Trump administration trade advisor Peter Navarro. Getty Images.
ASX Small Cap Lunch Wrap: Who got ‘taken out of context’ today?
News
share
Local stocks got off to a sluggish start this morning, after what was a relatively stable session on global markets to start the week.
Early momentum in Asian trade was thwarted by evidence of a further breakdown in the US-China relationship.
It followed comments from Trump administration trade advisor Peter Navarro, who told reporters the prospect of a trade deal was “over”.
Navarro also reiterated the US was disappointed with China’s tardiness in notifying other countries of the outbreak.
Not long after that though, he fronted the media again; this time to clarify that his comments about a trade deal were taken “wildly out of context”.
In fact, the deal is still in place, although the US government now has a “lack of trust” in China’s ruling Communist Party.
It appeared that clarification was enough for a market rebound, and shortly after midday EST both the ASX200 and the Small Ords Index had clawed back into positive territory.
The Australian dollar also got a boost, pushing back above 69 US cents.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Tuesday June 23:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| FGO | Flamingo AI | 0.002 | 50.00% | $1.1M |
| PDZ | Prairie Downs Metals | 0.195 | 50.00% | $27.6M |
| KZR | Kalamazoo Resources | 0.7 | 44.33% | $87.4M |
| SOR | Strategic Elements Ltd | 0.075 | 36.36% | $21.2M |
| GID | GI Dynamics | 0.004 | 33.33% | $3.7M |
| DTS | Dragontail Systems | 0.16 | 28.00% | $39.8M |
| DW8 | Digital Wine Ventures | 0.02 | 25.00% | $23.2M |
| OKR | Okapi Resources | 0.15 | 25.00% | $4.3M |
| WBE | Whitebark Energy | 0.005 | 25.00% | $12.2M |
| RXL | Rox Resources Ltd | 0.078 | 25.81% | $123.3M |
| LPI | Lithium Power | 0.245 | 22.50% | $59.2M |
| VRC | Volt Resources | 0.023 | 21.05% | $43.7M |
| BRK | Brookside Energy | 0.006 | 20.00% | $6.0M |
| ESE | Esense-Lab | 0.024 | 20.00% | $4.3M |
| SIH | Sihayo Gold | 0.03 | 20.00% | $68.7M |
| SHE | Stonehorse Energy | 0.006 | 20.00% | $2.4M |
| HWK | Hawkstone Mining | 0.013 | 18.18% | $13.8M |
| VMC | Venus Metals Corporation Ltd | 0.33 | 17.86% | $48.4M |
| ICU | Isentric Ltd | 0.027 | 17.39% | $5.5M |
| IPT | Impact Minerals Ltd | 0.014 | 16.67% | $21.8M |
WA-based explorer Kalamazoo Resources (ASX:KZR) was a big mover in morning trade, after announcing it has acquired the Ashburton gold project (on the southern edge of the Pilbara Craton) from Northern Star Resources (ASX:NST).
Around 350,000oz of gold have been produced so far at Ashburton, and the project has a resource estimate of more than 20 million tonnes at 2.5 grams per tonne.
And shares in Strategic Elements (SOR) — which operates as a pooled development fund with a mandate to back innovative projects — also ticked sharply higher after the company announced its subsidiary, Stealth Technologies, had filed a number of patents with regard to the development of its autonomous robotics platform.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Tuesday June 23:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| MGT | Magnetite Mines | 0.002 | -33.33% | $4.5M |
| GLA | Gladiator Resources | 0.001 | -33.33% | $3.0M |
| PNN | Pepinnini Minerals Ltd | 0.001 | -33.33% | $1.6M |
| AVW | Avira Energy | 0.003 | -25.00% | $3.4M |
| CP1 | CannPal Animal | 0.11 | -24.14% | $10.2M |
| DAV | Davenport Resources | 0.039 | -22.00% | $6.7M |
| IP1 | Integrated Payment Technologies | 0.02 | -16.67% | $6.2M |
| FTT | Factor Therapeutics | 0.0025 | -16.67% | $2.1M |
| CYM | Cyprium Metals | 0.13 | -13.33% | $7.3M |
| WHK | WhiteHawk | 0.087 | -13.00% | $13.8M |
| CWZ | Cashwerkz | 0.15 | -11.76% | $27.8M |
| ICE | Icetana | 0.115 | -11.54% | $17.8M |
| CXX | Cradle Resources Ltd | 0.04 | -11.11% | $7.6M |
| DCX | Discovex Resources | 0.008 | -11.11% | $7.7M |
| CDT | Castle Minerals Ltd | 0.008 | -11.11% | $2.2M |
| TNR | Torian Resources Ltd | 0.025 | -10.71% | $10.0M |
| IMC | Immuron Ltd | 0.295 | -10.61% | $52.6M |
| KRR | King River Copper | 0.034 | -10.53% | $47.5M |
| ADS | Adslot | 0.017 | -10.53% | $31.4M |
