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Firstly, we’ve ended higher in Emerging Co world.
That squadron of ASX small caps are dead-set legends, and often find a way to get us over the line.
So relax a moment. We’ve some big market moving stuff on for tomorrow.
We’ve got a pretty key headline (CPI) inflation read, ready to rumble and the consensus POV is a quarterly rise of 1.8% in Q2, which as Diana Mousina told me but hours earlier takes the annual inflation rate to 6.2%, its highest level since 2001.
And as Mr Tony Sycamore over at City Index warned me earlier as well:
“A print much higher than that followed by a hawkish Fed would raise the chances that the RBA opts for a 65 or 75bp rate hike when it meets next Tuesday.”
Yikes.
In far less important but strangely therapeutic Tuesday arvo economic indication – to this week’s consumer confidence read – I really am starting to enjoy these.
So. The good news today is the ANZ-Roy Morgan (capital C) Consumer Confidence index lifted for a second straight week.
The bad news is – confidence is so deeply depressed it’s back where we were at the onset of the COVID-19 pandemic circa early 2020. I myself was maudlin.
Now that’s done – the Emerging Companies (XEC) index is ahead by 0.8%, the benchmark is up a little less, because it’s not as flexible, durable (Resources heavy) or as much fun as that tough little list of tough little companies.
The anti-counterfeit tech legends at Security Matters (ASX:SMX) are leaving the ASX to merge with a big American special purpose acquisition company (SPAC) on the Nasdaq in a fairly crazy deal that will increase the SMX per share value by more than 15 times. They’ve gained about 155% on the news.
Here’s a few more less-little ones that’ve done pretty good:
Here are the best performing ASX small cap stocks [intraday]:
| Code | Company | Price | % | Market Cap |
|---|---|---|---|---|
| SMX | Security Matters | 0.28 | 155% | 2,518,012 |
| ANL | Amani Gold Ltd | 0.002 | 100% | 4,500,000 |
| POL | Polymetals Resources | 0.15 | 67% | 411,602 |
| SZL | Sezzle Inc. | 0.36 | 38% | 9,322,003 |
| B4P | Beforepay Group | 0.54 | 32% | 171,782 |
| ICN | Icon Energy Limited | 0.017 | 31% | 193,306 |
| PCK | Painchek Ltd | 0.035 | 25% | 1,961,030 |
| OAR | OAR Resources Ltd | 0.005 | 25% | 4,507,501 |
| APS | Allup Silica Ltd | 0.096 | 25% | 15,157 |
| MLD | MACA Limited | 0.99 | 24% | 8,171,467 |
| NXS | Next Science Limited | 0.99 | 24% | 247,694 |
| OEC | Orbital Corp Limited | 0.245 | 23% | 6,431 |
| RVS | Revasum | 0.3 | 22% | 348,937 |
| SPT | Splitit | 0.255 | 21% | 7,146,789 |
| MYR | Myer Holdings Ltd | 0.485 | 21% | 8,299,881 |
| SPQ | Superior Resources | 0.047 | 21% | 8,086,600 |
| DM1 | Desert Metals | 0.27 | 20% | 75,917 |
| ZIP | ZIP Co Ltd.. | 1.025 | 20% | 33,268,543 |
| BEM | Blackearth Minerals | 0.098 | 20% | 2,501,646 |
| ARN | Aldoro Resources | 0.19 | 19% | 107,809 |
| E79 | E79Goldmineslimited | 0.13 | 18% | 18,039 |
| 1MC | Morella Corporation | 0.02 | 18% | 24,375,781 |
| RNU | Renascor Res Ltd | 0.2175 | 18% | 20,605,597 |
| DDH | DDH Drill | 0.74 | 17% | 2,138,380 |
| INV | Investsmart Group | 0.27 | 17% | 103,791 |
Swipe or scroll to reveal full table. Click headings to sort:
Firstly, the stock price is +150% higher today after Security Matters (ASX:SMX), has officially entered into a business combination agreement and accompanying scheme implementation deed with the Nasdaq-listed Lionheart III Corp (NASDAQ:LION).
The new arrangement will see SMX list on the Nasdaq via a newly-formed Irish company (to be named SMX Ireland!), with existing SMX shareholders set to receive consideration via a scheme of arrangement consisting of an aggregate of 20,000,000 ordinary shares of SMX Ireland.
Following in the footsteps of Zip Co (ASX:ZIP) and former bride to be Sezzle (ASX:SZL) a whole flotilla of forlorn buy now, pay later companies are doing pretty well on Tuesday.
Sezzle is up HEAPS. Zip Co about 20% (after reporting a June qtr 27% increase in revenue and a pretty fab lift in customer number’s to 12 million. They’re pulling out of some ill-advised foreign adventures too.) Also, Splitit (ASX:SPT) is up 16% and Humm (ASX:HUM) almost 4%.
In the world of resources, Polymetals Resources (ASX:POL), is abso killing it on abso zero news – and low volumes – a phenomenon, Gregor notes, we’ve seen quite a bit of lately, and which is no doubt causing consternation among certain elements of the ASX regulators.
Semiconductor processing equipment firm Revasum (ASX:RVS) is up on the news Scott Jewler is the new president and CEO.
Dart Mining (ASX:DTM) is up strongly after entering into an earn-in with SQM Australia’s wholly-owned subsidiary Sociedad Química y Minera de Chile, giving SQM the right (but not the obligation) to sole fund exploration worth $12 million over the next six years at the Dorchap Lithium Project.
Here are the best performing ASX small cap stocks [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Market Cap |
|---|---|---|---|---|
| GMN | Gold Mountain Ltd | 0.005 | -29% | 1,769,900 |
| CPT | Cipherpoint Limited | 0.013 | -26% | 2,778,584 |
| AR9 | Archtis Limited | 0.175 | -24% | 1,692,151 |
| NTO | Nitro Software Ltd | 1.26 | -23% | 10,858,115 |
| RCR | Rincon | 0.105 | -22% | 10,000 |
| WYX | Western Yilgarn NL | 0.11 | -21% | 12,679 |
| W2V | Way2Vatltd | 0.038 | -21% | 63,275 |
| GGX | Gas2Grid Limited | 0.002 | -20% | 1,500,000 |
| COY | Coppermoly Limited | 0.009 | -18% | 340,000 |
| MRD | Mount Ridley Mines | 0.0045 | -18% | 8,031,117 |
| SPA | Spacetalk Ltd | 0.058 | -17% | 1,075,118 |
| LAM | Laramide Res Ltd | 0.5 | -17% | 500 |
| TD1 | Tali Digital Limited | 0.005 | -17% | 100,243 |
| WBE | Whitebark Energy | 0.0025 | -17% | 3,046,013 |
| HMG | Hamelingoldlimited | 0.11 | -15% | 13,475 |
| BRX | Belararox | 0.355 | -14% | 183,684 |
| AQC | Auspaccoal Ltd | 0.09 | -14% | 64,789 |
| RML | Resolution Minerals | 0.009 | -14% | 834,821 |
| AVW | Avira Resources Ltd | 0.003 | -14% | 7,463 |
| CL8 | Carly Holdings Ltd | 0.03 | -14% | 20,000 |
| IHR | intelliHR Limited | 0.063 | -14% | 257,864 |
| TML | Timah Resources Ltd | 0.07 | -14% | 10,000 |
| G50 | Gold50Limited | 0.13 | -13% | 1,531 |
| CCZ | Castillo Copper Ltd | 0.013 | -13% | 4,374,960 |
| VAN | Vango Mining Ltd | 0.04 | -13% | 527,040 |
Nitro Software (ASX:NTO), is bleeding out after investors were miffed it failed to hit previous guidance – despite lifting year on year annual recurring revenue (ARR) of US$57 million to US$60 million, that’s yYoY growth of as much as 30%.
But, it still wasn’t the ARR promised – which was US$64m to US$68m, YoY targeted growth of as high as 47%.
Montem Resources (ASX:MR1) has announced that it has completed the pre-feasibility engineering and design, cost estimates and project economics for the Pumped Hydro Energy Storage at the awesomely-named TM-Rex project in Canada.
Montem says that the study reckons there’s plenty of scope for the Tent Mountain Mine to be transitioned into a a renewable energy complex, in light of the pre-feasibility study’s “compelling” findings which have identified a combination of “no fatal flaws and strong economics” for the plan.
Mega-Ounce Gold Club member Big River Gold (ASX:BRV) says it’s got some fresh and exciting exploration drilling results from its Borborema Resource project extension in Brazil.
Highlights of the results are:
Blue Energy (ASX:BLU) – Bake sale. Capital Raise. Call it what you will.
De.mem (ASX: DEM) – Capital raise to fund a program to find new ‘forever homes’ for lost or abandoned punctuation.
Godolphin Resources (ASX:GRL) – Capital raise for funds to purchase new things for that lady on the horse who has no clothes.
Rimfire Pacific Mining (ASX:RIM) – There’s an update in relation to receipt of funds from Golden Plains Resources in relation to the Fifield Project Earn-in on the way.
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