• ASX 200 and small caps rise circa 1%
  • Regional markets jump on strong leads, US inflation data
  • Ragusa Metals: up 60%

Local markets took off at the open, feeling a little of the excitement which took hold of Wall Street overnight.

The benchmark and the All Ords have kept their heads above water, but the gains have not been forthcoming. The Consumer Discretionary sector and the Real Estate stocks both gained over 2%.

The Materials sector has moved higher, helped by resurgent lithium names, and there’s also another run on coal stocks, after the European’s ban on Russian coal as part of the EU’s latest (fourth of fifth round of sanctions) which kicked off overnight.

Technology stocks are back in rotation and on a big day for Telstra (ASX:TLS), communications businesses have found some traction.

Like the fickle index it calls home, TLS gave back its morning riches of well over 1%, after lifting its closely-tracked dividend for the first time in seven years.

Hong Kong markets have jumped higher circa 1.8%, driven higher by a flood of interest in the Hang Seng tech index which is rising, 2.8% stronger.

Mainland China markets are also killing it – both the Shanghai Composite and the Shenzhen Component between 1.5% to 1.8%.

 

ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks for today [intraday]:

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

Code Company Price % Volume Market Cap
RAS Ragusa Minerals Ltd 0.175 75% 25,100,613 $12,573,616
1MC Morella Corporation 0.028 40% 173,950,889 $112,524,280
CHK Cohiba Min Ltd 0.012 33% 4,613,236 $14,648,947
BNZ Benzmining 0.525 31% 314,410 $21,067,802
SIS Simble Solutions 0.017 31% 5,716,904 $5,555,326
1VG Victory Goldfields 0.245 29% 1,156,350 $7,307,048
TNY Tinybeans Group Ltd 0.3 28% 103,138 $14,345,457
BNR Bulletin Res Ltd 0.165 27% 5,701,935 $38,036,843
LYN Lycaon Resources 0.3 25% 188,151 $7,660,500
ARE Argonaut Resources 0.0025 25% 1,750,650 $7,212,410
KFE Kogi Iron Ltd 0.005 25% 6,546,334 $6,470,311
MGG Mogul Games Grp Ltd 0.0025 25% 1,100,000 $6,523,320
SHH Shree Minerals Ltd 0.01 25% 14,003,314 $9,907,895
WBE Whitebark Energy 0.0025 25% 233,533 $11,296,438
WZR Wisr Ltd 0.0995 24% 8,852,877 $108,496,378
LPM Lithium Plus 0.74 22% 2,749,367 $26,994,011
CXU Cauldron Energy Ltd 0.011 22% 7,034,566 $4,818,701
ASQ Australian Silica 0.067 22% 468,721 $15,216,321
MM1 Midas Minerals 0.28 22% 311,704 $13,140,306
HCD Hydrocarbon Dynamic 0.018 20% 1,748,100 $8,805,908
RGL Riversgold 0.042 20% 20,594,143 $26,473,160
TD1 Tali Digital Limited 0.006 20% 830 $6,163,153
LRS Latin Resources Ltd 0.11 20% 34,237,572 $179,016,737
LCL Los Cerros Limited 0.043 19% 3,957,861 $23,423,359
TMB Tambourah Metals 0.19 19% 31,243 $6,590,816
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As my fine colleague Gregor Stronach points out, Ragusa Minerals (ASX:RAS) has jumped out of the blocks, finding 50% after breakfast on news of high grade lithium in rock chips at its NT project.

Ragusa is reporting rock chip sample results including 5.46% Li2O at one sample site, and a bonus 2.27g/t and 4.59g/t gold at others, after the company targeted outcropping pegmatite for a closer look.

Ragusa is gearing up to progress to drilling.

Up 100% in the past year, this ~$17.06m market cap explorer acquired the early stage Northern Territory Lithium Project back in May.

At the time, RAS chair Jerko Zuvela said the acquisition would see the company create a ‘supergroup’ project area comparable to neighbours Core Lithium (ASX:CXO) and Lithium Plus (ASX:LPM).

Speaking of the ‘hood, LPM is making some big moves today as well, encountering a thick interval of 43m of pegmatite from 191.9m has been intersected.

The second diamond drill hole at Lei is underway.

“We are pleased with the samples from our maiden diamond hole at the Lei Prospect, which have visibly validated the historical spodumene-bearing pegmatite system at depth and provide us confidence that we may have a significant lithium discovery at Bynoe,” executive chairman Bin Guo says.

Other companies on the charge include Benz Mining (ASX:BNZ), Lycaon Resources (ASX:LYN) and Tambourah Metals (ASX:TMB)

High-tech child surveillance company TinyBeans (ASX:TNY) has spiked over 25% as well, but without any clear motivation for the rise.

 

ASX SMALL CAP LAGGARDS

Here are the best performing ASX small cap stocks for today [intraday]:

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

Code Company Price % Volume Market Cap
AFW Applyflow Limited 0.002 -33% 10,518,747 $8,872,824
CLE Cyclone Metals 0.003 -25% 3,864,557 $24,466,948
TRM Truscott Mining Corp 0.037 -24% 688,882 $7,735,657
CCE Carnegie Cln Energy 0.002 -20% 9,975,629 $37,756,434
PRM Prominence Energy 0.002 -20% 285,805 $6,061,522
VPR Volt Power Group 0.002 -20% 515,921 $23,361,334
IBG Ironbark Zinc Ltd 0.021 -19% 39,445,058 $33,984,663
AIV Activex Limited 0.032 -18% 109,177 $8,431,901
DMG Dragon Mountain Gold 0.015 -17% 500,000 $7,086,090
TSL Titanium Sands Ltd 0.015 -17% 78,000 $22,652,266
MCM Mc Mining Ltd 0.2 -15% 58,261 $46,448,894
LYK Lykosmetalslimited 0.15 -14% 1,285 $10,920,000
IRX Inhalerx Limited 0.056 -14% 100,000 $10,950,352
EMT Emetals Limited 0.0095 -14% 10,067,122 $9,350,000
WWG Wiseway Group 0.1 -13% 113,250 $19,238,795
FRB Firebird Metals 0.19 -13% 46,197 $11,416,098
ADY Admiralty Resources. 0.007 -13% 18 $10,428,633
ARO Astro Resources NL 0.0035 -13% 676,637 $18,820,965
FAU First Au Ltd 0.007 -13% 1,050,630 $7,451,288
GTG Genetic Technologies 0.0035 -13% 2,307,737 $36,935,861
JAY Jayride Group 0.18 -12% 112,480 $36,158,773
MIO Macarthur Minerals 0.185 -12% 104,850 $33,863,232
MLG Mlgozltd 0.53 -12% 65,617 $87,401,498
BYI Beyond International 0.31 -11% 33,500 $21,467,939
YPB YPB Group Ltd 0.008 -11% 242,134 $3,658,915
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WHAT YOU MAY’VE MISSED

Horseshoe Metals (ASX:HOR) has announced positive results of initial reverse circulation drill  testing of the significant surface materials including stockpiles and dumps at its Horseshoe Lights Copper-Gold Project in WA.

  • 5m @ 1.07 % Cu from 2m (Copper Subgrade Stockpile)
  • 8m @ 0.51 % Cu from 8m (Copper Oxide Stockpile) 
  • 10m @ 1.63 g/t Au from 0m (Gold A Stockpile)
  • 4m @ 1.77 g/t Au from 4m (Gold D Stockpile)
  • 9m @ 2.09g/t Au from surface (C20 Stockpile)

HOR said further infill drilling of stockpiles was planned to follow-up the encouraging results. The Horseshoe Lights Copper-Gold Project is the original Cu/Au VMS discovery in the Bryah Basin ~60km west of DeGrussa Copper Mine operated by Sandfire Resources (ASX:SFR).  

BNPL player Openpay (ASX:OPY) is increasing its share purchase plan (SPP) after strong demand.  After the necessary approvals at yesterday’s extraordinary general meeting, OPY has decided to accept over subscriptions under the SPP in excess of the previous $2 million but subject to maximum application of $30k. 

OPY is now targeting to raise $5.75 million under the SPP with the placement closing at 5pm today. 

Staying with the theme of placements copper producer Austral Resources (ASX:AR1) has announced that it has received firm commitments to raise $17 million in an institutional placement of ~45.9 million shares at 37 cents/share. 

Managing director and CEO Dan Jauncey will subscribe for $1 million worth of new shares subject to shareholder approval. 

“We are delighted with the support for the placement and welcome a number of new institutional investors to the register,” Jauncey said.

And finally, Polymetals Resources (ASX:POL) has appointed experienced geologist Alistair Barton as a non-executive director.

Barton has 45 years of exploration, operational and corporation experience, including high up in ASX listed companies. His appointment follows retirement of non-executive director Dr Chris Johnston, effective immediately.  

 

TRADING HALTS

Opthea (ASX:OPT) – It’s time to bust out the spreadsheets – Opthea’s opting into a non-dilutive funding agreement, and a proposed equity raising.

Province Resources (ASX:PRL) – Province is in the middle of finalising terms of a material agreement being the Joint Development Agreement with Total Eren for the Company’s HyEnergy Project. 

Redflow (ASX:RFX) – Redflow’s raising capital to keep the zinc bromine flow battery company a-growin’ and a-flowin’. 

4DS Memory (ASX:4DS) – 4DS has an announcement on the way about the quality of the wafers it has received. We’ll try to remember to keep an eye out for that one. 

Proteomics International Laboratories (ASX:PIQ) – predictive diagnostics gurus are raising capital to build more gadgets to keep us all well. 

Meeka Metals (ASX:MEK) – Meeka’s making hay while the sun shines, getting into a capital raise after its price hit the afterburners on Tuesday. 

Paradigm Biopharmaceuticals (ASX:PAR) – PAR is out to subvert the dominant paradigm… nah, just kidding. It’s a capital raise.

Strategic Energy Resources (ASX:SER) – SER’s on the hunt for a cool half-million. 

Sunshine Gold (ASX:SHN) – And Sunshine’s also opening up a fundraiser, announcing it capita raise late this afternoon.