Coming off the Easter break, local stocks were able to tread water for most of this week, before finally submerging on Friday.

Within sight of its new all-time high, the ASX 200 largely shrugged off lingering fears around interest rates and financial conditions.

But a recommitment from the US Fed on Thursday night to step on the gas when it comes to rate hikes proved too much for the XJO to handle.

US stocks got a fright, and that flowed through to Friday trade in Asia with most of the major regional indexes in the red.

By week’s end, the microcap Emerging Companies index was 2.3% lower while the ASX 200 fell by around 0.6%.

 

How did this week’s IPOs perform?

RLF AgTech (ASX:RLF)

The company raised $10m from investors at 20c per share, to advance the growth of its Plant Proton Delivery Technology (PPD Tech).

PPD Tech enables farmers “to grow higher yielding, better quality, and more nutritious produce, while massively reducing atmospheric carbon”, the company says.

Shares in RLF got off to a slow and steady start amid the broader market selloff on Friday, to close at 18.5c.

The Perth-based company joins the ASX with global growth plans, and is also take a partnership approach with the use of its technology as part of the adjacent market for carbon credits.

Osmond Resources (ASX:OSM)

The SA and Victoria-based explorer got off to a stronger start on Friday, trading at 25c after raising $5m from investors at 20c per share.

OSM has a number of projects on the go in SA, starting with the Yumbarra Project (nickel and mineral sands), along with the Fowler, Coorabie Shear Zone, and Tallacootra projects (nickel/copper and gold).

Those are accompanied by the Sandford project in Victoria which is prospective for gold and base metals (copper, lead, silver, and zinc), as well as ionic REE clays and heavy mineral sands.

The company will deploy the funds raised to kick off exploration activities across its suite of projects.

 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for April 19 – 22:

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As usual there were a number of outsized moves in small caps, but junior explorer Petratherm (ASX:PTR) stole the show with a massive jump on Wednesday.

PTR shares cooled off a bit into the end of the week, but the stock has held most of its gains after flagging a major rare earth discovery at the Comet Project within the Northern Grawler Craton of South Australia.

Shallow RAB drilling tested the top three metres of the prospective clay horizon where mineralisation encountered “impressive concentrations of high-value REEs”.

All 44 holes returned strong results with 23 holes hitting TREO > 1,000ppm, with PTR describing these intersections as similar in characteristics and grades to ion-absorption rare earth deposits of China – a major world supplier.

 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for April 11-14:

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