dampier Gold Ltd 0.03 -6.06% 2.6M
BRV Big River Gold Ltd 0.05 -6.00% 4.4M
DEG De Grey Mining Ltd 0.71 -5.92% 5.8M
SIH Sihayo Gold Ltd 0.03 -5.88% 105.4k
SLZ Sultan Resources Ltd 0.17 -5.71% 177.4k
CYL Catalyst Metals Ltd 2.5 -5.66% 40.6k
RGL Riversgold Ltd 0.05 -5.56% 1.4M

 

Panic buying sets in again

Undoubtadly both of these shifts were unexpected after months of stability. There was no end in sight to the gold run and New Zealand had just gone over 100 days without community transmission.

Overnight, images emerged out of New Zealand of panic buying occurring at supermarkets across the country.

But experts have warned investors not to do likewise.

Joseph Capurso, head of international economics at the Commonwealth Bank of Australia, is optimistic about the situation. This is despite Auckland accounting for 33 per cent of New Zealand’s employment and around 38 per cent of GDP.

“If the lockdowns are removed after three days, the damage to New Zealand’s’ economy should be small,” he said in a client note this morning.

As for the apparent halt in the gold rally, industry analyst Gavin Wendt said the plunge overnight was not the beginning of the end and there was still upside left.