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The Friday session isn’t without a few jitters, with the ASX 200 slipping further into the red for a fall of around 0.5% in afternoon trade.
But all in all, risk appetite prevailed and local stocks are on track to snap a four-week losing streak with a weekly gain of +1%.
The mood was buoyant across global markets as concerns eased that Omicron will wreck the reopening trade.
But stock investors still have to digest the marquee data event of the week — US inflation later tonight.
Markets know the annual number will be high, but if November CPI runs hot and the annual figure jumps above 7%, that could prompt a market response.
There was plenty of action to start the week, with three listings on Monday that had mixed results on their entry to listed life.
Copper and gold explorer Larvotto Resources (ASX:LRV) listed following a $6 million IPO at $0.20 per share.
The company has a trans-tasman project portfolio comprising the Mt Isa copper project Queensland, the Eyre multi-metals project in WA and the Ohakuri gold project New Zealand.
Shares in LRV fell by around 30% on day one and the stock closed the week at 14.5c.
Also joining the boards Monday was the Australian Bond Exchange (ASX:ABE), which runs a platform that offers simplified access to corporate bond markets for retail investors.
After raising $10.4m from investors at 65c per share, ABE shares initially dipped before bouncing back through the course of the week to reach 67c in Friday trade.
Rounding out the IPO party on Monday was Newmark Property REIT (ASX:NPR). It was steady as she goes for the listed real estate investment vehicle, which raised $128.3 million at $1.90 per share in its IPO and was trading at that level on Friday.
Things largely went quiet after that on the IPO front, with a number of scheduled ASX debuts (particularly in the resources sector) pushing back their launch dates.
But on Friday, junior explorer Panther Metals (ASX:PNT) joined the boards after raising $5m from investors at 20c per share.
The company is a spin-out from its eponymous parent company that’s listed on the London Stock Exchange, which will maintain a 37% stake.
PNT will explore its existing tenements in the Laverton region of WA as well as other nickel and cobalt projects across WA and NT.
Here are the best performing ASX small cap stocks for December 6 – December 10 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % 1 week | Market Cap $ |
|---|---|---|---|---|
| NEU | Neuren Pharmaceut. | 3.85 | 122.5% | $ 491,266,136.40 |
| ERM | Emmerson Resources | 0.16 | 110.5% | $ 74,735,773.35 |
| ANL | Amani Gold Ltd | 0.0015 | 50.0% | $ 32,813,346.16 |
| PBX | Pacific Bauxite Ltd | 0.003 | 50.0% | $ 1,189,842.10 |
| SKT | Sky Network | 2.29 | 37.1% | $ 401,783,142.90 |
| LVE | Love Group Global | 0.135 | 35.0% | $ 5,472,112.82 |
| ATR | Astron Corp Ltd | 0.4 | 33.3% | $ 44,091,748.08 |
| RVS | Revasum | 0.67 | 32.7% | $ 70,964,158.18 |
| EGL | Environmental Group | 0.225 | 32.4% | $ 64,740,629.77 |
| IBG | Ironbark Zinc Ltd | 0.058 | 31.8% | $ 56,812,582.69 |
| MHC | Manhattan Corp Ltd | 0.013 | 30.0% | $ 21,367,901.70 |
| BBL | Brisbane Broncos | 0.58 | 28.9% | $ 56,863,565.98 |
| EMP | Emperor Energy Ltd | 0.051 | 27.5% | $ 9,337,980.60 |
| AHI | Adv Human Imag Ltd | 1.115 | 26.0% | $ 174,922,892.10 |
| NCL | Netccentric Ltd | 0.15 | 25.0% | $ 38,206,574.37 |
| AO1 | Assetowl Limited | 0.005 | 25.0% | $ 3,264,820.42 |
| CCE | Carnegie Cln Energy | 0.0025 | 25.0% | $ 44,707,721.13 |
| DCX | Discovex Res Ltd | 0.005 | 25.0% | $ 12,843,320.38 |
| YPB | YPB Group Ltd | 0.0025 | 25.0% | $ 11,861,822.86 |
| ICG | Inca Minerals Ltd | 0.11 | 25.0% | $ 46,651,656.95 |
The standout stock of the week was biotech play Nueren Pharmaceuticals (ASX:NEU), which enjoyed an upward re-rate after positive Phase 3 trial results.
On Tuesday, the company announced that its North American partner, Acadia Pharma (Nasdaq: ACAD) reported positive top-line results from the Phase 3 Lavender study of trofinetide, Neuren’s lead asset.
The 12-week placebo-controlled study evaluated trofinetide in 187 girls and young women aged 5-20 years with Rett syndrome — a neurological disorder that hinders brain development.
For its next steps, NEU will submit a Pre-New Drug Application meeting with the FDA in Q1 2022, while the all important New Drug Application (NDA) is slated for mid-year. Read Stockhead’s interview with the Nueren CEO Jon Pilcher here.
Also leading the pack with a triple-digit percentage gain was Emmerson Resources (ASX:ERM), which ripped higher on Wednesday after flagging a new contender for copper-gold hit of the year at its Hermitage project in the NT.
117m at 3.38% copper from 75m got the market talking — to the tune of a 129.73% intraday gain.
ERM had to call time early on a vertical drill-hole in high-grade mineralisation due to drilling difficulties. The company plans to recommence with a diamond ‘tail’ drill early next year.
Other winners included The Environmental Group (ASX:EGL), which rose sharply on Wednesday after announcing successful trial results for its PFAS water treatment solution, and the Brisbane Broncos (ASX:BBL) which climbed steadily throughout the week to close ~30% higher on no news.
Here are the worst performing ASX small cap stocks for December 6 – December 10 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % 1 week | Market Cap $ |
|---|---|---|---|---|
| MCX | Mariner Corp Ltd | 0.03 | -45.5% | $ 2,642,927.21 |
| EMUCA | EMU NL | 0.005 | -44.4% | $ 364,365.62 |
| TOM | Tomizone Limited | 0.002 | -33.3% | $ 850,401.35 |
| WRM | White Rock Min Ltd | 0.225 | -27.4% | $ 33,479,456.42 |
| PRM | Prominence Energy | 0.008 | -27.3% | $ 9,304,729.37 |
| SE1 | Sensera Ltd | 0.014 | -26.3% | $ 5,795,950.20 |
| KMT | Kopore Metals Ltd | 0.0275 | -25.7% | $ 19,361,667.00 |
| PAL | Palla Pharma Ltd | 0.29 | -25.6% | $ 47,764,383.09 |
| PCH | Property Connect | 0.0015 | -25.0% | $ 1,028,795.21 |
| NTL | New Talisman Gold | 0.0015 | -25.0% | $ 4,690,838.04 |
| ALT | Analytica Limited | 0.0015 | -25.0% | $ 6,920,701.69 |
| SIX | Sprintex Ltd | 0.06 | -25.0% | $ 16,172,288.17 |
| RIE | Riedel Resources Ltd | 0.013 | -23.5% | $ 12,567,191.81 |
| GW1 | Greenwing Resources | 0.4 | -23.1% | $ 47,267,593.20 |
| NVX | Novonix Limited | 9.43 | -22.4% | $ 4,656,742,233.30 |
| VR1 | Vection Technologies | 0.1475 | -22.4% | $ 170,813,765.57 |
| RIM | Rimfire Pacific | 0.007 | -22.2% | $ 12,643,713.15 |
| BKY | Berkeley Energia Ltd | 0.145 | -21.6% | $ 66,869,507.25 |
| IND | Industrialminerals | 0.2 | -21.6% | $ 6,055,500.00 |
| SRI | Sipa Resources Ltd | 0.04 | -21.6% | $ 7,790,942.51 |
| CYM | Cyprium Metals Ltd | 0.1375 | -21.4% | $ 76,250,593.89 |
| NTO | Nitro Software Ltd | 2.645 | -21.3% | $ 667,655,008.16 |
| SWP | Swoop Holdings Ltd | 1.42 | -21.1% | $ 219,359,717.95 |
| NUC | Nuchev Limited | 0.54 | -20.6% | $ 31,046,638.80 |
| CM8 | Crowd Media Limited | 0.031 | -20.5% | $ 20,265,737.31 |
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