What goes up must come down. But in the case of space debris from China’s latest rocket launch, it’s just a question of where (and how much of it) there is.
China sent a module into orbit last week which will form part of its new space station. And debris from the 21-tonne rocket booster that launched said module out of the atmosphere is now hurtling back to Earth.
Where will it land? Anyone’s guess at this point, although US space authorities have flagged May 8 (tomorrow) for the debris to re-enter our atmosphere.
Some of it will burn up on re-entry, but the rest is likely to make an almighty splash (somewhere) in the ocean.
Back on land, the ASX is on track to close the week in positive territory, with steady gains across the major indexes.
All the banks and miners are pushing higher, but tech stocks are tanking again with Afterpay (ASX:APT) down another six per cent and on track to lose more than 20 per cent for the week.
The Aussie dollar has shrugged off yesterday’s wobble after China suspended economic dialogue, while gold is back trading above $US1,800 an ounce for the first time since February.
WINNERS
Here are the best performing ASX small cap stocks to 11:30am on Friday, May 7
Swipe or scroll to reveal the full table. Click headings to sort.
CODE COMPANY PRICE % MOVE VOLUME MARKET CAP ANL Amani Gold Ltd 0.0015 50 5,897,145 $10,786,997 KKO Kinetiko Energy Ltd 0.135 23 265,017 $64,698,778 ELT Elementos Limited 0.0205 21 63,431,986 $65,451,077 QFE Quickfee Limited 0.295 18 2,731,480 $50,386,429 WCN White Cliff Min Ltd 0.02 18 27,635,382 $8,792,339 AVW Avira Resources Ltd 0.007 17 794,285 $8,250,240 CCE Carnegie Cln Energy 0.0035 17 7,841,447 $43,267,721 VPR Volt Power Group 0.0035 17 524,000 $27,508,601 NOX Noxopharm Limited 0.565 16 1,533,895 $135,256,571 MGU Magnum Mining & Exp 0.18 16 4,175,494 $65,917,700 OKR Okapi Resources 0.225 15 100,000 $9,594,149 KMT Kopore Metals Ltd 0.03 15 2,743,333 $16,780,111 KEY KEY Petroleum 0.004 14 1,000,000 $6,887,748 PNX PNX Metals Limited 0.008 14 500,000 $25,565,355 TEG Triangle Energy Ltd 0.041 14 5,955,497 $22,347,485 ERW Errawarra Resources 0.215 13 77,942 $6,452,515 DRE Drednought Resources 0.026 13 17,821,574 $56,131,824 SRZ Stellar Resources 0.026 13 6,084,458 $17,390,094 TAR Taruga Minerals 0.088 13 2,935,862 $36,002,967 MGT Magnetite Mines 0.062 13 21,296,443 $158,616,071 CAP Carpentaria Resource 0.045 13 4,079,233 $15,397,626
After a week of big resources winners, Friday gains were topped by an energy stock. Kinetiko Energy (ASX:KKO) rose by more than 20 per cent after signing a deal to acquire the 51 per cent of Afro Energy Ltd it didn’t already own from Badimo Gas.
The deal gives KKO sole ownership of exploration rights for the South Africa-based gas project, and “de-risks the project” by bringing together “all the experience and expertise of the historic joint venture parties”, the company said.
Also rising strongly were tech services company QuickFee (ASX:QFE) which flagged strong growth in its US operations, and iron ore play Magnetite Mines (ASX:MGT) which announced a share placement at a premium to its recent trading price.
LOSERS
Here are the best performing ASX small cap stocks to 11:30am on Friday, May 7
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | % CHANGE | VOLUME | MARKET CAP |
---|---|---|---|---|---|
CLZ | Classic Min Ltd | 0.0015 | -25 | 32,437,968 | $35,114,383 |
LIO | Lion Energy Limited | 0.078 | -20 | 18,370,703 | $23,373,175 |
BAS | Bass Oil Ltd | 0.002 | -20 | 916,665 | $8,355,350 |
NPM | Newpeak Metals | 0.002 | -20 | 568,884 | $14,185,403 |
THR | Thor Mining PLC | 0.015 | -17 | 9,513,751 | $9,052,013 |
CZR | CZR Resources Ltd | 0.011 | -15 | 1,525,566 | $37,089,246 |
DCX | Discovex Res Ltd | 0.006 | -14 | 1,099,900 | $17,980,649 |
DTR | Dateline Resources | 0.003 | -14 | 56,000 | $30,908,773 |
NTL | New Talisman Gold | 0.003 | -14 | 2,375,394 | $9,772,789 |
BPM | BPM Minerals | 0.235 | -13 | 515,910 | $6,682,500 |
AFW | Applyflow Limited | 0.007 | -13 | 1,647,860 | $14,494,830 |
VAL | Valor Resources Ltd | 0.014 | -13 | 22,004,145 | $46,301,303 |
ID8 | Identitii Limited | 0.11 | -12 | 856,976 | $18,973,884 |
IHR | intelliHR Limited | 0.23 | -12 | 670,357 | $72,255,695 |
TRT | Todd River Res Ltd | 0.054 | -11 | 1,495,352 | $33,767,326 |
DW8 | Digital Wine Venture | 0.12 | -11 | 6,679,473 | $224,989,975 |
ADX | ADX Energy Ltd | 0.008 | -11 | 1,100,000 | $22,875,853 |
ARO | Astro Resources NL | 0.004 | -11 | 524,999 | $16,938,869 |
OXX | Octanex Ltd | 0.05 | -11 | 699,739 | $13,598,135 |
FMS | Flinders Mines Ltd | 0.95 | -10 | 3,100 | $178,979,492 |
SBW | Shekel Brainweigh | 0.135 | -10 | 9,500 | $22,976,250 |
CAQ | CAQ Holdings Ltd | 0.017 | -10 | 127,223 | $14,355,726 |