Weekly ASX Small Cap Wrap: Who’s ready for a bubble this week?
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This week was the 1 year anniversary of the end of the COVID-19 crash.
Debates goes on — is this a bubble? Is everything about to crash? Again?
Speaking of bubbles, it appears a trans-Tasman bubble is finally happening. This week the Kiwis revealed…that will reveal the details after Easter.
If you’re that desperate for some sort of overseas travel here’s a travel tip – Norfolk Island. While it is an Australian territory flights actually depart and leave from the international terminals in Australia.
Tourism in Norfolk Island has picked up dramatically in the past few weeks as Australians revel in the opportunity to take what is effectively an overseas holiday. #TimesNews #FijiNews #RegionalNews #RNZ https://t.co/Gsjrzl4QfN
— The Fiji Times (@fijitimes) March 18, 2021
IDT Australia (ASX:IDT) +124%
This time last week, the pharmaceutical manufacturer released a three-paragraph announcement in which it said was looking to see if it could help in the COVID-19 vaccination roll out.
Specifically it said was undertaking a feasibility assessment to see if its manufacturing facility could help.
Shares have been on a tear ever since the announcement – which came just as the next phase of the COVID-19 vaccination rollout gets underway.
Lefroy’s Burns prospect appears the best candidate of being 2021’s major discovery with shares having gained 5 times since a major gold intercept a few weeks back.
Today the company gave another exploration update in which it noted six pre-collars had been completed in preparation for a subsequent diamond drill program to evaluate the Eastern Porphyry at Burns. It is expecting assay results in mid-April.
The Irish domiciled telehealth stock has surged from 7 cents to well over 30 cents today and this week it got 2 good pieces of news.
First it has been offered an investment by research group StocksDigital – a move shareholders will vote on come April 15 – and second it was awarded ISO 27001 certification.
Nanoveu (ASX:NVU) +46%
The anti-viral tech company signed a deal with global beverage company Nestle.
The deal will see Nanoveu’s anti-viral protector on touchscreens and touchpads on Nestle’s coffee machines.
The dairy processing company recommenced trading after a 9 month suspension. The company had discovered accounting irregularities which resulted in an exodus of senior staff and directors and required the company to recapitalise.
Its major shareholder, the family investment company of Tony Perich and his family, stumped up the cash but shareholders rushed for the exits.
Atrum Coal (ASX:ATU) -78%
Coal mining in the Canadian province of Alberta is under threat. The government has decided to reinstate a previously rescinded policy that substantially restricts coal mining. In the interim all future exploration approvals on “Category 2 lands” will be banned.
Atrum has opted to pause works at its Elan Project to direct efforts to a stakeholder consultation process being undertaken by the government.