Closing Bell: Retail stocks dip after Accent AGM; but Bitcoin, goldies keep surging

Stockheads11-21 14:28

The ASX fell on Thursday, driven by drop in discretionary sector However, gold stocks and, in particular, Bitcoin surged Web Travel, Accent Group and Sayona Mining all dipped The ASX ended Thursday ...

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Accent’s shares slumped by 12%.Heavyweight Wesfarmers (ASX:WES) followed suit, dropping late in the day by over 1.5%.Other stocks in that space slipped as well, including Baby Bunting (ASX:BBN), Temple & Webster (ASX:TPW), Myer (ASX:MYR) and Kogan (ASX:KGN).Source: Market IndexGoldies surged once again as bullion bounced back above US$2650. Among Thursday’s winners there included Gold Road Resources (ASX:GOR) and Northern Star Resources (ASX:NST).Source: Market IndexIn company news, Web Travel Group (ASX:WEB), a spinoff from Webjet earlier this year, saw its shares drop 4% after its auditor called for a revision of its financial reports. Sayona Mining (ASX:SYA) dropped 10% after completing a $40 million equity raise ahead of its planned merger with Piedmont Lithium (ASX:PLL).Elsewhere, Bitcoin continued its post-US election surge, pushing close to US$95,000, as optimism about the cryptocurrency grows ahead of the pro-crypto Trump administration.And across the region, Asian stock markets fell following disappointing news from Nasdaq-listed Nvidia, which failed to meet high expectations for the next quarter. ASX SMALL CAP LEADERSToday’s best performing small cap stocks:Swipe or scroll to reveal full table. Click headings to sort:Code Name Price % Change Volume Market Cap IFG Infocus Group 0.034 127% 52,440,008 $1,631,640 LNU Linius Tech Limited 0.002 33% 5,195,420 $9,226,824 FNR Far Northern Res 0.180 71% 142,685 $3,807,912 T3D 333D Limited 0.011 57% 56,284 $1,233,284 BP8 Bph Global Ltd 0.003 20% 100,000 $991,604 RIE Riedel Resources Ltd 0.002 50% 1,100,000 $3,335,753 PTR Petratherm Ltd 0.165 43% 11,232,301 $34,900,465 AAU Antilles Gold Ltd 0.004 33% 8,499,005 $5,567,228 AHN Athena Resources 0.004 33% 125,000 $3,746,636 BYH Bryah Resources Ltd 0.004 33% 475,000 $1,509,861 GCR Golden Cross 0.004 33% 36,016 $3,291,768 JAV Javelin Minerals Ltd 0.004 33% 1,125,000 $15,568,189 OAR OAR Resources Ltd 0.002 33% 1,354,169 $4,951,252 VRC Volt Resources Ltd 0.004 14% 1,004,463 $14,555,373 NYM Narryer Metals 0.040 29% 2,900,167 $4,107,688 CDT Castle Minerals 0.003 25% 2,416,681 $3,345,628 ERA Energy Resources 0.003 25% 3,425,751 $44,296,598 FHS Freehill Mining Ltd. 0.005 25% 806,000 $12,314,111 POS Poseidon Nick Ltd 0.005 25% 1,461,608 $16,815,502 QEM QEM Limited 0.045 25% 804,301 $6,870,013 Wordpress Table PluginInFocus Group (ASX:IFG), a retail intelligence tech company, has secured a US$2.5 million contract with GBO Assets to develop a new digital social gaming platform, VigoBet Tech. The project will be completed over 24 months, with $1.1 million expected in revenue within the first three months. CEO Ken Tovich sees this as a major step into new markets.Far Northern Resources (FNR) announced that all resolutions at today’s Annual General Meeting were passed, including the adoption of the remuneration report, the election of Matthew Bashford as a director and the confirmation of the auditor appointment. Petratherm (ASX:PTR) held its AGM today as chairman Derek Carter highlighted the company’s exciting copper/gold projects at Woomera and Mabel Creek, where drill-ready targets for Tier 1 IOCG deposits have been identified.At Muckanippie, the team discovered high-grade titanium mineralisation, with 28% of surface samples showing over 30% TiO2. Initial results have exceeded expectations, leading to a successful capital raise and a 100-hole drilling program.Energy Resources of Australia (ASX:ERA) said Rio Tinto (ASX:RIO) has taken up its full entitlement in ERA’s rights issue, increasing its ownership to over 98%. The $766.5 million raised will fund the rehabilitation of the Ranger Project Area in the NT. Rio intends to compulsorily acquire the remaining ERA shares at $0.002 each, in line with its earlier plans.Encounter Resources (ASX:ENR) said the first RC drilling results at Green have confirmed high-grade niobium mineralisation, extending from the nearby Luni discovery. Key intercepts include 116m at 1.7% Nb2O5 and 81m at 1.5% Nb2O5. These results, along with previous aircore drilling, show significant niobium potential over a large area, the company said.Miramar Resources (ASX:M2R) has extended the strike length of copper, lead, silver and gold mineralisation at the Joy Helen prospect within the Chain Pool project in WA. Recent rock chip sampling has confirmed high-grade mineralisation over 400m, with potential for a 1km strike. Also, copper sulphide mineralisation has been found in dolerite dykes of the Mundine Well Suite.ASX SMALL CAP LAGGARDSToday’s worst performing small cap stocks:Swipe or scroll to reveal full table. Click headings to sortCode Name Price % Change Volume  Market Cap 1TT Thrive Tribe Tech 0.003 -25% 4,106,741 $2,813,446 CDE Codeifai Limited 0.002 -25% 16,360,581 $5,842,590 GMN Gold Mountain Ltd 0.002 -25% 453,016 $7,814,946 TMX Terrain Minerals 0.003 -25% 300,000 $7,200,115 AON Apollo Minerals Ltd 0.014 -22% 5,194,468 $12,534,172 ADX ADX Energy Ltd 0.048 -20% 13,525,252 $34,370,955 CLG Close Loop 0.200 -20% 9,055,804 $132,962,467 BNL Blue Star Helium Ltd 0.004 -20% 1,412,290 $13,474,426 TSL Titanium Sands Ltd 0.004 -20% 2,043,667 $11,058,736 NXD Nexted Group Limited 0.125 -19% 222,295 $34,335,100 RR1 Reach Resources Ltd 0.009 -18% 13,202,747 $9,618,745 GQG GQG Partners 2.165 -18% 14,140,460 $7,796,933,121 EE1 Earths Energy Ltd 0.014 -18% 48,896 $9,009,392 TAT Tartana Minerals Ltd 0.039 -17% 27,027 $8,584,357 ERL Empire Resources 0.003 -17% 100,000 $4,451,740 PUR Pursuit Minerals 0.003 -17% 206,000 $10,906,200 VML Vital Metals Limited 0.003 -17% 3,542,216 $17,685,201 BUY Bounty Oil & Gas NL 0.004 -17% 2,600,000 $7,192,805 A1G African Gold Ltd. 0.053 -16% 2,579,837 $22,614,450 OD6 Od6Metalsltd 0.038 -16% 360,607 $5,791,058 POD Podium Minerals 0.033 -15% 7,441,591 $17,735,124 MGU Magnum Mining & Exp 0.011 -15% 10,925,891 $10,521,698 BMR Ballymore Resources 0.120 -14% 6,275 $24,742,282 TEG Triangle Energy Ltd 0.006 -14% 99,780 $14,624,638 Wordpress Table PluginIN CASE YOU MISSED ITBevis Yeo and Jessica Cummins reported that:Killi Resources’ (ASX:KLI) geophysical surveys have found a large-scale, shallow induced polarisation (IP) anomaly at the Baloo Prospect within its Mt Rawdon West gold-copper project in Queensland that is indicative of a porphyry/intrusive system beneath the surface gold-copper soil anomaly.Meteoric Resources (ASX:MEI) has completed the sale of its Palm Springs gold project in WA’s Kimberley region to WIN Metals (ASX:WIN) for up to $5m.The company has received a cash payment of $1m and WIN shares worth $1.75m at a deemed price of 2.5c and subject to 12 months voluntary escrow, and will receive a further payment of $1m in cash 18 months after completion and another $1.25m on WIN producing 20,000oz of gold from Palm Springs.“We are pleased to have realised value from what has become a non-core asset and enable the full focus of Meteoric on the Caldeira ionic adsorption clay rare earth element project in Brazil,” MEI executive chairman Andrew Tunks said.Rock chip sampling has provided Miramar Resources (ASX:M2R) with further evidence that its Chain Pool project could host multiple mineralisation styles after extending multi-element mineralisation at the Joy Helen prospect and uncovering copper in the dolerite dyke of the 755Ma Mundine Well Suite.Sovereign Metals’ (ASX:SVM) initial test work on graphite concentrate sourced from its Kasiya rutile-graphite project in Malawi has confirmed it is suitable for traditional refractory and foundry applications due to its high resistance to oxidation. This expands optionality over offtake discussions and future supply chains to maximise revenues from the project.Burrendong Minerals, which has the right to earn an interest in Impact Minerals’ (ASX:IPT) highly prospective Commonwealth project in the highly prolific Lachlan Fold Belt in NSW, has made its IPO prospectus available.IPT’s shareholders have a priority entitlement of $2 million in the IPO, which seeks to raise $5m at 20c per share with a free attaching option exercisable at 25 cents within 36 months of listing for every two shares subscribed. Should Burrendong list on the ASX, IPT will retain a 49% interest in the Commonwealth project, receive a $275,000 cash payment, and be the largest shareholder in the new company with a 12.5% interest.Managing director Dr Mike Jones, who will sit on Burrendong’s board, said the IPO was an opportunity to participate in one of Australia’s most prolific mineral belts – the Lachlan copper-gold belt.“Once listed, Burrendong will take control of our exceptional Commonwealth gold-silver-copper project, which has been on hold due to our focus on the Lake Hope high purity alumina project,” he added.Omega Oil and Gas (ASX:OMA) has appointed Milton Cooper, an energy professional with more than 30 years’ experience, to the role of chief commercial officer effective from February 2025. Milton will be responsible for commercial, finance, business development, investor relations, government relations and other corporate functions.He joins OMA from Galilee Energy (ASX:GLL) where he has held the roles of chief financial officer and chief commercial officer since 2018.“Milton’s deep industry experience and strong strategic management capabilities will greatly assist us in achieving our near term objectives and delivering our longer-term growth strategy,” OMA managing director Trevor Brown said.At Stockhead, we tell it like it is. While Impact Minerals, Killi Resources, Meteoric Resources, Miramar Resources, Omega Oil and Gas and Sovereign Metals are Stockhead advertisers, they did not sponsor this article.This article does not constitute financial product advice. 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