• ASX 200 benchmark closes 0.11% lower after a fickle day on the bourse
  • Iron ore price drops to five month lows, making (almost) everyone sad
  • Larvotto ends up on top of the Small Caps, adding 61.9% for the day


Aussie markets were a tad mercurial throughout the day, leaving the benchmark peering around for a clue on which way and how far it should move, before settling on “not very far” and “downwards” to complete the session at -0.11%.

A brief look at the sectors puts Real Estate at the top of the ladder on +1.14%, with InfoTech a close second on +0.98%.

It was a less-pleasing result for people who like massive holes in the ground, as the Materials and Energy sectors both flagged throughout the day, leaving them lower by 1.66% and 0.60% respectively.

That dip can largely be attributed to a broad selloff of iron ore stocks, thanks to (drumroll,  please…) “an avalanche of meddling by the Chinese Government”, as our very own Josh Chiat wrote last week.

The knock-on effect of that saw iron ore prices continue to tumble today, with spot iron ore prices plunging by 6% to a 5-month low on subdued buying interest from steel mills and an increase in port inventories.

The spot iron ore price has now fallen around 20% since the middle of March, when it was trading around the $US132.70 a tonne level.

But a falling iron price didn’t mean it was a total disaster across the board, as a number of Small Cappers found themselves in very positive territory by the close of the session today.



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
LRV Larvottoresources 0.335 60% 6,563,075 $14,123,492
OAU Ora Gold Limited 0.003 50% 200,373 $7,873,850
WMG Western Mines 0.81 41% 9,163,181 $28,204,900
MTC Metalstech Ltd 0.385 33% 871,485 $51,461,831
OSL Oncosil Medical 0.013 30% 10,642,417 $9,942,423
L1M Lightning Minerals 0.195 30% 742,481 $5,590,687
MTH Mithril Resources 0.0025 25% 951,820 $6,526,180
SIH Sihayo Gold Limited 0.0025 25% 409,515 $12,204,256
ICE Icetana Limited 0.047 24% 265,252 $7,574,480
LME Limeade Inc. 0.2 21% 38,904 $42,354,386
ROO Roots Sustainable 0.009 20% 2,652,980 $649,513
WOO Wooboard Tech Ltd 0.018 20% 3,406,525 $3,449,323
EDE Eden Inv Ltd 0.006 20% 4,445,574 $14,984,722
HSC HSC Technology Group 0.012 20% 10,593,806 $22,786,393
EDC Eildon Capital Group 0.9425 19% 26,403,162 $37,320,087
CHR Charger Metals 0.44 19% 1,346,817 $16,174,316
HFY Hubify Ltd 0.032 19% 665,363 $13,395,680
PVS Pivotal Systems 0.01 18% 1,824,397 $2,125,120
AGR Aguia Res Ltd 0.042 17% 77,875 $15,618,753
ODA Orcoda Limited 0.21 17% 842,961 $30,088,272
BAT Battery Minerals Ltd 0.0035 17% 53,750 $8,848,327
FAU First Au Ltd 0.007 17% 4,357,127 $6,568,700
YPB YPB Group Ltd 0.0035 17% 1,031,250 $1,857,747
TSO Tesoro Gold Ltd 0.036 16% 10,478,236 $32,658,890
IAM Income Asset 0.15 15% 8,000 $36,402,707
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The big winner for Monday was Larvotto Resources (ASX:LRV), which stacked on another 59.5% to add to its recent admirable climb on the back of some stellar exploration results from its Merivale South REE prospect.

The explorer keeps gaining after last week reporting high grade clay rare earths drill results up to 1.26% (12,611ppm) at Merivale South, part of the Eyre lithium-nickel-REE project in WA.

That 1m intercept was within a larger 12m at 2326ppm TREO, and the company says the mineralisation may be hosted within ionic clays, making it suitable for simple, cost-effective extraction. Testwork to confirm this theory is currently underway.

Next best was Western Mines Group (ASX:WMG), which has been something of a market darling in recent times – a status further cemented by the company’s 41.7% climb today that took its trading price up to $0.80 per share.

That’s still below the company’s all-time high that it hit last week, but still enough to have WMG up more than 409% for the month, as the company continues work to dial in on the motherlode at its “extensive” Mulga Tank system.

Rounding out the Top 3 for today is gold explorer MetalsTech (ASX:MTC), which has cranked out a 33% hike on absolutely no news, but close to a 10x surge in volume for the day.

There seems to be a fair bit of ‘sudden surges in activity despite no news’ happening around the market at the moment, with a few price query postcards from the ASX making their way to a number of apparently equally-bewildered Small Caps over the past few trading days.



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
GGX Gas2Grid Limited 0.001 -33% 241,886 $6,115,653
PRM Prominence Energy 0.001 -33% 1,281,912 $3,636,913
GGE Grand Gulf Energy 0.0145 -31% 54,295,740 $34,865,188
AHN Athena Resources 0.003 -25% 13,014 $4,281,870
XTC Xantippe Res Ltd 0.003 -25% 773,058 $42,320,399
HXL Hexima 0.01 -23% 26,000 $2,171,515
ENT Enterprise Metals 0.007 -22% 850,000 $6,345,726
RGS Regeneus Ltd 0.012 -20% 935,732 $4,596,554
K2F K2Fly Ltd 0.1 -20% 6,500 $21,914,350
AVM Advance Metals Ltd 0.008 -20% 62,245 $5,820,441
EMU EMU NL 0.002 -20% 20,000 $3,625,053
M4M Macro Metals Limited 0.004 -20% 189,973 $9,785,389
NTM Nt Minerals Limited 0.008 -20% 5,296,929 $8,006,989
ROG Red Sky Energy. 0.004 -20% 444,730 $26,511,136
BDG Black Dragon Gold 0.037 -18% 128,949 $9,030,152
OSX Osteopore Limited 0.079 -17% 1,015,424 $11,773,816
DTM Dart Mining NL 0.06 -17% 553,581 $11,204,680
M24 Mamba Exploration 0.125 -17% 4,582,913 $9,147,501
ERL Empire Resources 0.005 -17% 1,477,064 $6,677,610
DGR DGR Global Ltd 0.048 -16% 943,145 $59,490,528
INV Investsmart Group 0.16 -16% 16,495 $26,831,648
EEL Enrg Elements Ltd 0.016 -16% 4,575,392 $17,655,451
RC1 Redcastle Resources 0.011 -15% 600,862 $3,715,194
DUN Dundasminerals 0.145 -15% 33,178 $8,065,523
CNB Carnaby Resource Ltd 1.26 -14% 1,516,459 $213,827,514
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Just a couple of quickies to mention today, starting with EQ Resources, which got a speeding ticket from the ASX this morning after the company’s price sprinted from $0.068 on 18 April to a high of $0.088 at the time the ASX put pen to proverbial paper.

EQR has fired back a quick “nothing to see here” reply, so the reason for the surge in interest and price looks set to remain another Small Caps Unexplainable Moment for the time being, which seems to be quite fashionable around here at the moment.

Meanwhile, serial board-member John Mullen can now add “winemakers” to his lengthy CV, after it was announced that he’s landed a seat at the Big Table with Treasury Wine Estates (ASX:TWE).

Mullen’s name is a familiar one in business circles – he’s currently an independent Non-executive Chairman of ASX-listed Telstra (ASX:TLS) and Brambles (ASX:BXB), and an independent Non-executive Director of Canadian public company Brookfield Infrastructure Partners.

“I am delighted to welcome John Mullen to the Board,” TWE chairman Paul Rayner said. “He is a highly respected Non-executive Director with extensive international experience in transport, logistics and technology and will be a very valuable addition to the Board.”



Titanium Sands (ASX:TSL) – Announcement on the way about a material joint venture agreement.

Coppermoly (ASX:COY) – AGM decision results pending.

Resolution Minerals (ASX: RML) – Capital raising.

CardieX (ASX:CDX) – Announcement incoming regarding progress in relation to FDA approval for its Pulse device.

Tigers Realm Coal (ASX:TIG) – Announcement regarding a proposed privatisation and delisting of the company.

LawFinance (ASX:LAW) – Announcement by LAW in connection with its existing debt facilities and the funding transaction and debt restructure.