Korab Resources Limited jumped 170.37% to AUD$A$0.07, closing out the day as the biggest winner among microcap shares on the Australian stock market today.

Coming in second was Bluechiip Limited, which gained 60% to AUD$A$0.05.

Third was Cannindah Resources Limited, which gained 22.92% to AUD$A$0.30.

Next was Kingsgate Consolidated Limited., which gained 21.17% to AUD$A$1.98.

And rounding out the top five was Global Energy Ventures Limited, which increased by 18.18%. to AUD$A$0.13.

NOTE: Microcap stocks on the ASX are those with a market valuation below AUD$50 million.