It looks like the opposition Labor Party has a new leader in the wake of last Saturday’s election loss, with Anthony Albanese preparing to step into the top job.

There was some chatter overnight that Queensland’s Jim Chalmers would mount a late challenge. But just before midday he pulled out of the race, with ‘Albo’ now expected to run unopposed.

In small cap land, the market continued its post-election rally with the ASX Small Ords climbing 7.9 points to 2,859.20, a gain of 0.27 per cent.


Underwater tech company UUV Aquabotix (ASX: UUV) had a big morning after signing another deal with the US military.

The defence force with the world’s largest military budget has taken a liking to UUV’s SwarmDivers — miniature vehicles which can be deployed in underwater diving operations.

The company said it’s been awarded a contract of around $150,000, which marks the US military’s fourth SwarmDiver order since April 2018. Shares in the company climbed by as much as 150 per cent to 1.5 cents.

Also rocketing higher was Flamingo Ai (ASX:FGO), which briefly doubled on news of a commercial deal with HSBC.

After trialling a virtual AI assistant designed by Flamingo, the Hong Kong-based banking multinational has signed the Aussie company up to build them the real thing.

And healthcare stock Imagion Biosystems (ASX: IBX) rose more than 30 per cent after successfully completing a toxicology safety study for its MagSense nanoparticle formulation used in the detection of breast cancer.

Here are the best performing ASX small cap stocks at 12.00pm on Thursday May 23:

Ticker Name Price % Chg Market Cap Volume
UUV UUV Aquabotix Ltd 0.015 150% $2,600,000 33.9M
FGO Flamingo AI Ltd 0.0085 70% $9,500,000 119.3M
ANL Amani Gold Ltd 0.003 50% $11,100,000 21.0M
BAS Bass Oil Ltd 0.003 50% $7,800,000 450.0k
VIC Victory Mines Ltd 0.003 50% $3,800,000 1.3M
SIS Simble Solutions Ltd 0.04 40% $4,300,000 2.7M
IBX Imagion Biosystems Ltd 0.03 33% $10,300,000 2.7M
PSM Peninsula Mines Ltd 0.004 33% $4,000,000 22.5k
IS3 I Synergy Group Ltd 0.13 30% $23,800,000 6.7k
CAV Carnavale Resources Ltd 0.005 25% $3,300,000 130.0k
SMD Syndicated Metals Ltd 0.005 25% $3,300,000 100k
FRM Farm Pride Foods Ltd 0.27 23% $14,600,000 265.1k
KAS Kasbah Resources Ltd 0.06 23% $8,700,000 10.0k
MEB Medibio Ltd 0.011 22% $2,700,000 330.0k
CIO Connected IO Ltd 0.008 20% $5,400,000 3.3M
E2E Eon NRG Ltd 0.006 20% $4,600,000 146.7k
QGL Quantum Graphite Ltd 0.003 20% $22,700,000 3.4M
TFL TasFoods Ltd 0.19 18% $40,300,000 814.8k
PET Phoslock Environmental Tech 0.52 17% $284,600,000 4.9M
NVO NVOI Ltd 0.015 15% $15,500,000 5.5M
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On the other end of the spectrum, fintech software platform Intiger Group (ASX: IAM) got smashed after a deal with Commonwealth Bank fell through.

The company said its financial planning software met all of the standards and metrics agreed to between the two parties, however it was “unable to negotiate an ongoing commercial agreement”. Shares in Intiger fell more than 80 per cent to 0.1 cents.

Here are the worst performing ASX small cap stocks at 12.00pm on Thursday May 23:

Ticker Name Price % Chg Market Cap Volume
IAM Intiger Group Ltd 0.001 -86% $1,700,000 73.6M
DTR Dateline Resources Ltd 0.002 -33% $15,900,000 130.0k
VMG VDM Group Ltd 0.0015 -25% $9,400,000 58.0k
TBH Betmakers Holdings Ltd 0.04 -22% 10,300,000 306.0k
AJJ Asian American Medical Group 0.09 -21% $32,100,000 12.0k
ICG Inca Minerals Ltd 0.004 -20% $12,300,000 48.5M
BEE Broo Ltd 0.02 -18% $14,200,000 30.0k
TYX Tyranna Resources Ltd 0.005 -17% $4,700,000 80.0k
MRV Moreton Resources Ltd 0.005 -17% $15,500,000 700.0k
ESR Estrella Resources Ltd 0.01 -17% $5,300,000 301.4k
EQE Equus Mining Ltd 0.005 -17% $4,500,000 4.0k
CTM Centaurus Metals Ltd 0.006 -14% $16,200,000 100.0k
BLY Boart Longyear Ltd 0.0035 -13% $92,000,000 2.0M
RFR Rafaella Resources Ltd 0.07 -13% $2,700,000 50.0k
EDE Eden Innovations Ltd 0.04 -12% $61,400,000 20.5M
3DP Pointerra Ltd 0.04 -12% $19,800,000 4.5M
RDN Raiden Resources Ltd 0.008 -11% $3,300,000 1.3M
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