• ASX posts steady gains on Tuesday
  • Activity stays strong in the small cap resources space
  • US stocks futures pointing ~0.3% higher

Local stocks shrugged off the post-Easter food coma with solid gains on Tuesday — a calm session in what’s been a comparatively volatile year so far.

The microcap Emerging Companies index cruised to a gain of around 0.7%, after opening higher and trading steadily throughout the day.

There were junior resources stocks aplenty on today’s small cap winner’s list, with some strong drilling results and investor enthusiasm for speculative exploration and development projects within the commodities boom.

As a measure of activity in the space, six resources companies went into trading halts today (see below), including three separate capital raisings and a pending acquisition announcement.

While ASX mining juniors continue to find demand, iron ore markets stayed at the mercy of Chinese policy makers:

On global markets, US stock futures are pointing around 0.3% higher ahead of the Tuesday session on Wall Street, following a flat start to the week on low trading volumes as investors returned from the Easter holiday.


(Stocks highlighted in yellow rose after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

Code Description Price % Volume
RAB Adrabbit Limited 0.027 107.7% 8,347,217
NC1 Nico Resources 1.66 38.9% 2,235,690
ALY Alchemy Resource Ltd 0.024 33.3% 18,190,196
AAJ Aruma Resources Ltd 0.185 32.1% 5,442,511
XAM Xanadu Mines Ltd 0.038 31.0% 48,485,553
LRV Larvottoresources 0.35 29.6% 4,212,967
PG1 Pearl Global Ltd 0.022 29.4% 4,975,614
ESS Essential Metals Ltd 0.705 28.2% 13,852,577
DCG Decmil Group Limited 0.13 23.8% 1,295,827
VR8 Vanadium Resources 0.13 23.8% 11,491,060
XTE Xtek Limited 0.37 23.3% 1,863,398
GED Golden Deeps 0.022 22.2% 68,441,588
HAW Hawthorn Resources 0.155 19.2% 2,008,526
GRV Greenvale Mining Ltd 0.25 19.0% 549,102
8IH 8I Holdings Ltd 0.13 18.2% 8,000
INP Incentiapay Ltd 0.02 17.6% 204,985
AZL Arizona Lithium Ltd 0.2 17.6% 39,570,065
SRN Surefire Rescs NL 0.0235 17.5% 101,904,547
AHQ Allegiance Coal Ltd 0.64 17.4% 1,919,878
ADO Anteotech Ltd 0.135 17.4% 11,782,980
AQS Aquis Ent Ltd 0.17 17.2% 13,701
CHL Camplifyholdings 2.82 17.0% 99,119
NGY Nuenergy Gas Ltd 0.028 16.7% 35,192
CZR CZR Resources Ltd 0.0185 15.6% 78,502,311
CSE Copper Strike Ltd 0.15 15.4% 753,104
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In small caps, there was a large percentage move in AdRabbit (ASX:RAB), the B2B tech company previously known as AppsVillage.

The company raised $5m at 20c for its IPO in 2019, but the stock closed before Easter at 1.3c.

In late-March, AdRabbit flagged that it had sought to be removed from the ASX, subject to the satisfaction of certain conditions.

The stock ripped higher in Tuesday trade by more than 100% on no news.

Among companies with news, NiCo Resources (ASX:NC1) was a big mover in afternoon trade.

At today’s close above $1.60, NC1 is closing in on 10x gains since it raised $12m in January at 30c.

The company is focused on developing its Wingellina project — one of the largest undeveloped cobalt nickel projects in the world.

Today, a director’s interest notice showed NC1 director Rod Corps added to his holdings on April 13 via the acquisition of 700,000 shares in an on-market trade, for a consideration of $771,250.

In two days’ trading since then, that parcel is now worth more than $1.1m.

Elsewhere among small cap winners, Aruma Resources (ASX:AAJ) continued its strong year, ripping higher before going into a trading halt pending its response to an ASX price query.

AAJ has found strong momentum since a gold strike at its Salmon Gums project in WA, and the stock has more than doubled so far in 2022.


(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
KLR Kaili Resources Ltd 0.016 -30.4% 150,000
YPB YPB Group Ltd 0.0015 -25.0% 701,088
IVT Inventis Limited 0.09 -25.0% 10,650
NZK NZK Salmon Ltd 0.5 -23.1% 350,159
LDR Lode Resources 0.2 -20.0% 729,921
ESH Esports Mogul Ltd 0.004 -20.0% 2,761,501
CVN Carnarvon Energy Ltd 0.27 -19.4% 42,131,542
BC8 Black Cat Syndicate 0.56 -17.6% 2,639,403
MGT Magnetite Mines 0.034 -17.1% 78,445,644
POL Polymetals Resources 0.1 -16.7% 100,000
ROO Roots Sustainable 0.005 -16.7% 9,290,756
VPR Volt Power Group 0.0025 -16.7% 4,216,666
HPR High Peak Royalties 0.055 -15.4% 22,743
DLT Delta Drone Intl Ltd 0.018 -14.3% 162,588
AO1 Assetowl Limited 0.003 -14.3% 137,848
DDD 3D Resources Limited 0.003 -14.3% 230,208
DMM Dmcmininglimited 0.155 -13.9% 20,177
GGX Gas2Grid Limited 0.0035 -12.5% 4,296
SKS SKS Tech Group Ltd 0.185 -11.9% 60,057
TMZ Thomson Res Ltd 0.045 -11.8% 4,268,479
ARO Astro Resources NL 0.004 -11.1% 9,524,220
BRX Belararoxlimited 0.925 -11.1% 202,778
AGR Aguia Res Ltd 0.058 -10.8% 338,640
DTR Dateline Resources 0.125 -10.7% 423,474
CVV Caravel Minerals Ltd 0.305 -10.3% 50,000
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Yandal Resources (ASX:YRL) has started a two-hole diamond drilling program to test high grade mineralisation intercepted at the Malone prospect in two reverse circulation drill holes at its 100%-owned Gordons gold project in Western Australia.

Managing director Tim Kennedy said the company will follow up the diamond drilling program by testing extents of mineralisation with a more comprehensive RC program.

Copper Mountain Mining Corporation (ASX:C6C) has announced it has appointed mining veteran Jeane Hull to its board.

Hull has more than 35 years of operational leadership and engineering experience, including as executive vice president and CTO of Peabody Energy Corporation (NYSE:BTU) and COO for Kennecott Utah Copper Mine, a subsidiary of Rio Tinto (ASX:RIO).

Mineral Commodities (ASX:MRC) will receive a ~$3.94 Federal Government grant to support development of an integrated graphite ore-to-battery anodes business based on its Munglinup Graphite Project in Western Australia.

The grant is part of the Federal Government’s Critical Mineral Acceleration Initiative (CMAI) and will directly support stage 1 of the project. Managing director Jacob Deysel said it was an important program for supporting value-adding and accelerated development of Australia’s critical mineral resources.


Aruma Resources (ASX:AAJ) — Response to ASX price query
Xanada Mines (ASX:XAM) — Capital raising
MinRex Resources (ASX:MRR) — Capital raising
Petratherm (ASX:PTR) — Drilling results
Auroch Minerals (ASX:AOU) — Proposed acquisition
Adveritas Ltd (ASX:AV1) — Capital raising
Krakatoa Resources (ASX:KTA) — Capital raising
Universal Biosensors (ASX:UBI) — Capital raising