• Adelong Gold cranks out a 143% gain for the day
  • ASX 200 benchmark feel by 0.13% by the close of play
  • China’s December Quarter GDP figures are… let’s just say ‘questionably good at best’

 

We’ve just got time for a super-quick, lightning-round wrap up for today – a lot of which happened this morning, so if you’re after any pre-lunch news, head back to our Lunch Wrap, because it’s heaps longer than this will be.

The short version of everything is this: The ASX fell in the morning, made up lost ground on the way into lunch, and then slid into a home plate on a 0.18% dip, after a rather directionless day that saw Consumer Staples (+1.85%) and Health Care (+1.16%) do well, Materials (-1.28%) and Utilities (-1.39%) do not well and everything else do pretty much in the middle of all of that racket.

There was once very, very clear market winner today – Adelong Gold (ASX:ADG), which has bolted by a full 142% this morning on news that a follow-up drilling program at Gibraltar has turned up a reasonable set of intercepts, which look like this:

  • 1m @ 4.99g/t Au from 11 metres (3DGIB007);
  • 3m @ 12.57g/t Au from 20 metres (3DGIB007)
    • including 1m intersection at 34.6g/t Au (3DGIB007);
  • 1m @ 18.55g/t Au from 78 metres (3DGIB007);
  • 6m @ 2.79g/t Au from 90 metres (3DGIB008);
    • Including 1m @ 8.58g/t Au; and
  • 1m @ 10.75g/t Au from Surface (3DGIB009)

While Adelong may still be but a minnow on the market, that’s a thumper of a daily gain, and deserves a round of applause.

 

ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks:

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

Code Company Price % Volume Market Cap
ADG Adelong Gold Limited 0.019 171% $122,525,205.00 $3,211,756
CCE Carnegie Cln Energy 0.002 33% $3,769,523.00 $23,463,861
ROO Roots Sustainable 0.002 33% $287,314.00 $1,558,829
PEC Perpetual Res Ltd 0.023 28% $1,621,318.00 $9,818,711
CZN Corazon Ltd 0.025 25% $7,532,425.00 $12,206,611
CT1 Constellation Tech 0.005 25% $992,335.00 $5,884,801
IPT Impact Minerals 0.01 25% $25,656,067.00 $19,850,964
ROG Red Sky Energy. 0.005 25% $2,338,893.00 $21,208,909
DOU Douugh Limited 0.016 23% $14,333,681.00 $12,770,366
ADV Ardiden Ltd 0.009 20% $6,080,044.00 $20,162,515
BMG BMG Resources Ltd 0.018 20% $822,605.00 $5,789,875
CAV Carnavale Resources 0.006 20% $2,534,982.00 $13,667,759
XTC Xantippe Res Ltd 0.006 20% $11,616,515.00 $51,460,174
A3D Aurora Labs Limited 0.037 19% $851,977.00 $5,708,900
PRS Prospech Limited 0.033 18% $69,682.00 $2,472,361
EOS Electro Optic Sys. 0.68 17% $1,277,438.00 $99,316,883
FFG Fatfish Group 0.021 17% $1,703,654.00 $18,654,838
LNU Linius Tech Limited 0.0035 17% $319,937.00 $8,938,239
MHC Manhattan Corp Ltd 0.007 17% $3,454,324.00 $9,157,672
MOB Mobilicom Ltd 0.007 17% $572,139.00 $7,987,678
NZS New Zealand Coastal 0.0035 17% $275,000.00 $3,381,015
RXH Rewardle Holding Ltd 0.014 17% $400,000.00 $6,315,858
TRE Toubani Resources 0.1925 17% $61,761.00 $5,412,715
IND Industrialminerals 0.39 16% $280,785.00 $9,999,750
AX8 Accelerate Resources 0.03 15% $733,922.00 $9,817,646
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Also performing well was Corazon Mining (ASX:CZN), which also caught the attention of investors, adding 30.0% this morning but easing to +25.0% late in the day, off the back of high-grade lithium assay results from spodumene-bearing pegmatite within the Miriam Nickel Sulphide Project in the Eastern Goldfields region of Western Australia.

There are a couple of FinTech players on the rise today as well, including Douugh (ASX:DOU) which added 23.5% on no particular news, but likely on the heels of a broader sector-wide hustle.

And rounding out the Small Caps newsmakers today are the space-boffins at Electro Optic Systems (ASX:EOS), which – again – not really much in the way of news for quite some time, but enjoying being on the right end of a 17.3% move today.

 

ASX SMALL CAP LAGGARDS

Here are the least best performing ASX small cap stocks:

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

Code Company Price % Volume Market Cap
MTH Mithril Resources 0.003 -25% 209,999 $13,052,361
AQX Alice Queen Ltd 0.002 -20% 355,914 $5,500,625
OKJ Oakajee Corp Ltd 0.026 -19% 31,250 $2,926,273
FHS Freehill Mining Ltd. 0.005 -17% 548,705 $11,561,093
PUA Peak Minerals Ltd 0.005 -17% 100,000 $6,248,260
RBR RBR Group Ltd 0.0025 -17% 58,301 $4,220,214
AHN Athena Resources 0.011 -15% 17,787,542 $11,316,078
ZAG Zuleika Gold Ltd 0.017 -15% 878,954 $10,461,013
WOO Wooboard Tech Ltd 0.006 -14% 41,000 $1,609,684
HMY Harmoney Corp Ltd 0.53 -14% 51,268 $62,456,686
WWI West Wits Mining Ltd 0.019 -14% 7,729,660 $44,990,829
ATU Atrum Coal Ltd 0.007 -13% 313,238 $11,133,593
IMB Intelligent Monitor 0.11 -12% 188,739 $16,337,537
EMT Emetals Limited 0.0115 -12% 9,671,187 $11,050,000
HCT Holista CollTech Ltd 0.024 -11% 266,242 $7,527,602
ANR Anatara Ls Ltd 0.04 -11% 3,315 $4,997,748
LIN Lindian Resources 0.24 -11% 13,690,295 $263,995,691
ICN Icon Energy Limited 0.008 -11% 40,000 $6,912,123
NAE New Age Exploration 0.008 -11% 149,646 $12,923,090
DRA DRA Global Limited 1.7 -11% 34,975 $103,379,946
CLZ Classic Min Ltd 0.009 -10% 19,509,446 $8,762,253
DTM Dart Mining NL 0.054 -10% 91,196 $9,337,234
ASB Austal Limited 1.8225 -10% 1,856,752 $732,132,588
GRV Greenvale Energy Ltd 0.14 -10% 564,501 $65,366,942
HIO Hawsons Iron Ltd 0.095 -10% 5,024,768 $85,336,319
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NOT THE ASX

Overseas briefly, and market conditions in Asia have been a tad variable. Japan’s Nikkei is up 1.31% as the focus of the nation’s attention is drawn once again to defence, following the start of fighter jet exercises being held jointly with India, near Tokyo.

Meanwhile in China, the release of December Quarter GDP figures there have raised more questions than they’ve answered – especially considering that China “somehow” managed to crank out a dead-flat 0% growth over three months that saw enormous swathes of the population either falling over because of Covid, or locked inside to hide from it.

The reliability of China’s internal economic data has long been the topic of whispers, innuendo and fits of outright, helpless laughter – but Julian Evans-Pritchard, China economist for Capital Economics told ABC News that this is a GDP figure that is “implausible”.

Maybe it’s a rounding error, or Chinese officials genuinely thought that once growth shrank to 0% they were allowed to stop counting and take the rest of the month off – but either way, let’s just say if our eyebrows were raised any higher, we’d need to rent out some office space upstairs to make room for them.

In Hong Kong, the Hang Seng sank 1.11% because of reasons, and in Shanghai things were way better than that, down just 0.24% because of a rounding error. Maybe. I really don’t know.

 

LAST ORDERS

Arrow Minerals (ASX:AMD) has released a revised announcement, as it’s currently very much in vogue, concerning the results of the Company’s initial mapping program conducted over the Simandou North Iron Project, in Guinea.

That’s the old Guinea, not the more recent one Queensland had installed off the coast in 1802, because of a slight croc problem they were having on the beaches.

Arrow says that its geological survey team has visually identified three lithological units with significant potential to host high-grade iron, including:

  • Siliceous haematite – the distribution of this unit throughout the project area confirms the potential for significant haematite bodies to occur. Haematite is the most important of the Simandou iron ores.
  • Goethite-haematite – these are two primary iron ore minerals with goethite forming via weathering of haematite. This is considered an important indication of the presence of iron bearing stratigraphy.
  • Canga – a ferruginous laterite consisting of fragments of iron formation cemented with limonite, which is generally proximal to subsurface iron bearing units. Canga can form a valuable ore in its own right.

Meanwhile, this one seems to have flown under the radar a bit today – Breaker Resources (ASX:BRB) has announced that it’s hit bonanza-grade gold at its Northern Flats and Tura primary lodes beneath the company’s Bombora Discovery in WA.

Breaker says the best results from the Northern Flats include:

  • 0.78m @ 199.1g/t gold from 659.37m in BBDD158 (est. true width = 0.54m)
  • 1.18m @ 8.63g/t gold from 460.0m in BBDD158 (est. true width = 0.82m)

While the one diamond hole targeting extensions of the Tura lode also returned significant results including:

  • 10.27m @ 6.09g/t gold from 348.5m (est. true width = 5.2m)
  • 1.20m @ 60.52g/t gold from 129.8m (est. true width = 1.1m)

Breaker’s up by 4.62% this afternoon – but even throwing about numbers like 199.1g/t gold and 60.52g/t gold, today was always going to be a tough sell with the likes of Adelong Gold putting in a +143% performance.

And finally, a bit more insight into Australian Pacific Coal (ASX:AQC) ex-CEO David Conry’s abrupt exit from the company, courtesy of our stablemates and all-round far better journos that me at the Australian, who wrote:

“Mr Conry quit after a hectic December quarter for APac Coal, with shareholders delivering a 90 per cent vote against the company’s remuneration report in late November after the company’s major shareholders saw off multiple takeover offers from companies associated with former billionaire Nathan Tinkler.”

So… I guess that’s that, then.

 

TRADING HALTS

Xanadu Mines (ASX:XAM) – Capital Raise

Cyclone Metals (ASX:CLE) – Capital Raise

Openn Negotiation (ASX:OPN) – Capital Raise

Black Cat Syndicate (ASX:BC8) – Capital Raise

Arovella Therapeutics (ASX:ALA) – Capital Raise

Aston Minerals (ASX:ASO) – Annnnnd just to make sure we’re all still awake, Aston’s called a halt pending an announcement regarding a maiden gold resource.

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