• Small Caps, ASX 200 slide on commodities sell off
  • Energy, resources, materials all down circa 5% off setting gains for IT et al
  • BNPL names are back in the green


This is difficult, maudlin trade to watch. Two speed investing at its finest.

Sentiment has soured on both the benchmark ASX 200 and the Emerging Companies (XEC)  index as heavy selling swamps all corners of the commodities complex.

Both indices have been inert and unable to break the surface, despite a stonking day for the tech names and  some of the consumer stocks.

But those unexpectedly sharp gains couldn’t get near offsetting losses in the traditional mining, materials and energy spaces on the growing fears of recession and general calamity.

That’s what triggered a plunge in oil prices and the broader energy sector. Biggies Woodside Energy (ASX:WDS) is down well over 5%, Santos (ASX:STO) about 4%.

Metals led by cop out copper and gormless gold have wilted, despite some very strong updates turning heads as well.



(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
CDD Cardno Limited 0.33 200% 1,965,093
CBE Cobre 0.054 38% 1,131,596
IEC Intra Energy Corp 0.011 38% 15,000
FRS Forrestaniaresources 0.18 33% 88,138
SZL Sezzle Inc. 0.515 32% 2,045,350
AQS Aquis Ent Ltd 0.155 29% 67,596
DOU Douugh Limited 0.022 26% 2,764,062
HIQ Hitiq Limited 0.054 26% 227,159
LNU Linius Tech Limited 0.005 25% 55,887
IOU Ioupay Limited 0.082 24% 35,595,894
DMM Dmcmininglimited 0.1 23% 172,386
SFG Seafarms Group Ltd 0.016 23% 5,430,940
PIL Peppermint Inv Ltd 0.011 22% 12,192,483
OPY Openpay Group 0.195 22% 421,629
ALY Alchemy Resource Ltd 0.017 21% 4,832,371
PRL Province Resources 0.077 20% 10,190,420
DC2 Dctwo 0.06 20% 248,062
AYM Australia United Min 0.006 20% 1,931,343
BAT Battery Minerals Ltd 0.006 20% 15,729,388
WSP Whispir Limited 1.135 19% 416,360
BOA Boadicea Resources 0.155 19% 480,710
SKF Skyfii Ltd 0.05 19% 100,000
RC1 Redcastle Resources 0.019 19% 90,571,691
JAY Jayride Group 0.16 19% 123,877
MRL Mayur Resources Ltd 0.09 18% 56,000
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I like to ignore really bad news, so let’s talk about tech, baby.

The Kraken snoozing inside the IT sector rolled on to its side on Wednesday, finding about 3.5% on the back of good money for biggies Megaport  13.5% and Xero which is up about 6%.

But thanks largely to articulate and timely analysis from Eddy ‘Work Now Play Later’ Sunarto, the BNPL people have done pretty well out there.

Sezzle (ASX:SZL), is one tech stock on the grill, salted with a seasonally staggering 35% in the wake of an upgrade from UBS for the entire BNPL sector earlier this week.

And thus swimming up stream, so to speak, is Zip Co (ASX:ZIP) performing like a well-fed, highly motivated salmon with a bladder full of baby BNPLs –  up almost 16%, and hot on the heels of the other 85% it’s lost since the year started.

It’s also Zip‘s 9th birthday this week which means Australia (the up-stream birthplace of the whole BNPL thing) has had nearly a decade of living in a  BNPL world. We’re also the the one market where Zip is churning out a decent profit.

And IOUpay (ASX:IOU) has added to its recent gains by surging another 20% or so.

Irish friendly EML Payments Limited (ASX:EML) is up strongly as well. It’s partner and key European client, Correos – the Spanish national post office network – are all set to launch a collab in support of the issuing of the Bono Cultural Joven 2022 (Youth Cultural Bonus) tender for the government Espagnol.

The scheme will see approximately 500,000 virtual prepaid cards loaded with €400 each and handed out to eligible 18 year olds (in Spain), to support the cultural sector that was hit hard by COVID – a noble cause which, thank the lord, has absolutely nothing to do with the lead singer of U2, who is highly likely to turn up anyway because someone has no doubt said his name three times into a mirror somewhere.

Elsewhere, road toll tech guys Eroad (ASX:ERD) also put its foot down this morning, motoring along the highways of finance to grab an additional 17.4% worth of street-cred after its corporate governance roadshow last week mapped out ways for the company to shift gears, change lanes to find further avenues of success.



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

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

Security Description Last % Volume
MGA Metals Grove Mining 0.145 -28% 1,240,608
BEX Bikeexchange Ltd 0.023 -26% 984,123
AVW Avira Resources Ltd 0.003 -25% 4,228,678
MEB Medibio Limited 0.0015 -25% 357,750
WBE Whitebark Energy 0.0015 -25% 5,485,511
SXG Southern Cross Gold 0.365 -25% 2,868,523
TG6 TG Metals 0.115 -23% 100,573
SIO Simonds Grp Ltd 0.16 -20% 40,358
GGX Gas2Grid Limited 0.002 -20% 25,161
PRM Prominence Energy 0.002 -20% 1,692,118
LRL Labyrinth Resources 0.021 -19% 3,360,581
ZAG Zuleika Gold Ltd 0.022 -19% 60,000
CNJ Conico Ltd 0.024 -17% 15,269,491
AL3 Aml3D 0.083 -17% 583,195
1ST 1St Group Ltd 0.005 -17% 158,000
AUK Aumake Limited 0.005 -17% 100,000
CAD Caeneus Minerals 0.005 -17% 2,476,693
CTO Citigold Corp Ltd 0.005 -17% 2,238,158
WCN White Cliff Min Ltd 0.01 -17% 4,279,529
ASQ Australian Silica 0.046 -16% 398,729
GSN Great Southern 0.033 -15% 1,169,281
AME Alto Metals Limited 0.06 -14% 1,224,087
MCT Metalicity Limited 0.003 -14% 3,640,064
POS Poseidon Nick Ltd 0.043 -14% 42,792,061
A1M Aic Mines Ltd 0.43 -14% 183,673
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Southern Cross Gold (ASX: SXG) really merits heading this list. The explorer has shed more than a quarter of its value after reporting some high-grade hits near-surface as well as some lateral extensions of the Apollo structure at Sunday Creek.

SXG told the market, the high-grade, vein-hosted hits really demonstrate the straight-shooting, horizontal continuity of what SXG reckons is a steeply-plunging shoot. Down 26%.



It looks like the latest season of Who Wants to Own a Casino? is hotting up, after current owner of Canberra Casino Aquis Entertainment (ASX:AQS) fired off a couple of announcements during the day. Aquis has originally been set to sell the casino to Capital Leisure & Entertainment Pty Ltd, which is owned and controlled by interests associated with the Oscars Group, for $52 million.

Aquis then got a better offer from a third party that was “materially higher” than $52m, and went back to Oscars to see if it had a response, which it did – seeing that bid and upping the price to $58.2m with a $1 million break fee attached if Aquis went with another buyer. 

And then later this afternoon, Iris CC Holdings (Iris Capital) – our mystery third-party – shot back a $60m offer, with a similar break fee structured in. No word yet on which way Aquis is going to leap, but with its shares in voluntary suspension, there’s adequate time for both offers to be considered before it goes all-in.

Meanwhile, Mayur Resources Limited (ASX:MRL) has executed a binding offtake agreement (Agreement) with titanium pellet producer Qingdao Shinebest (Shinebest) for the sale of vanadium titano-magnetite (magnetite) product (Product) from the Orokolo Bay Iron and Industrial Sands Project (Orokolo Bay or the Project).

The agreement covers 300,000 tonnes per annum for a 3-year period, with an option to extend for a further year, at market linked pricing, replacing the existing agreement the two companies had in place.

Still among the diggers, Valor (ASX:VAL) unveiled a series of highly prospective targets to be followed up during the review, which was carried out to better understand the project’s multi-commodity potential.

Of particular note was drilling carried out on the Surprise Creek Fault uranium target, which was highlighted by an intercept of 2.1m at 4.37% uranium oxide from 57m, including 0.9m at 7.5% uranium oxide.

Other significant historical uranium drill results included 1.5m at 0.1% uranium oxide, 0.43m at 0.49% and 0.15m at 0.83%.

The company said drilling at Surprise Creek Fault – a target comprising a uranium geochemical anomaly in soils over 500m in strike length – only ever partially tested the area and remained open in several directions.

Rock chip samples from the area tested as high as 6.37% uranium oxide, associated with a north-northwest striking fault system.



CFOAM Limited (ASX:CFO) – On hold because the company is busy being blown onto the beaches of Australia’s east coast. (Just kidding – there’s news about a corporate transaction and ASX price query).

Lumos Diagnostics Holdings Limited (ASX:LDX) – Announcement about a regulatory update pending.

Kyckr Limited (ASX:KYK) – Response to a general query about how to say the company name (“It’s Kicker. K-Y-C-K-R, Kicker”), plus there’s a corporate transaction looming.

Pancontinental Energy NL (ASX:PCL) – Capital raising.

Estrella Resources Limited (ASX:ESR) – Capital raising.