• S&P/ASX 200 closes lower as energy stocks weigh on bourse, with Emerging Companies index also falling
  • Energy sector weighed down the bourse, losing 4.4% as big energy plays lose ground
  • Biotech Invex Therapeutics topped the day after good news from the European Medicines Agency


It’s the end of the week and the ASX like many of us (or me at least) has simply ran out of gas after earlier in the week trading at a two-month high.  There’s really not much positive to report this afternoon except next week is a new week.

The S&P ASX 200 index closed 1.5% lower as aggressive selling on the Aussie bourse continued, while the S&P ASX Emerging Companies index (XEC) – a benchmark for Australia’s micro-cap companies – was 0.25% lower.

The energy sector weighed down the ASX, losing 4.4% as big energy plays Woodside Energy Group (ASX:WDS) fell 5.2% Santos (ASX:STO) lost 4.6% and New Hope (ASX:NHC) is down 3.8%… and yeah, you get the picture.

The fall in energy stocks came after oil dived overnight amid the ongoing global growth outlook after the UK and Norway both raked hikes more than expected.

Furthermore, crude prices have came under pressure this week after the China National Petroleum Corp (CNPC), China’s largest oil and gas producer, cut its 2023 China crude demand estimate.

The CNPC now forecasts 2023 China crude oil demand to grow by +3.5% to 740 MMT, down from an March estimate of +5.1% to 756 MMT.

Adding to the market-wide woes, real estate was down 2.6% and the bloated fat cats in financials certainly didn’t help the cause, with that sector falling 1.6%. Materials, industrials and tech all also fell more than 1% today.

Today’s fall on the Aussie bourse came despite US stocks bouncing back overnight.  At close, the S&P 500 was up 0.37%, and tech heavy Nasdaq climbed 0.95%.

Asian markets were also trending lower today.

At 4.10pm (AEST) Hong Kong’s Hang Seng index fell 1.84% after coming back from a public holiday, while mainland Chinese stocks were closed due to the Dragon Boat Festival.

In Japan the Nikkei 225 was down by 1.48%, while the Topix fell 1.33% on the back of inflation figures. Japan’s core inflation rate eased slightly in May to 3.2% year-on-year, lower than April’s 3.4% but still above the Bank of Japan’s 2% target and economists expectations of 3.1%.

South Korea’s Kospi was down 0.86% and the Kosdaq fell 0.16%.



Here are the best performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume Market Cap
IXC Invex Ther 0.595 55% 644,257 $28,934,231
DLM Dominion Minerals 0.048 50% 448,056 $6,627,216
EMU EMU NL 0.003 50% 45,000 $2,900,043
ODM Odin Metals Limited 0.019 36% 498,109 $10,487,710
AXP AXP Energy Ltd 0.002 33% 930,334 $8,737,021
CCO The Calmer Co Int 0.004 33% 3,176,400 $1,334,333
TEM Tempest Minerals 0.017 31% 14,517,585 $6,588,681
ZEU Zeus Resources Ltd 0.04 29% 13,619,555 $13,899,191
HOR Horseshoe Metals Ltd 0.015 25% 531,870 $7,721,744
ERL Empire Resources 0.005 25% 100,000 $4,451,740
GCR Golden Cross 0.0025 25% 200,000 $2,194,512
DLI Delta Lithium 0.905 24% 20,511,225 $380,018,649
MRI My Rewards International 0.021 24% 1,973,525 $5,237,669
GTG Genetic Technologies 0.003 20% 900,131 $28,854,145
MBX My Foodie Box 0.006 20% 145,950 $185,640
OAU Ora Gold Limited 0.003 20% 19,990,022 $9,842,313
PYR Payright Limited 0.003 20% 2,171,516 $2,202,213
RLC Reedy Lagoon Corp. 0.006 20% 1,325,812 $2,833,598
MI6 Minerals260Limited 0.695 20% 1,769,116 $135,720,000
GTI Gratifii 0.0155 19% 2,625,462 $15,774,558
KNI Kuniko Limited 0.45 18% 344,138 $19,314,681
SOV Sovereign Cloud Hldg 0.058 18% 204,607 $8,315,316
MRZ Mont Royal Resources 0.14 17% 153,666 $8,217,920
ADS Adslot Ltd. 0.0035 17% 90,000 $7,438,045
AJQ Armour Energy Ltd 0.0035 17% 293,191 $14,764,026
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Biotech Invex Therapeutics (ASX:IXC) topped the day, up 48% on news that the European Medicines Agency (EMA) has granted the company’s Exenatide orphan drug designation (ODD) in the treatment of moderate to severe Traumatic Brain Injury (TBI).

It’s the second ODD for Exenatide in Europe, with IXC receiving an ODD for Idiopathic Intracranial Hypertension (IIH) in 2017, alongside an ODD from the US Food and Drug Administration (FDA), also for IIH.

Tempest Minerals (ASX:TEM) is up another 46%, continuing its run on yesterday’s announcement that they’re going to fly a helicopter over the company’s 100% owned Yalgoo tenements, which is about as positive as news needed to be to give investors something happy to aim at for the day.

And Delta Lithium (ASX:DLI), put on 26% for the day after hitting intercepts of 33m @ 1.9% Li2O from 218m, and 19m @ 1.6% Li2O from 190m, while drilling at its 505km2 Yinnetharra lithium project in the Gascoyne region of WA.



Here are the worst performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume Market Cap
CLE Cyclone Metals 0.001 -33% 1,550,201 $15,396,757
VPR Volt Power Group 0.001 -33% 10,000 $16,074,312
OPN Oppen Negotiation 0.011 -27% 603,540 $3,637,950
CTN Catalina Resources 0.003 -25% 205,551 $4,953,948
LNU Linius Tech Limited 0.003 -25% 990,708 $15,061,829
M4M Macro Metals Limited 0.003 -25% 99,999 $7,948,311
FNX Finexia Financial 0.24 -20% 76,665 $14,389,673
ESR Estrella Res Ltd 0.008 -20% 6,698,015 $14,835,719
LSR Lodestar Minerals 0.004 -20% 203,000 $9,216,987
ROO Roots Sustainable 0.004 -20% 228,499 $693,611
DES Desoto Resources 0.105 -19% 120,660 $7,790,445
OLI Oliver's Real Food 0.017 -19% 216,913 $9,255,370
FFF Forbidden Foods 0.014 -18% 888,248 $2,494,419
TSI Top Shelf 0.19 -17% 405,031 $19,358,993
CPT Cipherpoint Limited 0.005 -17% 100,000 $6,955,450
PNX PNX Metals Limited 0.0025 -17% 300,655 $16,141,874
AUA Audeara 0.041 -16% 61,125 $7,021,700
CZN Corazon Ltd 0.016 -16% 653,823 $11,596,281
AUR Auris Minerals Ltd 0.011 -15% 506,867 $6,196,137
AJX Alexium Int Group 0.012 -14% 2,930,478 $9,119,457
BEX Bikeexchange Ltd 0.006 -14% 4,542,509 $7,846,884
GTR Gti Energy Ltd 0.006 -14% 1,317,430 $13,634,279
RIM Rimfire Pacific 0.006 -14% 4,088,355 $14,036,713
SI6 SI6 Metals Limited 0.006 -14% 4,501,583 $10,467,762
SRY Story-I Limited 0.006 -14% 227,273 $2,634,834
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Some great news for AML3D (ASX:AL3)  today, with the company announcing that it’s locked in the sale of an enterprise-level, ARCEMY® large scale metal 3D printing system to Curtin University.

The sale, valued $1 million, is set to expand Curtin’s additive manufacturing teaching and research capability, and align it with the emerging standard for large scale industrial additive manufacturing technology.

“AML3D is delighted to be able to support Curtin University in expanding its wire additive manufacturing capabilities,” AML3D interim CEO Sean Ebert said.

“This sale represents AML3D delivering against its strategic objectives and is an excellent opportunity to partner with Curtin to expand the applications for our Wire Additive Manufacturing technology in Australia and globally.”


Orbital Corporation (ASX:OEC) has also got some happy sales news, announcing that it’s signed a $1.1 million deal to manufacture and supply heavy fuel engine systems and spare parts, and service technical support with a new customer.

“Over the past 10 years, Orbital UAV has built an enviable position as a world leader in the design and manufacture of engine systems for tactical UAVs,” said Todd Alder, Orbital’s CEO and Managing Director.

“This latest order for our heavy fuel UAV engines demonstrates the growing reputation of our established product range and continues to expand our global customer footprint,” he continued.

The company will deliver Orbital UAV-designed unmanned aerial vehicle (‘UAV’) engines to  defence agency organisation, Finance International PL, in the second half of financial year 2024.


Meanwhile, Lithium Australia (ASX:LIT) has informed the market that it has completed a $6.4 Million capital raising (before costs) via the issue of 8,000,000 shares at an issue price of 80 cents/share.

LEL plans to spend the incoming funds to advance the on-going development of the Company’s Solaroz Lithium Brine Project in Argentina, as well as its Burke and Corella Graphite Projects in Queensland.

The cap raise a little awkwardly coincided with Lithium Energy’s major shareholder Strike Resources (ASX:SRK) offloading 3 million LEL shares at $0.80 per share.

Strike remains the largest shareholder with 31,410,000 shares – a 30.49% stake, post Issue – and has told Lithium Energy that it’s got no plans to sell any more of those shares for “at least the next six months”.


And in other fundraising news, Chimeric Therapeutics (ASX:CHM) is finished with its share purchase plan, under which new shares were offered at $0.04 a pop, a 5% discount to the volume weighted average price during the five trading days up to the closing date of 16 June, 2023.

The share purchase plan raised $1.5 million – with a total of 43,785,637 ordinary shares issued today – taking the total raised with the Board and management placement announced on May 15, 2023 to $2.5 million, with an Extraordinary General Meeting set for June 29, 2023 to consider approval of the board and management placement.



ECS Botanics (ASX:ECS) – Material supply agreement announcement.

Tamboran Resources (ASX:TBN) – Capital raising.