August ASX Winners Column: Reporting season failed to get investors excited, but coal, lithium and COVID battlers did
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August was another month of lockdown for much of Australia’s East Coast but lockdowns and even a 2% drop in the middle of the month couldn’t stop the ASX from producing another winners list.
The ASX 200 ultimately finished August 1.9% higher and the top 50 winners all gained 45% or more. The month of August was reporting season with most ASX companies (except those that use different financial year to July 1-June 30) releasing results.
We began August with just over 12 million vaccine doses and we’ve just surpassed 20 million, giving hope we’ll soon be out of the cage.
But experiences in countries that have returned to “life as usual” show it will be a double edged sword. The “milk crate challenge” craze hasn’t yet hit Australia and hopefully it doesn’t…
— Stephen A Smith (@stephenasmith) August 24, 2021
August was tougher to cope in lockdown with the Olympics over, the AFL regular season coming to an end in the middle of the month and OnlyFans being downgraded.
But the Paralympics has given us some lockdown joy – as of September 2 we’ve taken home 60 medals – 13 gold, 23 silver and 24 bronze.
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop
|Code||Company||Closing Price (Aug-31)||August % Return||Sector||MktCap$|
|RHI||Red Hill Iron||4.05||268||Resources||$ 239,312,814.51|
|IKW||Ikwezi Mining Ltd||0.69||229||Resources||$ 19,511,987.52|
|CHR||Charger Metals||0.63||174||Resources||$ 17,120,000.54|
|PAM||Pan Asia Metals||0.33||136||Resources||$ 8,048,796.60|
|ID8||Identitii Limited||0.16||129||Tech||$ 22,051,133.83|
|KNM||Kneomedia Limited||0.015||114||Tech||$ 15,353,519.93|
|ARR||American Rare Earths||0.175||106||Resources||$ 63,697,040.31|
|ORM||Orion Metals Ltd||0.034||100||Resources||$ 18,533,313.06|
|RNU||Renascor Res Ltd||0.145||96||Resources||$ 244,232,514.76|
|GLA||Gladiator Resources||0.029||93||Resources||$ 11,941,962.41|
|SYA||Sayona Mining Ltd||0.15||83||Resources||$ 978,106,466.40|
|BCB||Bowen Coal Limited||0.15||81||Resources||$ 163,644,294.87|
|LNU||Linius Tech Limited||0.037||76||Tech||$ 60,982,706.45|
|RNO||Rhinomed Ltd||0.37||76||Health||$ 93,909,378.84|
|NVX||Novonix Limited||4.52||75||Tech||$ 1,942,086,643.20|
|AOA||Ausmon Resorces||0.007||75||Resources||$ 4,974,615.40|
|AXP||AXP Energy Ltd||0.007||75||Energy||$ 32,749,587.64|
|IDT||IDT Australia Ltd||0.695||70||Health||$ 161,905,614.75|
|EPM||Eclipse Metals||0.037||68||Energy||$ 78,472,231.47|
|CKA||Cokal Ltd||0.165||65||Resources||$ 140,562,346.95|
|IHL||Incannex Healthcare||0.42||65||Health||$ 448,445,337.63|
|EQR||Eq Resources Limited||0.051||65||Resources||$ 66,981,086.18|
|NXM||Nexus Minerals Ltd||0.145||63||Resources||$ 36,622,750.65|
|1VG||Victory Goldfields||0.32||60||Resources||$ 10,665,094.84|
|CNJ||Conico Ltd||0.09||58||Resources||$ 88,887,602.98|
|WTC||WiseTech Global Ltd||48.34||57||Tech||$ 14,856,120,645.84|
|WFL||Wellfully Limited||0.105||57||Health||$ 23,080,251.26|
|SMN||Structural Monitor.||0.875||56||Tech||$ 100,488,122.63|
|ARC||Aust Rural Cap Ltd||0.53||56||Finance||$ 8,932,905.60|
|DGL||DGL Group Limited||2.35||56||Industrial||$ 552,550,000.00|
|JRL||Jindalee Resources||3.8||55||Resources||$ 199,196,793.18|
|SPN||Sparc Tech Ltd||0.585||54||Industrial||$ 34,577,306.36|
|HWK||Hawkstone Mng Ltd||0.043||54||Resources||$ 70,366,704.98|
|FYI||FYI Resources Ltd||0.86||54||Resources||$ 299,424,126.54|
|HHR||Hartshead Resources||0.023||53||Energy||$ 44,394,531.02|
|MRZ||Mont Royal Resources||0.33||50||Resources||$ 12,499,315.95|
|FTZ||Fertoz Ltd||0.33||50||Resources||$ 66,848,552.51|
|PBX||Pacific Bauxite Ltd||0.003||50||Resources||$ 1,189,842.10|
|ADV||Ardiden Ltd||0.012||50||Resources||$ 27,941,604.81|
|PPK||PPK Group Limited||19.71||50||Industrial||$ 1,675,064,226.33|
|EUR||European Lithium Ltd||0.087||47||Resources||$ 86,829,255.13|
|AGY||Argosy Minerals Ltd||0.175||46||Resources||$ 200,043,472.64|
|DXB||Dimerix Ltd||0.35||46||Health||$ 82,004,710.26|
|AAJ||Aruma Resources Ltd||0.08||45||Resources||$ 7,629,186.74|
|VUL||Vulcan Energy||14.25||45||Resources||$ 1,495,881,255.00|
|MAF||MA Financial Group||8.1||45||Finance||$ 1,186,557,751.96|
Taking the gold medal on the ASX was Red Hill Iron (ASX:RHI), all thanks to a major deal unveiled on the first trading day of the month.
The company announced the sale of its 40% interest in the 820 million tonne Red Hill Iron Ore Joint Venture (RHIOJV) to Mineral Resources (ASX:MIN) for $400 million in cash.
Second was Ikwezi Mining (ASX:IKW), a company which produces and exports thermal coal from its Ikwezi mine in South Africa.
This company had dropped at the end of last month after its quarterly – with its cash balance arguably being a catalyst – but shares have turned around this month as investors paid closer attention to the company’s sentiments on thermal coal prices.
Third is lithium play Charger Metals (ASX:CHR).
Charger only joined the ASX in July but began to take off at the start of August when New York investment group Lind Partners became a substantial holder.
As you might’ve guessed by the top winners in August all being in junior exploration, reporting season failed to get ASX investors excited – for the most part.
The best non-resources stock was regtech company Identitii (ASX:ID8) which surged after own financial results.
For FY21, the company booked total revenue of $2.7m (including $1.3m of grant revenue) and an annual loss of $5.3m.
Identitii also announced that it was pursuing additional patent claims for its technology in the US market.
Another major mover in reporting season was freight software firm WiseTech Global (ASX:WTC). It had been a tough couple of years for the company with a short-seller attack in 2019 and initial disruption due to COVID-19.
But its CargoWise logistics platform had been doing wonders for it, causing a 149% lift in free cash flow to $139.2m on revenues of $507.5m
Another notable mover was IDT Australia (ASX:IDT).
But in August it signed Sterile Readiness Agreement with the government to bring its sterile manufacturing facility into a state of readiness to potentially produce the vaccine.
Still on the topic of the COVID-19 battle, another beneficiary was Rhinomed (ASX:RNO) after netting a contract with NSW Health Pathology for one million SARS-CoV-2 Rhinoswabs as part of the department’s program to support testing capability.
The Rhinoswab technology aims to improve the sample collection process, and with extensive testing, was proven to be substantially more comfortable and easier to use than the standard nasal swab, while capturing a larger sample.