ASX Small Cap Lunch Wrap: Who’s coming down from the mountains today?
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A Serbian hermit has come down from his cave in the mountains, discovered there’s a pandemic and had his first COVID-19 vaccination.
Panta Petrovic nailed the art of social distancing over 20 years ago, sleeps on hay, owns several goats, chickens, about 30 dogs and cats and a wild boar named Mara – but says he wants to be protected.
“I want to get all three doses, including the extra one,” Petrovic said.
“It [the virus] does not pick. It will come here, to my cave, too.”
The Australian share market is easing for the first time since August 3, with the ASX 200 down 0.4 per cent to 7,598.6 on Monday.
This follows a relatively flat finish from US markets on Friday, with the market being held back by losses from the banks, energy stocks, consumer discretionary companies and some healthcare businesses.
“Keep in mind that this follows a 1.2 per cent lift for our market last week, record highs hit over eight of the past 11 days and keeps the market on track to lift for an 11th consecutive month,” Commsec analyst Steven Daghlian said.
Travel stocks including Flight Centre (FLT), Webjet (WEB) and Qantas (QAN) are under pressure on Monday.
And Sydney Airport (SYD) is a touch higher after receiving a revised takeover bid from the Sydney Aviation Alliance at an indicative price of $8.45 cash per security – which it rejected, maintaining that this ‘continues to undervalue’ the airport and that it isn’t in the best interest of shareholders.
Here are the best performing ASX small cap stocks for August 16 [intraday]:
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The funds raised will be allocated towards the initiation of pivotal Phase 3 trials, for the application of the Dimerix’s proprietary DMX-200 formula in the treatment of FSGS kidney disease.
Australian Mines (ASX:AUZ) jumped 35% after announcing LGES — a subsidiary of LG Chem, the world’s #1 producer of advanced batteries for the electric vehicle industry – has now inked a binding offtake with the company for its ‘Sconi’ nickel-cobalt project in QLD.
During the initial 6yr term of the agreement, LGES will buy 71,000 dry metric tonnes of nickel and 7,000 dry metric tonnes of cobalt as mixed hydroxide precipitate (MHP).
Followed by Globe Metals & Mining (ASX:GBE) also up 35% – but on no news.
Ausmon Resources (ASX:AOA) and Mount Ridley Mines (ASX:MRD) were both up 33% on no news, and Archer Materials (ASX:AXE) was up 25% on plans to put its mineral tenement divestment strategy to shareholders for approval at the end of the month.
The biggest loser today is Wooboard Technologies (ASX:WOO) down 50% on no news, followed be Carnegie Clean Energy (ASX:CCE) down 33%, Mediland Pharmaceuticals (ASX:MPH) down 31% and Pancontinental Oil (ASX:PCL) down 25% – all on no news.