• ASX closes up ~1%, while XEC rises 1.21% following global markets higher
  • Rabobank expects the RBA to raise rates by 0.25% at its April meetig
  • Alice Queen gets funding boost from Queensland Government for Horn Island exploration


The positive lead from the overnight US and European equity markets helped lift the Australian share market, with the S&P/ASX 200 closing ~1% higher to 7,113.90 points.

The S&P/ASX Emerging Companies index (XEC) – a benchmark for Australia’s micro-cap companies – was up 1.21%.

All sectors were in the green except real estate, which fell 0.25%. Leading the sectors was IT up 1.59%, followed by financials up 1.29% and materials which rose 1.28%.

Meanwhile, predictions are starting to come in as to what the Reserve Bank of Australia (RBA) will do with interest rates when it meets for its April meeting next Tuesday after the Aussie inflation rate for February was lower than expected, with a rate of 6.8% compared to the forecasted 7.2%.

Rabobank’s global economic and market research department said it remains their view that the RBA will hike rates by a further 0.25% or 25bps in April to take the cash rate to 3.85% ahead of a possible pause in May.

“The quarterly inflation data released on April 26th will be decisive for informing the actions of the central bank at the May board meeting,” senior strategist Raboresearch global economics and markets Ben Picton said.

“In the meantime, the softer headline inflation print for the month of February will not be sufficient for the RBA to abandon their tightening bias as labour market indicators, forward indicators and the still comparatively high level of inflation all point to the need for further tightening.”



Here are the best performing ASX small cap stocks:

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Code Company Price % Volume Market Cap
GGX Gas2Grid Limited 0.002 100% 7,500 $4,077,102
SIH Sihayo Gold Limited 0.002 100% 100,000 $6,102,128
AQX Alice Queen Ltd 0.0015 50% 1,880,000 $2,530,288
CCE Carnegie Cln Energy 0.0015 50% 10,686,434 $15,642,574
CLZ Classic Min Ltd 0.0015 50% 9,294,146 $2,437,440
PRM Prominence Energy 0.0015 50% 1,324,527 $2,424,609
BEZ Besra Gold 0.145 45% 10,788,324 $35,386,189
PYR Payright Limited 0.021 40% 51,283 $8,433,648
ADR Adherium Ltd 0.004 33% 150,192 $14,989,315
YPB YPB Group Ltd 0.004 33% 300,000 $1,857,747
RFX Redflow Limited 0.295 31% 674,640 $40,436,856
IXU Ixup Limited 0.035 30% 271,373 $27,958,302
GRV Greenvale Energy Ltd 0.12 25% 983,859 $40,893,768
KED Keypath Education 0.85 25% 3,930 $145,300,851
TZN Terramin Australia 0.021 24% 1,001,153 $35,981,566
ARR American Rare Earths 0.255 21% 12,513,082 $93,739,968
LVT Livetiles Limited 0.0255 21% 1,296,604 $21,990,480
REE Rarex Limited 0.057 21% 13,768,122 $27,231,169
AFW Applyflow Limited 0.018 20% 125,389 $2,218,210
PVT Pivotal Metals Ltd 0.036 20% 1,511,201 $14,234,313
EFE Eastern Resources 0.012 20% 6,914,991 $12,419,465
KPO Kalina Power Limited 0.012 20% 2,354,083 $15,151,958
NZS New Zealand Coastal 0.003 20% 2,810,125 $4,135,025
RML Resolution Minerals 0.006 20% 500,000 $5,398,731
NHE Noble heliuml 0.255 19% 865,447 $26,526,582
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Among the winners today was advanced gold and copper explorer Alice Queen (ASX:AQX) which announced the Queensland Government had approved the maximum $250,000 amount under the Queensland, Collaborative Exploration Initiative (CEI) for Critical Minerals.

The grant was for the AQX’s Horn Island Project, in the Torres Strait. AQX said the emerging copper zone (critical mineral) at Horn Island warrants further targeted drilling to test for strengthening copper at depth.

The company said the funding will be allocated to direct costs associated with drilling and geochemical analysis at Horn Island.

Also on the winners list was oil and gas explorer and producer Prominence Energy (ASX:PRM) which came out of a trading halt and announced it’s the high bidder on two blocks in the USA Outer Continental Shelf (OCS) Federal Bid Round 259.

PRM submitted bids for two adjacent lease blocks located on the OCS off Texas in ~75m (250ft) of water. Together they cover an area of 11,520 acres (~46km2).

PRM bid on the basis of mapping and AVO analysis of seismic in the blocks, which it said identified a high potential and sizeable gas prospect.

The AVO analysis shows two sands with Class III AVO anomalies (a strong indication of a gas filled sand).



Here are the worst performing ASX small cap stocks:

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Code Company Price % Volume Market Cap
SCU Stemcell United Ltd 0.005 -62% 51,443,151 $16,916,037
AXP AXP Energy Ltd 0.002 -33% 23,800,010 $17,474,042
MCT Metalicity Limited 0.002 -33% 897,144 $10,513,618
TYM Tymlez Group 0.008 -33% 17,590,735 $13,106,344
MRR Minrex Resources Ltd 0.016 -30% 30,440,104 $24,951,953
BFC Beston Global Ltd 0.016 -27% 29,171,361 $43,935,032
OLI Oliver'S Real Food 0.025 -26% 629,111 $14,984,885
LNU Linius Tech Limited 0.003 -25% 808,799 $12,918,985
RMX Red Mount Min Ltd 0.003 -25% 345,012 $9,087,404
SRJ SRJ Technologies 0.062 -23% 24,000 $7,570,814
DM1 Desert Metals 0.11 -21% 134,090 $10,155,751
CTO Citigold Corp Ltd 0.004 -20% 9,246 $14,168,295
M2M Mt Malcolm Mines 0.038 -19% 158,078 $2,926,972
RCR Rincon 0.06 -19% 160,329 $5,011,698
MME Moneyme Limited 0.086 -18% 5,643,738 $29,740,959
M24 Mamba Exploration 0.115 -18% 1,493,157 $8,537,667
ID8 Identitii Limited 0.02 -17% 392,787 $5,097,689
XST Xstate Resources 0.01 -17% 679,728 $3,858,230
MOH Moho Resources 0.016 -16% 472,104 $3,945,582
MVL Marvel Gold Limited 0.016 -16% 5,494 $13,396,793
SIO Simonds Grp Ltd 0.09 -14% 109,126 $37,790,177
AD1 AD1 Holdings Limited 0.006 -14% 175,677 $4,905,119
C1X Cosmos Exploration 0.33 -14% 827,557 $15,005,375
CPT Cipherpoint Limited 0.006 -14% 805,333 $8,005,717
GNM Great Northern 0.003 -14% 200,000 $5,981,678
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WRKR (ASX:WRK) has announced acting interim CEO Trent Lund has been appointed to the top job permanently. Lund has been acting as interim CEO of Wrkr, since April 2021 and has been a director of Wrkr since January 2021.

Wrkr is a RegTech company assisting workers, employers, members, and their superannuation funds in meeting their regulatory compliance across the hire to retire lifecycle.

The play for HR-services provider intelliHR Limited (ASX: IHR) continues with the company announcing its independent board committee (IBC) considers the Humanforce 22 cent/share bid to be a superior proposal to British software group TAG.

IHR announced yesterday it had entered into Transaction Implementation Deed with Access Workspaces Pty Ltd, a wholly owned subsidiary of TAG.

Today IHR said after yesterday’s announcement, Humanforce’s broker for its on-market takeover offer released an announcement revising Humanforce’s on-market takeover bid announced on March 17, 2023, from 19.5 cents to 22 cents/share.

IHR said in context of the Humanforce 22 cent bid being a cash offer immediately available to shareholders, the IBC considers it to be a superior proposal  to the TAG offer announced yesterday.

IHR’s Transaction Implementation Deed with TAG contains a matching right procedure, which the company is invoking.

Contact Energy (ASX:CEN) has has set the interest rate for its offer of 6-year fixed rate, unsecured, unsubordinated green bonds.

CEN said the interest rate for the Green Bonds has been set at 5.62% p.a,  reflecting an issue margin of 1.35% p.a plus the base rate.

The Green Bonds will be issued on April 6, 2023 and will mature on April 6, 2029. The bonds will be quoted on the NZX Debt Market under the ticker code CEN080 on April11,  2023.



Hubify (ASX:HFY) – Variation and termination of a material agreement.

Sarama Resources (ASX:SRR) – Pending announcement of a capital raise.

Evion Group (ASX:EVG) – Also pending a cap raise announcement.

Theta Gold Mines (ASX:TGM) – Pending announcement of a funding update.

Geopacific Resources (ASX:GPR) – Also a pending announcement of a cap raise.

Raiden Resources (ASX:RDN) – Announcement relating to a mineral resource on the Mt Sholl Project and yep also a cap raise.

Top End Energy (ASX:TEE) – Update on Native Title negotiations for purpose of achieving grant of permit EP (A) 258.