Mass protests against policy brutality across the US continue to dominate the headlines, while the lingering threat of COVID-19 remains ever-present.

But so far this week, the message from stock markets is that it’s going to take more than that to alter the consensus view of future earnings.

On the economic front, Australia’s Q1 GDP figures showed the economy contracted by 0.3 per cent to the end of March, setting the country up for its first recession in 29 years once the June quarter figures are released.

And the Aussie dollar is rocketing higher, trading above US69c this morning — a gain of around 25 per cent from its crisis lows of ~US55c.

In markets, the big end of town led the way following another strong lead from US stocks. The ASX200 was almost 1 per cent higher just after midday EST, while the Small Ords was treading water with a gain of 0.2 per cent.

 

SMALL CAP WINNERS

Here are the best performing ASX small cap stocks at 12pm on Wednesday June 3:

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CODE COMPANY PRICE CHANGE MARKET CAP
AL8 Alderan Resources 0.11 83.33% $21.8M
MGV Musgrave Minerals Ltd 0.235 56.67% $108.8M
FGO Flamingo 0.002 50.00% $1.1M
NVX Novonix 0.78 44.44% $70.6M
OPY Openpay 2.88 44.72% $188.7M
EXR Exore Resources 0.087 40.32% $17.3M
IFN Infigen Energy 0.79 33.90% $572.7M
SVD Scandivanadium 0.016 33.33% $4.2M
DXN The Data Exchange Network 0.024 33.33% $18.9M
DDD 3D Resources Ltd 0.004 33.33% $9.9M
Z1P Zip 6.67 28.27% $2.0B
TAR Taruga Gold Ltd 0.019 26.67% $5.9M
SWM Seven West Media 0.133 26.19% $161.5M
CTO Citigold Corporation 0.005 25.00% $10.4M
NAE New Age Exploration Ltd 0.005 25.00% $3.6M
MSR Manas Resources Ltd 0.005 25.00% $10.6M
DHR Dark Horse Resources 0.003 25.00% $5.0M
MCT Metalicity 0.011 22.22% $12.5M
WCN White Cliff Minerals 0.011 22.22% $4.4M
8VI 8VIC 0.36 20.00% $13.1M
FBR Fastbrick Robotics 0.026 18.18% $39.6M

Copper-gold explorer Alderan Resources (ASX:AL8) led the pack, as markets showed some excitement at the company’s plan to complete its exploration efforts in Utah, USA.

To do that, the company said it will raise around $2.1m from sophisticated investors, via a combination of debt and an equity component, which will be comprised of a $900,000 raise at 5c per share.

That’s a slight discount from the company’s previous closing price of 6c, but well below this morning’s trading price after the stocked ripped higher by as much as 80 per cent.

 

SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks at 12pm on Wednesday June 3:

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CODE COMPANY PRICE CHANGE MARKET CAP
MCX Mariner Corporation Ltd 0.022 -72.50% $1.1M
MLS Metals Australia 0.001 -50.00% $6.4M
GLA Gladiator Resources 0.001 -33.33% $2.8M
MAG Magmatic Resources 0.24 -29.41% $41.6M
ADD Adavale Resources Ltd 0.015 -28.57% $2.6M
OLV Otherlevels Holdings Ltd 0.005 -28.57% $2.8M
POD Podium Minerals 0.019 -26.92% $3.1M
ENA Ensurance Ltd 0.016 -23.81% $9.1M
CNJ Conico Ltd 0.007 -22.22% $2.7M
TYM Tymlez Group 0.043 -18.87% $6.4M
DAU Dampier Gold Ltd 0.025 -16.67% $6.0M
WBE Whitebark Energy 0.005 -16.67% $15.0M
AGR Aguia Resources 0.046 -16.36% $11.1M
NZS New Zealand Coastal Seafoods 0.011 -15.38% $5.3M
KMT Kopore Metals 0.006 -14.29% $3.9M
EUR European Lithium 0.057 -13.64% $36.9M
KGM Kalnorth Gold Mines 0.007 -12.50% $6.3M
AO1 Assetowl 0.007 -12.50% $3.9M
DCG Decmil Group 0.082 -11.83% $20.1M
OVT Ovato 0.015 -11.76% $11.0M