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ASX Small Cap Lunch Wrap: Who’s back flipping for stonks today?
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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:
Swipe or scroll to reveal the full table. Click headings to sort.
| 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 |
