Residents of New Orleans battened down the hatches last week as Hurricane Ida slammed into the city.

And amid the rush, one local employee of Domino’s Pizza (with their priorities straight) threw a big chunk of pizza dough into the tip-bin out the front, and headed for a safer locale.

However, with summer temperatures in NOLA climbing above 30C, the dough did what yeast-based food does; it began to rise.

By the start of this week, said dough had escaped the confines of the bin and morphed into this fairly gross-looking blob:

 

To markets…

Local stocks drifted lower in morning trade, ahead of the RBA’s policy meeting at 2:30pm AEST.

While most sectors traded in the red, it was a fairly calm session across Asian markets as stocks in Hong Kong also struggled for traction while Japanese markets posted a solid gain.

Only energy stocks outperformed as Brent crude oil prices hold above US$70/barrel, while the big miners came under pressure following another sharp fall in iron ore overnight.

Gold is holding above US$1,800/oz while the Aussie dollar — a barometer of global risk appetite — found demand in Asian trade and is back trading above US74c.

ASX SMALL CAP WINNERS

 Here are the best performing ASX small cap stocks for September 7 [intraday]:

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The leaders at the opening bell held their gains into midday trade, as tech play AppsVillage (ASX:APV) ticked higher by more than 30% as it stays in hot pursuit of a dual-listing.

The $4m market-cap minnow announced it’s secured a US$500,000 convertible note from A-Labs Advisory & Finance Ltd, to pursue a separate listing on the TSXV (TSX Venture Exchange) — the home of emerging companies on the Toronto Stock Exchange.

Shares in APV briefly climbed above 5c, still well below the company’s 2019 IPO price of 20c.

Thailand-based geothermal lithium play Pan Asia Metals (ASX:PAM) continues to run hot, after announcing that its drilling program had revealed thick pegmatite dykes and vein swarms at its Reung Kiet lithium project. Shares in PAM are now up by almost 400% since August 30.

Outside of resources, two small cap energy plays also rose in the wake of market-moving announcements.

Global Oil & Gas (ASX:GLV) jumped more than 20% after announcing a binding deal to acquire a 25% stake in the Sasanof prospect off the coast of Onslow, WA.

The deal will see GLV fund 50% of the cost of a proposed drilling program at the Sasanof-1 exploration well, which is scheduled to commence at the start of next year.

Melbana Energy Limited (ASX:MAY) rose by around 15% after announcing that it’s moved a step closer to the commencement of drilling at Alameda-1 well, part of its onshore oil & gas project in Cuba.

Melbana said the derrick for the drilling rig has been raised and the camp site is now fully operational, with drilling expected to commence around September 13.

ASX SMALL CAP LOSERS

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