Lunchtime ASX small cap wrap: Who’s flying high today?

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Melbourne is one of three global locations chosen by Uber for its 2020 aerial taxi service trial.

The vid makes the whole deal seem very nice, but we reckon it probably won’t be this smooth in real life. To start with, anyway.

And very possibly, a lot, lot noisier than people are refusing to think about right now.

“There are lots of challenges there — technical, logistical and very much … safety.”

Also, fun fact:  40,000lb (18,150kg) of bees equals ~133 million bees. We know this because a truck in the US has crashed and spilled its gigantic bee haul.

(You’ll be happy to know only one pound was lost; the rest just hung about making life difficult for first responders.)

Onto the markets — while the US ended flat, European share markets were firmer on Tuesday.

Gains were spearheaded by miners, autos and chemical companies after China – which is struggling with the effects of the trade war — announced new stimulus measures.

Local markets raced ahead in morning trade, with the ASX Small Ords (ASXO) up 18.2 points to 2852.1 around 11:40am EST.

Here’s your morning small cap winners and losers for Wednesday, June 12:

GOING UP

Yesterday, uranium play Berkeley Energia (ASX:BKY) announced that municipal elections in Retorillo, Spain, had worked out in its favour.

Four of the five council seats were won by candidates supportive of the company’s controversial Salamanca uranium project; the market responded by sending the stock up over 20 per cent in morning trade.

Berkeley also picked up nearby 3 licenses prospective for lithium, cobalt, tin, tungsten and rare earths.

Pure-play AI stock Brainchip (ASX: BRN) also climbed more than 30 per cent in early trade  after announcing the rollout of new “neural network” conversion technology.

Here are the best performing ASX small cap stocks at 11.30am Wednesday, June 12:

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

GOING DOWN

Dateline Resources (ASX: DTR) took a 20 per cent hit in morning trade for no good reason. Yesterday, the gold explorer announced that a big drill program to define a JORC compliant resource at the Gold Links project in the US was under way.

Battery materials play Australian Mines (ASX:AUZ) announced plans to raise $5m at a 20 per cent discount on the 5 day volume weighted average  share price, which saw  the stock fall about 15 per cent by lunchtime.

Here are the worst performing ASX small cap stocks at 11.30am Wednesday, June 12:

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

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