Looking the goods ahead of the open, the ASX has been given a hideous Monday haircut, down about 1%, after the White House floated a thought bubble on slapping Russia with an oil embargo.

Offshore markets have now overcome their initial panic, but the die was well cast early on amid surging oil prices.

At home, and down more than 1.5%, the ASX Emerging Companies index (XEC) also had a bit of a Monday Mullet really – short on tech and growth at the front, but with some big, gold locks and full of energy at the back.

Emerging markets (XEC): short growth stocks but with big energy at the back

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Investors were pumped – hell, even I’m pumped about Stanmore Resources (ASX:SMR), which managed to sell its full quota of shares in connection with the US$1.2bn acquisition of BHP’s Queensland coal prices.

Deputy Editor Sam Jacobs walks you through the paper-profit here, but up over 56% in Monday trade says it all.

And out of a trading halt is Structural Monitoring Systems (ASX:SMN), which only got its spurs back to the ASX on February 25 and has ripped higher on some key regulatory news from the US Federal Aviation Administration (FAA).

“This approval marks an extraordinary milestone in aviation history, the first-ever in the world regulatory agency approved sensor technology validated and certified for detecting critical structural cracks on aircraft,” SMN said.

That means, we did good and we’re up about 46%

TODAY’S BIGGEST SMALL CAP LOSERS

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

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ANNOUNCEMENTS YOU MAY HAVE MISSED

Metals Australia (ASX:MLS) has completed a $7.8 million capital raise with sophisticated and professional investors to accelerate exploration and resource drilling at the Manindi Lithium Project, where sampling has produced positive results.

Funds will also be used to fast-track down stream metallurgical testingvat its Lac Rainy Graphite Project in Canada.

Tamboran Resources (ASX:TBN) has won a $7.5 million through the Commonwealth Government’s Beetaloo Cooperative Drilling Program to support drilling of the Maverick 1H (M1H) well, located within the Core Beetaloo Sub-basin during the calendar year.

Subject to the delivery of commercial flow rates from the M1H1 well, which is planed to spud around June, Tamboran intends to accelerate the Maverick Pilot Development with a target of delivering gas to the Australian domestic market by the end of calendar year 2025.

And Health Imaging company Mach 7 (ASX:M7T) has announced more work with two existing US-based customers Trinity Health and Penn State Milton S. Hershey Medical Centre.

The first deployment wave of Trinity Health’s Unified Clinical Imaging Platform will see Mach7’s Enterprise Imaging Platform Universal Worklist, eUnity Enterprise viewer and eUnity Diagnostic Viewer implemented at its facilities across southeast Michigan.

Penn State has signed a contract renewal and license expansion for the Mach7 Enterprise Imaging Platform. The renewal has a two-year term and will cover 575k procedures annually.

TRADING HALTS

The following companies went into trading halts on Monday and are expected to exit in the coming days.

Tower Ltd (ASX:TWR) — Capital return to shareholders
Pioneer Credit (ASX:PNC) — Share placement
Calidus Resources (ASX:CAI) — Lithium exploration results

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