- The S&P/ASX 200 and S&P XEC both close around 0.3% lower on last trading day before Easter
- GBM Resources finalises second tranche of a $10 million convertible note agreement
- Singular Health rises after positive update on its wholly-owned subsidiary Singular 3DP
Just as the markets fell on the last trading day before Christmas, they have dropped again today on the final trading day before the Easter break. The ASX still managed a gain over the short four-day week.
Today the S&P/ASX 200 closed down ~0.3% while the the S&P/ASX Emerging Companies index (XEC) – a benchmark for Australia’s micro-cap companies – fell 0.34%.
Leading the winners was health care up 1.61% followed by utilities which rose 1.04% and consumers staples up 0.33%. The ASX tech sector followed the lead of the Tech heavy NASDAQ and led the laggards dropping 2.52%, followed by real estate down 1.57% and consumer discretionary which dropped 1.29%.
It was a mixed session of trade in the US with NASDAQ falling 1.07%. the S&P 500 down 0.25% but the Dow rising 0.24%.
Good and bad news for gold which managed to breakthrough the psychologically US$2000/oz barrier this week. The precious metal price is down 0.31% today but is above the US$2000/oz mark at US$2029/oz.
The S&P/ASX All Ordinaries Gold Index (ASX:XGD) closed 0.47% higher.
ASX SMALL CAP LEADERS
Here are the best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MTL | Mantle Minerals Ltd | 0.003 | 50% | 7,618,599 | $10,691,210 |
| VPR | Volt Power Group | 0.0015 | 50% | 2,000,045 | $10,716,208 |
| IS3 | I Synergy Group Ltd | 0.022 | 47% | 373,805 | $4,336,206 |
| LER | Leaf Res Ltd | 0.022 | 47% | 4,173,252 | $27,150,583 |
| COO | Corum Group Limited | 0.048 | 41% | 358,380 | $20,310,981 |
| G88 | Golden Mile Res Ltd | 0.019 | 36% | 9,496,807 | $3,688,051 |
| SHG | Singular Health | 0.09 | 30% | 351,034 | $7,827,817 |
| ANR | Anatara Ls Ltd | 0.039 | 30% | 44,807 | $3,597,720 |
| SHN | Sunshine Gold Ltd | 0.018 | 29% | 1,602,532 | $10,776,118 |
| ERA | Energy Resources | 0.06 | 26% | 4,016,359 | $175,370,233 |
| CPM | Cooper Metals | 0.345 | 25% | 468,391 | $11,301,125 |
| OZM | Ozaurum Resources | 0.061 | 24% | 486,949 | $6,223,000 |
| GLA | Gladiator Resources | 0.021 | 24% | 1,372,518 | $9,284,888 |
| PLG | Pearlgullironlimited | 0.037 | 23% | 45,000 | $4,692,487 |
| ECT | Env Clean Tech Ltd | 0.011 | 22% | 3,730,795 | $22,289,495 |
| WMG | Western Mines | 0.385 | 22% | 10,476,790 | $12,925,238 |
| HOR | Horseshoe Metals Ltd | 0.029 | 21% | 3,850,427 | $15,166,629 |
| AQC | Auspa Coal | 0.175 | 21% | 466,662 | $50,360,088 |
| PHO | Phosco Ltd | 0.084 | 20% | 72,708 | $19,208,935 |
| INP | Incentiapay Ltd | 0.006 | 20% | 228,725 | $6,325,318 |
| MTB | Mount Burgess Mining | 0.003 | 20% | 4,302,143 | $2,207,928 |
| OAU | Ora Gold Limited | 0.003 | 20% | 5,600,000 | $9,842,313 |
| KLL | Kalium Lakes Ltd | 0.031 | 19% | 6,015,573 | $52,824,518 |
| ARC | ARC Funds Limited | 0.25 | 19% | 10,000 | $6,316,034 |
| GCY | Gascoyne Res Ltd | 0.125 | 19% | 3,255,848 | $72,832,001 |
Among small cap winners today was Sunshine Gold (ASX:SHN) which announced return of further high-grade gold, silver and critical minerals at the Wilbur’s Hill and Cardigan Dam targets, Ravenswood West Project.
Sampling of a shear zone immediately adjacent to the Wilbur’s Hill breccia gold target has returned high-grade gold (Au) and silver (Ag) results including highly anomalous critical minerals bismuth (Bi) and indium (In).
Other gold-exposed stocks to ink solid gains today included Cooper Metals (ASX:CPM), Ora Gold (ASX:OAU), Ozaurum Resources (ASX:OZM), and failed miner Gascoyne Resources (ASX:GCY).
Singular Health (ASX:SHG) also had a solid Easter Thursday after providing a positive operational update on its wholly-owned subsidiary Singular 3DP. Highlights included:
- Receipt of ISO9001 Certification, multiple TGA Class I Approvals for Orthotics and Prosthetics and initial sales orders in medical sector
- Investment in post-processing plant and equipment with commissioning imminent
- Appointment as authorised resellers of non-metal 3D printers for 3D Systems, a global 3D printer manufacturer, and DyeMansion GmbH for post-processing hardware
- Recent purchase orders of ~A$510,000 with strong multi-million-dollar pipeline of industrial 3D printing services and hardware sales
- R&D Funding Facility with Radium Capital advances $420,000 R&D Tax Incentive.
ASX SMALL CAP LAGGARDS
Here are the least best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| CLZ | Classic Min Ltd | 0.001 | -50% | 121,695,868 | $4,874,879 |
| NOX | Noxopharm Limited | 0.066 | -40% | 6,223,059 | $32,146,175 |
| AQX | Alice Queen Ltd | 0.001 | -33% | 10,650,000 | $3,795,431 |
| HHI | Health House Int Ltd | 0.006 | -25% | 311,875 | $1,130,637 |
| DME | Dome Gold Mines Ltd | 0.15 | -23% | 77,992 | $68,876,757 |
| DCL | Domacom Limited | 0.04 | -22% | 704,172 | $22,210,590 |
| GFN | Gefen Int | 0.025 | -19% | 45,000 | $2,111,104 |
| CTO | Citigold Corp Ltd | 0.005 | -17% | 500,000 | $17,241,955 |
| EDE | Eden Inv Ltd | 0.005 | -17% | 2,788,816 | $17,588,666 |
| RIE | Riedel Resources Ltd | 0.005 | -17% | 190,530 | $8,230,242 |
| SCL | Schrole Group Ltd | 0.295 | -16% | 6,016 | $12,396,785 |
| ASO | Aston Minerals Ltd | 0.11 | -15% | 2,976,763 | $144,915,021 |
| DM1 | Desert Metals | 0.11 | -15% | 156,161 | $9,430,340 |
| PXX | Polarx Limited | 0.011 | -15% | 2,085,580 | $17,588,310 |
| EX1 | Exopharm Limited | 0.012 | -14% | 321,850 | $2,200,961 |
| PIL | Peppermint Inv Ltd | 0.006 | -14% | 170,313 | $14,264,998 |
| SFG | Seafarms Group Ltd | 0.006 | -14% | 9,023,615 | $33,856,194 |
| WEL | Winchester Energy | 0.006 | -14% | 591,071 | $7,142,953 |
| AXI | Axiom Properties | 0.055 | -14% | 71,200 | $27,693,674 |
| GTE | Great Western Exp. | 0.039 | -13% | 525,000 | $8,165,165 |
| CYP | Cynata Therapeutics | 0.23 | -13% | 228,273 | $37,968,297 |
| XF1 | Xref Limited | 0.2 | -13% | 27,406 | $42,820,546 |
| GWR | GWR Group Ltd | 0.076 | -13% | 788,637 | $27,945,849 |
| KNM | Kneomedia Limited | 0.007 | -13% | 500,000 | $12,038,283 |
LAST ORDERS
GBM Resources Limited (ASX:GBZ) has announced it has completed the second tranche of its $10 million convertible note agreement with Collins St Convertible Note Fund.
The issue of the second note was completed on January 3, 2023 but subject to finalisation of security documentation which was revised to accommodate the sale of GBM’s remaining 50% interest in the Malmsbury Gold Project. Sale proceeds of ~$2.6 million will be used as a partial repayment and security on the second note.
“The $10 million convertible note funding package has allowed GBM to advance realisation of value from the sale of its non-core assets in a way that maximises value for shareholders.,” GBZ managing director and CEO Peter Rohner said.
He said it has allowed GBM to continue to advance its flagship Drummond Basin gold projects and to substantially add to the JORC resource which currently stands at 45.6 million tonnes @ 1.26 g/t gold for 1.85 million ounces.
“With our current note, our team is extremely excited to help add and grow shareholder wealth via systematic value add initiatives to be conducted by the team at GBM,” CSVF co-founder and chief investment officer Vas Piperoglou said.
And Kingsgate Consolidated (ASX:KCN) has found more gold only a few kilometres from the Chatree gold mine. The followup drilling results didn’t live up to those announced earlier this year — including a highlight 26m@3.02 g/t Au — with the best results including 4m@2.01 g/t Au from 37m to 41m.
However, some RAB drilling just south of this program returned some solid numbers, including 8m@5.02 g/t Au from 6m to 14m; and 10m@1.97 g/t Au from 9m to 19m.
TRADING HALTS
Site Group International (ASX:SIT) – Pending outcome of the Federal Court appeal against decision of the trial judge that its subsidiary Productivity Partners Pty Ltd engaged in conduct in breach of Australian Consumer Law in proceedings started by ASIC.
Norwest Energy NL (ASX:NWE) – Pending announcement about drilling results of the Lockyer 2 conventional gas appraisal well.
Lion One Metals (ASX:LLO) – Pending announcement of exploration results.
Arafura Rare Earths (ASX:ARU) – Pending announcement regarding execution of a binding offtake agreement.