Memestonks, NFTs, Dogecoin… risk assets that some say require ‘diamond hands’ to invest in.

A term that’s become common parlance in post-COVID bull markets — to possess diamond hands is to have a high tolerance for risk.

It can mean holding the bag for an extended period if your risk asset slumps, or refusing to sell as your risk asset moons into the stratosphere.

Unfortunately for rapper Lil Uzi Vert, someone gave the term new meaning at one of his recent concerts.

While crowdsurfing in Miami in July, things went from 0-100 real quick as a concert-goer ripped out the diamond encrusted jewel embedded in his forehead. This diamond, in case you were wondering:

Uzi Vert (real name Symere Woods) has made a full recovery (and still has the diamond).
 

To markets…

While there were some big individual gains among small caps, local stocks again drifted lower into midday trade as Asian markets continued to struggle for direction.

The major miners lost more ground, while travel companies and retail stocks also fell. But the broader index was supported by the big banks, particularly Macquarie (ASX:MQG) as investors cheered its half-year trading update.

Globally, a renewed bout of strength in the US dollar saw oil prices fall while benchmark USD gold prices dipped back below US1,800/oz.

But that didn’t stop a wave of demand for junior ASX gold explorers after some big gold hits overnight…
 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for September 8 [intraday]:

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

Code Name Price % Change Market Cap
NWE Norwest Energy NL 0.0155 93.8% $43,705,776
A1G African Gold Ltd 0.375 82.9% $18,738,608
CLZ Classic Minerals 0.0015 50.0% $22,369,104
YPB YPB Group Ltd 0.003 50.0% $9,983,641
NXM Nexus Minerals Ltd 0.215 43.3% $36,622,751
KEY KEY Petroleum 0.004 33.3% $5,903,784
CCE Carnegie Cln Energy 0.0025 25.0% $29,805,147
GGX Gas2Grid Limited 0.0025 25.0% $8,092,204
TMX Terrain Minerals 0.01 25.0% $5,886,088
OKR Okapi Resources 0.64 23.1% $52,812,098
NTL New Talisman Gold 0.003 20.0% $5,584,451
VPR Volt Power Group 0.003 20.0% $23,361,334
ID8 Identitii Limited 0.215 19.4% $27,373,821
GEV Global Ene Ven Ltd 0.084 16.7% $32,916,230
AYM Australia United Min 0.014 16.7% $22,110,930
ESH Esports Mogul Ltd 0.007 16.7% $17,347,345
IMR Imricor Med Sys 1.2 15.9% $130,135,527
ELT Elementos Limited 0.0265 15.2% $92,364,620
MEB Medibio Limited 0.008 14.3% $12,565,430
MHI Merchant House 0.12 14.3% $9,897,982
UUL Ultima Utd Ltd 0.88 12.8% $57,179,869
A8G Australasian Gold 0.27 12.5% $8,067,586
BAT Battery Minerals Ltd 0.018 12.5% $33,645,241

Small cap gains today were dominated by junior resources and energy plays, with gold strikes aplenty.

But leading the pack this morning was Norwest Energy (ASX:NWE), which almost doubled after the announcement of a big gas find in the Perth Basin by its joint venture partner — $10bn mining company Mineral Resources (ASX:MIN).

MIN confirmed the discovery this morning at its Lockyer Deep-1 exploration well. The company has an 80% interest in EP368 where the well is located, while NWE holds the remaining 20%.

In resources, gains were led by African Gold (ASX:A1G), which surged by more than 80% after announcing an outstanding set of drilling results at its ‘Didievi’ project in Côte d’Ivoire.

A1G wasn’t the only gold stock to run red hot this morning. Get the full rundown in Reuben Adams’ daily resources wrap.

Outside of energy and resources, gains were led by medical device company Imricor Medical Systems (ASX:IMR), which jumped more than 20% after advising that it’s completed the book-build for an institutional placement to raise $16.5m.

IMR, which makes compatible devices for use in MRI-guided heart procedures, said the funds will be used to support its product development pipeline, as well as clinical and regulatory costs.
 

ASX SMALL CAP LOSERS

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

Code Name Price % Change Market Cap
NPM Newpeak Metals 0.001 -50.0% $13,654,870
OAK Oakridge 0.001 -50.0% $6,878,586
HAW Hawthorn Resources 0.046 -23.3% $20,010,937
FFC Farmaforce Ltd 0.05 -23.1% $8,494,264
ARO Astro Resources NL 0.004 -20.0% $18,820,965
DLC Delecta Limited 0.011 -15.4% $13,112,076
TSC Twenty Seven Co. Ltd 0.003 -14.3% $9,312,849
AEV Avenira Limited 0.007 -12.5% $6,902,823
GMR Golden Rim Resources 0.007 -12.5% $21,362,797
GTG Genetic Technologies 0.007 -12.5% $73,808,721
KNI Kunikolimited 1.715 -12.1% $80,870,525
GGE Grand Gulf Energy 0.023 -11.5% $9,977,486
RKN Reckon Limited 1.055 -11.3% $134,820,850
RLC Reedy Lagoon Corp. 0.025 -10.7% $13,160,733
VRC Volt Resources Ltd 0.034 -10.5% $92,721,960
POL Polymetals Resources 0.135 -10.0% $5,823,489
AGS Alliance Resources 0.15 -9.1% $34,322,827
GAL Galileo Mining Ltd 0.3 -9.1% $47,223,398
DCN Dacian Gold Ltd 0.205 -8.9% $217,671,751
DCC Digitalx Limited 0.072 -9.0% $58,434,377
ADV Ardiden Ltd 0.0155 -9.0% $36,539,022
ARD Argent Minerals 0.031 -9.0% $29,812,870
OBM Ora Banda Mining Ltd 0.105 -9.0% $111,979,468