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Lunchtime ASX small cap wrap: Who’s cashing out early today?
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Today marks a historic moment in the history of Australia’s $3 trillion superannuation system.
As part of Morrison government’s emergency response to the coronavirus pandemic, eligible citizens have been given the all-clear to tap their retirement nest egg early.
Tax-free cash top-ups of up to $10,000 are now on the cards for local residents who meet the criteria.
The offer is limited primarily to those who are unemployed or eligible for the JobSeeker allowance. Eligible participants can also apply for a further $10,000 in the 2020/21 financial year.
The measure has been met with some concern from industry groups about whether it could spark a liquidity crunch, particularly for funds with a higher percentage of members who work in sectors that have been hit hardest by the lockdowns.
For now though, applications for the FY20 payment are open until 30 June, with thousands of Australian expected to apply.
On markets, it’s been a cautious start to the week after a strong rally in April on the back of major government stimulus (similar to the one above) worldwide.
Heading into midday trade, the ASX200 was down 1.54 per cent at 5,401.30, while the Small Ords Index was two per cent lower at 2,302.50.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Monday April 20:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| RLG | Roolife Group Ltd | 0.041 | 192.86% | $13.6M |
| CFE | Cape Lambert Resources | 0.002 | 100.00% | $2.5M |
| XPE | XPED | 0.002 | 100.00% | $1.8M |
| TMR | Tempus Resources | 0.2 | 60.00% | $8.1M |
| SE1 | Sensera | 0.015 | 50.00% | $4.5M |
| RFN | Reffind Ltd | 0.002 | 50.00% | $1.0M |
| MYQ | MyFiziq Ltd | 0.17 | 47.83% | $18.1M |
| REE | Rarex Ltd | 0.025 | 47.06% | $7.8M |
| DAF | Discovery Africa Ltd | 0.014 | 40.00% | $2.6M |
| MTH | Mithril Resources | 0.007 | 40.00% | $3.4M |
| ZEN | Zenith Minerals Ltd | 0.059 | 34.09% | $151.6M |
| CRO | Cirralto | 0.004 | 33.33% | $3.3M |
| CE1 | Calima Energy | 0.004 | 33.33% | $8.6M |
| RDM | Red Metal Ltd | 0.07 | 32.08% | $14.9M |
| OSX | Osteopore | 0.6 | 27.66% | $62.3M |
| SFG | Seafarms | 0.063 | 26.00% | $145.2M |
| 1AD | Adalta | 0.064 | 25.49% | $10.5M |
| KYK | Kyckr | 0.094 | 25.33% | $22.1M |
| 88E | 88 Energy | 0.007 | 25.00% | $49.8M |
| GBR | Great Boulder Resources Ltd | 0.036 | 24.14% | $4.8M |
Microcap e-commerce play RooLife Group (ASX:RLG) was the big winner in morning trade — more evidence that positive news out of China remains a strong investment narrative.
The company announced that it’s become a marketing partner for AliPay, the payments platform which is a subsidiary of Chinese e-commerce behemoth Alibaba.
Shares in RLG promptly bounced more than 100 per cent to a new 2020 high of 3.5 cents.
A number of junior miners were also on the winner’s list, by virtue of their operations’ proximity to the high-grade nickel-copper-palladium discovery uncovered by Chalice Gold Mines’ (ASX:CHN) in March. Stockhead’s Reuben Adams has more here.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Monday April 20:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| AL3 | Aml3d | 0.13 | -35.00% | $10.2M |
| UUV | UUV Aquabotix | 0.001 | -33.33% | $682K |
| ICG | Inca Minerals Ltd | 0.001 | -33.33% | $4.1M |
| SP3 | Spectur | 0.056 | -30.00% | $4.3M |
| WRM | White Rock Minerals Ltd | 0.003 | -25.00% | $5.6M |
| XCD | Xcd Energy | 0.004 | -20.00% | $2.8M |
| FAM | Family Insights Group | 0.02 | -20.00% | $1.3M |
| ADD | Adavale Resources Ltd | 0.017 | -19.05% | $2.9M |
| MGU | Magnum Mining and Exploration Ltd | 0.04 | -18.37% | $14.9M |
| TTM | Titan Minerals Ltd | 0.055 | -17.91% | $41.9M |
| HT8 | Harris Technology | 0.047 | -17.54% | $8.8M |
| CM8 | Crowd Mobile | 0.024 | -17.24% | $7.0M |
| ADY | Admiralty Resources | 0.005 | -16.67% | $5.8M |
| DW8 | Digital Wine Ventures | 0.005 | -16.67% | $5.8M |
| MBK | Metal Bank Ltd | 0.005 | -16.67% | $4.4M |
| HWK | Hawkstone Mining | 0.005 | -16.67% | $5.1M |
| ADX | Adx Energy Ltd | 0.005 | -16.67% | $8.5M |
ASX debutante AML3D (ASX:AL3) briefly slipped from its 15c listing price when it joined the boards at 11am. The 3D metal printing company completed a $9m IPO, underpinned by a 5.3 per cent investment from Perennial Value Management.
And ecommerce platform Harris Technology (ASX:HT8) eased back in morning trade, but the falls only slightly offset Friday’s gain of 200 per cent after the company announced some positive distribution news for a new range of protective hygiene products.
