• The ASX 200 starts the week with a bang
  • Materials surge has investors beaming
  • China learns a brutal lesson about leadership from Hong Kong

It’s the end of the day, and we’re all clearly super-happy because it’s been a positive run for Aussie markets, thanks to an enormous boost from the Materials sector this morning that brought with it enough momentum to keep an even keel through to close.

When the bell rang this morning, the ASX 200 shot up 2.2%, largely on the back of a ~4.0% surge in Materials, but a number of other sectors got in on the get-good action as well.

Things have eased somewhat as the day wore on, though, with the benchmark looking ripe to close out Monday 1.6% higher, after drifting slowly south for the bulk of the day’s trading until a similarly gentle waft skyward as the final theme music began to play.

Leading the charge among teh Big Players today was Novonix (ASX:NVX), which is roaring up the charts following a US$150 million (roughly $236 million of our puny Earth dollars) dollop of gravy from the plate of Uncle Sam, which was announced last week.

We have more of a look into that a little later on, because the ASX has been asking some questions about who knew what when…

Also doing well at the top end of town were Evolution Mining (ASX:EVN) up 8.0% and Syrah Resources (ASX:SYR) up 9.32%.  Stanmore (ASX:SMR) was up around 6.8% at lunchtime, but has since eased to a nice but not really amazing +3.34% for the day.

And child surveillance techy Life360’s (ASX:360) gains also eased somewhat over the afternoon – up 13.4% on news that the company has decided to charge parents even more money to keep their children tracked like pet cavoodles. 360’s gains eased from 13.8% at lunch to a heavily surveilled 12.5% by close.



In Asia, the big news is market reactions to Chinese leader Xi Jinping ordering his subordinates to crown him God Emperor of All He Surveys Forever and Ever Amen.

If anyone needed a reason to doubt that might not be the very best idea to come out of China in recent times, the Hong Kong market’s 5.0% plunge today should be “Exhibit A”.

It’s very clear that Hong Kong investors (and, by extension, pretty much everyone else in Hong Kong) aren’t feelin’ the Xi Jinping love, after it became abundantly clear that the Chinese leader has purged the ranks and – as Bloomberg puts it – “stacked his leadership ranks with loyalists”.

Whether Hong Kong’s market sinking into the sea today had much of an effect on local markets isn’t clear, but it’s hard not to pin at least some of the blame for the muted results throughout local markets as the day wore on, in comparison to such a strong start before Chinese markets opened.

Weirdly – almost too weirdly – Shanghai’s markets didn’t dip nearly as far, down a comparatively “no no, everything’s fine, nothing to see here” 0.79%.

Japan, on the other hand, managed to squeak out a 0.68% gain, despite the regional air being thick with building tensions. The next couple of weeks could be pretty bumpy for everyone in that part of the world.

In commodities, things are mixed as well, with oil reversing course from this morning to drop 0.48%, following gas which has slumped by 2.32%.

But shiny things are all shiny once more, with gold up 0.41%, silver climbing 1.65% and copper getting better from its downward blip this morning to end with an upward blip of 0.20%.



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
ARE Argonaut Resources 0.0015 50% 35,000,000 $5,428,538
CLE Cyclone Metals 0.003 50% 21,322,278 $12,233,474
W2V Way2Vatltd 0.036 44% 658,223 $4,446,105
IS3 I Synergy Group Ltd 0.043 34% 24,999 $8,976,286
NVX Novonix Limited 2.95 33% 13,328,672 $1,075,562,588
KEY KEY Petroleum 0.002 33% 528,857 $2,951,892
NZS New Zealand Coastal 0.004 33% 515,860 $3,381,015
MKL Mighty Kingdom Ltd 0.038 27% 1,580,577 $4,624,284
DVL Dorsavi Ltd 0.015 25% 76,000 $5,220,075
RDN Raiden Resources Ltd 0.01 25% 22,990,219 $13,059,537
CCZ Castillo Copper Ltd 0.021 24% 6,241,516 $22,091,591
NWM Norwest Minerals 0.033 22% 405,700 $5,996,899
KED Keypath Education 1.095 22% 4,567 $193,029,895
CTT Cettire 1.545 22% 2,790,003 $484,172,539
NES Nelson Resources. 0.0085 21% 12,123,302 $2,060,080
TIG Tigers Realm Coal 0.017 21% 2,875,680 $182,933,833
SGQ St George Min Ltd 0.051 21% 6,876,244 $29,400,748
NMR Native Mineral Res 0.145 21% 334,297 $6,036,807
HT8 Harris Technology Gl 0.018 20% 697,839 $4,474,432
SHH Shree Minerals Ltd 0.009 20% 3,402,860 $9,288,652
ICE Icetana Limited 0.06 20% 885,491 $9,966,421
AUK Aumake Limited 0.006 20% 112,479 $3,857,235
MIO Macarthur Minerals 0.155 19% 278,837 $21,534,953
AV1 Adveritas Ltd 0.095 19% 2,221,803 $35,608,680
Wordpress Table Plugin


The big Small Caps winner today was Way2VAT (ASX:W2V), cranking out a massive 44.0% lift on news that it’s signed on with a major new enterprise client, global fashion retailer Max Mara.

The deal is set to see Max MAra use Way2VAT’s automated accounts payable, corporate and travel expenses and VAT claim and recovery solutions – and, importantly, will see the fashionista become W2V’s largest client in Asia and join its global top-10 list as well.

The lengthy list of Little Diggers Doin’ Good from this morning dispersed a little as the day progressed, but Castillo Copper (ASX:CCZ) did best of that bunch with a 29.4% result for Monday.

Other noteworthy winners were St George Mining (ASX:SGQ), up 21.4%, Norwest Minerals (ASX:NWM) up a Richie Benaut-pleasing 22.22% and Tigers Realm Coal (ASX:TIG) up 21.4%.

Elsewhere, Toys’R’Us (ASX:TOY) lost some steam as the day wore on, dropping back from its 19.8% peak around lunchtime to finish a still-welcome 15.2% up on news that it’s going to be implanted into nine store-in-store (SIS) efforts through WH Smith retail outlets across the United Kingdom.



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
OXX Octanex Ltd 0.011 -42% 547,813 $4,920,576
MEB Medibio Limited 0.001 -33% 122,242 $4,980,891
DTI DTI Group Ltd 0.016 -27% 78,823 $9,868,131
BTR Brightstar Resources 0.015 -25% 1,518,881 $13,529,952
DEL Delorean Corporation 0.085 -23% 1,120,301 $23,729,301
BCC Beam Communications 0.19 -21% 338,597 $20,741,261
BFC Beston Global Ltd 0.031 -21% 6,387,668 $33,862,969
CMD Cassius Mining Ltd 0.028 -20% 844,955 $14,130,932
ICN Icon Energy Limited 0.012 -20% 868,573 $11,520,205
FLX Felix Group 0.12 -20% 13,660 $19,917,566
CT1 Constellation Tech 0.004 -20% 364,300 $7,356,002
M2M Mt Malcolm Mines NL 0.061 -19% 401,855 $4,670,700
MGT Magnetite Mines 0.0165 -18% 47,243,768 $75,835,491
ACU Acumentis Group Ltd 0.095 -17% 42,500 $20,161,506
AGR Aguia Res Ltd 0.05 -17% 6,313 $24,057,542
GLV Global Oil & Gas 0.0025 -17% 854,917 $5,620,064
RIM Rimfire Pacific 0.008 -16% 2,638,936 $17,159,325
FRM Farm Pride Foods 0.11 -15% 90,487 $7,173,423
BPH BPH Energy Ltd 0.0205 -15% 6,490,015 $20,713,529
ICR Intelicare Holdings 0.03 -14% 187,984 $4,216,321
IEC Intra Energy Corp 0.006 -14% 1,197,200 $4,240,471
VMC Venus Metals Cor Ltd 0.12 -14% 28,973 $22,411,016
MM8 Medallion Metals. 0.155 -14% 65,373 $25,191,911
A3D Aurora Labs Limited 0.033 -13% 525,093 $6,998,007
TSK Task Group Holdings 0.275 -13% 2,865 $111,762,571
Wordpress Table Plugin



As promised, it’s time to take a look into what’s been happening with Novonix, after the ASX sent the company a postcard (from Fiji, of all places!) looking for answers about who knew what was on the cards for NVX in relation to the massive US grant that was announced to the ASX on 20 October.

We ran short on time at the end of last week to go over this story, so here it is in Reader’s Digest form: The ASX wanted to know whether news of the grant had reached Novonix in advance of its announcement… because a $235 million windfall is a BFD in anyone’s books, and it most definitely market-moving news.

NVX wrote back on Friday 21 October, and said that yes – news of the grant was known in advance by the company, which had been informed of the grant “on 14 October 2022 at 12:56am (AEST) – but the US Department of Energy didn’t release the information to the public until 20 October 2022 at approximately 1:00am (AEST).

Now, a reasonable person would look at that and wonder how on earth news that big couldn’t possibly leak out – and, more importantly – with Novonix hadn’t broken the land speed record getting to the fax machine to tell the ASX.

Turns out, it had a very good reason not to: “The correspondence from the DOE stated that NVX was prohibited from disclosing its selection for negotiation of a financial award prior to the DOE making a public announcement about the matter. NVX was advised by DOE that “failure to abide by this requirement could result in forfeiture of the opportunity.”

And so, a reasonable person could understand why NVX wasn’t on the blower about it at the first available opportunity – because losing a $236 million windfall is arguable far worse than the onerous task of informing the ASX why it looks like the rules had been bent, if not broken.

We trust that clears that up for everyone.

Also from late mail on Friday but far too awesome not to mention, is the Exciting New Heights that have been scaled in the Font Size War of 2022.

A few weeks back, (on 05 October, to be precise) we brought you the story of Quantum Graphite (ASX:QGL) and Lincoln Minerals (ASX:LML) engaging in a war of Letters to the Shareholders using massive fonts to make sure they were getting their message across.

On Friday – late in the evening, I might add – it was Demetallica (ASX:DRM) fending off apparently unwanted advances from AIC Mines (ASX:A1M), after AIC sent off this startingly blunt letter that left readers with absolutely no query as to what was being asked of them:


ASX closing bell


I’m not sure if anyone else was taken in with the subliminal advertising clearly at work here, but it left me in a highly suggestible state for the entire weekend, and I am now the puzzled owner of several greyhounds.



BBX Minerals (ASX:BBX) – Mineral resource estimate

MGC Pharmaceuticals (ASX:MXC) – Analysis of results from recent clinical trial

European Lithium (ASX:EUR) – Proposed merger transaction

Skin Elements (ASX:SKN) – Placement

WA1 Resources (ASX:WA1) – Material exploration results

Ironbark Zinc (ASX:IBG) – Capital raising

Tulla Resources (ASX:TUL) – capital raising