-2.3% weekly loss for the benchmark ASX 200 Index — the worst fall since September last year
Aussie mining stocks continue to struggle, hitting their lowest point since November 2022
Weekly Winners: TASK Group, Narryer Metals, and Reach Resources
Weekly Loser: Osteopore, for raising $3m at a ludicrous 94.42% discount to last closing price
Your Macros
Aussie mining stocks continue to struggle, hitting their lowest point since November 2022.
That’s mostly thanks to weakening iron prices and flaccid Chinese construction.
New home prices in 70 Chinese cities fell 0.36% in February, albeit a slight improvement from January, after authorities stepped up efforts to salvage the beleaguered property market. #ausecon #auspol @CommSec pic.twitter.com/8PVPoQM3Mr
— CommSec (@CommSec) March 15, 2024
(Sounds dire, but fancy new home prices actually falling. How good.)
Even soaring oil prices – which hit four-month highs on Thursday — couldn’t stop Energy Co’s recording a weekly fall.
The bad news continued with financials, with the sub index including the ‘Big Four’ banks posting its first weekly decline since November last year.
The culminated in a -2.3% weekly loss for the benchmark ASX 200 Index, despite a strong late Friday rally. That’s the worst weekly fall since September last year.
Here are the best and worst performing #ASX200 stocks this week. Strike Energy $STX did best on the back of a solid production update, while Core Lithium $CXO was the worst performer after disappointing half year results. pic.twitter.com/T4ahxBQDns
— CommSec (@CommSec) March 15, 2024
IPO Watch
Listing this week has uranium/ copper/ critical minerals-focused minnow Litchfield Minerals (ASX:LMS), which has a bunch of early stage ground in the Northern Territory.
It started trading late morning Friday, and rode day one volatility to a small 5% loss.
ASX Small Cap Winners This Week
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Week Market Cap TSK Task Group Holdings 0.8 108% $279,708,923 JAV Javelin Minerals Ltd 0.002 100% $4,352,462 NYM Narryer Metals 0.05 79% $2,575,172 MAG Magmatic Resrce Ltd 0.08 78% $32,057,672 RR1 Reach Resources Ltd 0.0035 75% $9,835,977 ASP Aspermont Limited 0.012 71% $22,100,712 IS3 I Synergy Group Ltd 0.012 71% $3,344,884 5GG Pentanet 0.089 71% $18,686,361 LBT LBT Innovations 0.027 69% $32,809,693 CVR Cavalier Resources 0.18 64% $5,570,060 AQC Auspac Coal 0.094 59% $48,731,921 BP8 BPH Global Ltd 0.0015 50% $2,931,174 GCR Golden Cross 0.003 50% $3,291,768 PKO Peako Limited 0.006 50% $3,162,508 SIH Sihayo Gold Limited 0.0015 50% $18,306,384 SIT Site Group Int Ltd 0.003 50% $7,807,471 IG6 International Graphite 0.155 48% $12,903,276 RMI Resource Mining Corp 0.022 47% $13,031,652 NYR Nyrada In. 0.11 43% $15,600,870 RAC Race Oncology Ltd 1.44 41% $217,611,753 OLL Open Learning 0.024 41% $6,428,858 POD Podium Minerals 0.038 41% $15,916,137 ARU Arafura Rare Earths 0.23 39% $600,678,570 BGT Bio-Gene Technology 0.069 38% $13,491,225 GCX GCX Metals Limited 0.056 37% $14,759,005 AIS Aeris Resources Ltd 0.15 36% $135,453,576 GTE Great Western Exploration 0.064 36% $21,228,648 WZR Wisr Ltd 0.046 35% $61,407,656 1TT Thrive Tribe Tech 0.027 35% $7,712,159 ASH Ashley Services Grp 0.27 35% $33,114,458 ANR Anatara Ls Ltd 0.039 34% $6,715,749 SRL Sunrise 0.515 34% $40,151,237 AGR Aguia Res Ltd 0.02 33% $11,589,724 HLX Helix Resources 0.004 33% $8,131,010 LNU Linius Tech Limited 0.002 33% $10,393,481 MRQ MRG Metals Limited 0.002 33% $5,050,237 RIE Riedel Resources Ltd 0.004 33% $7,783,425 SRY Story-I Limited 0.004 33% $1,505,619 BDT Birddog 0.073 33% $13,319,835 RHT Resonance Health 0.073 33% $31,282,505 VUL Vulcan Energy 3.46 32% $600,534,798 TSI Top Shelf 0.23 31% $45,743,689 HXG Hexagon Energy 0.017 31% $8,206,654 KNI Kuniko 0.28 30% $22,043,288 DMG Dragon Mountain Gold 0.009 29% $3,552,045 PVL Powerhouse Ven Ltd 0.045 29% $5,433,443 COE Cooper Energy Ltd 0.1925 28% $514,807,455 BMR Ballymore Resources 0.125 28% $22,922,976 ARL Ardea Resources Ltd 0.695 28% $130,031,164 BUS Bubalus Resources 0.14 27% $4,826,051
ASX Small Cap Laggards This Week
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Week Market Cap CPM Cooper Metals 0.13 -59% $10,969,791 OSX Osteopore Limited 0.05364 -54% $554,031 AXP AXP Energy Ltd 0.001 -50% $11,649,361 SLZ Sultan Resources Ltd 0.014 -46% $2,319,888 ACS Accent Resources NL 0.006 -40% $2,838,764 NAG Nagambie Resources 0.015 -40% $11,949,535 ME1 Melodiol Global Health 0.0045 -36% $1,964,980 LKE Lake Resources 0.074 -36% $119,621,923 ADS Adslot Ltd 0.002 -33% $6,448,991 AL8 Alderan Resource Ltd 0.004 -33% $4,980,876 FAU First Au Ltd 0.002 -33% $3,323,987 ICU Investor Centre Ltd 0.014 -33% $4,244,773 RBR RBR Group Ltd 0.002 -33% $3,268,809 TKL Traka Resources 0.001 -33% $3,501,317 WHK Whitehawk Limited 0.023 -30% $10,160,471 HHR Hartshead Resources 0.007 -30% $19,660,775 IR1 Irismetals 0.45 -30% $63,472,141 MOM Moab Minerals Ltd 0.005 -29% $4,983,744 TG1 Techgen Metals Ltd 0.029 -28% $4,068,242 OPL Opyl Limited 0.022 -27% $4,735,610 PKD Parkd Ltd 0.022 -27% $2,288,305 ABE Australian Bond Exchange 0.028 -26% $3,380,043 CKA Cokal Ltd 0.073 -26% $79,842,225 1AG Alterra Limited 0.003 -25% $2,612,072 CT1 Constellation Tech 0.0015 -25% $2,212,101 CYQ Cycliq Group Ltd 0.003 -25% $1,072,550 EXL Elixinol Wellness 0.006 -25% $3,797,230 HCD Hydrocarbon Dynamic 0.003 -25% $2,425,747 NES Nelson Resources. 0.003 -25% $1,840,783 TMG Trigg Minerals Ltd 0.006 -25% $2,511,296 VPR Volt Power Group 0.0015 -25% $16,074,312 WFL Wellfully Limited 0.003 -25% $1,478,832 BEX Bikeexchange Ltd 0.425 -24% $7,921,279 SLM Solismineralsltd 0.095 -24% $8,198,111 BRX Belararox 0.255 -24% $19,154,885 LML Lincoln Minerals 0.005 -23% $10,224,272 ICE Icetana Limited 0.027 -23% $7,144,968 AKN Auking Mining Ltd 0.017 -23% $4,471,720 MIO Macarthur Minerals 0.097 -22% $16,126,588 APL Associate Global 0.07 -22% $3,954,470 NRZ Neurizer Ltd 0.0035 -22% $4,504,232 TG6 TG Metals 0.18 -22% $10,276,372 PBL Parabellum Resources 0.062 -22% $3,862,600 AMD Arrow Minerals 0.0055 -21% $37,918,825 ABB Aussie Broadband 3.55 -21% $1,047,905,816 QUE Queste Communication 0.052 -21% $1,407,761 SYR Syrah Resources 0.55 -21% $466,041,723 EDE Eden Inv Ltd 0.002 -20% $7,356,542 GCM Green Critical Min 0.004 -20% $4,546,340 HTM High-Tech Metals Ltd 0.12 -20% $2,970,179
The post ASX Small Caps and IPO Weekly Wrap: Mining stocks just hit their lowest point since November 2022 appeared first on Stockhead.
