• ASX 200 benchmark rises almost 0.6%
  • Tech Sector recovers Wednesday’s losses, after Nasdaq positivity 
  • Miners lead small cap gains, ERW, RDN, AZS winning at home in Andover South


The Australian share market was up and about early on Thursday, thanks to a few standout earnings reveals and the flow through of after market positivity after Nvidia’s landmark Q2 fireworks.

Weak business activity reads just about everywhere had Wall Street leaping at the idea of no more Fed rate rises. The Dow Jones, S&P 500, Nasdaq 100 and the volatile Russell 2000 all ended higher.

With The Fed’s ‘higher for longer’ about to be tested at Jackson Hole, the after market trifecta for Nvidia (NVDA) – way-stronger-than-expected earnings, revenue and guidance – paved the way for some confident trading here and across the region.

By C.O.B the gains were booked, the benchmark up 0.6%

Unsurprisingly the local Tech Sector led the field on the back of strength in the Nasdaq, which – aside from Nvidia itself – was the most visible beneficiary of the US chipmaker’s stock surge, after dropping an epic Q2 report in aftermarket trade in NY.

Gold and lithium miners were also stronger, the lithium majors like Pilbara Minerals (ASX:PLS) and Liontown Resources (ASX:LTR) were up between 2 and 3%.

While the ASX200 has landed its 3rd straight session of gains, bringing some late respectability to the scoreboard in August, (which at Friday’s low saw the ASX200 down 4.40%), a word of warning from Tony Sycamore at IG.

“Before traders consider rushing to add to long positions in the ASX200 at August’s discounted prices, a reminder that the worst month of the year, September, is just around the corner.

“Over the past five years, the ASX200 has recorded an average monthly loss of 2.91% in September. For those who prefer a larger sample size, the reading isn’t much better, with the ASX200 averaging a decline of 2.29% in September over the past ten years.”

Thanks Tony. Bummer.



Chart via Marketindex.com.au


The ASX Small Ordinaries Index (XSO) was ahead by circa 0.3% again near the close, while the ASX Emerging Companies Index (XEC) was ahead by almost 0.5%



Fitch has downgraded to junk the credit rating of a subsidiary of Chinese property giant Country Garden, citing “heightened liquidity pressure” at the troubled firm.

Country Garden, China’s largest private developer in terms of sales last year, has amassed more than $US150bn in debt and said this month it had failed to make two bond payments, meaning it now risks a default.

The firm’s cash flow woes have fuelled fears that the firm could collapse, which many warn could have catastrophic repercussions for the Chinese financial system and economy

Staying in the region, the Bank of Korea kept its rate unchanged at 3.5% during its August rates decision, as widely expected, maintaining rates for the fifth straight time as inflation continued to ease.

WTI crude futures have fallen below US$79 per barrel making it a 4th straight session of walkbacks, as business activity quietened down across developed markets, adding to worries about the direction of energy demand.

PMI reads have business activity in the states just about flatlining for August, while the Poms and the EU are still contracting

There’s also likely some water treading ahead of the annual Fed symposium in Jackson Hole – why buy now when policymakers could guide your next move with some interest rate insights?

Gold rose to around $1,920 an ounce, recovering further from 5-month lows as the same crap PMI reads encouraged hopes that Jackson Hole might be where the central banks say enough is enough on interest rates.

Bond yields were slammed, with the 30-year falling at its fastest pace since the regional banking crisis

And on Wall Street, Bloomberg’s reporting that the estimated wealth of US chipmaker Nvidia’s founder and CEO Jensen Huang jumped some $US4.2 billion after NVDA’s blockbuster earnings and outlook overnight. He’s suddenly among the top 25 richest people on the planet.

Huang’s total fortune to $US46.1 billion, according to the Bloomers’ Billionaires Index.

At home, the Intergenerational Report is out and says the next unfortunate generation is unlikely to boldly go where the last ones went – in short, released by the federal government, the report shows:

  1. the number of Australians aged 65 and older is projected to double in 40 years; and
  2. the budget will fall back to deficit this year and stay there for er… 40 years.

Albo’s Treasurer Jim Chalmers says he might have to put together a “defining decade” to recast our future in his own light.



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
ERW Errawarra Resources 0.2 67% 8,363,560 $7,260,480
CCE Carnegie Cln Energy 0.0015 50% 4,452,378 $15,642,574
CLE Cyclone Metals 0.0015 50% 102,570 $10,264,505
ICR Intelicare Holdings 0.015 36% 54,131 $2,298,069
GCR Golden Cross 0.004 33% 10,492 $3,291,768
SIS Simble Solutions 0.008 33% 865,636 $3,617,704
TYM Tymlez Group 0.004 33% 2,704,604 $3,714,586
VAL Valor Resources Ltd 0.004 33% 550,000 $11,485,004
RDN Raiden Resources Ltd 0.025 32% 187,314,207 $39,050,110
SBR Sabre Resources 0.044 29% 810,690 $9,910,530
BP8 Bph Global Ltd 0.0025 25% 895,821 $2,669,460
CTO Citigold Corp Ltd 0.005 25% 3,529 $11,494,636
LSA Lachlan Star Ltd 0.01 25% 463,299 $10,552,102
MXC Mgc Pharmaceuticals 0.0025 25% 110,180 $7,784,719
PIL Peppermint Inv Ltd 0.01 25% 2,363,239 $16,302,855
TOY Toys R Us 0.01 25% 1,551,710 $7,383,344
WRK Wrkr Ltd 0.027 23% 909,718 $27,974,959
OSL Oncosil Medical 0.011 22% 1,363,312 $17,782,570
IGN Ignite Ltd 0.073 22% 534,469 $5,374,931
EPY Earlypay Ltd 0.18 20% 1,276,609 $43,489,304
AVM Advance Metals Ltd 0.006 20% 2,187,309 $2,942,794
MOM Moab Minerals Ltd 0.012 20% 4,570,451 $6,819,635
PNX PNX Metals Limited 0.003 20% 348,494 $13,451,562
TKL Traka Resources 0.006 20% 1,899,998 $4,356,646
FTL Firetail Resources 0.155 19% 327,889 $12,512,500
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It’s Digger’s Day here at Stockhead.

First to the niche hunter of halloysite kaolin,Andromeda Metals (ASX:ADN)which jumped nicely today on news of an updated Definitive Feasability Study for its Great White Project (GWP), at Streaky Bay on the Eyre Peninsula in South Australia.

The Great White Project Net Present Value (NPV) has apparently increased by 65% to $1,010mn, and average annual earnings before interest tax depreciation and amortisation (EBITDA) is up by circa 60% to $130mn.

“The 2023 DFS represents the outcome of a rigorous commercial and business strategy review for commercialising our construction ready project, to meet rising market demand,” said Bob Katsiouleris, CEO and Managing Director of Andromeda.

Black Mountain Energy (ASX:BME), is cash-richer by circa $10.7 mn, and the stock jumped by more than a third, following the sale of 100% of its acreage and its title and interest in the MIA 64 FEE 2H well in the Permian basin.

BME dropped about US$2 million for the site in January of this year, spent about US$1.4 million poking around the project, before off-loading it for a weirdly precise US$6,873,308 this week.

Math guru Gregor reckons that makes for a 102% profit, but he’s as good with numbers as he is at swallowing cars, so it might be worth double-checking.

Carrying on up the ASX is Wednesday’s warrior Raiden Resources (ASX:RDN) adding 32% today on the news that it’s all over an outcropping and interpreted pegmatites of up to 30m width at surface at its prized Andover South project. Yes, it’s the one right next door to all the excitement at, Azure Minerals (ASX:AZS).

And it didn’t take long for Errawarra Resources (ASX:ERW), to find another 20% after merely flying a helicopter over its E47/4352 tenement in the West Pilbara region of Western Australia.

Yes. Errawarra’s tenement is next door and along strike from the Azure/Raiden pegmatite finds. It’s all coming together.



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
EMS Eastern Metals 0.038 -27% 668,015 $3,460,071
1AG Alterra Limited 0.007 -22% 3,592,243 $6,268,973
GIB Gibb River Diamonds 0.028 -22% 110,000 $7,614,340
OPN Oppenneg 0.011 -21% 362,500 $15,633,515
RNX Renegade Exploration 0.008 -20% 2,540,655 $9,531,238
THR Thor Energy PLC 0.004 -20% 7,173,116 $7,296,457
JDO Judo Cap Holdings 1.025 -19% 9,910,998 $1,398,482,638
HIQ Hitiq Limited 0.024 -17% 792,247 $7,736,599
HVY Heavymineralslimited 0.125 -17% 75,941 $6,350,288
IVX Invion Ltd 0.005 -17% 629,642 $38,529,793
LML Lincoln Minerals 0.005 -17% 97,899 $8,524,271
LNU Linius Tech Limited 0.0025 -17% 30,362 $12,689,372
RBR RBR Group Ltd 0.0025 -17% 989 $4,855,214
SI6 SI6 Metals Limited 0.005 -17% 36,964 $11,963,157
ABE Ausbondexchange 0.13 -16% 231,032 $6,006,731
MRI Myrewardsinternation 0.011 -15% 1,144,997 $5,053,772
CI1 Credit Intelligence 0.14 -15% 495,846 $13,777,361
FRX Flexiroam Limited 0.023 -15% 2,790,211 $17,933,176
ELE Elmore Ltd 0.003 -14% 12,661,699 $4,897,843
SIO Simonds Grp Ltd 0.155 -14% 63,564 $64,783,161
NGS NGS Ltd 0.013 -13% 832,218 $3,768,411
TTT Titomic Limited 0.02 -13% 1,579,624 $19,909,816
BFC Beston Global Ltd 0.007 -13% 4,328,254 $15,976,375
BVR Bellavistaresources 0.14 -13% 79,521 $6,075,602
GW1 Greenwing Resources 0.175 -13% 29,374 $34,554,171
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Antipa Minerals (ASX:AZY): Proposed capital raise

Opthea (ASX:OPT) : Proposed capital raise

VRX Silica (ASX:VRX) : Proposed capital raise

BCAL Diagnostics (ASX:BDX): Concerning a share placement

Halo Food (ASX:HLF): Concerning a material announcement regarding HLF’s strategic review

Melbana Energy (ASX:MAY): Pending an announcement in relation to the current drilling program being conducted in Block 9, Cuba

Zenith Minerals (ASX:ZNC) : Pending the release of an announcement in respect of a sale of a project