Lunchtime ASX small cap wrap: who’s making a splash today

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Here are the key ASX small cap winners and losers at lunch Monday Nov 12:

The ASX Small Ords was down 1.6 per cent or 43 points to 2639.7 at 12.50pm AEST.

GOING UP

Rollercoaster biotech stock Biotron (ASX:BIT) jumped 40 per cent to 14.5c today after confirming it would present detailed results from its HIV drug trial in the US at the end of the month.

Biotron hit 20-bagger status last month after announcing its flagship drug BIT225, had “significant immunological outcomes” in a Phase 2 clinical trial.

The test results were “a major step to the ultimate goal of curing HIV-1 infection”, Biotron boss Dr Michelle Miller said at the time.

The stock took off from 1.9c to a high of 44.5c on October 17 before cooling to 10c.

That attracted the attention of the ASX which issued a six-page query about the anouncements.

At the time Biotron said detailed trial results would be released at an “upcoming scientific conference in the USA in late 2018 / 2019”.

Today the biotech confirmed the results would be presented at the “HIV DART and Emerging Viruses 2018” conference in Miami, Florida sometime between November 27 and 29.

Metalcity (ASX:MCT) moved ahead 31 per cent today after acquiring ground next to Rio Tinto in the Paterson province of Western Australia.

Miners have been scrambling to acquire exploration ground after unconfirmed reports of a big copper discovery by Rio Tinto (ASX:RIO) in the Paterson province have gained momentum.

The stock jumped to 2.1c.

Metalicity also handed over 10 million shares to its second biggest shareholder Fortescue Metals (ASX:FMG) in part-payment for lithium sites in the Pilbara.

Metalicity is hoping to sell its WA zinc and lithium by the March quarter (by IPO, sale or joint venture) to fund its nickel and copper exploration.

Mining services group PPK (ASX:PPK) put on 28 per cent to 41c after buying a stake in a nanofibre technology developed at Victoria’s Deakin University.

PPK will acquire 50 per cent of the patented “Boron Nitride Nanotubes” manufacturing technology from tech incubator Australian Innovation Centre.

Deakin nanotechnology expert Professor Ying Chen described the nanotubes as “one of the strongest and lightest nanofibres known to man…

“They are seen as a revolutionary breakthrough in creating super strong, lightweight composite materials such as steel, aluminium, titanium, glass and plastic in entirely new forms.”

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Nickel explorer TopTung (ASX:TTW) gained 22.5 per cent to 4.9c after a maiden drilling program showed a high-grade Canadian nickel project could become a near term low-cost mining and toll milling operation.

TopTung told investors every hole of a 9-hole program at Alotta intersected nickel, copper, platinum group elements, cobalt and silver close to the surface.

Drilling at the recently acquired project was design to follow up on 2001 drilling program by a previous owner, which had outlined a near surface nickel-copper-cobalt-PGE mineralised lens.

Here are the best performing ASX small cap stocks at 12.15pm Tuesday Nov 13:

Swipe or scroll to reveal the full table. Click headings to sort

GOING DOWN

Triangle Energy (ASX:TEG) dropped 16 per cent to 6.7c after unveiling a $1.25 million capital raising from wealthy investors.

Triangle sold 19.3 million shares at 6.5c — a 19 per cent to discount to yesterday’s closing rice of 8c.

Triangle also plans to raise another $3.8 million via an entitlement offer at the same price.

Here are the worst performing ASX small cap stocks at 12.15pm Tuesday Nov 13:

Swipe or scroll to reveal the full table. Click headings to sort

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