Closing Bell: ASX gets the Friday blues with a 1pc fall, tech stocks thrashed

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Gold and junior resources stocks were some of the only companies to stand out on Friday during a lacklustre session which saw the ASX 200 fall by 1.09%.

The big end of town was outperformed by the microcap Emerging Companies index which edged higher by 0.08%.

It followed a rough session on Wall Street overnight, and US stock futures are trading flat ahead of the Friday open in afternoon Asian trade.

By sector, tech stocks got belted as the ASX 200 IT index fell by almost 4%, with more selling in BNPL bellwether (now Block Inc subsidiary) Afterpay (ASX:APT).

Banks and miners fell along with energy stocks, and even defensive health stocks didn’t escape the selling as the ASX 200 Healthcare index fell by 1.46%.

TODAY’S BIGGEST SMALL CAP WINNERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

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

Code Company Price % Volume
NTL New Talisman Gold 0.002 100.0% 3,957,042
ARL Ardea Resources Ltd 0.77 51.0% 4,874,216
BAS Bass Oil Ltd 0.002 33.3% 8,079,022
LEG Legend Mining 0.085 32.8% 17,824,199
S66 Star Combo 0.34 30.8% 85,147
CPV Clearvue Technologie 0.47 30.6% 4,352,221
ESS Essential Metals Ltd 0.46 26.0% 12,517,838
PBL Parabellumresources 0.25 25.0% 161,055
TSN The Sust Nutri Grp 0.2 25.0% 140,750
JAV Javelin Minerals Ltd 0.0025 25.0% 2,586,667
MLS Metals Australia 0.0025 25.0% 15,903,251
NAE New Age Exploration 0.02 25.0% 74,703,536
PCL Pancontinental Energ 0.0025 25.0% 21,250,001
PNM Pacific Nickel Mines 0.13 23.8% 1,256,397
ADO Anteotech Ltd 0.3125 22.5% 17,285,145
ZNC Zenith Minerals Ltd 0.35 20.7% 14,365,718
HAV Havilah Resources 0.205 20.6% 1,920,165
LCT Living Cell Tech. 0.006 20.0% 1,091,377
TOR Torque Met 0.245 19.5% 169,551
PAM Pan Asia Metals 0.645 19.4% 3,083,888
ADD Adavale Resource Ltd 0.069 19.0% 9,630,991
TNR Torian Resources Ltd 0.026 18.2% 17,453,374
MI6 Minerals260Limited 0.69 17.9% 1,134,679
EFE Eastern Resources 0.079 17.9% 89,757,967
MM1 Midasmineralsltd 0.2 17.6% 246,586

Junior explorers with market moving announcements held their gains into the closing bell, as Ardea Resources (ASX:ARL) led the market after confirming a big high-grade nickel-copper-PGE sulphide hit at its ‘Emu Lake’ project near Kalgoorlie.

The find is a by-product of ARL’s search efforts in a new exploration space called the Western Ultramafic, around 1km south of where most previous exploration took place in the area. Mineralisation remains open in all directions, with with Ardea controlling 20km of strike on the new target zone.

Lithium-gold play Essential Metals (ASX:ESS) also found a spot on the leaderboard, after providing an update on its Pioneer Dome lithium project where air-core drilling will follow up on “on open or unexplained anomalism generated from the August 2021 drill programme”, the company said.

And fintech company IOUpay (ASX:IOU) made a late rally, climbing by around 17% to 24c after announcing it’s received government approval for an acquisition in Malaysia first announced in January 2021. The finalised acquisition of Sibu Kurnia Marine Sdn Bhd will allow IOUpay to secure a money lending licence in the Malaysian market.

TODAY’S BIGGEST SMALL CAP LOSERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

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

Code Company Price % Volume
ALT Analytica Limited 0.002 -33.3% 277,175
DOR Doriemus PLC 0.115 -20.7% 67,422
CCZ Castillo Copper Ltd 0.031 -18.4% 22,646,687
PDL Pendal Group Ltd 5.015 -15.6% 12,882,714
COY Coppermoly Limited 0.012 -14.3% 463,700
MTB Mount Burgess Mining 0.006 -14.3% 2,796,280
BIR BIR Financial Ltd 0.04 -13.0% 1,478,632
MSI Multistack Internat. 0.034 -12.8% 77,086
ATP Atlas Pearls Ltd 0.035 -12.5% 5,258,747
GTE Great Western Exp. 0.14 -12.5% 850
IKW Ikwezi Mining Ltd 0.65 -12.2% 2,500
KFE Kogi Iron Ltd 0.011 -12.0% 542,649
GWR GWR Group Ltd 0.19 -11.6% 530,372
DLT Delta Drone Intl Ltd 0.023 -11.5% 34,757
SFM Santa Fe Minerals 0.2 -11.1% 329,719
9SP 9 Spokes Int Limited 0.008 -11.1% 6,138,392

ANNOUNCEMENTS YOU MAY HAVE MISSED

Mining group New Hope Corp (ASX:NHC) announced the resignation of its CEO in afternoon trade. Reinhold Schmidt has stepped down following a short period of personal leave, effective immediately. Chief Financial Officer Mr Rob Bishop will step into the acting CEO role. Shares in NHC fell by around 3%.

Diversified mining stock Astro Resources (ASX:ARO) provided a general business update, including plans to spin off its East Kimberly diamond project as part of an ASX IPO which will include other diamond projects both domestically and abroad. The company is also in discussions with Nevada-based Pediment Gold LLC to form a joint venture that would have interests in a number of US-based gold projects.

TRADING HALTS

Asaplus Resources (ASX:AJY) – pending announcement (no details)
Critical Resources (ASX:CRR) – drilling update
Carnavale Resources (ASX:CAV) – assay results
Zuleika Gold (ASX:ZAG) – capital raising

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