11 hours ago
Closing Bell: ASX arrests slide to fall just 0.2pc as utilities sector leads recovery
ASX pulls back from 0.55pc slide to dip 0.21pc
Utilities leads recovery, up 0.74pc
ASX All Ord Gold index climbs 0.62pc
ASX pulls out of tailspin to make up ground
While the ASX closed lower today, down 0.21%, it was looking a lot worse around lunchtime, when the bourse was 0.55% in the red.
The market managed to put the breaks on its slide, with the utilities (+0.74%) sector in particular providing support, followed by industrials, health care and info tech.
Standouts in those sectors included Dimerix (ASX:DXB) up 9.8%, ZIP Co (ASX:ZIP) adding 5.9%, Droneshields (ASX:DRO) up 5.6% and Fluence Corporation (ASX:FLC) jumping 13.8%.
The ASX All Ord Gold index (+0.62%) also put in some work, alongside the Small Ords (+0.19%).
The ASX lost 0.49% over the last five trading days, now sitting 1.55% off its 52-week high.
ASX SMALL CAP LEADERS
Today's best performing small cap stocks:
Security Name Last % Change Volume Market Cap
PV1 Provaris Energy Ltd 0.015 50% 3831208 $6,980,013
E79 E79Goldmineslimited 0.028 40% 2009033 $3,168,253
MOH Moho Resources 0.004 33% 5000 $2,236,242
RNX Renegade Exploration 0.004 33% 521227 $3,865,090
HAW Hawthorn Resources 0.068 28% 634353 $17,755,827
BMO Bastion Minerals 0.002 27% 22379119 $1,419,960
NSB Neuroscientific 0.078 26% 991242 $8,965,502
ALM Alma Metals Ltd 0.005 25% 807408 $6,345,381
AUK Aumake Limited 0.0025 25% 176755 $6,046,718
CUL Cullen Resources 0.005 25% 183700 $2,773,607
FIN FIN Resources Ltd 0.005 25% 100000 $2,779,554
GGE Grand Gulf Energy 0.0025 25% 1458526 $5,640,850
JAV Javelin Minerals Ltd 0.0025 25% 651325 $12,252,298
MEM Memphasys Ltd 0.005 25% 1004099 $7,934,392
HCL Highcom Ltd 0.295 23% 641196 $24,643,841
HAR Harangaresources 0.065 20% 4915026 $11,585,428
MCA Murray Cod Aust Ltd 1.045 20% 124393 $92,023,850
AJL AJ Lucas Group 0.006 20% 356600 $6,878,648
TON Triton Min Ltd 0.006 20% 2099975 $7,841,944
HIQ Hitiq Limited 0.02 18% 3191499 $6,885,382
BAS Bass Oil Ltd 0.027 17% 2429874 $7,345,899
AHN Athena Resources 0.007 17% 6103136 $13,595,742
BGE Bridgesaaslimited 0.014 17% 61111 $2,398,310
NAE New Age Exploration 0.0035 17% 50877 $8,117,734
PGY Pilot Energy Ltd 0.007 17% 4218242 $12,951,960
Making news…
Hydrogen compression and shipping solution company Provaris Energy (ASX:PV1) has teamed up with global shipping leader 'K' LINE.
K LINE, otherwise known as Kawasaki Kisen Kaisha, will provide technical, commercial and operation support, offering its extensive global shipping expertise as PV1 develops its hydrogen transport and storage model.
PV1's main focus is the proprietary H2Neo Carrier and H2Leo Barge, which offer a combination of offshore compression, storage and shipping solutions for hydrogen gas transportation.
Bastion Minerals (ASX:BMO) has tapped John Ribbons as company secretary, effective immediately. The appointment follows the resignation of Justin Clyne, who exits on good terms with the board and will make himself available during the transition.
Ribbons will fill dual roles, as he already holds the position of chief financial officer for BMO as well.
ASX SMALL CAP LAGGARDS
Today's worst performing small cap stocks:
Security Name Last % Change Volume Market Cap
RPG Raptis Group Limited 0.044 -73% 2637660 $56,109,577
CT1 Constellation Tech 0.001 -50% 1542725 $2,949,467
BCB Bowen Coal Limited 0.18 -49% 2933425 $37,715,145
BEL Bentley Capital Ltd 0.008 -33% 7852 $913,535
ENT Enterprise Metals 0.002 -33% 2756 $3,543,952
FTC Fintech Chain Ltd 0.002 -33% 530785 $1,952,309
PKO Peako Limited 0.002 -33% 2925298 $4,463,226
RLC Reedy Lagoon Corp. 0.001 -33% 135000 $1,165,060
SHP South Harz Potash 0.002 -33% 310000 $3,308,186
ADD Adavale Resource Ltd 0.0015 -25% 186313 $4,574,558
AFA ASF Group Limited 0.003 -25% 79842 $3,169,590
ASR Asra Minerals Ltd 0.0015 -25% 577297 $7,983,396
EEL Enrg Elements Ltd 0.0015 -25% 16582818 $6,507,557
VFX Visionflex Group Ltd 0.0015 -25% 199999 $6,735,721
HPC Thehydration 0.01 -23% 4074374 $4,982,912
WEC White Energy Company 0.035 -20% 212 $13,711,276
EXT Excite Technology 0.008 -20% 2685646 $20,726,419
MTB Mount Burgess Mining 0.004 -20% 409514 $1,758,513
OEL Otto Energy Limited 0.004 -20% 3458960 $23,975,049
SKK Stakk Limited 0.004 -20% 5016 $10,375,398
VRC Volt Resources Ltd 0.004 -20% 1463043 $23,423,890
ODY Odyssey Gold Ltd 0.019 -17% 5122049 $20,674,036
GUL Gullewa Limited 0.068 -17% 420322 $17,877,818
HMG Hamelingoldlimited 0.069 -17% 66142 $16,340,625
AMS Atomos 0.005 -17% 1700232 $7,290,111
In the news...
Bowen Coking Coal (ASX:BCB) has signalled it's considering placing the Burton Mine Complex operation into a temporary pause if an effort to transition the project to an owner-operator model is unsuccessful.
The company is exploring a range of options to fund the transition plan and provide immediate liquidity, but the most recent Resources and Energy Quarterly forecasts falling demand for met coal as low emissions steel production gains pace.
Atomos (ASX:AMS) has launched a new employee incentive plan, with over half of the company's roll to be offered defined annual bonuses linked to share price performance.
AMS says the incentives are a way to recognise the contributions of staff who worked tirelessly on minimal salaries over the last few years, and aligns employee interests with those of shareholders.
IN CASE YOU MISSED IT
Pure Hydrogen Corporation (ASX:PH2) has completed the handover of a Taurus hydrogen fuel cell prime mover to Barwon Water, Victoria's largest regional urban water corporation.
Legacy Minerals (ASX:LGM) has wrapped up its first drilling campaign at the Thomson project, intersecting wide zones of quartz-sulphide mineralisation.
Cyclone Metals' (ASX:CLE) power study has highlighted potential to power the Iron Bear project entirely with renewable energy.
TRADING HALTS
AIC Mines (ASX:A1M) – cap raise
betr Entertainment (ASX:BBT) – off-market takeover offer for PointsBet
GBM Resources (ASX:GBZ) – cap raise and board changes
Great Boulder Resources (ASX:GBR) – cap raise
New Murchison Gold (ASX:NMG) – Crown Prince project approvals update
Victory Metals (ASX:VTM) – strategic alliance and funding facility
Zenith Minerals (ASX:ZNC) – resource update for Dulcie Far North gold project
LAST ORDERS
Hillgrove Resources (ASX:HGO) is ahead of schedule on development efforts at the Nugent underground, hitting the orebody at the Kanmantoo copper mine earlier than expected.
It's the first development ore produced at the Nugent underground operation, marking an important milestone toward formal ore production.