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ASX Small Cap Lunch Wrap: Who’s down for the count today?
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It’s been a torrid 24 hours for the Commonwealth Bank, which is reeling after ASIC found its “Dollarmites Club” was little more than a marketing ploy targeting schoolkids.
Many thought CBA wouldn’t get back up off the mat after receiving what looked to be a knockout punch – Choice’s ‘shonky’ award for relentless marketing to children.
But it did.
ASIC, however, stalked the punchdrunk CBA around the ring and finally cornered it with the claim its school banking program was “not fit for purpose”.
“School banking program providers fail to effectively disclose that a strategic objective of these programs is customer acquisition,” ASIC thundered.
“School banking programs claim to help children develop long term savings habits; however, providers were unable to demonstrate that these programs in and of themselves improve savings behaviour.”
Shareholders voted with their investment cash, sending the Big 4 up between 1.8% and 2.2% today.
Meanwhile, neobank Xinja collapsed after launching with a bank licence in September last year, raising about $80 million from Australian and offshore investors, and handling around $500 million from savers in that short 15 months.
“The best thing… for Xinja is to pivot away from being a bank,” CEO Eric Wilson informed those customers.
Anyhoo. Non-children’s-saver-account-adjacent stocks are having a good day on the ASX, following the US lead in which the S&P 500 snapped a four-session losing streak – its longest since late September.
At lunch, the ASX 200 is up 83.40 points to 6714.70.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Wednesday December 16:
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Market Cap |
|---|---|---|---|---|
| CLZ | Classic Min Ltd | 0.0015 | 50 | $ 15,268,268.31 |
| LCY | Legacy Iron Ore | 0.058 | 45 | $ 249,889,540.68 |
| HAW | Hawthorn Resources | 0.15 | 36 | $ 36,686,717.43 |
| KFE | Kogi Iron Ltd | 0.043 | 30 | $ 27,869,678.96 |
| IKW | Ikwezi Mining Ltd | 0.005 | 25 | $ 16,260,000.00 |
| XTC | Xantippe Res Ltd | 0.0025 | 25 | $ 8,149,128.80 |
| VMS | Venture Minerals | 0.062 | 24 | $ 51,297,208.50 |
| AKO | Akora Resources | 0.475 | 22 | $ 19,322,604.21 |
| CAU | Cronos Australia | 0.155 | 19 | $ 6,321,250.00 |
| TMR | Tempus Resources Ltd | 0.255 | 19 | $ 17,095,196.53 |
| VMY | Vimy Resources Ltd | 0.062 | 17 | $ 41,269,354.66 |
| ADO | Anteotech Ltd | 0.105 | 17 | $ 159,887,421.81 |
| AKM | Aspire Mining Ltd | 0.14 | 17 | $ 60,916,438.20 |
| LEX | Lefroy Exploration | 0.21 | 17 | $ 21,474,239.94 |
| AAJ | Aruma Resources Ltd | 0.007 | 17 | $ 9,536,483.42 |
| EM1 | Emerge Gaming Ltd | 0.078 | 16 | $ 53,975,935.46 |
| HAS | Hastings Tech Met | 0.18 | 16 | $ 186,668,374.42 |
| RSH | Respiri Limited | 0.145 | 16 | $ 89,917,598.75 |
| GME | GME Resources Ltd | 0.058 | 16 | $ 27,843,346.50 |
| GGE | Grand Gulf Energy | 0.011 | 16 | $ 3,645,620.04 |
| OPY | Openpay Group | 2.5 | 16 | $ 176,039,172.72 |
Legacy Iron Ore (ASX: LCY) continued its bonkers run this week, gaining another 30-odd per cent to extend its rise to +550pc for the week.
And Estrella Resources found a few dumpers today with a drilling update that pretty confirmed there was, uh, more exploration to be done.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Wednesday December 16:
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| SRN | Surefire Rescs NL | 0.033 | -27 | 56,792,351 | $ 32,862,538.80 |
| GNM | Great Northern | 0.013 | -24 | 7,195,133 | $ 15,434,633.27 |
| RFG | Retail Food Group | 0.07 | -23 | 22,440,881 | $ 192,928,663.02 |
| FMS | Flinders Mines Ltd | 0.95 | -20 | 105,208 | $ 200,085,563.75 |
| CG1 | Carbonxt Group | 0.14 | -18 | 269,386 | $ 23,705,641.50 |
| SCI | Silver City Minerals | 0.019 | -17 | 3,098,264 | $ 11,177,085.82 |
| NPM | Newpeak Metals | 0.0025 | -17 | 470,000 | $ 14,004,487.53 |
| NTL | New Talisman Gold | 0.005 | -17 | 300,000 | $ 16,753,352.18 |
| EM1 | Emerge Gaming Ltd | 0.073 | -15 | 19,895,227 | $ 69,282,544.02 |
| STK | Strickland Metals | 0.047 | -15 | 3,477,792 | $ 23,163,333.66 |
| CRN | Coronado Global Res | 0.98 | -14 | 3,318,210 | $ 1,584,541,340.50 |
| AAJ | Aruma Resources Ltd | 0.006 | -14 | 300,000 | $ 11,125,897.33 |
| CPH | Creso Pharma Ltd | 0.215 | -14 | 26,427,996 | $ 172,104,604.25 |
| PIN | Pinchme.Com | 0.05 | -14 | 36,285 | $ 8,201,594.11 |
| CNB | Carnaby Resource Ltd | 0.31 | -13 | 1,065,204 | $ 41,792,516.29 |
| JAT | Jatcorp Limited | 0.028 | -13 | 13,350,605 | $ 32,928,165.98 |
| PUA | Peak Minerals Ltd | 0.028 | -13 | 2,336,360 | $ 17,526,412.67 |
| TYX | Tyranna Res Ltd | 0.007 | -13 | 1,553,894 | $ 10,258,885.34 |
| TRT | Todd River Res Ltd | 0.049 | -13 | 4,587,060 | $ 27,069,768.66 |
