The Australian market is set to close the week down thanks to a big fall yesterday that was brought about by concerns around China’s property market.

Thankfully for the global market, a container ship that ran aground in the Suez Canal yesterday was quickly refloated after causing a mild delay for four other vessels.

Earlier this year, the grounding of Evergreen’s Ever Given container ship blocked traffic on the vital trade route for almost a week, sending jitters through global markets.

Meanwhile, Santos and Oil Search are proceeding with their merger with the latter’s shareholders to vote on the scheme that will create a $21bn oil and gas major.

The benchmark ASX200 is currently down 1.91% to 7,379.1 points.
 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for September 3 – September 10 [intraday]:

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Code Company Price ReturnWRoll% MktCap$
VIA Viagold Rare Earth 0.14 233 $ 11,663,736.56
EFE Eastern Iron 0.029 123 $ 19,384,150.86
NPM Newpeak Metals 0.002 100 $ 13,654,870.31
WOO Wooboard Tech Ltd 0.002 100 $ 7,644,325.48
NWE Norwest Energy NL 0.017 89 $ 87,411,551.65
BNR Bulletin Res Ltd 0.11 77 $ 12,191,929.03
NXM Nexus Minerals Ltd 0.265 77 $ 54,934,125.98
BMR Ballymore Resources 0.34 70 $ 22,872,985.92
EME Energy Metals Ltd 0.325 67 $ 66,050,243.28
92E 92Energy 0.51 65 $ 19,695,000.50
KEY KEY Petroleum 0.004 60 $ 7,871,712.50
A1G African Gold Ltd. 0.31 59 $ 31,992,745.40
GGE Grand Gulf Energy 0.027 59 $ 9,977,486.43
VAL Valor Resources Ltd 0.017 55 $ 47,181,302.69
HNR Hannans Ltd 0.0105 50 $ 23,599,771.92
DLC Delecta Limited 0.009 50 $ 9,077,590.85
PBX Pacific Bauxite Ltd 0.003 50 $ 1,189,842.10
POW Protean Energy Ltd 0.012 50 $ 7,807,355.56
PCL Pancontinental Oil 0.0015 50 $ 10,551,334.22
RAP Resapp Health Ltd 0.071 48 $ 49,833,430.47
GES Genesis Resources 0.016 45 $ 12,525,460.70
AGE Alligator Energy 0.056 44 $ 150,312,977.69
CHL Camplifyholdings 2.75 43 $ 76,911,547.80
BMG BMG Resources Ltd 0.085 42 $ 23,359,391.03
EMP Emperor Energy Ltd 0.058 41 $ 8,777,701.76
GLA Gladiator Resources 0.036 38 $ 15,572,196.64
A8G Australasian Gold 0.29 38 $ 9,580,258.19
PDN Paladin Energy Ltd 0.86 37 $ 2,182,558,711.44
ENR Encounter Resources 0.25 35 $ 75,901,565.52
LAM Laramide Res Ltd 0.74 35 $ 876,415.30

Eastern Iron (ASX:EFE) +123%

Reaching a memorandum of understanding with China’s Ya Hua International Investment and Development to form a strategic partnership to acquire and develop lithium projects was the magic ingredient that sent its shares soaring this week.

Under the MoU, the two companies will work together to develop the Trigg Hill lithium-tantalum project.

They will also form a joint venture to acquire and develop further lithium projects.

Ya Hua is a wholly owned subsidiary of Sichuan Yahua Industrial Group, one of China’s largest lithium hydroxide and lithium carbonate producers.

Newpeak Metals (ASX:NPM) +100%

Newpeak’s shares rose this week as it noted that it is planning to start the next phase of drilling at its Las Openas gold project in Argentina that is aimed at discovering and defining a precious metals system.

During September, additional surface exploration is scheduled to be undertaken in support of drill preparation.

Detailed geological mapping and sampling will then be carried out on two chargeability zones (Northern Zone and Southern Zone) at the Belleza Target.

It added that Satulinmäki drilling at the Finland gold project is progressing well with two holes completed and the third in progress.

Norwest Energy (ASX:NWE) +89%

Shares in Norwest soared after its partner Mineral Resources (ASX:MIN) announced that its Lockyer Deep-1 in the Perth Basin has discovered gas in the target Kingia Sandstone.

Gas was also observed throughout the Irwin River Coal Measures with gas potential identified in the High Cliff Sandstone.
 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for September 3 – September 10 [intraday]:

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Code Company Price % 1 Week MktCap$
TTA TTA Holdings Ltd 0.04 -34 $ 5,496,936.40
TOM Tomizone Limited 0.002 -33 $ 850,401.35
CCE Carnegie Cln Energy 0.002 -33 $ 44,707,721.13
IQ3 Iq3Corp Limited 0.11 -27 $ 11,999,215.12
S2R S2 Resources 0.1 -26 $ 35,281,110.65
PCH Property Connect 0.0015 -25 $ 1,028,795.21
MLS Metals Australia 0.0015 -25 $ 8,454,376.09
OEX Oilex Ltd 0.003 -25 $ 17,065,291.07
MDR Medadvisor Limited 0.24 -25 $ 94,351,825.25
ATU Atrum Coal Ltd 0.037 -24 $ 24,908,840.74
SMN Structural Monitor. 0.66 -23 $ 81,608,535.95
SRJ SRJ Technologies 0.215 -23 $ 15,909,819.40
CYQ Cycliq Group Ltd 0.02 -23 $ 7,297,849.82
FFC Farmaforce Ltd 0.051 -23 $ 6,664,729.98
LIN Lindian Resources 0.0215 -20 $ 14,958,715.42
JXT Jaxstaltd 0.067 -20 $ 20,160,998.81
KNI Kunikolimited 2.36 -20 $ 86,676,613.76
RXH Rewardle Holding Ltd 0.013 -19 $ 6,842,179.34
OPL Opyl Limited 0.13 -19 $ 7,613,953.90
FYI FYI Resources Ltd 0.71 -18 $ 249,654,826.14
RWD Reward Minerals Ltd 0.135 -18 $ 26,352,363.15
EYE Nova EYE Medical Ltd 0.37 -18 $ 53,854,902.67
ACP Audalia Res Ltd 0.014 -18 $ 8,305,634.29
AUN Aurumin 0.19 -17 $ 10,210,185.36
BFC Beston Global Ltd 0.077 -17 $ 66,512,554.42
88E 88 Energy Ltd 0.029 -17 $ 406,336,428.81
RMI Resource Mining Corp 0.015 -17 $ 4,888,411.23
PUR Pursuit Minerals 0.0475 -17 $ 44,496,667.97
AZS Azure Minerals 0.35 -17 $ 108,232,502.35
ARR American Rare Earths 0.15 -17 $ 55,169,332.16
RBR RBR Group Ltd 0.005 -17 $ 6,409,900.43
EPX Ept Global Limited 0.15 -17 $ 17,427,294.00

S2 Resources (ASX:S2R) -26%

Shares in S2 Resources were down this week. The company had reported on Thursday that two diamond holes targeting the Ruopas Isovaara target had intersected several thin zones of semi-massive iron sulphides and trace copper sulphides.