Weekly Small Cap and IPO Wrap: Small Caps are up over 5pc this week so here’s a kitten, you deserve it
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Global equity markets rallied this week with the Dow Jones Industrial Average up 6% and the techno-boosted Nasdaq finding 7%.
Closer to home, Japanese indices rallied about 4%, while Chinese stocks are down slightly, by about 0.3% on average.
The S&P/ASX Emerging Companies (XEC) index is 5.3% stronger and the ASX 200 has eked out 2.2% for the week.
The market boosters switched on after a few weeks of solid declines – and the advice from overnight experts captures the uncertainty.
On the one hand BlackRock CEO Larry Fink told investors America’s economic woes are entirely fixable so investors can afford to relax a bit. Stop panicking about inflation, the BlackRock CEO told CNBC: “We’re going to get through this.”
Earlier in the week, Goldman Sachs CEO David Solomon said that actually, everyone, inflation is “deeply entrenched” in the global economy. And Goldman is playing it cautious, he said, while it remains unclear whether the situation will improve later this year.
So the buy-in this week just throws up more questions about whether we’ve struck the bottom, or if this is all just dead cats and high buildings.
Diana Mousina, senior economist at AMP Investments, says the latest inflation data hasn’t moved AMP’s dial.
“Our view has not changed – we think the risk is of more downside to equities until there are clearer signs that inflation has peaked (which means central banks can pause on rate hikes) and until economic data troughs (but hopefully avoids a recession). On a 6-12 month view, we are more optimistic on shares as inflation recedes, central banks stop raising interest rates (and maybe even cut rates) and a deep recession is avoided.”
The US 2/10-year bond spread remained like an upside down boat inverted this week.
European bond yields were a tad higher because of a wee spot of old school Italian political mayhem – Italian 10-year yields are up to 3.5% from 3.2% at the start of the week.
After three key parties in Italian Parliament cast a “no confidence” vote over the government, Italian Prime Minister Mario Draghi resigned which means that an election will occur, on 25 September.
Italy likes political turmoil, so we’re not losing sleep. Over the last 160 years of Italian history there’s been some 132 governments. And Silvio Berlusconi had most of them.
Monday IPO: $8.5m at $0.20
The explorer listed Monday and made some fantastic gains across several sessions. SGA has its eyes on the Sarytogan Graphite Project in Central Kazakhstan where drilling kicked off late last month.
Kazakhstan, aside from being a great place to take the missus for a quick lap around the Urals, is also an established mining jurisdiction right in the middle of the largest battery manufacturers in Europe and China.
The project already has a mineral resource of 209 Mt at 28.5% total graphitic carbon (TGC) for 60Mt contained. And while I’m not going to read the presentation, I will leave you keen beans a link. The project already has a mineral resource of 209Mt at 28.5% total graphitic carbon (TGC) for 60Mt contained graphite.
Here are the best performing ASX small cap stocks for July 18 – July 22:
Swipe or scroll to reveal full table. Click headings to sort:
Code | Company | Price | % | Market Cap |
---|---|---|---|---|
VPR | Volt Power Group | 0.003 | 100% | $14,016,800 |
WBE | Whitebark Energy | 0.002 | 100% | $5,648,219 |
EVE | EVE Health Group Ltd | 0.0015 | 50% | $5,050,483 |
MEB | Medibio Limited | 0.0015 | 50% | $2,756,490 |
PRM | Prominence Energy | 0.003 | 50% | $4,849,218 |
T3D | 333D Limited | 0.0015 | 50% | $3,034,297 |
SIT | Site Group Int Ltd | 0.004 | 33% | $2,523,735 |
DOU | Douugh Limited | 0.037 | 32% | $16,655,920 |
SZL | Sezzle Inc. | 0.315 | 26% | $50,202,207 |
BTE | Botala Energy | 0.175 | 21% | $7,563,200 |
ABE | Ausbondexchange | 0.3 | 20% | $8,719,046 |
FRM | Farm Pride Foods | 0.18 | 20% | $8,277,026 |
HMG | Hamelin Gold | 0.12 | 20% | $11,000,000 |
GLV | Global Oil & Gas | 0.003 | 20% | $4,683,387 |
4DX | 4Dmedical Limited | 0.62 | 19% | $108,656,997 |
EVZ | EVZ Limited | 0.195 | 18% | $19,824,076 |
TYX | Tyranna Res Ltd | 0.021 | 17% | $27,582,492 |
WMG | Western Mines | 0.175 | 17% | $5,494,875 |
X2M | X2M Connect Limited | 0.14 | 17% | $11,300,769 |
TTB | Total Brain Ltd | 0.05 | 16% | $5,750,009 |
IOU | Ioupay Limited | 0.094 | 16% | $44,874,977 |
GBE | Globe Metals &Mining | 0.096 | 16% | $38,671,557 |
ZIP | ZIP Co Ltd.. | 0.895 | 15% | $533,150,447 |
M2R | Miramar | 0.1 | 15% | $5,584,240 |
Victory Goldfields (ASX:1VG) made a super Rare Earth Elements (REE) discovery this week including critical Heavy Rare Earth Elements (HRE) from follow-up assays at its 100% owned Mafeking and North Stanmore project in WA.
The stock jumped into the ionosphere this week, after word spread on Wednesday morning of the latest results from follow up assays that initially reported ‘significant’ anomalous values of yttrium at the project in the Cue goldfields, about 650km due northeast of Perth.
Fusion-ICPMS assays from 25 air-core 4m composite samples report high concentrations of Total Rare Earth Oxides (TREO) that exhibit a high ratio of Heavy Rare Earth Oxides (HREO) and golg:
1VG says the results indicate a High HREO/TREO ratio of 40% with reported magnet REOs (Pr), (Nd), (Tb), and (Dy) totalling 24.6%.
A delighted executive director Brendan Clark described the discoveries as a significant moment for Victory and its shareholders.
Here are the best performing ASX small cap stocks for July 18 – July 22:
Swipe or scroll to reveal full table. Click headings to sort:
Code | Company | Price | % | Market Cap |
---|---|---|---|---|
ANL | Amani Gold Ltd | 0.001 | -33% | $35,540,162 |
AFW | Applyflow Limited | 0.0015 | -25% | $5,915,216 |
CLE | Cyclone Metals | 0.003 | -25% | $24,416,948 |
CFO | Cfoam Limited | 0.004 | -20% | $3,669,203 |
MGG | Mogul Games Grp Ltd | 0.002 | -20% | $8,154,150 |
XST | Xstate Resources | 0.002 | -20% | $8,037,954 |
DME | Dome Gold Mines Ltd | 0.2 | -18% | $85,775,513 |
SCT | Scout Security Ltd | 0.04 | -17% | $7,362,943 |
JRV | Jervois Global Ltd | 0.4525 | -15% | $813,066,764 |
LSR | Lodestar Minerals | 0.006 | -14% | $12,169,061 |
CVR | Cavalier Resources | 0.155 | -14% | $5,470,029 |
MDI | Middle Island Res | 0.105 | -13% | $14,690,187 |
MRL | Mayur Resources Ltd | 0.075 | -12% | $20,531,211 |
RNO | Rhinomed Ltd | 0.16 | -11% | $51,429,545 |
PNX | PNX Metals Limited | 0.004 | -11% | $19,998,260 |
HOR | Horseshoe Metals Ltd | 0.025 | -11% | $15,454,401 |
GCX | GCX Metals Limited | 0.051 | -11% | $10,589,386 |
T3K | Tek Ocean Group | 0.18 | -10% | $6,546,900 |
AD1 | AD1 Holdings Limited | 0.018 | -10% | $13,516,287 |
ADR | Adherium Ltd | 0.009 | -10% | $22,082,511 |
DCX | Discovex Res Ltd | 0.0045 | -10% | $15,024,305 |
WML | Woomera Mining Ltd | 0.0145 | -9% | $10,989,329 |
AX1 | Accent Group Ltd | 1.375 | -9% | $820,928,073 |
CV1 | Cv Check Ltd | 0.1 | -9% | $47,765,561 |
PH2DD | Pure Hydrogen Corp | 0.28 | -9% | $105,204,088 |