Closing Bell: ASX ends flat as info tech rally falters

The ASX 200 closed nearly flat, down 1.2 points. Info tech’s rally faltered, but the gold index climbed 1.09pc amid USD decline.

Phoebe Shields

4 min read

July 1, 2025 - 4:53PM

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With the tech rally fading, the ASX’s momentum also disappeared, finishing just about dead flat. Pic: Getty Images

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ASX slips back to even, losing just 1.2 points
Info tech sector reverses course, retreating from 1.2pc gain to just 0.2pc
Gold shines as USD falls; All Ord Gold index adds 1.09pc

Gold shines, tech declines

The info tech sector was providing the majority of the ASX’s momentum this morning, up about 1.2%.

As the day stretched long, the info tech gains evaporated, leaving the ASX 200 almost exactly where it started, down 1.2 points or 0.1%.

Defensive stocks stood their ground; utilities added 0.91% and real estate 0.75%.

Source: Market Index

Gold also made progress, gaining against a faltering greenback as the mounting clamour for interest rate cuts on Wall Street puts pressure on the US dollar.

The ASX All Ord Gold industry added 1.09%, alongside a 0.42% uptick for the Small Ords.

Source: Market Index

A lot of that movement was in penny stocks, but Emerald Resources (ASX:EMR) added 3.3%, Red Hill Minerals (ASX:RHI) 5%, Kingsgate Consolidated (ASX:KCN) 7% and Saturn Metals (ASX:STN) 12.5%.

ASX SMALL CAP LEADERS

Today’s best performing small cap stocks:

Security	Name	Last	% Change	Volume	Market Cap
EWC	Energy World Corpor.	0.048	129%	14856294	$64,657,346
AOA	Ausmon Resorces	0.002	100%	1329400	$1,311,213
CT1	Constellation Tech	0.002	100%	3113189	$1,474,734
NXS	Next Science Limited	0.11	64%	9215319	$19,574,736
ADDDB	Adavale Resource Ltd	0.032	60%	213697	$2,287,279
HMD	Heramed Limited	0.011	57%	8474550	$6,129,219
IS3	I Synergy Group Ltd	0.0015	50%	2180451	$1,502,190
TEG	Triangle Energy Ltd	0.003	50%	1104532	$4,178,468
SRL	Sunrise	1.175	46%	2178862	$92,758,060
EV1	Evolutionenergy	0.015	36%	399417	$3,989,155
CZN	Corazon Ltd	0.002	33%	525391	$1,776,858
M2R	Miramar	0.004	33%	2150000	$2,990,470
RNX	Renegade Exploration	0.004	33%	2165000	$3,865,090
VFX	Visionflex Group Ltd	0.002	33%	3500000	$5,051,791
WBE	Whitebark Energy	0.004	33%	2960000	$2,062,001
ICG	Inca Minerals Ltd	0.012	33%	5049324	$14,187,511
ENX	Enegex Limited	0.017	31%	43999	$4,951,987
GLA	Gladiator Resources	0.009	29%	426348	$5,308,078
OMX	Orangeminerals	0.077	28%	1426132	$8,286,137
PUR	Pursuit Minerals	0.057	27%	965382	$4,488,028
NSB	Neuroscientific	0.11	26%	2451852	$28,934,086
EGG	Enero Group Ltd	0.865	26%	503556	$62,153,558
PNN	Power Minerals Ltd	0.069	25%	1401168	$7,004,950
RMI	Resource Mining Corp	0.015	25%	2838012	$8,813,440
ADR	Adherium Ltd	0.005	25%	607622	$3,593,916

Making news…

Energy World (ASX:EWC) is preparing to restructure its capital and management under a proposal that would see US$440 million in debt transformed into shares.

EWC is converting its debt with Slipform Engineering Group into shares at $0.88 each, valuing them at 44-times its current 30-day VWAP of $0.02.

EWC managing director Brian Allen will also step down from the position after 24 years, with new interim chair Alan Jowell and CEO Edward McCartin taking up their roles effective today.

The company has opted to engage in a share conversion with Slipform, owned by the Elliott family (founder and EWC CEO Stewart Elliott passed away last year), in order to repay the outstanding debt.

Next Science (ASX:NXS) is looking to offload the vast majority of its assets and intellectual property in an asset purchase agreement with Demetra Holdings S.p.A for a total sale price of US$50 million.

NXS will retain ownership of the durable medical equipment segment and intends to return the net proceeds of the sale to shareholders to the tune of US$30 million. Management has signalled it intends to vote in favour of the transaction at the next EGM.

Sunrise Energy Metals (ASX:SRL) has wrapped up a heavily oversubscribed $1.5m share purchase plan. The company could only accept 37.5% of subscription offers, after shareholders asked for $4m.

Renegade Exploration (ASX:RNX) has unearthed multiple silver rock chips grading above 1000 g/t at the Broken Hills project in Nevada, US.

Five rock chips exceeded 1020 g/t silver with additional gold values up to 16.21 g/t gold, peaking at 2469 g/t silver.

ASX SMALL CAP LAGGARDS

Today’s worst performing small cap stocks:

Security	Name	Last	% Change	Volume	Market Cap
GMN	Gold Mountain Ltd	0.001	-33%	235592	$8,429,639
VMLDB	Vital Metals Limited	0.067	-33%	11648	$11,790,134
AN1	Anagenics Limited	0.004	-20%	30000	$2,481,602
KPO	Kalina Power Limited	0.004	-20%	4906284	$14,664,978
ROG	Red Sky Energy.	0.004	-20%	6944305	$27,111,136
SIS	Simble Solutions	0.004	-20%	250000	$5,411,652
SRJ	SRJ Technologies	0.004	-20%	3561707	$3,027,890
TMX	Terrain Minerals	0.002	-20%	9000136	$6,329,536
GBZ	GBM Rsources Ltd	0.014	-18%	14131740	$24,069,639
TMK	TMK Energy Limited	0.0025	-17%	7819005	$30,667,149
AON	Apollo Minerals Ltd	0.006	-14%	1362333	$6,499,198
LML	Lincoln Minerals	0.006	-14%	2107369	$14,717,988
T88	Taitonresources	0.06	-14%	13100	$5,212,016
ADC	Acdc Metals Ltd	0.04	-13%	285381	$3,439,656
IFG	Infocusgroup Hldltd	0.014	-13%	2904816	$4,415,389
NAG	Nagambie Resources	0.014	-13%	1891	$12,852,838
KAM	K2 Asset Mgmt Hldgs	0.065	-12%	6250	$17,840,305
SPD	Southernpalladium	0.59	-12%	19389	$71,656,500
PCK	Painchek Ltd	0.04	-11%	103757	$82,892,520
AAJ	Aruma Resources Ltd	0.008	-11%	30000	$2,951,465
ADG	Adelong Gold Limited	0.004	-11%	6915887	$9,309,045
AM5	Antares Metals	0.008	-11%	1160500	$4,633,676
CLG	Close Loop	0.032	-11%	4353864	$19,146,595
DRE	Dreadnought Resources Ltd	0.008	-11%	3790981	$45,715,500
GSM	Golden State Mining	0.008	-11%	47098	$2,514,336

IN CASE YOU MISSED IT

Asian Battery Metals (ASX:AZ9) has demonstrated the strength of the Yambat mineralised system in Mongolia with more high-grade copper-nickel intersections.

Many Peaks Minerals (ASX:MPK) has retained an exclusive option to acquire 100% of the Baga gold project in Côte d’Ivoire.

StockTake: Uvre (ASX:UVA) to dot the i’s and cross the t’s on New Zealand gold pickup.

IoT tech company X2M Connect (ASX:X2M) has taken a 7% stake in Dicode after a major UAE contract win.

Codeifai (ASX:CDE) is set to acquire AI-backed, quantum-secure platform antennatransfer.io from Canada’s Credissential Inc.

Magmatic Resources (ASX:MAG) has completed the first stage of its purchase for the highly prospective Weebo gold project in WA’s Goldfields.

Future Battery Minerals (ASX:FBM) has uncovered six new gold anomalies at its Burbanks East tenements.

LAST ORDERS

New Age Exploration (ASX:NAE) has locked in a $1 per tonne royalty for the first 15 million tonnes of any mineral ore or concentrate extracted from the Lochinvar coal project in the UK, completing the sale of the asset.

Management reckons the royalties could be worth up to $15 million, while the sale itself allows NAE to focus its resources on its gold and lithium projects closer to home.