Weekly ASX small cap wrap: Australian rocket fuel debuts as market rebounds

Australia’s space industry could be poised to take off after the government gave a shout-out to the launch of the first rocket powered by Australian-made fuel.

Queensland’s Black Sky Aerospace has successfully used its proprietary solid rocket fuel for a launch in outback Queensland earlier this month, a move that Minister for Industry, Science and Technology Karen Andrews says could provide the local space industry with its own reliable, onshore fuel manufacturing for the first time.

“It will boost the economy, and create new skilled jobs, as we rocket toward our goal of tripling the size of the local space sector to $12 billion and an extra 20,000 jobs by 2030,” she added.

This comes as the market bounced back from yesterday’s fall with small caps up 1.36 per cent to 3,127.6.

ASX SMALL CAP WINNERS

Redflex Holdings (ASX:RDF) +120%

The traffic management products supplier climbed this week after reporting that it had received $14.2m worth of new contract orders in the second quarter of the 2021 financial year, taking its total new business orders up to $33.9m.

It also had $2.5m of contract renewals in the quarter.

Hawkstone Mining (ASX:HWK) +89%

With the focus on renewable energy and electrification, Hawkstone’s announcement that it had achieved lithium recoveries of 90 per cent at its Big Sandy Project was well received by investors.

It is now developing an intellectual property development program focused on certain unit operations of the planned flow sheet, and optimisation of the planned interlocking steps of ore beneficiation, slurry pipeline transport and ore leaching.

Here are the best performing ASX small cap stocks for January 22 – January 29 [intraday]:

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ASX SMALL CAP LOSERS

Crowd Media Holdings (ASX:CM8) -26%

Shares in the social commerce business feel after chief executive Domenic Carosa tendered his resignation.

He will remain a non-executive director and substantial shareholder of the company.

Here are the worst performing ASX small cap stocks for January 22 – January 29 [intraday]:

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