Closing Bell: Liontown spinoff Minerals260 shrugs off ASX malaise to shine

Pic: Stevica Mrdja / EyeEm / EyeEm via Getty Images

Minerals260 (ASX:MI6), a spinoff from Liontown Resources (ASX:LTR), enjoyed a positive debut despite the ASX finishing down again.

The ASX 200 retreated 0.26% to close at 7,821 points with all sectors in the red except consumer staples and healthcare.

The biggest laggards were energy and tech, which both lost over 1% – in sync with global market concerns over rising inflation (even with rising energy prices).

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
VIA	Viagold Rare Earth	2	100	52236
AQC	Auspaccoal Ltd	0.225	73	68694
OVT	Ovato Limited	0.003	50	398137
NTL	New Talisman Gold	0.0025	25	1575000
PRO	Prophecy Internation	0.895	24	1685163
IKW	Ikwezi Mining Ltd	0.9	23	1820
STM	Sunstone Metals Ltd	0.048	23	93775772
PRM	Prominence Energy	0.017	21	62209810
SWK	Swick Mining	0.325	20	5587017
MI6	Minerals260Limited	0.6	20	13993285
ESH	Esports Mogul Ltd	0.006	20	8131453
CAV	Carnavale Resources	0.007	17	36721597
GGX	Gas2Grid Limited	0.0035	17	1966666
RDT	Red Dirt Metals Ltd	0.85	16	3544280
RCR	Rincon	0.22	16	27998
QXR	Qx Resources Limited	0.015	15	15728239
EVE	EVE Investments Ltd	0.004	14	1361983
GTI	Gratifii	0.032	14	2581912
TMK	Tamaska Oil Gas Ltd	0.008	14	2984747
CHR	Charger Metals	0.49	14	332098
GWR	GWR Group Ltd	0.165	14	1631059
SMI	Santana Minerals Ltd	0.21	14	566542
A3D	Aurora Labs Limited	0.13	13	669339

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On top of the bourse today was ViaGold Rare Earths Resources (ASX:VIA). From a low of 4.2c on August 27, ViaGold shares closed last Friday at 72c then $1 on Monday before rising to a close of $2 today.

Forrestania Resources (ASX:FRS) rose with an exploration update in which it revealed new drilling targets.

Prophecy (ASX:PRO) climbed after a company update in which it revealed strong sales growth in FY22 thus far.

Mining services stock Swick (ASX:SWK) received a takeover offer from its ASX peer DDH1 (ASX:DDH).

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
CCE	Carnegie Cln Energy	0.002	-33	4910154
PDI	Predictive Disc Ltd	0.17	-28	57114836
BRU	Buru Energy	0.125	-24	11496387
PRX	Prodigy Gold NL	0.03	-19	16268797
STX	Strike Energy Ltd	0.185	-18	43586687
NCL	Netccentric Ltd	0.125	-17	84500
CHK	Cohiba Min Ltd	0.016	-16	11731709
KNM	Kneomedia Limited	0.016	-16	4764645
DBO	Diabloresources	0.17	-15	4264089
AMD	Arrow Minerals	0.006	-14	4084268
ABV	Adv Braking Tech Ltd	0.034	-13	29343
SOP	Synertec Corporation	0.07	-13	184142
SFG	Seafarms Group Ltd	0.05	-12	21493444
GRL	Godolphin Resources	0.145	-12	97110
TPD	Talon Energy Ltd	0.011	-12	59464373
WGO	Warrego Energy Ltd	0.15	-12	24602277
OAU	Ora Gold Limited	0.015	-12	286100
IDZ	Indoor Skydive Aust	0.024	-11	530854
KNB	Koonenberrygold	0.12	-11	562626
TI1	Tombador Iron	0.04	-11	14893189
CZR	CZR Resources Ltd	0.008	-11	3473387
JGH	Jade Gas Holdings	0.074	-11	3345820
PNM	Pacific Nickel Mines	0.074	-11	57912

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Predictive Discovery (ASX:PDI) fell after telling shareholders it was aware of a pending media report questioning the legality of its plans to establish mining operations on part of the area covered by its Bankan project in Guinea.

ANNOUNCEMENTS YOU MAY’VE MISSED

Air New Zealand (ASX:AIZ) was given funding by the New Zealand government to operate overseas cargo flights. The Kiwi flag carrier says the current contract will run to the end of March and reap between $150 million and $170 million in revenue.

Aspiring prawn farmer Seafarms (ASX:SFG) revealed a number of capital cost increases that caused its capital works to blow out from $275-$290 million to $370-$410 million. The company blamed plant and road scope changes as well as inclusion of an allowance for contingency and escalation.

Property stock Vicinity (ASX:VCX) sealed a deal to buy a 50% interest in Harbour Town Premium Outlets on the Gold Coast for $358 million. The company says its annual MAT is more than double the average MAT for Vicinity’s current outlet portfolio and is expected to grow at more than 3% per annum to 2031.

Cazaly Resources (ASX:CAZ) announced tomorrow would be the day iron ore spin off Equinox Resources would list on the ASX. Cazaly has been allocated 15 million shares, which represents a 15.7% undiluted interest.

Australian Dairy Group (ASX:AHF) says Victorian COVID-19 restrictions have delayed the commissioning of its infant formula plant but expects this to occur in the first quarter of next year. It also reported that its Camperdown Dairy subsidiary would stop making and selling its The Collective yoghurt products in Australia, blaming ongoing COVID-19 restrictions, particularly for its products targeted at school children.

Raptis (ASX:RPG), a Queensland based property developer said its day to day operations were unaffected by founder Jim Raptis having $80 million in assets being frozen by the ATO. It said these developments were irrelevant to its day to day business.

Marmota (ASX: MEU) has observed visible gold in the core of recently completed diamond drilling at its Aurora Tank gold prospect. It added that the new rig, which only arrived last month performed well.