The ASX has piled more runs on the board this week. Picture via Getty Images
ASX Lunch Wrap: Local market’s good form continues as Brainchip and Droneshield soar
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- ASX rallies on commodity boost
- Brainchip and Droneshield soar post Christmas break
- Aussies might have splashed $1.3b on Boxing Day sales
The ASX is back in action after the Christmas break, making the most of a rise in commodity prices to keep this week’s rally rolling.
At 12:55pm AEDT, the benchmark added 0.55%. Not bad for a post-holiday comeback, with 9 out of 11 sectors in the green.
The rally capped off a strong Monday, when the ASX had its best day in six months, jumping 1.7% after last week’s heavy selling.
Discretionary stocks led the charge this morning, buoyed by anticipation the retail sector can deliver a strong finish to the year.
According to the Australian Retailers Association (ARA) and Roy Morgan, Aussies might have splashed $1.3 billion on Boxing Day sales, with $3.7 billion expected over the six days post-Christmas.
Mining stocks also surged today on the back higher commodity prices. Goldies were up after bullion rose 0.6% to US$2,632/oz at the time of writing.
One of the best performers this morning was BrainChip Holdings (ASX:BRN), which rose by over 20% on no specific news.
DroneShield (ASX:DRO) also skyrocketed by 13% after fund manager Vanguard took a 5.5% stake in the company.
Meanwhile, tech giants on Wall Street were mostly on the back foot overnight, with Tesla dropping 2% as it continued its post-Christmas slump.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for December 27 [intraday]:
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| 1TT | Thrive Tribe Tech | 0.003 | 50% | 6,466,736 | $2,813,446 |
| FAU | First Au Ltd | 0.002 | 33% | 1,300,000 | $3,107,990 |
| TVN | Tivan Limited | 0.120 | 33% | 7,758,166 | $171,896,683 |
| GCM | Green Critical Min | 0.012 | 28% | 50,782,990 | $17,167,980 |
| ABX | ABX Group Limited | 0.040 | 25% | 114,613 | $8,009,390 |
| ADG | Adelong Gold Limited | 0.005 | 25% | 719,414 | $4,471,956 |
| WBE | Whitebark Energy | 0.010 | 25% | 542,631 | $2,018,668 |
| RR1 | Reach Resources Ltd | 0.008 | 23% | 1,706,237 | $5,683,804 |
| BRN | Brainchip Ltd | 0.385 | 22% | 29,814,955 | $621,327,412 |
| MTM | MTM Critical Metals | 0.225 | 22% | 10,140,962 | $75,222,624 |
| TOU | Tlou Energy Ltd | 0.018 | 20% | 323,737 | $19,478,765 |
| RMI | Resource Mining Corp | 0.006 | 20% | 50,000 | $3,261,739 |
| EMU | EMU NL | 0.031 | 17% | 749,945 | $5,001,859 |
| 1AI | Algorae Pharma | 0.007 | 17% | 428,204 | $10,124,368 |
| ATH | Alterity Therap Ltd | 0.007 | 17% | 74,033,446 | $31,922,017 |
| BCB | Bowen Coal Limited | 0.007 | 17% | 33,701,334 | $64,650,195 |
| CHM | Chimeric Therapeutic | 0.007 | 17% | 1,800,823 | $9,450,899 |
| GTR | Gti Energy Ltd | 0.004 | 17% | 200,000 | $8,888,849 |
| IXR | Ionic Rare Earths | 0.007 | 17% | 754,539 | $31,370,570 |
| ION | Iondrive Limited | 0.030 | 15% | 6,271,406 | $22,870,475 |
| OZM | Ozaurum Resources | 0.030 | 15% | 20,784 | $4,127,500 |
Tivan (ASX:TVN) surged after the chairman’s update, which reiterated its key partnership with Sumitomo Corporation and confirmation that the Speewah Fluorite Project is fully funded. The announcement, combined with the progress at Sandover and a strong balance sheet, sparked investor confidence that Tivan is on track for growth in the critical minerals sector.
Bowen Coking Coal (ASX:BCB) hit a quarterly sales record of 544Kt, up 31% from the previous quarter. Coal production stayed strong, with the Burton Mine pumping out 544Kt of Run-of-Mine coal, slightly above target. The company also said it’s made progress at the Plumtree North mine, ahead of schedule, and enjoyed strong efficiency at its coal handling and preparation plant.
ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks for December 27 [intraday]:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| NRZ | Neurizer Ltd | 0.001 | -50% | 3,851,924 | $5,929,721 |
| VML | Vital Metals Limited | 0.002 | -33% | 454,143 | $17,685,201 |
| SRI | Sipa Resources Ltd | 0.013 | -28% | 2,131,888 | $4,106,846 |
| AMD | Arrow Minerals | 0.002 | -25% | 1,762,853 | $26,447,256 |
| ERL | Empire Resources | 0.003 | -25% | 258,333 | $5,935,653 |
| FHS | Freehill Mining Ltd. | 0.003 | -25% | 4,980 | $12,314,111 |
| NAE | New Age Exploration | 0.003 | -25% | 3,000,000 | $8,575,596 |
| TX3 | Trinex Minerals Ltd | 0.002 | -25% | 78,811 | $3,657,305 |
| VFX | Visionflex Group Ltd | 0.003 | -25% | 240,000 | $13,471,442 |
| MMR | Mec Resources | 0.004 | -20% | 1,000,000 | $9,159,035 |
| TEG | Triangle Energy Ltd | 0.004 | -20% | 2,682,701 | $10,446,170 |
| LML | Lincoln Minerals | 0.005 | -17% | 426,008 | $12,337,557 |
| AXN | Alliance Nickel Ltd | 0.036 | -14% | 71,559 | $30,485,264 |
| RML | Resolution Minerals | 0.012 | -14% | 264,642 | $3,155,448 |
| SRN | Surefire Rescs NL | 0.003 | -14% | 2,300,000 | $7,232,077 |
| ZMM | Zimi Ltd | 0.012 | -14% | 200,000 | $5,417,217 |
| SMX | Strata Minerals | 0.020 | -13% | 614,150 | $4,388,749 |
| AAU | Antilles Gold Ltd | 0.004 | -13% | 3,236,210 | $7,431,504 |
| CTO | Citigold Corp Ltd | 0.004 | -13% | 332,000 | $12,000,000 |
| T92 | Terrauraniumlimited | 0.037 | -12% | 274,641 | $3,354,113 |
| JAL | Jameson Resources | 0.040 | -11% | 1,153 | $27,482,999 |
| MML | Mclaren Minerals | 0.040 | -11% | 11,112 | $4,682,926 |
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