Top 10 at 11: ASX dips again as small caps reach for the cheque book
The ASX is hovering just under neutral territory yet again this morning, while small cap stocks look to drum up fresh capital. Pic: Getty Images.
Morning, and welcome to Stockhead’s Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.
With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
Gold stocks prop up ASX
The ASX is moving lower again today, down about 11 points or 0.13% in the first hour of trade.
Things are looking a little less rosy than yesterday, with eight of 11 sectors down and only materials putting in any kind of real showing (+1.05%).
Most of that strength is still coming from our gold stocks, which are enjoying a strong gold price. The ASX All Ord Gold is up 1.68% and the ASX 200 Resources has climbed 0.86%.
Info tech is at the bottom of the pack, down 0.82% with healthcare not far behind (-0.77%).
SMALL CAP WINNERS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| LMLR | Lincoln Minerals | 0.004 | 100% | 12 | $624,734 |
| AFA | ASF Group Limited | 0.004 | 33% | 30000 | $2,377,193 |
| MRQ | Mrg Metals Limited | 0.004 | 33% | 87500 | $8,179,556 |
| WCE | Westcoastsilver Ltd | 0.17 | 21% | 5294872 | $44,479,664 |
| CRR | Critical Resources | 0.006 | 20% | 840000 | $13,850,427 |
| JAV | Javelin Minerals Ltd | 0.003 | 20% | 800000 | $15,630,562 |
| LIO | Lion Energy Limited | 0.012 | 20% | 14000 | $4,521,677 |
| RAN | Range International | 0.003 | 20% | 2000000 | $2,348,226 |
| TMX | Terrain Minerals | 0.003 | 20% | 2745666 | $6,329,536 |
| SRJ | SRJ Technologies | 0.007 | 17% | 3102095 | $4,168,480 |
In the news…
SRJ Technologies (ASX:SRJ) is moving higher after launching a fully underwritten entitlement offer to raise $2.53 million at A$0.004 for each CDI.
SRJ recently restructured its engineering business with a new focus on the United Arab Emirates. The funding will support a proposed acquisition, joint venture contract(s) and restructuring operations to that end, with an emphasis on establishing long-term contracts.
SMALL CAP LAGGARDS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| SHP | South Harz Potash | 0.002 | -33% | 1233333 | $4,415,170 |
| TYX | Tyranna Res Ltd | 0.003 | -25% | 1000000 | $13,368,619 |
| SPQ | Superior Resources | 0.004 | -20% | 234061 | $11,854,914 |
| TKL | Traka Resources | 0.002 | -20% | 380000 | $5,314,476 |
| NMT | Neometals Ltd | 0.053 | -17% | 1860956 | $49,311,459 |
| 1AI | Algorae Pharma | 0.005 | -17% | 251243 | $10,124,368 |
| ADG | Adelong Gold Limited | 0.005 | -17% | 6117601 | $13,492,060 |
| FBR | FBR Ltd | 0.005 | -17% | 12682167 | $34,136,713 |
| X2M | X2M Connect Limited | 0.016 | -16% | 635236 | $8,266,080 |
| LU7 | Lithium Universe Ltd | 0.006 | -14% | 110000 | $6,551,857 |
In the news…
FBR (ASX:FBR) shares are sliding after the company entered into a $20m share subscription facility with GEM Global Yield LLC and launched a $1m placement at $0.0045 per share, a 25% discount to the company’s last closing price.
The fresh funding will go to development of the Hadrian X robot among several other work streams. FBR’s bricklaying robot is designed to build structural walls more efficiently than traditional manual methods.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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