Weekly ASX small cap wrap: Market strength rusts away as iron sinks

It is not a good time to be in iron ore right now with benchmark fines falling US$9.44/t overnight to US$107.21/t on the back of Chinese steel production restrictions and the feared collapse of property giant Evergrande.

© Stockhead Australia Weekly ASX small cap wrap: Market strength rusts away as iron sinks

It gets worse with Rio Tinto and Brazil’s Vale both planning to ramp up output while China moves to increase the reuse of scrap steel.

But as it is usually the case in the resources sector, other commodities have been packing on the gains.

Uranium prices have seen significant growth in the past week though the jury is still out on whether this gain is sustainable or fuelled by hedge funds such as the Sprott Physical Uranium Trust.

Likewise, lithium has seen some big gains after Pilbara Minerals sold a cargo of 5.5% lithium spodumene concentrate for US$2,240/t, a 550% year-on-year increase.

To top it off, that price was secured for the low-grade stuff, not the more valuable 6% lithium concentrate.

The benchmark ASX200 is currently down 0.27% to 7,386.7 points.

 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for September 10 – September 17 [intraday]:

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

Code Company Price ReturnWRoll% MktCap$
MHK Metalhawk. 0.65 251 $ 28,068,250.00
ACB A-Cap Energy Ltd 0.135 101 $ 117,704,456.91
TOE Toro Energy Limited 0.044 100 $ 190,969,766.82
HNR Hannans Ltd 0.019 90 $ 49,559,521.03
TSC Twenty Seven Co. Ltd 0.0065 86 $ 21,286,511.24
AGE Alligator Energy 0.098 81 $ 278,357,366.10
GGX Gas2Grid Limited 0.0035 75 $ 10,115,255.20
CAU Cronos Australia 0.18 71 $ 7,293,750.00
KWR Kingwest Resources 0.12 64 $ 26,034,648.88
GTR Gti Resources 0.0425 63 $ 37,420,679.26
DLC Delecta Limited 0.0145 61 $ 15,129,318.08
92E 92Energy 0.79 58 $ 31,708,950.81
ICE Icetana Limited 0.135 57 $ 10,269,312.50
JPR Jupiter Energy 0.051 55 $ 9,816,172.35
OXX Octanex Ltd 0.034 55 $ 9,841,152.07
ERW Errawarra Resources 0.29 53 $ 9,851,616.39
ERA Energy Resources 0.465 52 $ 1,734,950,103.06
GLA Gladiator Resources 0.053 51 $ 24,470,594.72
THR Thor Mining PLC 0.021 50 $ 10,431,803.74
WFL Wellfully Limited 0.165 50 $ 34,620,376.89
CVS Cervantes Corp Ltd 0.009 50 $ 12,432,099.71
MDX Mindax Limited 0.063 50 $ 117,994,890.83
PBX Pacific Bauxite Ltd 0.003 50 $ 1,189,842.10
NPM Newpeak Metals 0.0015 50 $ 13,654,870.31
CLZ Classic Min Ltd 0.0015 50 $ 24,204,040.33
MRD Mount Ridley Mines 0.006 50 $ 30,090,741.43
PCL Pancontinental Oil 0.0015 50 $ 10,551,334.22
NXM Nexus Minerals Ltd 0.33 47 $ 85,453,084.85
LTR Liontown Resources 1.545 46 $ 2,988,451,524.85
LOT Lotus Resources Ltd 0.3 46 $ 307,164,420.16
AT1 Atomo Diagnostics 0.335 46 $ 151,215,424.69
PEN Peninsula Energy Ltd 0.3125 45 $ 338,646,182.90
MTC Metalstech Ltd 0.42 45 $ 65,851,219.77


Video: Analyst looks at Victoria’s latest data with 514 new local infections (ABC NEWS)

Metal Hawk (ASX:MHK) +251%

It’s early days for explorer Metal Hawk but hitting massive nickel sulphide mineralisation on its first try at the Commodore prospect near Kalgoorlie has proved rewarding for the company.

It noted that the greenfields discovery, for which assay results are not available yet, has mineralisation consistent with high-grade Kambalda style komatiite-hosted massive nickel sulphide deposits.

Not bad for a project that has never been tested for nickel.

A-Cap Energy (ASX:ACB) +101%

With its shares gaining on the back of no news, A-Cap Energy is the poster child for the uranium halo effect.

The company holds the Letlhakane uranium project in Botswana, but has cutting back expenses there to focus on its Wilconi copper-nickel project.

Toro Energy (ASX:TOE) +100%

Snapping at its heels is Toro, which at least has the excuse of releasing information on the first phase of the re-engineering study for its Lake Maitland uranium and vanadium deposit.

Vanadium resources are currently being integrated into the uranium resource block model for optimisation.

Lake Maitland is part of the company’s Wiluna uranium project in Western Australia, which has already received environmental approvals.

 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for September 10 – September 17 [intraday]:

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

Code Company Price % 1 Week MktCap$
VMS Venture Minerals 0.052 -39 $ 102,736,151.52
TOM Tomizone Limited 0.002 -33 $ 850,401.35
ADR Adherium Ltd 0.016 -30 $ 34,065,375.36
OSPDA Osprey Med Inc 0.87 -28 $ 22,835,444.67
NWF Newfield Resources 0.38 -27 $ 206,361,340.96
MLS Metals Australia 0.0015 -25 $ 8,454,376.09
WOO Wooboard Tech Ltd 0.0015 -25 $ 7,644,325.48
VIC Victory Mines Ltd 0.0015 -25 $ 13,100,505.54
ANL Amani Gold Ltd 0.0015 -25 $ 24,773,993.49
PCH Property Connect 0.0015 -25 $ 1,028,795.21
ECG Ecargo Hldg 0.025 -24 $ 15,381,250.00
GWR GWR Group Ltd 0.145 -22 $ 45,417,966.45
MYE Mastermyne Group Ltd 0.9075 -21 $ 97,913,376.47
JRL Jindalee Resources 2.56 -20 $ 160,745,937.66
1AG Alterra Limited 0.033 -20 $ 9,166,617.04
GES Genesis Resources 0.013 -19 $ 10,176,936.82
SRK Strike Resources 0.13 -19 $ 40,500,000.00
A1G African Gold Ltd. 0.285 -19 $ 25,594,196.32
BXN Bioxyne Ltd 0.028 -18 $ 17,924,071.14
MSI Multistack Internat. 0.043 -17 $ 4,829,068.73
WBT Weebit Nano Ltd 2.99 -17 $ 377,247,463.65
MGU Magnum Mining & Exp 0.075 -17 $ 38,777,303.29
OVT Ovato Limited 0.0025 -17 $ 30,532,030.63
RXM Rex Minerals Limited 0.275 -17 $ 167,861,462.30
CCE Carnegie Cln Energy 0.0025 -17 $ 44,707,721.13
NTL New Talisman Gold 0.0025 -17 $ 6,980,563.41
PTR Petratherm Ltd 0.056 -15 $ 11,736,150.55
GFN Gefen Int 0.69 -15 $ 42,029,411.10
VEE Veem Ltd 1.185 -15 $ 162,777,118.93
MKR Manuka Resources. 0.29 -15 $ 30,954,774.22
EX1 Exopharm Limited 0.47 -15 $ 77,033,651.17
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