It was a busy day for small cap investors in resources and energy, as a number of junior explorers ripped higher following big announcements.

Those gains stood out amid another mediocre session for the broader index, as the ASX continues to track sideways.

Large cap miners fell again while the banks outperformed, as global bond yields moved higher overnight.

Meanwhile, there was a bout of downside volatility in crypto markets, as Bitcoin dipped further below US$50,000 which spelt bad news for around 375,000 traders with leveraged BTC positions.

Those falls were accompanied by another regulatory battle in the US, where Coinbase CEO Brian Armstrong accused the SEC of “sketchy behavior” on Twitter this afternoon (AEST) concerning the crypto exchange’s plans to launch a yield-generating product.

TODAY’S BIGGEST WINNERS

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Among stocks with news, a number of junior gold stocks ran hot, but they were all outpaced by oil & gas junior Norwest Energy (ASX:NWE), which more than doubled as the beneficiary of a gas strike by large cap Mineral Resources (ASX:MIN) in the Perth Basin — part of a JV project in which NWE has a 20% stake.

African Gold (ASX:A1G) also held its morning gains following an outstanding gold hit at its Ivory Coast project. Get the full small cap resources wrap here.

And making a run in afternoon trade was industrial supplies company Stealth Global (ASX:SGI), following the release of its FY21 results presentation where it flagged a 36% lift in annual revenues to $95m-$102m once its acquisition of Skipper Transport Parts is fully integrated.

TODAY’S BIGGEST LOSERS

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ANNOUNCEMENTS YOU MAY HAVE MISSED

Just 5 days before Astron Corporation’s (ASX:ATR) was due to demerge its China-based downstream mineral processing operations into a separate non-listed entity, Titanium Hong Kong, a minority shareholder with just $6,000 in shares is seeking an interim injunction in Hong Kong’s High Court to stop the deal. Astron said it considers the move vexatious and frivolous and said it would vigorously oppose it.

Aussie Broadband (ASX:ABB) completed a $114 million listing at $4 a share less than 12 months after listing at just $1 a share. The company says the funds will support growth by M&A, new products and technology development.

Still on high flying telcos, Pentanet (ASX:5GG) reached the practical completion milestone for its cloud gaming infrastructure GeForceNOW. The company will undertake a national commercial launch next month.

IP law firm IPH (ASX:IPH) announced two of its member firms – Shelston IP and Spruson & Ferguson would merge. IPH says the integration would result in enhanced operational efficiencies and provide further benefits for both firms’ clients.

Gold producer Westgold Resources (ASX:WGX) shrugged off COVID-19 operational constraints, producing over 24,000 ounces during August. The company says its production guidance remains on track.

With virtual inspections the norm in Victoria right now, AssetOwl (ASX:AO1) signed its first customer in that state. The company says it is a milestone not just for Victoria but for the Australian East Coast and claims it is the only product allowing video call inspections while capturing high resolution photos and allowing them to be reviewed in real time.

TRADING HALTS

Thursday

Eastern Iron (ASX:EFE) – price query
Golden Mile Resources (ASX:G88) – capital raising
IOUpay (ASX:IOU) – acquisition
Amani Gold (ASX:ANL) – capital raising
DXN (ASX:DXN) – acquisition and capital raising
Imricor Medical Systems (ASX:IMR) – capital raising

Friday

Superior Resources (ASX:SPQ) – capital raising
Forbidden Foods (ASX:FFF) – acquisition and capital raising
Aston Minerals (ASX:ASO) – exploration update
Omni Bridgeway (ASX:OBL) – Brisbane floods class action update