Proactive’s Tylah Tully gives another ‘Small Caps Wrap,’ outlining the biggest movers across the ASX small caps sector.
International Graphite Ltd (ASX:IG6) was among the top performers, which was as much as 44.45% higher to $0.078 before settling at $0.068 per share.
On Monday, the company announced it secured a second mining lease for the Springdale Graphite Project and was awarded a $4.5 million grant from the West Australian government to support the development of Australia’s first commercial graphite processing facility in Collie.
Tryptamine Therapeutics Ltd (ASX:TYP, OTC:TYPTF) reached a weekly high of $0.054 before settling around $0.049 per share.
Noviqtech Ltd jumped over 155%, rising $0.031 a share to trade at $0.051 following firm commitments for a $1.05 million strategic placement to advance its blockchain-powered solutions.
Other notable performers included Nexus Minerals Ltd (ASX:NXM), which increased by 27.8% to reach $0.069 and Reward Minerals Ltd (ASX:RWD) was 21.63% higher to $0.092.
Cyclone Metals Ltd (ASX:CLE) surged 75% on news of a Memorandum of Understanding (MoU) with Vale SA for the Iron Bear project in Canada, which could lead to Vale obtaining a 75% stake through a $120 million investment or a decision to mine (DTM).
Subject to DTM approval, Vale may acquire Cyclone’s remaining 25% interest, pending shareholder agreement.
Cadoux Ltd (ASX:CCM, OTCQB:FYIRF) climbed 21.43% to a weekly high of $0.051, Magnetite Mines Ltd (ASX:MGT) hit a high of $0.145, a lift of 20.85%, and Metalsgrove Mining Ltd jumped 15.1% to $0.061.