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:

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ASX code Company Today's price change (12.30pm) Price (12.30pm) Volume Market Cap
PCH PROPERTY CONNECT 0.5 0.003 3M 3.0M
DDT DATADOT TECHNOLO 0.5 0.003 25k 1.6M
BSP BLACK STAR PETRO 0.5 0.003 1M 1.3M
MDX MINDAX 0.375 0.011 55k 6.6M
CAY CANYON RESOURCES 0.36 0.17 1M 39.4M
JKA JACKA RESOURCES 0.333333333333 0.004 333k 2.3M
BAS BASS OIL 0.333333333333 0.004 6M 7.8M
MLS METALS AUSTRALIA 0.25 0.005 180k 10.5M
COY COPPERMOLY 0.25 0.01 150k 11.0M
HIP HIPO RESOURCES L 0.210526315789 0.023 61k 7.3M
HCO HYLEA METALS 0.2 0.006 100k 14.0M
RMP RED EMPEROR RESO 0.173913043478 0.054 2M 19.6M
VMS VENTURE MINERALS 0.166666666667 0.035 4M 15.6M
ZYB ZYBER HOLDINGS L 0.166666666667 0.007 143k 3.9M
MTH MITHRIL RESOURCE 0.166666666667 0.014 70k 2.4M
CM8 CROWD MOBILE 0.152173913043 0.053 502k 10.2M
PTX PRESCIENT THERAP 0.15 0.115 8k 21.2M
QFY QUANTIFY TECHNOL 0.15 0.023 30k 11.0M
TAU TRUSTEES AUSTRAL 0.142857142857 0.24 26k 18.1M
KLH KALIA 0.142857142857 0.008 475k 17.6M
E2E EON NRG 0.142857142857 0.008 800k 2.8M
AOA AUSMON RESOURCES 0.142857142857 0.008 2M 3.6M
WNR WINGARA AG 0.137931034483 0.33 35k 28.1M
HZR HAZER GROUP 0.136363636364 0.25 304k 19.4M
TV2 TV2U INTERNATION 0.125 0.009 9M 16.0M
CZN CORAZON MINING L 0.125 0.009 277k 10.1M
CTO CITIGOLD CORP 0.125 0.009 875k 15.3M
BEE BROO 0.115384615385 0.145 12k 79.1M
SWJ STONEWALL RESOUR 0.111111111111 0.01 2M 23.1M
KNM KNEOMEDIA 0.111111111111 0.03 24k 17.3M
GSW GETSWIFT 0.10447761194 0.37 79k 63.2M
POW PROTEAN ENERGY L 0.103448275862 0.032 2M 8.8M

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:

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ASX code Company Today's price change (12.30pm) Price (12.30pm) Volume Market Cap
MEM MEMPHASYS -0.933333333333 0.001 10M 5.1M
BDI BLINA MINERALS N -0.5 0.001 82k 6.5M
AYM AUSTRALIA UNITED -0.333333333333 0.002 50k 3.8M
WGL WANGLE TECHNOLOG -0.25 0.003 3M 8.3M
ROG RED SKY ENERGY L -0.25 0.003 500k 3.0M
CGM COUGAR METALS NL -0.2 0.004 1M 4.7M
GOO GOOROO VENTURES -0.171428571429 0.087 207k 9.1M
SDL SUNDANCE RESOURC -0.166666666667 0.005 591k 49.9M
RNY RNY PROPERTY TRU -0.166666666667 0.005 40k 1.6M
NSE NEW STANDARD ENE -0.166666666667 0.005 172k 4.7M
MSR MANAS RESOURCES -0.166666666667 0.005 544k 15.9M
CLZ CLASSIC MINERALS -0.166666666667 0.005 2M 12.0M
SVH SILVER HERITAGE -0.163265306122 0.041 14k 28.8M
G88 GOLDEN MILE RESO -0.15873015873 0.265 43k 18.1M
PEL PELICAN RESOURCE -0.142857142857 0.018 25k 7.6M
RNX RENEGADE EXPLORA -0.142857142857 0.006 5M 5.0M
DW8 DAWINE -0.142857142857 0.006 70k 4.1M
CHK COHIBA MINERALS -0.142857142857 0.006 4M 3.9M
SDV SCIDEV -0.125 0.007 216k 4.6M
PWN PARKWAY MINERALS -0.125 0.007 2M 4.8M
PPL PUREPROFILE -0.12 0.11 46k 15.1M
CRL COMET RESOURCES -0.116279069767 0.038 68k 8.4M
SGO STREAM GROUP -0.115384615385 0.023 16k 5.7M
WRM WHITE ROCK MINER -0.111111111111 0.008 1M 14.7M
DIG ASIA PACIFIC DIG -0.101123595506 0.08 12k 12.7M
SMI SANTANA MINERALS -0.1 0.009 95k 5.5M
FPL FREMONT PETROLEU -0.1 0.009 460k 6.9M
FGF FIRST GROWTH FUN -0.1 0.009 5M 15.1M
AWV ANOVA METALS -0.1 0.018 226k 12.5M