• An already buoyant ASX boosted past +1.1% on happy CPI data for May.
  • Consumer Discretionary just pipped by Real Estate, both up more than 2.1%.
  • Stellar Resources takes line honours after hitting fresh zinc finds in Tassie.


A pleasing batch of CPI data has lifted the market’s mood today, after the Australian Bureau of Calculator Fanciers revealed that inflation has eased dramatically, falling to 5.6% for the year to May, down from 6.8% in April.

This made a lot of people very happy – most notably, everyone whose turnips have been thoroughly squeezed by the string of interest rate hikes by the RBA that dragged on longer than a Chinese military parade.

The ASX 200 was already cruising along nicely at around +0.5%, but the CPI date gave it a huge (albeit brief) nudge to above +1.3%, which eased quickly to end the day on a still-pleasant +1.1%.

No doubt RBA Chief Philip “Dressed like I shop at” Lowe’s is preparing to take the credit for the sharp CPI drop, given how much muscle he and his RBA Board cronies have been putting into yanking the interest-rate lever in an attempt to get it down.

The real test, of course, is whether it bounces again next month – but with retirement from the top job looming large for Mr Lowe, he’d be praying for things to just settle down nicely so that his farewell from the RBA office doesn’t involve a window. Or a catapult.



Sector-wise, things didn’t change a whole lot after lunch – Consumer Discretionary was top of the pops all day, up more than 2.1%, before it was pipped at the post by Real Estate (+2.1%) with Financials (+1.4%), Energy (+1.2%) , Industrials (+1.1%) and InfoTech (+1.0%) also on solid, profitable ground.

Utilities was really the day’s only sticking point, losing 0.2% despite the happy CPI news.

In off-market news, though, there are terrifying signs of a chocolatey bubble, after news broke last week that Australia’s beloved Fantales lollies are set to be discontinued by manufacturer Allens.

Because we’re all morons, a secondary market has opened up as available supplies dwindle, with the filling-pulling, tooth-destroying caramels on sale via Facebook Meerkatplace and eBay for as much as $80 a bag, or $2,000 for a box of 10.

I plan to make absolute bank buying $800 worth of bags, and selling them in a box for a $1,200 mark-up – and like all caramel cartel chiefs who have come before me, I will ruthlessly murder anyone who dares get in my way.

You have been warned.



Here are the best performing ASX small cap stocks:

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

Code Company Price % Volume Market Cap
OAU Ora Gold Limited 0.0045 80% 158,675,990 $9,842,313
CLE Cyclone Metals 0.0015 50% 1,921,957 $10,264,505
DXN DXN Limited 0.0015 50% 680,241 $1,721,315
WEL Winchester Energy 0.003 50% 210,051 $2,040,844
GMN Gold Mountain Ltd 0.007 40% 18,242,411 $9,849,663
TTT Titomic Limited 0.031 35% 1,825,051 $5,503,580
ENT Enterprise Metals 0.004 33% 475,154 $2,188,413
GGX Gas2Grid Limited 0.002 33% 5,904,921 $6,115,653
BME Blackmountainenergy 0.02 33% 10,033 $2,748,363
SRZ Stellar Resources 0.013 30% 7,206,713 $10,059,642
RDN Raiden Resources Ltd 0.009 29% 56,409,512 $14,386,883
AN1 Anagenics Limited 0.014 27% 313,745 $4,021,820
OZM Ozaurum Resources 0.039 26% 741,878 $3,937,000
IBX Imagion Biosys Ltd 0.015 25% 14,549,408 $14,011,989
MHC Manhattan Corp Ltd 0.0075 25% 4,755,357 $17,617,672
CVR Cavalierresources 0.15 25% 329,272 $3,819,470
DCX Discovex Res Ltd 0.0025 25% 31,043 $6,605,136
PUA Peak Minerals Ltd 0.0025 25% 2,667,050 $2,082,753
YPB YPB Group Ltd 0.0025 25% 102,400 $1,238,498
EMC Everest Metals Corp 0.205 24% 1,995,526 $21,356,463
SKY SKY Metals Ltd 0.041 24% 1,561,281 $15,000,374
GLH Global Health Ltd 0.135 23% 42,187 $6,380,372
ENR Encounter Resources 0.325 23% 14,309,641 $104,814,332
FLN Freelancer Ltd 0.23 21% 242,384 $85,673,828
KGL KGL Resources Ltd 0.145 21% 296,182 $68,075,024
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There’s been a shuffle on the Small Caps leaderboard this afternoon, with Stellar Resources (ASX:SRZ) up 30% after the Tassie-based explorer reported hitting a significant 38.6m-long Zn-Pb-Cu mineralised zone at ‘North Scamander’ in Tasmania, from 130m depth.

The exploration hole had reached a depth of 360m on 23 June with a planned EOH depth of 750m, according to Reubs this morning.

“The significant Zn-Pb-Cu vein and breccia mineralised zones intersected in NSD005 are interpreted as being separate from Zn-Pb-Cu-Ag-Sn mineralised breccia-hosted intersections in historic drilling, highlighting the presence of a significant new Zn-Pb-Cu mineralised zone,” the company says.

In second place is Imagion Biosystems (ASX:IBX), which got as high as +33% on news that it has expanded its collaboration agreement with Siemens Healthineers but has since dropped back to around +16% as the session winds down.

In addition to extending the existing agreement, the companies have agreed to collaborate in the United States through the far less aggravatingly-named Siemens Medical Solutions USA, in anticipation of Imagion’s undertaking a multi-site Phase-2 study for its MagSense  HER2 breast cancer imaging agent.

Siemens dates back to its early roots in 1847 to a small family business in Berlin, co-founded by Werner von Siemens, who is no doubt spinning in his grave faster than a magnet in an MRI.

Whichever marketing genius came up with “Healthineers” should be put in stocks in the town square, so all of Werner von Siemens can pelt them with rotting vegetables.

And in third (worth mentioning – there’s a lot of companies banking zero-news, 20%+ gains today) is Cavalier Resources (ASX:CVR), up 25% after an extensive soil geochemical program at the Ella’s Rock Li-Au-Ni project hit paydirt.

The company says it’s found three Lithium-Caesium-Tantalum (‘LCT’) bearing geochemical target areas, covering a combined 350ha, which the company has delightfully named after prominent Ellas we all know and love: Hooper, Fitzgerald and (my favourite) Baché.

But the Stockhead crew would like to know why Aussie Rugby Union legends Mark, Gary and Glen Ella didn’t get a look in on this one. Or their cousin, Parramatta Eels great Steve Ella, for that matter.



Here are the least best performing ASX small cap stocks:

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

Code Company Price % Today Volume Market Cap
OPNR Oppenneg 0.002 -80% 1,147,648 $7,976,284
IXC Invex Ther 0.215 -53% 4,576,133 $34,195,001
LYK Lykosmetalslimited 0.065 -35% 110,258 $6,240,000
KEY KEY Petroleum 0.001 -33% 250,000 $2,951,892
TD1 Tali Digital Limited 0.001 -33% 16,000 $4,942,733
FRS Forrestaniaresources 0.105 -30% 9,989,770 $12,752,031
CCO The Calmer Co Int 0.003 -25% 460,365 $1,779,110
CYQ Cycliq Group Ltd 0.006 -25% 3,000,000 $2,780,133
PVS Pivotal Systems 0.006 -25% 2,655,938 $4,276,950
QXR Qx Resources Limited 0.0195 -22% 6,937,358 $22,421,558
GNM Great Northern 0.024 -20% 1,560,416 $4,638,121
SIO Simonds Grp Ltd 0.12 -20% 13,164 $53,985,968
DDT DataDot Technology 0.002 -20% 166,666 $3,027,382
TEM Tempest Minerals 0.0155 -18% 2,617,170 $9,629,611
AUA Audeara 0.035 -17% 284,104 $6,018,600
LML Lincoln Minerals 0.015 -17% 7,045,722 $10,349,706
CPT Cipherpoint Limited 0.005 -17% 541,685 $6,955,450
HLX Helix Resources 0.005 -17% 5,110,079 $13,938,875
MBX Myfoodieboxlimited 0.005 -17% 1,602,650 $222,768
SI6 SI6 Metals Limited 0.005 -17% 201,127 $8,972,368
MGA Metalsgrovemining 0.105 -16% 115,000 $4,650,063
ICE Icetana Limited 0.038 -16% 10,000 $8,969,779
LDX Lumos Diagnostics 0.011 -15% 799,138 $4,022,461
AIV Activex Limited 0.017 -15% 140,193 $4,310,052
GPR Geopacific Resources 0.018 -14% 65,000 $17,245,013
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Hot Chili (ASX:HCH) has come out of its trading halt with news that the company has executed a binding US$15 million Investment Agreement with Osisko Gold Royalties, in return for a 1.0% Net Smelter Return (NSR) royalty on copper and a 3% NSR royalty on gold across the Company’s Costa Fuego copper-gold project, 600km north of Santiago, Chile.

The cash injection will raise Hot Chili’s cash holdings to around $26 million, and has a built-in clause covering any change of control events in the next 4 years, which would lower the Osisko NSR to 0.5% NSR royalty on copper and 2.5% NSR royalty on gold if invoked.

News of the investment came at the same time as Hot Chili announcing a Preliminary Economic Assessment (PEA) for the project, which the company says “outlines one of the world’s lowest capital intensity, major copper developments”.

The PEA was delivered on an 8% discount rate and long-term metal price assumptions of US$3.85/lb copper and US$1,750/oz gold.

Meanwhile, Blue Star Helium (ASX:BNL) has asked for its trading halt called on Monday 26 June to be extended out to 05 July, with an update to its gas processing agreement apparently on its way.

It’s unclear from the release whether that’s for its maiden Voyager helium development or the parallel Galactica/Pegasus project, but the smart money (ie, our journo Bevis) says its most likely to be for Voyager, where the company is aiming to hit production in August.

If he’s wrong, he owes me a hamburger.

Xtek (ASX:XTE) has informed the market that its Technology Division has achieved the third key project milestone in performance of the $26.9m Defence SUAS order announced to the ASX on 01 December last year, with the shipment and revenue recognition of $3.6m of equipment and project related contract deliverables.

The company is “very pleased to be able to continue to support Defence with the provision of world-leading SUAS technology,” says boss man Scott Basham.

“All of the deliverables expected to be achieved before the end of FY23 for this SUAS contract, have now been completed, and $25m (93%) of the $26.9m contract value has been recognised to date.”

The reminder of the project deliverables for this contract will be completed in H1 FY24, he added.

And last one for today, Damstra Holdings (ASX:DTC) has announced a three year contract extension agreement (with three further one year options) with Coronado Global Resources (ASX:CRN).

Damstra provides an Enterprise Protection Platform (EPP), a “cloud-based SaaS platform [that] offers actionable insights that enables and automates business processes and data flows related to your security, training, and safety requirements”, according to the company’s website.

The new deal will see Coronado upgrade from Damstra’s legacy system to the new EPP, covering about 2,500 users, for a total of around $1.2m over the three year period from 01 July, 2023.



Jervois Global (ASX:JRV) – Capital raising.