Closing Bell: ASX pulls off soft landing after US markets plummet
Gold stocks lead gains with index up 3.57pc
Info tech and financials slide on US market losses
ASX sticks the landing
Although all indicators were pointing to a down day on the ASX to start the week, the Aussie bourse has managed to finish just about flat, adding 1.7 points to lift 0.02%.
US markets crashed out overnight in response to the full imposition of Liberation Day tariffs (though most are far lower than originally threatened) and some abysmally weak employment data.
The S&P 500 sank 1.6%, the Nasdaq lost 2.2% and the Dow shed more than 500 points after one of the worst US jobs reports since 2010.
Weakening sentiment hit our banks and info tech sectors hard, with similar losses in energy and industrials.
Block Inc (ASX:XYZ) shed 4.3%, billing management software company Gentrack (ASX:GTK) slid 4.6% and aluminium giant Alcoa (ASX:AAI) fell 3.7%.
Lucky for the ASX, the sharp lift in market uncertainty also drove gold prices 2% higher, lifting to US$3399.80 per ounce before retreating marginally to US$3355.95 an ounce today.
The ASX All Ords Gold index responded with a 3.57% surge, pulling the ASX 200 Resources with it (+0.97%).
Today's biggest movers are unsurprisingly dominated by gold stocks. Kingsgate (ASX:KCN) jumped 13%, Pantoro Gold (ASX:PNR) added 6.7% and Northern Star Resources (ASX:NST) lifted 6%.
In small caps, Catalyst Metals (ASX:CYL) added 9%, and Meteoric Resources (ASX:MEI) 8% and Vault Minerals (ASX:VAU) 7.4%.
ASX SMALL CAP LEADERS
Today's best performing small cap stocks:
Code Name Last % Change Volume Market Cap
EDEDA Eden Inv Ltd 0.05 127% 1286951 $4,520,869
LNR Lanthanein Resources 0.002 100% 3601107 $3,734,001
AIV Activex Limited 0.016 60% 109305 $2,155,026
LM1 Leeuwin Metals Ltd 0.15 52% 4433301 $9,979,832
TMB Tambourahmetals 0.037 42% 78477813 $4,302,377
1TT Thrive Tribe Tech 0.008 33% 2434001 $609,518
SFG Seafarms Group Ltd 0.002 33% 650452 $7,254,899
WTM Waratah Minerals Ltd 0.39 32% 5183179 $68,886,118
LKY Locksleyresources 0.18 29% 34791033 $25,666,666
PIM Pinnacleminerals 0.083 28% 1820844 $2,955,116
RHY Rhythm Biosciences 0.076 27% 1804972 $17,044,837
TMG Trigg Minerals Ltd 0.11 26% 52537950 $94,906,711
CYQ Cycliq Group Ltd 0.005 25% 2160120 $1,842,067
OZM Ozaurum Resources 0.08 25% 3229075 $14,662,520
TMK TMK Energy Limited 0.0025 25% 1041956 $20,444,766
NAG Nagambie Resources 0.016 23% 1219574 $10,442,930
MCM Mc Mining Ltd 0.135 23% 7853 $70,806,140
GBZ GBM Rsources Ltd 0.023 21% 4922092 $26,901,361
CCE Carnegie Cln Energy 0.065 20% 1419026 $19,774,987
AAU Antilles Gold Ltd 0.006 20% 6983624 $11,895,340
FAU First Au Ltd 0.006 20% 1943453 $10,381,456
IMU Imugene Limited 0.2975 19% 10583163 $72,124,334
EMP Emperor Energy Ltd 0.04 18% 4001798 $28,234,799
NIM Nimyresourceslimited 0.067 18% 600283 $13,707,405
AM5 Antares Metals 0.007 17% 4360244 $3,089,117
In the news…
Tambourah Metals (ASX:TMB) has struck bonanza gold up to 1m at 126 g/t gold from 30m at the Beatty Park South project, part of a larger intersection of 6m at 25.8 g/t gold.
The results confirm gold mineralisation stretches over at least 120m of a 400m gold-in-soil anomaly. TMB intends to extend air core drilling over the wider anomaly and nearby areas to drum up targets for a follow-up reverse circulation drilling program.
Rhythm Biosciences (ASX:RHY) has established that its second-generation ColoSTAT blood test kit is equally effective at detecting colorectal cancer across all stages (I to IV).
While RHY is still awaiting results from the final validation tests for the kits, the company expects to begin the commercial launch sometime in the 2025 calendar year.
Locksley Resources (ASX:LKY) is expanding an antimony drilling program to four targets at the Mojave project, California, with an eye to formulating a JORC-compliant exploration target.
LKY expects to have approvals in hand by September, with drilling to begin shortly after. The project sits just 1.4 km from MP Materials' Mountain Pass Mine, placing Locksley squarely in the US critical minerals corridor.
Waratah Minerals (ASX:WTM) has extended multiple gold zones at the Spur Gold Corridor project with very broad intersections up to 208.7m at 1.17 g/t gold from 514m.
Management says the hit is a pivotal result, demonstrating the presence of a new mineralised zone and a major extension of the Spur Gold Corridor, while also representing the best mineralised intersection at the project to date.
ASX SMALL CAP LAGGARDS
Today's worst performing small cap stocks:
Code Name Last % Change Volume Market Cap
EEL Enrg Elements Ltd 0.001 -33% 1 $4,880,668
MOM Moab Minerals Ltd 0.001 -33% 64800 $2,811,999
DMG Dragon Mountain Gold 0.009 -31% 2079164 $5,130,732
EAT Entertainment 0.003 -25% 740069 $5,235,144
GTR Gti Energy Ltd 0.003 -25% 29553387 $14,890,619
PAB Patrys Limited 0.0015 -25% 2117284 $4,731,620
ATV Activeportgroupltd 0.011 -21% 12438300 $9,617,679
PNN Power Minerals Ltd 0.062 -21% 6089121 $11,260,813
BIT Biotron Limited 0.002 -20% 35954 $3,318,115
SIS Simble Solutions 0.004 -20% 9044909 $5,411,652
VRC Volt Resources Ltd 0.004 -20% 11519212 $23,424,247
WBE Whitebark Energy 0.004 -20% 412400 $3,502,788
KNB Koonenberrygold 0.039 -18% 11521143 $48,690,885
14D 1414 Degrees Limited 0.025 -17% 91265 $8,748,755
IOD Iodm Limited 0.1 -17% 20000 $73,987,702
RMI Resource Mining Corp 0.015 -17% 1571761 $13,220,160
SRI Sipa Resources Ltd 0.015 -17% 2645799 $9,368,962
ADG Adelong Gold Limited 0.005 -17% 7307444 $13,492,060
ALY Alchemy Resource Ltd 0.005 -17% 145660 $7,068,458
BNL Blue Star Helium Ltd 0.005 -17% 546121 $16,169,312
DRE Dreadnought Resources 0.01 -17% 6112242 $60,954,000
FRX Flexiroam Limited 0.005 -17% 9754902 $9,104,392
IR1 Irismetals 0.093 -15% 203419 $19,575,532
EXL Elixinol Wellness 0.017 -15% 314753 $4,603,828
AQX Alice Queen Ltd 0.003 -14% 1020000 $4,846,437
IN CASE YOU MISSED IT
TG Metals (ASX:TG6) is doubling down on its strategic gold opportunity at Van Uden in WA, receiving strong support from investors to raise $2.6 million.
Heavy Rare Earths (ASX:HRE) have entered a new deal with Havilah Resources, securing rights to all minerals at the Prospect Hill tin project.
Miramar Resources (ASX:M2R) has intersected multiple gold zones in the first RC drill hole at 8 Mile prospect within the Gidji JV in WA.
Waratah Minerals' (ASX:WTM) latest drilling has bolstered confidence that the Spur corridor could host a large-scale, high-grade epithermal gold system.
Magmatic Resources (ASX:MAG) has kicked off soil sampling, guided by strong rock chip results, at its Weebo gold project in Western Australia.
Future Battery Minerals (ASX:FBM) has just uncovered seven broad gold targets at its Burbanks East project in WA.
Loyal Metals (ASX:LLM) is preparing to leverage next-gen exploration techniques at the Highway Reward project after raising $2m.
Nimy Resources' (ASX:NIM) newly identified Sneaky Squirrel gossan prospect draws parallels to the third-party Gossan Hill VMS discovery in WA.
Aldoro Resources (ASX:ARN) delivers standout maiden inferred rare earths and niobium resource at Kameelburg, showcasing Tier-1 critical minerals potential.
Western Gold Resources (ASX:WGR) has scored a $3m non-dilutive loan facility to advance its Gold Duke project into production this year.
Firetail Resources (ASX:FTL) to raise $5 million in a strategic placement to advance its copper and gold portfolio.
RC drilling at OzAurum's (ASX:OZM) Mulgabbie North project has confirmed multiple gold-bearing zones in fresh rock across a 400m strike.
High-grade gallium has been identified at Western Yilgarn's (ASX:WYX) Ida Holmes Junction project through a helicopter-borne reconnaissance program.
West Wits Mining's (ASX:WWI) is moving stockpiled Qala Shallows ore to Ezulwini processing plant as it prepares for gold production.
Nova Minerals (ASX:NVA) has taken another major step towards production at its flagship 9.9Moz Estelle Gold and Critical Minerals Project, unveiling a conceptual flowsheet for the pivotal RPM deposit in Alaska.
LAST ORDERS
ClearVue Technologies (ASX:CPV) will be saying goodbye to founder and non-executive chair Victor Rosenberg after the next annual general meeting in November as he retires from the role. Board member Gerd Hoenicke has resigned from the executive team, effective immediately.
QPM Energy (ASX:QPM) has successfully commissioned the Townsville Power Station, activating the dispatch agreement between QPM and Ratch Australia Corporation. The agreement gives QPM the right to manage dispatch of electricity generated by TPS into the National Electricity Market.
Arizona Lithium (ASX:AZL) has offloaded the Big Sandy lithium project and lithium research center in return for US$5m in cash. The company is now focused on developing the Prairie lithium project, having recently raised $4.25m in an oversubscribed share purchase plan.
Trading halts
At Stockhead, we tell it like it is. While ClearVue Technologies, QPM Energy, Locksley Resources, Rhythm Biosciences and Arizona Lithium are Stockhead advertisers, they did not sponsor this article.
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