• The ASX 200 and Emerging co’s index both lower on Friday and for the week
  • Jackson Hole left one in the hearts of traders 
  • American West Metals and Dart Mining lead weekly gains


The S&P/ASX Emerging Companies (XEC) index fell 1.1% on Friday and 3.6% over the past week. The benchmark ASX 200 is about 1% down for the day and 3% for what was the first of several usually tricky September weeks – an historically ordinary time for local markets.

The last week took a toll on the fragile hearts of US investors, the losses set in motion by hawkish Jackson Hole chatter only found rich momentum on the back of continuing mostly hawkish comments from the Fed and ECB and ongoing concerns about recession.


But it wasn’t all ordinary

Australian shares put on a glimpse of that resilience our parents oft spoke of. August was a fairly strong month for the All Ords et al, despite 10 out of 11 sectors coming in lower along with the ASX200.

The red part came at the end of August, following Wall Street’s plunge on US Fed’s Jerome Powell frank assessment that the Fed must maintain the rage to gut inflation like a pike, lest it breed and multiply around the US economy.

Wall Street is looking as vulnerable as (insert first spring cricket joke) to ongoing Fed hawkishness and they have shown it.

But a damn resilient showing for Aussie stocks in August, certainly better than most global indices, was helped by a steady run of not as appalling and even positive earnings reports.

This week however stocks came under some of that real pressure. Volatility came back to the fore, wild swings from Wall St to global energy prices led to falls in energy, mining, utilities, industrials and tech stocks. Bond yields rose sharply as traders did the math on higher-for-longer interest rates.

Oil, I mean why bother (sigh, gimme a moment). Oil is down sharply this week, but only after sharply gaining. The West Texas sort and the Nymex sort were both well back under $US100 when I last looked, but these 5% swings are getting real old.

Iron ore prices have been hit by fears around new lockdowns in China. Chengdu is the latest city to fall foul of the zero-COVID game.

Dr Shane Oliver at AMP Capital warns that equity markets remain at high risk of further falls in the short-term.

“Share markets ran ahead of themselves in the rally from their June lows into their mid-August highs recovering just over half of their earlier decline helped by mostly good earnings reporting seasons in the US and Australia.”

He said, US data was mostly a bit stronger in the past week with consumer confidence up, job openings up, jobless claims down again, the ISM manufacturing index remaining resilient but home price gains slowing down and construction down.

“September has been the weakest month of the year for US and Australian shares particularly when markets are  already in a downtrend; and geopolitical risks remain high over Taiwan, Ukraine and the US mid-terms,” Dr Oliver added.

Source: Bloomberg, AMP


According to the ASX, these two stocks will make their debut listing next week (subject to last minute change, always without notice):

Atlantic Lithium (ASX:AI1)

Listing: 8 September

IPO: $13.25m at $0.58

With an existing market cap of around $350m, Atlantic’s main game is the 30Mt Ewoyaa lithium project in Ghana, where it is funded through to production via a co-production agreement with fellow mine developer Piedmont Lithium.

Piedmont has the right to earn up to 50% at the project level for 50% SC6 spodumene concentrate offtake at market rates by solely funding US$17m towards studies and exploration and US$70m towards mine capex.

Atlantic completed a scoping study for Ewoyaa in December 2021 based upon a JORC 2012 resource of 21.3Mt at 1.31% Li2O and assuming US$900/t SC6 pricing and an 11.4-year mine life.

Plus, in March, Atlantic updated the mineral resource estimate at Ewoyaa by a massive 42%. The project hosts an MRE of 30.1 million metric tonnes at 1.26% lithium, including indicated resources of 20.5 million tonnes at 1.29%.

Terra Uranium (ASX:T92)

Listing: 8 September

IPO: $7.5m at $0.20

The company holds three owned projects – the HawkRock, Parker Lake and Pasfield Lake – covering 775sqkm in the Athabasca Basin, Canada, which contains the world’s largest and highest-grade uranium deposits.

“We are targeting greenfield discovery and brownfield developments close to existing production infrastructure to play a role in a clean carbon free economy,” executive chairman Andrew Vigar says.

The plan is to explore and develop the projects as well as seek out further complementary mineral exploration and resource opportunities.


Here are the best performing ASX small cap stocks for August 29 – September 2:

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

Code Company Price % Week Market Cap
KFM Kingfisher Mining 0.6 107% $19,519,651
AW1 Americanwestmetals 0.275 104% $28,312,077
KKO Kinetiko Energy Ltd 0.11 90% $49,937,400
DM1 Desert Metals 0.39 77% $20,876,441
WC1 Westcobarmetals 0.195 70% $5,996,265
RR1 Reach Resources Ltd 0.0065 63% $11,460,304
AD1 AD1 Holdings Limited 0.026 53% $18,919,745
PBL Parabellumresources 0.4 51% $15,407,725
MEB Medibio Limited 0.0015 50% $4,980,891
NTL New Talisman Gold 0.003 50% $9,381,676
SIH Sihayo Gold Limited 0.003 50% $18,306,384
BYI Beyond International 0.46 48% $28,215,005
AHI Adv Human Imag Ltd 0.185 48% $41,221,099
AJQ Armour Energy Ltd 0.008 45% $15,809,156
BIR BIR Financial Ltd 0.043 43% $8,661,755
DTM Dart Mining NL 0.11 41% $16,907,520
PG1 Pearl Global Ltd 0.031 41% $28,062,925
EMT Emetals Limited 0.014 40% $10,200,000
CAU Cronos Australia 0.49 40% $237,575,823
DRE Dreadnought Resources Ltd 0.14 40% $425,744,697
NYM Narryermetalslimited 0.16 39% $4,605,563
MRL Mayur Resources Ltd 0.12 38% $28,985,240
PNM Pacific Nickel Mines 0.105 36% $27,127,586
FDR Finder 0.12 35% $9,000,000
NTO Nitro Software Ltd 1.61 34% $387,175,672
ADX ADX Energy Ltd 0.008 33% $24,535,208
LNR Lanthanein Resources 0.056 33% $47,178,453
BRI Big Riv Indust Ltd 2.46 33% $197,346,264
GGE Grand Gulf Energy 0.0345 33% $49,491,541
MOH Moho Resources 0.034 31% $5,814,542
PIL Peppermint Inv Ltd 0.017 31% $30,567,853
CMD Cassius Mining Ltd 0.03 30% $10,497,263
TG1 Techgen Metals Ltd 0.215 30% $8,399,599
DOR Doriemus PLC 0.065 30% $7,462,079
DUN Dundasminerals 0.2 29% $7,166,078
TPC TPC Consolidated Ltd 2.45 29% $32,420,497
SI6 SI6 Metals Limited 0.009 29% $13,393,702
TMX Terrain Minerals 0.009 29% $6,846,849
FCT Firstwave Cloud Tech 0.063 29% $98,078,881
INF Infinity Lithium 0.18 29% $68,477,156
PO3 Purifloh Ltd 0.5 28% $15,761,749
BEZ Besragoldinc 0.046 28% $7,733,248
COI Comet Ridge Limited 0.2225 27% $176,307,061
CY5 Cygnus Gold Limited 0.33 27% $41,211,888
FLX Felix Group 0.195 26% $21,245,404
HAS Hastings Tech Met 5.38 25% $526,518,364
AFW Applyflow Limited 0.0025 25% $7,394,020
REZ Resourc & En Grp Ltd 0.025 25% $11,495,533
ROG Red Sky Energy. 0.005 25% $26,511,136
ROO Roots Sustainable 0.005 25% $3,748,163
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Copper really is the new copper.

And American West Metals (ASX:AW1)  has made buds with a brace of brilliant copper hits at its Storm Copper Project in Canada, led by a headline 41m at 4.18% copper.

The first assays at Somerset Island in Canada’s sunny (no, just kidding) northern Nunuvut territory, unearthed that thick, high-grade strike in ST22-05 coming from just 38m downhole.

It contains intervals with even higher copper grades, including 15m at 10.05% Cu from 47m downhole, and which includes 5m at 24.28% Cu from 48m in a thick zone of massive bornite and chalcopyrite.

It follows a rich vein of form at 2750N, which is looking to advance to a maiden resource with every drill hole completed to date intersecting thick zones of breccia and or massive copper sulphides, the kind of mineralisation that tends to host high grade copper deposits.

Of 1534m drilled during American West’s (ASX:AW1) 2022 program 997m has been completed at the shallow, high grade 2750N Zone.

The mineralisation at the 2750N Zone is over 200m in strike and remains open to the east, west and at depth, with strong copper anomalism in soils and rock chips for over 1km from the defined mineralised zone suggesting there is strong potential for further extensions.

Gossan rock chips on the western margin of the 2750N Zone include a float of up to 62% copper.

Dart Mining (ASX:DTM) hass got a placement up its sleeve, with details in the post. This is hardly surprising since it went through the roof already this week.

It’s all Barry’s fault.

Finally, below is an email from Mike, whose earned his anonymity but isn’t (I’ve checked) either Bob Peppermint Innovations or Mike PIL.

This is his response to yesterday’s Peppermint Innovation call out, in full, which I appreciate and admire.

For those just catching up, Peppermint Innovation (ASX:PIL) put out a preliminary FY report, with revenue is down 32% and its net loss is up 26%. The fintech jumped 41% and i said something like:

“I’m running out of time, so PIL is up 40% and if you know why: christian.edwards@stockhead.com.au
“Hi Christian,
In my opinion the jump in PIL’s share price yesterday is a combination of the below achievements over the past 12 months but in particular the latest two on that list only went live two days ago.
• Financial licence
• DragonPay cash in
• G Cash payment
• Maya cash in
• BPI cash in
• EMI licence
• ECPAY (7/11) cash in
• Visa agreement
• Instapay/Pesonet fund transfer
The ECPAY (7/11) cash in and Instapay/Pesonet fund transfer only just went live with the latest Bizmoto app update 2 days ago but the company have yet to officially announce that they went live. Both of these updates to the app are very important and will play a huge part in the future growth of Bizmoto.
Although the Bizmoto app was launched 4 years ago, it’s really only the last 6 – 12 months where they have gained the most traction as far as services offered within the app.
The first 3 years the app was very basic and too limited with cash in/out options. Basically the only way agents could cash in to their Bizmoto wallet was to physically go to a bank (mon -Fri 9-5) and deposit money into a PIL account and then wait another day for the funds to be transferred into their wallet.
In the past 6-8 months the agents have been given multiple channels to cash in/out 24/7. Those cash in/out deals are with the biggest Fintech companies operating in the Philippines.
  • GCash
  • DragonPay
  • Maya
  • ECPAY (7/11 stores)
  • BPI bank (Bank of the Philippine islands)
The new guy (Neal Cross (Non-executive director) has been given the job of guiding them and he knows his stuff.
The Bizmoto app has basically been rebuilt from the ground up under the guidance of Cross and I believe he will help them take Bizmoto to a whole new level. I’m not that fussed about the lack of revenue at the moment because they only have 65k agents which is a drop in the ocean in the scheme of things. The rewards will come when they start rolling out the EMI loans IMO.
It’s certainly a company worth watching over the next 12 months.”

Thanks for that Mike, accurate or not, it’s a bloody big Newtowner for you!



Here are the least performing ASX small cap stocks for August 29 – September 2:

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

Code Company Price % Week Market Cap
MOB Mobilicom Ltd 0.021 -53% $26,625,593
VMG VDM Group Limited 0.001 -50% $6,927,661
DGL DGL Group Limited 1.495 -48% $432,831,102
GRR Grange Resources. 0.755 -45% $989,524,587
AMS Atomos 0.185 -41% $41,135,043
NRX Noronex Limited 0.04 -40% $6,818,391
PNV Polynovo Limited 1.29 -36% $883,353,539
ADN Andromeda Metals Ltd 0.061 -34% $177,270,481
CCE Carnegie Cln Energy 0.002 -33% $30,205,147
JAV Javelin Minerals Ltd 0.001 -33% $9,454,153
KEY KEY Petroleum 0.002 -33% $3,935,856
T3D 333D Limited 0.001 -33% $4,566,445
YPB YPB Group Ltd 0.006 -33% $2,439,277
MME Moneyme Limited 0.475 -33% $118,923,613
RAS Ragusa Minerals Ltd 0.2275 -32% $30,874,576
1ST 1St Group Ltd 0.007 -30% $11,593,564
JTL Jayex Technology Ltd 0.007 -30% $1,744,600
PBH Pointsbet Holdings 2.37 -30% $745,751,003
VAR Variscan Mines Ltd 0.032 -29% $8,535,425
TD1 Tali Digital Limited 0.005 -29% $7,395,783
BDG Black Dragon Gold 0.04 -27% $8,026,802
HPC Thehydration 0.12 -27% $17,262,703
ICN Icon Energy Limited 0.016 -27% $12,076,320
SPT Splitit 0.15 -27% $75,426,717
WFL Wellfully Limited 0.025 -26% $7,803,522
WGX Westgold Resources. 0.865 -26% $416,788,002
SIV SIV Capital Limited 0.205 -25% $8,049,923
ALM Alma Metals Ltd 0.009 -25% $6,655,250
HLX Helix Resources 0.006 -25% $16,262,021
MGG Mogul Games Grp Ltd 0.0015 -25% $6,526,882
VOL Victory Offices Ltd 0.024 -25% $3,788,352
CNJ Conico Ltd 0.048 -25% $79,877,789
MEK Meeka Metals Limited 0.069 -24% $70,915,632
NGY Nuenergy Gas Ltd 0.023 -23% $34,061,976
EMU EMU NL 0.01 -23% $6,047,959
TGH Terragen 0.1 -23% $22,312,212
GFN Gefen Int 0.081 -23% $5,503,150
EPN Epsilon Healthcare 0.028 -22% $7,931,682
ERL Empire Resources 0.007 -22% $8,308,577
CCX City Chic Collective 1.545 -22% $368,752,937
AM7 Arcadia Minerals 0.26 -21% $11,907,962
MBX Myfoodieboxlimited 0.071 -21% $2,244,500
RAG Ragnar Metals Ltd 0.035 -20% $15,167,396
TTB Total Brain Ltd 0.039 -20% $5,215,124
RMS Ramelius Resources 0.7325 -20% $637,528,055
8VI 8Vi Holdings Limited 1.03 -20% $45,136,214
MHK Metalhawk. 0.16 -20% $9,146,771
OPN Oppenneg 0.12 -20% $21,349,526
PCL Pancontinental Energ 0.004 -20% $30,216,891
RDN Raiden Resources Ltd 0.008 -20% $11,876,415
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No losers this week. So have a great weekend!