Castle Minerals races ahead in our ASX small cap winners and losers list
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The Pilbara gold nugget front was quieter this week, but Castle Minerals was a notable exception.
The Pilbra explorer shot into the stratosphere on news it had secured land where gold nuggets had been found.
Perth-based Castle (ASX:CDT) — which is valued at about $6.1 million — told investors it had the majority rights to two areas in the East Pilbara.
Castle shares rocketed on the news, closing up 2.3c at 3.4c on Wednesday.
By Friday it had closed at 4.9c, up 227 per cent for the week.
Mobile gamer iCandy has been a winner since resuming trade last week – despite getting blocked from creating a cryptocurrency.
iCandy (ASX:ICI) group chairman Kin Wai Lau told Stockhead the ASX took issue with iCandy’s foray into creating a cryptocurrency because the exchange regarded it as a change of business activity.
iCandy finished up 135 per cent for the week at 22c, valuing the company at $15.1 million.
Investors applauded Gina Rinehart’s Lakes Oil, which took a public stand this week on Victoria’s gas exploration ban.
The explorer’s shares doubled this week to 0.3c.
Lakes Oil (ASX:LKO) publicly released a proposal to overturn Victoria’s ban on gas exploration after approaches to the State government were ignored.
Earlier this year Victoria suspended conventional onshore gas exploration until 2020 and permanently banned unconventional exploration including hydraulic fracturing (or fracking’) and coal seam gas.
Lakes Oil , which is suing the Victorian government for preventing exploration, outlined seven points in the proposal.
Investors got onboard Uranium Equities after it identified a “stand out” 2km lithium-beryllium anomaly at its Dundas project near Norseman in Western Australia.
The stock (ASX:UEQ) soared as much as 150 per cent to 1.5c on Tuesday. It closed on Friday at 1c — still up 83 per cent for the week.
State Gas staged a ripper float this week, launching itself onto the ASX Tuesday with a memorable ticker — GAS — and promptly rocketing 75 per cent to 35c.
State raised the full $5.25 million it was aiming for, issuing 26.3 million shares at 20c each for a market cap of $27 million.
The company was a subsidiary of Triangle Energy (ASX:TEG), which is one of the four businesses behind the much-anticipated Xanadu project in Western Australia.
State gas ended the week at 37c, an 85 per cent jump on its 20c issue price.
Here are the best performing ASX Small Cap stocks for Oct 9-13:
At the other end of the table, maritime workforce manager Comops dropped 36 per cent after it lost a bid to manage 33 ports for APM Terminals.
“We have previously advised that we were one of two shortlisted parties. Today we have been advised that we have not won this RFP (request for approval). Though disappointing, this has no current revenue impact on ComOps.”
Lithium play Argosy Minerals fell 18 per cent after a Chinese battery supplier tried to cancel a sales agreement.
Qingdao Qianyuan High-tech New Material Co — which earlier lost a 19.9 per cent placement deal with Argosy – asked Argosy to terminate a purchase agreement for battery-grade lithium from Argosy’s flagship Rincon lithium project in Argentina.
The deal was worth $9.55 million to Argosy in an upfront payment.
Perth-based Argosy (ASX:AGY) said ‘no way’ — and is seeking to hold talks with the company.
Here are the worst performing ASX Small Cap stocks for Oct 9-13: