Local markets are on track for their fourth straight day of gains, as NSW authorities deal with another bout of ‘rona creep.

The state reported more community transmission over the past 24 hours, with eight COVID-19 cases including a new one at Macquarie University. Victoria reported 11 new cases.

The ASX shrugged off health concerns as all the major indexes climbed, with the ASX200 rising back to a five-week high.

That followed some strong gains on US markets, after Donald Trump dialled back his rhetoric around further government stimulus (or lack thereof).

A day after announcing plans to delay all further stimulus until after the election, Trump executed a backflip of sorts with new calls for targeted stimulus for COVID-19 hit industries such as airlines.

That appeared to be enough to send the S&P500 1.74 per cent higher, after falling by 1.4 per cent the previous day.

However, early indications are that the two sides of Congress are still unlikely to come an agreement on the next package.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Thursday, October 8:

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CODE NAME PRICE % CHANGE MARKET CAP
GIB Gibb River Diamonds 0.18 300 $ 9,045,425
ESR Estrella Res Ltd 0.047 236 $ 10,285,069
ANW Aus Tin Mining 0.0015 50 $ 3,440,885
CCE Carnegie Cln Energy 0.0015 50 $ 11,141,452
MRD Mount Ridley Mines 0.003 50 $ 5,365,588
ROG Red Sky Energy. 0.003 50 $ 4,072,367
MSI Multistack Internat. 0.035 46 $ 2,695,294
ANL Amani Gold Ltd 0.002 33 $ 11,757,295
FPL Fremont Petroleum 0.004 33 $ 11,775,538
TPD Talon Petroleum Ltd 0.004 33 $ 13,055,369
ARR American Rare Earths 0.2 33 $ 43,637,939
WCN White Cliff Min Ltd 0.023 28 $ 8,758,798
VPR Volt Power Group 0.0025 25 $ 18,339,067
RMX Red Mount Min Ltd 0.0085 21 $ 7,891,257
ASN Anson Resources Ltd 0.0035 21 $ 22,720,081
NTM NTM Gold Ltd 0.11 20 $ 62,915,047
MAY Melbana Energy Ltd 0.013 18 $ 25,485,366
TAO TAO Commodities 0.365 18 $ 9,729,867
ASQ Australian Silica 0.09 17 $ 18,710,520
PNX PNX Metals Limited 0.0105 17 $ 22,883,593

 

Resources was the big winner in morning trade, with two WA-based explorers announcing market-moving discoveries.

Gibb River Diamonds (ASX:GIB) announced a big gold hit at its Neta project in WA’s eastern goldfields, near the historic Neta mine.

Shares surged more than 200 per cent as the company flagged nine high-grade gold intersections, highlighted by a 36m intersection at 3.97 grams per tonne (g/t) just 4m below surface.

That price action was matched by Estrella Resources (ASX:ESR), which flagged “massive nickel-copper sulphide mineralisation” at its T5 prospect, 1.1km from Carr Boyd mine in Menzies, WA.

Estrella CEO Chris Daws said the discovery was the result of a “bold move” to drill deep holes well below the existing holes near-surface.

With further drilling underway, Daws said the project “can now join an elite list of recent Western Australian nickel discoveries including the Golden Swan, Julimar and Mawson discoveries”.

 

LOSERS

Here are the best performing ASX small cap stocks at 12pm Thursday, October 8:

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

CODE NAME PRICE % CHANGE MARKET CAP
PCL Pancontinental Oul 0.001 -33 $8,110,000
HLX Helix Resources 0.009 -31 $10,323,559
CLZ Classic Min Ltd 0.0015 -25 $26,678,279
QFY Quantify Tech Ltd 0.0015 -25 $4,017,099
UUV UUV Aquabotix Ltd 0.0015 -25 $3,584,489
MNB Minbos Resources Ltd 0.002 -20 $16,256,403
VAL Valor Resources Ltd 0.004 -20 $9,604,240
SRN Surefire Rescs NL 0.019 -17 $14,447,534
DRE Drednought Resources 0.029 -17 $73,354,660
CZN Corazon Ltd 0.0025 -17 $9,760,077
DLC Delecta Limited 0.006 -14 $7,060,348
MSR Manas Res Ltd 0.006 -14 $18,502,137
RMI Resource Mining Corp 0.012 -14 $4,147,743
GWR GWR Group Ltd 0.185 -14 $54,759,687
TDO 3D Oil Limited 0.056 -14 $17,237,244
REE Rarex Limited 0.1775 -13 $75,361,127
CV1 Cv Check Ltd 0.13 -13 $43,829,651
OKR Okapi Resources 0.17 -13 $7,028,359
ICI Icandy Interactive 0.071 -12 $37,480,761