Weekly ASX small cap wrap: Who’s falling into a black hole this week?
Diversified industrials play AJ Lucas (ASX:AJL) posted the biggest weekly gain this week, climbing by almost 70 per cent after three straight days of double-digit percentage gains.
There were no major announcements from the company for traders to respond to, although on the previous Wednesday AJL told the market it had renegotiated the terms of a debt funding agreement with its Singapore-based financier.
It was also a good week for fintech company 8Common (ASX:ACO), which posted a 60 per cent weekly gain to 8 cents a share.
Shares in 8Common rose strong for the last three days of the week after the company released its quarterly 4C filing on Wednesday, which showed a 72 per cent increase in quarterly revenue to $955,000.
Junior explorer Argent Minerals (ASX:ARD) had a good week, rising by almost 60 per cent to 2.2 cents per share — its highest level since June last year.
It followed an announcement early last week that the company had commenced drilling at its Pine Ridge gold mine. After two days of heavy buying, Argent Minerals’s price cooled off in Friday trade and was down by around 13 per cent as at 2pm AEST.
And New World Cobalt (ASX:NWC) closed the week more than 50 per cent higher, after rocketing up by 75 per cent on Tuesday when it announced the acquisition of the Jones Hill VMS gold deposit in New Mexico, USA, along with 4,300 acres of prospective land next door.
Here are the best performing ASX small cap stocks for April 8-12 (prices as at 2pm Friday, eastern time).
It was a rough week for the minnows, as embattled 3D printing company 333D Limited (ASX:T3D) lost half its value to fall to 0.1 cents per share. The declines came on no news, although it’s not the first time 333D’s share price has fluctuated with big percentage gains beneath the one-cent mark.
And graphite play Metals Australia (ASX:MLS) also lost 50 per cent to fall to 0.1 cents, as it continues to lose momentum after hitting a recent high of 3.5 cents per share last November. The company completed a capital raise in March to finance development of its Lac Rainy project in Quebec, Canada.
Elsewhere, there were heavy percentage falls among the usual round of small-cap mining minnows. Of the 33 companies that posted a weekly loss of more than 20 per cent, just five of them had a market capitalisation of more than $10 million.
Here are the worst performing ASX small cap stocks for April 8-12 (prices as at 2pm Friday, eastern time).