Local stocks have had a turbulent week, with the ASX200 currently down 0.78% at the time of writing.

It comes as New South Wales introduced strict new restrictions on greater Sydney as COVID-19 infections continue to grow.

The Reserve Bank of Australia has also kept interest rates at record lows. The RBA said that while the economy is in better shape than it was over 12 months ago, inflation and wage outcomes remain subdued.

It is also reducing its bond buying program from $5bn a week to $4bn a week in September.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for July 2 – July 9 [intraday]:

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New Metals (ASX:NME) +108%

Bonanza gold grades of up to 1m grading 91.2 grams per tonne (g/t) at the Kookynie project proved popular with punters.

Operating partner Metalicity believes the tenure and extent of mineralisation uncovered by drilling to date bodes well for future resource estimates also added to the excitement.

Further assays from the drilling are pending.

Fertoz (ASX:FTZ) +94%

Organic phosphate development company Fertoz is accelerating development of its Carbon division, which will focus on carbon sequestration, consulting activities, trading and implementation of carbon strategies using its organic fertilisers.

To fund this push, the company has received support from sophisticated and professional investors for a placement of 33.3 million shares priced at 15c each to raise $5m.

Significantly, the placement price represents a discount of just 0.6% to the 15-day volume weighted average price of Fertoz’s shares.

Petratherm (ASX:PTR) +55%

Defining a new 2km by 800m gold anomaly at the Comet Ridge project in South Australia proved to be a winner for Petratherm.

The company will carry out infill sampling over the new prospective zone before carrying out follow-up drill testing.

Petratherm will use a portion of the $147,500 grant funding from the South Australian government to co-fund the infill sampling work.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for July 2 – July 9 [intraday]:

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Caspin Resources (ASX:CPN) -44%

Despite intersecting broad zones of anomalous sulphide-hosted platinum group elements at its Yarawindah Brook project, shares in Caspin were down 44% this week.

The company said the results validated its geological model and provided a clear target for follow-up exploration.