March got off to a rough start. ASX small caps suffered their worst week since October and the Small Ords Index fell into the red on the year.

But local markets shook off the Monday blues to post strong gains in morning trade today, after US stocks ripped higher into the close on Friday night.

More stimmy (stimulus) cheques are in the post, after President Joe Biden’s $US1.9 trillion COVID relief bill made its way through the US senate over the weekend.

Once approved in Congress on Tuesday, the package will provide an extra $US1,400 for all individuals earnings less than $US75,000.

(We haven’t had time to superimpose Biden’s head on the Jerome Powell money-printing gif, but here’s the original).

Major economies are now emerging out of the pandemic, which is good. But investors are weighing that outlook against the prospect of higher bond yields and a jump in inflation, which could be bad.

For now, it’s more of the former as gains on the ASX were led by the big end of town, where the ASX200 rose more than 1.6 per cent.

After slumping by 4.4 per cent through Thursday and Friday last week, the ASX microcap Emerging Markets Index was around 0.9 per cent higher into midday trade.

US-dollar gold is holding above the $US1,700 an ounce mark after briefly falling through it last week, while Bitcoin is holding above $US51,000.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Thursday March 8:

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

CODE NAME PRICE % CHANGE VOLUME MARKET CAP
ANW Aus Tin Mining 0.0015 50 5,116,467 $10,062,318
APG Austpac Resources NL 0.0015 50 1,300,000 $3,165,663
CLZ Classic Min Ltd 0.0015 50 12,590,333 $17,556,867
MLS Metals Australia 0.003 50 3,600,000 $8,381,807
DTM Dart Mining NL 0.24 37 11,598,067 $17,490,458
XTC Xantippe Res Ltd 0.002 33 5,765,055 $6,111,847
ASN Anson Resources Ltd 0.086 28 27,166,756 $59,888,462
BPH BPH Energy Ltd 0.13 24 18,462,128 $69,816,536
DAV Davenport Resources 0.099 22 6,568,272 $34,274,869
AJL AJ Lucas Group 0.04 21 1,895,139 $39,477,459
XST Xstate Resources 0.0145 21 36,913,875 $32,275,050
LSR Lodestar Minerals 0.012 20 1,819,613 $10,350,283
VIC Victory Mines Ltd 0.003 20 13,621,711 $13,795,632
NC6 Nanollose Limited 0.115 20 99,396 $11,438,313
BGL Bellevue Gold Ltd 0.785 19 3,289,524 $561,790,332
CTO Citigold Corp Ltd 0.013 18 1,641,738 $29,927,405
VML Vital Metals Limited 0.081 17 91,126,766 $184,553,929
ZEU Zeus Resources Ltd 0.036 16 2,136,721 $5,584,650
PEC Perpetual Res Ltd 0.095 16 970,439 $38,993,329
HMX Hammer Metals Ltd 0.115 15 800,562 $75,008,679
RCP Redbank Copper Ltd 0.115 15 1,983,075 $51,565,073
SHE Stonehorse Energy Lt 0.023 15 6,501,141 $9,900,919

 

Among stocks with announcements, Dart Mining (ASX:DTM) led the pack after announcing a drilling program had intersected high-grade gold, silver and copper mineralisation at its Granite Flat project in north-east Victoria.

It marked the first drilling program at Granite Flat for 20 years, DTM said. Chairman James Chirnside also flagged the “wider potential of the prospect”, with “numerous long, lower grade, copper and gold intersections over an extensive area”.

It was a resources focus at the small cap end of town to start the week, as five other companies landed a spot on the morning winner’s list following new announcements — all of them explorers. The full morning resources wrap is here.

LOSERS

Here are the best performing ASX small cap stocks at 12pm Thursday March 8:

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

CODE NAME PRICE % CHANGE VOLUME MARKET CAP
MEM Memphasys Ltd 0.06 -35 10,113,068 $69,899,197
ECT Env Clean Tech Ltd. 0.001 -33 633,333 $14,401,549
GAL Galileo Mining Ltd 0.25 -25 2,731,271 $47,938,904
CCE Carnegie Cln Energy 0.003 -25 63,828,428 $50,992,346
NRX Noronex Limited 0.12 -20 2,021,890 $17,977,718
XPE Xped Limited 0.002 -20 4,000,000 $7,973,232
TTA TTA Holdings Ltd 0.022 -12 100,000 $3,435,585
VXR Venturex Resources 0.315 -11 8,572,568 $141,257,750
ARO Astro Resources NL 0.004 -11 250,000 $13,480,619
CAG Caperangeltd 0.18 -10 20,368 $18,981,660
AEV Avenira Limited 0.009 -10 3,685,240 $8,628,528
EN1 Engage:Bdr Limited 0.0045 -10 5,451,532 $12,242,857
RDG Res Dev Group Ltd 0.04 -9 37,500 $123,645,116
SUP Superior Lake Res 0.15 -9 28,641 $27,111,341
MAN Mandrake Res Ltd 0.155 -9 4,906,570 $56,881,850
SRK Strike Resources 0.16 -9 252,584 $43,248,497
BUX Buxton Resources Ltd 0.068 -8 21,608 $10,068,102
MOB Mobilicom Ltd 0.071 -8 61,414 $19,861,127
NAE New Age Exploration 0.012 -8 3,300,000 $15,854,058
TML Timah Resources Ltd 0.048 -8 10,443 $4,768,102
ARE Argonaut Resources 0.013 -7 3,051,904 $40,780,200
SPQ Superior Resources 0.013 -7 223,349 $19,279,030