- ASX 200 edges higher, small caps chalk up big win on Thursday
- Gold punched through $1,850/oz overnight, gold stocks gain
- Small Cap winners today: Lindian Resources, Grand Gulf Energy, PolarX
ASX 200 edges higher, small caps chalk up big win
The ASX 200 Index was basically unchanged Thursday, with six out of 11 of its underlying sectors gaining.
The Consumer Discretionary was the strongest sector, rallying by 0.73%, while Energy copped a low blow as oil prices continue to tumble.
Meanwhile, the S&P/ASX Emerging Companies index (ASX:XEC) had a ball-tearer today, à la the indominable Steve Smith, Usman Khawaja and Travis Head, up 1.5% by close of play.
In a momentous day Khawaja made his highest-ever Test score, while Smith made his 30th hundred – a milestone which moves him past Sir Donald Bradman for the equal third most by an Australian.
Meanwhile, run machine Travis Head knocked up a typically racy cameo, punishing the hapless South African bowlers with 70 off 59 balls.
Gold is back, baby
Gold punched through $1,850/oz overnight for a cumulative 13% gain over the past two months.
Once maligned gold stocks are now making sizeable gains, with ASX majors Northern Star (ASX:NST) and Newcrest (ASX:NCM) up 33% and 24% over the same period.
It’s not just the big boys, either.
…and so is China
…but not the US
Market sentiment: it’s a rich tapestry.
ASX SMALL CAP LEADERS
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 |
|---|---|---|---|---|---|
| SIH | Sihayo Gold Limited | 0.002 | 100% | 3,178,681 | $6,102,128 |
| FHS | Freehill Mining Ltd | 0.005 | 67% | 5,914,390 | $5,780,547 |
| LIN | Lindian Resources | 0.225 | 45% | 23,602,710 | $151,553,082 |
| CCE | Carnegie Cln Energy | 0.002 | 33% | 1,236,116 | $23,463,861 |
| GLV | Global Oil & Gas | 0.002 | 33% | 96,033,743 | $4,017,407 |
| ICN | Icon Energy Limited | 0.008 | 33% | 6,107,764 | $4,608,082 |
| ROO | Roots Sustainable | 0.002 | 33% | 61,963 | $1,558,829 |
| SPX | Spenda Limited | 0.0155 | 29% | 17,406,414 | $39,155,749 |
| OLL | Openlearning | 0.03 | 25% | 75,000 | $6,428,858 |
| HMY | Harmoney Corp Ltd | 0.575 | 25% | 12,410 | $46,715,570 |
| PO3 | Purifloh Ltd | 0.25 | 25% | 21,114 | $6,304,700 |
| AVW | Avira Resources Ltd | 0.0025 | 25% | 1,800,000 | $4,267,580 |
| MTL | Mantle Minerals Ltd | 0.0025 | 25% | 683,334 | $10,691,210 |
| ARN | Aldoro Resources | 0.23 | 21% | 225,479 | $21,453,340 |
| PGY | Pilot Energy Ltd | 0.018 | 20% | 10,970,229 | $11,720,161 |
| CTO | Citigold Corp Ltd | 0.006 | 20% | 481,738 | $14,168,295 |
| PUA | Peak Minerals Ltd | 0.006 | 20% | 28,368 | $5,206,883 |
| TEG | Triangle Energy Ltd | 0.0215 | 19% | 2,343,743 | $24,201,715 |
| BTR | Brightstar Resources | 0.019 | 19% | 2,161,327 | $11,722,061 |
| KAI | Kairos Minerals Ltd | 0.026 | 18% | 5,574,987 | $43,210,057 |
| EPY | Earlypay Ltd | 0.235 | 18% | 401,194 | $57,985,738 |
| AGD | Austral Gold | 0.049 | 17% | 519,244 | $25,717,077 |
| ADG | Adelong Gold Limited | 0.007 | 17% | 2,124,404 | $2,752,934 |
| ATU | Atrum Coal Ltd | 0.007 | 17% | 100,000 | $8,350,195 |
| CXU | Cauldron Energy Ltd | 0.007 | 17% | 78,968 | $5,589,408 |
Maiden drilling assays from Lindian Resources’ (ASX:LIN) high-profile Kangankunde rare earths acquisition are in, and investors are loving it.
The first two holes into the Malawian project, which LIN calls “a standout, globally significant rare earths project”, pulled up grades up to 11.8% TREO.
The mineralisation is also very thick. Rare earths were reported over the entire length of the 110m and 250m holes from surface, with both also ending in mineralisation.
Grand Gulf Energy (ASX:GGE) is set to follow-up on its Jesse-1A helium discovery in Utah after receiving a permit to drill the Jesse-2 well, 1.5km away.
The first well intersected 101 feet (30.78m) of net gas pay with up to 1% helium returned to surface.
Managing director Dane Lance added that a commercial discovery could be quickly monetised to generate near-term cash flow with “minimal time and cost”.
And punter favourite PolarX (ASX:PXX) is now up 300% on big volumes over the past month.
The +$40m capped gold-copper explorer was vaulted into mainstream consciousness when major miner Northern Star snapped up a 10% stake in December.
ASX SMALL CAP LAGGARDS
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 |
|---|---|---|---|---|---|
| MGG | Mogul Games Grp Ltd | 0.0015 | -25% | 375,000 | $6,526,882 |
| PRM | Prominence Energy | 0.0015 | -25% | 1,611,081 | $4,849,218 |
| PRS | Prospech Limited | 0.023 | -21% | 125,000 | $2,560,659 |
| CFO | Cfoam Limited | 0.002 | -20% | 25,000 | $1,834,602 |
| TD1 | Tali Digital Limited | 0.002 | -20% | 7 | $4,205,268 |
| REM | Remsensetechnologies | 0.14 | -18% | 6,994 | $6,198,467 |
| CLE | Cyclone Metals | 0.0025 | -17% | 27,282,644 | $18,350,211 |
| MHC | Manhattan Corp Ltd | 0.005 | -17% | 1,004,066 | $9,157,672 |
| INV | Investsmart Group | 0.265 | -16% | 115 | $44,011,548 |
| JXT | Jaxstaltd | 0.033 | -15% | 100,492 | $13,845,388 |
| AOA | Ausmon Resorces | 0.006 | -14% | 1,100,000 | $6,001,025 |
| CHK | Cohiba Min Ltd | 0.006 | -14% | 9,947,764 | $12,412,709 |
| MTH | Mithril Resources | 0.003 | -14% | 711,262 | $11,420,816 |
| NZS | New Zealand Coastal | 0.003 | -14% | 352,484 | $3,944,518 |
| WCN | White Cliff Min Ltd | 0.012 | -14% | 887,253 | $10,545,993 |
| ARC | ARC Funds Limited | 0.285 | -14% | 17,764 | $9,925,196 |
| 3DA | Amaero International | 0.135 | -13% | 238,315 | $64,396,333 |
| ZEO | Zeotech Limited | 0.041 | -13% | 426,275 | $77,113,166 |
| AL8 | Alderan Resource Ltd | 0.007 | -13% | 967,658 | $4,626,129 |
| ETM | Energy Transition | 0.056 | -13% | 1,514,102 | $86,767,617 |
| RML | Resolution Minerals | 0.007 | -13% | 55,567 | $8,557,970 |
| POL | Polymetals Resources | 0.21 | -13% | 262,524 | $10,843,846 |
| VAR | Variscan Mines Ltd | 0.015 | -12% | 239,276 | $4,534,444 |
| C1X | Cosmosexploration | 0.195 | -11% | 130,377 | $5,500,000 |
| EMC | Everest Metals Corp | 0.08 | -11% | 37,008 | $9,578,980 |