Here’s a question to start the week: What does the coastal NSW town of Mullumbimby have in common with Russian folk music?
Quite a lot, as it turns out. The cosy hamlet (population: ~3,600) is home to a 28-man strong “Russian” choir, equipped with the uniforms and fake Russian accents.
An ABC report details the story of the group, which came together via a shared love of marching army songs from the “Motherland” (and vodka).
From that humble start, the group has since performed at festivals across Australia. In the crowd at one event was the Russian ambassador, and nek minnit a clip of the group was picked up by Russian TV.
Nek minnit, they got an invite from the Russian Ministry of Culture to perform at the country’s Victory Day Parade on May 9 (unfortunately, COVID-19 forced a cancellation).
Not bad for a group of farmers, teachers and builders from the north coast.
And there’s no sign of Monday blues on the local sharemarket this morning, as the ASX200 rose by around 1.7 per cent into midday trade.
The Small Ords performance continued its strong run (daily gains on 12 out of 17 trading days in May), rising by 1.35 per cent to 2,572.50 points.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Monday May 25:
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CODE COMPANY PRICE CHANGE MARKET CAP CCE Carnegie Clean 0.002 100.00% $22.3M GTE GTE 0.002 100.00% $1.3M OLI Olivers Real Food 0.067 63.41% $18.7M YOW Yowie Group Ltd 0.057 54.05% $12.2M NVU Nanoveu 0.13 52.94% $17.2M XTC Xantippe Resources 0.003 50.00% $10.0M DHR Dark Horse Resources 0.003 50.00% $7.5M ELT Elementos Ltd 0.003 50.00% $7.6M HLX Helix Resources 0.011 37.50% $5.4M BPL Broken Hill Prospecting Ltd 0.024 33.33% $6.9M AXE Archer Exploration Ltd 0.71 32.71% $149.3M MNW Mint Payments 0.009 28.57% $8.2M ARM Aurora Minerals Ltd 0.023 27.78% $5.6M ICQ iCar Asia 0.33 26.92% $132.4M SBR Sabre Resources Ltd 0.003 25.00% $1.7M EX1 Exopharm 0.275 25.00% $25.8M RFN Reffind Ltd 0.003 25.00% $2.1M CDT Castle Minerals Ltd 0.011 22.22% $3.0M TKL Traka Resources Ltd 0.011 22.22% $4.4M CFO Cfoam 0.039 21.88% $7.7M WEL Winchester Energy Ltd 0.034 21.43% $23.4M
Health fast-food chain Oliver’s Foods (ASX:OLI) was among the winners after signing a licensing agreement with petrol & convenience store operator EG Group.
Under the terms of the deal, EG will pay Oliver’s a $500,000 fee in return for an “exclusive licence to use its OFTG Trademark, in connection with the sale of OFTG products in EG’s Australian petrol and convenience outlets”, the company said.
In March this year Oliver’s, which had an eventful 2019, received a non-binding offer from EG to buy the company at a price of 10c per share. However, the deal was conditional on Oliver’s net debt staying below $800,000 (it rose to $910,000 at March 31).
Shares rose by more than 40 per cent this morning to 5.8c.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Monday May 25:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| FGO | Flamingo | 0.001 | -50.00% | $1.1M |
| ACB | A-Cap Energy | 0.01 | -23.08% | $8.7M |
| SKY | Sky Metals | 0.315 | -23.17% | $95.9M |
| OKR | Okapi Resources | 0.125 | -21.88% | $5.8M |
| SRZ | Stellar Resources Ltd | 0.008 | -20.00% | $4.4M |
| FEL | Fe Ltd | 0.012 | -14.29% | $6.8M |
| MTB | Mount Burgess Mining NL | 0.003 | -14.29% | $1.6M |
| CBE | Cobre | 0.15 | -13.89% | $18.5M |
| SHO | SportsHero | 0.025 | -13.79% | $8.2M |
| KTE | K2 Energy Ltd | 0.013 | -13.33% | $3.9M |
| SOP | SML Corporation | 0.02 | -13.04% | $4.4M |
| IP1 | Integrated Payment Tech | 0.007 | -12.50% | $2.2M |
| CHK | Cohiba Minerals Ltd | 0.007 | -12.50% | $6.1M |
| LCD | Latitude Consolidated Ltd | 0.015 | -11.76% | $4.1M |
| CGN | Crater Gold Mining Ltd | 0.008 | -11.11% | $9.8M |
| HCH | Hot Chili | 0.016 | -11.11% | $27.8M |
| WNB | Wellness Beauty Solutions | 0.008 | -11.11% | $10.1M |
| UBN | Urbanise | 0.051 | -10.53% | $37.6M |