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Closing Bell: ASX makes it two-for-two as another resources IPO surges
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It’s been a topsy turvy week, as local markets followed the lead of US stocks which in turn got rattled by the latest round of policy-tightening machinations by the US Federal Reserve.
But after three straight losing sessions, the good vibes returned on Friday as the ASX microcap Emerging Companies index posted a gain of around 1%.
Local investors flocked to a hot new IPO for the second straight session, as Noble Helium (ASX:NHE) almost doubled up with an auspicious debut.
Small cap resources stocks populated the bulk of the Friday winner’s list, following the big end of town where uranium plays and gold stocks had a good session.
Looking ahead, US stock futures are pointing slightly higher to end the week, after rebounding overnight following some nervous selloffs on Tuesday and Wednesday.
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 | Description | Price | % | Volume |
|---|---|---|---|---|
| ANL | Amani Gold Ltd | 0.002 | 100.0% | 10,709,767 |
| JAV | Javelin Minerals Ltd | 0.002 | 100.0% | 2,377,150 |
| NHE | Noble Helium | 0.395 | 97.5% | 12,247,982 |
| PCL | Pancontinental Energ | 0.008 | 60.0% | 86,239,480 |
| K2F | K2Fly Ltd | 0.235 | 34.3% | 1,440,887 |
| ALT | Analytica Limited | 0.002 | 33.3% | 355,133 |
| EVE | EVE Health Group Ltd | 0.002 | 33.3% | 3,255,001 |
| GGX | Gas2Grid Limited | 0.004 | 33.3% | 3,959,999 |
| SBR | Sabre Resources | 0.008 | 33.3% | 31,698,268 |
| OKR | Okapi Resources | 0.475 | 31.9% | 2,580,453 |
| ODE | Odessa Minerals Ltd | 0.017 | 30.8% | 3,825,128 |
| MRI | MyRewards Intl | 0.088 | 29.4% | 3,314,854 |
| GLA | Gladiator Resources | 0.033 | 26.9% | 11,289,422 |
| CBE | Cobre | 0.091 | 26.4% | 4,364,558 |
| CCE | Carnegie Cln Energy | 0.0025 | 25.0% | 2,637,809 |
| AOA | Ausmon Resorces | 0.011 | 22.2% | 9,926,094 |
| VRS | Veris Ltd | 0.079 | 21.5% | 1,288,236 |
| BMN | Bannerman Energy Ltd | 0.285 | 21.3% | 43,037,095 |
| ADN | Andromeda Metals Ltd | 0.115 | 21.1% | 86,055,862 |
| AGE | Alligator Energy | 0.11 | 20.9% | 72,975,765 |
| TOE | Toro Energy Limited | 0.029 | 20.8% | 101,315,052 |
| FAU | First Au Ltd | 0.018 | 20.0% | 4,481,886 |
| OEX | Oilex Ltd | 0.006 | 20.0% | 3,380,382 |
| VPR | Volt Power Group | 0.003 | 20.0% | 2,221,832 |
| AS2 | Askarimetalslimited | 0.765 | 19.5% | 1,728,513 |
Investors thought Noble looked like great value, after raising $10m in the IPO at 20c a share.
The company is focused on identifying, exploring and developing helium assets in United Republic of Tanzania. Once listed, it immediately shot to almost 40c for a day-one gain of 19.5c.
The Noble gains follow a similar IPO surge for WA-based graphite play International Graphite (ASX:IG6) yesterday.
Governance and compliance software company K2Fly (ASX:K2F) also outperformed in Friday trade, after flagging firm commitments for a $6.2m capital raise which will be cornerstoned by industry player Maptek.
Founded in Australia 41 years ago, Maptek is “the largest private mining software group in the world with annual revenues in excess of $120m”, K2Fly said.
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 |
|---|---|---|---|---|
| DCG | Decmil Group Limited | 0.135 | -28.9% | 4,552,534 |
| SIT | Site Group Int Ltd | 0.005 | -28.6% | 2,072,100 |
| YPB | YPB Group Ltd | 0.0015 | -25.0% | 2,798,309 |
| SCL | Schrole Group Ltd | 0.008 | -20.0% | 1,197,827 |
| LCY | Legacy Iron Ore | 0.032 | -17.9% | 77,493,559 |
| RD1 | Registry Direct | 0.015 | -16.7% | 1,000,000 |
| PTM | Platinum Asset | 1.895 | -15.0% | 19,212,157 |
| HAW | Hawthorn Resources | 0.115 | -14.8% | 2,221,324 |
| RDT | Red Dirt Metals Ltd | 0.565 | -13.7% | 4,775,048 |
| GSM | Golden State Mining | 0.095 | -13.6% | 1,633,631 |
| LV1 | Live Verdure Ltd | 0.24 | -12.7% | 25,767 |
| ATU | Atrum Coal Ltd | 0.014 | -12.5% | 3,739,745 |
| GEN | Genmin | 0.175 | -12.5% | 67,834 |
| OXT | Orexploretechnologie | 0.105 | -12.5% | 269,860 |
| TSL | Titanium Sands Ltd | 0.021 | -12.5% | 1,176,273 |
| GTE | Great Western Exp. | 0.087 | -12.1% | 74,686 |
| ERD | Eroad Limited | 3.27 | -12.1% | 376,251 |
| LSR | Lodestar Minerals | 0.015 | -11.8% | 20,032,419 |
| EUR | European Lithium Ltd | 0.12 | -11.1% | 23,228,390 |
| ARO | Astro Resources NL | 0.004 | -11.1% | 12,500,000 |
| ESH | Esports Mogul Ltd | 0.004 | -11.1% | 268,464 |
| TSC | Twenty Seven Co. Ltd | 0.004 | -11.1% | 1,954,593 |
| CGA | Contango Asset | 0.605 | -11.0% | 1,576 |
| 3MF | 3D Metalforge | 0.033 | -10.8% | 775,219 |
| M24 | Mamba Exploration | 0.125 | -10.7% | 206,741 |
ANNOUNCEMENTS YOU MAY HAVE MISSED
Junior Perth investment firms Ozgrowth (ASX:OZG) and WestOz Investment company (ASX:WIC) have both announced the Supreme Court of Western Australia has approved mergers with Geoff Wilson’s WAM Capital (ASX:WAM).
The merger is due to become legally effective following lodgement of the court orders with ASIC, which Ozgrowth and WIC intend to do on Monday. Ozgrowth and WIC shareholders will receive WAM Capital scrip as part of the agreed deal. OZG and WIC shares will be suspended from trading on the ASX at the end of trading on Monday, April 11.
Roots Sustainable Agricultural Technologies (ASX:ROO) has signed a binding dealership agreement with UK agricultural project and technology provider TK Solutions for the sales, marketing, logistics, installation and post-sale service of its Root Zone Temperature Optimisation Technology (RZTO).
An initial exclusivity period of 12 months has been agreed for the large agricultural markets of the UK, Ireland and Austria. After the initial 12-month term an evaluation will be made by both parties to extend.
TRADING HALTS
Cobre Limited (ASX:CBE) – trading halt, pending an announcement with respect to an exploration program in Botswana and a response to a price and volume query from the ASX
Krakatoa Resources Limited (ASX:KTA) – trading halt, pending the announcement of material exploration results from its 100% owned Mt Clere REE Project
Ragnar Metals Limited (ASX:RAG) – trading halt, pending a significant announcement in relation to assay results from the Swedish drilling program
