It’s not the first time the US government is on the brink of default, but it’s the first time such a radical solution has been proposed.
The Biden administration is considering utilising legislation to mint a platinum coin with a value of $1 trillion into the Treasury to avoid a default.
While Treasury Secretary Janet Yallen has said she was opposed to the idea some Democratic lawmakers, including House speaker Nancy Pelosi, have advocated for it.
There’s also been debate about who or what should go on the face of the coin and how such a coin would be prevented from falling into the wrong hands.
The ASX 200 is up as at 12pm – by 0.62% – but it remains to be seen if the rally will last throughout the afternoon.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for October 7 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
Code | Name | Price | % Change | Volume |
---|---|---|---|---|
YPB | YPB Group Ltd | 0.0035 | 75 | 149275497 |
STM | Sunstone Metals Ltd | 0.03 | 30 | 118385998 |
BAS | Bass Oil Ltd | 0.0025 | 25 | 4405683 |
CCE | Carnegie Cln Energy | 0.0025 | 25 | 1001335 |
PRO | Prophecy Internation | 0.72 | 24 | 869993 |
AO1 | Assetowl Limited | 0.006 | 20 | 100002 |
JAY | Jayride Group | 0.26 | 18 | 44087 |
MTB | Mount Burgess Mining | 0.007 | 17 | 1066389 |
CV1 | Cv Check Ltd | 0.19 | 15 | 708499 |
EFE | Eastern Iron | 0.038 | 15 | 27789005 |
ADV | Ardiden Ltd | 0.0115 | 15 | 1839922 |
KIN | KIN Min NL | 0.12 | 14 | 4063350 |
AEE | Aura Energy | 0.25 | 14 | 3952384 |
DLC | Delecta Limited | 0.0125 | 14 | 13357728 |
MOB | Mobilicom Ltd | 0.063 | 13 | 172918 |
AUH | Austchina Holdings | 0.009 | 13 | 12696483 |
GGE | Grand Gulf Energy | 0.036 | 13 | 2288028 |
VKA | Viking Mines Ltd | 0.018 | 13 | 2751063 |
CLT | Cellnet Group | 0.064 | 12 | 126774 |
SMI | Santana Minerals Ltd | 0.19 | 12 | 387600 |
EMP | Emperor Energy Ltd | 0.058 | 12 | 2122743 |
ADX | ADX Energy Ltd | 0.01 | 11 | 4203763 |
Sunstone Metals (ASX:STM) reported assay results from its El Palmar gold-copper prospect in Ecuador.
Uranium play Delecta (ASX:DLC) told shareholders assays from last month’s exploration program exceeded lab thresholds even though these resulted in a delay in processing, requiring a laboratory which could handle the elevated levels.
In tech, Prophecy International (ASX:PRO) signed on US health insurer Humana as a client in a deal that will see it net at least $1.784 million in annualised recurring revenue.
And CV Check (ASX:CV1) rose with a financial update.
ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks for October 7 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
Code | Name | Price | % Change | Volume |
---|---|---|---|---|
CGB | Cann Global Limited | 0.003 | -33 | 5544333 |
OAK | Oakridge | 0.0015 | -25 | 3000001 |
ANL | Amani Gold Ltd | 0.0025 | -17 | 41535407 |
LNY | Laneway Res Ltd | 0.005 | -17 | 11912752 |
KEY | KEY Petroleum | 0.003 | -14 | 500000 |
TYX | Tyranna Res Ltd | 0.006 | -14 | 328801 |
AJL | AJ Lucas Group | 0.033 | -13 | 292152 |
CZL | Cons Zinc Ltd | 0.021 | -13 | 796666 |
WSR | Westar Resources | 0.15 | -12 | 236255 |
TIG | Tigers Realm Coal | 0.024 | -11 | 7250254 |
XST | Xstate Resources | 0.004 | -11 | 129882 |
PGD | Peregrine Gold | 0.36 | -10 | 42000 |
DXN | DXN Limited | 0.009 | -10 | 3103503 |
EQE | Equus Mining Ltd | 0.009 | -10 | 300000 |
LSR | Lodestar Minerals | 0.009 | -10 | 589043 |
NCR | Nucoal Resources Ltd | 0.009 | -10 | 411980 |
ELE | Elmore Ltd | 0.019 | -10 | 5353145 |
SHH | Shree Minerals Ltd | 0.01 | -9 | 1779159 |
KMT | Kopore Metals Ltd | 0.021 | -9 | 433857 |
SMR | Stanmore Resources | 1.07 | -9 | 156212 |
RBR | RBR Group Ltd | 0.0055 | -8 | 222222 |
ICG | Inca Minerals Ltd | 0.115 | -8 | 281999 |