Closing Bell: ASX closes out choppy week, IPO rush continues, iron ore tanks

The ASX 200 has tracked lower in Friday trade, rounding out a choppy week where local stocks struggled for direction.

© Stockhead Australia asx closing iron ore

The index was dragged lower by another brutal session for the big miners as iron ore prices tanked again, led by a 15% drop for Fortescue (ASX:FMG).

However, it was comfortably outpaced by another strong session for the microcap Emerging Companies index, which finished around 1% higher on the day.

Elsewhere on local markets, two more small caps joined the ASX boards with strong debuts.

TODAY’S BIGGEST WINNERS

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price % Volume
OAK Oakridge 0.002 100 2124
W2V Way2Vatltd 0.315 58 18346111
A8G Australasian Gold 0.385 48 21303911
EFE Eastern Iron 0.043 39 271871219
TKM Trek Metals Ltd 0.13 33 2923888
ICE Icetana Limited 0.13 30 1383452
SSH Sshgroupltd 0.26 30 6516917
PPY Papyrus Australia 0.031 29 12891486
CAU Cronos Australia 0.19 27 1363677
WWI West Wits Mining Ltd 0.055 25 24542970
KFE Kogi Iron Ltd 0.016 23 9350201
THR Thor Mining PLC 0.022 22 61156286
ADO Anteotech Ltd 0.285 21 16418818
SMN Structural Monitor. 0.77 21 153171
CRB Carbine Resources 0.036 20 1273523
GGX Gas2Grid Limited 0.003 20 103741868
PKD Parkd Ltd 0.052 18 815486
ID8 Identitii Limited 0.23 18 2278634
BTR Brightstar Resources 0.033 18 620000
HWH Houston We Have Ltd 0.2 18 5901183
MKL Mighty Kingdom Ltd 0.17 17 205208
AXE Archer Materials 1.92 17 2894831
PNX PNX Metals Limited 0.007 17 2290787

Making an appearance on today’s winner’s list were two more IPOs — on-site safety company SSH Group (ASX:SSH) and fintech play Way2VAT (ASX:W2V).

Both stocks popped higher, with W2V initially almost doubling up before finishing around 50% higher. Get more details here.

Also near the top of the leaderboard was Eastern Iron (ASX:EFE), which held its gains after announcing a $1.05m share placement to strategic backer Ya Hua International Investment as part of the company’s pivot to lithium.

Accompanying that deal, ECE has received commitments for an additional $2.52m placement to sophisticated investors. The funds will be raised at 2.3c (along with options priced at 1.2c), leaving investors well in the money at today’s closing prices above 4c.

Another stock to post solid gains was hygiene company AnteoTech Ltd (ASX:ADO), which followed up yesterday’s 10% rally with a gain of more than 15% after signing a distribution deal into Greece and Cyprus for its EuGeni COVID-19 Antigen Rapid Test kit.

TODAY’S BIGGEST LOSERS

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price % Volume
VMS Venture Minerals 0.055 -29 79969185
JPR Jupiter Energy 0.046 -28 6703362
TSC Twenty Seven Co. Ltd 0.006 -25 101189642
YPB YPB Group Ltd 0.002 -20 4739430
HXL Hexima 0.37 -17 121096
RD1 Registry Direct 0.03 -17 822123
SRK Strike Resources 0.125 -17 4261824
SBR Sabre Resources 0.005 -17 9634000
WLD Wellard Limited 0.092 -16 649298
MGL Magontec Limited 0.39 -15 5423
ACP Audalia Res Ltd 0.012 -14 1283416
IPT Impact Minerals 0.013 -13 5139793
PG1 Pearl Global Ltd 0.033 -13 63486
BRB Breaker Res NL 0.275 -13 1774249
KEY KEY Petroleum 0.0035 -13 439888
EAX Energy Action Ltd 0.3 -12 20923
TIG Tigers Realm Coal 0.015 -12 1325878
JRL Jindalee Resources 2.66 -12 535260
HHI Health House Int Ltd 0.115 -12 64333
FMG Fortescue Metals Grp 15.27 -11 44744374
MIO Macarthur Minerals 0.515 -11 36988
ARE Argonaut Resources 0.008 -11 5333874
AUH Austchina Holdings 0.008 -11 8702680

 

ANNOUNCEMENTS YOU MAY’VE MISSED

Video analytics software company iCetana (ASX:ICE) rose in afternoon trade, before after announcing shortly before 1pm AEST that electronics giant Panasonic is building a “next-generation surveillance system” that will incorporate iCetana’s motion intelligence software.

Accent Resources (ASX:ACS) announced that the WA government has granted it a mining licence in connection with its iron ore project in the Magnetite Range. “The resource at Magnetite Range totals 434 million tonnes at 31.4% Fe at 15% weight recovery cut off”, ACS said.

Mining and infrastructure services company Decmil (ASX:DCG) confirmed that it’s secured an $88.7 million contract with Major Road Projects Victoria (MRPV) for the Barwon Heads Road Upgrade Work Package. The contract was previously preferred and is now contracted, Decmil said.

GBM Resources Limited (ASX:GBZ) announced the completion of a non-binding proposal for the sale of its fully-owned Brightlands Milo IOCG1 — a uranium and rare earths project in Queensland — to Canadian company Consolidated Uranium Inc (CUI). Subject to a 30-day due diligence period, CUI will pay a consideration of CAD$500,000 in cash and CAD$1.5m in CUI shares.

TRADING HALTS

Monday

Locksley Resources (ASX:LKY) – price and volume query

Avira Resources (ASX:AVW) – capital raising

Sunshine Gold (ASX:SHN) – capital raising

Comet Resources (ASX:CRL) – metallurgical test work results

Tuesday

Centrex Metals (ASX:CXM) – extension fee update

Noronex (ASX:NRX) – project acquisition and capital raising

TerraCom (ASX:TER) – refinancing update

Vango Mining (ASX:VAN) – drilling results

Epsilon Healthcare (ASX:EPN) – material order

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