Global markets were a sea of red on Monday after the number of coronavirus cases surged in Italy and South Korea.

The World Health Organisation said COVID-19, which is already impacting global economic activity, could be around for months and advised countries to take a “rigorous approach”.

The Dow Jones index — which measures the performance of 30 large listed US companies — closed 3.6 per cent lower, marking its worst day in two years.

Nearly $474bn was wiped off the value of European stock markets, Morningstar reports.

“Fears of the economic impact from the outbreak bolstered expectations – already at 50 per cent – that the European Central Bank will cut interest rates by 10 basis points in July,” it says.

As investors move out of equities and into safehaven investments, the one bright spot is gold, which surged by 1.7 per cent to $US1,673.50 ($2,530) an ounce.

READ: Gold Digger — A weekly recap of the news driving ASX small cap gold stocks

The ASX200 (-1.6 per cent) and ASX Small Ords (-1.6 per cent) both fell substantially at the open but are now showing signs of a recovery.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Tuesday February 25:

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CODE NAME PRICE % CHANGE MARKET CAP
LCY Legacy Iron Ore 0.002 +100.00% $12.5M
AO1 AssetOwl 0.008 +60.00% $2.4M
CCE Carnegie Clean Energy 0.0015 +50.00% $16.7M
DLC Delecta 0.006 +50.00% $4.2M
GTE Great Western Exploration 0.004 +33.33% $5.8M
FTT Factor Therapeutics 0.003 +20.00% $3.1M
MTB Mount Burgess Mining 0.003 +20.00% $1.6M
RNE ReNu Energy 0.03 +15.38% $3.6M
ADX ADX Energy 0.008 +14.29% $13.4M
SVY Stavely Minerals 0.76 +13.43% $165.7M
ADV Ardiden 0.0045 +12.50% $8.0M
BSR Bassari Resources 0.02 +11.76% $45.4M
LEX Lefroy Exploration 0.19 +11.76% $19.1M
EMP Emperor Energy 0.03 +11.54% $2.4M
GBR Great Boulder Resources 0.04 +11.11% $5.3M
MAY Melbana Energy 0.01 +11.11% $23.2M
NWE Norwest Energy 0.005 +11.11% $23.2M
KTA Krakatoa Resources 0.03 +10.71% $7.2M
ANA Ansila Energy 0.011 +10.00% $5.6M
CLA Celsius Resources 0.011 +10.00% $8.3M
MTH Mithril Resources 0.011 +10.00% $5.4M

 

AssetOwl (ASX:AO1) +60%

One of the big winners this morning was $1.5m market cap tech minnow AssetOwl, which has entered an agreement to licence its Inspector360 platform to a property inspection company.

AssetOwl will receive a fee “per report generated using Inspector360”, but specific commercial amounts weren’t disclosed.

 

Stavely Minerals (ASX:SVY) +13.5%

The Stavely share price has more than tripled since September last year, driven by that world-class copper-gold discovery at Thursday’s Gossan.

Today it revealed another big hit of up to 26.8 per cent copper, 8.48g/t gold and 201g/t silver from the latest round of drilling results.

Stavely exec chairman Chris Cairns says there is plenty of drilling ahead to define the extents of this very significant copper-gold-silver system, “with our immediate focus now on an intensive resource drill-out with four rigs operating within the main mineralised zone”.

READ: Barry FitzGerald — How Stavely became one of the most successful exploration floats in recent years

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Tuesday February 25:

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

CODE NAME PRICE % CHANGE MARKET CAP
ARN Aldoro Resources 0.17 -37.74% $8.7M
ANW Aus Tin Mining 0.001 -33.33% $2.7M
HCT Holista CollTech 0.13 -30.77% $34.9M
CFO CFOAM 0.05 -29.49% $9.8M
AIV ActivEX 0.13 -27.78% $23.0M
SBR Sabre Resources 0.0015 -25.00% $1.3M
WGN Wagners Holding Co 1.38 -22.47% $278.0M
CNW Cirrus Networks 0.03 -21.87% $22.1M
BLZ Blaze International 0.011 -21.43% $2.3M
RES Resource Generation 0.06 -21.25% $36.6M
ALT Analytica 0.002 -20.00% $7.0M
MSE Metalsearch 0.008 -20.00% $8.7M
PGX Primero Group 0.3 -17.81% $51.7M
G88 Golden Mile Resources 0.04 -17.65% $3.0M
BRV Big River Gold 0.03 -17.50% $43.5M
RMY RMA Global 0.46 -17.12% $192.3M
MPH Mediland Pharm 0.15 -16.67% $46.9M
ADR Adherium 0.03 -16.67% $12.4M
WEL Winchester Energy 0.03 -16.67% $20.6M
STM Sunstone Metals 0.01 -16.67% $13.8M
NVO NVOI 0.01 -16.67% $15.0M

 

Holista CollTech (ASX:HCT) -30%

Holista CollTech has been forced to withdraw some claims it made last week about its coronavirus fightin’ nasal sanitising balm.

The balm will use an ingredient called Path-Away, it proclaimed, which has killed all previously tested coronavirus types as well as the AIDS virus. Amazing stuff.

The company has now retracted these statements “as a result of not technically complying with the level of disclosure required in accordance with the ASX Biotech Code, Code of best practice”.