It was a lacklustre session for local stocks in Tuesday trade, as the ASX 200 limped into the close with a fall of 0.77% while the microcap Emerging Companies index traded flat.
In an environment of rising bond yields, the broader tone is still risk-off, with US stock futures providing no clear direction as to what might happen on Wall Street tonight.
In Australia, markets were dragged lower by consumer stocks — from the major grocers to retail stores — as more companies report staff shortages and supply chain disruptions due to the rapid spread of Omicron.
Crypto markets drifted sideways in Asian trade, as Bitcoin and Ethereum look to hold above key support levels of US$40,000 and US$3,000 respectively.
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 |
---|---|---|---|---|
NPM | Newpeak Metals | 0.002 | 100.0% | 643,770 |
VMG | VDM Group Limited | 0.002 | 100.0% | 1,302,779 |
WOO | Wooboard Tech Ltd | 0.002 | 33.3% | 1,604,512 |
MDI | Middle Island Res | 0.16 | 28.0% | 2,295,971 |
CCE | Carnegie Cln Energy | 0.0025 | 25.0% | 7,803,952 |
CGB | Cann Global Limited | 0.0025 | 25.0% | 6,074,396 |
EN1 | Engage:Bdr Limited | 0.0025 | 25.0% | 1,000,000 |
PCL | Pancontinental Energ | 0.0025 | 25.0% | 56,186,070 |
PNV | Polynovo Limited | 1.785 | 24.8% | 8,932,292 |
ROO | Roots Sustainable | 0.006 | 20.0% | 796,648 |
QXR | Qx Resources Limited | 0.045 | 18.4% | 30,394,808 |
PRM | Prominence Energy | 0.0105 | 16.7% | 13,641,593 |
DDD | 3D Resources Limited | 0.0035 | 16.7% | 2,175,000 |
GNM | Great Northern | 0.007 | 16.7% | 308,494 |
MBK | Metal Bank Ltd | 0.007 | 16.7% | 2,104,707 |
ZNO | Zoono Group Ltd | 0.46 | 16.5% | 738,886 |
FRS | Forrestaniaresources | 0.4 | 15.9% | 650,112 |
ESS | Essential Metals Ltd | 0.295 | 15.7% | 16,703,880 |
PF1 | Pathfinder Resources | 0.335 | 15.5% | 186,056 |
HCD | Hydrocarbon Dynamic | 0.015 | 15.4% | 200,285 |
NAE | New Age Exploration | 0.015 | 15.4% | 80,761,743 |
VOR | Vortiv Ltd | 0.03 | 15.4% | 231,122 |
AR1 | Australresources | 0.19 | 15.2% | 266,646 |
MGT | Magnetite Mines | 0.038 | 15.2% | 40,005,286 |
QGL | Quantum Graphite | 0.19 | 15.2% | 493,003 |
Investors cheered on a trading update from ~$1bn biotech Polynovo (ASX:PNV), after the medical devices company reported strong conditions at its US operations. The company increased its quantum of sales accounts in the US to 154, and monthly sales for Novosorb — its patented bioabsorbable polymer technology — rose above US$2m for the first time in December.
Cybersecurity firm Vortiv (ASX:VOR) also gained ground, after advising that its India-based subsidiary Transaction Solutions International (India) Pvt. Ltd is on track to book EBITDA of $9.5m – $10.5m in FY22. “Management have also advised that TSI has been short listed for several new ATM contracts, further announcements will be made in due course,” Vortiv said.
And lithium/gold play Essential Metals (ASX:ESS) went on a run to 30.5c, with the stock now having almost doubled since December 20 on minimal news flow. Today’s rally prompted a price query from the ASX, to which ESS responded that it wasn’t aware of any news which would prompt the surge.
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 WCN White Cliff Min Ltd 0.0185 -26.0% 27,347,000 ALT Analytica Limited 0.0015 -25.0% 250,000 ANL Amani Gold Ltd 0.0015 -25.0% 15,581,258 NTL New Talisman Gold 0.0015 -25.0% 1,253,900 RCR Rincon 0.14 -20.0% 189,550 MSI Multistack Internat. 0.04 -18.4% 160,128 IRX Inhalerx Limited 0.083 -17.0% 16,524 YPB YPB Group Ltd 0.0025 -16.7% 521,557 BMO Bastion Minerals 0.205 -16.3% 163,861 MAD Mader Group Limited 1.98 -14.7% 101,877 PNX PNX Metals Limited 0.006 -14.3% 13,636,000 M2M Mt Malcolm Mines 0.125 -13.8% 296,781 GWR GWR Group Ltd 0.19 -13.6% 811,679 ARB ARB Corporation. 46.15 -12.6% 732,503 T3D 333D Limited 0.0035 -12.5% 4,978,483 TMX Terrain Minerals 0.007 -12.5% 335,086 TPD Talon Energy Ltd 0.007 -12.5% 2,224,295 KFM Kingfisher Mining 0.21 -12.5% 2,542,006 FAU First Au Ltd 0.0105 -12.5% 4,176,954 BXN Bioxyne Ltd 0.025 -12.3% 111,852 ASP Aspermont Limited 0.022 -12.0% 151,800
ANNOUNCEMENTS YOU MAY HAVE MISSED
Semiconductor technology company Brainchip (ASX:BRN) is surging again on strong volumes, climbing to new all-time highs above $1 from the ~40c level in early October. The company — which develops semiconductor technology based on the neural pathways in the brain — was identified in research last year as one of 11 ASX ‘meme stonks’. The recent gains follow a steady run of patent updates and licensing agreements in Q4. The increased trading activity prompted a query from the ASX this morning, to which BRN said it wasn’t aware of any recent news to prompt the surge. At today’s close of $1.08, BRN shares are up more than 2,500% since March 30, 2020.
Shortly after midday EST, Mt Malcom Mines (ASX:M2M) said reverse circulation drilling had uncovered further shallow gold mineralisation at its Golden Crown project. However, shares in the company fell by more than 10% in afternoon trade to 12.5c — off M2M’s 12-month highs of almost 20c reached last year.
Explorer Orion Minerals (ASX:ORN) climbed by around 4%, after reporting assay results from the first four drill holes of its maiden drilling program at the Okiep copper project in South Africa. ORN said the results exceeded expectations. “Three holes were drilled to confirm historically reported mineralisation, returning high-grade results including 10.36m at 1.84% Cu, 5.71m at 1.93% Cu and 4.69m at 2.05% Cu,” the company said.
TRADING HALTS
The following companies went into trading halts today and are expected out in the next few days:
OZZ Resources (ASX:OZZ) — tenement acquisition
Liontown Resources (ASX:LTR) — offtake agreement
Elsight (ASX:ELS) — commercial purchase order
Zenith Minerals (ASX:ZNC) – Alliance and JV over ZNC’s lithium projects
Iris Metals (ASX:IR1) – material acquisition
Xantippe Resources (ASX:XTC) – material acquisition
Compumedics (ASX:CMP) – material contract announcement
Emerald Resources (ASX:EMR) – takeover
PVW Resources (ASX:PVW) – rare earths exploration results
Castle Minerals (ASX:CDT) – capital raising
Pacgold (ASX:PGO) – drilling results