ASX Lunch Wrap: ASX flattens as Webjet, Accent tumble; Nvidia disappoints

ASX starts strong with US market bounce, then fizzles out
Nvidia misses sales forecast, shares drop; but Bitcoin nears US$95k
Web Travel Group slumps as auditor asks for more time in closing books

The ASX started Thursday strong but flattened out by about midday.

This followed a late bounce in US markets overnight as Nvidia’s results came in mostly in line with expectations. But its share price fell 2% after hours as investors were hoping for even stronger numbers.

Nvidia’s sales forecast of US$37.5 billion for the next quarter fell short of some high predictions, with one as high as US$41 billion. The company reported 94% revenue growth to US$35.1 billion in Q3, surpassing analysts’ predictions of US$33.25 billion.

Meanwhile, Bitcoin keeps climbing, nearing $95,000 as post-election optimism grows.

Nigel Green, CEO of deVere Group, has raised his forecast, predicting Bitcoin could hit US$120,000 by March 2025.

“The US$100,000 milestone, which once seemed bold, now looks conservative. The growing narrative of Bitcoin as digital gold is becoming impossible to ignore,” he said.

On the ASX today, Energy led the way and Discretionary lagged.

Web Travel Group (ASX:WEB) came out of trading halt and instantly dropped almost 5%. The company announced yesterday that the release of its 1H25 results, originally scheduled for Wednesday, has been postponed as it works with auditor Deloitte to finalise the books.

Footwear retailer Accent Group (ASX:AX1), the owner of Athlete’s Foot, Hype DC and Platypus, plunged 14% as it warned that most retailers are slashing prices to attract shoppers, hurting margins.

Sayona Mining (ASX:SYA) also had a rough day, down 10% after announcing a $40 million equity raise at a low price of 3.2 cents per share ahead of its merger with Piedmont Lithium (ASX:PLL).

And, Chris Ellison and the board of Mineral Resources (ASX:MIN) are likely to face a protest vote at today’s AGM over their pay report, following the recent scandal that has upset shareholders.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for November 21 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Code	Name	Price	% Change	Volume	Market Cap
AMD	Arrow Minerals	0.002	33%	2,818,823	$19,835,442
LNU	Linius Tech Limited	0.002	33%	5,195,420	$9,226,824
IFG	Infocus Group	0.028	87%	26,522,550	$1,631,640
PTR	Petratherm Ltd	0.175	52%	9,223,583	$34,900,465
RIE	Riedel Resources Ltd	0.002	50%	1,100,000	$3,335,753
T3D	333D Limited	0.010	43%	47,951	$1,233,284
AAU	Antilles Gold Ltd	0.004	33%	6,819,874	$5,567,228
AHN	Athena Resources	0.004	33%	125,000	$3,746,636
BYH	Bryah Resources Ltd	0.004	33%	255,000	$1,509,861
GCR	Golden Cross	0.004	33%	36,016	$3,291,768
JAV	Javelin Minerals Ltd	0.004	33%	1,125,000	$15,568,189
OAR	OAR Resources Ltd	0.002	33%	1,354,169	$4,951,252
AXN	Alliance Nickel Ltd	0.049	32%	824,171	$26,856,066
QEM	QEM Limited	0.047	31%	752,079	$6,870,013
CDT	Castle Minerals	0.003	25%	2,166,681	$3,345,628
ERA	Energy Resources	0.003	25%	2,556,401	$44,296,598
FHS	Freehill Mining Ltd.	0.005	25%	806,000	$12,314,111
POS	Poseidon Nick Ltd	0.005	25%	1,001,832	$16,815,502
WML	Woomera Mining Ltd	0.003	25%	4,371,529	$4,333,180
AIV	Activex Limited	0.016	23%	275,086	$2,801,534

InFocus Group (ASX:IFG), a retail intelligence tech company, has secured a US$2.5 million contract with GBO Assets to develop a new digital social gaming platform, VigoBet Tech. The project will be completed over 24 months, with $1.1 million expected in revenue within the first three months. CEO Ken Tovich sees this as a major step into new markets.

Petratherm (ASX:PTR) held its AGM today as chairman Derek Carter highlighted the company’s exciting copper/gold projects at Woomera and Mabel Creek, where drill-ready targets for Tier 1 IOCG deposits have been identified. At Muckanippie, the team discovered high-grade titanium mineralisation, with 28% of surface samples showing over 30% TiO2. Initial results have exceeded expectations, leading to a successful capital raise and a 100-hole drilling program.

Energy Resources of Australia (ASX:ERA) said Rio Tinto (ASX:RIO) has taken up its full entitlement in ERA’s rights issue, increasing its ownership to over 98%. The $766.5 million raised will fund the rehabilitation of the Ranger Project Area in the NT. Rio intends to compulsorily acquire the remaining ERA shares at $0.002 each, in line with its earlier plans.

Encounter Resources (ASX:ENR) said the first RC drilling results at Green have confirmed high-grade niobium mineralisation, extending from the nearby Luni discovery. Key intercepts include 116m at 1.7% Nb2O5 and 81m at 1.5% Nb2O5. These results, along with previous aircore drilling, show significant niobium potential over a large area, the company said.

Miramar Resources (ASX:M2R) has extended the strike length of copper, lead, silver and gold mineralisation at the Joy Helen prospect within the Chain Pool project in WA. Recent rock chip sampling has confirmed high-grade mineralisation over 400m, with potential for a 1km strike. Also, copper sulphide mineralisation has been found in dolerite dykes of the Mundine Well Suite.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for November 21 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Code	Name	Price	% Change	Volume	Market Cap
VML	Vital Metals Limited	0.002	-33%	1,815,257	$17,685,201
88E	88 Energy Ltd	0.002	-25%	78,383,342	$57,867,624
POD	Podium Minerals	0.031	-21%	5,254,396	$17,735,124
ADX	ADX Energy Ltd	0.048	-20%	13,137,386	$34,370,955
NXD	Nexted Group Limited	0.125	-19%	103,270	$34,335,100
EE1	Earths Energy Ltd	0.014	-18%	48,896	$9,009,392
AON	Apollo Minerals Ltd	0.015	-17%	3,968,281	$12,534,172
WC1	Westcobarmetals	0.015	-17%	336,955	$2,745,006
ALM	Alma Metals Ltd	0.005	-17%	300,000	$9,399,133
PUR	Pursuit Minerals	0.003	-17%	206,000	$10,906,200
BUY	Bounty Oil & Gas NL	0.004	-17%	200,000	$7,192,805
OD6	Od6Metalsltd	0.038	-16%	355,607	$5,791,058
AHX	Apiam Animal Health	0.390	-15%	539,143	$83,960,022
IG6	Internationalgraphit	0.056	-15%	157,485	$12,774,850
KP2	Kore Potash PLC	0.058	-15%	905,377	$46,378,581
TEG	Triangle Energy Ltd	0.006	-14%	99,780	$14,624,638
FSG	Field Solu Hldgs Ltd	0.025	-14%	102	$22,429,892
XGL	Xamble Group Limited	0.019	-14%	5,302	$6,515,456
CAZ	Cazaly Resources	0.013	-13%	744,850	$6,919,545
1TT	Thrive Tribe Tech	0.004	-13%	3,464,241	$2,813,446
AYT	Austin Metals Ltd	0.004	-13%	35,000	$5,296,765
GTR	Gti Energy Ltd	0.004	-13%	2,948	$11,851,799
IMU	Imugene Limited	0.035	-13%	40,096,317	$297,532,426
LPM	Lithium Plus	0.105	-13%	237,044	$15,940,800
AX1	Accent Group Ltd	2.220	-12%	3,190,472	$1,431,977,417

IN CASE YOU MISSED IT

Bevis Yeo and Jessica Cummins reported that:

Burrendong Minerals, which has the right to earn an interest in Impact Minerals’ (ASX:IPT) highly prospective Commonwealth project in the highly prolific Lachlan Fold Belt in NSW, has made its IPO prospectus available.

IPT’s shareholders have a priority entitlement of $2 million in the IPO, which seeks to raise $5m at 20c per share with a free attaching option exercisable at 25 cents within 36 months of listing for every two shares subscribed. Should Burrendong list on the ASX, IPT will retain a 49% interest in the Commonwealth project, receive a $275,000 cash payment, and be the largest shareholder in the new company with a 12.5% interest.

Managing director Dr Mike Jones, who will sit on Burrendong’s board, said the IPO was an opportunity to participate in one of Australia’s most prolific mineral belts – the Lachlan copper-gold belt.

“Once listed, Burrendong will take control of our exceptional Commonwealth gold-silver-copper project, which has been on hold due to our focus on the Lake Hope high purity alumina project,” he added.

Omega Oil and Gas (ASX:OMA) has appointed Milton Cooper, an energy professional with more than 30 years’ experience, to the role of chief commercial officer effective from February 2025. Milton will be responsible for commercial, finance, business development, investor relations, government relations and other corporate functions.

He joins OMA from Galilee Energy (ASX:GLL) where he has held the roles of chief financial officer and chief commercial officer since 2018.

“Milton’s deep industry experience and strong strategic management capabilities will greatly assist us in achieving our near term objectives and delivering our longer-term growth strategy,” OMA managing director Trevor Brown said.

At Stockhead, we tell it like it is. While Impact Minerals and Omega Oil and Gas are Stockhead advertisers, they did not sponsor this article.

This article does not constitute financial product advice. You should really consider obtaining independent advice before making any financial decisions.