Another trading day in February, another win for ASX microcaps.

The composite Emerging Companies index rose again on Wednesday for its fourth straight winning session, and eighth in the last nine days either side of a -2.56% wobble on February 3.

With today’s 1.06% gain, the index has now recouped about half of the 13% fall it copped in a savage four-day selloff between January 21 and January 27.

Wednesday small cap highlights: A potential ‘Julimar-like’ discovery, with Caspin Resources (ASX:CPN) hitting significant nickel and PGE sulphides at its project next door to the now-famous discovery by Chalice Mining (ASX:CHN).

Wednesday small cap lowlights: US-based ecommerce play Zebit (ASX:ZBT), which looks like it’s running out of cash and today flagged plans to delist from the ASX, less than two years after listing.

Looking abroad, it’s still ‘risk-on’ in global markets, with US stock futures also pointing higher ahead of the mid-week session on Wall Street later tonight.

So far, the good vibes are holding up ahead of this week’s major data release — US inflation figures for January on Thursday night.

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
RFT Rectifier Technolog 0.087 102.3% 149,391,673
WOO Wooboard Tech Ltd 0.0015 50.0% 13,363,667
CPN Caspin Resources 1.03 43.1% 2,302,029
NTL New Talisman Gold 0.002 33.3% 67,376
MTM Mt Monger Resources 0.21 23.5% 3,081,336
VOL Victory Offices Ltd 0.115 21.1% 30,000
IVT Inventis Limited 0.12 20.0% 182,163
PNX PNX Metals Limited 0.006 20.0% 1,073,565
KFM Kingfisher Mining 0.275 19.6% 1,198,010
SMX Security Matters 0.25 19.0% 62,278
ELE Elmore Ltd 0.032 18.5% 24,708,638
BUX Buxton Resources Ltd 0.1 17.6% 4,403,230
WC8 Wildcat Resources 0.034 17.2% 6,366,458
TRN Torrens Mining 0.175 16.7% 1,316,259
CT1 Constellation Tech 0.007 16.7% 2,104,501
VPR Volt Power Group 0.0035 16.7% 4,121,668
GAL Galileo Mining Ltd 0.215 16.2% 1,274,629
OMH OM Holdings Limited 1.025 15.8% 525,481
IMI Infinitymining 0.185 15.6% 234,213
GRE Greentechmetals 0.335 15.5% 1,649,199
AAJ Aruma Resources Ltd 0.099 15.1% 2,325,844

Beating out Caspin today was a double-up, as Rectifier Technologies (ASX:RFT) surged by 100% after flagging a US$20m production order in a one-paragraph announcement.

The deal is with electric vehicle charging company Tritium Pty Ltd, and will see RFT supply an order for “35kW high-voltage and high-efficiency modular power supply units” in connection with Tritium’s EV charging operations.

The purchase orders are binding and are expected to be completed before the end of this year, RFT said. Per-unit details of the order weren’t disclosed.

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
WEC White Energy Company 0.023 -85.6% 42,940,827
ANL Amani Gold Ltd 0.0015 -25.0% 62,200,500
JAV Javelin Minerals Ltd 0.0015 -25.0% 2,830,001
LKO Lakes Blue Energy 0.0015 -25.0% 105,724,158
PHO Phosco Ltd 0.115 -23.3% 86,459
CLB Candy Club 0.1 -16.7% 746,430
AHN Athena Resources 0.01 -16.7% 17,500
OAR OAR Resources Ltd 0.005 -16.7% 1,741,313
VMG VDM Group Limited 0.0025 -16.7% 1,220,698
ANO Advance Zinctek Ltd 2.18 -16.2% 125,848
AIB Aurora Glb Trust 0.105 -16.0% 27,312
RAB Adrabbit Limited 0.032 -15.8% 557,032
BTR Brightstar Resources 0.034 -15.0% 5,888,667
DDD 3D Resources Limited 0.003 -14.3% 3,442,000
WCN White Cliff Min Ltd 0.031 -13.9% 23,024,783
EMP Emperor Energy Ltd 0.045 -13.5% 1,590,388
SFM Santa Fe Minerals 0.195 -13.3% 181,758
CE1 Calima Energy 0.2 -13.0% 11,836,958
DLT Delta Drone Intl Ltd 0.02 -13.0% 10,000

Coal-processing technology company White Energy (ASX:WEC) suffered a catastrophic intraday fall of 85.6%, after getting some bad legal news out of Singapore.

The Singapore International Commercial Court issued a ruling in connection with a dispute between two WEC subsidiaries and PT Bayan Resources, in connection with a joint venture between the companies.

While ruling in WEC’s favour in some technical aspects of the case concerning Bayan’s conduct in the joint venture, the Court dismissed WEC’s damages claim for wasted expenditure, and also the loss of chance to expand the project.

In an announcement last night, WEC said it is “extremely surprised and bitterly disappointed with the outcome of the decision in circumstances where the Court has previously concluded that Bayan had clearly breached its obligations under the joint venture”.

ANNOUNCEMENTS YOU MAY HAVE MISSED

Murray River Organics Group (ASX:MRG) has called in the receivers. It was announced today that Peter McCluskey and John Lindholm of KPMG were appointed as receivers and managers of each company in the group.

The company has been suspended from trade for months after failing to submit its FY21 Audited Financial Statements. According to the KPMG announcement, an urgent assessment of the group’s financial position is being undertaken while operations are continuing as usual.

Welding technology specialist K-Tig (ASX:KTG) is entering the nuclear space announcing it will work with UK-based Nuclear Advanced Manufacturing Research Centre to develop a turnkey robotic welding cell.

The cells will be used in the production of stainless steel nuclear storage containers. Up to 17,000 containers will be needed to hold intermediate level waste during the decommissioning of the Sellafield nuclear site as part of Britian’s $2.84 million procurement plan, scheduled to kick off next year.

Centuria Capital Group (ASX:CNI) and its joint venture partner Digital Infratech have announced a proposed $250 million health, education and community precinct at Cudgen, on the Tweed Coast in New South Wales.

To be called Cudgen Connection, the 5.7 hectare precinct is earmarked to provide a range of facilities in the growing region including a new uni campus, aged care facilities, private hospital and health facilities along with essential worker housing and an amphitheatre.

TRADING HALTS

The following companies went into halts on Wednesday and are expected out in the coming days.

Eastern Metals (ASX:EMS) — material drilling result
Zebit (ASX:ZBT) — proposed delisting
Nickel Mines (ASX:NIC) — capital raising
Ardiden Ltd (ASX:ADV) — capital raising