ASX Small Cap Lunch Wrap: Bulls mourn as Donny turns off the money tap

Pic: Getty/Stockhead

This is a tale of two post-COVID economic (and political) policy strategies.

On one side is the Australia government’s record breaking budget cash splash to fast track economic recovery.

On the other is Trump’s decision to call off stimulus talks until after the US election.

“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill,” tweeted a potentially drugged up Donny.

After being up in morning trade, the three major Wall street indexes finished the day 1.3 to 1.6 per cent lower.

This could be a watershed moment for the recovering US economy, says Oxford Economics’ Gregory Daco.

Even if aid is eventually delivered in 2021, the economy would approach stall speed in Q4, putting the US in a “perilous situation” on the eve of flu and election season.

“It’s simple,” Daco says. “Less fiscal stimulus means more economic pain.”

And vice versa.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Wednesday, October 7:

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

CODE	NAME	PRICE	% CHANGE	MARKET CAP
PCL	Pancontinental Oil	0.0015	50	$ 5,406,715.49
JHL	Jayex Healthcare	0.061	33	$ 9,262,699.10
SIS	Simble Solutions	0.037	32	$ 5,650,827.06
ARR	American Rare Earths	0.11	24	$ 25,891,843.69
CV1	Cv Check	0.14	22	$ 33,602,732.74
PEK	Peak Resources	0.036	20	$ 42,332,029.14
WHK	Whitehawk	0.15	20	$ 22,492,785.63
DCX	Discovex Resources	0.006	20	$ 5,980,820.38
MEB	Medibio	0.012	20	$ 13,476,625.69
XST	Xstate Resources	0.003	20	$ 3,623,102.25
XTC	Xantippe Resources	0.003	20	$ 10,186,411.01
KEY	KEY Petroleum	0.0065	18	$ 10,823,604.69
PLL	Piedmont Lithium	0.565	18	$ 554,553,698.88
GNM	Great Northern Minerals	0.021	17	$ 16,247,816.03
WBT	Weebit Nano	0.875	17	$ 78,832,889.25
ARO	Astro Resources	0.007	17	$ 8,777,471.47
MSR	Manas Resources	0.007	17	$ 15,858,974.93
HWK	Hawkstone Mining	0.015	15	$ 15,858,786.78
QEM	QEM	0.11	15	$ 3,816,606.91
ARE	Argonaut Resources	0.008	14	$ 17,208,282.54

Energy ‘Saas’ firm Simble (ASX:SIS) completed a $1m oversubscribed placement to accelerate growth and expansion plans in Australia and the UK.

Online verification company CV Check (ASX:CV1) recorded a 40 per cent jump in quarter-on-quarter sales “despite pandemic related shutdowns in New Zealand and Victoria”.

Mental health medtech Medibio (ASX:MEB) inked a Clinical Trial Agreement with leading US sleep disorder group MedBridge to support Medibio’s ‘Sleep Analysis of Depressive Burden’ (SADB) trial.

Great Northern Minerals (ASX:GNM) uncovered a “significant”, +900m long gold system at the ‘Big Rush’ project in Queensland.

And Hawkstone Mining (ASX:HWK) aquired a new US gold project called ‘Devil’s Canyon’ – located within the 195 million oz Carlin Trend — where early stage sampling has returned grades up to 92.2 grams per tonne (g/t).

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Wednesday, October 7:

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

CODE	NAME	PRICE	% CHANGE	MARKET CAP
PRX	Prodigy Gold	0.051	-20	$ 37,160,166.78
LVE	Love Group Global	0.05	-19	$ 2,513,118.48
NTL	New Talisman Gold	0.005	-17	$ 16,753,352.18
BAT	Battery Minerals	0.011	-15	$ 17,135,190.14
FPL	Fremont Petroleum	0.003	-14	$ 13,738,127.16
CPH	Creso Pharma	0.033	-13	$ 15,659,584.81
WNB	Wellness and Beauty	0.007	-13	$ 10,785,442.30
EMT	Emetals	0.022	-12	$ 10,005,000.00
IOU	Ioupay	0.12	-11	$ 49,756,468.59
CZL	Consolidated Zinc	0.004	-11	$ 11,210,602.25
TMR	Tempus Resources	0.205	-11	$ 18,287,884.66
SAU	Southern Gold	0.125	-11	$ 22,399,549.20
CFO	Cfoam	0.025	-11	$ 5,380,872.73
HXG	Hexagon Energy	0.053	-10	$ 17,253,570.42
CGB	Cann Global	0.0045	-10	$ 17,832,910.67
RHY	Rhythm Biosciences	0.235	-10	$ 52,388,910.86
WOA	Wide Open Agriculture	0.97	-9	$ 83,229,785.22
DAV	Davenport Resources	0.041	-9	$ 8,867,364.71