Here are the key ASX small cap winners at lunch Tuesday 29 January:

The ASX Small Ords was down 10.9 points or 0.4 per cent to 2,586 at 11.40am AEST.

GOING UP

There’s been plenty of nervousness around the first IPO of the new year, which has taken until the end of the month, and its performance has been seen as a test of the market as fundraising gets harder.

Initial signs following the IPO of payments provider Splitit (ASX:SPT) are positive: the company opened at 30.5c and has risen as high as 35.5c — that’s 78 per cent up on the offer price of 20c.

Mako Gold has made a new gold discovery in Burkina Faso, notching hits of up to 53.8g/t.

The news sent Mako (ASX:MKG) shares up over 30 per cent to an intraday peak of 15c just after market open on Monday.

Osprey (ASX:OSP) shares were up 15 per cent to 15c on record quarterly sales of its flagship DyeVert product, aimed at making heart imaging procedures safer for patients with poor kidney function.

It says full-year unaudited revenue was US$2.5 million, up 54 per cent year-on year.

But even with today’s rise the company is still wallowing below a a not-very-well-supported capital raising priced at 15.5c in October last year, and closer to 52-week lows than its highs.

Bauxite Resources (ASX:BAU) may have to field a speeding ticket from the ASX after its shares bounced 41 per cent on Tuesday morning, to a high of 5.2c.

The company did not have any news out.

Here are the best performing ASX small cap stocks at 12pm Tuesday 29 January: 

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ASX code Company % change Last price Volume Market cap
GLA Gladiator Resources 100% 0.2c 2,013,060 $1.2m
IEC Intra Energy 70% 1.7c 3,951,872 $3.9m
PCL Pancontinental 50% 0.3c 175,000 $10.8m
BAU Bauxite Resources 41% 5.2c 13,942 $7.9m
NVO Nvoi 33% 0.8c 2,850,000 $2.5m
LHB LionHub 29% 0.9c 2,509 $5.8m
IVO Invigor 25% 0.5c 120,000 $10.4m
OGX Orinoco Gold 25% 0.5c 4,700,999 $5.2m
SPX Spectrum Metals 25% 0.5c 300,010 $4.2m
RXH Rewardle 25% 0.5c 496,009 $2.1m
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GOING DOWN

Volt Resources (ASX:VRC) hit a roadblock in its efforts to secure $US40m ($56m) in much-needed funding for the development of its Bunyu graphite project in Tanzania.

The junior explorer said Tanzania’s Capital Markets and Securities Authority (CMSA) had set “unrealistic commercial terms” for it to go ahead with its bond issue.

Investors didn’t like the news at all, pushing shares down 25 per cent to an intra-day low of 1.8c – almost on par with the 52-week low it reached in early October.

Here are the worst performing ASX small cap stocks at 12pm Tuesday 29 January: 

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ASX code Company % change Last price Volume Market cap
EER East Energy Resources -33% 0.2c 100,000 $9.6m
VRC Volt Resources -25% 1.8c 8,039,841 $34.9m
E2E Eon NRG -24% 1.3c 8,854,845 $6.9m
PDI Predictive Discovery -21% 1.1c 276,380 $3.3m
DDT DataDot Technologies -20% 0.4c 10,000 $4.1m
CZR Corizon Resources -20% 0.8c 2,214,181 $17.9m
SI6 Six Sigma Metals -20% 0.4c 148,596 $2.3m
GLV Global Vanadium -20% 0.4c 223,386 $14.1m
ECX Eclipx -20% $2.13 1,110,245 $850m
MRR Minrex Resources -17% 2c 25,000 $2.3m
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