The ASX Emerging Companies index (XEC) ran free on Tuesday, climbing over 3%, apparently unrestrained by the various macro or geopolitical issues bothering the rest of us.
That said, the more gown up ASX200 also lifted on Tuesday, gaining around 50 points or 0.68%.
Energy stocks rallied amid rising oil and gas prices, the war for Kiev building fears of an energy crisis in Europe and beyond.
At home, the Aussie cash rate was kept pinned to the floor today – at its record low of 0.1% – under the remorseless knee of a central bank determined to show what patience under pressure looks like.
RBA governor Philip Lowe in an uncharacteristic burst of information said, the war in Ukraine adds a big new uncertainty into the mix and will cause likely spike inflation beyond what the bank has already budgeted for this year.
Housing prices meanwhile, slowed markedly in February, with Sydney recording its first monthly fall since November 2020.
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 |
|---|---|---|---|---|
| LKO | Lakes Blue Energy | 0.0015 | 50.0% | 20,485,967 |
| VMG | VDM Group Limited | 0.0015 | 50.0% | 15,037 |
| IS3 | I Synergy Group Ltd | 0.35 | 34.6% | 86,719 |
| MEB | Medibio Limited | 0.004 | 33.3% | 3,641,351 |
| SHH | Shree Minerals Ltd | 0.02 | 33.3% | 15,838,716 |
| EME | Energy Metals Ltd | 0.23 | 31.4% | 273,740 |
| NGY | Nuenergy Gas Ltd | 0.028 | 27.3% | 159,870 |
| TIG | Tigers Realm Coal | 0.015 | 25.0% | 10,999,641 |
| BNR | Bulletin Res Ltd | 0.15 | 25.0% | 9,247,840 |
| VMY | Vimy Resources Ltd | 0.225 | 25.0% | 12,907,496 |
| BAT | Battery Minerals Ltd | 0.01 | 25.0% | 2,570,508 |
| GGX | Gas2Grid Limited | 0.0025 | 25.0% | 328,572 |
| GTG | Genetic Technologies | 0.005 | 25.0% | 3,655,502 |
| PCL | Pancontinental Energ | 0.005 | 25.0% | 31,148,265 |
| MAG | Magmatic Resrce Ltd | 0.13 | 23.8% | 1,829,866 |
| MAY | Melbana Energy Ltd | 0.0865 | 23.6% | 78,722,874 |
| ABE | Ausbondexchange | 0.44 | 22.2% | 8,142 |
| AVH | Avita Medical | 3.14 | 22.2% | 871,705 |
| EL8 | Elevate Uranium Ltd | 0.565 | 20.2% | 4,720,804 |
| ADX | ADX Energy Ltd | 0.009 | 20.0% | 16,814,105 |
| NCL | Netccentric Ltd | 0.12 | 20.0% | 273,189 |
| VPR | Volt Power Group | 0.003 | 20.0% | 15,609,409 |
| PTX | Prescient Ltd | 0.185 | 19.4% | 2,124,831 |
AVITA Medical (ASX:AVH) outperformed on Tuesday following the release of a cracker annual report and some welcome forward guidance.
The clinical stage regenerative-med firm offered stakeholders some meaty full year revenue forecasts of circa $30m – a 20% increase year-on-year.
Shares in AVH jumped sharply in February after it announced FDA approval of the premarket approval application supplement for its RECELL autologous cell harvesting device.
And over in Québec, amid surging global demand, the emerging Aussie lithium play Sayona Mining (ASX:SYA) has doubled its resource base across two flagship projects – the North American Lithium and Authier Lithium projects in French-speaking Canada..
SYA’s total JORC combined Measured, Indicated, and Inferred mineral resources for the two projects now totals over 119Mt at 1.05% lithium.
Staying in resources, Tombador Iron (ASX:TI1) stormed the beaches planting a big flag that talked up the results of a pre-feasibility study with a maiden iron ore reserve just shy of 5.6 million tonnes at above-average grades of 65.5%Fe. This at its iron ore project in Bahia State, Brazil.
The resources, Tombador said “underpins 100% of the forecasted annual production of 1.2 million tonnes for 5 years” in the PFS, which was calculated on an assumed iron ore price of US$100.31 per tonne.
Valor Resources (ASX:VAL) is also enjoying a fine Tuesday of trade, after finding a great big porphyry copper target at its Picha Project in Peru. VAL says the IP anomaly is around 2km long in a north-south direction and 2km across at its widest point.
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 |
|---|---|---|---|---|
| BRU | Buru Energy | 0.185 | -27.5% | 12,222,896 |
| MOQ | MOQ Limited | 0.1 | -25.9% | 20,183 |
| ANL | Amani Gold Ltd | 0.0015 | -25.0% | 9,869,955 |
| KLL | Kalium Lakes Ltd | 0.078 | -22.0% | 15,791,970 |
| PVE | Po Valley Energy Ltd | 0.025 | -21.9% | 11 |
| DTC | Damstra Holdings | 0.195 | -20.4% | 1,877,433 |
| RBR | RBR Group Ltd | 0.004 | -20.0% | 620,000 |
| RMI | Resource Mining Corp | 0.016 | -20.0% | 1,238,062 |
| T3D | 333D Limited | 0.002 | -20.0% | 50,001 |
| EDU | EDU Holdings Limited | 0.13 | -18.8% | 30,000 |
| EVE | EVE Health Group Ltd | 0.0025 | -16.7% | 20,474,625 |
| BNL | Blue Star Helium Ltd | 0.042 | -16.0% | 25,900,202 |
| VIP | VIP Gloves | 0.022 | -15.4% | 2,544,450 |
| SDV | Scidev Ltd | 0.435 | -14.7% | 239,178 |
| BSA | BSA Limited | 0.15 | -14.3% | 384,673 |
| NZS | New Zealand Coastal | 0.006 | -14.3% | 2,164,018 |
| TMH | The Market Herald | 0.5 | -13.8% | 17,100 |
| RNO | Rhinomed Ltd | 0.19 | -13.6% | 368,617 |
| LNU | Linius Tech Limited | 0.013 | -13.3% | 5,716,635 |
| JPR | Jupiter Energy | 0.033 | -13.2% | 211,355 |
Buru Energy (ASX:BRU) has shuttered a promising gas flow testing program at the approach of Cyclone Anika near WA’s Canning Basin. The company says all crew have been demobilised and are accounted for. Shares are down 10%.
ANNOUNCEMENTS YOU MAY’VE MISSED
Australian engineering, construction, and remediation contractor Duratec (ASX:DUR) has won a $13 million contract to manage rehabilitation of former defence and other commonwealth infrastructure on six Sydney Harbour Federation Trust properties.
The project involves firstly undertaking asset condition audits to assist with development of an updated Strategic Asset Maintenance Plan. The second part of the project is to manage specific works based on the asset condition audit findings. It’s over 5% down at the close.
Makers of sustainable high-purity and now wet aluminium products, Alpha HPA (ASX:A4N) says its demonstration plant in Brisbane has been impacted by the floods and production of marketing samples has been paused.
The company says it’ll assess the impact in coming days, adding construction of its Stage 1 Precursor Production Facility in Gladstone has been unaffected by flooding.
Suvo Strategic Minerals (ASX:SUV) has finished converting the Victorian Pittong Mine historical resources from Pan European Reporting code (PERC) to JORC 2012, enabling the company to increase mining and plant output. The Australian Kaolin producer and silica sand exploration company says a mineral resource estimate has been completed at Pittong with a total Indicated and Inferred mineral resource of 5.69Mt of kaolinized granite, yielding 1.97Mt of <45um bright white kaolin and ISO Brightness 80.51 and bleached ISO Brightness of 83.61.
It’s only up 1%, but that’s people for you.
TRADING HALTS
Oar Resources (ASX:OAR) – pending capital raise