ASX Small Cap Lunch Wrap: Who else is touching a 10-month high today?

Benchmark ASX 200 Index gains another 0.55% to midday, now at 10-month highs
NASDAQ and Dow Jones hit record highs overnight
Large Cap Winners: James Hardie, Lynas Rare Earths, Evolution Mining
Small Cap Winners: First Lithium, Godolphin, Entyr

The ‘Santa Rally’ – a tendency for the stock market to go up around the Christmas period — continues unchecked with the benchmark ASX 200 Index gaining another 0.55% to midday, eastern time.

It is now at 10-month highs.

Fun fact: the ASX has posted December gains in nine of the 13 years from 2010 but inked losses in three of the last five, not counting 2023 (because it isn’t over yet).

The ASX today followed the lead of Wall Street where both the NASDAQ and Dow Jones are at record highs.

Australian shares extended gains on Wednesday, led by gold and energy stocks in broad-based buying after the country’s central bank flagged signs of progress on inflation in its year-end policy meeting.

— CommSec (@CommSec) December 20, 2023

“If things keep heading the way they are, the S&P 500 will be at an all-time before the end of the year,” Capital’s Kyle Rodda says.

“The benchmark index is the most overbought on the daily charts since the so-called ‘Volmageddon’ melt-up and correction in early 2018.”

Volmaggedon – a portmanteau of ‘volatility’ and ‘Armageddon’ – refers to the sudden rise in market volatility on 5 February 2018 which sparked a one-day loss of more than 90% in the value of short volatility exchange-traded products (ETPs).

HOW ARE THE BIG STOCKS FARING TODAY?

Winners

James Hardie (ASX:JHX)

IDP Education (ASX:IEL)

Evolution Mining (ASX:EVN)

Lynas Rare Earths (ASX:LYC)

Losers

Orica (ASX:ORI)

Mercury NZ (ASX:MCY)

Infratil (ASX:IFT)

Fortescue Metals (ASX:FMG)

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for 20 December [intraday]:

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

CODE COMPANY PRICE % VOLUME MARKET CAP ME1 Melodiol Glb Health 0.002 100% 14,406,498 $4,728,824 FL1 First Lithium Ltd 0.685 71% 9,407,856 $28,020,667 ETR Entyr Limited 0.014 56% 23,408,083 $17,847,935 EMU EMU NL 0.0015 50% 13,425,000 $2,024,771 ENV Enova Mining Limited 0.014 40% 19,629,751 $6,409,293 DCX Discovex Res Ltd 0.002 33% 5,639,792 $4,953,852 LSR Lodestar Minerals 0.004 33% 2,210,000 $6,070,192 SCT Scout Security Ltd 0.02 33% 101,963 $3,486,411 GRL Godolphin Resources 0.05 28% 791,432 $6,600,439 ASP Aspermont Limited 0.01 25% 626,749 $19,510,110 BFC Beston Global Ltd 0.01 25% 3,710,094 $15,976,375 RVT Richmond Vanadium 0.335 24% 1,800 $23,276,108 MTC Metalstech Ltd 0.185 23% 1,223,294 $28,343,189 CZN Corazon Ltd 0.016 23% 229,600 $8,002,773 BMO Bastion Minerals 0.017 21% 4,800,080 $2,928,174 IEQ International Equiti 0.041 21% 12,199 $4,359,602 ADY Admiralty Resources. 0.006 20% 150,000 $6,517,896 LNR Lanthanein Resources 0.012 20% 4,869,976 $12,898,119 TMR Tempus Resources Ltd 0.006 20% 138,000 $1,725,725 VML Vital Metals Limited 0.006 20% 14,724,399 $29,475,335 WZR Wisr Ltd 0.0275 20% 95,305,912 $31,386,135 EVZ EVZ Limited 0.185 19% 140,214 $18,769,247 MVL Marvel Gold Limited 0.013 18% 171,915 $9,501,698 SZL Sezzle Inc. 25.1 17% 47,055 $45,432,919 POS Poseidon Nick Ltd 0.0105 17% 17,387,125 $33,421,813

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Tyre recycler Entyr (ASX:ETR) will sell 100% of its tyre pyrolysis oil, carbon char and recovered carbon black production to global commodities trader Trafigura.

~1 billion tyres go into landfill every year, the company says, with current recycling methods barely making a dent.

ETR, previously known as Pearl Global, says its low emissions tech turns old tyres into asphalt products, a diesel replacement, and scrap steel.

First Lithium (ASX:FL1) says “significant discovery confirmed!” at Blakala, part of the Gouna project in Mali.

The first 3 holes include an outstanding 111m intersection @ 1.57% Li2O, including a 10m chunk grading 3.39% Li2O from 33m depth.

That’s exceptionally thick, shallow, and high grade. The stock is up ~160% since it was backdoored into former crypto/mineral exploration stock Ookami earlier this year.

Minnow Enova (ASX:ENV) is now up +60% since announcing a deal to buy a Brazilian rare earths and lithium project on Monday.

Bastion Minerals (ASX:BMO) will buy a couple of lithium projects in the Gascoyne and Mt Ida regions, both popular addresses following Delta Lithium’s (ASX:DLI) recent drilling success.

And Godolphin (ASX:GRL) will sell its non-core Lewis Ponds and Mt Bulga projects in NSW for $11m.

Lewis Ponds contains a 6.2Mt at 2.g/t gold, 80g/t silver, 2.7% zinc, 1.6% lead and 0.2% copper resource. The Mt Bulga mine to the north was reported to have a copper grade of 6.5% and also has a historical resource from 1970.

GRL is now in a trading halt after the ASX asked for more info on the vendor, Minerals Pty Ltd.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for 20 December [intraday]:

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

CODE COMPANY PRICE % VOLUME MARKET CAP RGS Regeneus Ltd 0.003 -40% 113,000 $1,532,185 JAV Javelin Minerals Ltd 0.002 -33% 373,030 $3,264,347 YOJ Yojee Limited 0.003 -25% 130,189 $5,223,941 LRD Lordresourceslimited 0.05 -21% 287,944 $2,339,324 WEL Winchester Energy 0.002 -20% 75,000 $2,551,055 GBZ GBM Rsources Ltd 0.009 -18% 616,523 $6,823,540 SEN Senetas Corporation 0.015 -17% 400,582 $23,783,103 M2R Miramar 0.02 -17% 500,000 $3,572,869 AHN Athena Resources 0.003 -14% 220,000 $3,746,636 DVL Dorsavi Ltd 0.012 -14% 209,700 $8,353,263 MSG Mcs Services Limited 0.012 -14% 98,594 $2,773,395 PRX Prodigy Gold NL 0.006 -14% 2,968,127 $12,257,755 AVE Avecho Biotech Ltd 0.0035 -13% 250,069 $12,677,188 ODE Odessa Minerals Ltd 0.007 -13% 159,000 $7,576,895 RNX Renegade Exploration 0.007 -13% 428,571 $7,997,790 VRX VRX Silica Ltd 0.105 -13% 538,265 $70,005,426 NFL Norfolkmetalslimited 0.22 -12% 132,605 $8,831,249 ZNO Zoono Group Ltd 0.045 -12% 71,061 $10,305,089 PXA Pexagroup 10.95 -12% 1,216,089 $2,195,825,732 KMD KMD Brands Limited 0.67 -11% 1,188,563 $537,308,950 ASV Assetvisonco 0.008 -11% 451,250 $6,532,529 KOR Korab Resources 0.016 -11% 500,100 $6,606,900 MEL Metgasco Ltd 0.008 -11% 868,002 $9,574,981 PPY Papyrus Australia 0.016 -11% 125,000 $8,868,467 TMK TMK Energy Limited 0.008 -11% 6,270,806 $55,103,214

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The NZ Commerce Commission has now instituted proceedings against hand sanitiser maker Zoono (ASX:ZNO) — a market darling during the Covid-killing craze of 2019 — regarding its marketing claims relating to the longevity/efficacy of its products.

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