ASX Small Cap Lunch Wrap: Who’s not getting what they paid for today?

Pic: Getty

It’s been a rocky week, but the microcap Emerging Companies index is on track to snap a 5-day losing streak in Thursday trade as local stocks rebounded.

At the big end of town, gains were paced by the big miners as iron ore prices edged higher to hold above US$140/t overnight.

Out of Detroit, a quick reminder to read the fine print — also important for things like quarterly 4C filings and IPO prospectus.

One local punter saw tickets to what he thought was a live show by the Red Hot Chilli Peppers.

The cost was $20 (cheap), and the iconic band was also booked to play at a fairly intimate local venue.

It looked to good to be true, and it definitely was. Said band was in fact the Red Not Chilli Peppers, a local tribute act for Grammy-winning group whose origins go back to the 1980s.

Speaking of putting 2+2 together, an annual headline inflation rate of 5.1% usually equals interest rate hikes (potentially quite a few of them).

In its March quarter sales result today, major grocery chain Coles (ASX:COL) announced that cost price inflation is now impacting suppliers “as a result of increased raw material, commodity, shipping and fuel costs”.

It adds up to a complex outlook for inflation, interest rates, equity valuations and home prices, after a two-year period where the global health crisis kept the liquidity taps turned up to ‘max’.

That may mean more volatility, as evidenced by the gyrations on global markets so far in 2022.

But here’s some good volatility (if you own lithium stocks). ASX-listed Pilbara Minerals (ASX:PLS) just sold lithium spodumene for a record $US5,650/t last night in its latest auction for uncontracted lithium exports.

As Stockhead contributor James Whelan would say, stay safe out there.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for April 28 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Code	Company	Price	%	Market Cap
ADX	ADX Energy Ltd	0.008	14.3%	$21,321,384
AFW	Applyflow Limited	0.003	20.0%	$7,394,020
ALT	Analytica Limited	0.002	33.3%	$6,920,702
AMP	AMP Limited	1.17	14.1%	$3,347,758,499
AQN	Aquirianlimited	0.36	20.0%	$24,000,000
ASP	Aspermont Limited	0.024	26.3%	$46,009,779
BCB	Bowen Coal Limited	0.3325	18.8%	$425,662,987
CCE	Carnegie Cln Energy	0.0025	25.0%	$30,205,147
CL8	Carly Holdings Ltd	0.048	26.3%	$4,420,235
EVE	EVE Health Group Ltd	0.002	33.3%	$6,464,713
FFF	Forbidden Foods	0.15	15.4%	$10,224,148
GED	Golden Deeps	0.0185	15.6%	$18,482,550
JAV	Javelin Minerals Ltd	0.002	33.3%	$11,352,379
JNO	Juno	0.145	20.8%	$16,278,960
JXT	Jaxstaltd	0.036	20.0%	$10,277,346
K2F	K2Fly Ltd	0.24	14.3%	$36,269,944
KRR	King River Resources	0.031	14.8%	$41,945,174
MEB	Medibio Limited	0.004	14.3%	$8,389,465
MKL	Mighty Kingdom Ltd	0.11	13.4%	$11,797,005
NET	Netlinkz Limited	0.05	13.6%	$143,579,054
OZM	Ozaurum Resources	0.165	13.8%	$8,296,320
POL	Polymetals Resources	0.135	17.4%	$4,606,505
PRM	Prominence Energy	0.0115	15.0%	$24,246,088
RAG	Ragnar Metals Ltd	0.054	20.0%	$16,770,820
SFR	Sandfire Resources	5.93	14.0%	$2,131,905,844

No major resources winners, as ASX small caps continue to navigate their way through broader market headwinds.

Specialist mining publisher Aspermont (ASX:ASP) held its gains from the opening bell, after reporting a revenue boost in Q1 driven by the pickup in activity across its live events division.

Among other stocks with news, investors responded positively to the Q1 trading update from Juno Minerals (ASX:JNO), developer of the Mount Mason DSO Hematite Project in WA.

With permits in place, Juno said a financial investment decision on Mount Mason is “subject to confirming a logistics
solution, which is being progressed”.

Also on the quarterlies winner’s list was mining reg-tech platform K2fly Limited (ASX:K2F), which flagged record March quarter revenues of $3.3m, a gain of 33.5% from the December quarter including deals with South32 and Freeport-McMoRan.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for April 28 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Code	Company	Price	%	Market Cap
AMD	Arrow Minerals	0.004	-20.0%	$9,119,659
AQS	Aquis Ent Ltd	0.15	-14.3%	$6,250,856
AQX	Alice Queen Ltd	0.006	-25.0%	$12,262,784
ARE	Argonaut Resources	0.004	-20.0%	$18,031,024
ATL	Apollo Tourism	0.44	-8.3%	$89,352,436
GAS	State GAS Limited	0.2875	-8.7%	$62,947,176
GFN	Gefen Int	0.26	-10.3%	$17,716,351
GGX	Gas2Grid Limited	0.003	-25.0%	$16,232,408
MAY	Melbana Energy Ltd	0.094	-14.5%	$315,859,145
MCT	Metalicity Limited	0.006	-14.3%	$17,888,682
NMR	Native Mineral Res	0.19	-9.5%	$9,266,972
NUC	Nuchev Limited	0.31	-8.8%	$17,593,095
OAK	Oakridge	0.155	-8.8%	$2,923,265
PTR	Petratherm Ltd	0.125	-10.7%	$27,848,493
RAB	Adrabbit Limited	0.025	-10.7%	$5,202,441
RMY	RMA Global	0.18	-10.0%	$95,871,927
SES	Secos Group Ltd	0.19	-15.6%	$120,577,919
SIH	Sihayo Gold Limited	0.003	-14.3%	$12,899,115
SLM	Solismineralsltd	0.155	-29.5%	$8,037,710
TOU	Tlou Energy Ltd	0.031	-11.4%	$21,006,966
UBI	Universal Biosensors	0.64	-8.6%	$124,591,953
VAL	Valor Resources Ltd	0.01	-9.1%	$40,198,589
VPR	Volt Power Group	0.002	-20.0%	$23,361,334
WSP	Whispir Limited	1.32	-10.2%	$173,067,995

Investors were looking for more from Solis Minerals (ASX:SLM), which fell by around 30% following the release of assay results from the copper mineralised system at its Mostazal copper project in Chile.