ASX Small Caps and IPO Weekly Wrap: Up days, down days = flat days; Medtech multiplies its mojo

At times it looked good but the benchmark finishes the week flat
Once struggling Healthcare sector leads – up +5%
TechGen Metals soars 357% on positive gold, lithium updates

It’s been a topsy-turvy week on the Australian bourse, starting higher, finishing down with a mixture of higher and lower days in between. The result the benchmark S&P ASX 200 has finished flattish, just 0.2% up.

On Tuesday the Melbourne Cup was run and won by Without A Fight and the RBA resumed its tightening cycle, lifting the cash rate to 4.35%.

Odds were in favour of a hike after the central bank held rates steady for four consecutive months. It was the 13th rate hike since May last year, taking the cash rate to its highest level in more than a decade.

Then on Wednesday more than 10 million Optus customers woke into the dark ages – lost and bewildered – with a nationwide outage.

Lasting nearly 14 hours until full services were restored Optus says the longest and largest outage in recent times was caused by a “technical network fault”, but is yet to specify details.

The outage impacted businesses, hospitals, medical, education, transport and government services with many people used to constant internet and phone connection seen day-dreaming out the window on a train or bus.

There were even grumpy cats and dogs fed late because the wifi-connected pet feeder didn’t work. If we’ve learned anything from the Optus fiasco perhaps it’s we’ve become to reliant on electronics.

Go back to basics, relish some daydreaming time, ditch the wifi-connected pet feeder and just yell at the kids to go feed the damn dog!

On Friday Markets got spooked again after a hawkish US Federal Reserve chair Jerome Powell told the Monetary Fund conference in Washing DC “if it becomes appropriate to tighten policy further, we will not hesitate to do so”.

Healthcare out in front for week

Source: Market Index

The struggling healthcare found its mojo to led the winners this week, much to the delight of Morgan’s healthcare analyst Scott Power who has been hoping for a strong end to 2023.

Industrials and real estate were also leading the green, while energy and materials led the laggards.

ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks from November 6-10:

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

Code Company Price % Week Market Cap TG1 Techgen Metals Ltd 0.105 357% $2,083,544 IMU Imugene Limited 0.105 144% $788,147,234 AZL Arizona Lithium Ltd 0.037 131% $92,926,009 WML Woomera Mining Ltd 0.026 117% $23,873,891 TG6 TG Metals 0.895 111% $34,860,833 NSM Northstaw 0.091 107% $11,111,748 AVW Avira Resources Ltd 0.002 100% $4,267,580 GRE Greentechmetals 0.82 100% $42,621,666 MHK Metalhawk. 0.195 95% $15,360,347 8IH 8I Holdings Ltd 0.012 86% $4,288,272 NAG Nagambie Resources 0.035 75% $19,778,695 OZM Ozaurum Resources 0.145 69% $24,606,250 MCT Metalicity Limited 0.0025 67% $10,627,715 XGL Xamble Group Limited 0.075 67% $21,311,718 WSP Whispir Limited 0.485 62% $63,591,141 STK Strickland Metals 0.1675 52% $281,268,068 EFE Eastern Resources 0.012 50% $13,661,411 NIS Nickel Search 0.093 50% $15,709,138 ARV Artemis Resources 0.033 50% $45,745,133 PIM Pinnacle Minerals 0.275 49% $7,416,750 CHR Charger Metals 0.36 47% $20,497,741 PNR Pantoro Limited 0.047 47% $202,957,190 BYH Bryah Resources Ltd 0.019 46% $5,737,685 MXC MGC Pharmaceuticals 0.66 43% $21,258,295 AR9 Archtis Limited 0.14 40% $39,981,246 ALV Alvomin 0.305 39% $24,679,533 ECG Ecargo Holdings 0.054 38% $33,223,500 ZNC Zenith Minerals Ltd 0.165 38% $58,142,846 RDN Raiden Resources Ltd 0.048 37% $116,793,258 NAE New Age Exploration 0.0075 36% $12,557,292 BLU Blue Energy Limited 0.023 35% $37,019,472 KZR Kalamazoo Resources 0.115 35% $20,564,337 SLB Stelar Metals 0.35 35% $19,205,932 SUM Summit Minerals 0.125 34% $5,718,855 JAN Janison Education Group 0.315 34% $72,433,317 AHN Athena Resources 0.004 33% $4,281,870 AVE Avecho Biotech Ltd 0.004 33% $10,793,168 CT1 Constellation Tech 0.004 33% $5,884,801 CXU Cauldron Energy Ltd 0.012 33% $13,585,961 ENT Enterprise Metals 0.004 33% $2,398,413 EXL Elixinol Wellness 0.012 33% $7,576,126 GSN Great Southern 0.028 33% $19,620,515 HCD Hydrocarbon Dynamic 0.008 33% $5,197,327 KEY KEY Petroleum 0.002 33% $3,935,856 M4M Macro Metals Limited 0.004 33% $7,948,311 MTH Mithril Resources 0.002 33% $6,737,609 OAR OAR Resources Ltd 0.004 33% $9,145,975 PNX PNX Metals Limited 0.004 33% $21,522,499 SRY Story-I Limited 0.004 33% $1,505,619 TZL TZ Limited 0.032 33% $8,216,260

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TechGen Metals (ASX:TG1) soared 357% this week after announcing stage-three drilling had been approved for its John Bull gold project in Glen Innes in NSW.

In a further positive for TGN pegmatite mapping will start at Ida Valley in WA, with historic data identifying lithium and caesium in soils up to 144.5ppm Li (311ppm Li2O) along the Ida Fault.

Clinical stage immuno-oncology small cap and Morgan’s analyst Iain Wilkie’s stock of the week Imugene (ASX:IMU) is up 144% in the past five days after releasing two good announcements.

On Monday IMU provided a positive clinical trial update of its Phase 1 MAST (Metastatic Advanced Solid Tumours) trial evaluating its novel cancer-killing virus, CF33-hNIS (VAXINIA).

Today IMU also announced dosing of the first patient in its Phase 1b clinical trial using Azer-cel(an allogeneic off-the-shelf CD19 CAR T, a type of cell therapy).

Adelaide-based small-capped explorer of gold, PGEs, nickel, copper, cobalt and lithium too Woomera Mining (ASX:WML) is up after announcing it had raised $2.1 million after issuing a total of 237,500,004 ordinary shares at $0.009/share to professional and sophisticated investors.

ASX SMALL CAP LAGGARDS

Here are the best performing ASX small cap stocks from November 6-10:

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

Code Company Price % Week Market Cap TMR Tempus Resources Ltd 0.007 -50% $2,400,460 BOD BOD Science Ltd 0.031 -45% $6,029,509 REM Remsense Technologies 0.035 -40% $3,244,233 SRN Surefire Rescs NL 0.01 -38% $16,549,349 BP8 BPH Global Ltd 0.001 -33% $2,423,345 RBR RBR Group Ltd 0.002 -33% $3,236,809 YPB YPB Group Ltd 0.002 -33% $1,560,923 TGH Terragen 0.019 -32% $7,012,541 IDX Integral Diagnostics 1.85 -30% $427,250,043 FGL Frugl Group Limited 0.01 -29% $9,560,620 MNS Magnis Energy Tech 0.052 -29% $97,159,350 MPG Many Peaks Gold 0.22 -27% $8,002,386 HOR Horseshoe Metals 0.008 -27% $5,147,829 FLC Fluence Corporation 0.0905 -26% $83,570,471 ADR Adherium Ltd 0.003 -25% $14,998,225 AMD Arrow Minerals 0.0015 -25% $6,047,530 DXN DXN Limited 0.0015 -25% $2,585,010 HNR Hannans Ltd 0.006 -25% $16,385,129 MTC Metalstech Ltd 0.12 -25% $22,632,551 PVS Pivotal Systems 0.003 -25% $2,305,138 SCT Scout Security Ltd 0.012 -25% $2,771,129 SIH Sihayo Gold Limited 0.0015 -25% $18,306,384 WFL Wellfully Limited 0.003 -25% $1,478,832 MCL Mighty Craft Ltd 0.013 -24% $4,737,753 GBZ GBM Rsources Ltd 0.016 -24% $9,304,827 IAM Income Asset 0.08 -24% $24,949,916 BVR Bellavista Resources 0.095 -24% $4,582,652 DTC Damstra Holdings 0.185 -24% $60,602,292 A1G African Gold Ltd. 0.031 -23% $6,095,204 HPR High Peak Royalties 0.05 -23% $10,402,986 VRX VRX Silica Ltd 0.1 -23% $64,171,640 FBR FBR Ltd 0.018 -22% $75,523,638 LVH Livehire Limited 0.042 -22% $15,378,015 GBE Globe Metals & Mining 0.038 -21% $23,655,366 AD1 AD1 Holdings Limited 0.004 -20% $3,290,276 AJQ Armour Energy Ltd 0.1 -20% $10,312,011 FAU First Au Ltd 0.002 -20% $2,903,987 MHC Manhattan Corp Ltd 0.004 -20% $11,747,919 MRQ MRG Metals Limited 0.002 -20% $4,411,837 NGS NGS Ltd 0.008 -20% $2,261,047 R3D R3D Resources Ltd 0.048 -20% $7,259,427 RGS Regeneus Ltd 0.004 -20% $1,225,748 ROO Roots Sustainable 0.004 -20% $613,250 SIS Simble Solutions 0.004 -20% $2,411,803 TMX Terrain Minerals 0.004 -20% $5,413,711 OMX Orange Minerals 0.035 -20% $1,721,256 OKJ Oakajee Corp Ltd 0.022 -19% $2,011,813 LML Lincoln Minerals 0.0065 -19% $11,623,583 CUS Copper Search 0.15 -19% $12,773,231 BNZ Benz Mining 0.32 -19% $35,739,672

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Who won the days?

Monday – Whispir (ASX:WSP) rose 61% after former Appen (ASX:APX) boss Mark Brayan run Soprano Design lobbed an off-market takeover play for all shares in the tech company for 48/cents or ~$64 million.

Tuesday –clinical stage immuno-oncology upstart, Imugene (ASX:IMU) rose 25% after releasing a promising clinical trial update of its Phase 1 MAST (Metastatic Advanced Solid Tumours) trial evaluating the safety and efficacy of novel cancer-killing virus CF33-hNIS (VAXINIA).

Wednesday – Magnetite miner Cyclone Metals (ASX:CLE) finished up 100% on no real news. Last week it announced it had appointed metallurgist Paul Vermeulen as general manager of technology and steel markets.

Thursday – Krakatoa Resources (ASX:KTA) was up 65% after completing drilling at its King Tamba project in WA’s Mid West region, which has been expanded after the intersection of a thick pegmatite with a width of up to 39m under the target area.

Friday – Rubix Resources (ASX:RB6)gained after announcing a cultural heritage survey will start on November 30 at its Lake Johnston lithium project in WA with a program of works for its maiden drilling program approved.

IPOs this week

Great Dirt Resources (ASX:GR8) listed today after raising $5 million at 20 cents. The battery-grade manganese explorer saw its shares rise 7.5% to 21.5 finishing the day with a market cap of $6,049,833.

GR8 is focused on exploration of battery-grade manganese in the Barraba region of New South Wales, with historical records showing mineral production in the area dating back to 1941.

Tempest Minerals – TEM backed Tolu Minerals (ASX:TOK) also listed today after raising $15 million at 50 cents. Tolu says its strategically positioned to participate in the renaissance of the PNG mining sector and saw its shares rise 10% to 55 cents finishing the day with a market cap of $32,318,464.

TEM invested $1 million in seed funding at and issue price of 37 cents to assist in its acquisition of the flagship Tolukuma Gold Mine.

According to the ASX website there are no scheduled IPO listings for next week.

At Stockhead, we tell it like it is. While Krakatoa Resources and Rubix Resources are Stockhead advertisers, they did not sponsor this article.

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