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ASX Small Cap Lunch Wrap: Who’s going back to the drawing board today?
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Momentum in global markets has slowed through the middle of September, following a strong post-COVID rally which peaked in August.
And as investors go back to the drawing board, so is the Canadian town of Asbestos, which is yet to pull the trigger on a name-change after residents baulked at four new suggestions.
Before it became a public health hazard in the 1970s, asbestos was the town’s largest export and a source of pride.
But the negative connotations are now too much to ignore, and some residents say it’s hurting business.
While locals aren’t happy with the choice of suggestions, the town has committed to changing the name next month, with voting rights available for all residents aged 14 and over.
To markets, and the ASX has made a subdued start to the week after US stocks fell by more than one per cent on Friday night.
The ASX200 was around 0.5pc lower into midday trade, with similar falls for the Emerging Markets Index which posted a 5.2 per cent rally over the previous seven trading days.
Elsewhere the Aussie dollar is holding above US73c, while benchmark iron ore prices rebounded to climb back above $US125 per tonne.
Gold is holding steady at around $US1,950 an ounce while copper prices rose to two-year highs on strong demand out of China.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Monday September 21:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| AUH | Austchina Holdings | 0.008 | 100 | $ 6,536,497.44 |
| COY | Coppermoly Limited | 0.028 | 100 | $ 29,780,995.85 |
| XTC | Xantippe Res Ltd | 0.0045 | 50 | $ 12,223,693.21 |
| XPE | Xped Limited | 0.003 | 50 | $ 4,482,155.06 |
| ENX | Enegex Limited | 0.067 | 40 | $ 4,823,987.38 |
| BSM | Bass Metals Ltd | 0.004 | 33 | $ 10,445,027.21 |
| MSI | Multistack International | 0.008 | 33 | $ 673,823.54 |
| TPD | Talon Petroleum Ltd | 0.004 | 33 | $ 13,055,368.58 |
| DWS | DWS Ltd | 1.17 | 31 | $ 118,648,195.20 |
| VR1 | Vection Technologies | 0.087 | 28 | $ 56,962,027.50 |
| SVM | Sovereign Metals | 0.37 | 28 | $ 114,328,892.69 |
| ELT | Elementos Limited | 0.005 | 25 | $ 15,533,018.68 |
| LCY | Legacy Iron Ore | 0.005 | 25 | $ 31,236,192.59 |
| TTM | Titan Minerals | 0.155 | 24 | $ 137,859,031.75 |
| CWL | Consol Financial Hld | 0.021 | 24 | $ 2,156,072.57 |
| PG1 | Pearl Global Ltd | 0.075 | 23 | $ 18,181,824.03 |
| DVL | Dorsavi Ltd | 0.028 | 22 | $ 5,322,833.05 |
| JAL | Jameson Resources | 0.14 | 22 | $ 34,883,167.35 |
| LKE | Lake Resources | 0.073 | 22 | $ 46,627,717.44 |
| ALY | Alchemy Resource Ltd | 0.023 | 21 | $ 12,772,625.61 |
$30m explorer Coppermoly (ASX:COY), which operates the Mt Nakru copper-zinc project in Papua New Guinea, has continued its torrid run higher on no news.
The stock posted consecutive strong returns at the end of last week, before getting a Price Query from the ASX where the company advised it wasn’t aware of any information that gave rise to such a move.
COY shares followed that up by doubling in morning trade today, which saw the stock rise to 2.7c — up from 0.9c at close of trade last Wednesday.
Also on the winner’s list was tech company DWS Ltd (ASX:DWS), which jumped by around 30 per cent on the back of a takeover offer from Indian tech giant HCL Technologies.
The offer was priced at $1.23 per share, a ~37pc premium to DWS’ Friday closing price of 90c.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Monday September 21:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| SAN | Sagalio Energy Ltd | 0.052 | -41 | $ 17,600,771.18 |
| ANL | Amani Gold Ltd | 0.002 | -33 | $ 23,514,590.24 |
| ECT | Env Clean Tech Ltd. | 0.001 | -33 | $ 9,601,032.79 |
| IKW | Ikwezi Mining Ltd | 0.004 | -33 | $ 24,390,000.00 |
| BYE | Byron Energy Ltd | 0.210 | -26 | $ 296,484,104.07 |
| KAS | Kasbah Resources | 0.015 | -25 | $ 2,707,599.04 |
| MNB | Minbos Resources Ltd | 0.002 | -20 | $ 16,256,403.30 |
| MRD | Mount Ridley Mines | 0.002 | -20 | $ 6,706,984.88 |
| RXH | Rewardle Holding Ltd | 0.008 | -20 | $ 5,263,214.88 |
| KPE | Kina Petroleum Corp | 0.750 | -18 | $ 11,554,283.65 |
| MLS | Metals Australia | 0.003 | -17 | $ 10,945,058.33 |
| ROG | Red Sky Energy. | 0.003 | -17 | $ 6,108,549.83 |
| AHL | Ahalife Holdings Ltd | 0.006 | -14 | $ 9,309,919.74 |
| CYQ | Cycliq Group Ltd | 0.003 | -14 | $ 5,879,189.95 |
| YPB | YPB Group Ltd | 0.003 | -14 | $ 10,240,379.15 |
| LPI | Lithium Pwr Int Ltd | 0.190 | -14 | $ 57,863,058.66 |
| GES | Genesis Resources | 0.026 | -13 | $ 23,485,238.82 |
| HRN | Horizon Gold Ltd | 0.410 | -13 | $ 40,923,932.59 |
| FFG | Fatfish Group | 0.014 | -13 | $ 13,046,115.31 |
| KNM | Kneomedia Limited | 0.014 | -13 | $ 14,503,105.04 |
| MRQ | Mrg Metals Limited | 0.007 | -13 | $ 9,873,213.11 |
