Elon Musk, boss of electric car maker Tesla. Pic: Getty
Lunchtime ASX small cap wrap: Who’s feeling incentivised today?
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Battery metals may be down in the dumps, but electric vehicle spearhead Tesla is flying.
Tesla is now a $US100 billion company – worth more than established carmakers VW ($US90bn), Ford ($US36.5bn), Daimler ($US55bn), Nissan ($US24.3bn) and GM ($US50bn). Remarkable.
And there’s a $US50 billion bonus coming for the already super rich Elon Musk if he successfully builds Tesla into a $US650 billion company by 2028.
Yesterday, US markets were mixed. European share markets fell after Trump threatened the EU with a tariff bodyslam if it didn’t agree to a trade deal.
And global oil prices eased by 2-3 per cent after the head of the International Energy Agency predicted the global oil market would be in surplus by 1 million barrels per day in the first half of the year.
The ASX200 is down 0.69 per cent to a record 7,084 points in morning trade, while the ASX Small Ords Index fell 0.38 per cent to 3,062 points.
Here are all your key small cap winners and losers in morning trade for Thursday, January 23:
WINNERS
Here are the best performing ASX small cap stocks at 12pm Thursday January 23:
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Chg | Market Cap |
|---|---|---|---|---|
| RFN | Reffind | 0.004 | +33.33% | $2.7M |
| ICG | Inca Minerals | 0.002 | +33.33% | $8.1M |
| CGB | Cann Global | 0.02 | +18.75% | $61.3M |
| PM8 | Pensana Metals | 0.19 | +18.18% | $30.6M |
| MGL | Magontec | 0.02 | +17.65% | $22.8M |
| UUV | UUV Aquabotix | 0.0035 | +16.67% | $1.8M |
| KEY | Key Petroleum | 0.007 | +16.67% | $12.0M |
| GMV | G Medical Innovations | 0.19 | +15.15% | $75.6M |
| KNO | Knosys | 0.11 | +14.58% | $16.4M |
| CZN | Corazon Mining | 0.004 | +14.29% | $8.4M |
| RHY | Rhythm Biosciences | 0.12 | +14.29% | $12.1M |
| SCU | Stemcell United | 0.02 | +14.29% | $15.4M |
| ZNO | Zoono Group | 0.64 | +14.16% | $106.2M |
| TRT | Todd River Resources | 0.03 | +13.64% | $6.2M |
| AZY | Antipa Minerals | 0.02 | +13.33% | $35.3M |
| CRL | Comet Resources | 0.03 | +13.04% | $7.7M |
| CNJ | Conico | 0.009 | +12.50% | $3.5M |
| OVL | Oro Verde | 0.009 | +12.50% | $18.0M |
| BPL | Broken Hill Prospecting | 0.019 | +11.76% | $3.9M |
Cann Global (ASX:CGB) +18.75%
The former bauxite explorer – not to be confused with +$200m market cap Cann Group (ASX:CAN) – says that its Certified Organic Hemp Protein powder will be coming to Costco stores in Australia.
READ: Queensland Bauxite is back on the ASX as pot stock Cann Global
G Medical Innovations (ASX:GMV) +15%
The obile and e-Health company says an application to join the OTCQB market in the US has been successful.
The OTC market provides G Medical with access to individual and institutional American investors, and an entry point into one of the world’s largest capital markets, G Medical says.
The listing cost is nominal and non-dilutive for existing shareholders. Win-win.
READ: Check up — Cashing in on deals done long ago
Comet Resources (ASX:CRL) +13%
Graphite explorer Comet is shooting into base metals with the acquisition of the Barraba copper project in NSW.
The exploration license includes a couple of historic copper mines, called Gulf Creek and Murchison.
Comet says historical workings at Gulf Creek produced high-grade copper and zinc for a short period around the turn of the 19th century, “and this area will form a key part of the initial exploration focus”.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Thursday January 23:
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Chg | Market Cap |
|---|---|---|---|---|
| MRD | Mount Ridley Mines | 0.002 | -33.33% | $5.4M |
| DDD | 3D Resources | 0.001 | -33.33% | $1.2M |
| PPL | Pureprofile | 0.01 | -28.57% | $1.2M |
| MRV | Moreton Resources | 0.003 | -25.00% | $9.3M |
| CCE | Carnegie Clean Energy | 0.0015 | -25.00% | $16.7M |
| DOW | Downer EDI | 6.96 | -20.46% | $4.1B |
| MDI | Middle Island Resources | 0.005 | -16.67% | $6.5M |
| FGO | Flamingo AI | 0.0025 | -16.67% | $2.8M |
| WEC | White Energy Co | 0.09 | -15.24% | $46.0M |
| FTT | Factor Therapeutics | 0.003 | -14.29% | $3.1M |
| PNX | PNX METALS | 0.006 | -14.29% | $14.6M |
| CLT | Cellnet Group | 0.18 | -12.20% | $11.3M |
| TNT | Tesserent | 0.07 | -11.76% | $31.3M |
| AU8 | AuMake International | 0.12 | -11.11% | $39.1M |
| RDS | Redstone Resources | 0.008 | -11.11% | $3.8M |
| TSC | Twenty Seven Co | 0.008 | -11.11% | $9.9M |
| PDI | Predictive Discovery | 0.008 | -11.11% | $4.9M |
Mount Ridley Mines (ASX:MRD) -33%
Like Comet, the micro-cap explorer announced an acquisition. Unlike Comet, the market hasn’t taken it well so far.
Maybe it’s because the 3,889sqkm Ryberg nickel-copper-cobalt-palladium-gold project on the east coast of Greenland is in the middle of nowhere. Ballsy move for a small explorer.
The prize could be big though.
In 2017, a magnetic survey over the western margin of the licence area revealed three big targets — between 60m and 240m vertical depth — that lie beneath substantial high-grade mineralisation at surface.
READ: Rumble unveils big zinc-lead discovery, Mount Ridley eyes ‘company-maker’ in frontier Greenland
