• ASX 200 benchmark heads into the weekend with a -1.9% bootprint on its arse
  • Every sector lost ground since Monday morning, especially Real Estate and Health Care
  • OzAurum (ASX:OZM) thumps out a contrarian +289% whopper to a round of happy applause


It was a week that felt like an utter grind for a number of reasons – not least of which was the daily Parade of Ill-Feeling at 4pm when the shouting stopped, the dust settled and no matter how much I poked them with a stick, the numbers stubbornly refused to lie.

The ASX shed 1.9% this week… and that’s one of the band-aids torn off.

But wait, there’s more.

The sectors for the week are universally redder than the rear end of an amorous baboon, and while Utilities did its darndest to make headway through the week, it’s gotten to Friday arvo 0.4% on the wrong side of good.

The woes start to kick in almost immediately after that, with Staples and Materials close enough to -1.0% that it’s pretty much academic that they didn’t quite hit the milestone.

The rest of the sectors did, though. Energy and InfoTech broke the -3.0% barrier, and both Health Care and Real Estate lost more than 4.2% apiece.


asx winner week OZM
Chart via Marketindex.com.au


The more granular ASX indices just tell us the same story, but with a few more of the juicier, salacious parts left in for the Adults Only, post-9:30pm crowd who don’t mind a bit of gore with their loss porn.

The best of them look like this:

asx winner week OZM
Chart via Marketindex.com.au


And the worst of them look like someone drove a road accident into the back of another road accident.

asx winner week OZM
Chart via Marketindex.com.au


That’s not say there weren’t any winners – I’ll get to them in a minute – but I feel compelled to mention that at least one company reporting in today has managed an amazing numerical feat.

Aquis Entertainment – a market minnow by any measure – hit a 52-week high today after someone spent $2. Incredible stuff.



Here are the best performing ASX small cap stocks from 18-22 September:

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

Code Company Price % Week Market Cap
OZM Ozaurum Resources 0.125 291% $17,780,000
AVW Avira Resources Ltd 0.002 100% $4,267,580
BTC BTC Health Ltd 0.0415 73% $12,964,932
WC8 Wildcat Resources 0.4075 70% $269,575,113
BUS Bubalusresources 0.235 62% $6,975,438
AL8 Alderan Resource Ltd 0.012 50% $7,400,336
AMD Arrow Minerals 0.003 50% $9,071,295
EMU EMU NL 0.003 50% $4,350,064
PRX Prodigy Gold NL 0.009 50% $14,008,863
WCN White Cliff Min Ltd 0.012 50% $12,570,186
E25 Element 25 Ltd 0.445 44% $89,187,437
OKR Okapi Resources 0.15 43% $31,512,902
1AE Aurora Energy Metals 0.115 40% $16,716,728
AUN Aurumin 0.028 40% $7,759,520
DES Desoto Resources 0.14 40% $9,588,240
RDS Redstone Resources 0.007 40% $6,099,649
SGC Sacgasco Ltd 0.007 40% $5,415,079
PKD Parkd Ltd 0.029 38% $2,850,913
AAR Astral Resources NL 0.098 38% $64,772,679
SRJ SRJ Technologies 0.1 37% $13,073,976
AXP AXP Energy Ltd 0.002 33% $11,649,361
KEY KEY Petroleum 0.002 33% $3,935,856
NZS New Zealand Coastal 0.002 33% $3,308,020
OSM Osmond Resources 0.12 33% $5,627,525
SRY Story-I Limited 0.004 33% $1,505,619
WEL Winchester Energy 0.004 33% $4,081,688
VTX Vertexmin 0.15 30% $10,297,375
VMC Venus Metals Cor Ltd 0.13 30% $24,664,729
FSG Field Solu Holdings 0.052 30% $39,714,563
ALV Alvomin 0.175 30% $12,239,379
TMR Tempus Resources Ltd 0.031 29% $8,419,633
PCK Painchek Ltd 0.04 29% $56,117,773
BUR Burleyminerals 0.18 29% $18,739,900
ICN Icon Energy Limited 0.009 29% $6,912,123
WCG Webcentral Ltd 0.115 28% $39,495,147
E33 East 33 Limited. 0.028 27% $12,458,129
ICR Intelicare Holdings 0.014 27% $2,924,816
TIG Tigers Realm Coal 0.007 27% $78,400,214
HAR Haranga Resources 0.17 26% $8,638,383
BNR Bulletin Resources 0.075 25% $22,312,924
CUF Cufe Ltd 0.015 25% $17,191,685
DCX Discovex Res Ltd 0.0025 25% $8,256,420
GTG Genetic Technologies 0.0025 25% $23,083,316
MRQ MRG Metals Limited 0.0025 25% $5,464,797
PVT Pivotal Metals Ltd 0.02 25% $9,258,205
RLG Roolife Group Ltd 0.015 25% $10,808,372
TKL Traka Resources 0.005 25% $4,356,646
TRU Truscreen 0.025 25% $9,999,408
RMY RMA Global 0.075 25% $41,845,697
Wordpress Table Plugin


Not much point going into huge detail here, as the companies that did well and the reasons that happened are all covered off down below.

But for an at-a-glance of the winners, OzAurum Resources (ASX:OZM) was the clear stand-out this week, thanks to its +289% fireworks display – a mighty effort in such a depressing week on-market.

BTC Health also banked a solid week, adding 73% to its trading price, while Wildcat Resources (ASX:WC8) enjoyed the best of the previous week’s momentum and the early part of this week to add 70% to its price as well.



Here are the best performing ASX small cap stocks from 18-22 September:

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

Code Company Price % Week Market Cap
CYM Cyprium Metals Ltd 0.033 -67% $48,790,794
TMG Trigg Minerals Ltd 0.011 -35% $2,013,846
BRN Brainchip Ltd 0.19 -34% $355,011,629
CLE Cyclone Metals 0.001 -33% $10,264,505
CT1 Constellation Tech 0.002 -33% $2,942,401
TD1 Tali Digital Limited 0.001 -33% $3,295,156
HFY Hubify Ltd 0.015 -32% $7,442,044
ICG Inca Minerals Ltd 0.015 -29% $7,365,150
VN8 Vonex Limited. 0.015 -29% $6,874,744
PHO Phosco Ltd 0.049 -28% $15,367,148
PHL Propell Holdings Ltd 0.016 -27% $1,925,688
NGY Nuenergy Gas Ltd 0.027 -27% $39,985,798
JBY James Bay Minerals 0.38 -27% $12,815,775
AN1 Anagenics Limited 0.014 -26% $6,581,159
MGU Magnum Mining & Exp 0.029 -26% $22,430,310
CHR Charger Metals 0.135 -25% $11,801,730
M4M Macro Metals Limited 0.003 -25% $5,961,233
PVS Pivotal Systems 0.003 -25% $2,305,138
WFL Wellfully Limited 0.003 -25% $1,478,832
IHL Incannex Healthcare 0.066 -25% $103,155,673
AKM Aspire Mining Ltd 0.079 -25% $45,179,692
AGE Alligator Energy 0.05 -24% $172,022,848
DAF Discovery Alaska Ltd 0.019 -24% $4,450,459
DTR Dateline Resources 0.013 -24% $11,510,757
OAK Oakridge 0.076 -23% $1,306,872
GML Gateway Mining 0.03 -23% $7,990,006
MTC Metalstech Ltd 0.15 -23% $28,290,689
AXN Alliance Nickel Ltd 0.064 -23% $44,925,696
G50 Gold50 0.12 -23% $13,375,089
WEC White Energy Company 0.062 -23% $4,241,183
HAS Hastings Tech Met 0.775 -23% $99,612,322
NAE New Age Exploration 0.007 -22% $10,051,292
EMP Emperor Energy Ltd 0.011 -21% $2,957,487
PPY Papyrus Australia 0.022 -21% $11,329,055
KCC Kincora Copper 0.035 -20% $6,254,783
AHK Ark Mines Limited 0.195 -20% $8,803,228
CYQ Cycliq Group Ltd 0.004 -20% $1,430,067
ERL Empire Resources 0.004 -20% $4,451,740
MEM Memphasys Ltd 0.012 -20% $12,473,765
MXC MGC Pharmaceuticals 0.002 -20% $8,855,936
ROO Roots Sustainable 0.004 -20% $554,889
SCT Scout Security Ltd 0.016 -20% $3,460,020
KED Keypath Education 0.305 -20% $68,702,300
CBE Cobre 0.058 -19% $16,927,749
NWM Norwest Minerals 0.029 -19% $9,202,224
HAL Halo Technologies 0.063 -19% $8,158,198
NGS NGS Ltd 0.013 -19% $3,768,411
4DX 4D Medical 0.52 -19% $190,086,236
Wordpress Table Plugin



Monday 18 September – ASX down 0.67% 

If you’d like a good read around Wildcat Resources (ASX:WC8), which was up about 85% for the day on Monday, you should read Reuben’s spot-on Nostradamian description of WC8 almost one month ago. It’s both well-written and downright creepy – a rare but most enjoyable cross-genre combo.

That Monday share price action came after drilling into a “major lithium discovery” at its Tabba Tabba prospect in WA.

It’s a litany of good-lookin’ lithium hits:

  • 85m at 1.1% Li2O from surface (TARC086) (down-hole length)
    • including 59m @ 1.5% Li2O from surface
  • 218m at 0.8% Li2O from 16m (TARC089) (down-hole length)
    • including 22m at 1.0% Li2O from 31m
    • including 23m at 1.0% Li2O from 152m
    • including 51m at 1.5% Li2O from 183m to end of hole
      • Estimated true width is approximately 53m

That’s the results from the central cluster WC8 drilled, and the second cluster isn’t as good, but it’s still pretty decent, with highlights such as 21m at 1.1% Li2O from 42m, and 20m at 1.3% Li2O from 20m.

Just 2km east of Delta Lithium’s Malinda Prospect, Bubalus Resources (ASX:BUS) has snapped up a few tenements prospective for lithium mineralisation in the Gascoyne Region of Western Australia.

The area’s never been the subject of a serious lithium hunt before, BUS says, which is exciting in and of itself – and the location means that Bubalus can now work year-round, as its other major projects are all a lot further north in the NT, and subject to closure during The Wet.

Also climbing in arvo trade was a third Li2O vebture, Venus Metals (ASX:VMC). Venus has informed the ASX it’s mapped two new zones with outcropping LCT pegmatites, south from Lithium-rich pegmatites (reported previously on 24 August 2023), which are reportedly replete with as much as 4.6% Li2O.

And sticking to the lithium theme, absolute Li2O minnow, Reach Resources (ASX:RR1) jumped about 29%% to 0.018 cents a pop after recent mapping at its 100% owned Morrissey Hill Lithium Project, in Yinnetharra WA, has revealed a bunch of previously unrecognised, wide and strike extensive pegmatite swarms.

“Individual pegmatites extend up to 2km in strike length and over 30 metres in width.,” the company says.

The majority are hosted within mafic volcanics (basalts/greenstones) and/or mafic sediments of the Leake Springs, also home to Delta Lithium’s (ASX:DLI) neighbouring Malinda Lithium.


Tuesday 19 September – ASX down 0.5% 

Lithium play Juno Minerals (ASX:JNO) was up some 45% at the close on Tuesday, still riding the waves made by last week’s positivity around news that infill soil sampling results have been full of promise for lithium prospectivity south of its Mount Ida Magnetite Project.

Copper cap Magmatic Resources (ASX:MAG) closed Tuesday with almost 30% in the pocket after kicking off a new diamond drilling program at its greater Corvette and Kingswood prospect within Magmatic Resources’ 100%-owned Myall Project.

MAG told the ASX that the program is targeting shallow mineralisation immediately below the transported cover, with 8-10 holes expected to be completed to an average depth of 250 metres over the coming 4-6 weeks, while the processing of diamond core will start nowish.

The current phase of exploration has the potential to rapidly expand the significant metal endowment already defined at Myall, which includes 354,000 tonnes of copper metal-equivalent.

Codrus Minerals (ASX:CDR) is ahead strongly on Tuesday as well. The REE play’s been sharing some upbeat exploration drilling results at its Karloning REE project in WA.

CDR’s best so far: 20m grading 1,554ppm TREYO from 8m, including 4m grading 2,014ppm TREYO from 18m in hole KGAC057, and 14m grading 1,423ppm TREYO from 12m, including 2m grading 1,931ppm TREYO from 16m in hole KGAC058.

Also enjoying momentum out of last week, Okapi Resources (ASX:OKR) was rising steadily throughout the day, adding 38% at the close.

And finally, Raiden Resources (ASX:RDN) is up more than 21% after notching high-grade lithium and rubidium samples and a new 50m wide mineralised pegmatite at Andover South, grading up to 2.42% Li2O.


Wednesday 20 September – ASX down 0.5% 

Gaming minnow Mighty Kingdom (ASX:MKL) hired lawyers on Monday to chase down its ex-CEO for a cool $2 million, and jumped on Wednesday on news it won’t be going bust as it hunt its man.

Circa $2.1 million which it says are owed to it by the gaming company’s largest shareholder Gamestar Studios founded by ex MKL CEO Shane Yeend.

Gamestar’s outstanding contribution to a $7mn placement last year was circa $2.3mn. Mighty Kingdom says only $200k of that has been handed over.

Mighty Kingdom, chaired by former ABC boss Michelle Guthrie, says the funds “have not been forthcoming despite efforts to resolve the delays”, with the announcement released just 18 days after the Gamestar Studios founder quit MKL.

MKL said it was in a position to finance its ongoing business operations without immediate recourse to the Gamestar+ settlement monies.

Alderan Resources (ASX:AL8) jumped up 50% before lunch on happy news that the company has acquired 100% ownership of seven lithium exploration projects consisting of 24 granted exploration licences covering 472km2 in Brazil’s Eastern Lithium Belt.

The licences cover project areas all located in and immediately south of the area known as ‘Lithium Valley’ in the Eastern Lithium Belt of Eastern Brazil.

For reference, Latin Resources’ (ASX:LRS) Salinas Project is just up the road, which boasts a JORC compliant Measured, Indicated & Inferred Mineral Resource estimate of 45.2Mt grading 1.34% Li2O.

OzAurum Resources (ASX:OZM) is back in the winner’s circle again on news that the company has raised $2.4 million (before costs) via a share placement through the issue of 31,750,000 new shares.

Interest in OZM went through the roof last week on news that OzAurum has also been out project shopping in Brazil, buying up the Linopolis Jaime Project that has been mined intermittently for tantalite, beryl, tourmaline, brazilianite and feldspar intermittently by the Pacheco family and other artisanal miners for more than 50 years.

Besra Gold (ASX:BEZ) spiked early on news the company agreed to sell to Quantum a quantity of refined gold from the Bau Gold Project, up to 3,000,000oz or a value of US$300,000,000, whichever comes first – but has sinced settled back to a 12% gain for the morning.

Resource Base (ASX:RBX) and Megado Minerals (ASX:MEG) were up on thin volume, climbing more than 21% each.


Thursday 21 September – ASX down 1.4% 

There was some movement at the top of the Small Caps list on Thursday, leaving the slightly mysterious Pearl Gull Iron (ASX:PLG) on top of the ladder on +30.7% – something I doubt anyone was expecting to see.

The company rose (apparently) on the back of its annual report, which landed after hours yesterday, showing that not much has changed in the past 12 months: PGL still has an Inferred Mineral Resource estimate of 24.5Mt at 34.3% Fe, but it still has to find an economic way of getting it off the ultra-remote Cockatoo Island.

The company says it’s been looking into a low-cost barge, but as yet nothing is set in stone.

PainChek (ASX:PCK) came out of nowhere this afternoon to post a 30% gain on no news, and that’s despite being handed a speeding ticket by the ASX for a similarly curious price move Wednesday.

Painchek told the ASX that it has no explanation for the sudden interest in the company from investors, but says that maybe “it is possible that the market may be reacting to the recent issue of shares as part of the placement that was announced on 14 September 2023”.

Rounding out the Top 3 was current market darling OzAurum Resources (ASX:OZM), up 26% today to take its run for the past week to +353.12%, with the company’s annual report landing at 4:17pm today (after the markets closed).


Friday 22 September – ASX up (!!!) 0.05% (oh…)

The small cap leaders swung to and fro on very low volumes and with some star no-news performers lurching all over the place.

Examples included:

Mithril Resources (ASX:MTH) doubled its share price to a whopping 0.002c, up 100% on nothing I could see.

Eneco Refresh (ASX:ERG) found 78% with no news to guide it and White Cliff Minerals (ASX:WCN) is up 20% on reasonable volume, despite no market-moving news for more than a week.

The hero of the dish on Friday was a surprise packet. The tech group Symbio Holdings (ASX:SYM) said it is mulling a final takeover offer from Superloop (ASX:SLC) which dropped that morning, giving the share price a worthy circa 20% boost in early trade to around $2.69. Based on Superloop’s closing price of 69.5 cents per share on 21 September, this implies an offer price of $2.91 per share.

In addition, with Symbio sitting on 15 cents per share worth of franking credits, the offer will lift to $3.06 per share if these are released via a special dividend from the ASX tech share prior to implementation.

Following a period of exclusive due diligence, which expired on 12 September, Symbio says it’s has received a revised Best and Final non-binding indicative proposal from Superloop, wherein Symbio shareholders would receive a consideration of A$1.425 in cash and 2.14 Superloop shares for each Symbio share.

Symbio shareholders would also have the ability to receive a greater portion of the consideration in scrip or shares by way of a mix and match facility, subject to scale back to achieve an overall consideration mix of up to 60% cash or up to 60% scrip, depending on the elections made by shareholders, SYM says.

The Board meanwhile says “standby” and asked shareholders not to do anything till they get back.



No. There was supposed to be, but.



Probably, because there was supposed to be some, but then there wasn’t.



CGN Resources (CGR) – Due to list on September 15, $10 million at $0.20, but didn’t.

Pioneer Lithium (PLN) – Due to list on September 18, $5 million at $0.20, but didn’t.

Far Northern Resources (FNR) – Due to list on September 21, $6 million at $0.20, but didn’t.