Materials, Energy and Infotech dominate a sluggish day on Wednesday
Booktopia collapses with a grim outlook for a final chapter ahead
Some standout performances among the small caps, but who won?
The ASX 200 benchmark struggled to make any headway on Wednesday, despite from solid gains among a handful of small caps, and a relatively strong performance from the Materials, Energy and Infotech sectors.
By the close of play, the benchmark was at around +0.28%, thanks largely to a big push among the miners, following a modest rally on Wall Street overnight with a sluggish showing of its own.
By the end of the day, the sectors looked like this:
Chart via Marketindex.com.au
And the ASX indices looked like this:
Chart via Marketindex.com.au
The headline news of the day includes the implosion of online bookseller Booktopia, which announced that the administrators have been called in to try and manage the collapse.
“The administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalization are explored,” McGrathNicol Restructuring said in an announcement.
It’s been a rough ride for the bookseller, which debuted in 2020 and was at one point trading just one cent shy of $3 per share – it’s slid from that high point to the last trading price of $0.045 per share, and trading is suspended while the administrators do their thing.
And elsewhere in the Business World, the ACCC has given a hefty $50 million bailout for Armaguard the green light, with the funds coming from the Australian Banking Association (ABA), banks and retailers.
It remains unclear whether Armaguard is going to have to go business to business to collect the funds in cash, but it would at the very least give the company something to do while it figures out a future in an increasingly cash-shy future.
ASX SMALL CAP LEADERS
Here are the best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Change Volume Market Cap VML Vital Metals Limited 0.004 100.00 19,912,213 $11,790,134 WTM Waratah Minerals Ltd 0.245 96.00 9,898,784 $22,420,562 MMM Marley Spoon Se 0.038 90.00 559,351 $2,354,488 LSR Lodestar Minerals 0.0015 50.00 5,402,017 $2,023,397 MTL Mantle Minerals Ltd 0.003 50.00 87,273 $12,394,892 NES Nelson Resources. 0.003 50.00 300,084 $1,227,189 TD1 Tali Digital Limited 0.0015 50.00 180,000 $3,295,156 TX3 Trinex Minerals Ltd 0.003 50.00 1,049,743 $3,657,305 AI1 Adisyn Ltd 0.03 42.86 2,385,207 $3,887,772 AL3 Aml3D 0.135 37.76 19,745,034 $36,955,705 LNU Linius Tech Limited 0.002 33.33 2,225,000 $8,320,111 ODE Odessa Minerals Ltd 0.004 33.33 960,003 $3,129,848 RDS Redstone Resources 0.004 33.33 1,000,000 $3,238,825 TMX Terrain Minerals 0.004 33.33 129,300 $4,295,012 TTI Traffic Technologies 0.004 33.33 166,183 $2,918,656 VPR Voltgroupltd 0.002 33.33 950,000 $16,074,312 YAR Yari Minerals Ltd 0.004 33.33 100,123 $1,447,073 FCT Firstwave Cloud Tech 0.017 30.77 795,495 $22,230,252 PFE Panteraminerals 0.039 30.00 2,440,680 $10,864,245 TG6 Tgmetalslimited 0.225 22% 203,346 $13,154,895 CL8 Carly Holdings Ltd 0.017 21% 323,123 $3,757,185 TSO Tesoro Gold Ltd 0.034 21% 3,081,191 $34,428,260 BEO Beonic Ltd 0.029 21% 209,228 $11,716,060 AHK Ark Mines Limited 0.18 20% 649,521 $8,316,962
Waratah Minerals (ASX:WTM) was out in front on Wednesday morning, thanks to a fresh set of results from a further six drill holes from the on-going RC drill program at the company’s Spur gold-copper project, with the highlight result coming in at 89m at 1.73g/t Au, 0.08% Cu from 115m inc. 57m at 2.50g/t Au, 0.11% Cu from 115m.
Melodiol Global Health (ASX:ME1) was up earlier on Wednesday after issuing a trading update, showing that Q2 2024 unaudited revenues have come in at a total of $4.8 million, which represents a 9% increase on Q1 2024 revenue of $4.4 million. The uptick brings the company’s H1 2024 unaudited revenues to $9.2 million, a 31% increase on H1 2023 of $7.0 million.
The Calmer Co (ASX:CCO) has also issued some updated sales results, showing that its eCommerce sales have increased by $2,500, to over $18,500 per day in June, showing month on month growth over the full financial year of FY24.
The company says that sales via eCommerce channels grew at an average of 17% monthly over the full FY24 year, with an aggregate annual growth rate of 540%
And Prodigy Gold (ASX:PRX) has released an updated Mineral Resource Estimate for its Tregony gold deposit, which now sits at 0.46Mt at 1.6g/t Au for 23,000oz indicated, 1.10Mt at 1.2g/t Au for 41,000oz inferred for a total MRE of 1.56Mt at 1.3g/t Au for 64,000oz.
ASX SMALL CAP LAGGARDS
Here are the least best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Change Volume Market Cap FMR FMR Resources Ltd 20.5 -48.75 704,014 $7,965,129 IS3 I Synergy Group Ltd 0.5 -37.50 11,177,945 $2,832,643 HCD Hydrocarbon Dynamic 0.2 -33.33 3,390,824 $2,425,747 HLX Helix Resources 0.2 -33.33 21,923,867 $9,792,581 TKL Traka Resources 0.1 -33.33 30,000 $2,625,988 APL Associate Global 10 -25.93 84,010 $7,626,478 ICG Inca Minerals Ltd 0.6 -25.00 4,191,699 $6,437,911 MKL Mighty Kingdom Ltd 0.3 -25.00 339,000 $12,863,772 RLC Reedy Lagoon Corp. 0.3 -25.00 32,779 $2,478,163 SFG Seafarms Group Ltd 0.3 -25.00 644,828 $19,346,397 TMK TMK Energy Limited 0.3 -25.00 10,208,978 $27,686,448 WML Woomera Mining Ltd 0.3 -25.00 900,000 $4,872,556 NPM Newpeak Metals 1.8 -25.00 234,910 $2,966,842 OVT Ovanti Limited 1.2 -20.00 4,021,377 $17,037,382 AEV Avenira Limited 0.4 -20.00 4,395,000 $11,745,170 BYH Bryah Resources Ltd 0.4 -20.00 3,847,301 $2,177,268 HOR Horseshoe Metals Ltd 0.8 -20.00 2,388,906 $6,495,787 CHN Chalice Mining Ltd 122 -19.47 23,389,094 $589,279,406 CL8 Carly Holdings Ltd 1.4 -17.65 134,292 $4,562,297 SBR Sabre Resources 1.4 -17.65 314,032 $6,362,453
TRADING HALTS
Trigg Mining (ASX:TMG) – pending an announcement regarding a capital raising.
MRG Metals (ASX:MRQ) – pending the release of an announcement to the market in relation to a capital raising.
Peak Minerals (ASX:PUA) – pending an announcement regarding a proposed acquisition and capital raising.
Strategic Elements (ASX:SOR) – pending an announcement in relation to a potential capital raising.
ICYMI – PM EDITION
BPM Minerals (ASX:BPM) is acquiring the 494km2 Durack project in WA, which hosts high-grade rare earth elements along with accessory zircon and titanium.
GTI Energy (ASX:GTR) is all set to start a fully funded Q3 drill program designed to expand and upgrade existing uranium resources at its Lo Herma project in Wyoming.
Leeuwin Metals (ASX:LM1) has started summer field work at its Cross Lake lithium project in Canada’s Manitoba province to build on last year’s work, which confirmed the presence of high-grade spodumene over a 4.7km corridor.
Miramar Resources’ (ASX:M2R) induced polarisation survey has outlined a potential extension to Northern Star’s 8 Mile Dam deposit that is shallower than expected. Drill testing of this 8-Mile target is planned after maiden Bangemall nickel-copper-cobalt-PGE drilling is completed.
Ora Banda Mining (ASX:OBM) has upgraded resources at the Sand King deposit by 176% to 306,000oz of gold, increasing the likelihood that it will be the second underground mine at its Davyhurst project after Riverina.
Rio Tinto (ASX:RIO) has increased its stake in Sovereign Metals (ASX:SVM) to 19.76% after spending $18.5m to exercise options. This increases its exposure to the giant Kasiya graphite deposit in Malawi that has a resource of 1.8Bt at 1% rutile and 1.4% graphite.
Sun Silver (ASX:SS1) has put the finishing touches on its 7500m infill and extensional drilling program that will focus on a recently defined high-grade target zone at its Maverick Springs gold-silver project.
Terra Metals’ (ASX:TM1) drilling has more than doubled the strike of ‘Bushveld-like’ copper-PGE reefs at its Dante Reefs discovery in WA’s Musgrave province to over 9km.
Viridis Mining & Minerals (ASX:VMM) has expanded its Colossus REE project in Brazil following the grant of pivotal mining and exploration licences. This includes the Cupim South mining licence where drilling had returned results of up to 10,980ppm TREO.
At Stockhead, we tell it like it is. While BPM Minerals, GTI Energy, Leeuwin Metals, Miramar Resources, Ora Banda Mining, Sovereign Metals, Sun Silver, Terra Metals, Calmer Co, Melodiol and Viridis Mining & Minerals are Stockhead advertisers, they did not sponsor this article.
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