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Lunchtime ASX small cap wrap: Who’s sending mixed signals today?
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Globally, stock markets are soaring to record highs and, by extension, so are the market caps of many major companies. And yet our captains of industry are uneasy.
More than 53 per cent of bosses in an annual survey by PwC — published ahead of the World Economic Forum annual meeting in Davos — anticipate a slowdown in global economic growth this year.
This compares to just 29 per cent the year before. It is the most pessimistic chief execs have been since PwC began asking the question in 2012.
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And while the International Monetary Fund (IMF) actually projects global growth to recover from 2.9 per cent (2019), to 3.3 per cent (2020) and 3.4 per cent (2021), these forecasts have been downgraded slightly.
That’s mostly due to a more subdued growth outlook for India, the world’s #5 economy.
But it’s not all bad; in fact, it’s not bad at all. The Chinese economy (#2) is now tipped to grow by 6 per cent in 2020, up from a previously forecast 5.8 per cent.
Most importantly, downside risks to the global outlook are less pronounced than in the IMF’s October 2019 report.
“Leading indicators suggest the contraction in manufacturing activity is stabilising and service sector activity continues to expand,” reports CommSec.
“The IMF added that the effects of monetary easing and improved sentiment following the phase one US-China trade deal, as well as diminished fears of a no-deal Brexit, have further reduced downside risk to global growth.”
Here are all your key small cap winners and losers in morning trade for Tuesday, January 21:
GOING UP:
Here are the best performing ASX small cap stocks at 12pm Tuesday January 21:
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Chg | Market Cap |
|---|---|---|---|---|
| CCE | Carnegie Clean Energy | 0.0015 | +50.00% | $16.7M |
| MCT | Metalicity | 0.055 | +37.50% | $4.0M |
| AUH | AustChina | 0.004 | +33.33% | $6.2M |
| NME | Nex Metals Exploration | 0.02 | +25.00% | $2.9M |
| DTR | Dateline Resources | 0.0025 | +25.00% | $20.5M |
| WRM | White Rock Minerals | 0.005 | +25.00% | $9.2M |
| WWI | West Wits Mining | 0.011 | +22.22% | $10.3M |
| WEC | White Energy | 0.09 | +21.33% | $47.0M |
| MLL | Mali Lithium | 0.12 | +21.05% | $34.9M |
| CUX | Crossland Strategic Metals | 0.006 | +20.00% | $6.1M |
| TIG | Tigers Realm Coal | 0.012 | +20.00% | $72.5M |
| AQC | Australian Pacific Coal | 0.24 | +20.00% | $12.1M |
| RMP | Red Emperor Resources | 0.01 | +16.67% | $7.4M |
| AIV | ActivEX | 0.11 | +16.67% | $18.6M |
| UUV | UUV Aquabotix | 0.0035 | +16.67% | $1.8M |
| AEE | Aura Energy | 0.007 | +16.67% | $10.7M |
| WGO | Warrego Energy | 0.22 | +15.79% | $156.0M |
| RMI | Resource Mining Corp | 0.008 | +14.29% | $2.4M |
| DW8 | Digital Wine Ventures | 0.008 | +14.29% | $9.5M |
| VUL | Vulcan Energy Resources | 0.21 | +13.51% | $9.9M |
Metalicity (ASX:MCT) +37.5% and
Nex Metals (ASX:NME) +25%
Small explorer Metalicity just announced some not-so-small gold hits from its WA-based Kookynie project joint venture with Nex Metals.
Highlights included 5m at 17.9 grams per tonne (g/t) gold from 48m, including 1m at 80.17g/t gold from 51m.
“With our three drilling programs to date, we have managed to intersect the mineralised structure at all prospects with every drill hole and continue to illustrate that the Kookynie gold project has the potential to be a prolific gold project,” Metalicity managing director Jason Livingstone said:
“These results are also very shallow, which if converted to resources and reserves, could be potentially open pittable.”
Tigers Realm Coal (ASX:TIG) +20%
Yesterday, Russian producer Tigers Realm also told investors that both December quarter and annual mining guidance was surpassed. 2019 sales revenues of $50.4m was also at the top of revised guidance.
The coal market may have weakened in the second half of 2019, but 2020 is looking a lot better, it also says.
Which might explain why fellow small cap coal plays White Energy (ASX:WEC) and Australian Pacific Coal (ASX:AQC) were up on no news.
GOING DOWN:
Here are the worst performing ASX small cap stocks at 12pm Tuesday January 21:
Swipe or scroll to reveal the full table. Click headings to sort.
| Ticker | Name | Price | % Chg | Market Cap |
|---|---|---|---|---|
| PSZ | PS&C | 0.03 | -39.22% | $11.8M |
| ICG | Inca Minerals | 0.001 | -33.33% | $4.1M |
| PNN | PepinNini Lithium | 0.002 | -20.00% | $2.9M |
| AYR | Alloy Resources | 0.002 | -20.00% | $4.2M |
| MGT | Magnetite Mines | 0.004 | -20.00% | $3.9M |
| CTO | Citigold Corp | 0.005 | -16.67% | $12.0M |
| MTB | Mount Burgess Mining | 0.0025 | -16.67% | $1.3M |
| CI1 | Credit Intelligence | 0.03 | -15.15% | $28.5M |
| ATC | Altech Chemicals | 0.06 | -15.07% | $50.2M |
| FTT | Factor Therapeutics | 0.003 | -14.29% | $3.1M |
| PMY | Pacifico Minerals | 0.006 | -14.29% | $17.3M |
| CLA | Celsius Resources | 0.013 | -13.33% | $9.8M |
| GLN | Galan Lithium | 0.2 | -13.04% | $31.9M |
| HNR | Hannans | 0.007 | -12.50% | $13.9M |
| GSW | GetSwift | 0.49 | -12.50% | $92.4M |
| TTA | TTA Holdings | 0.02 | -11.54% | $3.2M |
| YPB | YPB Group | 0.004 | -11.11% | $6.8M |
| SKN | Skin Elements | 0.02 | -11.11% | $2.6M |
| PPY | Papyrus Australia | 0.02 | -11.11% | $4.3M |
Altech (ASX:ATC) -15%
Only hours after high purity alumina developer Altech Chemicals finished a capital raising it learned the hard work was to no avail.
It had successfully raised €2m ($3.2m) in a 40-for-one rights issue, but a German local court refused to register the shares due to a typo that Altech calls “irrelevant”.
The company has refunded the amount raised back to investors and will now start the capital raise again.
