Connect with us

Uncategorized

Closing Bell: ASX falters after a promising start

ASX 200 pulls up lame after a solid early morning run Energy and Materials limp like beaten favourites back to … Read More
The post Closing Bell: ASX…

Published

on

This article was originally published by Stockhead
  • ASX 200 pulls up lame after a solid early morning run
  • Energy and Materials limp like beaten favourites back to the dog house
  • Oceana Lithium becomes a bookie’s bestie, rocketing up the charts on debut

 

It all looked so promising this morning, as the ASX 200 leapt from the starting gates with more spring in its step than an African antelope. Sadly, the collective mid-morning coffee failed to kick in and the whole thing sagged like the wrong end of a ram throughout the afternoon.

For a broad view of how the whole week went, Captain Chedward is once again in the Stockhead NewsCopter, blaring Ride of the Valkyries while screaming market jargon into a microphone. You can catch all the Weekly Wrap action here.

Sector wise, it was groovier than an old-skool LP record in most regards, with Industrials (1.80%), Utilities (+1.64) and Real Estate (1.5%) pumping up the jams to get our bodies moving.

However Energy was decidedly Low-NRG (-2.59%) and the Materials girls shed percentage points like Madonna sheds her clothes, (-1.22%).

(Yes, it was a laboured metaphor, but we got there in the end, and that’s what counts).

Top of the Pops for the day was the performance of New Kids on the Lithium Block, Oceana Lithium (ASX:OCN).

The company’s oversubscribed IPO and market-watchers’ unrelenting need for mood-stabilising lithium drugs saw its price jump to $0.30, a 50% gain and a solid debut.

Lithium’s on the lips of everyone with their nose in the spodumene trough, and you can read even more about it here, with thanks to our very own super-journo Emma Davies.

Iron minnow CuFe (ASX:CUF) also had a belter today, despite no real news emerging from the front office. It was up close to 40% on a solid dollar amount of trade.

CuFe responded this afternoon to a “Yo, wassup?” from the ASX, with a reassuring “We cool, man… we cool” after the jump raised a few eyebrows around town.

$177,000-plus- change worth of volume is nothing to sneeze at with shares at a Lilliputian $0.007 apiece, and we suspect that even super-spy James Bond would be getting in at that price.

There weren’t many of the big kids sharing high-fives or nursing wedgies this afternoon – but what we can tell you is that everything with the word Betashares written on it has tanked harder than SeaWorld’s Orca enclosure, with the worst of the bunch plunging more than 19.0%.

It’s all down in the Betashares world by at least 5 points – which, rather spookily, is the same freakishly small point size they’ve used for the fonts in their ASX announcements, much to the annoyance of absolutely everybody everywhere. #NoCoincidences. #IlluminatiConfirmed.

Yancoal (ASX:YAL) upset the apple cart by announcing plans for an $801m debt prepayment by the end of the month, down 4.6% and Liontown (ASX:LTR) took another kicking, losing 3.32% despite getting inventors on the phone yesterday for a quick chat about how things are traveling.

 

TODAY’S BIGGEST SMALL CAP WINNERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price % Market Cap
CCE Carnegie Cln Energy 0.002 100% $15,102,573.71
OCN Oceanalithiumlimited 0.31 55% $6,705,000.00
BAT Battery Minerals Ltd 0.006 50% $11,617,892.47
DXN DXN Limited 0.007 40% $7,356,574.18
CUF Cufe Ltd 0.025 39% $17,255,022.57
EBR EBR Systems 0.51 36% $98,619,948.38
KFE Kogi Iron Ltd 0.004 33% $4,852,733.27
GWR GWR Group Ltd 0.12 33% $28,909,498.95
TDO 3D Oil Limited 0.06 30% $12,198,665.11
ICG Inca Minerals Ltd 0.105 30% $39,006,354.09
GRL Godolphin Resources 0.11 26% $7,320,849.99
MWY Midway Ltd 0.935 26% $64,628,804.28
ASB Austal Limited 2.26 26% $651,344,677.20
PPS Praemium Limited 0.5825 25% $236,171,194.53
AMD Arrow Minerals 0.0025 25% $3,647,863.52
AO1 Assetowl Limited 0.0025 25% $3,144,259.52
DCX Discovex Res Ltd 0.005 25% $10,274,656.30
DDD 3D Resources Limited 0.0025 25% $8,363,744.18
LNY Laneway Res Ltd 0.005 25% $25,208,065.64
AMS Atomos 0.235 24% $42,246,801.15
RNE Renu Energy Ltd 0.037 23% $10,936,980.36
DTC Damstra Holdings 0.135 23% $28,346,602.68
RAN Range International 0.011 22% $8,453,612.88
RMX Red Mount Min Ltd 0.0055 22% $7,390,637.36
TMK TMK Energy Limited 0.011 22% $31,320,000.00

 

TODAY’S BIGGEST SMALL CAP LOSERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

Code Name Price % Change Market Cap
ASB Austal Limited 2.26 26% $651,344,677.20
PBH Pointsbet Holdings 2.91 9% $813,696,808.16
IMU Imugene Limited 0.195 8% $1,055,825,990.10
RRL Regis Resources 1.405 8% $981,291,626.90
ERA Energy Resources 0.205 8% $701,362,807.62
AIZ Air New Zealand 0.535 6% $1,701,074,479.08
LFS Latitude Group 1.25 5% $1,235,769,230.22
BRN Brainchip Ltd 0.84 5% $1,375,489,715.20
CNI Centuria Capital 1.9 5% $1,434,944,687.20
OCL Objective Corp 14.38 5% $1,303,349,330.14
NWL Netwealth Group 12.72 5% $2,964,763,660.16
INR Ioneer Ltd 0.4275 4% $857,432,762.20
IEL Idp Education Ltd 24.83 4% $6,629,968,546.02
QUB Qube Holdings Ltd 2.845 4% $4,820,531,690.52
RMS Ramelius Resources 0.905 4% $754,625,044.83
HMC Homeco Limited 4.69 4% $1,351,276,305.06
PNI Pinnacle Investment 7.3 4% $1,402,908,887.91
MGR Mirvac Group 2.05 4% $7,787,561,910.95

 

ANNOUNCEMENTS YOU MAY’VE MISSED

Australian Agricultural Projects Limited (ASX:AAP) says that the year’s harvest figures are in, and things are looking oilier than a Turkish wrestling bout. In simple terms, there’s 564,500 litres of olive oil on the market, a great result for a low year in the two-year / high-low yield cycle. Against 2020 results, it’s more than 320,000 litres more, which AAP says is down to a forward-looking replanting program initiated in 2018.

Sports Entertainment Group Limited (SEG) says the purchase of the 4KQ 693AM Brisbane Commercial Radio Licence has been completed. The people of Brisbane can now look forward to hearing about all their favourite sports, sounding like it’s being shouted at them from the bottom of a tin can. How good’s AM radio!?

And lastly McPherson’s has announced the completion of a “unique strategic alliance” with Chemist Warehouse, after it sent Australia’s Cheapest Chemists 14,223,817 fully paid ordinary shares in MCP at a value of $0.88 each. No word yet on exactly how much those will end up being discounted once they hit stores across the country, or whether Chemist Warehouse will offer its “We’ll match any competitor’s price” promotion.

TRADING HALTS

NeuRizer Ltd (ASX:NRZ) – NeuRizer has an offtake agreement in the works.

Stavely Minerals Limited (ASX:SVY) – Guess who’s raising capital today?

GWR Group Ltd (ASX:GWR) – GWR has hit pause because there’s news behind an ASX Query Letter.

Invictus Energy Ltd (ASX:IVZ) – Something’s about to happen at the company’s prospective resource.

BBX Minerals Limited (ASX:BBX) – Assay results are on the way, and BBX wants to raise some capital as well.

The post Closing Bell: ASX falters after a promising start appeared first on Stockhead.



Uncategorized

Aztec Minerals, Endeavour Silver See Founder And Chair Bradford Cooke Pass Away

Another force to be reckoned with in the Canadian junior markets has passed away. Bradford Cooke, whom was the founder
The post Aztec Minerals, Endeavour…

Continue Reading
Energy & Critical Metals

We’ll Need a New Monster Cobalt Mine Every 2 Years from 2025-26…

Unlike fellow battery metals lithium and graphite, cobalt has crashed back to earth over the past month and a half. … Read More
The post We’ll need…

Continue Reading
Gold

Futures Plunge, Yields Roar Higher As Bear-Market Rally Slams Brick Wall On $2.1 Trillion Op-Ex

Futures Plunge, Yields Roar Higher As Bear-Market Rally Slams Brick Wall On $2.1 Trillion Op-Ex

The combination of plunging bitcoin prices,…

Continue Reading

Trending