Local stocks ummed and ahhed, before finishing higher on Friday in a relatively cruisy session following some more fireworks on Wall Street overnight.

Social media giant Meta got crushed after flagging its first ever decline in user growth, before Amazon came to the party with a big after-hours rally after upping the cost of its Prime subscription.

Also upping things was the RBA, which upped its forecast for trimmed-mean inflation to 2.75% for year-end 2022, with a June peak of 3.25%.

The bank’s closely watched Statement on Monetary Policy also included further declines in unemployment, but more modest gains for wage growth.

The ASX opened higher then fell into the red, before getting back on the horse in afternoon trade.

Microcaps outpaced the big end of town as the Emerging Companies index rose by ~0.5%.

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 0.0015 50.0% 250,000
CNB Carnaby Resource Ltd 2.03 49.3% 12,484,576
AUQ Alara Resources Ltd 0.088 49.2% 10,596,421
MSI Multistack Internat. 0.058 48.7% 452,759
DCX Discovex Res Ltd 0.014 40.0% 97,628,064
BAS Bass Oil Ltd 0.002 33.3% 985,545
VMG VDM Group Limited 0.002 33.3% 253,504
CPM Coopermetalslimited 0.465 27.4% 1,645,900
FNT Frontier Resources 0.031 24.0% 75,692,585
BRX Belararoxlimited 0.31 24.0% 1,128,999
SIS Simble Solutions 0.022 22.2% 2,995,285
MOB Mobilicom Ltd 0.05 22.0% 180,000
IVZ Invictus Energy Ltd 0.14 21.7% 5,222,915
CDT Castle Minerals 0.064 20.8% 38,869,582
OMX Orange Minerals 0.18 20.0% 132,106
LCT Living Cell Tech. 0.006 20.0% 9,116
VPR Volt Power Group 0.003 20.0% 84,222,153
PCL Pancontinental Energ 0.0035 16.7% 43,864,981
RNX Renegade Exploration 0.007 16.7% 1,103,723
T3D 333D Limited 0.0035 16.7% 103,971
VKA Viking Mines Ltd 0.014 16.7% 1,735,358
CAE Cannindah Resources 0.325 16.1% 2,320,091
WRK Wrkr Ltd 0.022 15.8% 2,497,038
ICG Inca Minerals Ltd 0.105 15.4% 905,120
THR Thor Mining PLC 0.015 15.4% 52,680,465

It was all systems go for Carnaby Resources (ASX:CNB), which along with its joint venture partner Discovex Resources (ASX:DCX) said it’s confirmed a serious copper hit at the ‘Nil Desperandum’ prospect, part of the ‘Greater Duchess’ copper-gold project in Queensland.

The pair’s latest drill program pulled up additional copper mineralisation with a similar ‘true width’ to another drill program in December. Here’s why that’s important.

Among stocks with news, both companies easily led the market on Thursday with gains of +40%.

Mobile communications equipment company Mobilicom (ASX:MOB) jumped by around 20% on no news, while $75m rare earths player Frontier Resources (ASX:FNT) rose strongly after announcing the appointment of mining industry veteran David Frances as non-executive chairman.

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
WOO Wooboard Tech Ltd 0.0015 -25% 593,425
SRN Surefire Rescs NL 0.012 -20% 16,937,189
CCE Carnegie Cln Energy 0.002 -20% 1,000,000
AIQ Alternative Invest 0.095 -17% 8,000
KLR Kaili Resources Ltd 0.025 -17% 85,806
NCL Netccentric Ltd 0.1 -17% 84,031
BIR BIR Financial Ltd 0.029 -15% 641,730
SHH Shree Minerals Ltd 0.018 -14% 44,383,781
ARE Argonaut Resources 0.003 -14% 1,330,000
AYM Australia United Min 0.006 -14% 1,446,980
CT1 Constellation Tech 0.006 -14% 13,740
HFY Hubify Ltd 0.056 -14% 280,000
HCD Hydrocarbon Dynamic 0.013 -13% 1,008,540
ICN Icon Energy Limited 0.013 -13% 251,145
AO1 Assetowl Limited 0.0035 -13% 879,589
AXP AXP Energy Ltd 0.007 -13% 23,938,834
ROG Red Sky Energy. 0.007 -13% 4,298,431
TSC Twenty Seven Co. Ltd 0.0035 -13% 36,048,212
ASQ Australian Silica 0.12 -11% 456,084
JXT Jaxstaltd 0.04 -11% 653,398
FFT Future First Tech 0.032 -11% 4,890
MXO Motio Ltd 0.075 -11% 8,777
BMR Ballymore Resources 0.17 -11% 118,670
IEC Intra Energy Corp 0.017 -11% 204,216
FTZ Fertoz Ltd 0.22 -10% 319,018

ANNOUNCEMENTS YOU MAY HAVE MISSED

Mining heavy equipment rental company Emeco Holdings (ASX:EHL)has formally appointed Thao Pham as chief financial officer, after acting in the role since September 2021.

Chairman Peter Richards said Thao had been instrumental in Emeco’s debt restructuring in FY21 and would continue to provide strong financial leadership to the company.

New Zealand Oil & Gas subsidiary Cue Energy Resources (ASX:CUE) has announced that its oil production well in Mahato PSC, Indonesia has been successfully drilled.

The well is producing an average of ~600 barrels or oil per day. Cue has a 12.5% interest in the Mahato PSC. New Zealand Oil & Gas has a 50.4% interest in Cue.

And BBX Minerals (ASX:BBX) has announced its in the final stages of assaying its first completed RC drill hole in its 2017 program at Três Estados in Brazil using an alternative nickel extraction method.

Although BBX has been working on the method for more than a year and achieved consistent results, the assay process was temporarily put on hold due to challenges in achieving the required furnace temperatures of 1450° to 1500°.

However, the issue has been resolved through a furnace upgrade that is continuously able to achieve temperatures of 1600°.

TRADING HALTS

The following stocks went into halts on Friday and are expected out in the coming days.

Balkan Mining & Minerals (ASX:BMM) — acquisition
Nimy Resources (ASX:NIM) — exploration update (Mons nickel project)
PlaySide Studios (ASX:PLY) — Beans Web 3.0 NFT launch