In a surprise move, Rio Tinto (ASX:RIO) has declared a force majeure on customer contracts at its Richards Bay Minerals project in South Africa, due to an escalation in the security situation at the operations.

In contractual terms, a force majeure is declared where events take place that are deemed outside the reasonable control of one party, that prevent it from meeting its obligations.

Rio said it’s calling a timeout at Richards Bay until the safety and security situation improves. Its share price rose by 2 per cent today following the announcement.

Meanwhile, the ASX200 looks to be heading into the new financial year on a positive note.

At lunch time, the index was trading 0.61 per cent higher, with all sectors in the green save for Utilities which dropped 2.2 per cent.

Telstra (ASX:TLS) gained 4 per cent after selling a 49 per cent stake in its mobile infrastructure business InfraCo Towers, with half of the sale proceeds to be retuned to shareholders.

Fast fashion and jewellery retailer Lovisa (ASX:LOV) rallied by almost 6 per cent after its biggest shareholder, BB Retail Capital, struck a deal to sell lingerie chain Honey Birdette to Nasdaq-listed PLBY.

It seems the deal is interpreted by investors to be a sign of things to come for Lovisa.

WINNERS

Here are the best performing ASX small cap stocks in morning trade for Wednesday, June 30:

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

CODE NAME PRICE % CHANGE VOLUME
XTC Xantippe Resources 0.002 100.00% 700.78K
CLZ Classic Minerals Ltd 0.002 50.00% 130.06M
SGI Stealth Global 0.125 31.58% 1.42M
IOD Iodm 0.28 27.27% 754.47K
MRD Mount Ridley Mines Ltd 0.003 50.00% 4.53M
AL3 Aml3d 0.23 25.00% 2.29M
BSM Bass Metals Ltd 0.005 25.00% 1.40M
CIO Connected IO 0.005 25.00% 3.03M
VIC Victory Mines 0.003 25.00% 2.02M
NGS Nutritional Growth 0.25 21.95% 845.64K
SYA Sayona Mining Ltd 0.088 18.92% 86.07M
RKN Reckon 0.92 17.20% 1.47M
WSI Westar 0.19 18.75% 186.16K
OZM Ozaurum Resources 0.13 18.18% 156.69K
HMI Hiremii 0.12 17.35% 841.67K
AUN Aurumin 0.2 17.14% 221.40K
ARE Argonaut Resources N L 0.007 16.67% 1.60M
BCT Bluechiip Ltd 0.044 15.79% 1.46M
OAR Oakdale Resources Ltd 0.015 15.38% 20.47M
EDE Eden Innovations 0.023 15.00% 5.98M
MBK Metal Bank Ltd 0.008 14.29% 709.10K
TER Terracom 0.125 13.64% 2.66M

3D metal printing specialist, AML3D (ASX:AL3) jumped by 20 per cent after receiving a purchase contract to produce a 3D printed tooling component from Boeing.

Organic rock phosphate explorer, Fertoz (ASX:FTZ), rose by 14 per cent after announcing that it will commence mining operations at Fernie, Canada in July due to orders exceeding 10,000 tonnes in North America.

Nutritional Growth Solutions (ASX:NGS) rose by 24 per cent after saying it has surpassed US$500k in wholesale sales for its Healthy Height shake range in Italy since its debut in March this year.

Accounting software stocks IODM (ASX:IOD) and Reckon (ASX:RKN) were also among the ASX’s biggest winners this morning.

Reckon rose by 20 per cent after announcing that payments fintech Novatti (ASX:NOV) was taking a 17 per cent stake in the business for $17 million.

IODM meanwhile rose by 16 per cent after revealing it had signed its first client in the UK within the education sector, which would contributed over 30 per cent of the company’s full year revenue.

 

LOSERS

Here are the best performing ASX small cap stocks in morning trade for Wednesday, June 30:

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

CODE NAME PRICE % CHANGE VOLUME
DDD 3D Resources Ltd 0.004 -20.00% 550.10K
WOO Wooboard Technologies 0.003 -16.67% 17.83M
PKD Parkd 0.035 -16.67% 46.86K
FGO Fargo Enterprises 0.005 -16.67% 657.32K
SIT Site Group International Ltd 0.011 -15.38% 450.00K
CAV Carnavale Resources Ltd 0.007 -12.50% 2.81M
NXL Nuix 2.23 -12.20% 6.88M
ESH Esports Mogul 0.007 -11.76% 4.36M
ASF ASF Group Ltd 0.053 -11.67% 0.12K
TRM Truscott Mining 0.032 -11.11% 244.26K
MRL Mayur Resources 0.2 -11.11% 28.58K
AND Andromeda Metals 0.16 -11.11% 17.81M
SKS SKS Technologies Group 0.205 -10.87% 3.53K
NTI Neurotech Intl 0.052 -10.34% 513.33K
ICL Iceni Gold 0.18 -10.00% 149.66K
SIH Sihayo Gold 0.009 -10.00% 243.78K
MGT Magnetite Mines 0.08 -9.09% 51.46M
COY Coppermoly Ltd 0.01 -9.09% 4.96K
SRH Saferoads Holdings Ltd 0.2 -9.09% 11.64K
POW Protean Energy 0.01 -9.09% 1.67K
GEN Genmin 0.21 -8.51% 268.00K
M8S M8 Sustainable 0.022 -8.33% 97.95K

The emabattled Nuix (ASX:NXL) dropped 15 per cent and hit an all time low of $2.16 earlier today, as ASIC begins investigations into its former CFO.