ASX Small Cap Lunch Wrap: Who’s dreaming of the Pacific today?

Last week was a big week.

And with this year’s Melbourne Cup in the books, we wouldn’t blame you for mentally checking out of 2020 and dreaming of a Pacific island retreat (see you after Australia Day).

But the markets never sleep. That includes auction markets, where an iconic black Australian opal will go under the hammer later this month where it’s expected to fetch around $700k.

Weighing in at 443.56 carats, it’s known as ‘The Pacific’ because of its vibrant blue colour.

The seller is Lightning Ridge opal miner Gerald O’Brien, who’s set to close his trade on a longterm buy-and-hold strategy after first discovering the opal in 1989.

Speaking of buying, there was plenty of it on the ASX this morning as a semblance of US political clarity emerged over the weekend.

Joe Biden has made his presidential acceptance speech, although Donald Trump is yet to concede.

But a potential Goldilocks outcome in the election washout has prompted a surge in risk appetite, with stocks climbing across the board.

The ASX Emerging Companies Index is holding three per cent higher — on track for its biggest intraday rally since July 21.

‘Store of value’ assets are also outperforming, with gold back above $US1,950 an ounce while Bitcoin is on the march.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday November 9:

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

Diatreme Resources (ASX:DRX) turned heads at the opening bell, ripping higher before going into a trading halt at 10:58am AEDT pending a further announcement.

In a quarterly cashflow update on October 30, DRX said it was advancing environmental approvals for its Galalar silica project in Queensland, after initial drilling programs in August highlighted “expansion potential”, the company said.

Also on the winner’s list was digital health company Alcidion (ASX:ALC), which continues to make headway with the UK’s National Health Service for the deployment of its digitised patient data platform.

The company announced a new deal with the regional South Tees hospital network in North-East England, with a total contract value of $9.5m.

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday November 9:

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