Despite a hiccup on the first day of the month, the ASX appears to be on track towards starting off June with a bang with the All Ords up almost 1.3 per cent this week.
A good part of this optimism could stem from news that Australia’s economy has bounced back, with GDP growing 1.8 per cent in the March quarter, well above economist expectations of a 1.6 per cent gain.
In fact, Deloitte Access Economics said that Australia was just one of five countries that had a better economy than it had prior to the COVID-19 pandemic.
Just in case you’re curious, the others are China – hence why we are gaining despite their best efforts – Chile, Romania and Lithuania.
All that is good news for your super balance as companies continue to benefit from the bullish sentiment.
ASX SMALL CAP WINNERS
Iron Road (ASX:IRD) +84%
The prospect of secure and reliable power for Iron Road’s Central Eyre iron project proved to be attractive to punters who jumped on its stocks.
ElectraNet has started construction of a new, 270km, high voltage transmission line across the Eyre Peninsula that is expected to start transmitting power by the end of 2022.
Invion (ASX:IVX) +55%
The company noted earlier this week that it had entered into a co-development agreement with RMW Cho Group to develop Photosoft technology for the treatment of atherosclerosis and infectious diseases.
Under the agreement, Invion will gain exclusive distribution rights to the technology in the Asia Pacific region for these indications.
Last week, the company’s proof-of-concept testing on INV-043, which uses the Photosoft technology, found that it has greater anti-cancer activity, and better cancer-targeting characteristics than previous generations of APIs developed by Invion.
Actinogen Medical (ASX:ACW) +52%
Ethics committee approval was received for its clinical development program to treat patients with Alzheimer’s Disease.
The first part of the XanaMIA study is designed to study improvements in cognitive ability in older volunteers, and patients with Mild Cognitive Impairment (MCI), the first clinical stage of AD.
Here are the best performing ASX small cap stocks for May 28 – June 4 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price ReturnWRoll% MktCap$ CVS Cervantes Corp Ltd 0.009 145 $ 5,698,252.90 IRD Iron Road Ltd 0.35 84 $ 261,452,162.40 IVX Invion Ltd 0.017 55 $ 94,146,719.02 ACW Actinogen Medical 0.135 52 $ 215,872,611.11 CLZ Classic Min Ltd 0.0015 50 $ 20,110,632.18 PBX Pacific Bauxite Ltd 0.003 50 $ 1,189,842.10 EOF Ecofibre Limited 0.83 48 $ 252,351,822.98 PRM Prominence Energy NL 0.016 45 $ 9,072,866.79 PTX Prescient Ltd 0.15 43 $ 83,271,891.30 MTC Metalstech Ltd 0.235 42 $ 36,916,233.12 VAR Variscan Mines Ltd 0.082 41 $ 15,334,705.73 NUC Nuchev Limited 0.62 39 $ 21,798,604.80 AGE Alligator Energy 0.042 35 $ 101,665,475.68 SGI Stealth Global 0.115 34 $ 9,471,500.00 DM1 Desert Metals 0.855 34 $ 29,750,000.00 ECT Env Clean Tech Ltd. 0.002 33 $ 11,584,624.95 PCL Pancontinental Oil 0.002 33 $ 12,013,430.97 CAV Carnavale Resources 0.008 33 $ 19,041,842.42 CIO Connected Io Ltd 0.006 33 $ 3,731,557.63 LTR Liontown Resources 0.605 33 $ 991,414,939.65 QPM Queensland Pacific 0.145 32 $ 171,527,398.38 SOP Synertec Corporation 0.105 31 $ 31,447,729.39 LER Leaf Res Ltd 0.115 31 $ 97,538,043.27 IQ3 Iq3Corp Limited 0.15 30 $ 15,651,150.15 LSA Lachlan Star Ltd 0.035 30 $ 44,502,944.82 MHI Merchant House 0.09 29 $ 8,483,984.64 STK Strickland Metals 0.032 28 $ 22,792,828.55 ECG Ecargo Hldg 0.032 28 $ 19,688,000.00 MAN Mandrake Res Ltd 0.23 28 $ 87,287,787.84 DEV Devex Resources Ltd 0.465 27 $ 138,500,381.60 GES Genesis Resources 0.014 27 $ 10,959,778.12 POS Poseidon Nick Ltd 0.08 27 $ 216,324,943.60 VN8 Vonex Limited. 0.145 26 $ 28,004,353.59 CPH Creso Pharma Ltd 0.1825 26 $ 198,380,851.20 GO2 Thego2People 0.039 26 $ 14,464,294.65
ASX SMALL CAP LOSERS
Gas2Grid (ASX:GGX) -43%
The company shares dived this week after it was informed by the Philippines Department of Energy that it was terminating its Service Contract 44 without explaining how it arrived at the decision.
Gas2Grid said it will seek a reconsideration of that decision, noting that it had declared force majeure after the Philippines Government declared a state of calamity that prevented it from accessing the Nuevo Malolos-1 well site.
Here are the worst performing ASX small cap stocks for May 28 – June 4 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % 1 Week | MktCap$ |
|---|---|---|---|---|
| GGX | Gas2Grid Limited | 0.002 | -43 | $ 4,003,102.08 |
| MCX | Mariner Corp Ltd | 0.064 | -42 | $ 3,075,406.21 |
| BET | Betmakers Tech Group | 1.055 | -34 | $ 877,237,993.08 |
| CYQ | Cycliq Group Ltd | 0.001 | -33 | $ 6,450,339.18 |
| TOM | Tomizone Limited | 0.002 | -33 | $ 850,401.35 |
| VIC | Victory Mines Ltd | 0.002 | -33 | $ 13,920,631.93 |
| SWP | Swoop Holdings Ltd | 0.9 | -28 | $ 104,473,485.80 |
| GCY | Gascoyne Res Ltd | 0.45 | -27 | $ 135,463,389.12 |
| NXL | Nuix Limited | 2.62 | -26 | $ 853,576,795.86 |
| MLS | Metals Australia | 0.0015 | -25 | $ 8,454,376.09 |
| PCH | Property Connect | 0.0015 | -25 | $ 1,028,795.21 |
| QML | Qmines Limited | 0.36 | -25 | $ 18,433,506.40 |
| CRM | Carbon Minerals Ltd | 0.25 | -24 | $ 4,700,873.25 |
| OIL | Optiscan Imaging | 0.29 | -24 | $ 187,928,983.61 |
| ABX | Aust Bauxite Ltd. | 0.115 | -23 | $ 20,907,496.11 |
| TRM | Truscott Mining Corp | 0.027 | -23 | $ 3,697,421.69 |
| AYM | Australia United Min | 0.007 | -22 | $ 12,898,042.40 |
| CNB | Carnaby Resource Ltd | 0.36 | -22 | $ 41,870,701.14 |
| XAM | Xanadu Mines Ltd | 0.047 | -22 | $ 60,269,652.00 |
| CPV | Clearvue Technologie | 0.455 | -21 | $ 67,350,176.88 |
| SUV | Suvo Strategic | 0.19 | -21 | $ 81,336,956.55 |
| OSL | Oncosil Medical | 0.063 | -20 | $ 51,827,314.11 |
| ATU | Atrum Coal Ltd | 0.04 | -20 | $ 23,277,266.12 |
| AEV | Avenira Limited | 0.008 | -20 | $ 6,902,822.54 |
| OVT | Ovato Limited | 0.004 | -20 | $ 54,957,655.13 |
| VMG | VDM Group Limited | 0.002 | -20 | $ 17,319,152.38 |
| AEF | Australian Ethical | 7.58 | -20 | $ 846,275,149.14 |
| RTR | Rumble Res Limited | 0.4625 | -19 | $ 287,708,819.28 |
| GTE | Great Western Exp. | 0.13 | -19 | $ 19,067,728.54 |
| YFZ | Youfoodz | 0.445 | -18 | $ 61,891,835.28 |
| LRS | Latin Resources Ltd | 0.058 | -18 | $ 83,482,241.25 |
| TEM | Tempest Minerals | 0.019 | -17 | $ 5,435,826.12 |
| OPL | Opyl Limited | 0.215 | -17 | $ 11,692,857.78 |
| ICE | Icetana Limited | 9.1 | -17 | $ 9,242,381.25 |