Lunchtime ASX small cap wrap: who’s got the upper hand so far
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Here are the key ASX small cap winners and losers at lunchtime Tuesday June 12.
The ASX Small Ords hit a new seven-year high today of 2,868.6. It was up 6 points at 2,858.9 at 12.50pm AEST.
MOST TRADED
Atlas Iron (ASX:AGO) was the most traded small cap on the ASX today after much larger rival Fortescue Metals Group (ASX:FMG) took a further 15 per cent chunk of the struggling junior iron ore producer – raising its stake to 19.9 per cent.
The shares dropped 5 per cent to 3.8c by 1pm AEST.
The move is part of an attempt to block Mineral Resources’s (ASX:MIN) “friendly” takeover of Atlas.
While Fortescue is not commenting further on the matter, UBS analyst Glyn Lawcock believes Fortescue’s motivation is Atlas’s 63 per cent stake in the 50 million tonne per annum export facility being built in Port Hedland.
GOING UP
Marindi Metals (ASX:MZN) jumped 33 per cent to 1.6c after finding six ounces of gold nuggets at its Bellary Dome conglomerate gold project in Western Australia’s Pilbara region.
The company told investors today they are just like the ones found by Artemis Resources (ASX:ARV) and Canadian partner Novo Resources at their projects in the Pilbara.
“The stratigraphic position of the conglomerates within the Bellary Dome project is similar to the gold-bearing horizon at the Comet Well/Purdy’s Reward projects – that is, a sequence of conglomerates and other sediments directly above Archaean basement and below the Mt Roe Basalts,” boss Simon Lawson said.
Adriatic Metals (ASX:ADT) gained 25 per cent to 25c in early Tuesday trade after positive results from initial drilling at its Vares project in Bosnia & Herzegovina.
The drilling had delivered a “combination of highest grade and thickest intercept to-date” including 64 metres at 4.6 grams of gold per tonne, 537g/t of silver and 10.8% of zinc.
Adriatic’s CEO Geraint Harris said the “exciting” results were “some of the highest grade polymetallic results on the ASX” and “had the potential to add significant tonnes to any future resource”.
Talent quest host MSM Corp (ASX:MSM) moved ahead 25 per cent today after telling shareholders it was “reducing costs and expanding reach”.
MSM last month raised the curtain on a move into cryptocurrency-style digital tokens and talent management – after emerging from a four-month ASX suspension.
It’s also working on an Indian lauch of its online “Megastar” talent search quest which will bring in a minimum of $US500,000 per year plus 15 per cent of any profits under a joint venture agreement.
MSM said it had just closed a successful capital raising of $3.6 million.
Here’s a snapshot of the best performing ASX small caps at 12.30pm AEST Monday Jun 12.
Swipe or scroll for full table. Click headings to sort data:
ASX code | Company | Price change today (12.30pm AEST) | Price (Tue 12.30pm AESTR) | Market Cap | Volume |
---|---|---|---|---|---|
MEM | MEMPHASYS | 1 | 0.002 | 5.1M | 29M |
VPR | VOLT POWER GROUP | 0.5 | 0.003 | 20.6M | 5M |
NIU | NIUMINCO GROUP L | 0.5 | 0.003 | 6.0M | 21M |
MNB | MINBOS RESOURCES | 0.5 | 0.003 | 10.6M | 9M |
LNY | LANEWAY RESOURCE | 0.5 | 0.003 | 8.4M | 8M |
JKA | JACKA RESOURCES | 0.5 | 0.003 | 1.9M | 403k |
AIY | AUTHORISED INVES | 0.375 | 0.066 | 10.6M | 438k |
SMA | SMARTTRANS HLDS | 0.333333333333 | 0.004 | 19.7M | 500k |
MDX | MINDAX | 0.333333333333 | 0.008 | 4.4M | 63k |
SRO | SHAREROOT | 0.25 | 0.005 | 5.5M | 900k |
S3R | SERPENTINE TECHN | 0.25 | 0.005 | 2.9M | 13M |
RRS | RANGE RESOURCES | 0.25 | 0.005 | 30.4M | 3M |
HDY | HARDEY RESOURCES | 0.25 | 0.005 | 6.1M | 2M |
DDD | 3D RESOURCES | 0.25 | 0.005 | 3.3M | 9M |
CLZ | CLASSIC MINERALS | 0.25 | 0.005 | 6.9M | 1M |
RVY | RIFT VALLEY RESO | 0.2 | 0.024 | 15.8M | 308k |
DW8 | DAWINE | 0.2 | 0.006 | 2.9M | 1M |
CTM | CENTAURUS METALS | 0.2 | 0.012 | 23.0M | 33M |
ADT | ADRIATIC MET-CDI | 0.179487179487 | 0.23 | 25.5M | 2M |
MZN | MARINDI METALS L | 0.0833333333333 | 0.013 | 21.4M | 16M |
MSM | MSM CORPORATION | 0.0833333333333 | 0.026 | 10.3M | 696k |
CLV | CLOVER CORP | 0.0483443708609 | 1.583 | 249.4M | 81k |
A3D | AURORA LABS | 0.0446428571429 | 0.585 | 36.6M | 22k |
LIT | LITHIUM AUSTRALI | 0.04 | 0.13 | 52.6M | 258k |
GOING DOWN
Rex Minerals (ASX:RXM) fell 26 per cent to 12.5c after announcing it had completed a $6 million placement at 11c.
Rex is issuing 54.5 million new shares at 11c — a 35 per cent discount to last week’s closing price.
It now plans to “invite existing shareholders to invest in the company through a Share Purchase Plan at the placement price of 11c per share”.
AVZ Minerals (ASX:AVZ) continues to be sold down after chairman Klaus Eckhof offloaded 32.5 million shares over three days last week.
The news sent the share price of the Congo-focused lithium explorer down more than 42 per cent last Thursday.
AVZ shares were down another 7 per cent to 9.8c today compared to a 52-week high of 37c.
Here’s a snapshot of the best performing ASX small caps at 12.30pm AEST Monday Jun 12.
Swipe or scroll for full table. Click headings to sort data:
ASX code | Company | Price change today | Price Jun 12 (12.30pm AEST) | Market Cap | Volume |
---|---|---|---|---|---|
OEX | OILEX | -0.25 | 0.003 | 8.0M | 2M |
NWE | NORWEST ENERGY | -0.25 | 0.003 | 13.5M | 331k |
AYM | AUSTRALIA UNITED | -0.25 | 0.003 | 5.1M | 114k |
RXM | REX MINERALS | -0.235294117647 | 0.13 | 37.5M | 602k |
BHL | BOYUAN HOLDINGS | -0.206896551724 | 0.46 | 199.0M | 23k |
SLX | SILEX SYSTEMS | -0.203703703704 | 0.215 | 46.0M | 1M |
TKF | TIKFORCE | -0.2 | 0.004 | 969.3k | 2M |
SUR | SUN RESOURCES NL | -0.2 | 0.004 | 3.8M | 500k |
NSE | NEW STANDARD ENE | -0.2 | 0.004 | 3.6M | 530k |
LCY | LEGACY IRON ORE | -0.2 | 0.004 | 7.3M | 200k |
SBR | SABRE RES | -0.2 | 0.012 | 5.5M | 62k |
RWD | REWARD MINERALS | -0.189189189189 | 0.15 | 25.1M | 174k |
TNY | TINYBEANS GROUP | -0.175 | 0.495 | 15.7M | 12k |
FYI | FYI RESOURCES LT | -0.16 | 0.105 | 23.2M | 295k |
TZL | TZ | -0.15 | 0.17 | 14.1M | 280 |
NSL | NSL CONSOLIDATED | -0.142857142857 | 0.012 | 45.5M | 2M |
ALT | ANALYTICA | -0.142857142857 | 0.006 | 21.2M | 621k |
GLE | GLG CORP | -0.135135135135 | 0.16 | 13.7M | 11k |
NML | NAVARRE MINERALS | -0.130434782609 | 0.06 | 20.3M | 187k |
AVZ | AVZ MINERALS | -0.0666666666667 | 0.098 | 196.2M | 30M |