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.


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

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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
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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.


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
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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.