Closing Bell: Afternoon delight as ASX rises on GDP and commodities

Pic: Getty

And it’s back-to-back gains for the ASX 200 after commodity prices and buying more stuff in December led to a smart 3.4% gain in quarterly GDP.

Heading into the close, US futures are on the up. Iron ore is smashing it – up almost 4% to a China-maddening $US145.

Oil prices are certainly spikey. In fact for the last 48 hours Brent crude has been having an upward spasm that’s driven it close to an eight-year high.

And Bitcoin, ahh Bitcoin.

May I be the first to say – *привет и добро пожаловать в россию!

It’s up about 6 more per cent to over $US44k.

And finally, the ASX Emerging Companies (XEC) index is 0.8% for the better.

*(hello and welcome to Russia)

TODAY’S BIGGEST SMALL CAP WINNERS

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

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

Code	Company	Price	%	Volume
MLS	Metals Australia	0.086	62.3%	60,743,973
WOO	Wooboard Tech Ltd	0.0015	50.0%	1,852,566
99L	99 Loyalty Ltd.	0.019	46.2%	3,442,466
MVP	Medical Developments	4.5	32.0%	876,743
CCE	Carnegie Cln Energy	0.0025	25.0%	3,327,153
TSC	Twenty Seven Co. Ltd	0.005	25.0%	388,978
ATR	Astron Corp Ltd	0.685	24.5%	113,761
WEL	Winchester Energy	0.021	23.5%	13,403,041
KFE	Kogi Iron Ltd	0.011	22.2%	2,607,200
COB	Cobalt Blue Ltd	0.56	21.7%	6,062,616
AXP	AXP Energy Ltd	0.0085	21.4%	19,556,786
HOR	Horseshoe Metals Ltd	0.04	21.2%	3,852,868
RD1	Registry Direct	0.018	20.0%	35,000
CT1	Constellation Tech	0.006	20.0%	1,921,460
ADY	Admiralty Resources.	0.019	18.8%	205,000
COY	Coppermoly Limited	0.013	18.2%	276,126
LLO	Lion One Metals Ltd	1.465	17.2%	9,236
JNO	Juno	0.105	16.7%	11,128
TAS	Tasman Resources Ltd	0.021	16.7%	1,336,848
ROG	Red Sky Energy	0.007	16.7%	3,350,002
IKW	Ikwezi Mining Ltd	0.6	16.5%	1,908
SMN	Structural Monitor.	0.6	16.5%	114,377
AZL	Arizona Lithium Ltd	0.145	16.0%	19,587,313

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Today’s Charlie Sheen stock is Golden Cross Resources (ASX:GCR) up like a champion on no discernable news other than really proving itself to be one of February biggest movers.

This formerly tepid, kind of snoozy China-backed copper-gold explorer came out of a two-and-a-half-year suspension in February and has been hitting them out of the middle of the bat a la Matthew Hayden or Justin Langer ever since.

Also higher today after reporting some “outstanding” lithium and rubidium rock chip results at its Manindi project in WA is Metals Australia (ASX:MLS).

Staying with the commodities – they’re like our best resource – Cobalt Blue(ASX:COB). The company’s Broken Hill cobalt project — the only large-scale, non-African, green-field primary-cobalt kicking-butt project in the world — has received Major Project Status (MPS) from the Federal Government.

CEO Joe Kaderavek says MPS will greatly assist COB raise cash – and generally get to tell everyone this here project is backed by the Australian Government.

“COB can now boast both Made in Australia and Backed by Australia.”

The $165 m market cap stock is up 25%. Also, the cobalt price recently hit $US34/lb.

TSX-ASX listed LionOne Metals (ASX:LLO) is up over 17% and has gone hard in developing the high-grade ~650,000oz Tuvatu gold project in Fiji.

There’s a bunch more rigs on site and LLO says it’s in the midst of ramping up infill and extensional drilling at the project.

There was $39m Canadian in the bank at the end of December.

Finally the Godolphin Resources (ASX:GRL) share price rallied up over 8% today after signing a farm-in and JV with ESX9 to earn up to a 75% interest in the Narraburra Rare Earth Element Project.

TODAY’S BIGGEST SMALL CAP LOSERS

(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
N1H	N1 Holdings Ltd	0.22	-31.3%	267,611
ANL	Amani Gold Ltd	0.0015	-25.0%	900,000
KEY	KEY Petroleum	0.003	-25.0%	2,753,352
NTL	New Talisman Gold	0.0015	-25.0%	500,996
IS3	I Synergy Group Ltd	0.28	-20.0%	19,935
ZBT	Zebit Inc.	0.04	-20.0%	93,333
CPM	Cooper Metals	0.525	-18.0%	1,476,082
HMI	Hiremii	0.046	-16.4%	177,967
IPB	IPB Petroleum Ltd	0.011	-15.4%	811,523
RIM	Rimfire Pacific	0.006	-14.3%	2,586,690
IXU	Ixup Limited	0.099	-13.9%	1,783,048
BSA	BSA Limited	0.125	-13.8%	870,838
HHR	Hartshead Resources	0.02	-13.0%	1,265,643
MEB	Medibio Limited	0.0035	-12.5%	293,885
RR1	Reach Resources Ltd	0.007	-12.5%	472,855
SW1	Swift Networks Group	0.014	-12.5%	104,100
TIG	Tigers Realm Coal	0.014	-12.5%	15,254,110
KNB	Koonenberrygold	0.105	-12.5%	669,338
RNO	Rhinomed Ltd	0.175	-12.5%	357,200
KAL	Kalgoorlie Gold Mining	0.15	-11.8%	12,678
PBH	Pointsbet Holdings	3.68	-11.8%	2,613,729
MAG	Magmatic Resrce Ltd	0.115	-11.5%	1,207,100
AHN	Athena Resources	0.008	-11.1%	1,395,509
POW	Protean Energy Ltd	0.008	-11.1%	1,250,000
SBR	Sabre Resources	0.004	-11.1%	500,000

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It’s not entirely clear who Amani (ASX:ANL) pissed off today, but they’re down 50% and it’s not looking terrific.

ANNOUNCEMENTS YOU MAY’VE MISSED

Mighty Kingdom Limited (ASX:MKL) with their co-development partners Funcom Oslo AS today released Conan Chop Chop.

That’s a game available on PC, Xbox, PlayStation and Nintendo Switch and it is ‘hotly anticipated.’
It’s also Mighty Kingdom’s first developed for console and PC. After a successful playable debut at last week’s ‘Steam Next Fest’, Conan Chop Chop was ranked 1 for upcoming Action Rogue-Like Games.

Allied health services provider Healthia (ASX:HLA) says it’s settled its acquisition of eight LensPro Optometrists in South East Queensland for near $7m – it’s Healthia’s largest takeover since The Optical Company in 2020, with its more than 41 locations.