The S&P/ASX200 is up about 0.3% to 7,291. on Thursday, with the tech names leading the charge, after a decent NASDAQ rally and a good run overnight in the US and European share markets.
Our small cap and emerging companies (ASX:XEC) index has performed well, climbing over 17 points, closing 0.7% higher.
Over the last five days, the ASX200 benchmark has lifted by 3%.
It’s been a good run. And now Ben Udy at Capital Economics says all this action and the ongoing strength in underlying inflation will lead the Reserve Bank to start lifting rates rates from June and not a few months later as previously thought..
Capital now expect the RBA to raise the cash rate to 1.75% by August next year.
“We have brought our first rate hike from August to June,” Udy said in a note today. “Further evidence that the Australian economy is rapidly heating up suggests the RBA may hike even earlier than we had previously assumed.”
That brings Capital in line with what the financial markets anticipate, but earlier than the analyst consensus of Q3. So make your trades accordingly.
TODAY’S BIGGEST SMALL CAP WINNERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| KLI | Killi Resources | 0.495 | 147.5% | 1,699,267 |
| JAV | Javelin Minerals Ltd | 0.002 | 33.3% | 2,649,264 |
| WOO | Wooboard Tech Ltd | 0.002 | 33.3% | 12,108,129 |
| GTG | Genetic Technologies | 0.0055 | 22.2% | 9,598,618 |
| ARE | Argonaut Resources | 0.004 | 14.3% | 9,233,396 |
| ABX | ABX Group Limited | 0.135 | 28.6% | 10,105,160 |
| ARR | American Rare Earths | 0.475 | 28.4% | 9,651,932 |
| INF | Infinity Lithium | 0.195 | 25.8% | 9,300,733 |
| ICI | Icandy Interactive | 0.175 | 25.0% | 28,084,315 |
| CCE | Carnegie Cln Energy | 0.0025 | 25.0% | 3,812,254 |
| PCL | Pancontinental Energy | 0.005 | 25.0% | 193,862,036 |
| IEC | Intra Energy Corp | 0.022 | 22.2% | 32,276 |
| PWN | Parkway Corp Ltd | 0.011 | 15.8% | 3,414,574 |
| LNU | Linius Tech Limited | 0.0205 | 20.6% | 6,289,526 |
| LCT | Living Cell Tech. | 0.006 | 20.0% | 11,548 |
| MAY | Melbana Energy Ltd | 0.067 | 19.6% | 81,148,496 |
| TD1 | Tali Digital Limited | 0.025 | 19.0% | 3,995,179 |
| TSN | The Sust Nutri Grp | 0.19 | 18.8% | 100,830 |
| WEL | Winchester Energy | 0.0165 | 17.9% | 19,124,323 |
The hero of today’s dish is newly listed gold and rare earths explorer Killi Resources (ASX:KLI) which has its sights set on digging gold out of the Tanami region of WA.
The company raised $6m at $0.20. It’s closing price is near $0.50.
The team of ex/ current Cassini Resources/ Caspin Resources (ASX:CPN) crew are highly experienced, and include CEO Kathryn Cutler, chairman Richard Bevan, and non-executive directors Greg Miles and Phil Warren.
Recently listed explorer Belararox (ASX:BRX) is flying on no news, up +100% on its IPO price of 20c per share. It’s main game is the ‘Belara’ project in NSW, which includes two historical copper-zinc mines; Belara and Native Bee.
And up 22% in late trade is Infinity Lithium (ASX:INF) which has successfully scaled up production of battery grade lithium on the flagship ‘San Jose’ project in Spain.
Samples from this production run will also be given to potential offtake partners for testing, although INF is currently in court fighting the cancellation of its project permit.
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 M3M M3Mininglimited 0.27 -38.6% 3,528,535 EN1 Engage:Bdr Limited 0.0015 -25.0% 137,612,569 PSL Paterson Resources 0.024 -20.0% 7,084,611 CGA Contango Asset 0.7 -17.6% 10,000 MSI Multistack Internat. 0.046 -16.4% 420,756 KLR Kaili Resources Ltd 0.022 -15.4% 31,819 CRS Caprice Resources 0.155 -13.9% 409,915 LAW Lawfinance Ltd 0.5 -13.8% 44,217 PG1 Pearl Global Ltd 0.02 -13.0% 2,119,458 WEC White Energy Company 0.02 -13.0% 14,670,963 AFW Applyflow Limited 0.0035 -12.5% 60,000 TSC Twenty Seven Co. Ltd 0.0035 -12.5% 14,250,798 FXG Felix Gold Limited 0.14 -12.5% 398,626 HPP Health Plant Protein 0.175 -12.5% 163,000 LKY Locksleyresources 0.14 -12.5% 266,630 GRE Greentechmetals 0.295 -11.9% 644,126 AS2 Askari Metals 0.37 -11.9% 2,839,204 RFT Rectifier Technolog 0.077 -11.5% 58,869,039 SIH Sihayo Gold Limited 0.008 -11.1% 2,526,888
M3 Mining (ASX:M3M) has just been utterly smashed. The digger informed the ASX earlier today of what MD called a “fantastic”set of maiden drilling results at its Victoria Bore project near Exmouth in WA.
Its down nigh on 40%.
ANNOUNCEMENTS YOU MAY HAVE MISSED
Digital receivables management provider Credit Clear (ASX:CCR) has appointed its new CEO Andrew Smith to its board of directors following acquisition of his debt recovery solutions company ARMA Group Holdings.
Credit Clear manages customer accounts across a range of industries including financial services, transport, insurance and utilities. Following completion of the acquisition Smith was appointed CEO of Credit Clear Group of companies incorporating Credit Clear, Credit Solutions, ARMA, New Zealand Recoveries, Oakbridge Lawyers and Force Legal.
Lakes Blue Energy NL’s (ASX:LKO) has announced that the Wellesley-2 well, in Queensland, was spudded this morning (and no they’re not talking about potatoes but rather the start of drilling).
The Wellesley-2 well is a conventional vertical well targeting the Wellesley Dome, which contains a Best Estimate Prospective Resource of 41 billion cubic feet of gas. It is anticipated that drilling and testing of the well will take around 10 to 14 days, with the company to provide progress reports daily.
And Queensland energy retailer Local Planning Energy (ASX:LPE) is looking for cash injections, announcing a suspension from the bourse pending release of details of an equity raise by way of a placement.
The energy retailer has electricity, hot water, solar and batteries on contracts and is seeking to become the energy retailer for Bundaberg’s bioHub, which opened in October 2020 and counts biogas, biohydrogen laboratories, a data centre and crypto miner among its tenants.
Trading Halts
Titanium Sands (ASX:TSL) – funding facility
Traka Resources (ASX:TSL) – pending announcement regarding a capital raise
Taruga Minerals (ASX:TAR) – proposed capital raise