ASX Small Cap Lunch Wrap: Russia has a COVID-19 vaccine, maybe

On Tuesday, Russia became the first country to approve a coronavirus vaccine for mass production — but don’t get excited just yet.

It seems like great news as the number of COVID-19 infections climbs past 20 million worldwide. Even President Vladimir Putin’s daughter has already been inoculated, allegedly.

Mass production could kick off in October, they say.

But experts are sceptical of this ‘fast tracked’ vaccine, which has only been studied in dozens of people, over a relatively short period.

Russian scientists also haven’t published any info about how the vaccine performs in animal tests or in early-stage human studies.

By comparison, vaccines entering final-stage phase-three testing — the only way to prove if an experimental vaccine is safe and really works — usually require studies of 30,000 people each over many months.

Stockhead reported in April that at best, Australia could see a vaccine being available for the whole population in mid-2022.

In July, more than 24 other new vaccine candidates were in human trials around the world.

Another seven repurposed vaccines, such as the tuberculosis BCG vaccine, are also undergoing trials to check whether they work on COVID-19.

The Milken Institute estimates that, overall, there are more than 180 vaccine projects underway around the world.

 

In Markets …

Dodgy or not, European share markets rose yesterday on the news of the Russia-approved vaccine for COVID-19.

Wall Street was also up in early trade, before losing momentum later in the day.

And the gold futures price fell by $US93.40 or 4.6 per cent — the most in seven years — to US$1,946.30 an ounce.

To the local bourse – and the ASX started the day well before dipping into the red, with the benchmark ASX200 down 0.25 per cent to 6,123.6 points at 11:30am AEST.

 

SMALL CAP WINNERS

Here are the best performing ASX small cap stocks at 12pm Wednesday August 12:

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

WordPress Table
Minnow Global Oil & Gas (ASX:GLV) has an exclusive option to buy 20 per cent of WA oil and gas player Goshawk Energy, which holds a dominant landholding in the proven onshore Canning Basin.

Aussie beer company Broo (ASX:BEE) has inked a contract brewing agreement with major brewer CUB for the production of Broo Premium Lager and Australia Draught.

VEEM (ASX:VEE), which makes hi-tech components for luxury yachts, has received $US2m worth of new orders – bringing its current order book up to $US4.2m.

Uranium player Berkeley Energia (ASX:BKY) has received the land use permit needed for construction works at its divisive Salamanca mine in Spain – “a significant permitting milestone for Berkeley and a positive step in the development of the project”, it says.

And iron ore explorer Macarthur Minerals (ASX:MIO) has announced a resource upgrade for the Moonshine magnetite deposit at Lake Giles project in WA.

 

SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks at 12pm Wednesday August 12:

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

WordPress Table