Victoria has just experienced its biggest earthquake in 24 years with a magnitude 6 quake hitting Mansfield early this morning.
We’re used to fires and floods, but earthquakes are “right out of leftfield” according to Mansfield mayor Mark Holcombe.
“We don’t have earthquakes, that I am aware of, none of the locals I spoke to this morning had that experience with earthquakes here before, so it is one right out of leftfield,” he said.
And speaking of straight out of leftfield – judging by this pitch Connor McGregor should probably stick to MMA.
To Markets …
The ASX 200 swung into the green today, and was up 36.80 points or 0.51% at midday.
That followed news that embattled Chinese property developer Evergrande has reportedly reached a deal with its bondholders, and will make an interest payment tomorrow.
On Tuesday, US Federal Reserve officials kicked off a two-day monetary policy meeting that will be scrutinized by investors for insight into the central bank’s plans for its bond purchases and interest rates.
“We have had a great run but it is going to get tougher from here, with lower returns and more volatility,” said David Donabedian, chief investment officer at CIBC Private Wealth.
Global oil prices fell ~2% overnight and base metals like copper and zinc saw similar losses as concerns mount over the possible fallout from the Evergrande debt crisis.
Iron ore slumped another 6.7% and is now trading at US$94 per tonne, a 16-month low.
Major iron ore miners such as BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) both rose in morning but remain near the lowest levels of the year. Fortescue Metals (ASX:FMG) is 2.7% higher but still at the lowest levels in over a year.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for September 22 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
Code Name Price % Change Volume GMD Genesis Minerals 0.17 133 150273793 OAK Oakridge 0.0015 50 3538430 NWE Norwest Energy NL 0.0285 36 245759414 PNN PepinNini Minerals 0.39 30 5856220 WMG Western Mines 0.23 24 2212839 GGE Grand Gulf Energy 0.032 23 4894235 CR1 Constellation Res 0.38 19 83666 EGL Environmental Group 0.17 17 1845508 LKE Lake Resources 0.6025 17 18958744 AUH Austchina Holdings 0.007 17 997296 ERL Empire Resources 0.014 17 6347093 KEY KEY Petroleum 0.0035 17 300000 ID8 Identitii Limited 0.25 16 1108156 TPD Talon Energy Ltd 0.011 16 107250364 CGB Cann Global Limited 0.004 14 3104325 GES Genesis Resources 0.016 14 1404459 AWJ Auric Mining 0.16 14 854944 X2M X2M Connect Limited 0.285 14 2259164 NMR Native Mineral Res 0.25 14 81983 TCO Transmetro Corp. Ltd 0.95 13 1794 CLA Celsius Resource Ltd 0.026 13 1373852 CVS Cervantes Corp Ltd 0.009 13 1138215 IQ3 Iq3Corp Limited 0.14 12 5305
Former Saracen/ Northern Star (ASX:NST) boss Raleigh Finlayson will cornerstone a $20.8m funding package for Genesis Minerals (ASX:GMD), which will also include Northern Star itself and former FMG chief exec Neville Power.
Pepinnini Minerals (ASX:PNN) says blending brines from its ‘Rincon’ and ‘Incahuasi’ salares in Argentina creates a super high lithium concentration of 8,500 mg/kg.
And under the new agreement, Lilac Solutions will contribute tech, engineering teams, and an on-site demonstration plant to earn a maximum 25% in Lake Resources’ (ASX:LKE) advanced Kachi lithium project.
ASX SMALL CAP LOSERS
Code Name Price % Change Volume NPM Newpeak Metals 0.001 -50 854657 EN1 Engage:Bdr Limited 0.003 -25 6089222 WOO Wooboard Tech Ltd 0.0015 -25 510947 T3D 333D Limited 0.002 -20 1071318 GWR GWR Group Ltd 0.115 -18 2495115 BLU Blue Energy Limited 0.052 -17 7711627 CCE Carnegie Cln Energy 0.0025 -17 10124531 VPR Volt Power Group 0.0025 -17 61714 AQC Auspaccoal Ltd 0.15 -14 5000 TYX Tyranna Res Ltd 0.006 -14 94888 DDD 3D Resources Limited 0.0035 -13 785000 LNU Linius Tech Limited 0.024 -11 2515861 AEV Avenira Limited 0.008 -11 111135 CZR CZR Resources Ltd 0.008 -11 600000 RIM Rimfire Pacific 0.008 -11 1063359 ROO Roots Sustainable 0.008 -11 535164 CRL Comet Resources 0.026 -10 31715269 JPR Jupiter Energy 0.044 -10 622916 HGO Hillgrove Res Ltd 0.053 -10 1586205 SIH Sihayo Gold Limited 0.009 -10 881350 AQX Alice Queen Ltd 0.01 -9 5364208 CT1 Constellation Tech 0.01 -9 2350000 DDT DataDot Technology 0.01 -9 4276379
GWR Group (ASX:GWR) dropped 18% today after a production halt at its C4 iron ore mine in Western Australia off the back of the low iron ore prices.
The company has halted mining operations from the 19th September for 30 days, however the mine will be left in a ‘production ready’ state with around 315,500 of ore either on the ROM pad, crushed and stockpiled ready for transport to port or blasted in the pit and ready for digging.
“It is important to note GWR remains in a strong position to resume operations as the mine will be left in a production ready state in order to take advantage of a recovery in iron ore prices,” GWR chairman Gary Lyons said.