• ASX 200 up for the fourth consecutive day today 
  • Small cap index falls 0.44% and 9 out 11 sectors finish higher
  • Labour market data wants seniors out of the workforce to jump back in


The ASX200 was up 0.20% today, finishing on a high for the fourth consecutive day, but the ASX Emerging Companies (XEC) index was 0.37% lower.

A total of 9 out of 11 underlying sectors were in the green, with Utilities the strongest sector, rallying by 1.20%. Meridian Energy (ASX:MEZ) jumped 3.73%, Origin Energy (ASX:ORG) was up 0.51%, and Mercury NZ (ASX:MCY) rose a tidy 4.42%.

Materials (mining) was the biggest loser, with Pilbara Minerals (ASX:PLS) and Mineral Resources (ASX:MIN) taking a 6.49% and 4.37% hit respectively.

Regional labour market data was released today and in October 2022, the Southern Highlands and Shoalhaven was recorded as having a jobless rate of zero. 

Nineteen of 87 regions (SA4 regions) have unemployment rates of 2% or below. 

The good news is that the number of people not in the labour force – which has the disturbing acronym ‘NILF’ – has fallen to 7.15 million since peaking at 7.75 million in May 2020. 

The biggest proportion of NILFs are senior Australians, CBA chief economist Craig James says.

Those seniors are probably pretty happy to not be working after a lifetime of, well, working, and they’re probably thrilled with the nickname NILFs.


“The job market is super-tight and the risk is that wage pressures may build from here,” James said.

“At present the Reserve Bank is not concerned about the lift in annual wage growth to around 3%. 

“The thinking is that 3.5% wage growth and 1% growth in productivity is consistent with 2-3% inflation. 

“But structurally the job market has tightened – baby boomers are not being replaced in the same numbers by other demographic groups. 

“That means businesses need to get used to 3-4% jobless rates.”

James says is if more of our senior Australians could be tempted back into work, some wage and job market pressures could be eased. 

In October 2022, a record 39.6% of NILFs were those aged 65 and over who were permanently not intending to work because they’re running out of runway and would rather spend their dotage pottering around the garden and spending their kids’ inheritance.

“Changes to tax, pension and superannuation laws could encourage older Australians back into the paid workforce,” James reckons.

Good luck with that.



Here are the best performing ASX small cap stocks:

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Code Company Price % Volume Market Cap
MEB Medibio Limited 0.0015 50% 717,479 $3,320,594
HAW Hawthorn Resources 0.14 40% 634,239 $33,351,561
AUK Aumake Limited 0.004 33% 2,513,782 $2,314,341
MGG Mogul Games Grp Ltd 0.002 33% 262,438 $4,895,162
TSC Twenty Seven Co. Ltd 0.002 33% 20,000 $7,982,442
OAR OAR Resources Ltd 0.0065 30% 5,109,061 $11,055,189
AV1 Adveritas Ltd 0.1025 30% 2,111,399 $37,138,572
JTL Jayex Technology Ltd 0.0075 25% 6,010,614 $1,495,371
EWC Energy World Corpor. 0.05 25% 2,716,494 $104,325,388
DW8 DW8 Limited 0.0025 25% 11,258,206 $6,203,045
KFE Kogi Iron Ltd 0.005 25% 12,047,190 $6,528,311
SIH Sihayo Gold Limited 0.0025 25% 4,144,300 $12,204,256
ROC Rocketboots 0.115 24% 62,229 $2,952,750
EML EML Payments Ltd 0.65 23% 16,839,346 $198,211,588
LCL Los Cerros Limited 0.044 22% 36,121,956 $23,423,359
HCT Holista CollTech Ltd 0.03 20% 20,000 $6,970,002
CHK Cohiba Min Ltd 0.006 20% 9,003,911 $8,138,304
PKD Parkd Ltd 0.024 20% 1,789,669 $2,004,003
EQS Equitystorygroupltd 0.05 19% 98,000 $1,549,371
WOA Wide Open Agricultur 0.32 19% 241,895 $34,757,579
TSL Titanium Sands Ltd 0.013 18% 72,642 $15,470,376
HRE Heavy Rare Earths 0.165 18% 70,910 $8,328,310
ELE Elmore Ltd 0.021 17% 469,168 $19,958,175
IVZ Invictus Energy Ltd 0.29 16% 17,202,015 $219,605,710
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The biggest winner was was fraud prevention software player Adveritas (ASX:AV1) which received a conditional non-binding indicative proposal from NASDAQ listed Integral Ad Science, a global leader in digital ad verification, to acquire AV1 for $0.11 cash per share.

They were slim on the details but the board intends to consider the indicative proposal and will proceed to a definitive agreement if it believes a transaction should be put to shareholders for approval.

Energy World Corporation (ASX:EWC) announce plans for a non-renounceable pro-rata entitlement offer to raise $54.5m to refurbish its gas processing facility at Eromanga and bring it back into production; 

The funds will also be used to purchase the remaining Right of Way required for the 250kva transmission line that will connect the Philippines Pagbilao power facility to the main grid at NGCPs new regional substation and to complete construction of the 12 km the aforementioned 250kva transmission line.

And advanced South American gold stock has Los Cerros (ASX:LCL) diversified, inking a deal to buy five large projects in PNG prospective for copper, nickel, and gold from private company Footprint Resources.

It gives LCL some juicy exploration targets to play with, in a jurisdiction known for its monster mineral deposits.

It also gives the company options as it waits for “greater clarity on new government mine development policies” in Colombia, where left-leaning Gustavo Petro won Colombia’s June 19 presidential election.

LCL’s 2.6Moz Quinchia project in Colombia is currently the focus of low-cost project development studies.

“This transformational addition to the Los Cerros mineral portfolio offers immediate and material exploration upside as well as jurisdictional and metal diversity, in particular the addition of critical metals to the electric vehicle sector,” managing director Jason Stirbinskis says.

“It also ensures we play to our strengths as successful explorers while our Quinchia project migrates to engineering/development studies.

“I have walked the ground over the key projects and the near term prospectivity of our new PNG portfolio is compelling.

“We are particularly excited to welcome Glenn and John to the company as they bring extensive PNG geological experience, are aligned to our ESG priorities and equip Los Cerros with a unique strategic and technical advantage in both PNG and Colombia across various mineralisation styles.”



Here are the least performing ASX small cap stocks:

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Code Company Price % Volume Market Cap
BPH BPH Energy Ltd 0.0205 -34% 98,039,636 $26,755,006
NNG Nexion Group 0.054 -33% 1,248,751 $6,469,680
99L 99 Loyalty Ltd. 0.013 -32% 98,550 $22,033,972
CCX City Chic Collective 0.985 -29% 16,035,268 $322,368,920
CCE Carnegie Cln Energy 0.0015 -25% 3,131,293 $31,285,147
GES Genesis Resources 0.006 -25% 300,000 $6,262,730
WBE Whitebark Energy 0.0015 -25% 706,634 $12,929,772
MRQ Mrg Metals Limited 0.004 -20% 2,207,800 $8,735,293
MTH Mithril Resources 0.004 -20% 300,000 $14,701,165
TAS Tasman Resources Ltd 0.008 -20% 2,500,000 $6,711,526
QUE Queste Communication 0.025 -19% 1,196,200 $839,242
OEQ Orion Equities 0.15 -19% 13,878 $2,895,107
AVM Advance Metals Ltd 0.01 -17% 200,000 $5,784,529
MHC Manhattan Corp Ltd 0.005 -17% 170,000 $9,157,672
BCK Brockman Mining Ltd 0.023 -15% 93,826 $250,566,268
ATU Atrum Coal Ltd 0.006 -14% 1,666,667 $9,679,157
CAG Caperangeltd 0.12 -14% 17,754 $13,287,162
LKY Locksleyresources 0.06 -14% 2,041 $2,411,308
RBR RBR Group Ltd 0.003 -14% 142,857 $4,527,259
IRX Inhalerx Limited 0.054 -14% 300,000 $11,797,818
AFL Af Legal Group Ltd 0.125 -14% 273,936 $11,097,781
OCL Objective Corp 12.98 -14% 1,317,369 $1,429,884,655
DMM Dmcmininglimited 0.13 -13% 704,049 $4,305,000
PEN Peninsula Energy Ltd 0.135 -13% 23,485,129 $154,794,256
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Anova Metals (ASX:AWV) – pending material project acquisition.

Quantum Graphite (ASX:QGL) – pending results of testing on samples of Uley Graphite.

St George Mining (ASX:SGQ) – capital raising.

Renascor Resources (ASX:RNU) – pending an announcement regarding a Regulatory Approval in respect of the Siviour Graphite Project. 

WA Kaolin (ASX:WAK) – capital raising.

Thor Mining (ASX:THR) – capital raising.