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The Australian share market has made a strong start to the week, touching a new record as the benchmark S&P/ASX 200 Index rose by 0.28%. The index is now within striking distance of the 8,500-point milestone.
Investors were generally feeling optimistic on Monday, with the broader market driven by gains across most sectors.
The real estate sector was the standout, with Mirvac (ASX:MGR) leading the charge with a 4% gain.
Resources fared well, with most mining giants rising. Energy stocks also enjoyed a nice boost, tracking higher oil prices amid the ongoing tensions between Russia and Ukraine.
Meanwhile, a number of stocks made significant announcements today.
Car-leasing company SG Fleet (ASX:SGF) soared by 20% after Pacific Equity Partners made a $3.50-a-share takeover bid.
Selfwealth (ASX:SWF), the online retail broker, gained 6% after Bell Financial raised its bid for the company.
In the resources sector, battery materials supplier Novonix (ASX:NVX) skyrocketed 30% after securing a major offtake agreement with PowerCo.
Market debutant Cuscal (ASX:CCL), the payments infrastructure firm, launched its $337 million IPO but was struggling out of the gates.
Shares closed around 8% lower than the $2.50 listing price. Some analysts reckon the company might face challenges, including government crackdowns on card payment surcharges.
Read more here about upcoming IPOs here: ASX IPOs suddenly come alive with upcoming biotech and fintech listings
Today’s best performing small cap stocks:
<Swipe or scroll to reveal full table. Click headings to sort:
Code | Name | Price | % Change | Volume | Market Cap |
---|---|---|---|---|---|
SFG | Seafarms Group Ltd | 0.002 | 33% | 555,769 | $7,254,899 |
TMK | TMK Energy Limited | 0.002 | 100% | 44,979,707 | $9,325,565 |
VPR | Voltgroupltd | 0.002 | 50% | 3,241,666 | $10,716,208 |
RML | Resolution Minerals | 0.002 | 33% | 54,039 | $2,415,033 |
DEV | Devex Resources Ltd | 0.145 | 32% | 4,199,071 | $48,585,974 |
EWC | Energy World Corpor. | 0.021 | 31% | 1,481,325 | $49,262,740 |
BEL | Bentley Capital Ltd | 0.013 | 30% | 200,000 | $761,279 |
SOC | Soco Corporation | 0.115 | 28% | 160,001 | $12,504,569 |
SP3 | Specturltd | 0.019 | 27% | 825,566 | $4,484,350 |
PCL | Pancontinental Energ | 0.018 | 25% | 24,026,870 | $113,842,202 |
BUY | Bounty Oil & Gas NL | 0.005 | 25% | 2,948,889 | $5,994,004 |
CUL | Cullen Resources | 0.005 | 25% | 500,000 | $2,773,607 |
ERA | Energy Resources | 0.003 | 25% | 7,274,415 | $810,792,482 |
ROG | Red Sky Energy. | 0.010 | 25% | 30,388,137 | $43,377,818 |
VFX | Visionflex Group Ltd | 0.005 | 25% | 250,000 | $13,421,298 |
5EA | 5Eadvanced | 0.087 | 24% | 597,720 | $23,508,565 |
HRE | Heavy Rare Earths | 0.036 | 24% | 138,173 | $2,443,979 |
PAR | Paradigm Bio. | 0.325 | 20% | 3,891,205 | $94,485,614 |
G11 | G11 Resources Ltd | 0.018 | 20% | 1,728,253 | $14,499,332 |
IFG | Infocusgroup Hldltd | 0.048 | 20% | 25,005,016 | $4,351,041 |
SBW | Shekel Brainweigh | 0.024 | 20% | 200,000 | $4,561,225 |
SGA | Sarytogan | 0.099 | 19% | 805,466 | $12,427,866 |
C29 | C29Metalslimited | 0.125 | 19% | 654,702 | $18,289,765 |
IR1 | Irismetals | 0.315 | 19% | 417,785 | $36,864,145 |
Livehire (ASX:LVH), a recruitment tech company, jumped after Humanforce Holdings, an Accel-KKR portfolio firm, made an all-cash, unconditional takeover bid for LiveHire at $0.045 per share. Humanforce already owns 87.76% of LiveHire. Independent Director Andrew Rutherford has recommended that shareholders accept the offer.
Selfwealth (ASX:SWF) also jumped after Bell Financial sweetened its takeover offer to 25 cents per share. Bell had received a competing offer from AxiCorp Financial Services, which made a non-binding bid of 23 cents per share.
has agreed to acquire Noodlecake Studios, a profitable Canadian indie gaming company known for its 60+ games and 270 million downloads. The deal expands Streamplay’s reach in North America and strengthens its global gaming presence. Noodlecake’s successful monetisation strategies have generated more than $42 million.
Mantle Minerals (ASX:MTL) has confirmed gold mineralisation at Mount Berghaus following its first reverse circulation drilling program. The best intersections include 5m at 1.1g/t Au and 32m at 0.16g/t Au. The company said the new drilling suggests potential for commercial-grade gold mineralisation within Hemi-style igneous rocks.
Novonix (ASX:NVX) has signed a binding offtake agreement with PowerCo SE for a minimum of 32,000 tonnes of high-performance synthetic graphite material, to be supplied from 2027 to 2031. Novonix is currently developing its Riverside facility in North America, which will begin commercial production in 2025 and expand to meet customer demand.
Metal Bank (ASX:MBK) has reported significant high-grade graphite results from its Millennium Cu-Co-Au Project in Queensland. The company said te-assaying of 2022 drilling samples returned good intersections, including 56m at 18.29% graphite and 49m at 12.97% graphite from surface. Graphite was found over a 2km strike length, extending across areas previously thought to be barren waste rock.
Today’s worst performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort
Code | Name | Price | % Change | Volume | Market Cap |
---|---|---|---|---|---|
RBR | RBR Group Ltd | 0.001 | -50% | 5,000,000 | $3,718,809 |
MTL | Mantle Minerals Ltd | 0.001 | -33% | 5,481,337 | $9,296,169 |
NRZ | Neurizer Ltd | 0.002 | -33% | 543,027 | $6,543,358 |
CZN | Corazon Ltd | 0.003 | -25% | 10,698,439 | $2,671,622 |
H2G | Greenhy2 Limited | 0.003 | -25% | 471,091 | $2,392,737 |
KP2 | Kore Potash PLC | 0.048 | -21% | 2,123,517 | $41,604,316 |
LCY | Legacy Iron Ore | 0.010 | -20% | 4,679,805 | $122,566,349 |
COY | Coppermoly Limited | 0.008 | -20% | 165,770 | $7,076,574 |
PRM | Prominence Energy | 0.004 | -20% | 75,000 | $1,945,882 |
TSL | Titanium Sands Ltd | 0.004 | -20% | 51,279 | $11,058,736 |
1TT | Thrive Tribe Tech | 0.003 | -17% | 38,454,462 | $2,110,085 |
ALM | Alma Metals Ltd | 0.005 | -17% | 176,074 | $9,399,133 |
FIN | FIN Resources Ltd | 0.005 | -17% | 83,821 | $3,895,612 |
LML | Lincoln Minerals | 0.005 | -17% | 7,660,370 | $12,337,557 |
ERW | Errawarra Resources | 0.061 | -16% | 26,115 | $7,002,209 |
LYK | Lykosmetalslimited | 0.016 | -16% | 15,000 | $3,578,756 |
JLL | Jindalee Lithium Ltd | 0.225 | -15% | 375,599 | $18,911,911 |
GCM | Green Critical Min | 0.006 | -14% | 11,368,117 | $13,352,873 |
JAV | Javelin Minerals Ltd | 0.003 | -14% | 675,000 | $18,162,887 |
PR2 | Piche Resources | 0.120 | -14% | 1,400 | $11,240,675 |
SRN | Surefire Rescs NL | 0.003 | -14% | 1,560,000 | $6,952,077 |
TMS | Tennant Minerals Ltd | 0.012 | -14% | 1,034,511 | $13,382,466 |
PGM | Platina Resources | 0.019 | -14% | 836,203 | $13,709,967 |
GRL | Godolphin Resources | 0.013 | -13% | 415,198 | $4,743,168 |
Antipa Minerals’ (ASX:AZY) has discovered new near surface gold zones at its Minyari Dome gold-copper project in WA on the back of the latest Phase 2 drilling effort, with further assays pending ahead of a potential PFS next year.
As it moves toward a maiden resource in the first half of next year, Equinox Resources (ASX:EQN) has returned a suite of shallow titanium intercepts it says has strengthened the multi-commodity Mata da Corda project in Brazil.
OzAurum Resources (ASX:OZM) has reported rock chips up to 16.23 g/t gold in a newfound discovery at Heysen’s Find, near the old Patricia open pit mine north-east of Kalgoorlie in Western Australia.
Magnetic Resources (ASX:MAU) has returned more deep gold intersections below open pit with hits continuing to 1km downdip – the company is confident it’ll be able to add underground mining to open pit operations at its Lady Julie North 4 deposit (LJN4).
Arika Resources (ASX:ARI) is ramping up exploration to follow up on drilling that uncovered more than 25 targets across its WA-based Yundamindra project, in areas which haven’t been touched by drilling.
Aspiring near-term graphite producer Green Critical Minerals (ASX:GCM) has fulfilled the Stage 3 earn-in requirements to hold an 80% interest in the WA-based McIntosh graphite project, having spent over $4 million on exploration and development across the past two years.
GCM and Hexagon Energy Materials (ASX:HXG) are now working to set up a joint venture for the exploration and evaluation of graphite within the project area.
American West Metals (ASX:AW1) has wrapped up a broad spectrum, regional exploration program across its Storm copper project on Somerset Island in Nunavut, Canada.
Numerous new copper targets were defined across the 110km-long copper belt, highlighting the large-scale regional exploration potential. The prospects: Seabreeze, Hailstorm, Tornado and Tempest.
Up next? The company says it will focus on testing areas where the mineralisation has been focussed, and where deposits may have formed, with plenty of news flow to come as it works to complete a resource upgrade and development study.
With its sights set on a resource update early next year, Besra Gold (ASX:BEZ) has kicked off a drilling program comprising deep diamond drillholes.
Newly appointed North Barneo Gold managing director Matthew Antill led a review of the Jugan project, coming up with a new mining strategy that incorporates a smaller open pit at Jugan, followed up by up to a 400-metre-deep underground development using modern mining techniques.
The company believes advantages of this, compared to the 2013 feasibility study, are:
At Stockhead, we tell it like it is. While Antipa Minerals, Equinox Resources , OzAurum Resources, Magnetic Resources Green Critical Minerals, American West Metals, Besra Gold, and Arika Resources are Stockhead advertisers, they did not sponsor this article.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.