{"id":11873,"date":"2021-09-29T02:16:00","date_gmt":"2021-09-29T02:16:00","guid":{"rendered":"https:\/\/economicherald.net\/?p=11873"},"modified":"2021-09-29T02:16:00","modified_gmt":"2021-09-29T02:16:00","slug":"asx-small-cap-lunch-wrap-whos-taking-the-money-and-running-today","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11873","title":{"rendered":"ASX Small Cap Lunch Wrap: Who\u2019s taking the money and running today?"},"content":{"rendered":"<p>Danish artist Jens Haaning was given US$84,000 by the Kunsten Museum of Modern Art in Aalborg to create a work of art.<\/p>\n<p>But instead of using the cash to create the artwork, he instead returned two blank canvases which he renamed \u201cTake the Money and Run\u201d.<\/p>\n<p>A museum says they gave an artist $84,000 in cash to use in artwork. He delivered blank canvases and titled them \u201cTake the Money and Run.\u201d <a href=\"https:\/\/t.co\/EAC7pYdFkW\">https:\/\/t.co\/EAC7pYdFkW<\/a> <a href=\"https:\/\/t.co\/0MNqwxZO3j\">pic.twitter.com\/0MNqwxZO3j<\/a><\/p>\n<p>\u2014 CBS Sunday Morning  (@CBSSunday) <a href=\"https:\/\/twitter.com\/CBSSunday\/status\/1442911995343224833?ref_src=twsrc%5Etfw\">September 28, 2021<\/a><\/p>\n\n<p>\u201cJens is known for his conceptual and activistic art with a humoristic touch. And he gave us that \u2013 but also a bit of a wake-up call as everyone now wonders where did the money go,\u201d <a href=\"https:\/\/www.cbsnews.com\/news\/jens-haaning-take-the-money-and-run-blank-canvases\/?ftag=CNM-00-10aab8c&amp;linkId=133611837\">museum director Lasse Andersson said.<\/a><\/p>\n<p>The contract states that the money is not Haaning\u2019s and must be paid back when the exhibition closes on 16 January 2022.<\/p>\n<p>Andersson said the museum would wait and see what Haaning does, but if he doesn\u2019t return the money they will take the \u201cnecessary steps to ensure that Jens Haaning complies with his contract\u201d.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>To Markets \u2026<\/strong><\/h2>\n<p>The ASX 200 is down 123.10 points or 1.69% at midday today to 7,152.50.<\/p>\n<p>In Europe a range of factors (<em>cough cough<\/em> Brexit) have sent <a href=\"https:\/\/stockhead.com.au\/energy\/energy-crisis-the-poms-are-already-fighting-at-bowsers-and-were-only-just-getting-started\/\">gas and oil prices soaring.<\/a><\/p>\n<p>\u201cEnergy prices are on the rise once again today, with Brent crude hitting the highest level in almost three years,\u201d IG analyst Josh Mahony told Morningstar. \u201cSupply constraints appear to be coming at the wrong time, with demand gradually picking up steam.\u201d<\/p>\n<p>In the US, oil prices rose as supply constraints continued to draw on inventories around the world and the rally in natural gas prices also pushed up crude, according to ANZ Research analysts.<\/p>\n<p>But as traders booked profits on the recent rally, the Brent crude price fell 0.6% from 3-year highs to US$79.09 a barrel. And the US Nymex crude price fell by US16 cents or 0.2% to US$75.29 a barrel.<\/p>\n<p>Copper and nickel fell by up to 2% and the gold futures price fell by US$14.50 an ounce or 0.8% to U$1,737.50 an ounce, with spot gold trading near US$1,733 an ounce.<\/p>\n<p>Iron ore fell by US$6.30 a tonne or 5.3% to US$112.35 a tonne.<\/p>\n<p>Investors are closely monitoring the outcomes of many high-stakes deadlines on Capitol Hill this week, setting up potentially chaotic negotiations against the backdrop of expiring government funding and the threat of a possible US default.<\/p>\n<p>In testimony to the Senate, US Federal Reserve Chair, Jerome Powell, noted: \u201cAs reopening continues, bottlenecks, hiring difficulties, and other constraints could again prove to be greater and more enduring than anticipated, posing upside risks to inflation.\u201d<\/p>\n<p>\u201cThe sooner something there [Capitol Hill] happens, the happier the market will be,\u201d said JJ Kinahan TD Ameritrade\u2019s chief market strategist. \u201cWatching the sausage being made is always a really ugly process.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>ASX SMALL CAP WINNERS<\/strong><\/h2>\n<p><strong>Here are the best performing ASX small cap stocks for September 29 [intraday]:<\/strong><\/p>\n<p><strong><em>Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/strong><\/p>\n<p><strong><\/strong><\/p>\n<div class=\"supsystic-tables-wrap \">\n<div class=\"supsystic-tables-features\"><\/div>\n<p>Code Name Price % Change  Market Cap TVL Touch Ventures 0.56 40  $ 285,347,947.20 RDT Red Dirt Metals Ltd 0.845 34  $ 82,796,616.00 CLE Cyclone Metals 0.006 20  $ 23,896,184.91 DCX Discovex Res Ltd 0.006 20  $ 12,843,320.38 CAV Carnavale Resources 0.007 17  $ 14,581,381.82 SIQ Smartgrp Corporation 9.15 16  $ 1,049,639,954.94 WC8 Wildcat Resources 0.029 16  $ 12,937,500.00 OEL Otto Energy Limited 0.0115 15  $ 47,950,097.73 EVE EVE Investments Ltd 0.004 14  $ 13,450,996.62 NSX NSX Limited 0.11 13  $ 27,413,468.66 AFR African Energy Res 0.034 13  $ 20,601,318.90 CCZ Castillo Copper Ltd 0.036 13  $ 41,536,094.98 HCD Hydrocarbon Dynamic 0.018 13  $ 7,044,641.70 SBR Sabre Resources 0.0045 13  $ 6,732,254.60 MAY Melbana Energy Ltd 0.0245 11  $ 58,812,381.98 ALB Albion Resources 0.25 11  $ 6,962,979.38 LCT Living Cell Tech. 0.01 11  $ 5,142,968.83 LNY Laneway Res Ltd 0.005 11  $ 17,568,296.70 OEX Oilex Ltd 0.005 11  $ 25,597,936.60 MTC Metalstech Ltd 0.57 11  $ 85,005,894.85 CT1 Constellation Tech 0.011 10  $ 14,688,617.34 SHH Shree Minerals Ltd 0.011 10  $ 10,632,368.92 TSC Twenty Seven Co. Ltd 0.0055 10  $ 13,304,069.53 <!-- \/#supsystic-table-7119.supsystic-table --><\/p>\n<div class=\"stbConditionsData\"><\/div>\n<\/div>\n<p><!-- \/.supsystic-tables-wrap --><!-- Tables Generator by Supsystic --><!-- Version:1.10.36 --><!-- http:\/\/supsystic.com\/ --><a title=\"Wordpress Table Plugin\" href=\"https:\/\/supsystic.com\/plugins\/wordpress-data-table-plugin\/?utm_medium=love_link\" target=\"_blank\" rel=\"noopener\">WordPress Table Plugin<\/a><\/p>\n<p>\u00a0<\/p>\n<p>The biggest small cap winner was <a href=\"https:\/\/stockhead.com.au\/company\/touch-ventures-tvl\/\">Touch Ventures (ASX:TVL)<\/a>, up 40% after listing on the ASX today, raising $100 million at 40 cents a share supported by Afterpay and the Huljich family.<\/p>\n<p>Touch Ventures chairman Mike Jefferies said the ASX listing was a significant milestone for the company.<\/p>\n<p>\u201cA key investment objective for Touch Ventures is to deliver long-term absolute returns to shareholders, primarily from the capital appreciation of its portfolio,\u201d he said.<\/p>\n<p>\u201cOur structure also enables us to provide access to venture capital investments to investors as a company listed on the ASX.\u201d<\/p>\n<p>The company has also completed its investment into Refundid \u2013 an instant returns platform for shoppers providing a full refund to consumers before their items are returned to the merchants.<\/p>\n<p>The company invested $1 million to acquire a 10.4% equity interest (10.0% on a fully diluted basis) in Refundid and has agreed to provide a $1.0 million term loan facility to be used to fund customer refunds.<\/p>\n<p>\u201cWe were impressed by Brad and the team at Refundid having already built an incredible product, clientele and brand in such a short time frame and are proud to be a part of their journey as they enter their next phase of growth,\u201d TVL CEO Hein Vogel said.<\/p>\n<p>Next up was <a href=\"https:\/\/stockhead.com.au\/company\/red-dirt-metals-rdt\/\">Red Dirt Metals (ASX:RDT)<\/a>, up 34% on no news, followed by Cyclone Metals (ASX:CLE) and<a href=\"https:\/\/stockhead.com.au\/company\/discovex-resources-dcx\/\">DiscovEX Resources (ASX:DCX)<\/a>. Both were up 20% on no news.<\/p>\n<p>Up 17% was <a href=\"https:\/\/stockhead.com.au\/company\/carnavale-resources-cav\/\">Carnavale Resources (ASX:CAV)<\/a> off the back of its latest exploration update.<\/p>\n<p>The WA gold explorer said its initial aircore drilling was complete at the Ora Banda South Project \u2013 with results expected in mid-November.<\/p>\n<p>And salary packaging and fleet management provider <a href=\"https:\/\/stockhead.com.au\/company\/smartgroup-corporation-siq\/\">SmartGroup Corporation (ASX:SIQ)<\/a> rose 16% after getting a takeover offer from TPG Capital (the private equity group, not the telco) and Potentia Capital.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>ASX SMALL CAP LOSERS<\/strong><\/h2>\n<p><strong><\/strong><\/p>\n<div class=\"supsystic-tables-wrap \">\n<div class=\"supsystic-tables-features\"><\/div>\n<p>Code Name Price % Change  Market Cap CCE Carnegie Cln Energy 0.002 -33  $ 44,707,721.13 WOO Wooboard Tech Ltd 0.0015 -25  $ 7,644,325.48 MLS Metals Australia 0.002 -20  $ 10,567,970.12 YPB YPB Group Ltd 0.002 -20  $ 12,479,551.30 AIV Activex Limited 0.13 -19  $ 28,341,228.16 RMI Resource Mining Corp 0.025 -17  $ 9,776,822.46 RBR RBR Group Ltd 0.005 -17  $ 7,691,880.52 PGD Peregrine Gold 0.345 -16  $ 13,775,505.95 AUH Austchina Holdings 0.006 -14  $ 12,582,670.53 DDD 3D Resources Limited 0.003 -14  $ 13,581,302.32 EN1 Engage:Bdr Limited 0.0035 -13  $ 10,211,810.06 RNX Renegade Exploration 0.007 -13  $ 7,037,013.10 SUH Southern Hem Min 0.046 -12  $ 12,710,867.36 NAG Nagambie Resources 0.071 -11  $ 39,994,587.68 TKM Trek Metals Ltd 0.12 -11  $ 35,397,498.29 LSR Lodestar Minerals 0.008 -11  $ 11,618,436.13 AWN AWN Holdings Limited 0.76 -11  $ 33,660,170.00 CNJ Conico Ltd 0.043 -10  $ 48,010,313.95 AJQ Armour Energy Ltd 0.026 -10  $ 47,486,381.93 RLC Reedy Lagoon Corp. 0.026 -10  $ 15,660,758.81 MBK Metal Bank Ltd 0.009 -10  $ 11,890,683.04 SIH Sihayo Gold Limited 0.009 -10  $ 36,854,614.13 <!-- \/#supsystic-table-7120.supsystic-table --><\/p>\n<div class=\"stbConditionsData\"><\/div>\n<\/div>\n<p><!-- \/.supsystic-tables-wrap --><!-- Tables Generator by Supsystic --><!-- Version:1.10.36 --><!-- http:\/\/supsystic.com\/ --><a title=\"Wordpress Table Plugin\" href=\"https:\/\/supsystic.com\/plugins\/wordpress-data-table-plugin\/?utm_medium=love_link\" target=\"_blank\" rel=\"noopener\">WordPress Table Plugin<\/a><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/news\/asx-small-cap-lunch-wrap-whos-taking-the-money-and-running-today\/\">ASX Small Cap Lunch Wrap: Who\u2019s taking the money and running today?<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Danish artist Jens Haaning was given US$84,000 by the Kunsten Museum of Modern Art in Aalborg to create a work of art. But instead of <a href=\"https:\/\/economicherald.net\/?p=11873\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11874,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX Small Cap Lunch Wrap: Who\u2019s taking the money and running today? - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=11873\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Small Cap Lunch Wrap: Who\u2019s taking the money and running today? - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Danish artist Jens Haaning was given US$84,000 by the Kunsten Museum of Modern Art in Aalborg to create a work of art. 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