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ASX Small Cap Lunch Wrap: Who’s climbing the wall of worry today?
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Bond markets are rumbling, but stock investors aren’t worried yet as the ASX made a solid start to the week in Monday morning trade.
The ASX microcap Emerging Companies index outperformed the big end of town with a gain of more than 1%, as more money continues to flow into the junior resources space with winners aplenty.
In a relatively calm session, the ASX All-Tech index also posted moderate gains alongside large cap gold stocks, as equity investors sent mixed signals on their way up the wall of worry.
After US jobs data met expectations on Friday night and the US unemployment rate held at historic lows, yields on 2-year US government bonds climb above that of 30-year bonds.
While 2y-10y inversions are a favourite among market commentators as a recession indicator, the extended 2y-30y hasn’t inverted since 2007 — the same years markets peaked before the 2008 financial crisis.
Elsewhere in Asian trade, there’s no guide from Chinese markets today, because they’re closed for a holiday.
However, over the weekend China’s financial regulators flagged an interesting change which would see US investors given increased access to the audit papers of Chinese companies.
In other markets, the AUD is holding at just above US75c while Bitcoin is little changed near US$46,000.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for April 4 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Market Cap |
|---|---|---|---|---|
| NTL | New Talisman Gold | 0.002 | 33.3% | $4,690,838 |
| PUR | Pursuit Minerals | 0.037 | 32.1% | $26,475,377 |
| EMS | Eastern Metals | 0.25 | 28.2% | $6,942,000 |
| ENT | Enterprise Metals | 0.023 | 27.8% | $11,603,643 |
| LRS | Latin Resources Ltd | 0.185 | 27.6% | $233,177,749 |
| CMX | Chemxmaterials | 0.28 | 27.3% | $10,194,965 |
| TMX | Terrain Minerals | 0.014 | 27.3% | $8,093,371 |
| CNB | Carnaby Resource Ltd | 1.57 | 27.1% | $177,266,037 |
| OXX | Octanex Ltd | 0.03 | 25.0% | $6,215,464 |
| ARO | Astro Resources NL | 0.005 | 25.0% | $18,820,965 |
| DCX | Discovex Res Ltd | 0.01 | 25.0% | $20,549,313 |
| MLS | Metals Australia | 0.18 | 24.1% | $52,769,574 |
| GSM | Golden State Mining | 0.105 | 23.5% | $7,062,479 |
| NRX | Noronex Limited | 0.074 | 23.3% | $10,212,587 |
| GED | Golden Deeps | 0.016 | 23.1% | $10,086,069 |
| SYA | Sayona Mining Ltd | 0.3075 | 23.0% | $1,774,854,053 |
| LSR | Lodestar Minerals | 0.017 | 21.4% | $24,338,123 |
| PDL | Pendal Group Ltd | 5.44 | 21.4% | $1,716,509,715 |
| BMM | Balkanminingandmin | 0.35 | 20.7% | $9,497,500 |
| DRE | Dreadnought Resources | 0.047 | 20.5% | $110,708,658 |
| RBX | Resource B | 0.235 | 20.5% | $7,789,779 |
| EPM | Eclipse Metals | 0.036 | 20.0% | $57,633,792 |
| RIM | Rimfire Pacific | 0.009 | 20.0% | $13,546,836 |
| TYX | Tyranna Res Ltd | 0.006 | 20.0% | $6,561,803 |
| WML | Woomera Mining Ltd | 0.024 | 20.0% | $13,736,661 |
There’s been a number of thrilling copper hits to keep investors excited in recent weeks, and that trend continued this morning for Namibia-based explorer Golden Deeps (ASX:GED).
The company flagged a copper-vanadium-lead hit this morning which included 53.52m at 3.6% copper equivalent, GED said.
The completion of its maiden diamond drilling program now paves the way for a maiden resource estimate and further project development studies, the company added.
More copper; Carnaby Resources (ASX:CNB) said it’s unearthed significant Cu mineralisation of its own at its Greater Duchess copper-gold project in Mt Isa, Queensland.
“The drill results and visuals coming in from the ongoing drilling continue to point towards a major new resource and development project at Greater Duchess”, managing director Rob Watkins said.
And red-hot lithium play Sayona Mining (ASX:SYA) — now up ~150% over the past month — continued its rally today, after announcing that testing from Novonix (ASX:NVX) indicated its “Authier product performs as well as commercially available battery‐grade lithium hydroxide”.
Reuben Adams has all you need to know about today’s biggest resources winners right here.
ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks for April 4 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Market Cap |
|---|---|---|---|---|
| TEM | Tempest Minerals | 0.125 | -30.6% | $71,622,162 |
| ANW | Aus Tin Mining | 0.0015 | -25.0% | $25,433,574 |
| EVE | EVE Health Group Ltd | 0.0015 | -25.0% | $8,619,617 |
| AIZ | Air New Zealand | 0.92 | -20.0% | $1,291,270,861 |
| GGX | Gas2Grid Limited | 0.002 | -20.0% | $10,145,255 |
| AO1 | Assetowl Limited | 0.0025 | -16.7% | $4,288,841 |
| KEY | KEY Petroleum | 0.0025 | -16.7% | $5,903,784 |
| SBR | Sabre Resources | 0.005 | -16.7% | $12,208,882 |
| BRX | Belararoxlimited | 0.925 | -15.9% | $31,163,022 |
| DMM | Dmcmininglimited | 0.17 | -15.0% | $5,440,000 |
| SPA | Spacetalk Ltd | 0.115 | -14.8% | $29,170,901 |
| MM1 | Midasmineralsltd | 0.2 | -13.0% | $12,290,769 |
| AJQ | Armour Energy Ltd | 0.014 | -12.5% | $31,674,695 |
| GES | Genesis Resources | 0.014 | -12.5% | $12,525,461 |
| RR1 | Reach Resources Ltd | 0.007 | -12.5% | $15,280,405 |
| OLL | Openlearning | 0.057 | -12.3% | $13,934,986 |
| GLE | GLG Corp Ltd | 0.26 | -11.9% | $21,859,500 |
| FZR | Fitzroy River Corp | 0.155 | -11.4% | $18,891,994 |
| BXN | Bioxyne Ltd | 0.016 | -11.1% | $11,522,617 |
| CLE | Cyclone Metals | 0.004 | -11.1% | $25,624,066 |
| CTO | Citigold Corp Ltd | 0.008 | -11.1% | $25,502,932 |
| OEX | Oilex Ltd | 0.004 | -11.1% | $32,255,058 |
| PWN | Parkway Corp Ltd | 0.008 | -11.1% | $19,848,196 |
| TTA | TTA Holdings Ltd | 0.032 | -11.1% | $4,947,243 |
| IMR | Imricor Med Sys | 0.61 | -10.9% | $98,156,347 |
