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ASX Small Cap Lunch Wrap: Who’s getting dumped by a second wave today?
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One could argue global stocks have been fairly dismissive of the lingering health threat posed by COVID-19 over the past few months.
But the numbers don’t lie, and record daily highs for new positive cases across a number of US states has weighed on sentiment in morning trade.
Texas is shaping up as the latest epicentre, with more than 1,000 new cases recorded in what governor Greg Abbott called a “major outbreak”.
And in terms of the key variable in framing pandemic risk — whether or not the health system is becoming overwhelmed — intensive care beds at Houston hospitals are now at 97 per cent capacity.
The S&P500 fell by 2.6 per cent, which led into a rough open for local markets as the ASX200 slid down by almost 2 per cent while the Small Ords Index fell closer to 2.5 per cent.
Meanwhile, Qantas turned heads with the announcement that it will lay off 6,000 staff and look to raise $1.9bn in equity capital as part of a three-year COVID-19 strategy.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Thursday June 25:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| NME | Nex Metals Exploration | 0.165 | 106.25% | $15.4M |
| CLZ | Classic Minerals Ltd | 0.002 | 100.00% | $9.4M |
| MCT | Metalicity | 0.025 | 78.57% | $34.9M |
| MHC | Manhattan | 0.021 | 50.00% | $22.5M |
| CAD | Caeneus Minerals | 0.003 | 50.00% | $10.4M |
| KMT | Kopore Metals | 0.007 | 40.00% | $4.5M |
| BLZ | Blaze International Ltd | 0.02 | 33.33% | $4.2M |
| VRC | Volt Resources | 0.025 | 25.00% | $47.5M |
| WWI | West Wits Mining Ltd | 0.015 | 25.00% | $15.1M |
| RDS | Redstone Resources | 0.01 | 25.00% | $4.7M |
| MTB | Mount Burgess Mining NL | 0.003 | 25.00% | $1.0M |
| RBL | Redbubble Ltd | 1.97 | 25.48% | $520.3M |
| MSR | Manas Resources Ltd | 0.006 | 20.00% | $15.9M |
| SRI | Sipa Resources Ltd | 0.06 | 20.00% | $8.5M |
| THR | Thor Mining DRC | 0.006 | 20.00% | $4.5M |
| HNR | Hannans | 0.006 | 20.00% | $11.9M |
| TSO | Tesoro Resources | 0.074 | 17.46% | $32.3M |
| STM | Sunstone Metals | 0.007 | 16.67% | $15.5M |
| FFG | Fatfish Blockchain | 0.007 | 16.67% | $5.7M |
| CLA | Celsius Resources | 0.014 | 16.67% | $12.0M |
| ARL | Ardea Resources | 0.295 | 15.69% | $34.6M |
Two more gold explorers came in top of the pops this morning, as Nex Metal Exploration (ASX:NME) and Metalicity (ASX:MCT) both ripped higher in morning trade.
The catalyst was a set of “spectacular, near-surface, high-grade drilling results” at the pair’s joint venture Kookynie project in WA’s Eastern Goldfields.
All but one of the 11 drill holes intersected significant gold mineralisation, with a top result of 4m at 16.3 grams per tonne (g/t) gold from 42m, including 3m at 20.7g/t gold.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Thursday June 25:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| BHD | Benjamin Hornigold | 0.22 | -69.01% | $5.3M |
| IKW | Ikwezi Mining Ltd | 0.001 | -50.00% | $8.1M |
| VPR | Voly Power Group | 0.001 | -50.00% | $9.2M |
| ROG | Red Sky Energy | 0.001 | -33.33% | $2.4M |
| ESE | Esense-Lab | 0.012 | -29.41% | $2.3M |
| SUD | Suda Pharmaceuticals | 0.03 | -28.57% | $6.0M |
| NCL | Netccentric Ltd | 0.026 | -27.78% | $6.8M |
| SRZ | Stellar Resources Ltd | 0.006 | -25.00% | $2.7M |
| CE1 | Calima Energy | 0.004 | -20.00% | $10.8M |
| SBR | Sabre Resources Ltd | 0.002 | -20.00% | $1.7M |
| BMG | BMG Resources Ltd | 0.004 | -20.00% | $2.7M |
| FFR | Firefly Resources Ltd | 0.074 | -17.78% | $7.2M |
| SVA | Simavita | 0.014 | -17.65% | $9.6M |
| TKM | Trek Metals | 0.028 | -17.65% | $1.5M |
| HWK | Hawkstone Mining | 0.01 | -16.67% | $10.6M |
| AQC | Australian Pacific Coal | 0.10 | -16.67% | $5.1M |
| RDN | Raiden | 0.005 | -16.67% | $2.2M |
| TMX | Terrain Minerals Ltd | 0.005 | -16.67% | $3.6M |
| 1AD | Adalta | 0.081 | -14.74% | $13.3M |
| SRY | Story-I | 0.012 | -14.29% | $4.4M |
After almost two years on the sidelines, investment fund Benjamin Hornigold (ASX:BHD), which is named after an 18th-century pirate, rejoined the ASX boards and fell by around 70 per cent.
It followed a market update yesterday from the company’s board, which took control of Benjamin Hornigold last year and began the process of repatriating company funds from various investments.
The company now has $7.56m in the bank and the board said there “remains potential for the recovery of further sums”.
