• The ASX tracks lower to finished the week with a whimper
  • Stokes v Hancock set to finally figure out how the west was won
  • Zenith pulls the pin just days out from Mackerel IPO

The ASX has snapped its winning streak today, finishing Friday 0.72% lower thanks to a flagging Energy sector and distinct lack of absurd Small Caps mooners going zooming into space.

Health Care (+1.32%) and Telcos (+0.98%) were the day’s only real winners, after both Energy (-2.61%) and Real Estate (-2.27%) combined to give everyone a bit of end-of-the-week indigestion and drag us all into the gloom.

Just in time for the weekend, guys. Thanks heaps for that.



Well… yeah. About them. It would seem that the murky dismals have set in right throughout the region today.

Japan’s Nikkei fell 1.76%, Hong Kong’s down 0.66% and Shanghai’s dipped 0.34% – thanks in no small part to ongoing hassles throughout China over Covid restrictions, mass protests and a general “to be honest, we’re not completely sure how that’s all going to pan out” sentiment across Asian markets.

The US is having its own issues as well – contrasting data combined to put Wall Street into “take indecisive action” mode overnight, and the looming industrial action from railway workers took a critical hit as well.

​​The Senate voted 80-15 in favour of an agreement brokered by the Biden Administration in September, which includes a 24% pay rise for the workers – but a separate vote that would have granted them sick leave was knocked back. By a *lot*.



Thank you, random US Socialist person, for that particular hot take on how things have gone down.

It’s a case of hurry-up-and-wait to see whether the four major rail unions that have been rattling their sabres about industrial action on 9 December are prepared to forge ahead with those plans.

But given that Congress has effectively said “This is what you’re getting, because now it’s the law”, any industrial action is now technically illegal, and that means that the bunfight is only going to get worse if the unions don’t cave.



There’s a war brewing in the West, and it’s got all the hallmarks of being a belter – Kerry Stokes is going head-to-head against Australia’s Richest Person, Gina Reinhart – but this time, it’s got nothing to do with Netball.

The prize is Warrego Energy (ASX:WGO) – which Stokes’ Beach Energy (ASX:BPT) dropped a smooth 20c per share bid for a little while back that was enough for the Warrego board to say “Sold!” and recommend it be taken up.

Enter Ms Reinhart, who sauntered into the saloon with a 23c per share offer that threw the Stokes bid into chaos, and valued the company at $280 million – and had the sound of a leather duelling glove being applied with hefty velocity against the cheek of Stokes ricocheting off the walls.

Which brings us to today – and Beach has upped its bid to 25c (Warrego value: ~$305 million) to push Hancock Prospecting’s bid off the table.

Except that Hancock has bounced back swinging with a 28c per share bid, neatly fulfilling our prediction for a spectacular bidding war.

Now, given that both combatants are very much not short of a quid, this could turn into something of a spectacle – and the idea of a Super-Heavyweight money fight is always a juicy prospect.

Meanwhile, Warrego must be entirely delighted by all this, because the board had already recommended shareholders accept Beach’s original offer at 20c a share.

Everything from here on in is essentially gravy. #ThickAndRich.

There are a few other bits of news from the diggers, which you can catch over in Last Orders – but for now, let’s look at who’s won and who hasn’t in our beloved Small Caps market.



Here are the best performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

PRM Prominence Energy 0.0015 50% 3,483 $2,424,609
MRQ Mrg Metals Limited 0.004 33% 3,568,483 $5,871,176
APC Aust Potash Ltd 0.023 28% 7,931,378 $16,618,845
OAR OAR Resources Ltd 0.007 27% 2,082,857 $12,160,708
MFD Mayfield Childcr Ltd 1.215 26% 474,707 $63,026,760
IPB IPB Petroleum Ltd 0.01 25% 1,550,115 $3,650,959
DUB Dubber Corp Ltd 0.445 24% 2,593,406 $110,357,056
MMA Maronanmetalslimited 0.285 21% 512,601 $17,625,002
ARR American Rare Earths 0.24 20% 6,415,780 $88,876,160
PKD Parkd Ltd 0.024 20% 25,092 $2,004,003
TD1 Tali Digital Limited 0.003 20% 960,000 $3,543,813
LCL Los Cerros Limited 0.051 19% 12,534,109 $30,775,691
AUC Ausgold Limited 0.052 18% 7,266,083 $89,296,880
FFF Forbidden Foods 0.046 18% 264,991 $4,032,721
TOR Torque Met 0.2 18% 23,236 $10,730,392
ZEO Zeotech Limited 0.047 18% 2,332,851 $65,628,227
POL Polymetals Resources 0.245 17% 84,935 $8,648,365
TOY Toys R Us 0.035 17% 3,145,474 $25,892,600
VTI Vision Tech Inc 0.35 17% 11,053 $9,398,731
AVW Avira Resources Ltd 0.0035 17% 6,380,527 $6,401,370
DCX Discovex Res Ltd 0.0035 17% 697,250 $9,907,704
DDT DataDot Technology 0.007 17% 199,998 $7,463,217
E2M E2 Metals 0.18 16% 954,140 $30,865,510
WR1 Winsome Resources 1.275 16% 4,944,488 $153,111,223
BDT Birddog 0.185 16% 4,062 $32,738,462
Wordpress Table Plugin


Not much has changed from lunchtime, where we reported that there’s plenty to cheer about for Mayfield Childcare (ASX:MFD), which has shot up 25.9% after announcing that it’s received an unsolicited, indicative, conditional and non-binding proposal from Genius Education Holdings for an outright purchase at $1.28 cash per share.

Mayfield says it’s been swatting away potential suitors for a while now, but the offer from Genius “represented the highest offer price from the Proposals received and had the least conditions attached to completion”.

“As such, the Mayfield Board determined that, given the current share price and market conditions, it is in the best interests of Mayfield shareholders to allow Genius to proceed with its due diligence investigations and for the Board to engage further with Genius on an exclusive basis to progress the Genius Proposal,” the company says.

Prior to the announcement, Mayfield was at $0.965 – so the Genius play is at a significant premium. At least, it was – Mayfield’s at $1.24 already so far since the announcement was made.

Also making waves this morning (outside of the Penny Dreadfuls) is Dubber (ASX:DUB), which has had a difficult time of things of late, including some disastrous financial reporting that saw more than $18 million in revenue effectively written off in October, sending its price into the gutter.

However, Dubber announced a couple of days ago that Ernst & Young will be taking care of the company’s auditing from here on in – which might have been decided independent of the October cashtastrophe – but it’s got investors back on board to the tune of 25.0%.

Worth noting as well for today is a sharp rise this arvo by Toys’R’Us (ASX:TOY), which has climbed 26.6% after everyone realised it’s the 2nd of December and Christmas is, like, just around the corner.

Plus Toys’R’Us had a belter of a sales season over the past few weeks, as well. Which is far more likely why it’s gone soaring this afternoon.



Here are the best performing ASX small cap stocks:

Swipe or scroll to reveal full table. Click headings to sort:

VIP VIP Gloves 0.004 -33% 2,038,554 $4,720,689
DUN Dundasminerals 0.2 -31% 2,919,286 $12,888,833
GFN Gefen Int 0.054 -29% 168,671 $5,175,610
DW8 DW8 Limited 0.0015 -25% 53,665,024 $6,499,370
NMR Native Mineral Res 0.13 -24% 806,162 $19,660,474
MRD Mount Ridley Mines 0.004 -20% 5,347,500 $34,682,524
PUA Peak Minerals Ltd 0.005 -17% 1,638,460 $6,248,225
AR9 Archtis Limited 0.105 -16% 1,611,881 $33,027,901
KNM Kneomedia Limited 0.016 -16% 744,938 $25,571,676
K2F K2Fly Ltd 0.165 -13% 141,032 $33,088,433
BGE Bridgesaaslimited 0.1 -13% 47,093 $3,339,141
AJQ Armour Energy Ltd 0.007 -13% 40,555 $18,655,985
AYT Austin Metals Ltd 0.007 -13% 200,050 $8,126,997
CAD Caeneus Minerals 0.0035 -13% 4,466,677 $21,382,420
GCR Golden Cross 0.007 -13% 2,039,677 $8,778,049
PXX Polarx Limited 0.007 -13% 1,843,790 $8,450,930
RIM Rimfire Pacific 0.007 -13% 350,000 $14,449,958
THR Thor Mining PLC 0.007 -13% 25,550,953 $8,823,068
BXN Bioxyne Ltd 0.021 -13% 4,450 $15,975,490
LIN Lindian Resources 0.215 -12% 3,996,142 $221,555,812
HYT Hyterra Ltd 0.022 -12% 12,171,277 $12,039,967
GSM Golden State Mining 0.048 -11% 200,000 $6,318,767
AVE Avecho Biotech Ltd 0.008 -11% 152,356 $16,540,824
GNM Great Northern 0.004 -11% 563,888 $7,690,729
MTH Mithril Resources 0.004 -11% 3,367,774 $13,231,049
Wordpress Table Plugin



Advance Metals (ASX:AVM) – Cap raise.

Arafura Rare Earths (ASX:ARU) – Cap raise.

Antilles Gold (ASX:AAU) – Cap raise.

RPM Automotive Group (ASX:RPM) – Cap raise.

Payright (ASX:PYR) – Waiting on news about the outcome of the institutional component of the accelerated entitlement offer.


And that’s it from us for the week. Enjoy your weekend – we’ll be back again on Monday. Maybe.