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ASX Small Cap Lunch Wrap: Who’s not getting what they paid for today?
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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 |
|---|---|---|---|---|
| ALT | Analytica Limited | 0.002 | 33.3% | $6,920,702 |
| EVE | EVE Health Group Ltd | 0.002 | 33.3% | $6,464,713 |
| JAV | Javelin Minerals Ltd | 0.002 | 33.3% | $11,352,379 |
| ASP | Aspermont Limited | 0.024 | 26.3% | $46,009,779 |
| CL8 | Carly Holdings Ltd | 0.048 | 26.3% | $4,420,235 |
| CCE | Carnegie Cln Energy | 0.0025 | 25.0% | $30,205,147 |
| JNO | Juno | 0.145 | 20.8% | $16,278,960 |
| RAG | Ragnar Metals Ltd | 0.054 | 20.0% | $16,770,820 |
| JXT | Jaxstaltd | 0.036 | 20.0% | $10,277,346 |
| AQN | Aquirianlimited | 0.36 | 20.0% | $24,000,000 |
| AFW | Applyflow Limited | 0.003 | 20.0% | $7,394,020 |
| BCB | Bowen Coal Limited | 0.3325 | 18.8% | $425,662,987 |
| POL | Polymetals Resources | 0.135 | 17.4% | $4,606,505 |
| GED | Golden Deeps | 0.0185 | 15.6% | $18,482,550 |
| FFF | Forbidden Foods | 0.15 | 15.4% | $10,224,148 |
| PRM | Prominence Energy | 0.0115 | 15.0% | $24,246,088 |
| KRR | King River Resources | 0.031 | 14.8% | $41,945,174 |
| ADX | ADX Energy Ltd | 0.008 | 14.3% | $21,321,384 |
| MEB | Medibio Limited | 0.004 | 14.3% | $8,389,465 |
| K2F | K2Fly Ltd | 0.24 | 14.3% | $36,269,944 |
| AMP | AMP Limited | 1.17 | 14.1% | $3,347,758,499 |
| SFR | Sandfire Resources | 5.93 | 14.0% | $2,131,905,844 |
| OZM | Ozaurum Resources | 0.165 | 13.8% | $8,296,320 |
| NET | Netlinkz Limited | 0.05 | 13.6% | $143,579,054 |
| MKL | Mighty Kingdom Ltd | 0.11 | 13.4% | $11,797,005 |
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 |
|---|---|---|---|---|
| SLM | Solismineralsltd | 0.155 | -29.5% | $8,037,710 |
| AQX | Alice Queen Ltd | 0.006 | -25.0% | $12,262,784 |
| GGX | Gas2Grid Limited | 0.003 | -25.0% | $16,232,408 |
| AMD | Arrow Minerals | 0.004 | -20.0% | $9,119,659 |
| ARE | Argonaut Resources | 0.004 | -20.0% | $18,031,024 |
| VPR | Volt Power Group | 0.002 | -20.0% | $23,361,334 |
| SES | Secos Group Ltd | 0.19 | -15.6% | $120,577,919 |
| MAY | Melbana Energy Ltd | 0.094 | -14.5% | $315,859,145 |
| AQS | Aquis Ent Ltd | 0.15 | -14.3% | $6,250,856 |
| MCT | Metalicity Limited | 0.006 | -14.3% | $17,888,682 |
| SIH | Sihayo Gold Limited | 0.003 | -14.3% | $12,899,115 |
| TOU | Tlou Energy Ltd | 0.031 | -11.4% | $21,006,966 |
| PTR | Petratherm Ltd | 0.125 | -10.7% | $27,848,493 |
| RAB | Adrabbit Limited | 0.025 | -10.7% | $5,202,441 |
| GFN | Gefen Int | 0.26 | -10.3% | $17,716,351 |
| WSP | Whispir Limited | 1.32 | -10.2% | $173,067,995 |
| RMY | RMA Global | 0.18 | -10.0% | $95,871,927 |
| NMR | Native Mineral Res | 0.19 | -9.5% | $9,266,972 |
| VAL | Valor Resources Ltd | 0.01 | -9.1% | $40,198,589 |
| NUC | Nuchev Limited | 0.31 | -8.8% | $17,593,095 |
| OAK | Oakridge | 0.155 | -8.8% | $2,923,265 |
| GAS | State GAS Limited | 0.2875 | -8.7% | $62,947,176 |
| UBI | Universal Biosensors | 0.64 | -8.6% | $124,591,953 |
| ATL | Apollo Tourism | 0.44 | -8.3% | $89,352,436 |
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.
