• Benchmark finishes up after fierce struggle for buoyancy
  • Absolutely no one shocked to learn Star’s worn out its welcome in QLD
  • A solid arvo by little league miners was a well-timed boost

It’s been a somewhat indecisive day for Aussie markets, which has flapped around the break-even mark like a mouldy old foxtail tied to the aerial of an HK Kingswood ute, while it motors along the Silver City Highway in a bid to reach Broken Hill before sundown.

Because that’s when the zombies come out, and you don’t want to still be driving when the zombies go a’roaming – hit one of them with your ute, and you won’t get the stink out for weeks.

But the benchmark has closed slightly higher today, and even though it’s only by 0.11%, that tiny fraction of black ink on the ledger was hard fought for, and still counts as a win.

In the Big Leagues, health tech PolyNovo (ASX:PNV) has enjoyed the fruits of a solid results report, adding 22.1% off the back of a record-setting Q1 that included the company’s first-ever $5 million sales month, and phenomenal growth in general.

But a lot of the gains came from our beloved small caps, and most of the double-digit winners were the little league miners, stepping up to crank out some fabulous percentages as the afternoon wore on.

 

Oh look! It’s a falling Star!

We’ll talk more about them in a minute, because the juicy goss for the day belongs to Star Entertainment Group, operators of more pokies than a visit from a creepy uncle and, according to a new report, about as equally welcome in Queensland.

It’s all been a bit hectic around the markets today, but something that didn’t exactly fly under the radar was Queensland taking its turn to sink what looks like a richly-deserved boot into Star Entertainment Group’s (ASX:SGR) ribs.

The Honourable Robert Gotterson AO released the findings of his review into Star’s casino operations up among the bananas, and – to absolutely nobody at all’s surprise – there are some issues. #ThatWeirdScreamPainting.

So many issues, in fact, that Queensland Attorney-General Shannon Fentiman has reached the conclusion that, just like in NSW a few weeks back, Star is unfit to run casinos up north as well.

And so, Star needs to sit down and put together an answer to the inevitable “Please Explain” from the Queensland state government, which is obviously a massive ball-ache for Star, and threatens to derail the transfer of its Brisbane casino licence to the new $3.6 billion Queen’s Wharf casino development next year.

Star is no doubt hoping that this marks the end of the drama that’s left it pock-marked and bruised – and down just shy of 30% for the year so far. But, somehow, we suspect that relief may be some way off just yet.

 

Like a frog in a sock

But in happier news, the aforementioned small caps have been going off like a frog in a sock this afternoon.

The big news – and the day’s big winner – is Beyond International (ASX:BYI), which has torn the covers off an acquisition by Banijay, as part of the latter’s growth strategy in the ever-increasing market for televisual entertainment.

Under the scheme, Beyond Shareholders will pocket $0.7744 per share in cash, a massive 57% premium to the Beyond one-month volume weighted average price up to and including 30 September 2022.

That has, naturally, sent investors into an ape-in frenzy, racing to grab as much as they can while there’s still premium lying on the table – but if you’re not already in, it’s probs too late to bother… BYI has rocketed up 50% since open this morning and has pretty much reached the magic $0.77 price already.

And there’s a swag of little miners that have been cranking out the hits this afternoon, including Woomera Mining (ASX:WML +40%), Variscan Mines (ASX:VAR +38.1%), Alchemy Resources (ASX:ALY +26.9%) and Cobre (ASX:CBE +26.4%).

I’m sure they all have their reasons for packing on the value today, but the hour grows late, deadlines loom – and I’m pretty sure you’re all just here to see some end-of-the-day numbers porn before racing home in time to see what the Dole Bludgers and Dodgy Plumbers are up to on A Current Affair.

So, here are some charts. Loads of numbers on them, and everything. Try not to get too loud if you’re “appreciating” this on the bus, though.

 

ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks:

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

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There were no massively surprising or surprisingly massive losses today, but here’s another saucy little numbers chart for those of you who feel like perusing the darker alleys of downward falling values this evening.

 

ASX SMALL CAP LAGGARDS

Here are the best performing ASX small cap stocks:

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

Wordpress Table Plugin

 

TRADING HALTS

Wellfully (ASX:WFL) – Wellfully is having a fully well deserved capital raise, which it has entered into quite wellfully. Erm… willfully. That should say willfully. Sorry.

State Gas (ASX:GAS) – State Gas is on halt with an announcement about a “strategic acquisition”. Now, I’m no expert, but I reckon it’s probably going to be “more gas”.

Actinogen Medical (ASX:ACW) – Actinogen has an announcement about the results of its Phase 2 biomarker study on people with mild Alzheimer’s Disease, which it will release on Friday, and then a few more times again on Monday.

Matsa Resources (ASX:MAT) – Matsa’s got news about the Linden Gold Alliance Transaction, which will see Princess Aggravata married off to Lord Matsa of Whatsamastayou, with the dowry set at 50,000 ounces of gold and a promise for both kingdoms to come to the other’s aid in times of crisis and war.

99 Loyalty (ASX:99L) – 99 Loyalty would like to advise that it is changing strategic direction. Could be that way, could be this way… it could even be up a bit and to the left. Who knows? 99 Loyalty does, that’s who.

 

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