ASX Small Cap Lunchtime Wrap: Who’s getting greedy in a crisis today?
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Around 1 million Aussies have applied for early access to their superannuation, as a means to help ease the financial burden from job losses, furloughs and redundancies in the wake of COVID-19.
But in a Senate inquiry yesterday, the Australian Federal Police (AFP) said not everyone was doing it legally.
The Tax Office is monitoring accounts where it appears people’s details are being used as part of a scam. Five search warrants have been issued while a number of bank accounts have been frozen, with access halted to around $120,000 in funds.
The breach was discovered on April 30 and subsequently referred to the AFP, which said there were up to 150 potential victims.
So far, (legal) claims made for early super have totalled around $9bn. Eligible applicants can apply for a $10,000 payment until June 30, with a further $10,000 payment potentially available in the June quarter.
According to The Association of Superannuation Funds of Australia, by the end of 2019 the total pool of superannuation assets amounted to $3 trillion.
To markets, and most people’s super funds were probably a little worse off today as the ASX200 fell by 0.65 per cent into midday trade, dragged lower by the big banks.
The Small Ords Index was more resilient, trading flat at around 2,378 points.
Here are the best performing ASX small cap stocks at 12pm on Thursday May 7:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
---|---|---|---|---|
IPT | Impact Minerals Ltd | 0.017 | 88.89% | $26.4M |
PKO | Peako | 0.012 | 71.43% | $1.6M |
AGE | Alligator Energy Ltd | 0.005 | 66.67% | $7.1M |
ELT | Elementos Ltd | 0.003 | 50.00% | $7.6M |
XCD | Xcd Energy | 0.01 | 42.86% | $7.0M |
CY5 | Cygnus Gold | 0.059 | 40.48% | $2.9M |
LOM | Lucapa Diamond Co Ltd | 0.066 | 34.69% | $25.8M |
CZL | Consolidated Zinc | 0.004 | 33.33% | $5.2M |
88E | 88 Energy | 0.006 | 30.00% | $35.6M |
IOD | Iodm | 0.125 | 25.00% | $55.3M |
MAY | Melbana Energy | 0.005 | 25.00% | $9.3M |
SHK | Stone Resources Australia | 0.005 | 25.00% | $3.3M |
S66 | Star Combo Pharma | 0.52 | 23.81% | $36.4M |
DXN | DXN | 0.011 | 22.22% | $4.1M |
BOC | Bougainville Copper | 0.25 | 21.95% | $82.2M |
MOZ | Mosaic Brands | 0.69 | 21.05% | $55.2M |
SCI | Silver City Minerals Ltd | 0.012 | 20.00% | $3.7M |
LSR | Lodestar Minerals Ltd | 0.006 | 20.00% | $4.3M |
OVT | Ovato | 0.02 | 17.65% | $12.4M |
A seven-hole diamond drilling operation at the site initially produced strong grades of palladium, platinum and gold, the company said.
However, new assay results also showed high-grades of the rare platinum group (RPG) elements — rhodium, iridium, osmium and ruthenium.
Follow-up drilling will be carried out “as soon as practicable following the issue of statutory permissions”, Impact said.
Here are the worst performing ASX small cap stocks at 12pm on Thursday May 7:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
---|---|---|---|---|
PCL | Pancontinental Oil&Gas | 0.001 | -33.33% | $8.1M |
ROG | Red Sky Energy | 0.001 | -33.33% | $2.4M |
TMK | Tamaska Oil and Gas Ltd | 0.005 | -28.57% | $4.5M |
AFR | African Energy Resources | 0.022 | -24.14% | $13.7M |
R2M | E2 Metals | 0.15 | -21.05% | $13.8M |
DHR | Dark Horse Resources | 0.002 | -20.00% | $5.0M |
AX8 | Accelerate Resources | 0.016 | -20.00% | $952K |
MHC | Manhattan | 0.009 | -18.18% | $10.1M |
RDN | Raiden | 0.005 | -16.67% | $2.2M |
CML | Chase Mining | 0.01 | -16.67% | $2.1M |
JPR | Jupiter Energy | 0.045 | -15.09% | $7.1M |
ANA | Ansila Energy NL | 0.006 | -14.29% | $3.1M |
HNR | Hannans Reward Ltd | 0.006 | -14.29% | $11.9M |
KAS | Kasbah Resources | 0.012 | -14.29% | $1.6M |
AVE | Avecho Bio | 0.007 | -12.50% | $11.2M |
ABT | Abundant Produce | 0.015 | -11.76% | $1.3M |
MRM | MMA Offshore | 0.07 | -10.26% | $64.8M |
SGQ | St George Mining Ltd | 0.09 | -10.00% | $35.1M |
MSE | Metalsearch | 0.009 | -10.00% | $10.6M |