It looks like Brexit and a lack of truck drivers in the UK are having an impact on all kinds of supply chains – even MDMA.
“[The shortage] could certainly be a result of the reduction of HGVs carrying goods in from Europe, where illegal goods would usually be concealed amongst legal products,” Release executive director Niamh Eastwood said.
Apparently MDMA producers in the Netherlands probably won’t see the UK as profitable enough until festival and clubs return at their usual scale – and even then the supply chain issues remain.
“Like many other goods that are imported into the UK, we are seeing the supply chain for some illicit substances affected, although as this is an unregulated market it is hard to pin it down,” Eastwood said.
In the meantime, illicit drug suppliers are prioritising more lucrative drugs like cocaine and heroin.
To Markets …
In a heavy start to the week, the ASX 200 was down 51.20 points or 0.69% at midday today to 7,471.20.
Financials, energy and healthcare sectors lead declines while only IT is improving.
Global oil markets fell up to 1% on Friday, with the weaker-than-expected US jobs report raised doubts about the economic recovery, and therefore demand for oil.
Around 93% of daily crude output in the Gulf of Mexico remains suspended due to the ongoing impacts from Hurricane Ida.
Iron ore rose by US$5.35 a tonne or 3.8% to US$145.05 a tonne, with Fortescue Metals (ASX:FMG) down 8.6% in early trade as it trades ex-dividend today for its $2.11/share final dividend.
This is double last year’s payment, is its largest payment ever and is ~10% of its share price.
The gold futures price rose by US$22.20 an ounce or 1.2% to U$1,833.70 an ounce on Friday, with spot gold trading near US$1,826 an ounce.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for September 6 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
Code Name Price % Change Market Cap CLZ Classic Min Ltd 0.0015 50 $ 22,369,104.43 GGE Grand Gulf Energy 0.0355 48 $ 9,209,987.47 OEX Oilex Ltd 0.004 33 $ 17,065,291.07 WOO Wooboard Tech Ltd 0.002 33 $ 5,733,244.11 EFE Eastern Iron 0.017 31 $ 9,692,075.43 PAM Pan Asia Metals 0.66 31 $ 27,097,615.22 MMI Metro Mining Ltd 0.023 28 $ 44,073,213.26 AUH Austchina Holdings 0.007 27 $ 9,886,383.99 TEM Tempest Minerals 0.025 25 $ 5,895,826.12 PAK Pacific American Hld 0.021 24 $ 5,415,943.30 ACB A-Cap Energy Ltd 0.077 22 $ 54,928,746.56 VAL Valor Resources Ltd 0.018 20 $ 44,232,471.27 AUA Audeara 0.12 20 $ 6,394,139.00 ID8 Identitii Limited 0.24 20 $ 30,415,357.00 EME Energy Metals Ltd 0.275 20 $ 48,227,161.76 EGL Environmental Group 0.125 19 $ 29,555,504.90 HRZ Horizon 0.125 19 $ 59,637,396.00 CXU Cauldron Energy Ltd 0.044 19 $ 16,871,981.94 KIS King Island 0.2 18 $ 69,521,989.94 AZY Antipa Minerals Ltd 0.055 17 $ 147,499,548.31 ESH Esports Mogul Ltd 0.007 17 $ 17,347,345.15 ATC Altech Chem Ltd 0.064 16 $ 70,756,660.32 AGE Alligator Energy 0.052 16 $ 125,260,814.75
The biggest small cap winner today was Classic Minerals (ASX:CLZ) up 50% on no news.
That was followed by Grand Gulf Energy (ASX:GGE) up 48%, Oilex Ltd (ASX:OEX) up 33% and Wooboard Technologies (ASX:WOO) also up 33% – all on no news.
Then there was Eastern Iron (ASX:EFE) up 31% off the back of non-binding memorandum of understanding (MOU) with Ya Hua International Investment and Development Co. Ltd (Yahua) to acquire and develop lithium projects.
The companies will establish a joint venture, and will work together to develop the Trigg Hill lithium tanalum project in Western Australia – once acquired.
Plus, Yahua will have first right of refusal for product offtake from any of the JV projects including the Trigg Hill Project.
And Pan Asia Metals (ASX:PAM) also rose 31% after announcing it completed a $6 million placement and plans to offer a share purchase plan to shareholders to raise a further $2 million.
The company will use the funds to complete infill and extensional drilling and continue technical and economic studies as part of its plans to deliver maiden mineral resource and scoping study at the Reung Kiet lithium project.
Funds will also be used to begin initial exploration at the Kata Thong geothermal lithium and hard rock lithium project.
ASX SMALL CAP LOSERS
Code Name Price % Change Market Cap OAK Oakridge 0.001 -33 $ 5,158,939.38 ANL Amani Gold Ltd 0.0015 -25 $ 24,773,993.49 NPM Newpeak Metals 0.0015 -25 $ 13,654,870.31 PUR Pursuit Minerals 0.047 -20 $ 54,693,821.04 VIC Victory Mines Ltd 0.002 -20 $ 16,375,631.93 BBT Bluebet Holdings Ltd 2.01 -19 $ 494,270,833.03 CCE Carnegie Cln Energy 0.0025 -17 $ 44,707,721.13 STM Sunstone Metals Ltd 0.022 -15 $ 57,459,678.80 PDI Predictive Disc Ltd 0.1125 -15 $ 179,075,121.77 LIN Lindian Resources 0.023 -15 $ 20,194,265.82 SCL Schrole Group Ltd 0.009 -14 $ 14,955,287.38 TSC Twenty Seven Co. Ltd 0.003 -14 $ 9,312,848.67 RWD Reward Minerals Ltd 0.13 -13 $ 29,280,403.50 EN1 Engage:Bdr Limited 0.0035 -13 $ 10,211,810.06 ATU Atrum Coal Ltd 0.042 -13 $ 29,282,515.06 CNJ Conico Ltd 0.067 -12 $ 69,643,895.12 CMD Cassius Mining Ltd 0.015 -12 $ 5,194,855.29 LOT Lotus Resources Ltd 0.2075 -12 $ 225,397,134.37 ARC Aust Rural Cap Ltd 0.49 -11 $ 8,188,496.80 DLT Delta Drone Intl Ltd 0.026 -10 $ 8,696,702.70 CGB Cann Global Limited 0.0045 -10 $ 28,627,433.93 ROO Roots Sustainable 0.009 -10 $ 5,397,839.31 APC Aust Potash Ltd 0.099 -10 $ 71,491,233.88
The biggest loser today was Oakridge (ASX:OAK) down 33% on no news.
It was followed by Amani Gold (ASX:ANL) and Newpeak Metals (ASX:NPM) both of which dropped 25% on no news.
Pursuit Minerals (ASX:PUR) dropped 20% after releasing a progress update for its diamond drilling program at the Phil’s Hill prospect – which is within the known range of conductance for the Gonneville PGE-nickel-copper discovery.
The company has paused drilling to conduct down-hole EM (DHEM) surveys to determine the orientation of the conductive plates in order to re-focus the ongoing drilling program.
And Victory Mines (ASX:VIC) was also down 20% on no news.