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Weekly Small Cap and IPO Wrap: Who’s really driving markets right now?
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- The ASX has ended higher on Friday and is about the only global index ahead for the week
- US and EU stocks will be waiting on news out of Jackson Hole ahead of next week’s PMI’s
- Australian Pacific Coal (ASX:AQC) and Magmatic Resources (ASX:MAG) lead weekly gains
Australian markets are down slightly this week with the largest falls in tech, consumer stocks, REITs and communications offset by another good run for energy, utilities and materials.
Despite the strength the ASX 200 has put on display this week, it really should be said that market volatility, already intense, has only been intensifying.
Watching oil prices shuffle like a deck of cards these last few weeks, egged on by rate hikes market supply concerns and geopolitical tensions has led to some freaky fluctuating.
In fact, outside of a strong showing by the local benchmark which is up 0.1% for the week, regional and global sharemarkets largely slipped. European shares are down by -1.5%, Japan -1.6% and Chinese shares are -0.8% lower over the week.
US shares are down 0.7% so far with a session tonight, as tech, healthcare, consumer discretionary weighed and resources lifted.
This marks an accentuated pause in the equities rally that started in mid-June and also probably speaks to some of the ranging uncertainty traders are dealing with before Fed chair Powell’s speech at Jackson Hole at midnight tonight our time.
Commodity prices are back on the rise
Although prices for most metals and agricultural commodities are well below mid-2022 highs, AMP’s senior economist Diana Mousina notes European electricity and gas prices remain crazy high as drought conditions amp up air-conditioning demand and reduced wind capacity.
“Agricultural commodities are also rising again like corn and soybeans as US drought and heat are negative for crop production. High energy prices are also lifting the cost of fertiliser which drives food prices. Oil is back up over $90/barrel. In contrast, iron ore is down to $98/tonne from its earlier highs of $140 in early 2022 on concerns about Chinese growth.”
Next week …
A treasure trove of data is due out next week with S&P Global’s Manufacturing PMI data—released towards the end of next week—will be watched with particular interest and may offer up further insight into how leading economies are coping as recession fears grow.
The week closes with some tasty US non-farm payrolls.
Eh, there’s also a swag of 2Q GDP updates – India, South Korea, Italy, Canada, Poland and ofc – the Czech Republic all worth tracking for hints of high inflation, growing uncertainty and rising interest rates.
Elsewhere industrial production data for Thailand, Japan and Brazil will be released, as well as a wealth of inflation data—which are expected to confirm the persistence of high price pressures.
ASX IPOs This Week
On Thursday, Heavy Rare Earths (ASX:HRE) enjoyed a sterling debut.
This company holds the Cowalinya clay-hosted rare earths project in WA and two exploration licences in the NT which form the Duke project.
At Cowalinya, a JORC inferred mineral resource of 28 million tonnes at 625ppm TREO has been declared, with 25% being valuable magnet rare earths.
Meantime, as the mercurial Emma Davies points out, thus far 2022 has been a cold and lonely wasteland for IPOs – unless you’re into battery metals.
Em says a significant chunk of the 22 stocks currently trading above their IPO price in 2022 are battery or critical minerals explorers, led by Oceana Lithium (ASX:OCN), NiCo (ASX:NC1) and Lithium Plus Minerals (ASX:LPM).
Hoping to join the bourse soon is AIM-listed Atlantic Lithium, which lodged its ASX prospectus earlier this month.
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 (ASX:PLL).
ASX SMALL CAP LEADERS:
Here are the best performing ASX small cap stocks for August 22 – August 26:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| AQC | Auspaccoal Ltd | 0.365 | 170% | $18,426,955.65 |
| MAG | Magmatic Resrce Ltd | 0.21 | 153% | $45,807,623.64 |
| VMG | VDM Group Limited | 0.002 | 100% | $13,855,321.90 |
| ASN | Anson Resources Ltd | 0.27 | 86% | $272,396,768.78 |
| NRX | Noronex Limited | 0.064 | 83% | $11,420,805.73 |
| AMM | Armada Metals | 0.145 | 81% | $6,500,000.00 |
| WCN | White Cliff Min Ltd | 0.022 | 76% | $13,072,067.24 |
| RAS | Ragusa Minerals Ltd | 0.305 | 69% | $42,657,146.95 |
| EMP | Emperor Energy Ltd | 0.045 | 67% | $7,247,799.35 |
| MCT | Metalicity Limited | 0.005 | 67% | $17,293,530.03 |
| BPH | BPH Energy Ltd | 0.028 | 65% | $21,943,292.28 |
| AM7 | Arcadia Minerals | 0.28 | 56% | $15,410,304.36 |
| JTL | Jayex Technology Ltd | 0.009 | 50% | $2,492,285.39 |
| NIM | Nimyresourceslimited | 0.36 | 50% | $18,922,569.05 |
| OSX | Osteopore Limited | 0.3 | 50% | $32,835,106.64 |
| LNR | Lanthanein Resources | 0.048 | 45% | $40,438,673.94 |
| ADS | Adslot Ltd. | 0.013 | 44% | $28,658,222.53 |
| BUX | Buxton Resources Ltd | 0.13 | 44% | $16,770,345.81 |
| NWM | Norwest Minerals | 0.066 | 43% | $11,920,087.54 |
| IR1 | Irismetals | 1.005 | 41% | $54,783,000.00 |
| LV1 | Live Verdure Ltd | 0.21 | 40% | $8,412,865.00 |
| TD1 | Tali Digital Limited | 0.007 | 40% | $8,628,413.67 |
| PPG | Pro-Pac Packaging | 0.635 | 38% | $50,288,454.20 |
| PTB | PTB Group Limited | 1.57 | 37% | $199,708,799.49 |
| CY5 | Cygnus Gold Limited | 0.305 | 33% | $38,268,181.90 |
| CBE | Cobre | 0.46 | 31% | $94,986,499.45 |
| PO3 | Purifloh Ltd | 0.42 | 31% | $12,294,164.22 |
| AXP | AXP Energy Ltd | 0.0065 | 30% | $34,873,084.04 |
| OCN | Oceanalithiumlimited | 0.72 | 30% | $24,473,250.00 |
| PG1 | Pearl Global Ltd | 0.022 | 29% | $22,049,440.97 |
| JGH | Jade Gas Holdings | 0.071 | 29% | $39,553,021.80 |
| ADD | Adavale Resource Ltd | 0.036 | 29% | $14,433,308.93 |
| ATR | Astron Corp Ltd | 0.8 | 28% | $96,756,891.62 |
| ASP | Aspermont Limited | 0.023 | 28% | $55,871,438.56 |
| SPZ | Smart Parking Ltd | 0.235 | 27% | $74,036,130.21 |
| ANG | Austin Engineering | 0.33 | 27% | $197,787,453.36 |
| TER | Terracom Ltd | 1.135 | 27% | $781,894,568.98 |
| WA1 | Wa1Resourcesltd | 0.19 | 27% | $5,516,651.33 |
| EME | Energy Metals Ltd | 0.19 | 27% | $38,791,412.72 |
| RDT | Red Dirt Metals Ltd | 0.62 | 27% | $164,459,390.04 |
| CDD | Cardno Limited | 0.555 | 26% | $21,873,971.28 |
| BEZ | Besragoldinc | 0.04 | 25% | $6,186,598.56 |
| CFO | Cfoam Limited | 0.005 | 25% | $3,669,203.17 |
| DM1 | Desert Metals | 0.275 | 25% | $10,558,199.96 |
| GGX | Gas2Grid Limited | 0.0025 | 25% | $10,145,255.20 |
| PRM | Prominence Energy | 0.0025 | 25% | $6,061,522.05 |
| MTM | Mtmongerresources | 0.155 | 24% | $6,001,605.28 |
| KFM | Kingfisher Mining | 0.29 | 23% | $9,931,050.29 |
| FXG | Felix Gold Limited | 0.185 | 23% | $14,969,951.64 |
| DYL | Deep Yellow Limited | 0.9 | 23% | $662,204,856.07 |
Two killer weeks for Australian Pacific Coal (ASX:AQC) and Magmatic Resources (ASX:MAG) .
The former has risen beyond its takeover price and as Gregor reckons – “let’s get some of that sweet, sweet takeover money” bus completely missed its $0.30 stop, rocketing along with its foot to the floor and its chin on the horn with the stock climbing about 150% this week.
The latter jumped high and fast off the back of some super copper intersections with visible copper sulphide mineralisation at its Corvette Prospect in NSW.
Visible copper = circa 130% share price gain.
ASX SMALL CAP LAGGARDS:
Here are the least performing ASX small cap stocks for August 22 – August 26:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % Week | Market Cap |
|---|---|---|---|---|
| DOC | Doctor Care Anywhere | 0.12 | -49% | $23,858,111.55 |
| PVS | Pivotal Systems | 0.094 | -37% | $15,946,625.00 |
| ALT | Analytica Limited | 0.001 | -33% | $4,613,801.13 |
| ANL | Amani Gold Ltd | 0.001 | -33% | $23,693,441.13 |
| JAV | Javelin Minerals Ltd | 0.001 | -33% | $14,181,229.16 |
| WGN | Wagners Hld Company | 0.775 | -31% | $149,156,838.68 |
| ST1 | Spirit Technology | 0.061 | -28% | $46,530,650.53 |
| IRX | Inhalerx Limited | 0.056 | -28% | $9,434,149.59 |
| OAR | OAR Resources Ltd | 0.004 | -27% | $8,684,151.59 |
| ADN | Andromeda Metals Ltd | 0.07 | -27% | $289,230,784.18 |
| LER | Leaf Res Ltd | 0.027 | -27% | $33,139,735.50 |
| LAW | Lawfinance Ltd | 0.19 | -27% | $12,099,374.61 |
| CCX | City Chic Collective | 1.7475 | -27% | $460,361,370.71 |
| MPP | Metro Perf.Glass Ltd | 0.185 | -26% | $38,002,507.63 |
| A3D | Aurora Labs Limited | 0.04 | -26% | $7,734,638.86 |
| SSM | Service Stream | 0.7775 | -25% | $498,922,006.14 |
| AUK | Aumake Limited | 0.006 | -25% | $4,628,681.54 |
| HMG | Hamelingoldlimited | 0.15 | -25% | $16,500,000.00 |
| T3D | 333D Limited | 0.0015 | -25% | $4,566,445.00 |
| SHG | Singular Health | 0.125 | -24% | $8,487,578.97 |
| WCG | Webcentral Ltd | 0.195 | -24% | $67,874,022.36 |
| DTR | Dateline Resources | 0.092 | -23% | $47,094,380.40 |
| MEM | Memphasys Ltd | 0.028 | -23% | $24,420,993.44 |
| IHL | Incannex Healthcare | 0.2425 | -22% | $380,898,423.75 |
| HIQ | Hitiq Limited | 0.051 | -22% | $5,770,965.33 |
| KLL | Kalium Lakes Ltd | 0.045 | -21% | $58,266,344.27 |
| CHL | Camplifyholdings | 2.15 | -20% | $62,822,300.80 |
| CSF | Catalanoseafoodltd | 0.12 | -20% | $3,797,375.00 |
| DW8 | DW8 Limited | 0.008 | -20% | $21,505,245.02 |
| KOR | Korab Resources | 0.028 | -20% | $9,910,350.00 |
| MBK | Metal Bank Ltd | 0.004 | -20% | $10,431,272.64 |
| SIH | Sihayo Gold Limited | 0.002 | -20% | $12,204,256.18 |
| WBE | Whitebark Energy | 0.002 | -20% | $11,296,438.39 |
| SZL | Sezzle Inc. | 0.68 | -20% | $139,677,645.36 |
| GFN | Gefen Int | 0.105 | -19% | $7,133,713.34 |
| SRK | Strike Resources | 0.105 | -19% | $28,350,000.00 |
| WGX | Westgold Resources. | 0.9775 | -19% | $551,770,480.45 |
| HAL | Halo Technologies | 0.275 | -19% | $34,966,519.83 |
| AD1 | AD1 Holdings Limited | 0.017 | -19% | $11,488,843.93 |
| TAR | Taruga Minerals | 0.026 | -19% | $16,763,398.96 |
| TNY | Tinybeans Group Ltd | 0.24 | -19% | $14,650,679.28 |
| ALM | Alma Metals Ltd | 0.009 | -18% | $8,873,667.08 |
| TYX | Tyranna Res Ltd | 0.032 | -18% | $74,795,541.34 |
| PNV | Polynovo Limited | 1.74 | -18% | $1,336,609,848.88 |
| C1X | Cosmosexploration | 0.14 | -18% | $4,125,000.00 |
| NSM | Northstaw | 0.14 | -18% | $5,617,780.00 |
| MAN | Mandrake Res Ltd | 0.043 | -17% | $23,517,996.48 |
| ANP | Antisense Therapeut. | 0.091 | -17% | $66,210,603.82 |
| AUN | Aurumin | 0.12 | -17% | $15,036,856.56 |
