It’s been a tumultuous ~18 months in the making, but the US and China finally signed an interim trade deal on Wednesday.

The deal will see the US roll back some tariffs while China will boost purchases of US goods and services by $200 billion over two years – but it leaves the bulk of the most damaging tariffs and trade practices in place.

Still, this trade conflict has weighed on global economic growth and hampered investments. A win is a win.

And world markets inched to a record high on Thursday in response. The ASX200 is up 0.49 per cent to a record 7,029 points in morning trade, while the ASX Small Ords Index increased 0.34 per cent to 3,062 points.

Small Ords Index performance since ~1995.



$6m market cap gold explorer Alloy Resources (ASX:AYR) led the charge, up 100 per cent on exploration results from its Horse Well project JV with miner Silver Lake Resources (ASX:SLR).

Yesterday, fellow gold explorer Middle Island (ASX:MDI) launched a major 17,000m drilling campaign at the Sandstone gold project in WA.

“With the Australian dollar gold price near record levels, any additional mineral resources identified during the drilling campaign should significantly enhance the outcome of the updated PFS [pre-feasibility study], which is planned to recommence in the June quarter of 2020, hopefully leading to a positive recommissioning decision once completed,” managing director Rick Yeates says.

The stock was up 25 per cent in morning trade.

And music database company Jaxsta (ASX:JXT) was among the early leaders after announcing it had signed its first commercial subscription deal.

Here are the best performing ASX small cap stocks at 12pm Thursday January 16:

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Ticker Name Price % Chg Market Cap
AYR Alloy Resources 0.003 +100.00% $6.3M
CAD Caeneus Minerals 0.0015 +50.00% $4.0M
GLA Gladiator Resources 0.0015 +50.00% $2.4M
PNN PepinNini Lithium 0.003 +50.00% $4.3M
LML Lincoln Minerals 0.008 +33.33% $4.6M
NAE New Age Exploration 0.004 +33.33% $3.6M
XST XState Resources 0.004 +33.33% $5.7M
DLC Delecta 0.005 +25.00% $3.5M
MDI Middle Island Resources 0.005 +25.00% $6.5M
RXH Rewardle Holdings 0.005 +25.00% $2.6M
GBZ GBM Resources 0.06 +24.00% $11.1M
JXT Jaxsta 0.19 +23.33% $42.9M
RGI Roto-Gro International 0.13 +22.73% $20.1M
ABT Abundant Produce 0.05 +22.22% $4.7M
BUY Bounty Oil & Gas 0.006 +20.00% $5.7M
NWE Norwest Energy 0.006 +20.00% $27.8M
TZL TZ 0.18 +20.00% $14.2M
BXN Bioxyne 0.02 +18.75% $12.2M
ALT Analytica 0.0035 +16.67% $12.3M
BAT Battery Minerals 0.007 +16.67% $9.2M
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Exploration company Elixir Energy (ASX:EXR) slumped sharply after an operations update at its Nomgon coal seam gas project in southern Mongolia.

Elixir says permeability and preliminary gas content results from Ugtaal-1 were at the “lower end of expectations”.

Here are the worst performing ASX small cap stocks at 12pm Thursday January 16:

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Code Name Price % Chg Market Cap
EXR Elixir Energy 0.017 -43.33% $8.5M
CCE Carnegie Clean Energy 0.001 -33.33% $11.1M
PSM Peninsula Mines 0.0015 -25.00% $3.5M
ICG Inca Minerals 0.003 -25.00% $6.1M
FGO Flamingo AI 0.002 -20.00% $2.2M
AOA Ausmon Resources 0.002 -20.00% $1.3M
AUR Auris Minerals 0.02 -17.39% $7.8M
RNX Renegade Exploration 0.0025 -16.67% $1.8M
VRC Volt Resources 0.011 -15.38% $19.1M
ASN Anson Resources 0.03 -15.00% $20.4M
PKD Parkd 0.06 -14.47% $4.9M
NZS New Zealand Coastal Seafoods 0.012 -14.29% $6.4M
BRK Brookside Energy 0.007 -12.50% $7.0M
PVE Po Valley Energy 0.05 -11.11% $31.1M
BPP Babylon Pump & Power 0.02 -11.11% $13.4M
KP2 Kore Potash 0.02 -11.11% $13.7M
MAN Mandrake Resources 0.02 -10.53% $4.5M
NOX Noxopharm 0.26 -10.34% $34.4M
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