ASX stocks have taken a breather today after a strong rally in August. (Pic: Getty)
ASX Small Cap Lunch Wrap: Who’s getting a cold shower today?
News
share
After a bumper month in August, local markets have hit the brakes to start September.
Heading into midday trade, the ASX was down over 1.5 per cent and on track for its worst intra-day fall since June 25.
It was a similar story on the Small Ords, with sharper falls seen across most of the red-hot BNPL sector.
The talk at the big end of town was QBE Insurance (ASX:QBE), which swiftly sacked its CEO Pat Regan following a board investigation into a complaint made by a female employee.
The morning selloff followed a negative session on Wall Street and precedes a key announcement from the RBA scheduled for 2:30pm EST.
Markets will be watching for any change in guidance (no matter how small) after an important shift in strategy from the US Fed last week.
Gold is holding steady at $US1,980 ($2,677) an ounce, and the Aussie dollar still looks keen to break higher — it was well-supported in morning trade and is threatening to push further above its multi-year high of US74c.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Tuesday September 1:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| XPE | XPED | 0.002 | 100.00% | $1.8M |
| CAE | Cannindah Resources Ltd | 0.031 | 55.00% | $6.2M |
| DHR | Dark Horse Resources | 0.003 | 50.00% | $8.1M |
| GGX | Gas2grid Ltd | 0.003 | 50.00% | $2.8M |
| SUH | Southern Hemisphere Mining | 0.043 | 43.33% | $6.2M |
| FGL | Frugl | 0.047 | 38.24% | $4.6M |
| RXH | Rewardle Holdings Ltd | 0.011 | 37.50% | $5.8M |
| OAR | Oakdale Resources Ltd | 0.012 | 33.33% | $17.9M |
| PSL | Paterson Resources | 0.004 | 33.33% | $15.4M |
| JAY | Jayride Group | 0.22 | 29.41% | $23.2M |
| 3DP | Pointerra | 0.345 | 27.78% | $233.5M |
| TMG | Trigg Mining | 0.21 | 19.44% | $12.2M |
| SRZ | Stellar Resources Ltd | 0.019 | 18.75% | $8.4M |
| SPL | Starpharma Holdings | 1.77 | 16.83% | $646.4M |
| CGN | Crater Gold Mining Ltd | 0.014 | 16.67% | $17.2M |
| ENR | Encounter Resources Ltd | 0.155 | 14.81% | $43.5M |
| NAE | New Age Exploration Ltd | 0.008 | 14.29% | $7.1M |
| ESH | Esports Mogul Asia Pacific Ltd | 0.016 | 14.29% | $32.7M |
| PWN | Parkway Minerals | 0.008 | 14.29% | $13.7M |
| LIT | Lithium Australia NL | 0.008 | 14.29% | $38.6M |
Cannindah Resources (ASX:CAE) was among the leaders after announcing it had acquired 100 per cent of the shares in Piccadilly Gold Mine Holdings Ltd.
The company said Picadilly’s gold project “has been described as being similar to the multi-million ounce Kidston gold project in North Queensland”.
The share-based acquisition was approved by Cannindah’s lender. “We are very excited given the current gold price to be planning the exploration of this potentially company-making target,” the company said.
Also rising strongly was Frugl (ASX:FGL), formerly known as Family Insights, which jumped after the company said it had completed development for a new and improved version of its grocery comparison app.
And geospatial mapping company Pointerra (ASX:3DP) continued its recent tear after announcing strong sales momentum into the US market.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Tuesday September 1:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| OEX | Oilex | 0.001 | -50.00% | $4.2M |
| DDD | 333D | 0.001 | -33.33% | $16.6M |
| ECT | Environmental Clean | 0.001 | -33.33% | $2.4M |
| RFN | Reffind Ltd | 0.002 | -33.33% | $2.5M |
| MNW | Mint Payments | 0.017 | -26.09% | $19.3M |
| NCZ | New Century Resources | 0.155 | -18.42% | $148.8M |
| GLA | Gladiator Resources | 0.003 | -16.67% | $4.7M |
| JXT | Jaxsta | 0.03 | -16.67% | $7.4M |
| RTE | Retech Tech | 0.32 | -15.79% | $74.5M |
| PGC | Paragon Care Ltd | 0.175 | -14.63% | $59.1M |
| SRY | Story-I | 0.012 | -14.29% | $4.4M |
| ASH | Ashley Services Group Ltd | 0.365 | -13.10% | $52.6M |
| ROO | Roots Sustainable Agricultural DRC | 0.041 | -12.77% | $13.9M |
| A1G | African Gold Ltd | 0.14 | -12.50% | $8.4M |
| GWR | GWR Group | 0.21 | -12.50% | $53.5M |
| OPL | Opyl | 0.14 | -12.50% | $4.2M |
| ICT | iCollege Ltd | 0.046 | -11.54% | $24.2M |
| WKT | Walkabout Resources | 0.195 | -11.36% | $68.1M |
