The ASX has recovered following yesterday’s strong blow, closing up 1.29% with all 11 sectors finishing in the green on lower than normal trading volumes.

Today’s biggest sector win was energy, up a nice 2.20% with the financial market following close behind at 1.93%.

The ASX Emerging Companies Index finished higher today too, even if by a small 0.40%. It’s all gravy baby.

 

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Fin Resources (ASX:FIN) shot up on acquisition news after snapping up a key licence at its flagship Sol Mar green hydrogen project in Western Australia’s Pilbara region. This adds a comfy 270.5 square km to its existing tenure near the town of Onslow and the Port of Ashburton.

And MGC Pharmaceuticals (ASX:MGC) soared after receiving Indian importation and sales approval for its AtemiC Rescue product, meaning the proprietary nutraceutical is now available for sale across India.

 

TODAY’S BIGGEST SMALL CAP LOSERS

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ANNOUNCEMENTS YOU MAY HAVE MISSED

Recce Pharmaceuticals (ASX:RCE) received positive safety data from the first cohort of its phase-1 clinical trial evaluating healthy subjects intravenously dosed with RECCE 327. Based on clinical data readouts, an independent safety committee has approved a threefold increase (from 50mg to 150mg) among 7-10 healthy subjects (cohort two), with subjects expected to be dosed at Adelaide’s CMAX clinical trial facility.

Clinical stage drug development company Noxopharm (ASX:NOX) has received a $5.865m cash refund under the Australian Government’s Research and Development Tax Incentive Scheme for R&D expenditure during FY 2021. The refund further strengthens the company’s cash position from $23.6m at the end of September as it positions itself as an innovative partnering target.

Shree Minerals (ASX:SHH) has executed a sale and purchase agreement with MetalsGrove Mining (ASX:MGM) for the divestment of its rights, title, and interest in the farm-in and Arunta joint venture and shareholder agreement with Territory Lithium Pty Ltd. MGM will make a cash payment of $50,000 to SHH. Projects of the Arunta Joint Venture are the Box Hole, Edwards Creek and Bruce Gold Projects located in the Northern Territory.

 

TRADING HALTS

The following companies are in trading halts and are expected out in the next few trading days:

Zenith Minerals (ASX:ZNC) – Alliance and JV over ZNC’s lithium projects

Iris Metals (ASX:IR1) – proposed material acquisition

Hiremii (ASX:HMI) – capital raising