As COVID-19 began sending shockwaves through global markets, Warren Buffett’s Berkshire Hathaway was amassing a massive cash pile.

The record $US137 ($214) billion figure climbed even higher as Berkshire dumped more than $6 billion of stocks in April, making Buffett a net seller of equities so far this year.

“Historically, he’s been pretty visible in the marketplace, encouraging investors to take advantage of market downturns and being greedy when others are fearful,” Jim Shanahan, an analyst at Edward Jones, told Bloomberg.

“But if Buffett himself isn’t seeing opportunities, even in his own stock, what are we to think about the recent market selloff? Is it not a buying opportunity for long-term investors?”

Meanwhile, Elon Musk saw an opportunity to slice a lazy $14bn ($22bn) off the Tesla market cap with one tweet:

 

SMALL CAP WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday May 4:

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CODE COMPANY PRICE CHANGE MARKET CAP
GTE GTE 0.002 100.00% $2.5M
FGO Flamingo 0.002 50.00% $1.1M
SGC Sacgasco 0.017 54.55% $4.6M
RIM Rimfire Pacific Mining NL 0.006 50.00% $7.6M
OEX Oilex 0.003 50.00% $10.3M
XTC Xantippe Resources 0.003 50.00% $6.7M
DDD 3D Resources Ltd 0.002 33.33% $2.1M
RWD Reward Minerals Ltd 0.15 25.00% $24.4M
APH Australian Primary Hemp 0.15 25.00% $10.5M
DDT DataDot Technology Ltd 0.005 25.00% $4.0M
PMY Pacifico Minerals Ltd 0.005 25.00% $14.4M
SPQ Superior Resources Ltd 0.005 25.00% $3.7M
GTR GTI Resources Ltd 0.017 26.92% $6.0M
APT Afterpay Touch 35.92 23.18% $7.8B
FAM Family Insights Group 0.045 21.62% $2.4M
CEL Challenger Exploration 0.175 25.00% $75.0M
ZNC Zenith Minerals Ltd 0.054 20.00% $11.0M
MSM MSM Corp 0.012 20.00% $8.4M
BNL Big Star Energy 0.006 20.00% $3.7M
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WA explorer Rumble Resources (ASX:RTR) hit sections of high grade zinc-lead-silver up to 200m wide at the Earaheedy project, which “highlights the potential for multiple large scale (large tonnage) flat-lying sulphide deposits that would be amenable to open cut mining”.

The biggest winner from this news was minority joint venture partner Zenith Minerals (ASX:ZNC), which rose +15 per cent.

Uranium/vanadium explorer GTI Resources (ASX:GTR) received a +23 per cent bump when storied mining investor Tolga Kumova increased his ownership stake from 8.6 per cent to 10 per cent.

And tiddler Rimfire (ASX:RIM) has snared a $4.5m earn in agreement with private co Golden Plain Resources (GPR) over the Fifield Project in NSW.

GPR will immediately commit to a $240,000 equity investment in Rimfire shares at 0.32 cents per share, a premium to the current share price.

GPR will invest $1.5m per year for three years to earn a 50.1 per cent interest in the JV area.

Following the completion of the earn-in, GPR have committed to fund project development, including Rimfire’s portion. Rimfire will repay its share of the development costs from operating cash flows.

 

SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday May 4:

Swipe or scroll to reveal the full table. Click headings to sort.

CODE COMPANY PRICE CHANGE MARKET CAP
ARO Astro Resources NL 0.002 -33.33% $3.8M
CRO Cirralto 0.002 -33.33% $2.5M
HIP Hipo Resources 0.011 -21.43% $5.4M
POW Protean Energy 0.004 -20.00% $1.6M
TPS Threat Protect Australia 0.044 -18.52% $13.0M
LIN Lindian Resources 0.014 -17.65% $9.9M
ARD Argent Minerals Ltd 0.014 -17.65% $10.8M
ADX Adx Energy Ltd 0.005 -16.67% $10.3M
CE1 Calima Energy 0.005 -16.67% $12.9M
MNQ Mint Payments 0.005 -16.67% $5.5M
AJM Altura Mining Ltd 0.038 -16.30% $119.7M
TBL Tambla 0.15 -14.29% $3.5M
GMR Golden Rim 0.006 -14.29% $8.6M
AQD Ausquest Ltd 0.012 -14.29% $9.5M
MEY Marenica Energy Ltd 0.056 -13.85% $8.5M
RDG Resource Development Group 0.019 -13.64% $12.0M
NWF Newfield Resources Ltd 0.165 -13.16% $95.9M
POD Podium Minerals 0.02 -13.04% $3.7M
MXR Maximus Resources 0.027 -12.90% $1.4M
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