Weekly ASX small cap wrap: Who’s giving questionable advice now?

The COVID-19 pandemic has led governments around the world to issue health advice, put in place lockdown restrictions and other measures in a bid to check the spread of the virus.

However, the latest advice from Philippines president Rodrigo Duterte might just take the cake.

In an address to the country, the president — who is known for his controversial comments — said a vaccine for the coronavirus might be available as early as next year and that people should “try not to die” until it became available.

Questionable advice aside, here are the biggest small cap movers this week.

ASX SMALL CAP WINNERS

Anson Resources (ASX:ASN) +150%

Shares in the US-focused lithium explorer jumped after it released a positive preliminary economic assessment (PEA) for its Paradox brine project in Utah.

The assessment found that the stage one project could generate a pre-tax net present value (NPV) of $US575m ($890m) and internal rate of return (IRR) of 40 per cent. NPV and IRR are measures of how profitable a project is expected to be.

Anson is currently in a suspension pending an announcement “regarding additional information” in relation to its PEA.

DiscovEX Resources (ASX:DCX) +100%

Resampling of samples from DiscovEX’s maiden target definition drilling has confirmed the potential for a major new gold discovery in Western Australia’s southern Laverton District.

Panning of the intervals has produced fine grained visible gold, which the company reckons provides confidence that mineralisation is in-situ and potentially amenable to conventional processing.

Here are the best performing ASX small cap stocks for May 15 – May 22 [intraday]:

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CODE	NAME	RETURN %	PRICE THIS FRIDAY [INTRADAY]	MARKET CAP
AVW	AVIRA RESOURCES LTD	150	0.002	2.81M
ASN	ANSON RESOURCES LTD	114	0.047	30.55M
CLZ	CLASSIC MINERALS LTD	100	0.002	16.36M
RLC	REEDY LAGOON CORP LTD	100	0.004	1.61M
DCX	DISCOVEX RESOURCES LTD	100	0.007	6.75M
CAV	CARNAVALE RESOURCES LTD	100	0.004	5.98M
NAE	NEW AGE EXPLORATION LTD	100	0.006	5.33M
MGT	MAGNETITE MINES LTD	100	0.002	4.49M
ECT	ENVIRONMENTAL CLEAN TECHNOLO	100	0.002	19.20M
BMG	BMG RESOURCES LTD	100	0.004	2.34M
RNX	RENEGADE EXPLORATION LTD	100	0.004	2.85M
WOA	WIDE OPEN AGRICULTURE LTD	96	0.275	19.41M
KKO	KINETIKO ENERGY LTD	95	0.039	21.19M
YOJ	YOJEE LTD	92	0.050	49.17M
MPR	MPOWER GROUP LTD	92	0.023	3.65M
MXR	MAXIMUS RESOURCES LTD	83	0.055	2.71M
E25	ELEMENT 25 LTD	80	0.360	33.13M
BNL	BLUE STAR HELIUM LTD	80	0.009	6.60M
DRO	DRONESHIELD LTD	75	0.170	42.92M
RGL	RIVERSGOLD LTD	69	0.027	6.68M
MWR	MGM WIRELESS LTD	67	0.150	21.26M
MCT	METALICITY LTD	67	0.005	5.07M
ADY	ADMIRALTY RESOURCES NL	67	0.010	11.59M
PGI	PANTERRA GOLD LTD	64	0.046	8.98M
EMP	EMPEROR ENERGY LTD	61	0.029	2.37M
AX8	ACCELERATE RESOURCES LTD	59	0.035	2.78M
ATX	AMPLIA THERAPEUTICS LTD	57	0.130	8.64M
BLU	BLUE ENERGY LTD	53	0.026	34.50M
TNR	TORIAN RESOURCES LTD	53	0.026	11.58M
MGV	MUSGRAVE MINERALS LTD	52	0.175	81.04M
ARC	AUSTRALIAN RURAL CAPITAL LTD	50	0.300	3.88M
KIN	KIN MINING NL	50	0.120	75.56M
TKL	TRAKA RESOURCES LTD	50	0.006	2.40M
ICG	INCA MINERALS LTD	50	0.002	6.09M
ROG	RED SKY ENERGY LTD	50	0.002	2.44M
POW	PROTEAN ENERGY LTD	50	0.006	1.87M
DLC	DELECTA LTD	50	0.006	4.18M
XST	XSTATE RESOURCES LTD	50	0.002	2.14M
SBR	SABRE RESOURCES LTD	50	0.003	2.57M
VAL	VALOR RESOURCES LTD	50	0.002	2.88M
PCL	PANCONTINENTAL OIL & GAS NL	50	0.002	8.11M
CCE	CARNEGIE CLEAN ENERGY LTD	50	0.002	16.71M
VIC	VICTORY MINES LTD	50	0.002	4.70M
TPD	TALON PETROLEUM LTD	50	0.002	2.67M
LMG	LATROBE MAGNESIUM LTD	50	0.009	11.67M
REE	RAREX LTD	48	0.037	11.55M
TMT	TECHNOLOGY METALS AUSTRALIA	46	0.175	18.92M
HCD	HYDROCARBON DYNAMICS LTD	44	0.026	8.97M
QHL	QUICKSTEP HOLDINGS LTD	44	0.105	74.91M
MAU	MAGNETIC RESOURCES NL	44	1.150	242.39M
SE1	SENSERA LTD	44	0.023	7.41M
TKM	TREK METALS LTD	43	0.020	1.10M
SVY	STAVELY MINERALS LTD	43	0.635	135.76M
HZN	HORIZON OIL LTD	42	0.078	101.55M
IXR	IONIC RARE EARTHS LTD	42	0.009	18.37M

ASX SMALL CAP LOSERS

Flamingo Ai (ASX:FGO) -33%

Flamingo Ai has entered into an exclusive, binding terms sheet to sell all its assets to avoid the need to raise capital to sustain its cash burn.

The company has started the process to look for assets to acquire.

Here are the worst performing ASX small cap stocks for May 15 – May 22 [intraday]:

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CODE	NAME	RETURN %	PRICE THIS FRIDAY [INTRADAY]	MARKET CAP
TTB	TOTAL BRAIN LTD	-17	0.425	46.03M
FZR	FITZROY RIVER CORP LTD	-17	0.150	12.95M
HNR	HANNANS LTD	-17	0.005	9.94M
BIQ	BUILDINGIQ INC-CDI	-17	0.005	1.87M
MTH	MITHRIL RESOURCES LTD	-17	0.010	9.01M
DRE	DREADNOUGHT RESOURCES LTD	-17	0.005	8.83M
CE1	CALIMA ENERGY LTD	-17	0.005	10.78M
ADX	ADX ENERGY LTD	-17	0.005	8.55M
CAF	CENTREPOINT ALLIANCE LTD	-18	0.081	11.69M
LPD	LEPIDICO LTD	-19	0.007	33.71M
AU1	AGENCY GROUP AUSTRALIA LTD	-20	0.032	9.57M
OAR	OAKDALERESOURCES LTD	-20	0.002	1.40M
TIN	TNT MINES LTD	-20	0.160	4.96M
CFO	CFOAM LTD	-20	0.035	6.73M
TPS	THREAT PROTECT AUSTRALIA LTD	-22	0.049	11.81M
SVA	SIMAVITA LTD-CDI	-23	0.017	9.58M
RGI	ROTO-GRO INTERNATIONAL LTD	-23	0.050	7.45M
SGO	STREAM GROUP LTD	-23	0.020	4.39M
DXN	DXN LTD	-23	0.010	10.51M
TON	TRITON MINERALS LTD	-24	0.042	47.65M
BLV	BLOSSOMVALE HOLDINGS LTD	-25	0.120	7.37M
MGU	MAGNUM MINING AND EXPLORATIO	-25	0.030	9.14M
PKD	PARKD LTD	-25	0.030	2.25M
KTE	K2 ENERGY LTD	-25	0.012	3.61M
XPE	XPED LTD	-25	0.0015	2.66M
PNN	PEPINNINI LITHIUM LTD	-25	0.0015	2.25M
ADV	ARDIDEN LTD	-25	0.003	5.37M
PWN	PARKWAY MINERALS NL	-25	0.006	10.30M
CXM	CENTREX METALS LTD	-26	0.026	8.21M
MAR	MALACHITE RESOURCES LTD	-27	0.045	3.06M
FGO	FLAMINGO AI LTD	-33	0.001	1.12M
IVT	INVENTIS LTD	-40	0.003	2.81M
GTE	GREAT WESTERN EXPLORATION LT	-50	0.001	1.25M
VPR	VOLT POWER GROUP LTD	-50	0.001	8.99M