• Small cap index up 1.1%, stronger than benchmark, but both do good, run hard.  
  • Wall Street snaps 3-day losing streak, China could be back in stimmy mode
  • Uranium’s gone insanium

 

The ASX 200 is up 0.7% and the Emerging Companies (XEC) index is about 1.1% higher as the Resources, Energy (up 1.7%), Miners and the All Ords Gold Sectors (up 2.7%) led gains.

There’s been movement at the station on Thursday as key commodity companies lifted on a typically tempting but lite on details Chinese stimmy announcement from a Wednesday night State Council executive meeting chaired by Premier Li Keqiang.

This is how the China Daily described it:

China will add follow-up measures to its policy package for stabilising the economy as part of intensified efforts to consolidate the foundation of economic recovery and growth, and task forces will be sent to localities to supervise and assist work on this front to promote policy implementation at a faster pace.

Fortunately Bloomberg’s Li Yanping continues to be drip fed some details with accordingly big numbers:

China’s Cabinet outlined a 19-point policy package as part of stimulus measures said to be worth 1 trillion yuan (US$145 billion).

As per Bloomberg markets here are likely rising on the potential of at least another:

300 billion yuan that state policy banks can invest in infrastructure projects, on top of 300 billion yuan already announced at the end of June. Local governments will be allocated 500 billion yuan of special bonds from the previously unused quota.

The Cabinet apparently sees China’s economy as continuing the momentum toward recovery… but marginal fluctuations remain and the foundation of economic recovery is not yet solid.

Stocks in the states rose overnight, that broke a very long three-day slide for the Dow Jones and the S&P 500, with traders loitering nearby for some J Hole clarity on the Fed’s tango with toppy inflation.

“Expectations of a hawkish message from FOMC Chair Powell at Jackson Hole will likely keep upward pressure on the USD in the run‑up to his speech on Friday (night our time),” Kristina Clifton CBA’s senior economist said in a note.

On the local bourse, uranium names led the rise following a double hit of nicely nuclear news –  Japan will not only restart idled nuclear plants – it will consider building new ones while India’s largest power producer, NTPC is looking to develop another big nuclear project just weeks after announcing its entry into the sector, so says Bloomers.

 

ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume Market Cap
WCN White Cliff Min Ltd 0.021 68% 66,473,157 $8,170,042
T3D 333D Limited 0.0015 50% 89,285 $3,044,297
VAR Variscan Mines Ltd 0.047 47% 26,260,094 $8,535,425
JTL Jayex Technology Ltd 0.01 43% 971,678 $1,744,600
GLA Gladiator Resources 0.02 33% 4,278,639 $8,012,549
SIS Simble Solutions 0.017 31% 5,749,971 $5,555,326
ASN Anson Resources Ltd 0.265 26% 41,619,934 $215,861,590
CCE Carnegie Cln Energy 0.0025 25% 1,227,856 $30,205,147
GGX Gas2Grid Limited 0.0025 25% 3,000,000 $8,116,204
KFE Kogi Iron Ltd 0.005 25% 40,000 $6,470,311
OAR OAR Resources Ltd 0.005 25% 250,000 $8,684,152
PRM Prominence Energy 0.0025 25% 52,000 $4,849,218
AMM Armada Metals 0.13 24% 345,839 $5,250,000
EL8 Elevate Uranium Ltd 0.5 23% 2,770,360 $111,575,765
RAS Ragusa Minerals Ltd 0.325 23% 18,493,757 $33,743,713
ADD Adavale Resource Ltd 0.033 22% 3,318,662 $11,809,071
NAG Nagambie Resources 0.073 22% 738,885 $30,788,769
AOA Ausmon Resorces 0.0085 21% 14,582,181 $6,001,025
CUE CUE Energy Resource 0.072 20% 1,478,467 $41,887,183
GTR Gti Energy Ltd 0.018 20% 23,203,148 $22,582,254
KNG Kingsland Minerals 0.18 20% 126,451 $3,857,226
LNU Linius Tech Limited 0.006 20% 4,746,174 $11,256,832
HHR Hartshead Resources 0.037 19% 14,542,765 $57,497,936
92E 92Energy 0.525 19% 5,451,691 $36,026,626
ASO Aston Minerals Ltd 0.099 19% 579,188 $92,423,068
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As mentioned it’s raining uranium on Thursday. Here’s Reuben’s pick of the small caps on morning trade:

But it’s Variscan’s (ASX:VAR) turn on the throne today, climbing this morning on news of some sunburn-busting zinc finds at its San Jose mine in northern Spain.

After an initial rush first thing in the morning, Variscan has eased to “only” be up 40% at close, narrowly edging out nearest Fast Climber rival Anson Resources (ASX:ASN), which has been on a rapid rise on the back of news it is partnering with global DLE leader Sunresin to develop a full-scale commercial lithium plant at Paradox Lithium Project.

 

ASX SMALL CAP LAGGARDS

Here are the worst performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price % Volume Market Cap
KEY KEY Petroleum 0.002 -33% 2,691,667 $5,903,784
SRK Strike Resources 0.1075 -20% 2,101,320 $36,450,000
WBE Whitebark Energy 0.002 -20% 52,812 $14,120,548
CCX City Chic Collective 2.01 -18% 11,541,871 $570,523,412
MPP Metro Perf.Glass Ltd 0.205 -18% 10,000 $46,344,522
CLE Cyclone Metals 0.0025 -17% 500,000 $18,350,211
DOC Doctor Care Anywhere 0.11 -15% 4,232,573 $29,538,614
MAN Mandrake Res Ltd 0.044 -15% 8,665,535 $27,793,996
GMLDA Gateway Mining 0.095 -14% 327,112 $24,861,170
OEQ Orion Equities 0.19 -14% 12,545 $3,442,830
RMI Resource Mining Corp 0.13 -13% 1,365,092 $62,725,962
SEG Sports Ent Grp Ltd 0.24 -13% 10,000 $71,805,808
3MF 3D Metalforge 0.014 -13% 1,085,989 $2,311,006
AE1 Aerison 0.175 -13% 129,717 $61,187,498
MEM Memphasys Ltd 0.029 -12% 1,714,461 $26,141,885
KLS Kelsian Group Ltd 5.59 -12% 5,394,624 $1,389,017,945
PG1 Pearl Global Ltd 0.022 -12% 2,447,145 $25,056,183
CUS Copper Search 0.185 -12% 96,806 $11,086,928
AM7 Arcadia Minerals 0.3275 -11% 2,953,693 $17,278,220
CMX Chemxmaterials 0.195 -11% 3,410 $10,194,965
BTN Butn Limited 0.12 -11% 38,524 $10,579,800
OIL Optiscan Imaging 0.12 -11% 184,957 $83,646,756
BPH BPH Energy Ltd 0.032 -11% 109,055,177 $23,938,137
G50 Gold50 Limited 0.165 -11% 3,014 $10,363,330
AEI Aeris Environmental 0.05 -11% 82,600 $13,685,057
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Alas, City Chic (ASX:CCX) has fallen off the catwalk, diving well over 20% after missing FY22 expectations, The fashion group delivered a near 40% rise in FY22 revenue, lifting net profit by over 11% to $47m.

Unfortunately eagle-eyed brokers at UBS analysts were disappointed by softer than anticipated earnings and margins.

 

WHAT YOU MAY’VE MISSED ON THE ASX TODAY

Time to channel our inner weight watchers with a double helping of light’n’easy stories this afternoon, including details from Codrus Minerals’ (ASX:CDR) non-renounceable entitlement issue of options to eligible shareholders.

If your name’s on the list by 5pm (WST) on 31 August 2022, you’ll be rewarded on the basis of one (1) New Option (Loyalty Option) for every two (2) Shares held, at an issue price of $0.001. If you’re not on the list, then you can’t come in, on the basis of the club already being full, or you’re wearing the wrong shoes.

Elsewhere, Australian Pacific Coal (ASX:AQC) is swatting away suitors like a Bronte novel brat, after M Resources (that’s a company, not the son of Mr and Mrs Resources) stepped up to proffer an offer it hopes will beat Trepang’s three-act play for 100% of AQC earlier this week.

M Resources says it’ll stump up the dough for 14.99% of shares in AQC at $0.36 per share for a total of $2.7 million against Trepang’s play for 19.97% of the shares in AQC at $0.30 per share for a total of $3.78 million. 

Act 2 remains the same drawn-out settling of outstanding (but not excellent) AQC debts, but for a blistering Act 3, M Resources has dropped a mega-twist: an all cash consideration proposed price is $0.36 per share or approximately $18.2 million, eclipsing Trepang’s $0.30 per share offer.

 

TRADING HALTS

Riversgold (ASX:RGL) – Acquisition news (Creek v Canal)

Elixir Energy (ASX:EXR) – More acquisition news (Red Bull v Monster)

Hastings Technology Metals (ASX:HAS) – And another acquisition announcement (France v England)

Codrus Minerals (ASX:CDR) – There’s a Loyalty Option Entitlement Offer in the offing.

Invictus Energy (ASX:IVZ) – Invictus has asked for a pause, before info on its exploration rights to the Exclusive Prospecting Orders 1848 and 1849 are published in the Zimbabwe Government Gazelle. Sorry, Gazette. That should say Gazette. 

Australian Pacific Coal (ASX:AQC)  – AQC has received another Non-Binding Indicative Proposal. *sigh*… must be nice to feel wanted.

Mobilicom (ASX:MOB) – Nasdaq listing and Capital raise. It’s a difficult manouvre, manouvere… move that the judges should score well. 

Magnum Mining (ASX:MGU) – Capital raise.

Matsa Resources (ASX:MAT) – Capital raise.