Weekly ASX small cap wrap: Who’s in the pits this week?
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Here are this week’s small cap winners and losers, but first — Facebook’s Mark Zuckerberg is probably getting his pits blow-dried by some unlucky intern before big speaking engagements “to eliminate anxiety sweat”.
Those loose units over at Twitter HQ weighed in:
— Nick Pacilio (@NickPacilio) February 18, 2020
“I doubt this is true,” a Facebook spokesperson told Business Insider.
“If so, it would have been at our communications team’s request, but surely anyone who has ever worn a grey T-shirt can relate.”
But the real news is the fact that Zuckerberg, a suspected robot, can sweat in the first place.
NSX (ASX:NSX) +75%
Market Cap: ~$40.8m
iSignthis has been suspended from trading on the ASX since October as the exchange continues its investigation into the company’s disclosure practices.
Market Cap: $64.5m
Seeing hand sanitiser makers like Zoono (ASX:ZNO) apparently raking in the bucks from virus-afeared punters, juice maker Food Revolution pivoted to germ fighting. A great move, it turns out.
The company is currently patching together a hand sanitiser production line to fill an initial order worth $2m – which the company believes will be “the first of many”.
METALSTECH (ASX:MTC) +49%
Former battery metals microcap MetalsTech recorded the biggest one-day gain for an ASX stock in 2019 after announcing that it had signed an option agreement to acquire a 1.1-million-ounce gold project in Slovakia.
But Slovakia has banned a widely used cyanide-based gold recovery process.
MetalsTech now reckons the thiosulphate process developed by its partner Clean Earth Technologies is an attractive, safe alternative to cyanide.
“Through our partnership with Clean Earth Technologies we intend to investigate how their proprietary cyanide-free processing technology can assist us in developing a sustainable mining operation within the legislative framework of Slovakia,” the company says.
Market Cap: $13.5m
Norwest’s very first reverse circulation drilling campaign at the new (for them) Bulgera project returned grades up to 29.3 grams per tonne (g/t) below and along strike of the old open pits – which indicates that historic mining barely scratched the surface.
Drilling intersected gold in 42 of the 46 holes drilled down-dip of the Bulgera and Mercuri pits. All were within 120m of surface, the company says.
Norwest is now planning a follow-up drill program to chase this gold even deeper and further along strike.
Market Cap: $55m
Another small cap winner from the coronavirus outbreak. Shares in the company surged after it announced a distribution strategy to meet demand for sanitation products in China.
Eagle Health said it had established a “co-branding” arrangement with Zoono — clearly one of the biggest winners from this crisis so far — whereby it will import Zoono products to its facility in Xiamen, China.
Market Cap: $284m
How far the mighty have fallen.
Ten years ago, this former media titan was worth +$7 a share. It now sells for around 19c.
Seven, battling a tough advertising market and weak ratings, plummeted another 27 per cent this week after reporting a hefty $67m loss on total revenue of ~$770m.