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ASX Small Cap Lunch Wrap: Who’s going for the takedown today?
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Amid a health pandemic and soaring stock markets, the wave of global protests against policy brutality are holding steady at the front of the news cycle this week.
Statues in multiple countries are now being toppled. The takedowns include a bust of 17th century slave trader Edward Colston, who ended up at the bottom of the river in the UK town of Bristol. Elsewhere, multiple statues of Christopher Columbus across the US have faced the axe.
Debate has now turned to whether local statues such as those of James Cook or former NSW governor Lachlan Macquarie should also be removed.
On the COVID-19 front, disease-related hospitalisations have risen in California for nine of the past 10 days, while Texas reported its largest increase in daily hospitalisations on Tuesday.
To markets:
After a barnstorming rally in the face of plenty of economic uncertainty, local investors hit the brakes this morning.
The pain was felt more keenly at the big end of town, as the ASX200 slumped almost two per cent while the Small Ords Index suffered a relatively mild 0.4 per cent fall.
It followed the overnight policy announcement from the US Federal Reserve, where Fed chair Jerome Powell discussed the bank’s guidance on the interest rate outlook with this memorable line:
“We’re not thinking about raising rates. We’re not even thinking about thinking about raising rates,” Powell said.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Thursday June 11:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| ROG | Red Sky Energy | 0.002 | 100.00% | $2.4M |
| OEX | Oilex | 0.003 | 50.00% | $11.0M |
| DLC | Delecta Ltd | 0.007 | 40.00% | $4.9M |
| BFC | Beston Global Food Company Ltd | 0.076 | 38.18% | $35.8M |
| RMI | Resource Mining Corporation | 0.008 | 33.33% | $2.4M |
| VMS | Venture Minerals | 0.021 | 31.25% | $17.0M |
| ICU | Isentric Ltd | 0.017 | 30.77% | $4.1M |
| MRQ | MRG Metals Ltd | 0.007 | 27.27% | $8.6M |
| TDO | 3D Oil Ltd | 0.08 | 23.08% | $21.2M |
| NTI | Neurotech Intl | 0.011 | 22.22% | $2.8M |
| LML | Lincoln Minerals Ltd | 0.006 | 20.00% | $3.5M |
| GSM | Golden State Mining | 0.31 | 19.23% | $14.2M |
| ESE | Esense-Lab | 0.019 | 18.75% | $2.9M |
| CTM | Centaurus Metals Ltd | 0.32 | 18.52% | $85.0M |
| TPS | Threat Protect Australia | 0.045 | 18.42% | $10.8M |
| ICN | Icon Energy | 0.013 | 18.18% | $7.8M |
| ACW | Actinogen Medical | 0.033 | 17.86% | $34.6M |
| IVR | Investigator Resources Ltd | 0.02 | 17.65% | $16.9M |
| CNJ | Conico Ltd | 0.007 | 16.67% | $2.7M |
| FFG | Fatfish Internet Group Ltd | 0.007 | 16.67% | $5.7M |
| KMT | Kopore Metals | 0.007 | 16.67% | $4.5M |
| ELX | Ellex Medical Lasters | 0.615 | 16.04% | $88.3M |
Milk supplier Beston Global Food Company (ASX:BFC) was among the winners after announcing the sale of its dairy farms in Mount Gambier, SA to Aurora Dairies for $40.4m in cash.
The deal will give BFC rights to 100 per cent of the dairy supply from those farms for a 10-year period, while also reducing debt and freeing up capital to expand the company’s operations in mozzarella and lactoferrin production.
Resources minnow MRG Metals (ASX:MRQ) also ticked higher after lab results showed “extensive high-grade heavy mineral sand mineralisation” at the company’s Corridor South project in Mozambique.
And 3D Oil (ASX:TDO) also got a boost after finalising a farm-out arrangement to transfer its offshore exploration permit to ConocoPhillips Australia. In return, the company said it will “receive cash payment of $5m within two weeks”.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Thursday June 11:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| ANL | Amani Gold | 0.001 | -33.33% | $6.8M |
| SMI | Santana Minerals Ltd | 0.002 | -33.33% | $5.4M |
| IMC | Immuron Ltd | 0.22 | -26.67% | $38.1M |
| SBR | Sabre Resources Ltd | 0.003 | -25.00% | $2.6M |
| PLL | Piedmont Lithium | 0.1 | -23.08% | $82.6M |
| SHE | Stonehorse Energy | 0.007 | -22.22% | $2.8M |
| AIS | Aeris Resources Ltd | 0.039 | -18.75% | $21.0M |
| SGO | Stream Group Ltd | 0.04 | -18.37% | $8.6M |
| RFX | RedFlow Ltd | 0.024 | -17.24% | $22.9M |
| AFP | AFT Pharmaceuticals | 3.79 | -17.07% | $459.3M |
| OSP | Osprey Medical Inc | 0.011 | -15.38% | $16.7M |
| MWR | MGM Wireless Ltd | 0.12 | -14.29% | $17.0M |
| GEV | Global Energy Ventures | 0.006 | -14.29% | $22.8M |
| PKD | Parkd | 0.026 | -13.33% | $2.0M |
| NUH | Nuheara | 0.015 | -11.76% | $20.4M |
| JXT | Jaxsta | 0.023 | -11.54% | $5.7M |
| OPT | Opthea | 2.72 | -10.82% | $740.2M |
| IXR | Ionic Rare Earths Ltd | 0.008 | -11.11% | $17.3M |
| APV | AppsVillage Australia | 0.165 | -10.81% | $13.8M |
| DCG | Decmil Group | 0.059 | -11.94% | $49.7M |
| CGA | Contango Asset | 0.26 | -10.34% | $12.3M |
| TOE | Toro Energy | 0.009 | -10.00% | $24.7M |
