So basically, this is how I read it. Because of two really screwball takeover ideas involving the A2 Milk Co and AGL Energy —  two of the more screwball companies floating about on the benchmark index — the S&P/ASX200 is higher on Monday, gaining around 20 points or 0.3%.

Over the last five days, the index is virtually unchanged, but has lost 2.7% for the year to date.

It’s just the kind of Monday on the bourse The Bangles used to get upset about, when the top two performing stocks are the A2 Milk Co (up 11.3%) and AGL Ltd (10.8%).

 

For a more mature, more nuanced and appropriate assessment of what Monday trading is really like we turn to what is expressed in the the S&P/ASX Emerging Companies Index (XEC) where we’ve been smashed and losses have accumulated throughout the trading day, down 1.9%.

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Auking Mining (ASX:AKN) stood up and was counted on Monday, due to a drilling hit which included a 16.6m chunk grading 10.2% copper and 316g/t silver at the ‘Onedin’ deposit from its Koongie Park project in Western Australia.

Also climbing on no discernable news, Rincon Resources (ASX:RCR) – a $5m market cap digger with a project called ‘South Telfer’ in the classy Paterson Province, about 12km from the large Telfer gold mine which produced 393,164 ounces of gold and 16,278 tonnes of copper in FY21.

Results from a December drilling program released last week were initially disappointing – low-level copper-gold “despite intersecting favourable zones of alteration,” but Reuben says RCR reckons the target is still there; they just missed it somehow.

Up about 25% is Lefroy Exploration (ASX:LEX). The Kalgoorlie explorer has hit thick, high grade gold underneath a salt lake at the emerging ‘Burns’ discovery.

Sub-$10m nanocap Swift Networks (ASX:SW1) pulled a namesake after flagging a strong start to the second-half with seven new projects wins. It’s up about 13%.

Not the smallest cap in town, but let’s take a moment to root for Aussie Broadband band its share price,  which hit a calendar year PB after the upstart telco returned to profit.

The 7% rise, comes on the back of the major telco’s being generally awful at internet stuff, and because net profit after tax attributable to members (…sigh, NPATAM) more than doubled, delivering a $1.4m win, compared to a loss of $10.5m the same time last year.

 

TODAY’S BIGGEST SMALL CAP LOSERS

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

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Shares in Tyro are getting scourged, down by almost a full third after profits just imploded some 425%. It swings the payments provider to a loss of well over $18 million for the six months to December 31.

It’s an utterly wretched result. EBITDA is down more than two thirds – 67.2% – and the March 2020 Covid-inspired record low is not looking that far away.

ANNOUNCEMENTS YOU MAY HAVE MISSED

Technology and wearables developer SpaceTalk (ASX:SPA) has recorded a 50% increase in revenue on PCP of $12.3 million for the 1H FY22.

Revenue growth was aided by geographic diversification with Spacetalk wearables now sold in Australia, New Zealand, the UK, Finland, Norway, Sweden, Canada and the US.

Annualised recurring revenue (ARR) from the Spacetalk app’s monthly subscriptions was $3.5 million, up 52% compared to pcp, which the company says validates its strategy of building an integrated eco-system.

Total wearablers revenue was up 58% to $11.4 million. Spacetalk products are wearable devices in the form of smartphone-lite GPS watches which have functions like heart rate monitoring and in-built features for the safety of kids and seniors.

Local goldie, Iris Metals (ASX:IR1) is enjoying Monday with its first drill program at the Kookynie project nudging near-surface gold across every single prospect drilled.

Not super surprising, since Kookynie is renowned for its historical high-grade gold production and bonanza gold grades – plus its in the highly prospective Tier-1 mining jurisdiction of Leonora in WA.

Results from the Lily prospect include:

  • 8m at 3.9 g/t from 17m, including 1m at 7.6 g/ and;
  • 5m at 6.1 g/t from 34m, including 1m at 22.7 g/t

Oar Resources (ASX:OAR) is all set to restart drilling at its Douglas Canyon gold project in Nevada just as gold prices touch US$1900/oz.

The Aussie-listed OAR is now just days away from restarting diamond drilling in the USA’s prolific Walker Lane gold and silver district, home to numerous multi-million ounce high-grade gold deposits including Kinross’ Round Mountain gold mine.

Killi’s (ASX:KLI) district-wide evaluation has identified new gold prospects over 100km in strike within the Tanami gold province, host to more than 18Moz of gold.

These gold targets, which have been generated using similar analogues to that of Newmont Corporation’s (NYSE:NEM) Callie Gold Mine, and Northern Star’s (ASX:NST) Kookaburra and Coyote gold mines, are on top of the 95km of rare earths strike recently identified at Killi’s Tanami Gold Project.

Three corridors have been established over the project to prioritise KLI’s exploration strategy and represent the major gold systems they are associated with, Callie Corridor, Kookaburra Trend, and the Coyote Corridor.

The company says it is making plans for drilling in the 2022 field season with field work to begin as soon as possible.

TRADING HALTS

The following companies went into trading halts Monday.

MadPaws Holdings (ASX:MPA) – material acquisition/ capital raise

Genex Power Limited (ASX:GNX) – capital raise