Weekly ASX small cap wrap: Who’s getting drunk this week?

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It would have been great if it were true, but unfortunately the World Health Organisation has outright stated that alcohol does not protect you against the COVID-19 virus, nor does it kill the virus either.

In fact, the global health body has warned that excessive consumption of alcohol can weaken the immune system and has urged governments to enforce measures that limit alcohol consumption.

While products made with 60 per cent of more alcohol can disinfect the skin, the same process doesn’t work inside the body.

The WHO’s warning comes as the Foundation of Alcohol Research and Education (FARE) released data showing that one in five Australians has purchased more alcohol than usual.

And they aren’t just stockpiling either.

FARE said its survey indicated that 70 per cent of those who bought more alcohol were also drinking more than usual, with a third saying they now drink daily.

Now, the WHO does not actually warn against drinking but rather excessive drinking, so a little tipple after dinner is still fine. Mostly.

ASX SMALL CAP WINNERS

Predictive Discovery (ASX:PDI) +1180%

Fancy making back more than 10 times your money? Well, that’s pretty much what you would have made if you invested in Predictive last week and sold out now.

The company’s stock sky-rocketed after it discovered a gold zone at least 450m long at its Kaninko gold project in Guinea with drilling returning a top intersection of 46m grading 6.58 grams per tonne (g/t) gold from just 4m that included a higher grade zone of 10m at 26.52g/t from 34m.

Reportable gold intercepts were obtained in 23 of the 24 holes received to date while a further 23 holes are pending.

Not bad for a project that was granted to Predictive in July 2019.

Nanoveu (ASX:NVU) +107%

Proving once again that addressing concerns about COVID-19 is one way to attract market attention, Nanovue posted gains after the company said it had made advancements in a nanotechnology application with antiviral properties.

This could be used as a protective layer on smartphone screens and cases, which are increasingly viewed as pathways for the spread of contagious diseases.

Here are the best performing ASX small cap stocks for April 9 – April 17 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

ASX SMALL CAP LOSERS

Liquefied Natural Gas Limited (ASX:LNG) -51%

While not the worst performer on our watchlist, Liquefied Natural Gas was nonetheless hammered by the market after announcing that Singapore’s LNG-9 was not proceeding with its takeover.

This comes after First Wall Street Capital failed to provide bridge financing to the company for ongoing marketing and development of its LNG projects, which LNG-9 said would cause certain conditions of its proposed takeover bid to be triggered or be incapable of being satisfied.

Here are the worst performing ASX small cap stocks for April 9 – April 17 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

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