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Here are the key ASX small cap winners and losers at lunch Thursday Aug 9:

The ASX Small Ords was up 8 points or 0.3 per cent to 2,828.5 at 1pm AEST.

GOING UP

Lithium explorer Altura Mining (ASX:AJM) gained 7 per cent to 29c in early Thursday trade after confirming it had knocked back a potential reverse takeover from Chinese battery maker Shaanxi J&R Optimum Energy.

Altura said “any change of control would be unlikely to deliver an appropriate valuation outcome for shareholders”.

Instead, Altura will focus on commissioning its open-pit Pilgangoora lithium project in WA and wait for the lithium market to recover.

West Australian battery metal explorer Venture Minerals (ASX:VMS) continued upwards after yesterday finding a 17m zone of massive sulfides in maiden drilling at its base metals Thor project in Western Australia.

The stock raced ahead 30 per cent to 3c yesterday and gained another 26 per cent today to 3.8c.

Venture has verified copper and zinc in the sulfides as well as lead, bismuth, tin, tungsten and arsenic.

Lab tests of samples are underway along with plans for an airborne survey.

Vanadium miner and battery investor Protean Energy (ASX:POW) put on 10 per cent to 3.2c today after gaining access to a test plant that will help fast-track its South Korean mining project.

Protean subsidiary Stonehenge Korea signed a deal to use a 1.2 tonne/day pilot plant in the central Korean city of Daejeon.

Protean is involved in three vanadium-uranium projects in South Korea as part of a plan to develop vanadium redox flow batteries.

Congo-focused battery metals play Hipo Resources (ASX:HIP) gained 21 per cent after jumping into bed with Canadian gold and platinum explorer St George Eco Mining.

St-Georges will use its lithium recovery technology to help develop Hipo’s Congo lithium project in exchange for up to 27 million HIP shares.

“The next few months will be transformational for Hipo,” said chairman Maurice Feilich.

The shares were trading at 2.3c at 12.30pm AEST Thursday.

Anti-counterfeiter DataDot (ASX:DDT) climbed 50 per cent after a proposed tie-up with food producer Beston Global (ASX:BFC) was put on hold.

The pair announced a deal in February to launch a new business that used DataDot’s CSIRO-developed “microdot” watermark technology to stop theft of food products.

The pair are now giving themselves until February to decide whether the plan will go ahead at all.

Datadot moved to 0.3c.

Here are the best performing ASX small cap stocks at 12.30pm AEST Thursday, Aug 9:

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

ASX codeCompanyToday's price change (12.30pm)Price (12.30pm)VolumeMarket Cap
PCHPROPERTY CONNECT0.50.0033M3.0M
DDTDATADOT TECHNOLO0.50.00325k1.6M
BSPBLACK STAR PETRO0.50.0031M1.3M
MDXMINDAX0.3750.01155k6.6M
CAYCANYON RESOURCES0.360.171M39.4M
JKAJACKA RESOURCES0.3333333333330.004333k2.3M
BASBASS OIL0.3333333333330.0046M7.8M
MLSMETALS AUSTRALIA0.250.005180k10.5M
COYCOPPERMOLY0.250.01150k11.0M
HIPHIPO RESOURCES L0.2105263157890.02361k7.3M
HCOHYLEA METALS0.20.006100k14.0M
RMPRED EMPEROR RESO0.1739130434780.0542M19.6M
VMSVENTURE MINERALS0.1666666666670.0354M15.6M
ZYBZYBER HOLDINGS L0.1666666666670.007143k3.9M
MTHMITHRIL RESOURCE0.1666666666670.01470k2.4M
CM8CROWD MOBILE0.1521739130430.053502k10.2M
PTXPRESCIENT THERAP0.150.1158k21.2M
QFYQUANTIFY TECHNOL0.150.02330k11.0M
TAUTRUSTEES AUSTRAL0.1428571428570.2426k18.1M
KLHKALIA0.1428571428570.008475k17.6M
E2EEON NRG0.1428571428570.008800k2.8M
AOAAUSMON RESOURCES0.1428571428570.0082M3.6M
WNRWINGARA AG0.1379310344830.3335k28.1M
HZRHAZER GROUP0.1363636363640.25304k19.4M
TV2TV2U INTERNATION0.1250.0099M16.0M
CZNCORAZON MINING L0.1250.009277k10.1M
CTOCITIGOLD CORP0.1250.009875k15.3M
BEEBROO0.1153846153850.14512k79.1M
SWJSTONEWALL RESOUR0.1111111111110.012M23.1M
KNMKNEOMEDIA0.1111111111110.0324k17.3M
GSWGETSWIFT0.104477611940.3779k63.2M
POWPROTEAN ENERGY L0.1034482758620.0322M8.8M

GOING DOWN

Oil explorer Carnarvon Petroleum (ASX:CVN) cooled after yesterday confirming new offshore oil discoveries in Western Australia.

Analyst David Low from Wood Mackenzie called the find “a real win”, though he said there would be “significant upfront capex required.

“Raising such funds would be a hurdle for a small-cap player such as Carnarvon Petroleum,” Mr Low said.

Carnarvon might choose instead to bring in a partner or look for takeover offers, he said.

The stock yesterday jumped 43 per cent to trade as high as 69.5c — quadruple its value since July — with more than $40 million worth of shares changed hands.

It was again heavily traded today with another $7.5 million changing hands by midday — but the price fell back to an intradya low of 60c.

Biological separator Memphasys (ASX:MEM) is down due to a 15-for-1 stock consolidation.

Here are the worst performing ASX small cap stocks at 12.30pm AEST Thursday, Aug 9:

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

ASX codeCompanyToday's price change (12.30pm)Price (12.30pm)VolumeMarket Cap
MEMMEMPHASYS-0.9333333333330.00110M5.1M
BDIBLINA MINERALS N-0.50.00182k6.5M
AYMAUSTRALIA UNITED-0.3333333333330.00250k3.8M
WGLWANGLE TECHNOLOG-0.250.0033M8.3M
ROGRED SKY ENERGY L-0.250.003500k3.0M
CGMCOUGAR METALS NL-0.20.0041M4.7M
GOOGOOROO VENTURES-0.1714285714290.087207k9.1M
SDLSUNDANCE RESOURC-0.1666666666670.005591k49.9M
RNYRNY PROPERTY TRU-0.1666666666670.00540k1.6M
NSENEW STANDARD ENE-0.1666666666670.005172k4.7M
MSRMANAS RESOURCES-0.1666666666670.005544k15.9M
CLZCLASSIC MINERALS-0.1666666666670.0052M12.0M
SVHSILVER HERITAGE-0.1632653061220.04114k28.8M
G88GOLDEN MILE RESO-0.158730158730.26543k18.1M
PELPELICAN RESOURCE-0.1428571428570.01825k7.6M
RNXRENEGADE EXPLORA-0.1428571428570.0065M5.0M
DW8DAWINE-0.1428571428570.00670k4.1M
CHKCOHIBA MINERALS-0.1428571428570.0064M3.9M
SDVSCIDEV-0.1250.007216k4.6M
PWNPARKWAY MINERALS-0.1250.0072M4.8M
PPLPUREPROFILE-0.120.1146k15.1M
CRLCOMET RESOURCES-0.1162790697670.03868k8.4M
SGOSTREAM GROUP-0.1153846153850.02316k5.7M
WRMWHITE ROCK MINER-0.1111111111110.0081M14.7M
DIGASIA PACIFIC DIG-0.1011235955060.0812k12.7M
SMISANTANA MINERALS-0.10.00995k5.5M
FPLFREMONT PETROLEU-0.10.009460k6.9M
FGFFIRST GROWTH FUN-0.10.0095M15.1M
AWVANOVA METALS-0.10.018226k12.5M