Weekly ASX small cap wrap: Who’s throwing a bit of irony into the mix this week?

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In a deliciously ironic twist, the Russian Foreign Ministry has urged the US to “observe democratic standards” and respect Americans’ right to protest.

A Ministry spokeswoman said Moscow had taken note of the use of tear gas to disperse rallies sparked by the death of George Floyd while pointing out that numerous journalists — including Russian reporters — had been hurt while covering the protests.

Australian journalists have also been attacked by police outside the White House, prompting Prime Minister Scott Morrison to call for an investigation.

“It’s time for the US to drop the mentor’s tone and look in the mirror,” Russian spokeswoman Maria Zakharova added.

Adding just a little more irony to the statements, Russians are poised to vote on constitutional reforms that could allow President Vladimir Putin to remain in his position until 2036, or another 16 years.

We’ll leave you to digest that while examining the biggest small movers this week

ASX SMALL CAP WINNERS

Alderan Resources (ASX:AL8) +192%

Copper-gold explorer Alderan Resources is top of the pack this week as investors responded to its plan to complete exploration at its advanced projects in Utah.

The company has completed a share placement and issued convertible notes to professional and sophisticated investors to raise $2.1m to fund this effort.

It is earning up to 70 per cent of the copper-gold Valley-Crossroads and Detroit projects through an option agreement with Tamra Mining LLC and is also exploring the White Mountain gold project.

The projects have seen little modern exploration and have been underexplored for gold.

Fastbrick Robotics (ASX:FBR) +182%

Construction robotics pioneer Fastbrick nipped at Alderan’s heels after reporting earlier this week that its flagship Hadrian X H02 construction robot had recorded a new peak laying rate of over 200 blocks per hour, “representing a major milestone in the commercialisation journey”.

This is about 300 per cent faster than the rate the earlier H01 robot was achieving in February 2019 and makes its use even more compelling when measured against traditional manual bricklaying in most markets around the world.

Here are the best performing ASX small cap stocks for May 29 – June 5 [intraday]:

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

ASX SMALL CAP LOSERS

Kalium Lakes (ASX:KLL) -58%

Shares in the company dropped throughout the week with investors failing to be impressed by today’s announcement that development of its Beyondie sulphate of potash project was progressing in line with the updated timetable.

Specalist equipment fabrication and supply are on track with shipments from its German suppliers due to begin this month.

Here are the worst performing ASX small cap stocks for May 29 – June 5 [intraday]:

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

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