Closing Bell: The emerging companies index is super flat, maybe time to pop a small cap in your glass

Pic: Getty

The ASX 200 index has closed 1% higher on Monday, while the ASX Emerging Companies (XEC) index shed earlier gains to finish down 0.1%.

Disappointing, really. It shoulda been a day for the little guys.

Asia was mixed. Although not the Hong Kong Hang Seng which languishes at a near six-year low as Covid crawls about the mainland and tech firms flop over fears of a further crackdown.

At home, trading was inventive through the session, ignoring a weak close on Wall Street as US traders schemed and planned for this week’s inflation-full Federal Reserve shindig, where the galaxy’s central bank is going to raise interest rates or return the keys to Jackson Hole.

Deflatingly pumped

Certainly filling the car has become a deflationary experience of late.

The competition regulator says the average cost of filling up in our five biggest cities topped 182.4 cents per litre by late-February – the highest level since 2014.

The Commonwealth Bank says prices oil could smash $US150 a barrel if the war in Ukraine goes into overdrive or even just drags out – either scenario could have us pouring unleaded petrol into our *Yarii at $2.50 a litre.

Prices have risen further in the first two weeks of March with motorists paying over $2.40 for premium fuels in most parts of the country, while the wholesale petrol price has risen by almost 60 cents – so says the bowser-watchers at the Australian Institute of Petroleum (AIP).

CBA puts the average price of unleaded fuel across Sydney at 216.5 cents. And Nymex crude gained about 3% overnight too, btfw.

Iron ore, meanwhile shed 1.35%, but when it looks so damn comfy above $US150 a tonne, what’s a few basis points between friends?

*Yarii: Yaris, plural (obv).

TODAY’S BIGGEST SMALL CAP WINNERS

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

Scroll or swipe to reveal table. Click headings to sort.

Code	Company	Price	%	Volume
TSC	Twenty Seven Co. Ltd	0.004	33%	1,623,943
GTG	Genetic Technologies	0.005	25%	770,277
MOH	Moho Resources	0.055	22%	593,818
KLR	Kaili Resources Ltd	0.028	22%	37,238
CAD	Caeneus Minerals	0.009	20%	131,532,377
AJL	AJ Lucas Group	0.06	20%	6,692,124
OAR	OAR Resources Ltd	0.006	20%	350,000
PCL	Pancontinental Energ	0.006	20%	7,380,363
SBR	Sabre Resources	0.006	20%	848,751
QXR	Qx Resources Limited	0.056	19%	36,607,087
HAR	Harangaresources	0.25	19%	405,904
RMI	Resource Mining Corp	0.019	19%	110,718
SHH	Shree Minerals Ltd	0.021	17%	13,067,459
OEC	Orbital Corp Limited	0.315	17%	367,569
RIM	Rimfire Pacific	0.007	17%	2,025,140
RCP	Redbank Copper Ltd	0.05	16%	667,982
FTC	Fintech Chain Ltd	0.044	16%	44,222
AS2	Askarimetalslimited	0.45	15%	1,304,074
99L	99 Loyalty Ltd.	0.032	14%	2,056,717
SHP	South Harz Potash	0.24	14%	6,986,738
CL8	Carly Holdings Ltd	0.048	14%	125,813
REC	Rechargemetals	0.125	14%	18,076
SIS	Simble Solutions	0.025	14%	1,077,000
IHL	Incannex Healthcare	0.515	13%	11,163,193
HHR	Hartshead Resources	0.027	13%	9,506,472

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Iron ore and lithium-curious miner Mineral Resources (ASX:MIN) has put its hand up for a 5% stake in Global Lithium Resources (ASX:GL1) after joining a ~$30 million capital raise. Min Res is a little better than flat, but GL1 was up 8% by lunch and according to our man in lithium, Josh Chiat, will add the growth to the 500% its already gained since listing this time last year.

And as the world implodes and the federal government invests for war, we’re keeping our eyes in the sky for defence firms on the move – and as mentioned last week – Orbital Corp (ASX:ORB) is among them. The Perth-based manufacturer of advanced spark ignition propulsion systems for unmanned aerial vehicles (UAV’s or drones), is on the move – climbing again today into double digits.

TODAY’S BIGGEST SMALL CAP LOSERS

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

Scroll or swipe to reveal table. Click headings to sort.

Code	Company	Price	%	Volume
EVE	EVE Health Group Ltd	0.002	-20%	5,556
GGX	Gas2Grid Limited	0.002	-20%	1,991
EME	Energy Metals Ltd	0.215	-19%	318,577
INP	Incentiapay Ltd	0.015	-17%	19,264
LSR	Lodestar Minerals	0.01	-17%	30,255,387
VMY	Vimy Resources Ltd	0.205	-16%	8,488,543
NSX	NSX Limited	0.063	-16%	28,500
LVT	Livetiles Limited	0.105	-16%	4,283,610
BDX	Bcaldiagnostics	0.085	-15%	485,767
AO1	Assetowl Limited	0.003	-14%	677,248
MCT	Metalicity Limited	0.006	-14%	1,200,517
MTB	Mount Burgess Mining	0.006	-14%	471,579
WGX	Westgold Resources.	2.13	-13%	5,086,451
AOA	Ausmon Resorces	0.007	-13%	2,303,420
PNR	Pantoro Limited	0.2975	-13%	4,089,242
GCR	Golden Cross	0.185	-12%	295,896
EL8	Elevate Uranium Ltd	0.575	-12%	2,972,291
AE1	Aerison	0.16	-11%	390,808
AHN	Athena Resources	0.008	-11%	1,024,733
OAU	Ora Gold Limited	0.016	-11%	1,023,360
RDN	Raiden Resources Ltd	0.016	-11%	1,727,390
RNX	Renegade Exploration	0.008	-11%	500,000
EQE	Equus Mining Ltd	0.165	-11%	334,889
LOT	Lotus Resources Ltd	0.33	-11%	3,719,947
BME	Blackmountainenergy	0.125	-11%	183,886

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Likewise we’re watching some tumult in the uranium space. The recent ASX uranium market yardrod, Paladin Energy (ASX:PDN) is down some 8% on Monday, likewise Elevate Uranium (ASX:EL8) has taken a big backward step to start the week, shedding about 13%, after rising strongly earlier this month after the yellowcake stock – formerly known as Marenica Energy – was, wait for it – ‘elevated’ – to trading on OTCQX – the top tier of OTC Markets in the US.

And after jumping about 18% on Thursday, Live Tiles (ASX:TLV), the digital workplace software that brings the TLV into volatility slid 13% in Monday trade, Citi analysts revving the market with some upbeat talk on the firm’s ARR growth – expected to pick-up as churn events come to an end.

Only, what’d LVT be without some righteous churn?

ANNOUNCEMENTS YOU MAY HAVE MISSED

Adriatic Metals PLC (ASX:ADT) has appointed former Highfield Resources (ASX:HFR) chief financial officer Mike Norris as its CFO.

Norris will be based out of the Company’s UK office and work with the company at its Vares Silver Project in Bosnia advances towards production in Q2 2023.

Reproductive biotechnology company Memphasys Limited (ASX:MEM) has achieved initial ISO 13485 compliance for medical quality management systems (QMS).

The QMS system enables Memphasys to manage product development, production, product distribution and sales, post market product surveillance and support.

The company says its bio-separation technology deployed in its Felix device can extract viable sperm from poor quality samples, giving couples who might not be able to otherwise conceive because of male infertility the chance to be parents.

And HR-tech IntelliHR (ASX:IHR) has bolstered the board with several senior executive changes with current non-executive director Matt Donovan appointed executive chairman.

Company founder and current managing director Rob Bromage will transition to executive director with a focus on product and strategic partnerships, while current chairman Tony Belly will become an executive director.

IntelliHR Tony Bellas said the company was in a rapid growth phase with a focus on North American and UK markets and the changes will enable Bromage to focus on strategic partnership opportunities with Donovan’s appointment strengthening its capability in growing the business.

Global energy storage tech and services provider Fluence (ASX:FLC) has appointed water industry veteran Tom Pokorsky as CEO and managing director, taking up the role today and coinciding with his appointment: Richard Irving will return as board chairman.