ASX Small Cap Lunch Wrap: Who’s putting in a marathon effort today?
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Ever gone for a run with too many layers of clothes on then got hot and stuffy before you’ve even warmed up? Spare a thought for Idaho man David Rush who ran a half-marathon while wearing 111 T-shirts.
Rush said it took about 25 minutes for his support team to dress him in the 111 shirts before the YMCA Famous Idaho Potato Marathon on Saturday.
Rush broke a Guinness World Record for his efforts, adding to the 200 records he’s already broken to promote STEM education. The previous record of running a half-marathon with 82 T-shirts was set by British runner David Smith in November 2021.
Rush said cooler temperatures were helpful during his run, which he completed in 2 hours, 47 minutes and 55 seconds, coming in under the three-hour time limit set by Guinness World Records.
However, he still had to struggle with issues from ~18kg of added weight from the T-shirts, including swelling in his hands.
Like his other Guinness World Record achievements, Rush documented his run in a YouTube clip.
And it’s best to remember investing, like life, is a marathon not a sprint. By 12.30pm (AEST) the ASX 200 was modestly up 15.80 points or 0.22% to 7108.80 points.
The Aussie bourse followed leads on Wall Street overnight which were mixed. US shares closed mostly lower, with the tech heavy Nasdaq down by 1.2%. The S&P 500 lost 0.39% while the Dow rose a very modest 0.08%.
The ASX Emerging Companies (XEC) index was not going so well and had fallen 0.81%.
Energy led the sector gainers and was up ~1.75%, followed by materials which rose 0.82%. Health care and tech led the laggards, both down ~1.13%.
Iron ore rose 0.47% to US$132.96 per dry metric tonne. Oil was up with Brent rising 0.32% to US$114.39 per barrel and WTI up 0.27% to US$114.24.
Gold was up 0.13% to US$1,826.44. The Australian dollar was hovering between 69.98 and 70 US cents mark at 12.30pm (AEST). Bitcoin was losing ground and down 2.80% to US$29,894 at 12.30pm (AEST).
Here are the best performing ASX small cap stocks for April 29 [intraday]:
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Shares of Havilah Resources (ASX:HAV) soared today after it announced it had signed an 18-month option with Oz Minerals (ASX:OZL) looking to buy the Kalkaroo copper-gold project for $205 million and for a strategic alliance in the copper rich Curnamona Province.
Oz Minerals will conduct a study program on Kalkaroo over 18 months that will focus on confirming and expanding existing mineral resources, optimising the project scale and value and will include testing approaches across the value chain applying its modern mining approach. Havilah said the results will determine whether Oz Minerals proceeds with the buying Kalkaroo.
Internet of Things tech company X2M Connect (ASX:X2M) has seen its share price rise today after announcing three new tender wins in South Korea with a combined value of $1.25 million. The contracts are for remote water monitoring and control in another 10,387 households.
X2M Connect said the total contract value secured in South Korea during this financial year now exceeds $7.3 million.
Drilling services firm Mitchell Services (ASX:MSV) saw its share price take a hit today after announcing a disappointing trading update. Mitchell said ongoing impacts of multiple wet weather events and Covid-19 have now impacted the company’s operations.
It said the wet weather had delayed the ramp-up of operational rigs previously forecast to reach 85 by June 30. Mitchell said it had incurred material costs in preparation for the new projects and won’t be able to mobilise and generate gross margin from the jobs until it is dry enough.
The company has downgraded its EBITDA for FY22 to between $31-$35 million compared to previous guidance of $40-44 million.