How many oceans are there? Five right? Well turns out National Geographic Society has only just recognised the Southern Ocean as the world’s fifth ocean.

They could have just asked as this something that has long been recognised in Australia.

While we wait for the rest of the world (ok fine National Geographic) to get its bearings, it is clear that local markets are still steering ahead with the All Ords up this week despite a bit of a roller-coaster ride.

ASX SMALL CAP WINNERS

Coda Minerals (ASX:COD) +224%, Torrens Mining (ASX:TRN) +77%

Both companies are enjoying investor interest this week after drilling returned 200m of intense IOCG alteration, including ~50m of copper sulphides at the ‘Elizabeth Creek’ project in South Australia.

Coda chairman Keith Jones said the drilling supports the company’s long-held belief that it is operating in elephant country thanks to the world class projects that surround the projects as well as historical and geophysical evidence of an IOCG system in the northern part of its tenure.

Drilling is also underway at the overlying Emmie Bluff copper-cobalt deposit with the expectation of delivering a maiden resource in the third quarter of this year.

Cogstate (ASX:CGS) +52%

Cogstate has indirectly benefitted from the US Food and Drug Administration approving Biogen’s Alzheimer’s drug Aduhelm, the first such approval since 2003.

Cogstate is partnered with a Japanese pharmaceutical company Eisai, which has exclusive rights to develop and distribute Cogstate’s digital cognitive assessment technologies and is also partnered with Biogen.

The company told shareholders that “digital cognitive assessments will play an important role in supporting the types of large-scale cognitive assessment that will be necessary in the launch of disease modifying therapies such as Aduhelm”.

Classic Minerals (ASX:CLZ) +50%

Securing approval from the Western Australian Department of Mines, Industry Regulation and Safety to mine a bulk sample has placed Classic a step closer towards gold production at its Kat Gap project.

The sample is expected to expose between 3000 and 5000 tonnes of ore at 4-6 grams per tonne gold for 350-1000 contained ounces.

This will assist in the calibration of mining and metallurgy parameters at Kat Gap.

Here are the best performing ASX small cap stocks for May 28 – June 4 [intraday]:

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ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for May 28 – June 4 [intraday]:

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