A massive 30 per cent of Pakistan’s civilian pilots hold bogus licenses and are not qualified to fly, the country’s aviation minister said Wednesday.
262 of Pakistan’s 860 active pilots “did not take the exam themselves” and had paid someone else to sit it on their behalf, Ghulam Sarwar Khan said.
Some of these fake pilots also fly for foreign carriers.
The investigation was sparked by a May plane crash that killed 97 people when the pilots attempted to land without lowering the landing gear.
It’s not just Pakistan, either. In 2015, you could apparently get a pilot’s licence in India after just 35 minutes in the air.
In markets…
European and US share markets lifted on Thursday.
Regulations for the big US banks were rolled back to free up extra capital.
Meanwhile, surging COVID-19 cases has prompted Texas to hit pause on the reopening of the state’s economy.
Global oil prices also rose after Russia said it would cut exports.
The benchmark ASX200 Index is up 0.8 per cent to 5,868.7 points in morning trade but remains slightly down for the week.
The S&P/ASX Emerging Companies Index — 200 Australian microcap companies ranked between 350 to 600 by market cap — was up 2.08 per cent this morning to 1,386.7 points for a weekly gain of 1.7 per cent.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Friday June 26:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
---|
VMG | Vdm Group | 0.002 | 100.00% | $6.9M |
GLA | Gladiator Resources | 0.002 | 50.00% | $2.0M |
CML | Chase Mining | 0.026 | 36.84% | $8.0M |
MLS | Metals Australia | 0.002 | 33.33% | $4.8M |
MRR | Minrex Resources | 0.013 | 30.00% | $2.7M |
BMG | BMG Resources | 0.005 | 25.00% | $3.4M |
RGL | Riversgold | 0.105 | 31.25% | $34.4M |
AZI | Alta Zinc | 0.005 | 25.00% | $11.0M |
FPL | Fremont Petroleum | 0.005 | 25.00% | $10.6M |
AKM | Aspire Mining | 0.105 | 23.53% | $53.3M |
MSG | MCS Services | 0.022 | 22.22% | $4.1M |
RDN | Raiden | 0.006 | 20.00% | $2.6M |
BRK | Brookside Energy | 0.006 | 20.00% | $6.0M |
AGS | Alliance Resources | 0.18 | 20.00% | $32.1M |
AHL | Ahalife Holdings | 0.006 | 20.00% | $4.0M |
TRT | Todd River Resources | 0.025 | 19.05% | $6.2M |
BEE | Broo | 0.019 | 18.75% | $13.2M |
KTA | Krakatoa Resources | 0.038 | 18.75% | $8.5M |
ARN | Aldoro Resources | 0.085 | 19.72% | $4.5M |
HAV | Havilah Resources | 0.13 | 18.18% | $35.2M |
RGH | Retail Food Group | 0.072 | 18.03% | $156.7M |
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Chase Mining (ASX:CML) has hit two zones of massive sulphides in its first drill hole at the Alotta copper-palladium-platinum-nickel project in Canada.
The stock was up +36 per cent in morning trade.
Beleaguered Retail Food Group (ASX:RFG) was up ~20 per cent after customer count continued to improve among its domestic and international franchise networks; albeit below pre-COVID-19 levels.
“RFG expects trading conditions to remain challenging in the foreseeable term and therefore anticipates a continuation of those measures implemented by the group in response to the pandemic to support franchisees,” RFG executive chairman Peter George said.
“That said, there are a number of positive developments within the group’s business that provide optimism for the future.”
Explorers Krakatoa Resources (ASX:KTA) and Aldoro Resources (ASX:ARN) are up about 20 per cent after hitting gold at their respective projects.
And Havilah Resources (ASX:HAV) has secured ~$275,000 from the South Australian government to help accelerate exploration at two projects, sending the stock up 18 per cent.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Friday June 26:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
---|
PNN | Pepinnini Minerals | 0.001 | -33.33% | $1.6M |
ICG | Inca Minerals | 0.001 | -33.33% | $4.1M |
FGO | Flamingo | 0.001 | -33.33% | $1.1M |
GID | GI Dynamics | 0.003 | -25.00% | $2.7M |
RXH | Rewardle Holdings | 0.003 | -25.00% | $1.6M |
CLZ | Classic Minerals | 0.002 | -25.00% | $9.4M |
WML | Woomera Mining | 0.013 | -23.53% | $2.4M |
LAM | Laramide Resources | 0.27 | -22.86% | $57.9M |
NGY | Nuenergy Gas | 0.007 | -22.22% | $10.4M |
CAD | Caeneus Minerals | 0.002 | -20.00% | $7.0M |
OAR | Oakdale Resources | 0.002 | -20.00% | $1.4M |
NME | Nex Metals Exploration | 0.12 | -20.00% | $28.9M |
IXR | Ionic Rare Earths | 0.009 | -18.18% | $23.8M |
CAG | Cape Range | 0.31 | -17.33% | $29.4M |
TRM | Truscott Mining | 0.02 | -15.00% | $2.0M |
IXU | IXUP | 0.013 | -13.33% | $2.9M |
CFO | Cfoam | 0.027 | -12.90% | $5.2M |
CHK | Cohiba Minerals | 0.007 | -12.50% | $6.2M |
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