• The ASX microcaps Emerging Companies index closed 0.01% higher on Friday
  • Copper explorer Stelar Metals (ASX:SLB) led the market with a 57% gain
  • US stock futures are trading flat ahead of the Friday open on Wall St


After a pretty strong week, ASX microcaps closed things out with a flat day of trade on Friday, with no major catalysts during the session.

After a rocky month, markets look ready to settle in for the long haul on two of the primary global investment narrative; the ongoing Russia-Ukraine invasion, and rising interest rates.

Commodity prices are still sky-high, and investors once again cast a keen eye on ASX junior explorers leading the market this morning.

Get Reuben Adams’ daily resources update here.

ASX gold stocks also had a good day on Friday.

After consolidating above US$1,900/oz, the precious metal is trading above US$1,960/oz in afternoon Asian trade — is another push towards US$2,000/oz on the cards?

Those gold gains accompanied a broad round of weakness in the US dollar, which has seen the AUD push back above US75c for the first time since October last year.

Looking ahead, US stock futures are trading flat ahead of the Wall Street open.

That followed another strong session overnight, as the Nasdaq rose by +2% led by some big gains among US semiconductor stocks.



(Stocks highlighted in yellow rose after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

Code Description Price % Volume
SLB Stelar Metals 0.275 57.1% 4,431,840
MAN Mandrake Resources 0.065 38.3% 66,157,414
IMR Imricor Med Sys 0.69 35.3% 176,693
ANL Amani Gold Ltd 0.0025 25.0% 701,340,911
GTG Genetic Technologies 0.005 25.0% 1,343,460
CGB Cann Global Limited 0.033 22.2% 4,198,147
EX1 Exopharm Limited 0.3 20.0% 415,801
IVT Inventis Limited 0.12 20.0% 45,000
MOQ MOQ Limited 0.06 20.0% 750,000
FAL Falconmetalsltd 0.46 19.5% 1,806,889
MBX My FoodieBox 0.19 18.8% 70,000
GFN Gefen Int 0.3 17.6% 465,728
SLM Solismineralsltd 0.205 17.1% 370,213
ATU Atrum Coal Ltd 0.014 16.7% 1,131,456
XST Xstate Resources 0.0035 16.7% 5,472,235
XTC Xantippe Res Ltd 0.008 14.3% 388,874,562
MIL Millennium Grp Ltd 0.48 14.3% 48,000
DAL Dalaroometalsltd 0.16 14.3% 80,549
M24 Mamba Exploration 0.16 14.3% 212,062
LV1 Live Verdure Ltd 0.34 13.3% 73,704
BIR BIR Financial Ltd 0.034 13.3% 380,000
BTN Butn Limited 0.3 13.2% 109,550
DEV Devex Resources Ltd 0.475 13.1% 792,549
SFG Seafarms Group Ltd 0.026 13.0% 9,183,842
NZM Nzme Limited 1.525 12.5% 243,962
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Among stocks with news, Mandrake Resources (ASX:MAN) held its gains after flagging a “transformational” deal to buy the high grade ‘Delphin’ copper project in Chile.

The project is in a prolific copper-producing region which is home to monstrous mines like Escondida, a joint venture between Australia’s two largest mining companies. Mandrake intends to undertake an active exploration program commencing early Q2.

Also rising on M&A news was diversified manufacturing company Inventis (ASX:IVT), which announced the acquistion of Electronic Circuit Designs.

The share sale agreement values ECD at 3 x normalised EBITDA based on its 2021 accounts, amounting to approximately $2.2m plus net excess working capital.

Elsewhere, newly listed copper-zinc play Stelar Metals (ASX:SLB), which operates a number of projects in copper-rich areas of South Australia, surged by more than 50% on no news.

Another strong mover was cannabis stock Cann Global (ASX:CGB), which jumped by ~30% on no news to 3.5c — although the stock once hit a high above $2 in the ASX’s first cannabis boom back in 2017.



(Stocks highlighted in yellow fell after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price % Volume
TGH Terragen 0.11 -21.4% 106,196
GMN Gold Mountain Ltd 0.009 -18.2% 4,206,786
OXX Octanex Ltd 0.019 -17.4% 1,000
BRX Belararoxlimited 1.2 -17.2% 1,399,392
ROO Roots Sustainable 0.005 -16.7% 1,039,121
VPR Volt Power Group 0.0025 -16.7% 579,573
FNX Finexia Financialgrp 0.06 -14.3% 9,576
NZS New Zealand Coastal 0.006 -14.3% 118,609
JCS Jcurve Solutions 0.059 -13.2% 100,000
ABE Ausbondexchange 0.4 -13.0% 61,891
AWV Anova Metals Ltd 0.014 -12.5% 1,326,000
ARR American Rare Earths 0.46 -12.4% 8,692,027
MAG Magmatic Resrce Ltd 0.085 -12.4% 2,407,012
BCA Black Canyon Limited 0.3 -11.8% 305,158
KNI Kunikolimited 1.24 -11.4% 705,572
ROC Rocketboots 0.12 -11.1% 165,402
VMY Vimy Resources Ltd 0.24 -11.1% 7,599,671
CLE Cyclone Metals 0.004 -11.1% 2,322,370
PWN Parkway Corp Ltd 0.008 -11.1% 467,186
VIP VIP Gloves 0.016 -11.1% 973,771
TLX Telix Pharmaceutical 4.24 -10.5% 5,676,325
ICN Icon Energy Limited 0.017 -10.5% 6,407,647
IEC Intra Energy Corp 0.017 -10.5% 1,857,003
SHH Shree Minerals Ltd 0.017 -10.5% 6,006,584
AJL AJ Lucas Group 0.06 -10.4% 1,814,319
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Westgold (ASX:WGX) has announced a board shakeup with Peter Cook retiring as non-executive chairman. Cook was founder of the group of companies from which Westgold was formed in 2004.

Cook will be replaced by Cheryl Edwardes AM as independent non-executive chair. Edwardes was a former Western Australian government minister and serves and is on the board of several mining companies. West Gold has also appointed experienced mining executive Julius Matthys as a non-executive chair.

Fertility company Virtus Health (AX:VRT) has received written confirmation from the Foreign Investments Review Board that it has no objections to a $706 million takeover offer from UK private equity firm CapVest for $706 million.

CapVest had been in a battle with Aussie private equity firm BGH Capital for Virtus. Under the deal, CapVest will acquire 100% of Virtus shares by a scheme of arrangement.

Bryah Resources (ASX:BYH) has committed funding to retain 49% of the manganese joint venture with OM Holdings. Drilling of the Brumby Creek in WA maganese targets has now started. Gradient Array Induced Polarisation surveys will start in April in the Horseshoe Mine Prospect Area.

“The announcement of manganese mineral resources underpins mining licence applications in the Brumby Creek and Black Hill locations, complementing the existing granted mining lease at Horseshoe Sout,” Bryah CEO Ashley Jones said.



Sequoia Financial Group (ASX:SEQ) — Pending acquisition

Alligator Energy (ASX:AGE) — Drilling results; Samphire Project

Tietto Minerals (ASX:TIE) — Capital raising

Consolidated Zinc (ASX:CZL) — Capital raising

Antilles Gold (ASX:AAU) — Capital raising